| Hudson's Bay is sold
Posted: 7/16/2008 9:03:12 PM | Husdson's Bay, the oldest Canadian Department Stores is now owned by U.S. Retailer, Lord & Taylor. Actually the deal is done 2 years ago, it was hidden behind the Canadian Flag all this time. So another piece of Heritage of Canada is gone, so easily and willingly.
Do I have a reason to be sad? What is not for sale in Canada? If we don't sell something to U.S. we sell them to Japan, oh yup, we can sell to China too. Down another 50 years, what's left for Canada?
To tell you the truth, the thought that Canada may end up owned nothing of its own, make me want to cry. | |
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| Hudson's Bay is sold
Posted: 7/16/2008 9:22:06 PM |
Down another 50 years, what's left for Canada?
Well..... You can at least take comfort in knowing that the rest of the world will leave us with our hockey, beer, Tim Hortons, touques, tobaggans, and moose droppings.
Oh, and don't forget they'll also leave us with our passively submissive government. Nobody wants to buy a bunch of boys who spend their political careers bent over their desks, pants around their ankles......
Proud to be a Canuck !
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| Hudson's Bay is sold
Posted: 7/16/2008 9:25:49 PM | | the hudsons bay company was basically the original trading post company in canadian history ? Two years so far really ? and noone knew about this ? | |
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| Hudson's Bay is sold
Posted: 7/16/2008 9:32:11 PM | HBC, which has a 338-year history that contributed to the exploration and development of large parts of Canada, has been under American ownership since 2006, when it was bought for $1.1 billion by entrepreneur Jerry Zucker.
Since Zucker’s death in April, there had been speculation that HBC would be sold.
The original sale to Zucker was in all the papers across Canada when the sale was approved. Before his death, Zucker was implementing changes to the Zellers arm of HBC. | |
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| Hudson's Bay is sold
Posted: 7/16/2008 10:02:06 PM | ^^^thank you for that information Chassis.
I don't shop at Wal-Mart and was always proud that I could shop at Zellers instead; I thought Zellers was still a Canadian Department Store and it is my great wish to support Canada business. So where I can shop now? Canada Sears? | |
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| Hudson's Bay is sold
Posted: 7/16/2008 10:13:54 PM | I do feel your pain. I feel that way about a lot of American businesses, the latest, Budweiser. It seems as tho this is a big trend with North America. I think the free trade agreement is paving the way for companies to be "owned" by any and every country to futher the globalization of the world wide bankers.
I feel for your loss and and sad that something we feel represents "our" countries seems to be slipping away with each passing day. | |
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| Hudson's Bay is sold
Posted: 7/16/2008 10:19:34 PM | Shop the local small business 'mom & pop' stores. They're everywhere.
Service is a thousand times better and more personal, no circling the parking lot trying to find a spot, no standing in 1/2 hour long lineups, and to top it all off..... they sincerely appreciate your business because you help to feed/clothe an honest hard working little family struggling to keep afloat.
I've been doing so for years. I hate these 'mega-monster-stores' with a passion. | |
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| Hudson's Bay is sold
Posted: 7/16/2008 10:57:06 PM |
You can at least take comfort in knowing that the rest of the world will leave us with our hockey, beer, Tim Hortons, touques, tobaggans, and moose droppings.
The NHL is mostly American. Tim Horton's was bought by Wendy's some time ago. Toques, toboggans and moose droppings are made in China.
Sigh. | |
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~Rox~
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Joined: 1/2/2008
Msg: 9 | |
| Hudson's Bay is sold
Posted: 7/17/2008 3:14:06 AM | Sears is also an American company.
from the news...
TORONTO (Reuters) — Hudson's Bay Co., the privately held Canadian department-store operator, was bought by NRDC Equity Partners for an undisclosed amount, the companies said Wednesday, as NRDC, owner of upscale U.S retailer Lord & Taylor, moves into Canada.
NRDC will invest $500 million in new equity into the combined company, which also owns retailers Fortunoff and Creative Design Studios.
Founded in 1670, Hudson's Bay is deeply entrenched in Canadian history, and is North America's oldest continually operating company. Its banners include The Bay, Zellers and Home Outfitters.
