STADIUM DEAL NEAR COMPLETION

...Patience dog...patience.....you're barking up the wrong tree about time lines....these deals take a huge amount of time and effort...but it'll come....Look at the Ottawa situation....they have a well-heeled group, chomping at the bit, to get a stadium and franchise underway in the Cap. for... how long??????????Rome wasn't built in a day...or anything else of any magnitude for that matter :wink:

papazoola, Winnipeg has:

  • needed a new stadium for about 20 years. Since the 1980's.
  • talked seriously about building a new stadium since 2004
  • Asper's original plan, which had the stadium completed and ready to go by early 2008

It is now early 2009. Not 1 shovel in the ground.

There's a difference between "these things take time" VS "this is Winnipeg- things never get done."

I hope now you understand that difference.

Yes, Winnipeg can be a very frustrating city to get anything done, at times, but this delay is with the Federal funding, not the province or the city. And you can thank the Coalition of Wannabees for shutting down Ottawa for that one.

....Wellllll ye of little faith......read the last line of my previous post.....i shouldn't have to explain any furthur....Is there not an MTS CENTRE erected on the ol Eatons site on Portrage Ave.????????.....the stadium will come... :wink:

...I AGREE TO A POINT ...pigseye.....maybe the three amigos didn't help....but i'm not letting Harper and his gang off the hook...They were sitting on billions in infrastructure money and due to 'strings' attached to the dispersal of said monies...failed to do so...long before the coalition was formed....The trouble with the stadium financing moving forward is because of politicians playing politics.....I wished we didn't have to depend on any of these clowns....but that's not how this deal is stuctured,,,,unfortunately...... :wink:

Can West Global is in serious trouble. Shares are down 90% and are trading at 54 cents a share. It is also reported that Can West will soon not be able to meet their finacial obligations. Analysts are predicting the company will seek bankruptcy protection. With this all said, it would be very wise for governments not to loan any money to Asper until his solvency has been looked at. For taxpayers there should be a requirement for Asper to disclose his wealth and open up his books to the Government. We have no idea what is going on other than what he is saying.

...CanWest ain't going broke any time soon.....in any case, Asper has already stated that the financial health of CanWest has got nothing to do with his bid to build a new stadium in the Peg....Aspers 'other ventures' (real estate for one) are quite substantial and will keep him 'very solvent' for some time :wink: nice try dog.... :thdn:

Was in today's news. Asper bid will not happen anytime soon.

I wouldn't be so sure about that... I just looked at their Q3 interim F/S and they have $4 billion in long-term debt which is offset by $4 billion in intangible assets and goodwilll... which is all fine and dandy unless you are losing money. They lost 32 million in the first 9 months of the year, have only $63 million in cash and are sitting on about $100 million of unrealized losses. No wonder the stock price down 90% in the last year.

It isn't Nortel bad... yet. If you were a Canwest shareholder, you'd be better off if you sold it a year ago and bought GM!

Accounting gobble-d-gook aside, at $0.54 per share, the entire Company is worth less than Asper is planning on spending on the stadium.

Very good point Brettinhalifax regarding his shares. Asper has been talking BS since this whole thing started. The original location was to have been at Polo Park. He then tried to kick a bunch of residents out of their homes in point Douglass and locate his stadium at that location. I guesss he thought they were all low life's so it would not matter. These so called low life's told him where he could go. Now we have a third location. His empire is now worth squat. Can West shares have gone into the tank. What about his other business interests. I am sure those shares have hit bottom. Governments are not stupid, they will not had out money to a person who leaves his creditors holding the bag. That is one problem. The other is we have fans such as Papa. When told by Asper to jump into the outhouse hole they do so without question.

....FIRST OF ALL .....seeing as you missed the gist of my last post.....now read careful.... Asper said THE STADIUM DEAL IS NOT DEPENDANT ON THE HEALTH OF CANWEST.....now that we got that over with....the venture is still going forward....from what i've heard and read....till i hear different.....i'll go with that... :wink:

.......negativity just seems to come natural to some people, I guess.....too bad .....it would be nice to see something positive from you regarding the Asper venture....but i guess ...alas your touque must be pulled a little too tight and your dreaming up stuff.....Throwing people out of their homes.....lol...where did you come up with that drivel... Anyway ....I'm sure you'll enjoy the new digs ....even though you so admantly oppose them... :lol:

Papa you know darn well that people's home's would have to have been expropriated in order to build at point douglass. The residents who have pride in this area were fixing their homes and did not want to leave. Many made their views known in the Free Press. So stop being Asper's cheerleader. I see nothing positive in Asper's adventure at this time knowing that his financial situation may not be solvent. One way to settle this would be for Asper to open the books.

...OPEN THE BOOKS.......lol.....what gives you the right to delve into Aspers financial records.....are you with the revenue service ...orrrr a forensic auditor.... :lol: ...No my friend there would have been no expropriation of property...and IF there would've been a determination to acquire private property....the people would have been totally compensated.....HOWEVER....that deal is NOT on anymore...as you should know....Follow me closely....the new stadium is going to be built at the U. of M.....with Asper contributing 100 mil.....the province ...20 mil......the feds. 15 mil. Can't wait for the official announcement ...so you can finally get behind this project....... :wink:

As Taxpayers we have the right to check into someone's solvency if we are handing out taxpayers money. We don't even know that he has 100 million for this project other than his say so.

…now dog…you’re not only being negative…i believe you’re becoming delusional if you think Asper (who is a billionaire…note not milllionaire) hasn’t got enough dough…lol lol…you’re about as right about Aspers finances as you are about the new stadium …that being…not even close…LOL LOL…

Papazoola - I hope you are more right about the stadium than you are about Asper's finances. The fortunes of Leonard, Gail and David Asper have plummeted some 60%, from $833 million a year ago to $341 million For David Asper to be a billionaire, the family would presumably need to be worth $3 billion unless David was Izzy's favorite and got the lion's share. I don't put a lot of stock in the Sun, but the numbers come from Canadian Business magazine, and I don't think they were off by that much. Even if they were off by $500 million, Asper isn't a billionaire.

In the article, Asper says "Those folks really don't know what our business affairs are, because a lot of it's private." Which may be true, but also may be him trying to maintain the veneer of being rich and powerful.

I want you to be right about the stadium... but your assertions that Canwest won't go bankrupt, and David Asper is a billionaire come across more like wishful thinking than facts.

It's January 16th, 2009 and the new stadium "official announcement" is NOWHERE ON THE HORIZON.

Start getting nervous, people!

The economy continues to slide and people like Asper are losing all their fortunes. The CTV website had article on first Ministers meeting. It stated any public money doled out would be for roads, bridges, water treatment upgrades. Also some talk of building a civic center in Ottawa. No mention of money for stadiums. Asper is hiding true facts. He does not want public to know how much he has lost.

....I don't pretend to know everything about David Aspers finances ...but i'll tell you this......the guy would have to be either insane or a mental midget to embark on a project of this magnitude without the where-with-all to complete it....and you could be right about one thing.....Izzy definitely had a favourite son.....and sometimes the magazines get their facts a little wrong....so unless you have done an audit for David Asper recently....i would suggest that you along with the Biz. Mag. could have their facts and figures wrong????? :wink: ....In any case...I'm not here to argue David Aspers case....we'll just have to wait and see how the venture progresses from here :wink: