Clearwater could be clear winner in market mess

The Canadian Press ~ The News
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A leading fisheries analyst is backing Clearwater Seafoods to weather the global economic storm.
John Sackton, editor of Seafood.com in Massachusetts, says Clearwater will remain a sound and profitable business over the long term.
John Risley says he's had several offers from banks willing to finance his purchase of the firm's publicly traded units, but so far the interest rates are too high to restart the deal.
Risley is co-owner of the Halifax-based holding firm trying to privatize the income trust and has been scrambling to replace Glitnir Bank of Iceland since the investment banker went into receivership.

Organizations: Clearwater Seafoods, Glitnir Bank of Iceland

Geographic location: Clearwater, Massachusetts

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Recent comments

  • Concerned!
    July 02, 2010 - 13:14

    Newfoundlanders and Labradorians please stay tuned and embrace yourselves for the Ride! More pressure is in store for the 'fish quotas' which the province of NL put under the directionship of Ottawa.

    If the Banks are interested, now, when they weren't before, that is the cue that the Fish Sector Sector has come into prominence with the Banks and those institutions see it as the only game in town to Finance.

    Everyone please keep your eyes and ears opened on this one and be more astute than you have been in the past. The stewardship of the fishery needs our undivided attention more than ever.

    Stay Alert and be far less complacent!

  • Concerned!
    July 01, 2010 - 19:53

    Newfoundlanders and Labradorians please stay tuned and embrace yourselves for the Ride! More pressure is in store for the 'fish quotas' which the province of NL put under the directionship of Ottawa.

    If the Banks are interested, now, when they weren't before, that is the cue that the Fish Sector Sector has come into prominence with the Banks and those institutions see it as the only game in town to Finance.

    Everyone please keep your eyes and ears opened on this one and be more astute than you have been in the past. The stewardship of the fishery needs our undivided attention more than ever.

    Stay Alert and be far less complacent!