Richard Baker, NRDC's current chief executive, will serve as the head of the new holding company called Hudson's Bay Trading Co.
Combined with Hudson's Bay Co, the company will generate more than $8 billion in retail sales and employ 75,000 employees, NRDC said.
The HBC franchise was sold to U.S. investor Jerry Zucker for $1 billion Canadian about two years ago. When Zucker died earlier this year, his wife took control of the business.
NRDC has been a minority owner in HBC in partnership with the Zucker family, and Baker has been a member of the board since 2006.
"By acquiring Hudson's Bay Company, along with previous acquisitions Lord & Taylor and Fortunoff, we will have an unprecedented opportunity to recreate the retail landscape in North America," said Baker.
Copyright 2008 Reuters Limited | |
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| Hudson's Bay is sold
Posted: 7/17/2008 4:27:06 AM | { QUOTE"China confuses Canada
Noranda bid prompts federal legislators to press for updated foreign investment rules as China embarks on aggressive global shopping spree for resource assets
Gary Park
Petroleum News Calgary Correspondent
There has not been a fuss quite like it since the turn of the century when a C$50 billion wave of takeovers pushed U.S. control of Canadian oil and gas production close to 60 percent and never such a clamor for updated foreign investment limits since 1977 when foreign ownership of production stood at 74 percent.
Although the debate is currently being driven by a pending C$7 billion takeover of mining giant Noranda by metals trader China Minmetals, the petroleum industry is waiting off stage to see what happens next.
After decades of blocking Chinese companies from spending money overseas, the Beijing government is pushing them to invest abroad to round up natural resource assets.
By the end of 2003, Chinese companies had invested US$33 billion in 7,470 companies in more than 160 countries, including US$6 billion in 58 overseas oil and gas projects.
That is far short of the US$60 billion of foreign investment in China, but the gap could rapidly be closed as Beijing openly urges its state-owned enterprises to “go global.”
Bob Broadfoot, a Hong Kong-based consultant, told The Associated Press that China has the “ability to argue with foreign companies that ‘if you want access to our market, you will have to sell us a stake in your company.’”
Noranda would be largest purchase to date
The Noranda purchase would be China’s largest foreign acquisition to date and represents the first time any state-owned Chinese enterprise has made a bid for a Canadian company.
The result has been confusion and uncertainty within Canadian government ranks.
Prime Minister Paul Martin has welcomed the move by Minmetals, but Industry Minister David Emerson has confessed to some unease about allowing such deals, given China’s human rights record.
“Fundamentally, I think it is a good thing. We’re investing heavily in China and I think it’s a sign of China’s increasing growth and maturity,” Martin said, while adding Canada will not step around human rights issues.
Emerson said that having a state enterprise own Canadian resources is different from private ownership, indicating that Canada could attach conditions to any deal, including export controls.
“I don’t think that you should assume that somehow it’s a wholesale sale of the Canadian resource case,” he said. “It would not be that.”
But he said Canada can’t “complain endlessly about being too dependent on the United States” and then take steps to jeopardize its relationships with China, its second largest trading partner.
Bilateral trade with China hit a record C$23 billion in 2003, up 16 percent from 2002 and Chinese foreign direct investment in Canada climbed to C$422 million in 2003.
Members concerned investment act inadequate
Members of Parliament from all four parties represented in the House of Commons expressed concern Oct. 26 that the 19-year-old Investment Canada Act is outdated or inadequate.
The act currently calls for government reviews of direct acquisitions worth more than C$237 million by member countries of the World Trade Organization.
Andy Savoy and Denis Coderre, both from the governing Liberal party, agreed there is a need for change in a time of globalization, especially with China sending out signals it is ready to go on a shopping spree for resources.
Brian Masse, an MP from the left-wing New Democratic Party, said the issue was far larger than the Minmetals-Noranda deal.
“The stakes are higher than people understand,” he said, suggesting that if foreign ownership legislation was amended and the deal was turned down it could harm Canada’s relationships with China and its growing trade.
