A foreign ownership update.(Brief Article)
Canadian Dimension, May, 2005 by Hurtig, Mel
From June 30th, 1985 to the end of December 2004 foreign direct investment tracked by Investment Canada amounted to $540.4 billion. Of that amount, hardly any took the form of new investment; 96.8% was for takeovers of existing businesses
Two-thirds of that investment came from within Canada, mostly from the big 5 banks.
Among the recent foreign aquistions are Petro-Canada, the CNR, Air Canada, Molson's, Labatt's and Tim Horton's. Over 125 Canadian high-tech companies have been taken over in the Ottawa area alone in recent years?
Our deep integration "task force" convoy of comprador sellouts keep saying that we don't have enough foreign investment and we should open up telecommunications, airlines, banking, book publishing etc, and etc....
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