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"Resolute Forest Products"! What a stupid name.
Why is this board still active? Is there anything still going on with the cancelled shares?
BK procedural question........
Does Carey have to take further action on his opinion confirming the POR - like actually issue a ruling? Or is the opinion all that's necessary? And does he have to issue a separate order canceling the common shares?
How about for $15 a share?
Probaby because a lesser fool was wanting to get out before it was too late!
Yeah, well, if he had approved the EC he would have one voice from equity and it wouldn't be a non-lawyer type. And it would have saved the company a bunch of time and money!
Unless you're on death row
and you hear the warden's footsteps.
The NAFTA case was only about the Newfoundland and Labrador lands. Right?
I don't know what that percentage is of the whole 43 million acres of leased land in all of Canada, but if Newfoundland and Labrador constitute only about 3% of Canada's land mass and are arguing that the rights for that small amount of land is worth $130mm, then I'd like to ask them what value they put on the leases throughout the rest of Canada (and the United States). But I'm sure Peter will do just fine.
Do the crown leases grant Abi the rights to sell carbon credits? Anyone here actually read one of the leases?
Now that we've got 'em right where we want 'em!
Geez Henry...Krispy Kreme or Abi equity. That's a tough one!
I'm going to do the same, but I want to read the transcript of the hearing so I can accurately quote the nonsense.
Wow! Are you sure you aren't the smartest guy in the world?
I would have liked to hear Jason ask them if they would be willing to assign us the timber rights since they apparently have no value.
Call me a fool if you must, but....
there is still a ways to go on this one. The judge hasn't confirmed the POR and for all we few know, there may be some shareholders out there wiling to continue the fight. And who knows, maybe our pal Patterson will develop a huge guilt complex when he realizes that we won't be able to afford the GI Joe dolls with the Kung Fu grip for our kids - and he throws us a bone. Nah.
My beef with Carey.
During the conference call on April 27th (?), HE recommended that we hire an attorney and file a motion to request the EC. I doubt that he had anything to say about timeliness or that we were too late in the game to get a fair hearing. Was the hearing fair? I doubt it. If we were given inside an hour to present this entire argument, then it's clear we were either summarily dismissed or we brought a knife to a gunfight. I'm not sure how this judge would expect a relatively small group of shareholders with very limited resources to make this a fair fight. So it goes.
That response came via a separate email.
I emailed investor relations just to ask the question - why are they continuing to spend money to send the end of day out if they intend to cancel shares. It took a couple of weeks, but this was their response. I left off the Abi contact information on the response.
A response from Abi regarding end of the day quotes via email
Only if the current plan as outlined is approved, the current shares will be cancelled with no recoveries to the holders. Our shares are still trading at this time.
Kind regards,
My email:
Can you tell me why, if the company is canceling the common shares, it continues to have the end of the day stock quote emails sent out? Is this required by the SEC or is this just something the company wanted to do for its investors in the name of good investor relations? How much does it cost the company to do this?
Thanks
Patterson probably sold Donnacona, Quebec a superfund site.....
and now they don't have to clean it up! Man that tub of lard Patterson is a freaking genius! LOL
What if Cap and Trade doesn't happen this congressional session?
There are primary elections being held around the country today and the Democrats seem to be a bit on the defensive. I don't think they'll have the will to cram another big gov'ment program down our throats before November and if it doesn't happen before then, it likely won't happen in Obama's term. The Canadians say they're going to follow the lead of the U.S. on Cap and Trade, which means we can't really look to them for any meaningful legislation. I'm not saying it won't happen at some point in the future, but I'm not sure that using it as a significant argument in support of equity value is great idea - perhaps as a supporting factor, but not as a main point. JMHO
By comparison, we're not just a hair on the tail trying to wag the dog....
we're the tail. And we're going to teach this dog that it still knows how to hunt.
Correlation between % of shareholders and approval of EC
Visteon's ad hoc EC apparently only represents 2.2% of the shareholders, whereas the ABI ad hoc group represents almost 30% - and with some effort that number might climb significantly. Is it reasonable to assume that the higher the percentage, the better the chance that the EC will be appointed?
Anyone know the story behind the appointment of Visteon's EC?
Assuming it is a court appointed EC of course.
Hopefully adding shares.
The not so fair Fairfax deal....
I probably don't know enough about commercial paper to be even threatening, let alone dangerous, so if this thought seems outlandish or naive, cut me some slack.
The question has to do with the timing of the issuance of the paper Fairfax holds, particularly the notes that are convertible to common shares. Is it possible that their investment was set up knowing that they could drive the company into BK and then reap the rewards - as opposed to an arms length deal to make a decent return on an investment? And if so, how discoverable would those facts be? Of course I'm assuming such activity would not be frowned on by the SEC - or then again maybe not if they can figure out how to get away with it.
The only reason I'm asking is I worked for a homebuilder in south Florida that was driven into Ch. 11 and I was close enough to the corporate office to know about some of the BS stuff that happened to allow the bums that drove the company into the ground to line their pockets.
Dude, if you're blaming Obama for the ability of a public company
to file a POR that wipes out the common shares, then..... I really have no response. If you're talking about something else, then please explain.
Voted for what?
That puts a few acres between me and my next door neighbor.
Maybe it'll be one of those friendly Fairfax dudes.
I'll take mine in Canadian timber land....
chop down a few trees
build a little cabin
sit back
and swat mosquitos!
What's the value of the NOL benefits?
And what's that divided by 54,700,000?
You sound like my ex-wife!
Any thoughts on the Far East Investments stock purchase at this point?
I say we become known as the "B9 Gang"!
What were the odds that this wouldn't be the case?
Cancellation is such an easy way out and clearly the common stock holders are by and large the easiest group to take advantage of.
If the warrants are valued at $10 per share
does that mean Fairfax can't exercise them until the pps reaches $10? And if that's the case, wont' there be a window below $10 to take some profit before they exercise and dilute? And if they do exercise, I assume the pps will drop immediately, but then regain its value based on a true valuation, not this silly trumped up valuation that is being trotted out for the Ch. 11 show? Or am I missing something?
Does Fairfax currently own common stock AND bonds?
That is, ABI common stock AND bonds?
I can imagine..... if the close is $25.
I was just kidding about the capital "C"s.
Thanks for the offer to help.
I did cc the judge, but I used capital "C"s, so he shouldn't be too offended!
Of course I haven't received a letter yet - or at least I haven't received my letter.