Canadians Worried About Foreign Takeovers, Want Action: Poll

Posted on Wednesday, September 12 at 15:02 by N Say
The results also reflected fresh concerns arising from the Aug. 27 announcement by Hamilton-based Stelco Inc. (TSX:STE) that it had agreed to a US$1.1-billion offer from United States Steel, leaving the domestic steel industry without a major Canadian player.

"My intuition is that it's a bigger issue today than it has been at any time in the past 10 years," said pollster Bruce Anderson. "For people, including Conservative supporters, to be saying in the numbers they are that they'd like to see something to limit this kind of activity is quite significant."

While foreign takeovers, including those of high-profile companies, have happened in the past, 66 per cent of respondents said they believed the activity has been increasing.

And of those, 71 per cent thought the phenomenon was bad for the Canadian economy, as opposed to only nine per cent who saw it as a good thing. Of those who said they were Conservative supporters, 67 per cent said they viewed foreign takeovers as bad.

The numbers in favour of government intervention were equally strong, with 72 per cent overall and 66 per cent of Conservative supporters[!!], who would be expected to favour letting market forces operate unimpeded.

http://telegraphjournal.canadaeast.com/search/article/67728

[Only 9% think foreign takeovers are good for the country? When Alcan got taken over the National Post had a big article saying it was great! I don't think that Competition Policy Review Panel has started hearing people's opinions yet but I'm sure they will soon. I'm looking forward to seeing their recommendations next June or whenever. -- NSay]

Link [Proofreader’s note: this article was edited for spelling and typos on September 13, 2007]

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Comments

  1. Thu Sep 13, 2007 7:05 am
    Go to CBC and watch "Politics" with Don Newman from Monday, Sept. 10th for
    an interview with Jim Prentice the shuffled industry minister.

    When asked in three different ways about the "hollowing out" of Canada he
    kept
    repeating that we need foreign investment for our competitiveness and
    prosperity. He also says something about countries that keep foreign
    investment out have suffered or met with hard times. (Likely CIA coups or
    USAmerican invasions) What was most apparent in the interview is the short-
    sightedness of such a policy. Never once was sustainability mentioned. Talk
    about a trickle-down effect with regards to head offices leaving for foreign
    soil and the jobs that relate to those offices being here in Canada
    disappearing.

    How long can you keep selling off Canadian companies until there are none?

    ---
    "The most sustainable product is the one you never bought in the first place."
    Alex Steffan

  2. Thu Sep 13, 2007 9:19 am
    "Canadians worried about foreign takeovers, want action"

    They want action, but from whom? Everyone knows that Stephen Harper is a foaming fascist libertarian, therefore one surely cannot expect him to do anything other than make matters much worse. The action Canadians seek can only come from themselves, and they had better hurry up and fix the mess they alone have created for themselves through decades of acquiescence, apathy, and for foolishly selecting the same brand of untrustworthy politicians over and over and over ....

  3. by N Say
    Thu Sep 13, 2007 6:17 pm
    I'm sure the Liberal party presided over way more foreign takeovers than the Conservatives have so far. The Conservatives were the one that created the Competition Policy Review Panel which is reviewing the Competition Act & Investment Canada Act. I don't know what more you could want at this point. If the government is going to do something it probably won't do it until they the panel releases their recommendations.

    ---
    "George Bush has declared the war on terrorism to be the cause of his generation. The cause of Canadian sovereignty will be ours." - John Godfrey, MP for Don Va

  4. Fri Sep 14, 2007 12:51 am
    "I'm sure the Liberal party presided over way more foreign takeovers than the Conservatives have so far."

    The Liberals were in power for a long time, therefore they were able to do a lot of damage.

    "I don't know what more you could want at this point."

    Harper has been given no reason to reverse the take over trend, so whatever government action may appear to be in progress is just part of the show. The only thing that can be done, is for the people to force an end to the take overs by kicking out the thieves and taking back control over their own government.



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