Friday, March 06, 2009

Pushing the boundaries of journalism

to an all-time low: Canwest is 27 cents. The equity value of the company (the total of all the shares at 27 cents) is about $50 million.
Meanwhile, the Globe says the chickens will come home to roost by the Ides of March. Canwest has a $38 million interest payment due that day (a Sunday). It does not have this money. And even if it did, the rest of the bankers won't sit by while one creditor gets paid and the rest of them circle the drain.
So it really will be over next Wednesday, when the last extension by the banks times out.

3 comments:

Anthony said...

over/under on Easter Mark

Anonymous said...

nice try. It's not over yet -- maybe you should stick to politics because you have no clue as to what is really going on at Canwest.

Anonymous said...

From anonymous2 to anonymous1 - Who will ultimately lose the financial battle of wits? Journalists or lenders. Remember, lenders will typically have first shot at the distressed assets.