Comments on: The Georgia Straight gets it pretty much wrong on Canwest http://strangehold.com/blog/?p=19 The official website of David George-Cosh Tue, 01 Dec 2009 16:34:52 +0000 http://wordpress.org/?v=2.9.2 hourly 1 By: David George-Cosh http://strangehold.com/blog/?p=19&cpage=1#comment-139 David George-Cosh Sat, 11 Jul 2009 15:26:56 +0000 http://strangehold.com/blog/?p=19#comment-139 While I will withhold commenting on the intelligence of "that guy at the Georgia Straight", my original argument on the lack of an astute financial knowledge stands. One can't tie in stock movements to "reporter's intuition." Canwest just had a pretty bad quarter. While I will withhold commenting on the intelligence of “that guy at the Georgia Straight”, my original argument on the lack of an astute financial knowledge stands. One can't tie in stock movements to “reporter's intuition.” Canwest just had a pretty bad quarter.

]]> By: Charlie Smith http://strangehold.com/blog/?p=19&cpage=1#comment-138 Charlie Smith Sat, 11 Jul 2009 02:57:56 +0000 http://strangehold.com/blog/?p=19#comment-138 I notice that Canwest shares closed at six-and-a-half cents yesterday. Maybe that guy at the Georgia Straight isn't so stupid afterall. I notice that Canwest shares closed at six-and-a-half cents yesterday. Maybe that guy at the Georgia Straight isn't so stupid afterall.

]]> By: Charlie Smith http://strangehold.com/blog/?p=19&cpage=1#comment-22 Charlie Smith Mon, 05 Jan 2009 04:05:27 +0000 http://strangehold.com/blog/?p=19#comment-22 I checked the lobbyist registry, and noted that Leonard Asper has had communications with several people in government last year. But I did not notice that Izzy Asper ever registered as a lobbyist, notwithstanding Newman's report that Izzy Asper met privately with Chretien to work out financial arrangments for government funding of the human-rights museum in Winnipeg. Gail Asper, on the other hand, has registered as a lobbyist for the project. But Izzy didn't. I guess it's too late for Duff Conacher to file a complaint against Izzy Asper, but Chretien is still alive. I checked the lobbyist registry, and noted that Leonard Asper has had communications with several people in government last year. But I did not notice that Izzy Asper ever registered as a lobbyist, notwithstanding Newman’s report that Izzy Asper met privately with Chretien to work out financial arrangments for government funding of the human-rights museum in Winnipeg. Gail Asper, on the other hand, has registered as a lobbyist for the project. But Izzy didn’t. I guess it’s too late for Duff Conacher to file a complaint against Izzy Asper, but Chretien is still alive.

]]> By: Dave http://strangehold.com/blog/?p=19&cpage=1#comment-21 Dave Mon, 05 Jan 2009 03:50:50 +0000 http://strangehold.com/blog/?p=19#comment-21 Consider that wager taken. Consider that wager taken.

]]> By: Charlie Smith http://strangehold.com/blog/?p=19&cpage=1#comment-20 Charlie Smith Mon, 05 Jan 2009 03:29:08 +0000 http://strangehold.com/blog/?p=19#comment-20 David, I hope you post this. First of all, I was advancing theories about why Canwest shares rose in value. I was not making declarative statements. I said one theory is that Murdoch might be getting ready to buy the company. I did not say he was accumulating shares. In fact, I noted that trading volumes were exceedingly low at the end of December. I just read Michael Wolff’s book, “The Man Who Owns the News: Inside the Secret World of Rupert Murdoch. Based on my reading of this book, I think it's entirely plausible that Murdoch might have his eye on Canwest, given its relatively low market value. Murdoch has been on a relentless expansion, and it is natural that he might be eyeing Canada, given that its economy will likely outperform other industrialized countries. I also stated as a theory that Canwest executives might be considering seeking a bailout. I didn't say they had started this process, which would require registering as a lobbyist. (However, I'm not sure that Izzy Asper registered as a lobbyist when he met privately with Jean Chretien to discuss the museum project in Winnipeg--if what Peter C. Newman wrote in his book Izzy is true.) It’s not implausible for Canwest to seek a bailout in the future, given the challenges of paying down the company’s debt. It’s far too early to say if I got it wrong. Let's review the situation in 2011 and see who's right then. I'll make a friendly $5 wager with you that either Murdoch's News Corp. has bought Canwest by the end of 2011 or Canwest has sought a government bailout by the end of 2011. If I'm wrong at that time, I'll happily tell everyone this on the Georgia Straight site that I had to pay you $5 for making a couple of lousy guesses. David,

I hope you post this. First of all, I was advancing theories about why Canwest shares rose in value. I was not making declarative statements.

I said one theory is that Murdoch might be getting ready to buy the company. I did not say he was accumulating shares. In fact, I noted that trading volumes were exceedingly low at the end of December.

I just read Michael Wolff’s book, “The Man Who Owns the News: Inside the Secret World of Rupert Murdoch. Based on my reading of this book, I think it’s entirely plausible that Murdoch might have his eye on Canwest, given its relatively low market value.

Murdoch has been on a relentless expansion, and it is natural that he might be eyeing Canada, given that its economy will likely outperform other industrialized countries.

I also stated as a theory that Canwest executives might be considering seeking a bailout. I didn’t say they had started this process, which would require registering as a lobbyist. (However, I’m not sure that Izzy Asper registered as a lobbyist when he met privately with Jean Chretien to discuss the museum project in Winnipeg–if what Peter C. Newman wrote in his book Izzy is true.)

It’s not implausible for Canwest to seek a bailout in the future, given the challenges of paying down the company’s debt. It’s far too early to say if I got it wrong.

Let’s review the situation in 2011 and see who’s right then. I’ll make a friendly $5 wager with you that either Murdoch’s News Corp. has bought Canwest by the end of 2011 or Canwest has sought a government bailout by the end of 2011. If I’m wrong at that time, I’ll happily tell everyone this on the Georgia Straight site that I had to pay you $5 for making a couple of lousy guesses.

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