Posts Tagged ‘Canwest Global’

Monkey’s Paw?

In Bullshit Winnipeg, Uncategorized on October 7, 2009 at 2:22 pm

We got news yesterday and today that Canwest Global is entering into bankruptcy protection. The scheme will probably divy up ownership and control amongst the creditors. Which means……..that Global will no longer be a family run business. How did this tragedy occur?

Well, just because I have no insider knowledge of banking wizardry, doesn’t mean I don’t have an opinion. You know that I do, and here it comes.
According to Daddy; Izzy and Babs were/are very nice and very hardworking and deserving of all their lottery winnings. Daddy has alot of other interesting things to say too, but we’ll leave that out for now. We will say that Gail is a lovely girl who puts huge energy into all kinds of important philanthropy. We can also say that the 2 boys are well dressed with lovely wives and seem to take this empire running business very seriously.

So how do we answer the burning question?

Following this story and trying to make sense of this has been confusing, I know. Nerds all over the world are analyzing and speculating like crazy. It’s in every paper and on every news broadcast. If you pay too much attention to it, you will get dizzy and fall down.

Luckily, I have analyzed the analysis and I think I have the answer. Alliance Atlantis.

Right, the crumbling of Canwest Global is suspiciously linked to the downfall of another Canadian family run business with Winnipeg connections and that would be Seagrams. I suspect that Alliance Atlantis is an unlucky talisman just like in the story about the monkey’s paw.

When Edgar Bronfman Jr. took the helm, Seagrams branched out exponentially just like Global has done over that last few years under Leonard and David Asper. I’m not saying that growing the company was wrong or bad, not at all. Both Seagrams and Global benefitted from that growth at first and for a while it seemed like there was no stopping them.

And then…
Edgar Bronfman Jr. bought Alliance Atlantis which seemed like a fabulous and exciting idea at first. Shortly afterwards, Bronfman wound up with no more family empire and a reputation in tatters.

Last year, Canwest Global also aquired Alliance Atlantis and now it looks like they too are on the verge of collapse. Any good psychic should be able to tell you that this looks like more than mere coincidence. Hmmmmm.