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Quebecor: Markets Batter Print Too
January 22, 2008
The release is
brief: Quebecor World has sought protection from creditors. The investment comunity and bankers have made their analysis that the
financing deals are a no go here and in Europe, where an earlier deal to sell some units to Rotosmeets was quashed.
Despite the pretense of clinical precision, the markets and investment community are moved greatly by gut. The current turmoil in the world stock markets reflects this emotional component, which has a bad feeling about print.
Investors are looking for "happening" opportunities, a state of affairs that affects dot.com businesses as well (google=yes; yahoo=layoffs). Fast returns are sought from services, or trendy categories thought to have a future--solar power and alternative energies, for example.
And the vicissitudes of a capricious marketplace are visited upon the great and small. Apple's Steve Jobs, so dismissive of books ["No one reads," saith he of Amazon's Kindle e-Book] watched as
his stock wealth was savaged before the market verdict: his thin Mac notebook debuted at MacWorld is nice, but not enough.
Quebecor World's efforts to find funding reflect the diminishing appeal of manufacturing-based opportunities. That Montreal-based parent Quebecor, a publisher and media powerhouse, seeks to remove its name from its Q-W subsidiary is regrettable, and insulting.
But it could leave the company with a potential fresh title, and agenda: World Inc. You can comment here, or discuss amongst others at
GAM's forums.
Posted by Bill Esler on January 22, 2008 | Comments (7)