
A funny thing happened during my Michener-Deacon research in Manitoba. Leonard Asper, CEO of failed Canwest stopped by the Winnipeg Free Press News Cafe to talk about the end of the company. I decided to pause academic research and live tweet it.
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Asper says Canwest almost traded @NationalPost for @WinnipegNews in 2002 @wfpnews http://t.co/9i3CkqJgnY
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melanie coulson (@mel_coulson) February 21, 2013
After Canwest, Asper said he 'wanted to do something with his life.' He started fight network, multi-platform http://t.co/yXnh1q4Sw8
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melanie coulson (@mel_coulson) February 21, 2013
Asper says he's sorry so many people "lost their jobs or whatever", but he doesn't look back. @wfpnewscafe
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melanie coulson (@mel_coulson) February 21, 2013
Asper on first signs of trouble: No one cliff you drive off, series of events.
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melanie coulson (@mel_coulson) February 21, 2013
Asper says advertising profits started to fall at Canwest in Sept 08.
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melanie coulson (@mel_coulson) February 21, 2013
Asper says banks decided to call the loan, that Canwest could always have paid the loan
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melanie coulson (@mel_coulson) February 21, 2013
As Asper describes Canwest demise, two men at the back of @wfpnewscafe continue to shoot the --it.
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melanie coulson (@mel_coulson) February 21, 2013
@mel_coulson Welcome to the completely uncontrolled environment that is @wfpnewscafe.
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Dan Lett (@danlett) February 21, 2013
Asper says the two week extensions from hedge fund managers was 'to put a gun to their heads', force receivership
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melanie coulson (@mel_coulson) February 21, 2013
Asper uses finger quotes when describing consumer protection law
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melanie coulson (@mel_coulson) February 21, 2013
Asper says he knew the end was near for Canwest in July of 2009. @wfpnewscafe
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melanie coulson (@mel_coulson) February 21, 2013
When new bondholders came on board in Oct '09, Asper said he knew Canwest going to war.
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melanie coulson (@mel_coulson) February 21, 2013
In hindsight, knowing what the world knew then, there's nothing I'd have done different: Asper
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melanie coulson (@mel_coulson) February 21, 2013
Not one financial institution in the world was able to lend $$ to any company.
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melanie coulson (@mel_coulson) February 21, 2013
Asper says it became a battle of shareholders vs. creditors. We didn't say we have this for them, we said we had to save for us.
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melanie coulson (@mel_coulson) February 21, 2013
Asper says he can't have discusison with himself about whether he failed dad in company's collapse.
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melanie coulson (@mel_coulson) February 21, 2013
Man at table behind me says that it's a stupid question, laughs. @wfpnewscafe
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melanie coulson (@mel_coulson) February 21, 2013
Asper: We feel we pulled out all the stops.... you can't worry about what someone else might have done. @wfpnewscafe
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melanie coulson (@mel_coulson) February 21, 2013
Asper says the lessons his father taught him were invaluable, he takes them with him today... take with him on next venture
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melanie coulson (@mel_coulson) February 21, 2013
Asper: Clearly buying papers was what brought papers to this position. Not the acquisition, but the financing, he clarifies
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melanie coulson (@mel_coulson) February 21, 2013
Asper says Canwest papers were purchased with all debt, 'the first turning point'
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melanie coulson (@mel_coulson) February 21, 2013
Legacy of Canwest: led to creation of Asper Foundation, the things you see around YWG... That's all Canwest. Those are Canwest children
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melanie coulson (@mel_coulson) February 21, 2013
Asper says he gets a lot of letters from former employees who got a great experience at Canwest and are doing their own things. @wfpnewscafe
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melanie coulson (@mel_coulson) February 21, 2013
Mentions people now working for Shaw, everywhere else... note: no mention of Postmedia. (disclosure: my company)
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melanie coulson (@mel_coulson) February 21, 2013
Asper on future of media: Television merging into one pipe (high-speed data connection), video streams, content-on-demand, Xbox, Youtube
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melanie coulson (@mel_coulson) February 21, 2013
People who operate television channel now have multiple ways to reach the audience: Asper
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melanie coulson (@mel_coulson) February 21, 2013
For newspapers, nothing to stop newspapers from becoming a television studio: Asper, points to @wfpnewscafe
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melanie coulson (@mel_coulson) February 21, 2013
Asper predicts radio will survive.
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melanie coulson (@mel_coulson) February 21, 2013
I’m one of the pressmen from the Edmonton Journal that just lost my job and now it is happening to Calgary and Vancouver.
Leonard has no one to blame but himself. After his dad died he drove that company into the ground. He is not a business guy. He is a magot!!!