Sunday, November 07, 2010

Potash Deal Hits the Wall

"No matter who controls the company, however, the damage to Canada’s reputation as a place to do business is done. Now that the Conservatives have joined the protectionist bandwagon, investors have lost their chief ally in Ottawa. Other countries will doubtless be more welcoming."

The Economist

There was a time when Stephen Harper actually stood for something. The decision by the federal government to kill the potash deal is proof that those days have long since past. We'll never know if the deal BHP was offering for Potash Corp was good for Canada or not. We do know that it's dead. We also know that this so-called conservative government is responsible for the only two rejections of foreign takeovers under the existing legal framework. Brad Wall's provincial concerns about the coffers of his rentier state should not come above national interest. Saying no to foreign direct investment in the midst of a major recession is reckless and endangers the future economic welfare of this country. If I were BHP, I'd be asking the government of Australia to take this to the WTO as it seems to be a clear violation of the principle of national treatment. The Mayor-elect of Toronto boasted that Toronto is now open for business. Under Stephen Harper, Canada is now closed.


CanadianSense said...

Really, two deals nixed in 18 years and we have a socialist PM now?

The current account balances, sovereign debt, currency war over trade imbalances and manipulation are on the radar.

Potash makes for billable hours by the merger firms.

Tof KW said...

"Really, two deals nixed in 18 years and we have a socialist PM now?"

Drawing your own conclusions again CS? By the way, go post on Stephen Taylor's blog because, yes, he seems to think so.

Oh, for the record, I actually support the Harper government's decision here.

Also I enjoyed reading the posts on Taylor's blog from CPC supporters who recognize this was a decision of protecting Canadian sovereignty and future economic strength over neoliberal laissez-faire capitalism ...good Lord they may actually discover what the Conservative Party used to be about. It's a debate that hasn't been held since Diefenbaker's time anyhow.

CanadianSense said...

Yes I have my own opinions, draw my own conclusions without the talking points from the party. Look for pom-poms on Lib blogs, many of us bloggers on the Tory blog roll have no difficulty in dissenting views.

How many Liberal blogs don't parrot the Liberal war room?

Ispos-Reid-leadership recent poll.
CPC base is behind the leader with 85% and general is 43% think he is best PM.

Ignatieff cam in third with 24% behind Layton with the worst base support of 55%.

Let's include relevant facts or signs of support. LPOC are down more than 50% from 2009 in donations?

How are the CPC doing?

Facts don't support the talking points from the opposition war room.

Potash, G20 spending on "glow sticks" make for nice headlines but have had little impact.

Let's listen to spin on the results from the November 29, 2010 by elections from the pollsters, pundits and war room. (This should be fun)

Will the Liberals improve their voter turnout and take Winnipeg and hold Vaughan.

CanadianSense said...


Potash decision, Helena, G20 glow sticks "talking" points from a failed media and war room that ignores the real issues:

The LPOC are MIA since 2006 based on votes in Parliament.(Fact)

To help you save some time here are those numbers.

You can check with Elections Canada or Pundits Guide.

Conservatives $ 4,514,207 from 39,785 vs. 2010 a drop off $ 469k with 3,011 less donors.
Liberals $ 1,944,231 from 17,810 donors vs. 2010 a drop off $608k with 1,271 less donors

Which party is taking the bigger hit as a % of the drop off(insert excuse here)?

Look at year end 2009 between CPC and "alternative" government in waiting party. Financial health.

The CPC has a much bigger tent of actual donors (2004 - ) and actual voters (2006 - ) according to public information.

June 28, 2004 was the LAST time LPOC had more popular support recorded officially. That was six years ago!

Feel free to apply some more "SPIN" and not connect financial health of a political party with reality at the ballot box or parliament.

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