Harper’s 2% stake in Chrysler is costing Canadians taxpayers $3.8 billion. Today’s Globe article says this loan is unlikely to be repaid. As such we are losing %3.8 billion to secure a measly 2% stake in near bankrupt Chrysler who operates in the moribund new car marketplace, which is highly competitive, in the way that Chrysler is not. This implies a value of $188 billion for Chrysler.
This is some four times the value of Canada’s high growth and market share dominant company, Research in Motion whose 566 million shares trade at a value of $87.48 for a total market capitalization of $49.5 billion.....or roughly 26 cents on the dollar for what we are paying for Chrysler.
This guy’s an economist? This guy’s the Prime Minister? Time for Stevie to go write that book about the History of Hockey......as he is causing Canada to be completely shut out.......or is it sold out?
Tuesday, May 5, 2009
Harper thinks bankrupt Chrysler is worth 4 Research in Motions?
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$3.8 billion of TAX PAYER's MONEY is nothing when you're afraid you might face election and you've got to buy votes.
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