CAD Railway has put out a presentation on their website presented by Fausto Levy, the president. It can be found at
http://www.cadrail.ca/eng/cadri_presentation_2010_ENG.pdfI don't know what to make of it. Is it CADRI being pushed as an independent company or is it part of GBI's hope to increase CADRI's exposure?
In my opinion, this document was written in anticipation of a different scenario than what we presently know, or it is a poor document based on previously disclosed facts.
1) No warnings and notices found, which is in every GBI press release or commentary.
2) Mission statement that is independent of GBI's.
3) A lot of the same PR data GBI uses in its presentation are duplicated.
4) On page 9 it states that they are looking for acquisitions.
5) On page 10 it states that they have a very strong balance sheet and $30 million line of credit.
In the last two points again is the President referring to CAD under new ownership, or is he oblivious to Global's financial position (Yikes!)?
6) On page 13, short term goals, more M&A talk.
7) On page 14, although the presentation is not dated the new VP Finance, who started in November, is included.
8) 710 ECO, this type of unit was to generate a lot of business for CAD, than Buy America came along, which means customers get subsidies for rebuilding their locos in the US (Funny, they don't mention this).