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Gold/Mining/Energy : Air Canada is taking off? -- Ignore unavailable to you. Want to Upgrade?

To: Luke12_15 who wrote (881)	9/30/1999 9:27:00 AM
From: Alomex	Read Replies (1) \| Respond to of 1033

Are you suggesting Onex can control the weather. And what do you think Onex would do when the pilots say pay us more or we walk ........ I'm suggesting that AC management "excelled" and "outperformed" its way into a $6 CDN per share stock, while your much loathed Onex has single handedly pushed the price of the stock to $10 CDN. You tell me which one is the fair deal for AC shareholders, $6 or $10... Take your time...

To: Luke12_15 who wrote (881)	9/30/1999 12:32:00 PM
From: Stephen O	Respond to of 1033

Finally a break for Air Canada shareholders ANDREW WILLIS Thursday, September 30, 1999 Air Canada has been run for a lot of different people in the past but, unfortunately, not for shareholders. The airline has certainly done right for passengers. Just look at all the seat sales rolled out as part of Air Canada's campaign to drive Canadian Airlines into the ground. And the airline has been kind to employees. Work 72 days a year, earn $200,000. We should all be pilots. Air Canada executives also can't complain about their treatment. Former CEO Lamar Durrett took home $428,000 in 1998, a year that Air Canada stock started at $14.75 and finished at $6. Which brings us to the one group that Air Canada hasn't been run for, the shareholders. The folks who actually own the airline. An $8 investment when the company went public in 1988 was worth $6.70 11 years later, prior to the start of Onex's takeover bid for the airlines. Until last month, Air Canada shareholders haven't had much to celebrate. Now the party's in full swing. No matter what one thinks of the prospect, Onex's bid to merge Air Canada and Canadian Airlines has been good for Air Canada stock, which cruised along yesterday at $10, up 30 cents, on the Toronto Stock Exchange. On Tuesday, the Ontario Superior Court's Mr. Justice Robert Blair gave Air Canada shareholders another reason to smile, and delivered a sharp slap to the airline's board of directors. Onex went before the judge to exercise the right that federal laws give to any shareholders that own more than 5 per cent of a company. Onex demanded a special meeting, where all shareholders could cast a ballot on its takeover proposal. And Onex won permission to hold a meeting on Nov. 8. Air Canada's lawyers were in the awkward position of arguing that the meeting shouldn't happen until early January, and that even when shareholders do get together, "the Air Canada board has not to date agreed to place the proposed [Onex] amendments on the agenda," according to court filings. Law firm Davies Ward & Beck argued the case for Onex, while Stikeman Elliott was on for Air Canada. This is what Judge Blair said about Air Canada's argument, and the italics are his: "Directors are obligated to call a validly requisitioned meeting, unless the directors have already called a meeting of shareholders and given notice thereof, and the requisitioners' business may be considered at that meeting." globeandmail.com