Quote:
Originally Posted by cam_calderon
Edwards can afford to build his own rink, though. He doesn't need the public money. Do you disagree with that?
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You weren't asking me, but I absolutely disagree with that.
Murray Edwards doesn't have a billion dollars in cash sitting in his back pocket. The only way he could raise that kind of money is to sell his CNRL stock, and as an insider he would have to file for permission to do that. The moment word gets out that the CEO of a large company is dumping his stock, people assume the stock is not worth owning and the price craters.
And no, he can't borrow that kind of money against his stock either, because stock is risky collateral and the banks know it. They might consider lending him a third or a quarter of the value of his stock, but not for a money-losing scheme like building an arena in a town too small to make it profitable.