Take Stock – November 12

Canwest Limited Partnership, the unit of restructuring media giant Canwest Global Communications Corp. that holds the National Post and other newspapers, is in discussions with creditors over an extension to its debt repayment obligations.

Canwest LP wants debt repayment extension

Canwest Limited Partnership, the unit of restructuring media giant Canwest Global Communications Corp. that holds the National Post and other newspapers, is in discussions with creditors over an extension to its debt repayment obligations. The original deadline for creditor forbearance — or an agreement to hold off from asking for debt payments when a company is in default — was Oct. 31 and the first extension to that deadline expired on Monday. The Canwest LP said Tuesday it was talking with the lenders to further extend that forbearance as the company restructures.

The Canwest LP is not one of a number of Canwest Global divisions that are restructuring under creditor protection. It owns and operates 12 daily newspapers — including the Montreal Gazette and Ottawa Citizen — 23 community newspapers, online operations and other publications.


Some farmers had good year in 2008: statscan

A new report says last year was a good one for Canada’s grain and oilseed producers, but livestock producers — particularly hog farmers — had it rough. Statistics Canada reports rising feed costs and virtually flat market prices combined to put the squeeze on some farmers as production and inventory of both hogs and cattle fell significantly. The agency says large production of grains and oilseeds and higher prices contributed to an increase in farm cash receipts in 2008.

Total farm cash receipts in constant dollars, which consisted of receipts from sales of crops and livestock plus program payments, increased 10.9 per cent. Virtually all of the increase — 96.2 per cent — was attributable to crops receipts Internationally, exports of Canadian agricultural and fish products in 2008 increased 18.7 per cent from 2007, while imports rose 11.7.