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PostPosted: Sat Aug 12, 2006 10:53 pm
 


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Intrawest Corp., which operates some of Canada's best-known ski resorts, said Friday it has accepted a $2.8 billion US takeover offer from a major U.S. investment company.


Quote:
Intrawest shares jumped $8.65 to close at $38.44 Canadian on the Toronto Stock Exchange Friday, close to their 52-week high of $41.94.


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If the takeover is successful, Fortress would gain vacation spots across North America, including the Whistler/Blackcomb ski resort in British Columbia


http://www.cbc.ca/story/business/nation ... t-fri.html

This angers me to no end, we are loosing our contry one company at a time. these shareholders have no national pride, they will sell out for money was to easy.

This particular takeover upsets me because I love whistler, I get a seasons pass every year, it is Canada best ski resort, also best in this hemesphere.

I wish there was a law that any foreign form cannot own more than 49% of an existing Canadian company, I guess thats dreaming.


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PostPosted: Sat Aug 12, 2006 10:58 pm
 


Canadaka wrote:
This angers me to no end, we are loosing our contry one company at a time. these shareholders have no national pride, they will sell out for money was to easy.

I totally agree with you, it seems like every day there's an announcement of another Canadian company being bought out by foriegn owners. There won't be much left soon that's really Canadian.


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PostPosted: Sat Aug 12, 2006 11:02 pm
 


and sleeman's was just sold to a japanese beer maker too!!


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PostPosted: Sat Aug 12, 2006 11:03 pm
 


Alot of the shareholders probably aren't even canadian. And they don't care who owns it as long as they get return. This company who purchased it had to assume intrawests debt which i also don't get. All these resorts and all the real estate they sell on the resorts at exorbenant prices how could they possibly have been in debt....poor management of a company is all i can think of.


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PostPosted: Sat Aug 12, 2006 11:24 pm
 


You know at one point many many years ago, Canada even had it's own automotive companies. But they were bought out and absorbed into various US companies.


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PostPosted: Sat Aug 12, 2006 11:26 pm
 


Brazilian iron ore mining firm to bid for Canada's Inco


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PostPosted: Sat Aug 12, 2006 11:34 pm
 


Would you prefer the Chinese?
I'd like to see laws like Mexico, where non citizens can not own property. It may tank our economy but then, I'm a big picture guy...:-)

What boiles my bottom is when families sell military medals to foreigners. Thast should be illlegal.


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PostPosted: Sat Aug 12, 2006 11:38 pm
 


Mr_Canada wrote:

Hey, just wondering, but why is everyone so often's flag an Isreali/Lebanese one?

Some kinda game I miss?
Solidarity brotha


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PostPosted: Sun Aug 13, 2006 6:00 pm
 


Intrawest is a publicly traded company that major stockholders felt was undervalued as it traded in the exchanges. They felt that investors didn't understand the real estate business and they could get more money by selling controlling interest in a large chunk.

American probably owned a lot of Intrawest in the first place. A $1.7 billion hedge fund firm, Pirate Capital LLC owned about 18% and forced the sale.

I own a piece of a Whistler Intrawest timeshare and was told that they didn't sell to Canadians, only to Americans. Hmmmm. Not sure, but I think they were prohibited by law against selling to Canadians.

But the stock ownership is so high up in global finance it could be anyone in the world that actually owns.

But... buy some Intrawest stock and get it back!

p.s. Pirate thought the stock was worth $45 per share but only got $32. So, there may be some more value there.


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PostPosted: Sun Aug 13, 2006 6:42 pm
 


The only thing we can do is start investing in these companies to save them and in most cases, return them to their rightful ownership. Heck, why not start Canadaka.net Holdings Inc. to start the process rolling. Until ordinary Canadians start making themselves heard, big business and their interests will rule the day and we all know they only care about the money. Money talks, are you being heard?


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PostPosted: Sun Aug 13, 2006 7:03 pm
 


Hear that trev. You have the power!


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PostPosted: Sun Aug 13, 2006 7:20 pm
 


Why?

Intrawest owns and operates resorts in the United States.

Are you saying its fair for Canadians to own American assets but unfair for Americans to own Canadian assets?


Last edited by Toro on Sun Aug 13, 2006 7:23 pm, edited 1 time in total.

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PostPosted: Sun Aug 13, 2006 7:22 pm
 


Scape wrote:


Inco, like virtually every other major Canadian mining company, invests in mines around the world.

Are you saying that it would be fair for foreign governments to not allow Inco to invest in their country?

That's what you are saying if you criticize CVRD for buying Inco.


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PostPosted: Sun Aug 13, 2006 9:41 pm
 


Imagine a Canada with every industry headquartered in another country. At what point do we cease being Canada? There is more going out than what is going in is that not true? An economy that is not ours is a mirage.


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PostPosted: Sun Aug 13, 2006 10:14 pm
 


Canadaka wrote:
Quote:
Intrawest Corp., which operates some of Canada's best-known ski resorts, said Friday it has accepted a $2.8 billion US takeover offer from a major U.S. investment company.


Quote:
Intrawest shares jumped $8.65 to close at $38.44 Canadian on the Toronto Stock Exchange Friday, close to their 52-week high of $41.94.


Quote:
If the takeover is successful, Fortress would gain vacation spots across North America, including the Whistler/Blackcomb ski resort in British Columbia


http://www.cbc.ca/story/business/nation ... t-fri.html

This angers me to no end, we are loosing our contry one company at a time. these shareholders have no national pride, they will sell out for money was to easy.

This particular takeover upsets me because I love whistler, I get a seasons pass every year, it is Canada best ski resort, also best in this hemesphere.

I wish there was a law that any foreign form cannot own more than 49% of an existing Canadian company, I guess thats dreaming.


Bring it up to our conservative government... not much point in patroling the high arctic ( not hi artic) protecting canadian soveriegnty.. when soon there will be none if all these Canadian companies keep getting purchased by off shore interests. We have no laws stopping foriegn nationals from buying up land and houses and driving up housing costs for canadians.. most of these people have no intention of moving here but own commercial and residential properties that they lease out for extra ordinary amounts... because they are an absentee owner they don't care about the condition of thier building.. and if the building sits vacant...
As one foriegn national.... Japanese business man once told me when I was trying to broker a deal. ... I no negotiate down... only up. From $30.00 per sqft.. in the suburbs for industrial/commercial space... "you only negotiate up.... well you know where you can stuff your building then," i seem to remember were the next words out of my mouth... "UP"..
... Try to buy land in Japan.. or own a japanese business.. if you don't have Japanese citizenship.. you cannot own property or commercial enterprise in Japan... damn time we started to do the same thing here... No foreign ownership of more than 49% of companies... foreign nationals unless they intend to make Canada thier new home should not be allowed property rights. After a period of one year if they have not settled here the government should seize thier asset and then put it up for tender.


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