RE: It is a joke I am not as informed about the markets as lotusff and there validity in his comments. The TSX is lousy with manipulation. A couple of notes:
(1) Churchill's strategy was to dress itself up for a sale to a larger construction player. They spent millions cleaning up the place with emphasis on process and administration. However they took their eye off the marketing and operations and profits and outlook fell.
(2) The share have been punished because it takes about two years for any serious initiative to taker hold and affect the bottom line. Houck's rein of terror came home to roost this year. The current regime's efforts will be reflected in two years. The shareholders ran knowing this fact.
(3) Any manipulation is a result of sharks sensing blood in the water because of Churchill's weak management and board. They were bound to drive the ship onto the rocks. The insiders knew the company was in trouble. The investment analysts drank the kool-aid and failed to warn their investors because Churchill spent a ton of money with thei investment banking side of the analysts - don't bite the hand that feeds you.
(4) Churchill's has potential but it needs a serious management change. A large construction company can see that Churchill is worth double its current price if it starts to perform like its rivals. Most of its subsidiaries are very good contractors. Stuart Olson needs some TLC and is probably the weakest sister but they also have the most upside.
(5) I don't see ARE as a serious contender to come to the rescue. They have been burned before in their acqusitions and don't need another turn-around headache. They are concentrating on construction and it shows. Again, they hired a construction person to run their company.