Thursday, April 09, 2009

Facts with figures

Canwest shares sell for about 30 cents.
In the last quarter, Canwest lost $8.00 for each share. That's a $1.4 billion loss, about 20% of the book value of the company. And it can't handle its present debt payments. Canwest has already missed several deadlines with its creditors. They would probably have placed the company in receivership already if there were any buyers.
It's over.

(Meanwhile, I see Quebecor, which has gutted the Sun chain, Osprey newspapers in small town Ontario and the London Free Press, is likely to make a bid on the Montreal Canadiens.
Next time a newspaper publisher tells a Rotary Club about the sacred place of newspapers in democracy and the community, I hope some lawyer or accountant gives him a kick in the ass.)

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