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Shornaked.Very Important. What is the judge said on this allegations, of a manipulation, in his decision?
The new president must resolve conflicts with its former Shareholders and retirees, because the shame will descend, soon on this company. He must quickly, to restore an image worthy of such a company. I want a full recovery, not a part of my shares and I denounce it publicly until I have not been successful. I admire Peter with so much energy with a judge who also seems unsympathetic. Bravo! if he wins the case. But the battle will continue on another level much more powerful, and it is about to be politicized across Canada, Europe and America. I did not mistake for Friday because we have nothing of value from the company which continues its opulence disgraceful to its builders. Mr. Garneau is like Paterson, he has his hands tied by the CDS Backstop.
your hearing is set for what date?
The responsibility of management is a big question. The merger was approved by a study made by the company, and subsequently granted by the Canadian and U.S. offices on the competition. Thus, Mr. Weaver had a 50 million reward for his duties on fusion securing its shareholders in a saving of 500 million in cuts the administration. Moreover, the share capital was reduced to 50 millions. Thus, Abitibibowater under the control of Mr. Paterson, rather than by re refinance 200 millions shares between 20$ and 38$, they left unbuilding the share price at 0.30, which made it impossible to refinancing and was going into bankruptcy. Too easy, it takes a blind man, to not see behind the scenes this manipulation. Moreover, that Abibibibowater, was a public company and had a share capital intact. Those who must invest in order to take the risk as it should, in the restructuring of share capital to get through the crisis, we preferred to sell CDS to destroy what remained of the company. It is a criminal system that will be denounced, because he has become the economic terrorism. And yet, Fairfax was one director or two on the board. Obama and Harper will have to answer for these acts.
The big culprit, who is behind the scene is the Charest government in Quebec. They are behind a deal to buy an important part of the backstop. They cheat the workers and sahreholders. They expect that everything is set to take action. if the remaining conflicts are not resolved, there are some who will be ashamed of having been a minister in this government of mafia. For Basher who worked for the interests of these great schemes, go tell them that the time has come to repair their mistakes. If not, the truth will come out faster than he thinks.
Peter you are right. It makes no sense and I will not give up without that true justice is heard. A report was submitted to federal and provincial political authority for investigations. Some, went to read your appeal on the docket. They have your phone number and can call you for investigation. They will know by my name as a reference. Nothing is yet lost. I can not promise anything, but people are working very hard on the issue. They are a team of over 30 people and are very sympathetic to our cause.
AbitibiBowater to hold call on restructuring on Jan. 14
2011-01-07 15:07 ET - News Release
Mr. Duane Owens reports
ABITIBIBOWATER TO HOST INVESTOR CONFERENCE CALL TO DISCUSS ITS FINANCIAL AND OPERATIONAL RESTRUCTURING
AbitibiBowater Inc. will host a management conference call and webcast to discuss the emergence from its financial and operational restructuring at 9 a.m. (Eastern Time) on Friday, Jan. 14, 2011. Interested parties may listen to the one-hour live conference call by dialling 866-696-5910, and using access code 3276848. A webcast of the call as well as a presentation will be available on AbitibiBowater's website. A replay of the call will be available through Jan. 28, 2011, by dialling 800-408-3053 and using access code 1432588. A replay will also be available on the company's website.
AbitibiBowater's Augusta unit buys out partner.
Thu Dec 30, 2010 4:45pm EST
* Abitibi unit already owned majority stake in mill
* $90 million promissory note, and cash in payment (Figures in U.S. dollars)
VANCOUVER Dec 30 (Reuters) - AbitibiBowater Inc's (ABH.TO) Augusta Newsprint Co unit has purchased full ownership of its Georgia paper mill, buying out joint venture partner Woodbridge International Holding's 47.5 percent stake.
The transaction will see Augusta Newsprint pay Woodbridge a $90 million promissory note, plus the lesser of $15 million in cash or Augusta's pro-rata portion of the partnership's cash on the day before the transaction was announced.
