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Weak real estate markets stall asset-sale plans as the company says it must restructure $229-million in debt within the next 12 months ...Read the full article
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Stude Ham from Canada writes:
They actually lost 550M$ on one the more famous race tracks in this world?
and they expect the shareholders to allow this corporate head to make deals that would put him in even greater control of the eroding corporate assets?
that's pretty hollow.- Posted 07/08/08 at 5:58 AM EST | Alert an Editor | Link to Comment
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bilbo baggins from Canada writes: The tipping point is past. Magna is on the way down. Time to go Frank. Your race track obsession is reaching Conrad Black levels. How do the shareholders put up with it?
- Posted 07/08/08 at 6:36 AM EST | Alert an Editor | Link to Comment
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Thomas Price from Canada writes: If memory serves me correct, about one year ago I and many other Ontario taxpayers gave Magna $14,000,000 in reasearch grants. Now they are prepared to finance a real estate deal two orders of magnitude higher than this. The $14,000,000 should be returned to the Ontario Government coffers immediately, prior to bankruptcy proceedings beginning.
- Posted 07/08/08 at 6:42 AM EST | Alert an Editor | Link to Comment
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