Yet another Canadian company gone!

I knew this one was just a matter of time. "Izzy" Sharp is selling off his coveted 4 Seasons to his new partners Bill Gates and Bin Talal (Bin, known to be able to write a billion dollar check without "making a call").

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1162853413941&call_pageid=968350072197&col=969048863851

The 75 year old Sharp says "Needless to say, when it's time to move on, it's good to have two of the world's richest men as partners."

"Perhaps the biggest winner is Sharp himself, who also gets a $288 million paycheque"

In recent Canadian news there's been many talks that important Canadian icon companys such as Dofasco, HBC, ATI and most recently 4 Season's are being sold to people out of the country. The 4 Season's is said to be the BEST hotel chain in the world!

Thoughts?

Vasco

 

let me ask you this vasco, if Bin Talal wanted to buy VRS automobiles would you sell it and care?
I would sell my company in a heatbeat for a profit, and wouldn't think twice who the buyer was.

 

Tell me about the Dofasco deal.

I was at the Raptors game on Sunday and
one of the persons involved shook the
hands of Tony Parker before the second
half started. I think this guy is a
Frenchman, as is Tony.

I was told he was involved with Dofasco.

 

Canada needs to keep its companies Canadian. If all our innovations and technology becomes outside property, who will we be in 10 years, another faceless country who gets ths crappy outsourced jobs??? Canada is a lot better than that.


We need to keep our technology and innovation HERE, to protect our citizens and eonomy.

 

The interesting angle is that despite Canada's attempt to be moderately socialist yet maintain economic growth, they are still outpaced and outfunded by entities from economies that don't impose such restrictions. I'm not saying Canada should be like the Middle East, but when it comes knocking it's tough to fight money from there held by people who don't have the same taxes nor social burdens. It's like war where the bad guys don't follow the same "rules."

 

in my oppinion, if i work hard for years and build my company up to be a great success and one day some rich guys come along and offer me mega-bucks for it, i can take it three way's.
a:My family and i will be financially secure for the rest of eternity(unless a grandson or something blows it)
b:keep the "regular"(myself included)canadian's happy by not selling it?!
c:keep on going for another 10-20 years and make that money myself.
now this of course will not happen to me for at least 10-20 years but when and if it does, I will choose option A and go live on a island somewhere,and fornicate hot women.

 

From my experience with sell-offs; (not applicable if you took in 1 B dollars!)

a: Sell your company, then pay 1/2 in taxes to the government, then realize that it wasn't worth it, and start working again shortly afterwards.

b: Retire on an island, when you realize that you are bored all day long you will spend your retirement money very quickly. (Have investments for backup).

c: Fornicating hot women is costly, (aka sugardaddy) they will expect much in return, quickly draining your funds.


MADE IN CANADA ------> #1 !!!

 

Yeah being at ATI, which was one of Canada's bright spots in technology and having just undergone the final acquisition phase by AMD about a week ago, I've had pretty mixed feelings about the whole deal. When it comes right down to it though, there are big dollars involved and the competitive landscape can sometimes force these types of consolidations in order to survive and to continue growing.

 

Indeed.

Like James, I have no qualms about selling my company to "foreigners".

 

........as long as their cheque clears........

 

i agree, about being bored etc., but you would have time to travel, take flying lessons etc., and when you look like me you don't have pay for chicks
haha

 

Who cares if a foreigner bought any retail, or commercial business. The sale of a little store isn't gonna make or break the economy.

Its the homegrown industries that must not be sold away, companies that have proprietary technologies, ie: RIM, ATI (too late), Ballard Power, Nortel, etc... These are just a few companies that were founded and grown significantly in Canada, using Canadian R&D, and a Canadian workforce. And selling their repected products throughout the world.

We shouldn't be the ones doing all the dirty work, ie; getting the loans, funding, selling, growing, maintaining workforce, only to turn around and sell it all for a cheap profit, thus letting the outside buyer use the succesful company against us in the future.

 

Stock jumped $20 overnight.

 

Hi James. I just though the subject to be interesting. I personally didnt really say yes it was a good or was a bad thing.

Personally, I would sell. Why not?! It's always about the bucks especially for us slimey used car salesmen

Like Keith said....as long as the cheque clears!

It's the companies that are basically part of our Canadian heritage that is sad to see go such as HBC etc.

By the way who's VRS? LOL You dyslexic dude?

V..

 

check = CHEQUE !!! You're dyslexic dude!

 

Come again?

 

Casper the friendly ghost i see !!

 

Speak for yourself, bubba! Remember? Friday? Hmmm?

 

La Senza (Canada) being bought by Victoria Secret for $750 mil USD.

Does this mean we will finally get to see the real VS models in the catalogues, not a bunch of bummed out, dull looking Canadian chicks??

 

wow lawrence is going to be even wealthier now.

 

Funny, I was thinking of posting this yesterday here too. And yes, hopefully the models will be like the VS ones. WOW!

 

I have been distributing my products to US companies for quite a few years now. In addition, I am constantly asked in a round about way if I would consider selling my company. In the same breath they want to know if they would be considered the one company with the first right of refusal.

Hey things are just starting to take off. Another Ferrari in the near future.

How can I make the selling of my company as painfull as possible to the potential buyer. After all, it is me and my families future that I am planning for.
Consider this, when you sell, your time at the company is limited and after a while your name just goes into a file and you are history, a thing of the past.

Sell, Sell, Sell

 

I agree.

 

The free market should determine which companies are bought and sold, and by whom, period.
If the Government thinks there is a problem with Canadian companies being bought out by others, then they should create a better business climate so that other companies relocate to Canada AND more Canadian entrepreneurs can create new companies to replace them.
Of course this is not the Canadian way, so don't hold your breath.

 

We live in a global economy. When it comes to money (and just about everything else related to our personal wellbeing), "patriotism" is non-existant for 98% of the capitalist world's population...

Those who dislike this fact should make sure they only buy Canadian products, including champagne, cheese, watches, cars etc.