Canwest credit line tightens

The big bee that is over extension is coming back to bite a few companies in the butt, Winnipeg’s Canwest can vouch for that. This is what happens when you spend years building an empire by paying too much for crappy assets.

Who’s now going to buy newspapers in this digital age? Um – nobody. Most get the news for free on readers or other online sources. You don’t need to plug a landfill or recyclying container with reports of uninteresting stuff that happened one or two days ago.

The only downside to all of this is that once again, the loyal employees will be screwed over when shutdowns or CCAA takes place. One only need look as far as Nortel to see what happens to the ‘real people’.