Augusta Newsprint, which is a wholly owned unit of AbitibiBowater, and Woodbridge agreed to the purchase on Dec 23. The deal was disclosed in a filing to to the U.S. Securities and Exchange Commission on Thursday.
The two-machine Augusta, Georgia, mill has an annual production capacity of 419,000 tonnes of newsprint.
AbitibiBowater, which is North America's largest newsprint maker, emerged from bankruptcy protection this month following a reorganization that both reduced its debt and simplified its corporate structure. (Reporting Allan Dowd; editing by Rob Wilson)
http://www.reuters.com/article/idUSN3011718120101230
Steelhead Partners Discloses 10.2% In New Reorganized Abitibibowater (ABH)
http://www.streetinsider.com/13Gs/Steelhead+Partners+Discloses+10.2%25+In+New+Reorganized+Abitibibowater+%28ABH%29/6186730.html
Words of George Soros.
George Soros described the credit default swaps "instruments of destruction and believes prohibit their use.
"In some cases, bondholders held on CDS and they had more to gain from a bankruptcy reorganization of the company. This is equivalent to holding an insurance policy on someone's life while possessing a license to kill that person, "he said.
http://blogues.cyberpresse.ca/lapresseaffaires/dufour/2009/06/12/page/2/
Those who were afraid to Fairfax by the document below, knew where to strike.
This document is the most compromising on a possible manipulation and conflicts of interest.
In sum, what emerges from this document, it is a question on the involvement of Fairfax, one year preceding the bankruptcy? Therefore, if the responsibility for handling, to sink, Abitibibowater, he has a conflict of interest, major, as he had at that moment, at least one director on the board of the company. Remind us that the first duty of a fiduciary management is to protect its shareholders. However, they have planned a bankruptcy because it became more lucrative, so they are inconsistent with their fiduciary duties. (By law, the 12 months (maximum) prior to bankruptcy are called "suspect period).
In my opinion, lawyers, protesters of this document, knew how to attack Fairfax succeed. So I am wondering, what is the role of Fairfax before BK, by CDS, and, being a director of the company at that time. So his right to be the official representative of all shareholders of the company in all fairness, is surely questionable.
-----------------------------------------------------------------
Judge Holds Up AbitibiBowater Financing Over Fairfax Release
Fri Jun 18 16:58:26 2010 EDT
By Eric Morath
Of DOW JONES DAILY BANKRUPTCY REVIEW
1)A bankruptcy judge on Friday refused to approve a $500 million financing deal
for AbitibiBowater Inc. (ABWTQ) as long as that deal grants key investor
Fairfax Financial Holdings Ltd. (FRFHF) immunity from a possible legal
challenge.
2)Judge Kevin J. Carey of the U.S. Bankruptcy Court in Wilmington, Del., said
he would approve the financing deal, which AbitibiBowater claims is essential
to its effort to raise more than $1 billion to fund it emergence from Chapter
11, if the company dropped the Fairfax release. Carey scheduled another hearing
for Monday to learn the newsprint maker's decision.
AbitibiBowater is seeking approval to enter into a deal with seven
bondholders, including Fairfax, who've agreed to backstop a $500 million debt
offering.
"I can't conclude that inclusion of the Fairfax release is fair," Carey said.
Granting such immunity is "better suited" for a Chapter 11 plan, which is
subject to a creditor vote, he said.
3)Failure to obtain the financing, including the release for Fairfax, could
cause the company's entire bankruptcy-exit plan to fall apart, AbitibiBowater
financial adviser Steve Zelin said at a court hearing Thursday.
If Fairfax, a major holder of AbitibiBowater's bonds and stock, doesn't
receive the release, it has the right to walk away from its financing
commitments, said Zelin, a senior managing director at the Blackstone Group LP
(BX).
That may cause the six other bondholders to also bail on their pledges and
leave the company scrambling to come up with replacement financing, he said.
"The rights offering, the $500 million, is a critical element of the plan
because we need to be certain that all secured debt will be paid," Zelin said.
