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 Posted: Wed Jan 14, 2009 9:02 am Post subject: Nortel bankrupt. Is Canwest next? |
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Nortel, the icon of the Candian IT sector, filed for bankruptcy protection today as US$ 107 million of debt payments come due tomorrow and the credit squeeze plus the economic downturn zaps the company's revenue stream.
Canwest announced losses today and also warned that it is in danger of breaking its debt covenants. This would be a serious development as the close to 5 billion in debt on its books could lead to a bankruptcy filing in the not too distant future.
I'd expect more of these announcements, unfortunately. |
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SFrank85
Joined: 03 Mar 2007
Posts: 2269
  
votes: 4
Location: Toronto - Scarborough Southwest
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| Posted: Wed Jan 14, 2009 10:57 am Post subject: |
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I wonder what will happen to the National Post if CanWest went under?
Global would most likely still remain, but who would buy it if CanWest needed to sell off its assets? I just hope there are conservative minded buyers.
Nortel going under, it was only a matter o time. This company has been poison since 2001. |
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| Posted: Wed Jan 14, 2009 11:54 am Post subject: |
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| SFrank85 wrote: |
Nortel going under, it was only a matter o time. This company has been poison since 2001. |
I totaly agree. I hope we don't waste any tax dollars on this white elephant. |
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SFrank85
Joined: 03 Mar 2007
Posts: 2269
votes: 4
Location: Toronto - Scarborough Southwest
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| Posted: Wed Jan 14, 2009 3:24 pm Post subject: |
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| Darth Vader wrote: | | SFrank85 wrote: |
Nortel going under, it was only a matter o time. This company has been poison since 2001. |
I totaly agree. I hope we don't waste any tax dollars on this white elephant. |
I doubt there will be any government bailout for this company. |
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| Posted: Thu Jan 15, 2009 7:54 am Post subject: |
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CanWest going under would be awful for the media industry in Canada.
The "papers" i read the most (online) are the Post, the Herald and the Citizen. I almost only watch Global National for national news. I love CanWest. It'd be a great shame. |
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Mac
Joined: 02 Sep 2006
Posts: 5500
votes: 35
Location: John Baird's riding...
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| Posted: Thu Jan 15, 2009 9:52 am Post subject: Re: Nortel bankrupt. Is Canwest next? |
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| cbasu wrote: | | I'd expect more of these announcements, unfortunately. |
You're always a ray of sunlight, cbasu... :lol:
-Mac |
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ezbeatz
Joined: 09 Oct 2008
Posts: 1140
votes: 10
Location: Vaughan, ON
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| Posted: Thu Jan 15, 2009 1:50 pm Post subject: |
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| nathaliejcaron wrote: | | The "papers" i read the most (online) are the Post, the Herald and the Citizen. I almost only watch Global National for national news. I love CanWest. It'd be a great shame. |
I've never watched global national. Is it good? Generally speaking, I try to avoid tv news like the plague. There's nothing of value that comes out of the MSM. |
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| Posted: Thu Jan 15, 2009 2:40 pm Post subject: |
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| ezbeatz wrote: | | nathaliejcaron wrote: | | The "papers" i read the most (online) are the Post, the Herald and the Citizen. I almost only watch Global National for national news. I love CanWest. It'd be a great shame. |
I've never watched global national. Is it good? Generally speaking, I try to avoid tv news like the plague. There's nothing of value that comes out of the MSM. |
It's generally well-balanced. Kevin Newman (the main weekday anchor) strikes me as a respectable conservative family man. He is not scared to ask difficult questions (which lost him his access to the PM for interviews), but not in a "ha-ha gotcha" kind of way, but more "Canadians deserve the truth".
I have never noticed significant liberal bias during this broadcast, and they have many very talented reporters. |
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