from 2002 predictions
11. Air Canada goes bankrupt.
well it happened on April 1, 2003 but it still happened, when I reviewed this was surprised they were still going but thought they would try to IPO some of their divisions, maintenance, regional services and hang on for a year or two more. AC traded at a high of $8 this year, and is now at .98 cents. it is worth nothing. someone today told me they were going to buy it for .95 "just to see what happens". What will happen is this indivual will lose the $3000 gamble it is worth zero.
the company is a great short candidate. in 1999 made a good profit during the takeover battle, Onex, Air Canada, Canadian. The takeover of Canadian along with increased debt helped to kill the company. note I own puts on the stock.
SBC bought this stock back on April 1, sold it before got stopped out, SBC on March 28 announced an increase to their dividend to $1.13 and a special .05 dividend. getting paid 5.60% yield is not bad while you wait for better times. SBC is a small position and I still worry about some of the regulatory rulings that have happened and the ones that maybe be coming in the future.
Though the big 3 domestic car companies should have a nice boost in the share price if the war ends, and sales may also pick up for the summer. I would still avoid this whole sector, these companies are back to 0% financing deals to drive sales or large cash rebates instead of the financing. If any of these companies miss badly with their line up then the stock can get crushed, the one in biggest trouble is Ford. stocks may have a nice run, but would avoid them in the long term.
by the way sold CAE near its bottom
cest la vie.
thanks
selkirk
11. Air Canada goes bankrupt.
well it happened on April 1, 2003 but it still happened, when I reviewed this was surprised they were still going but thought they would try to IPO some of their divisions, maintenance, regional services and hang on for a year or two more. AC traded at a high of $8 this year, and is now at .98 cents. it is worth nothing. someone today told me they were going to buy it for .95 "just to see what happens". What will happen is this indivual will lose the $3000 gamble it is worth zero.
the company is a great short candidate. in 1999 made a good profit during the takeover battle, Onex, Air Canada, Canadian. The takeover of Canadian along with increased debt helped to kill the company. note I own puts on the stock.
SBC bought this stock back on April 1, sold it before got stopped out, SBC on March 28 announced an increase to their dividend to $1.13 and a special .05 dividend. getting paid 5.60% yield is not bad while you wait for better times. SBC is a small position and I still worry about some of the regulatory rulings that have happened and the ones that maybe be coming in the future.
Though the big 3 domestic car companies should have a nice boost in the share price if the war ends, and sales may also pick up for the summer. I would still avoid this whole sector, these companies are back to 0% financing deals to drive sales or large cash rebates instead of the financing. If any of these companies miss badly with their line up then the stock can get crushed, the one in biggest trouble is Ford. stocks may have a nice run, but would avoid them in the long term.
by the way sold CAE near its bottom
cest la vie.thanks
selkirk
