Saturday, January 4, 2020

The CN Commercialization Act 1995, and broken promises.

House of Commons, Ottawa, Ontario - May 15, 1995.
1.) Broken promise Number 1...
"With the help of the deep pockets of the Canadian taxpayers, CN grew into what it is today...We want to make sure that control of CN is broadly based so that no single individual or company controls more than 15% of the shares."

Bloomberg News article by Josh Wingrove and Frederic Tomesco, May 16, 2017:
"Canada Hikes Ownership Limit for Bill Gates-Backed CN - Individual ownership cap for railway increases to 25%."

2.) Broken promise Number 2...
"CN's non-rail assets are not part of the deal. They will be retained by the Crown."
CN owns millions of dollars worth of non-rail assets.
 A few years ago the people of Kingston, Ontario begged Bill Gates to repair the Outer Station. People in Quebec wanted Bill Gates to "Paint Your Bridge", the Quebec Bridge that was sold to CN for $1 dollar.
In 2007 the company sold the Montreal Headquarters for $335 million dollars.
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The Foreign Investment Review Agency was established by Parliament during the year 1973 "to ensure that the foreign acquisition and establishment of businesses in Canada was beneficial to the country." FIRA restricted foreign ownership in the communications, transport and oil and gas industries, for example.
FIRA would have halted:
The denationalization of the The People's Railway. It is now called North America's Railroad.
The takeover of CNR and CPR hotels by the multinational Fairmont Hotels and Resorts.
The acquisition by Barry Diller (Fox News, Paramount) of more than 600 Canadian Broadcasting Corporation transmission towers, thousands of transmitters and the land on which they stood.
The sale of the La Ronde amusement park at Expo 67 in Montreal to a major American company.




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