“This is a very hungry dragon and its demand for copper and nickel and oil have long outpaced domestic supply,” said Howard Balloch, a former Canadian ambassador to China. “Domestic supply will never again satisfy its hydrocarbon or base metal needs.”
Matthew Simmons, a Houston-based economist, said China’s need for “reliable energy in massive supply is profound.”
China’s Foreign Minister Li Zhaoxing has left no doubt that companies from the Chinese government’s vast stable of state-owned enterprises are poised to make many resource takeover bids as the country gains influence.
Greatest stirrings in oil patch
Although the Minmetals-Noranda transaction has captured the spotlight, the greatest stirrings are taking place in the oil patch.
Sinopec, China Petroleum Corp., is conferring with Beijing about buying into Alberta’s oil sands and PetroChina has talked with officials of the Canadian Oil Sands Trust, which owns 35.49 percent of the Syncrude Canada oil sands operation.
Alberta Premier Ralph Klein said Sinopec officials have held discussions with key oil sands players — Syncrude, Suncor Energy, Shell Canada, Husky Energy and Canadian Natural Resources — as well as Alberta’s Energy Department.
He said Sinopec officials are talking with their government about the prospect of a direct investment in the oil sands.
Meanwhile, a PetroChina delegation met with oil sands trust executives in the late summer, said trust President and Chief Executive Officer Marcel Coutu.
He said the focus was on the possibility of a long-term agreement to ship production from the oil sands to China, rather than PetroChina taking a stake in the trust.
Coutu said the “ball’s in their court,” as they evaluate whether Chinese refineries could process synthetic crude.
He said it is possible rather than likely that the Chinese will either reach a supply agreement or acquire outright ownership of part of Syncrude.
“Their interest in supply is serious,” Coutu said. “I don’t think there’s any doubt about that.”
Pipeline to British Columbia needed
For now the greatest barrier is the absence of a pipeline to carry production from Alberta to a port on the British Columbia coast, but a solution sits at the top of Enbridge’s priority list as it contemplates a 400,000 barrel-per-day pipeline before the end of the decade.
Enbridge has also been in discussions that could see Sinopec either buy production or invest in the pipeline.
On the sidelines, there is fresh speculation that Sinopec is interested in staging a takeover of Husky Energy, which has substantial plans for the oil sands that could see it pumping 235,000 bpd from two projects by 2010-2014.
Currently Hong Kong billionaire Li Ka-shing and his family control 72 percent of Husky, through the Hutchison Whampoa conglomerate and individually.
Li has already stood on the brink of a sale in early 2002, when Husky confirmed it was in talks with PetroChina, but prospects of a deal crumbled when Chinese officials disclosed they were offering US$4.4 billion and immediately drove up the value of Husky shares.
Subscribe to Petroleum News
" END OF QUOTE}
This is a dated article concerning China , buying up Canadian Resources. Found it interesting as it shows the back drop to what occurred in the Liberal years , and how support was given regardless of Chinas human rights issues.
Notice that David Emerson, back then, showed he was out of step with the Martin / Liberal government. Not that surprising that he switched to the Conservatives shortly after the election.
America buying Canadian Companies? Not a big problem when you look at attempts made by Chinese companies that want to buy all our resources. After all , Canadian and American economies are so intertwined as it is, it would be impossible to separate the 2.
What you need to be cautious about is China. they do not play by the same rules as American and Canadian Companies. They completely ignore all and every intellectual rights agreement. Steal, copy, with impunity.
While this frenzy of buying our resources has cooled down some what since Stephan Harper has brought up Human Rights in China as being more important than grabbing a quick buck by selling Canada , it could very well start again.
The one thing Chretien / Dion have in common, is there is not a dictator any where in the World that they will not be friend , offer Canada to them with a hug and a kiss. American buying the Bay, is sad, but lets face this fact. American and Canadian companies / busness , is all one in all practicality, as it is right now. Having the Chinese own our raw resources will cause implications for centuries to come. .
If you insist on voting Liberal next election, make it clear to Dion, that trade with China, is an issue. | |
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| Hudson's Bay is sold
Posted: 7/17/2008 4:30:59 AM | MAY BE Canada will Merge With the USA someday ,eh hoser??
