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Thursday, March 26, 2014

PKP No Financial Genius As Portrayed

This was posted on Facebook by Mitch Garber McGill graduate and now CEO of Cesears interactive gaming a NASDAQ listed company on PKP.

In Quebec we are facing an important election on April 7th. One of the key campaign issues is the separation of Quebec from Canada, favoured by the PQ (Partie Quebecois). One of Quebec's wealthiest business heirs is running on that platform:

A personal note on Pierre Karl Peladeau (PKP):

In announcing his candidacy to run for the PQ in the April 7th, 2014 election, PKP has been blindly portrayed as one of Quebec and Canada's top business minds. PKP inherited this company from his father. If you bought shares in Quebecor 14 years ago, March 1st, 2000 around the time PKP took over, you would have paid approx. $26.45 a share. In the 3650 days to March 1st, 2014, the stock never traded higher than that price, and today trades at around $25.29. CEO's of public companies are judged on their return to shareholders. It is almost impossible to imagine a worse 14 year performance than PKP's. To have produced a negative return is a remarkable failure.

In 2000 Quebecor reported 1.8 billion in operating income. In 2013 they reported 1.4 billion. As a public company CEO I am certain that it is impossible with this record to remain CEO other than by being a controlling shareholder, which of course PKP is.

This simple fact needs to be communicated widely in Quebec to a population being fed the propaganda that PKP is the financial genius that can lead an independent Quebec.

Cheers!

Press Officer (CLF)



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