Without the funding, Zelin said AbitibiBowater may have to repay lenders with
stock rather than cash--a move that would reduce recoveries for unsecured
creditors who are currently in line to control the company upon its emergence
from Chapter 11 protection.
4)In exchange for providing $110 million of the backstop commitment, Fairfax is
seeking to be shielded from possible legal challenges related to its role in a
debt issuance that occurred about a year before AbitibiBowater filed for
Chapter 11.
Carey said that his refusal to include the release as part of the financing
is not an indication that he believes claims against Fairfax are valid or
significant.
5)The creditors protesting the release have said a lawsuit against Fairfax
could be worth $200 million.
The protesting creditors, including bondholders represented by Wilmington
Trust Corp. (WL), also said the company could obtain the necessary financing
without the backstop commitment.
6)Zelin, however, described the backstop as an "insurance policy" that protects
the company if credit markets should sour and gives it stronger standing to
negotiate a loan on better terms with lenders.
The notes issued as part of the rights offering would carry an interest rate
of 10%.
In exchange for providing the backstop commitment, bondholders including
Fairfax, Avenue Capital Group, Barclays PLC (BCS) and Paulson
http://www.cmemarkets.com/v3/2010/06/18/dj-judge-holds-up-abitibibowater-financing-over-fairfax-release/
it's really sad
Thank you. I find it. Super.
1) I need the history of stock prices after the merger in 2007.
2) the name of the company that conducted the study to recommend the merger to shareholders of Abitibi / Bowater.
Thank you in advance.
Posted December 17, 2010 at 00:01 | Updated December 17, 2010 00:01
The restructuring is completed, the five top leaders of the forest will share up to U.S. $ 7.7 million in bonuses
Bonuses to executives dream of AbitibiBowater
Now that AbitibiBowater (TSX: ABH) has completed its restructuring court, the five top leaders of the forest to spend the cash: they will receive up to U.S. $ 7.7 million in premiums of all kinds.
Recognition awards
By itself, the chairman and CEO, David Paterson, will leave with nearly U.S. $ 4 million if the company met its financial targets Montreal in 2010.
This is revealed in documents filed Wednesday and yesterday with the Securities and Exchange Commission (SEC) of the United States.
Mr. Paterson was first entitled to "grant recognition related to the restructuring" of U.S. $ 765 000 plus a premium of U.S. $ 382 500 if the company achieves its profitability goals for the six months 2010.
In addition, a severance payment of U.S. $ 1.34 million, which represents 100% of his base salary and the average of its last two annual bonuses.
In all, the five largest employers of AbitibiBowater will U.S. $ 2.16 million "grants of recognition" and U.S. $ 1.08 million in bonuses.
That's not counting 35 other company executives are also entitled to these "awards of recognition," but we do not know the total value.
In addition, four senior executives receive stock options and restricted stock of the restructured company worth a total of 1.74 million USD. Instead, Mr. Paterson will receive a lump sum payment of $ 430,000, or 25% of the value of options and shares to which he was entitled.
U.S. $ 150 000 per month
David Paterson will leave his position as CEO on Dec. 31, but it will remain an advisor to the Executive until 31 July. As such, it will receive U.S. $ 150,000 per month or $ 900,000 for six months of work (it will not be paid in January).
AbitibiBowater even reimburse Mr. Paterson's fees of the lawyers who negotiated his departure from the company up to U.S. $ 35 000.
For its part, the future boss of the Forest, Richard Garneau, will win $ 765,000 U.S. per year and will be entitled to an annual bonus equal to this amount if performance targets are met. He will also receive options to purchase shares, the value will be 225% of his annual base salary, or $ 1.72 million U.S..
Pierre Choquette, spokesman for Abitibi, said yesterday that the remuneration policy for senior executives was approved by creditors. He argued that it was below the average for companies of comparable size.
On the "gray market" of the Toronto Stock Exchange, the share of AbitibiBowater closed at $ 22.17 Thursday, up seven cents.
