Alekbaylee

So, that would bring FBK closer to Canfor in terms of Debt to capitalization ratio : 14 vs 15% for FBK. Among the lowest in the industry. Very good!

Next target ... share buyback and/or dividend announcement T&T, you beat me to it...

I mean, no one forced anyone to charge things That's right. But 20% is damn high! So maybe "How to avoid sky high loan companies 101" then... It's more PC ;)

I do appreciate the fact that Visa has so much faith in my longevity LOL! That's true! This is just an example of why I have always felt that a short course on credit should be mandatory before anyone graduates from junior high school. Yeah, could be titled "how to avoid shark loan companies 101" ;D

Hard to see how this is solved without a severe shock to the system. That's the fear. And now, rating agencies are going after Italy. S&P cut Italy outlook to negative this morning.

Greek prime minister admits return to bond markets in 2012 unlikely, further aid needed Ok, so we're there... http://ca.finance.yahoo.com/news/Greek-prime-minister-admits-capress-4013200088.html?x=0

http://ca.finance.yahoo.com/news/Carlos-Slim-eyes-Canada-reuters-2312972556.html?x=0

This is not going to end well, either! http://ca.finance.yahoo.com/news/Fitch-ratings-agency-capress-3851246678.html;_ylt=AgJQlbtNtON5DXZL5wIO.kZyzJpG;_ylu=X3oDMTE4NW00MDR0BHBvcwM0BHNlYwN5ZmlUb3BTdG9yaWVzBHNsawNmaXRjaHJhdGluZ3M-?x=0

and which falls under more stringent regulations the packaging or the food Very true, specially when you think fast food...

Looks like management is doing its best to turn around the weak link of the business, but it'll take some time and there's no guarantee they'll succeed. Longueuil's Fibrek Inc. got a boost from rising virgin softwood pulp prices in the first quarter, but is shifting recycled pulp production at its two U.S. mills toward the domestic market to improve margins, CEO Pierre Gabriel http://www.montrealgazette.com/story_print.html?id=4813615&sponsor=

Fibrek looking at entering the fast food packaging market The Quebec company said Thursday that it has asked the U.S. Food and Drug Administration for authorization to sell its recycled fibres to fast food packaging makers. Fibrek, which holds 48 per cent of production capacity of recycled bleached kraft pulp in the United States, would become the most important player in this market with FDA approval. At this time, only small producers of this kind of pulp have been granted FDA approval. Chief executive Pierre Gabriel Cote said his company is also interested in making tissue paper but wouldn't say if Fibrek is interested in buying five plants that Cascades (TSX:CAS) has just put up for sale. http://ca.finance.yahoo.com/news/Pulp-producer-Fibrek-looking-capress-3924726351.html?x=0

Very disappointing results. Hopefully they'll be sold. Nonetheless... May 19 (Reuters) - Fibrek Inc: * Raymond James Raises Fibrek Inc target price to C$1.60 from C$1.45; rating market perform:

SEC would require more details on each rating, bar sales staff from participating in ratings http://ca.finance.yahoo.com/news/SEC-require-details-each-capress-427139063.html

Make sense? Absolutely!

Cohen counter-attack... maybe in desperation... http://www.bloomberg.com/news/2011-05-13/sac-says-cohen-s-ex-wife-met-with-fairfax.html

If the dollar becomes too strong, it hurts tourism, manufacturing and import-related businesses. When the dollar weakens significantly, it hurts our resource, export economy. Sanj, Isn't that the other way round? i.e. when the CDN $ is strong, it helps import-related businesses (cost us less to import) and when it's weak, it also help our exports (the demand for our products rise)?

Very interesting and bode well for FFH as well.

Interesting paper from PWC on the M&A perspective in FPP industry : http://www.pwc.com/en_GX/gx/forest-paper-packaging/publications/pdf/FPP_deals_2011_v6.pdf Looking ahead into 2011 and 2012, we believe the prospects are good for a sustained upturn in FPP deal value from the floor reached in 2009 and 2010. Confidence is returning to those markets that have been hit hardest by the downturn while the outlook for growth markets, and the need to secure and grow fibre supply, remains very strong. The contrasting balance sheet strength and weakness between companies in the pulp and paper sector will present deal opportunities and, in Europe, a round of much-needed consolidation appears finally to have begun. We also expect deal momentum to flow from moves by companies to diversify into new, growth markets, reposition product and operational portfolios and from a continuing flow of institutional money into timberlands.

Is that what you're looking for? http://seekingalpha.com/instablog/205992-freddy-hutter-trendlines-research/149187-realty-bubble-monitor-monthly-update

I would like to see FBK go debt free and institute a dividend before they do anything stupid with the cash flow. I would also like to see them get on with the energy facilities PDQ before they lose their grant. Amen!

For FBK, other than the obvious NBSK pulp price, I look at cotton price specifically to gauge the commodity trend. There was an interesting comment this week regarding this trend... BHK pulp China – Market pulp shipments to China were up by nearly 100% in March and by 35.5% over the first quarter, according to PPPC statistics. Chinese import statistics showed slightly lower increase in March but the cumulative gain was very similar. Import statistics show the big difference between BSKP and BHKP. Over the quarter, BSKP imports were up by 53% but BHKP by only 7.5%. This is partly explained by the much talked BSKP purchases by the viscose fibre producers for textile end-use. In April, the price hike in BSKP has pulled BHKP with it, even if the supply/demand balance still appears less tight for hardwood grades. BCTMP import increase of over 50% and the large increase of domestic BHKP production have played a role in this development. The PIX BHKP China index continued to move up, this time by just 98 cents, or by 0.13%, and closed at 766.81 USD/ton. Yuan strengthened last week marginally, or by 0.05% against USD. The conversion of the USD value into Yuan meant an increase of just 4.08 RMB, or by 0.08%, to 4977.35 RMB/ton. http://www.foex.fi/ I don't know where FBK is heading, but can't help to think about one comment Prem made at his last Ivey School lecture : (not verbatim) you know when a Co keeps going down something always happen... either they're gonna be bought out or... anyways something always happen... So we'll see...

It's sort of a swap. They're pushing back debt maturities again. Probably have something in mind (another big acquisition?) http://finance.yahoo.com/news/Fairfax-Announces-Private-iw-1940079786.html?x=0&.v=1

http://finance.yahoo.com/news/Fairfax-Announces-Cash-Tender-iw-2881223077.html?x=0&.v=1

Canfor Pulp Products reverses loss, posts Q1 profit of $40.6 million http://ca.finance.yahoo.com/news/Canfor-Pulp-Products-reverses-capress-3748919103.html?x=0 Hopefully FBK is on the same track...

And for more details, please refer (or wait for) to next year's Hollywood block buster : How Seal Team Six captured Bin Ladin or the True story of Bin Ladin's capture, etc. ;D