RE:RE:RE:RE:RE:Way to Sure of Himself and Completely Wrong! What a load of shite. You can tell from his description of Sherritt's business that his knowledge of the company is superficial. He clearly implies in his comments that the bondholders will end up owning the Company during the reorg of last year. The problem with these BNN guests is that they are often asked to comment on things they know very little about. He would have been smart to say that he didn't know the Company well, it wasn't something he was looking at and that he thought there was such and such a risk, or whatever. Instead, he let his ego and hubris get the better of him and made apocalyptic predictions about something he knew little about.
Every situation is unique and needs to be analyzed with that in mind. While a reorg of the type Sherritt undertook can result in dilution to shareholders there were facts unique to this situation (the often referenced unutilized security basket for example) that gave the Company leverage with bondholders. JJ