David BaskinBombardier Inc (Pref-D)BBD.PR.D.TOBUYApr 11, 2005

He used to own this preferred. It may yield 7% (it's been a while for him). He would consider owning the preferred, but not the common share. They're in a tough business, and BBD is allowed to fail because it is backed by the governments. But the preferred shields you from these ups and downs. The new preferred shares, however, are volatile, which he thinks shouldn't be issued. This is worth investigating.

Has disappointed. Recently cut a lot of costs out but Enbriar is taking over a lot of market share. Performing poorly and have lost a lot of orders. Management shuffle has not helped. Doesn't like the sector. Too much overcapacity.

3.85% yield. Better return than on a Canada Savings Bond. The balance sheet position is fairly robust. It looks like their end markets are improving.