Tuesday, October 16, 2007

Magna and the CAW

I worked for Frank Stronach and Magna Int. for two summers. Watching the executive operations of a company was one of the luckier opportunities in my life. The highlight of both of these summers was occassionally bumping into Stronach, or listening to him wax to summer students in the boardroom, or watching him at the head of an employee meeting in a plant. He is strangely charismatic and so consistently unpredictable. This "Frank Factor" has, at times, probably discounted the stock of Magna. But it's hard to imagine what Magna would be without him. So, when this was announced today, I was greatly suprised. But I wouldn't bet against its long-term success.

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