My login server is still down and so I have opened access to the subscriber page without logging in. I had thought that this was also giving you access to all the reports but that was not the case. I have now opened up access to the recent updates such as Boston Pizza. I will press my vendor harder to get this server fixed ASAP.
On Friday, the S&P 500 was up 0.4% and Toronto was up 0.3%.
AutoCanada was down 5.2%. to $28.33 I bought this stock too early it seems but nevertheless I think my investment will work out and certainly it makes increasing sense at these lower prices. Management here has owned car dealerships going back as far as 1994 (when they bought Crosstown Chrysler one of the very largest dealers in Edmonton). They lived through the scary days of circa 2008 when Chrysler and GM went broke and were closing dealers. Even with a concentration in Alberta, I don’t think the conditions today in any way approach the scary days of 2008. AutoCanada was still nicely profitable in Q2 despite the slow-down in Alberta and so I suspect this company will continue to be profitable and to grow over the years. They may not be profitable every quarter but over time they are likely to do well. I observe that in every community car dealers always appear to be prosperous businesses over time. They are not exactly located in run-down buildings. I like the opportunity to own a piece of these prosperous businesses.
Bombardier and especially its preferred shares continued its face plant. It certainly seems like the family management here has been a disaster this past 15 years or more. They basically blew their brains out with debt. Hopefully they can come up with some drastic action like a government debt guarantee and or a sale of part or all of the company. At this point I would not be surprised if they layed off thousands of people. They need to restore some level of confidence that they are not headed for bankruptcy.
Liquor Stores N.A. reports on Monday and we will see if they were somehow able to improve profits despite the ultra competitive market they are in.