AbitibiBowater, Inc. (fka ABWTQ)

[SilentMinority]

Pushing the Pieces

The navigation (negotiation?) of bankruptcy in many ways is akin to a game of chess. Tactics are deployed and moves must be considered far in advance. Game strategy is upheld or pieces/position are lost ... and ultimately the game.

In this respect, one might think that the shareholders are the lowly ranked opponent up against a Grandmaster (i.e. the Debtors). However, a bully's size and sophistication lends to an aggressive playing style that leaves our sophisticated opponent vulnerable. As the vunerable player covers its tracks, it finds itself overextended.

I anticipate that our “grandmaster” bully is losing value on the board and is increasingly exposed. :)