" Coo roo coo coo, coo coo coo"
Budweiser No Longer an American-owned Company
Posted: July 14, 2008 06:53 PM
Budweiser No Longer an American-owned Company
A company that has been American-owned for 150 years has been bought-out by a foreign company. Anheuser-Busch agreed to be purchased by a Belgium-Brazilian company known as Inbev.
Inbev purchased the company for 52 billion dollars.
Anheuser-Busch owned the Budweiser plants in Idaho, while Idaho farmers produce much of Budweiser's malt barley. No one from the plants would comment on the sale, though a representative from the corporate headquarters said there are no immediate plans to change any existing contracts with Idaho farmers....
Their are way too many Foreign Country s buying up AMERICA---IS AMERICA really America any more?
Do i need a hair cut
♫♫♫ My country,' tis of thee,
sweet land of liberty, of thee I sing;
land where my fathers died,
land of the pilgrims' pride,
from every mountainside let freedom ring!
My native country, thee,
land of the noble free, thy name I love;
I love thy rocks and rills,
thy woods and templed hills;
my heart with rapture thrills, like that above.
. Let music swell the breeze,
and ring from all the trees sweet freedom's song;
let mortal tongues awake;
let all that breathe partake;
let rocks their silence break, the sound prolong.
. Our fathers' God, to thee,
author of liberty, to thee we sing;
long may our land be bright
with freedom's holy light;
protect us by thy might, great God, our King. ♫♫♫
Snake
 do i need a hair cut?? | |
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JLT88
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Joined: 7/8/2008
Msg: 12 | |
| Hudson's Bay is sold
Posted: 7/17/2008 5:10:23 AM | Canadian companies and pension funds have been buying up US assets as well. It's not all in one direction. BankNorth, for example, is now owned by Toronto-based TD Canada Trust. Canada was the fifth largest source of foreign investment in the USA with $197 billion (compared to $241 billion of US investment in Canada) in 2006.
http://geo.international.gc.ca/can-am/washington/trade_and_investment/trade_partnership-en.asp | |
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JLT88
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Joined: 7/8/2008
Msg: 13 | |
| Hudson's Bay is sold
Posted: 7/17/2008 5:21:12 AM |
the hudsons bay company was basically the original trading post company in canadian history ? Two years so far really ? and noone knew about this ?
The HBC is the oldest corporation in North America (given its charter in 1670).
It was no secret that the company was no longer in Canadian hands. Jerry Zucker of North Carolina acquired the company in 2006. He passed away in April 2008 and the parent company of Lord & Taylor is apparently buying his interest.
HBC had to become part of a larger group. Its main competitors were Sears and Wal-Mart (for its stores with the Zellers and The Bay banners). The purchasing power of these American giants was too much for any Canadian firm.
http://www.financialpost.com/story.html?id=643370 | |
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| Hudson's Bay is sold
Posted: 7/17/2008 5:28:38 AM | | Meh.....I'm not going to cry myself to sleep.....lets be honest- that company has been struggling for years. I'd rather have better prices and better service rather than a nationalist pride over an inferior business anyday. | |
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| Hudson's Bay is sold
Posted: 7/17/2008 6:24:22 AM |
I don't shop at Wal-Mart and was always proud that I could shop at Zellers instead; I thought Zellers was still a Canadian Department Store and it is my great wish to support Canada business. So where I can shop now? Canada Sears?
list of Canadian made products
http://www.canadianmade.com/ | |
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| Hudson's Bay is sold
Posted: 7/17/2008 8:25:33 AM | http://www.canadianmade.com/
I did go in to that site, it is not much there. And, it still list The Bay, Zellers, Fields, Home Outfitters as Canadian Department stores, so the information provided is not that reliable.
Oh, Tim Horton is not even us any more, so sad! | |
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| Hudson's Bay is sold
Posted: 7/17/2008 10:26:16 AM | | When I lived in the UK I used to do a bit of side work slaving away at their fur warehouse. Fairly easy work.. except when a buyer wanted to see the skunk pelts.. They even dealt in cat pelts, apprently popular in Germany. | |
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