RE:RE:SNC is Canada’s GE.I’m not short SNC.
the liabilities and losses will continue and this will erode
NAV despite partial ownership of 401.
The same break up value agreement was used for GE as it
continued to slide to sub $10,00.
This business of theirs has no moat.Lots of eager and better
managed engineering firms can step in and take their business.
Its way to early to play turnaround game here.
They will need to issue stock to raise capital. A lot of stock.
This will reduce NAV per share quickly.
look at the chart of Bombardier. Painful. Yes they had good
assets too once upon a time.
now it’s just a national disgrace.
Analysts can’t even get s grasp on the value of SNC as
there is just too much business erosion happening.
S&P is looking at a downgrade on their debt.
i love buying companies in distress but we are too
early here.
i May look at the bonds at sometime but not till
they’re below .50 cents on the dollar.
imho