The plan is illegal, Abitibi forgot to meet its 6000 retirement. They represent one of the most important part of equity. They are mobilizing and are very angry against a law passed against them.
AbitibiBowater
Retirees refuse to bear the brunt of restructuring
Pensioners rally against Bill 129, Charest government that would allow the paper to spread out over ten years the repayment of its debt to the pension plans.
This measure, designed to help the paper to repay its debt to the pension and avoid bankruptcy, leaving retirees facing a difficult choice. They will go under the Pension Board and lose up to 30% of their income or stay with the plan of AbitibiBowater without knowing if the company happens to recover.
Pensioners, who were gathered in assembly in Donnacona, Thursday, refuse their pension fund would be used to pay the debts of the paper.
Pensioners are outraged by the offer made to them, especially as negotiations between the government, the company and the unions, they were never consulted.
"It falls to the same extent as if they had gone bankrupt. The government does not help us at all, "said one pensioner.
"I will not go away with the pension board, let me cut to 30% that they eliminate their debt and they go hard fat," said another.
The PQ member Francois Rebello came to offer his support. François Rebello has launched a call for mobilization of retired AbitibiBowater mills of Quebec. Retirees will have to agree on a plan of action.
Bill 129 should be considered next week in parliamentary committee.
The paper about 6000 retirees, including more than 300 to Donnacona.
http://www.radio-canada.ca/regions/Quebec/2010/11/25/008-abitibibowater-regime-pension.shtml
Good,In add. loved that piece of "journalism"!
the single question that needed to be asked, "why would anyone invest in your company when you just burned all your shareholders?",(by manipulation shortnaked and devaluation asset in process of BK) never gets asked....
what a sham!
Henry, calm down, it's just a joke. What I like about Liz is her emotional intelligence, because it comes from the heart. There are others also that I could detect in this forum, but my attraction is to the woman, I have an attraction to Liz, that you want. LOL ... Do not be jealous, I love you too. He must laugh a little.
For Mr. Parterson.
I would like to wish good luck in your new position. His retait pouvre me he is a good guy. It was surely an enormous pressure to cheat, its shareholdears and he was probably listening to his bosses. There are probably people, high class in this board and also are not proud of what they did to us. I am a positive man and without rancor and still believes in a positive outcome.
What really is important to me is your behaviour in front of your peers, family, work, community, and in front of the world.” “Remember, the universe is the echo of our actions and our thoughts.”
“The law of action and reaction is not exclusively for physics. It is also of human relations. If I act with goodness, I will receive goodness. If I act with eviI, I will get evil.” “What our grandparents told us is the pure truth. You will always have what you desire for others. Being happy is not a matter of destiny. It is a matter of options.”
I do not know if Peter will gets a miracle of the magic of Christmas and all our actions will return to their full value. I hope so, but I no longer believe in Santa Claus.
However, it is more logical from the compage to reinstate it better fighter and work together instead of wasting our energies to get our shares, which represents the livelihood of a lifetime.
In addition, the rebirth of Abitibibowater seems to draw the control on the board of the French power, the old Donohue attached to the Quebec government, Mr. Garneau was a leader in the pulp and paper with Michel Desbiens .. .. Is this new board is more civilized than the old one and he really wants to improve the image of the company who deserves human behavior and the first of its fiduciary duty to shareholdears must be the priority.
Thus, our new baby without this priority to return to his old shareholdears want, drag a heavy ball media. This will be far more costly than some thirty million dollars to meet this injustice. Because the important thing is that the truth will do its work, and any action taken will be destructive to the kings of the manipulation.
The costs will amount to not far from one billion and perhaps more while destroying the image of his evil. Best are investigators for this task are the journalist. Contact will be made after the holidays to the timing of publications. Dating Service for the moment have been held to finalize the development plan. .
This will be done for the well being of our baby. Thus, it will be purified of evil who have stolen our shares. In conclusion, to make peace with his old shareholdears would be beneficial and for everyone.
Good luck Peter. It does not let go.
