It would appear now that all is left is a reclamation effort to affect a fire sale of assets. Not a good omen for investment realization. BOD acted two years too late and bears a large portiom of the culpability!

Brian

1984:

The real reason that Obama is obstructng the pipeline is that Warren Buffet owns BNSF Railroad and Obama owes Buffet bigtime. If there is no pipeline then the oilsands production will be shipped by rail. And as long as the US consumer is footing the bill, then why should Canada go to the expense of building a pipeline to Kitimat unless they want to build a network to supply oil to the developing world. Which in fact would be wise in order to diversify the Canadian customer base. Thereby decreasing dependence on any one customer. So my bet is that a pipeline will get built to Kitimat and Buffet (BNSF), will ship by rail from the junction of Canadin railroads and Burlington Northern Santa Fe. All win except the US pipelines and the US consumer as shipping by rail will be more expensive. And as Obama is obstructing at present the pipeline, he gets the advantage of ameliorating the envirinmental wacko crowd until after the election. Keep your eye on the ball. And right now the ball is politics, crony capitalism and the interests of the big boys. Even a pipeline wll get built. But to Kitimat. Not the US!

Brian

Sharky:

Why did it take the BOD nearly three years to react and take action? The malfeasance has been endemic and crippled the Corporation. Why should anything more effective be anticipated now? Not to mention destruction of a tremendous amount investor capital. The entirety of Connacher mismanagement has been negatively legendary and pathetic!!

Brian

Kingy1:

Respectfully disagree.

Egregious errors have been made The culmination of which now has become extremely apparent. Corporate assets have been in a massive sense wasted. The debt of the Corporation has been massively expanded. Shareholder equity has been on a per capita basis, massively eroded.

The Corporation is now in the hands of what is likely a caretaker administration of previous members of the BOD which were present for the entirety of the now apparent previous Management fiasco of wealth per share diminishment.

The Corporation within the context of this situation of being overly leveraged will now likely go on the market certainly under less than ideal circumstance. Its assets encumbered by prodigous debt. All in an environment which will invite the sharks to attempt to acquire Corporate assets at a bargain basement price.

Additionally, there is a requirement for the establishment of a management structure to organize chaos into a smoothly operating entity while undertaking considerable debt.

All because of previous Management more adept at wealth destruction from their risky behavior than interest in building a responsible and financially realistic entity.

For myself, I am glad I made the decision to disengage from CLL even though at a manageable loss. Speculation on a Gusella like individual can be very stressful on ones outlook and resources!

Brian

Obviously no one was willing to go 50/50 with Connacher. At least at a price Connacher found intriguing. Wonder if even anyone had interest in a 100% buyout.

Meanwhile as per the norm, CLL takes 10,000 words to say that which could have been said in 100. Causes one to wonder what they try to hide in all of the verbiage?

BK

Hi Sharky:

Pardon but I am not so sure that the Euro can survive. In order to do so, the individual nations constituting the Euro will have to give up control of all things monetary to an over arching centralized monetary authority. In turn this would mean that all things fiscal and monetary would be required to rest with a centralized monetary authority having powers far beyond just monetary authority (the lack of which is the central weakness of the Euro). In reality this would mean a monetary power shift in the direction of Germany as the only truly legitimate monetary authority.

And Germany during their experiences of total inflationary collapse following WWI will never risk such again.

Under such a scenario I can imagine that Germany will take an attitude of " This will be done our way or we shall reprint Deutschmarks ( if not already done) and everyone else can determine for themselves what they wish to do".

Brian

Brian