October 13 Editorial
BY THE TIME I CONCLUDE this paragraph several more game-changing details about the direction of BlackBerry will likely be making headlines. As of publication, Prem Watsa’s Fairfax Financial had made the only bid to privatize the embattled Waterloo, Ont.-based smartphone maker. But at just $9 per share, surely there will be a counteroffer to that initial shot across the bow.
Despite BlackBerry’s well-documented decline, it’s still worth more than $9 per share and the offer was likely as much about triggering movement as anything. BlackBerry is in crisis mode and needs to chart a new course to first halt, then reverse, the hemorrhaging. It possesses many lucrative assets, which is often overlooked. Perched in the corporate bank account is about $2.5 billion. The cash alone is worth almost $5 per share. The much sought-after patents should fetch anywhere from $4.20 to $4.70, maybe more. That means we’re looking at value of at least $9.20, without other potentially valuable intangible assets being factored in. If, however, a competing bid doesn’t emerge by the Nov. 4 deadline, it’s not beyond the realm of possibility that Fairfax may lower its offer.
OUR COVER FEATURE examines the future of nuclear energy and the role it will play in our resources sector over the next 25 years. We get a first-hand synopsis of where the industry is headed from Bruce Power CEO Duncan Hawthorne. With eight units in operation, the facility supplies 6,300MW of electricity to Ontario’s power grid making it the largest operating nuclear plant in the world in terms of output.
IT’S OFTEN SAID THE GOLDEN ERA for the manufacturing industry was in the 1970s and 1980s but Ford recently announced a tremendous reversal in fortune by committing $700 million to the Oakville Assembly Plant. It ensures almost 3,000 well-paying jobs for another decade. For each direct job it saves in Oakville, it’s estimated another seven jobs are created/saved in supporting automotive enterprises. And kudos to the provincial and federal governments for their significant support of this venture.
WE SEND ALONG CONDOLENCES to the family of Dave Nichol, the iconic TV grocery pitchman whose marketing genius spanned three decades and catapulted the likes of Loblaw and President’s Choice to levels very few could have imagined. I had the pleasure of meeting Dave during a collaborate effort between his team and a multimedia news and information network I was with in Toronto back in the late 1990s; he was always the consummate professional. Dave Nichol passed away recently at the age of 73.
AS ALWAYS, WE HAVE a number of intriguing inside stories on Canada’s most successful enterprises as told to us by corporate executives that you’ll find both inspiring and impressive. George Media takes immense pride in promoting Canadian business nationally – and to the world.