Tenaris ADR Rep 2 Ord Shs T.TS.B

How the Torstar Debacle will Finally end.

[Mediawatcher]

Hi All,

Herein is my prediction on how this sad chapter in the life of Torstar will come to a crashing end:

• Financial results for Q3 and Q4 2019 and Q1 2020 will continue along the same awful trajectory they have for the past decade with cash being depleted and options for further asset sales and cost reduction initiatives being completely exhausted.
• Morale will sink to an all-time low as Boynton’s cast of misfits’ flails about trying to justify their bloated salaries and meagre to non-existent deliverables.
• Freddy Kruger will hastily make his retreat to Sweden, the land of Vikings when every editor in the company revolts against his imperious style.
• Honderich will be forced by the Voting Trust and perhaps the Board to acknowledge he doesn’t have the faintest idea on how to run a business and that meddling does not constitute governance nor management.
• After three years of promises and nothing to show for it, Boynton will be shown the door with bags of the desperately needed cash to ease his humiliation.
• The Voting Trust will finally realize that hiring CEO’s with no experience running a commercial enterprise (Prichard, Holland, Boynton) and having a lunatic overseeing them (Honderich) has delivered the massive value-destruction that is obvious to everyone in retrospect. 
• The prospects of an AGM in 2020 with an unbroken string of failures and no plan nor leader to salvage what remains of Torstar will be the needed stimulus to find a graceful exit. 
• The prospects of going down with the ship would only appeal to Honderich who is too proud to admit his failure, but the other families and family members will realize bankruptcy is too ignominious an end for them. 
• FFH or some other entity will find a deal that will allow the Voting Trust and B shareholders to salvage something from this decades-long debacle.