Well, this stock that I’ve written about for so many years – that is surely going to zero, but I own a ton of it – has lately been trading just under $6, giving the entire enterprise a market cap of $30 million. (Five million shares at $6 each.)
Its symbol is BOREF, and if you think it is lightly traded, you should see the stock of its ‘publicly traded’ subsidiaries. They barely ever trade at all.
Each Borealis share represents ownership of approximately one share of: CHOMF (Chorus Motors, last reported trade at $6) . . . COLCF (Cool Chips, last reported trade at $10) . . . PWCHF (Power Chips, last reported trade at $6) . . . and RCHBF (Roche Bay, last reported trade at $7). So each $6 Borealis share supposedly represents about $29 worth of its subsidiaries.
This is not for an instant to declare that the market prices of the subsidiaries mean a lot. Their true value is either zero (which I have to assume) or many times the current prices (which is my dream). Only time will tell whether any of this is real. But I’d rather own $29 ‘worth’ of the subsidiaries for $6 than for $29.
SPEAKING OF NUTTY STOCKS
Steve: ‘Actually, the price of SVNX never reached $2400, it reached $240. The quotes you’re getting are inflated by an adjustment for a 1-for-10 reverse split last year. But the 99.9% percentage loss is correct, as an unadjusted original share would now fetch only about 30 cents, down from $240.’
MY SUMMER CORN RECIPE FOR GUYS ON THE GO
It has been a while since I’ve shared a recipe from my work in progress, Cooking Like a Guy™ (remember to slam your open palm on the table for manly emphasis as you say it). So, with summer in the air, here’s one:
1. Buy some really nice young sweet corn.
I know this would seem to skip the “cook and slather in butter and salt” steps, which if you have time I would encourage you to take. But I have discovered, at considerable personal risk to myself by trying it out for you, that if you’re in a hurry, this works fine. Tasty, crunchy, with no untoward aftereffects.
“Corn Aldente” I call it.
“Eating Like a Rodent,” my partner calls it.
To each his own.
Just try to avoid the little poison pellets roommates may leave out for you around the baseboard.
SPEAKING OF FRESH CORN
James Redekop: “We use an online grocery delivery company up here in Toronto called Grocery Gateway. Just thinking about Karen Collins’ complaint about the waste of boxes: Grocery Gateway will take the boxes from a delivery back on the next delivery, to reuse (or recycle if they’re wearing out). Very efficient.”
JOGGING AROUND THE GREEN ZONE
Click here for a really interesting Iraqi-American’s account.
Quote of the Day
Every debt is ultimately paid, if not by the debtor, then eventually by the creditor.~Jim Grant
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