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September 26, 2007


Andrew Opala

I'd have to agree with Seymour Schulich on some of these - but of course I have a different point of view. Any industry that has a large component on the Cash Flow statement from fuel costs will have spiraling costs for any new business entry. So I agree whole-heartedly with transportation and transportation related manufacturing as being no-nos. (But this gives entrepreneurs the opportunity to find efficiencies in these industries to beat competitors.)

Secondly, I don't quite understand his telecomm warning, but I assume he means the hardware and infrastructure stuff and not the content that feeds through it, and the software that enables it. Software has the best ratio of thought to converted cash flow of any industry. It is the only "engineering/construction" industry that only requires energy in the form of electrons in a wire but produces tangible goods.

Finally, as a defenisve measure, North American entrepreneurs should look in the areas that will cause economic pain - specifically the cost of energy. If new sources of fuel could be invented - then airlines, trucking, automotive, and most transportation would be good industries for other entrepreneurs. Canada will always need transportation to keep it's pieces connected. Energy is the only way this can be achieved.

There are opportunities everywhere. You just need to sit and think about it.

Rick Sandhu

I (being under 30) especially enjoyed Mr. Schulich's advice to young people. To paraphrase him: "If your under 30, don't sweat the small stuff...go out there and do what you do without fear of consequence or failure". Any thing to add to that?

Also, did anyone pick up the book that Seymour cited as being one of Warren Buffet's favorites?

Radovan Danilovsky

Small comment about Chindia and Nanotechnology. During a recent visit to China (Beijing) one of my friends, employed by Slumberger, was invited to Nanotech labs associated with Tsing-Hua University (the top Uni in China). They had a "modest" number of 20000 researchers on the topic of Nanotech!!! Unless Canada sabotages nanotech research in China, it should be very affraid. Very affraid!!!

Radovan Danilovsky

I cannot recall book that was Warren Buffet's favorite, but there are numerous books on Buffetology. Check out books written by Buffet himself, there is also a book written by his wife, and plenty books by unrelated people on Buffet. Have you read Hemingway's "Old man and the sea"???

Travel Guy

Good insight, where would airlines show up on that graph I wonder. Also, smaller discount airlines that use regional airports have higher margins and may be in a different class than some of the major ones.

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