It's my mistress. Do not say it to Henry.Lol.. .
I would appreciate your email, if possible, through this forum. If not, going by Liz. Thank you.
Thank you. I appreciate very much your info still relevant. Kepp your shares. You never know.
Is that a revocation is still possible? Because it may be that there is a media war you support you across the Canada. I promise nothing. But the policy is stronger when it speaks loudly.
The handling is great, it is also very political. It is on this front that I will play my last card. I still hope until the very end.
Is what this document could serve as evidence of manipulation??
Strategy cds / ABWTQ
Ban Credit Default Swaps? These Corporate Bankruptcies Show We Should
For frustrated investors looking to justify the ban of credit default swaps (CDS), look no further than last week's corporate bankruptcies of Canadian newsprint producer AbitibiBowater Inc. (ABWTQ) and U.S. shopping center developer General Growth Properties Inc. (GGP).
In both of these cases, credit default swaps became an actual bankruptcy catalyst - for the first time ever.
In the lead-up to both bankruptcies, the lenders who had debt outstanding - who would have the right to vote on any reorganization - had hedged their debt through credit default swaps and so stood to benefit from the company's bankruptcy. That made it very difficult for both companies to get the majorities they needed for debt reorganization, making bankruptcy inevitable.
The CDS holders were in the position of seeing a 1929-vintage stockbroker balanced on a window ledge, and yelling "Jump, jump" - while simultaneously taking bets on the result.
In the AbitibiBowater bankruptcy case, holders of credit default swaps played two key roles:
* They were spectators and potential litigants.
* And they were the generator of lawsuits.
Let's consider the first point.
When AbitibiBowater missed a bond payment on March 20, there were a lot of CDS derivatives outstanding that were close to maturity. Holders of these securities wanted to have AbitibiBowater immediately declared in default so that they could collect - a delay would allow their credit default swaps to expire.
However, non-payment of bond obligations generally does not become an actual "default" for several days (because the company is given a few days to come up with the money). Moreover, AbitibiBowater obtained a court order allowing the bond payments to be suspended while the company completed its debt restructuring. Thus, the CDS holders (to a value of about $500 million) were out of luck.
Or were they?
An International Swaps and Derivatives Association (ISDA) ruling on March 28 allowed CDS holders (as of March 20) to claim payment through a cash-auction system, as if a default had actually occurred.
The second role that CDS holders played truly was analogous to sadistic spectators placing bets at a suicide. Bowater (which had merged with Abitibi in an over-leveraged deal just two years ago) wanted to exchange its 9% bonds in order to improve its cash flow and to remove the likelihood of bankruptcy. To do this, it needed 97% acceptance from holders of bonds maturing in 2009 and 2010. The company was only able to get a 54% acceptance - largely because many bondholders also held credit default swaps, and so would actually benefit, rather than lose, from a Bowater bankruptcy.
General Growth, a shopping center developer with $27.3 billion in debt (real money even these days) - making it the largest default in U.S. real estate history - demonstrated the darkening cloud that's hovering over the U.S. commercial real estate market. It also underscored the risks of being involved with credit default swaps.
General Growth's mortgage debt had been securitized into mortgage-backed bonds, many holders of which had also bought credit default swaps, so debt restructuring proved impossible. Credit default swaps on General Growth's vaunted Rouse unit were valued by auction on April 15, and were deemed to be worth 71% of par, so investors in them received $710,000 for each $1 million of CDS they held - a nice reward for voting "no" to a corporate restructuring.
Guess what? If busted insurance giant American International Group Inc. (AIG) was the writer of any of the credit default swaps on either AbitibiBowater or General Growth, we as taxpayers have paid the profits of the guys who forced those companies into bankruptcy.
http://webcache.googleusercontent.com/search?q=cache:fAq5x-WKpZ8J:www.philstockworld.com/search/article/farewell-america-switzerland/sites/sites/default/files/Lunch_with_Dave_090409.pdf/content/zero-hedge-petition-break-debt-habit-freeze-debt-ceiling/page/2/partners/permalink/config.xml/page/10/+president+abitibibowater+said+that+sinkings+by+swap+and+derivative+product&cd=10&hl=fr&ct=clnk&gl=ca&client=firefox-a
Is the evidence of your report, shortnaked is enough?
