[Newsbot]

Title: China bids $2.2B for Canadian oil company
Category: Business
Posted By: Hyack
Date: 2011-10-10 22:49:40
Canadian

[stokes]

So we will sell our companies to another government, just so the share holders can make a profit of 100% from where the stock is trading now. We should tell them no for national security reasons.

[Goober_McGee]

Ugh, stop selling our shit to the fucking Chinese.

[jeff744]

Goober_McGee Goober_McGee:

Ugh, stop selling our shit to the fucking Chinese.

Why? If they are willing to pay then it is just capitalism in action. I find it funny how socialist policies get mocked but when a nation people don't like decides to follow the rules of capitalism to buy a company suddenly they want government intervention.

As long as the company retains (or improves) its work quality and follows the laws of Canada I have no problem with the new owners. Be nice if it was owned by a Canadian company or if the gov bought it as a company that only sells locally to drop gas prices a bit but we could do far worse than China.

[martin14]

stokes stokes:

So we will sell our companies to another government, just so the share holders can make a profit of 100% from where the stock is trading now. We should tell them no for national security reasons.

Yup, even in spite of jeff trying to take everything to an extreme.

[stokes]

My point is that the company is not being sold to a group of investors but to another nation, am I the only one who thinks there is a problem with this? I remember 15 years ago when we bitched because we were selling out to the US, we need to control our own destiny.

[bootlegga]

Foreign investment has always driven the Canadian economy. In the beginning, the British helped to pay for our railroads, after WW1, the Americans built our manufacturing, and now the Chinese want access to our energy.

I don't like state-owned entities buying Canadian corporations, but that's a fact of life in China.

[jeff744]

stokes stokes:

My point is that the company is not being sold to a group of investors but to another nation, am I the only one who thinks there is a problem with this? I remember 15 years ago when we bitched because we were selling out to the US, we need to control our own destiny.

By that logic we should not be allowed to buy foreign companies either.

[dino_bobba_renno]

stokes stokes:

My point is that the company is not being sold to a group of investors but to another nation, am I the only one who thinks there is a problem with this? I remember 15 years ago when we bitched because we were selling out to the US, we need to control our own destiny.

It's been going on for years, for example Stat Oil bought NAOSC. I think it's just the fact that it's Sinopec that really gets under peoples skin.