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Canadian Investing / Canada (General)


Subject:  why is Co.Steel crashing ? Date:  10/7/2001  7:08 PM
Author:  UnkaBob Number:  22404 of 64723

Does anyone know why CEI is crashing.In August,stock was $6 and debentures $60.Now stock is $2.25 and debentures $30.Yes they have a debt indenture problem,but it has been around for six months.Yes they are in a depressed industry and are losing money but so is the rest of the steel industry.They took a hit last week for $13 million for staff reduction but this will save $5 million each year in wages.This company may be a bargain or some bad news hasn't been released yet.
Has anyone heard the bad news and if so,what is it.
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