How to look like a SooperGenius without even trying (II)
Today in the Chamber of Bootlicks, Inspirational Leader explains what is happening to AbitibiBowater:
We are now seeing today that the company that is losing half a billion dollars a quarter is now going to go through a restructuring: it is going to be slimmer, it is going to be leaner, and it is going to be fitter. We know how it has done that; we know how it is done. It has dumped off its environmental liabilities. It has sold off assets. It has closed down mills all over the country. So basically what it is has done is taken all of its financial obligations and dumped them on somebody else, but by doing by what we did, which the hon. member opposite agreed with and has stated so publicly, we have saved the Province from the embarrassment of being left with all of that liability.AbitibiBowater is going to be slimmer, leaner, and fitter.
And – though he doesn’t say as much – still in business.
And not bankrupt
So much for that justification for Our Dear Expropriation. As He told the House on May 3rd:
Mr. Speaker, I will tell you what was not an accident. It was not an accident that we decided to take a bold move, as a government, and decide to step up and fight for the rights of the people of Central Newfoundland, in the Grand Falls-Windsor and other surrounding areas. What we did was unprecedented in this Province, and we are extremely proud of what we did. We took the bold move of going in, after Abitibi had broken their promise to the people of Newfoundland and Labrador, and we took back our timber, we took back our land and we took back our water, and when we did that we are very proud of it because it puts us in an extremely strong position. So that was a very deliberate move. As a result of that, we are now in a position, that because of the environmental problems and liabilities that have been caused by this company that really does not care about Newfoundland and Labrador, we are now in a position where we have these assets that have value. Not only have we taken pride in repatriating them, they also have value. So we can now use the value of these assets to deal with the environmental liability, which we would have been responsible for because they intended to go bankrupt in the first place.On the other hand, Sooper Genius has managed to paint himself into the happy position whereby no matter what happens to AbitibiBowater, he predicted it. As he told the House on that momentous day of December 16, 2008:
Mr. Speaker, I cannot speak for the company but it is my understanding that they are realigning their assets and conducting the proper financing, obviously to keep that company a viable company. Its stock in recent days has dropped somewhat, and has dropped over a period of time. They did actually consolidate and are actually trying to improve their worldwide operations. We have no information before us right now that indicates that this company is going bankrupt under any circumstances.