Fairfax Financial Holdings has a problem on its hands, an outfit called CanWest Global Communications Corp.
In 2007, Fairfax picked up an 11% interest in CanWest when the shares were trading at $6. The investment firm subsequently doubled that stake.
Now with CanWest shares trading at 28-cents and the future of the company in serious doubt, Fairfax has simply written off its stake in the Winnipeg-based communications company. It sounds like Fairfax isn't holding its breath waiting for Lenny Asper to salvage CanWest.