Thank you. There is still a playing card, you never know.
How much time is left for one count of fraud and to revoke the plan. Is this even possible? Very important.
There are lots negativities in our world, but with that? so we get to see positivities. There's so much to seek and learn.? The clip ends on the note "There is no religion higher than the Truth."
"The current financial system is based on fraud"
Printable version of this article Printable version
Send this article by email title = Send by email
Wednesday, December 8, 2010 by Zone-7
(Source: Internet Freedoms)
On the way to the precipice
[Bill Bonner - Daily Reckoning - 06/12/2010]
? The problem with the current financial system, have we told a reporter for Bloomberg is that it is based on fraud.
Basically, there are paper currency - which is itself a form of deception. She pretends to be real money. What is true - in the sense that it can be used to buy things. But she tends to lie. All that the authorities have to do is operate the printing press: it tells you that you are richer than you really are.
This kind of stupidity lasts from the end of the Second World War. U.S. authorities, among others, have consistently increased the amount of paper currency ... leading people to believe they had more purchasing power than they really were. Today a dollar is worth only 3% of what it was 100 years ago.
But this is only the beginning of the scam. The authorities have also systematically undervalued credit - convinced that the key to prosperity lies in credit and consumer spending rather than savings and production.
The system has its architects and its operators - all crooks and charlatans. They pretend to manage the currency and the economy. Yet they do not understand how the most basic elements of a real economy. Wealth does not arise in the consumption ... it arises from the production.
Managers say they can manipulate the economy so they can improve their performance ... In other words, they believe they can ensure that the economy is doing better than it would be better ... only that of course it worked the last 2000 years. By eliminating the cyclical upturns, the authorities told us we'd all be rich ... and free from the volatility that afflicted us so far.
? Leaders fiddle and thus simulate ... ... improvising and inventing as events unfold. They raise rates ... and then falling. They introduce more currency paper when it suits them, and change the banking rules according to what their theories suggest.
When it goes something "bad" - defined as something they dislike, they rush to fix the problem. But what can they do? A little tape money. A bit of wire budget, too.
Their remedies are not entirely random or haphazard. They are biased - towards more credit, more spending, more cash and more than speculation. If they tighten rates a month, then they loose for two months. If they produce a surplus in the accounts of the nation a year, they have deficits in the next five years.
Gradually, more and more debt, mistakes, poor judgments and foolish speculation accumulate. Then the authorities find themselves under pressure ... from one crisis to another ... providing credit to a zombie ... a lift to another ... and the raw meat to a third.
Then, suddenly, discipline and the constraints they yield needed as a worn rope. Central banks and financial authorities then take the bit between their teeth ... indulging in rigging and fraud related to their profession. The European Central Bank announced it would provide "unlimited liquidity" to those who need to fight against a debt crisis on the Old Continent. In the New World, the Bank of Ben Bernanke bailout of big banks already in North America in addition to those of Europe. And everywhere, the authorities are prepared to support each other ... and ... to fund the IMF with more paper money and credit ...
... All trying desperately to maintain system integrity.
And here they are arm in arm - the Fed, ECB, Europe and the United States ... not to mention Japan and Bank of Japan. Started ... towards the precipice.
The game is not over. I can to have big new tomorow. I hope that all will be positf.
I sympathize with you. Many here suffer injustice caused by the misdeeds of this manipulation. I hope everything goes well for you. I wish you the best.
Thank you, it's very appreciate.Good day.
Posted December 8, 2010 at 10:08 | Updated December 8, 2010 at 10:08 AM
"We believe that the worst is behind us," Peter Scott, vice-president
(Jonquière) AbitibiBowater sees light at the end of the tunnel and its leaders believe that the multinational will continue to operate for several more years.
