RE:RE:Shareholders' Equity Upside Downskier59 wrote: Air Canada seems to be doing pretty good right now !
Hi Skier from Africa Oil et al. Just a cautionary tale. High Finance 101... Shareholders in the "old" or predecessors Air Canada and Nortel were totally wiped out despite being warned by authorities that their shares would become worthless after they entered into CCAA proceedings. I recalled people were still buying those shares up around $1.00 and $0.50 or so respectively before the shares went dark and off the TSX board. Boy, were they screwed. Air Canada later came out of the CCAA proceedings, but the old shares were cancelled and the former shareholders were given zero new shares in Air Canada. Creditors and bondholders got most of the new shares... As for PRE, it is worth $10/share, but with a minus sign in front. (Negative $3 billion equity or deficit divided by 300 million shares). You can take that to the bank !!