At least that seems to be betting that the company, governments and creditors. Workers and retirees want to maintain their gains.
Normally, AbitibiBowater will emerge from all her problems tomorrow, December 9. "Basically, we want to free ourselves as soon as Thursday. But we will wait, because the process has been delayed twice in recent weeks, "said Peter Scott, vice-president of the company.
He recalled that the company has placed 20 months ago, under the law protection against creditors in Canada and the United States.
"If we had to get there, it was after a long process. Everything has not played in just six months. We must speak of a period of nearly 10 years. The company has not made a net profit since 2002. You could do a time like this, but at some point, it no longer and that is what happened in 2009, "he said.
The reasons for the downward spiral can be explained by several factors. There was the exchange rate. In 2004, the Canadian dollar was worth 0.76 U.S. cents and its value rose to 0.96 percent this year. "As we export a lot of our products, this has meant an increase in our costs by 26%. The newsprint consumption has fallen by 50 percent (from 10 to 5 million tons annually) and there was a significant drop in housing starts (2 000 000 600 000). The selling price of paper and lumber also suffered cuts, remembering that production costs were increased, especially with oil (106%) and labor (12%), "says Pierre Laberge.
Not to mention that the company was with a debt of nearly seven billion dollars, which cost him $ 600 million in interest costs annually.
"At one point we had more than one billion annual cost to perform before thinking about making money. We can not do it, "says Laberge.
Given this situation, AB has begun implementing a restructuring plan. The leaders closed 10 plants and eliminated 3.4 million tons of production capacity, has sold assets for $ 940 million and have increased the debt of $ 6.8 billion to $ 850 million, a drain of 88 per cent .
AbitibiBowater has also made annual reductions in certain contracts for a savings of $ 80 million in reduced costs of labor ($ 95 million) and procurement and transportation (80 million).
"We think the worst is behind us and that we are better positioned opposite the market. I believe we are well positioned for the future, "said the vice president of AB.
The multinational has operations in Canada, the United States and Asia, employs 11,000 people worldwide, including 8,000 in Canada and sells its products in over 70 countries. AbitibiBowater produces seven million tons of paper annually and 2.2 billion board feet (fbm).
http://www.cyberpresse.ca/le-quotidien/201012/08/01-4350363-nous-croyons-que-le-pire-est-derriere-nous-pierre-laberge-vice-president.php
To KFC44. Can you list the facts may be concerned fairfax and asking IMMUNITY.
Why in this excerpt Fairfax asked the judge IMMUNITY?
Judge Holds Up AbitibiBowater Financing Over Fairfax Release
Fri Jun 18 16:58:26 2010 EDT
By Eric Morath
Of DOW JONES DAILY BANKRUPTCY REVIEW
A bankruptcy judge on Friday refused to approve a $500 million financing deal
for AbitibiBowater Inc. (ABWTQ) as long as that deal grants key investor
Fairfax Financial Holdings Ltd. (FRFHF) immunity from a possible legal
challenge.
David may still be a stone launched. Thursday I met with opposition member of the PQ, I give him a folder. If this is positive, I will be in touch with Liz or Ergo.
http://www.cyberpresse.ca/le-soleil/affaires/actualite-economique/201009/15/01-4315999-laxisme-envers-abitibibowater-dit-le-pq.php
Bill 129 ON PENSION PLAN should be adopted at the national assembly in January. This legislation responds to agreements concluded between trade unions, government and the company. Now i imagine that trading can not be abolished on that title as long it is not official. Thus, if a trading, and illegal manipulation is behind this shameful BK, politicians surely have to ask questions.
Surprising trading. I wonder if the anger of the debtor is not spirit to turn against shortnaked, who made the company's collapse. Thus, the SEC did not intervene until the job is completed. Thus, the possibility that the shares exist, are reintegrated into the plans may be their strategy. Or simply, the announcement on the backs of existing shares would be a nice revenge against those who sank the company? In this case, the debtor's strategy is to play the game of cancellation until the last minute.