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GenX
04-08-2008, 06:13 PM
The timing was embarrassing. March 11 Jim Prentice, Canada's industry minister, went to Cape Canaveral to boast of his country's prowess in the space industry.

He watched the launch of a space shuttle carrying robotic fingers for the retractable arm attached to the International Space Station, just as the shareholders of MacDonald, Dettwiler and Associates (MDA), the Canadian firm that designs and builds the fingers, the arm and some highly sophisticated satellites, voted to sell those businesses to Alliant Techsystems, a defense company based in Edina.

The news has prompted much hand-wringing. That's partly because of the nature of the firm's business: Its iconic Canadarm has been used by the shuttle since 1981, and some Canadians worry that foreign ownership of its satellites, which keep an eye on the Arctic and the coasts and were developed partly with public subsidy, would threaten national security.

More broadly, the sale plays on a growing fear that Canadian industry is being hollowed out and that many emblematic firms are being sold to foreigners.

Such fears are hardly unique to Canada. But Canadians perennially fear becoming a branch office for their mighty neighbor to the south. In fact, a string of recent takeovers has mainly featured investors from farther afield.

Two mining giants, Falconbridge and Inco, were bought respectively by Xstrata, a Swiss firm, and Brazil's Vale, each for close to $20 billion. Rio Tinto, an Anglo-Australian firm, took over Alcan, an aluminum producer, for twice that figure. Saudi investors joined with Americans to snap up Four Seasons and Fairmont, two posh hotel chains.

LINK (http://www.startribune.com/business/17363674.html)

Hans
04-09-2008, 04:36 PM
As your article states, they are investments. In case you have not been outside lately, the world is leaning towards a global market. In order to be ready for a true global market, companies are snapping up reliable and viable (healthy) companies in local markets like the US, Canada and Europe, to bring them under 1 umbrella.
Not only does this save money on various aspects of running a global company, it also allows them unlimited access to sell on these local markets. It also gives them access to well trained people and their knowledge (resources), so they can improve the overall competitiveness of the group.

Huggy85
04-09-2008, 06:01 PM
And just so Speedy doesn't try to imply that American Industry isn't being sold off to foreigners - and at fire sale prices do to the weak Greenback........

http://www.iht.com/articles/2008/01/20/business/20invest.php

For much of the world, the United States is now on sale at discount prices. With credit tight, unemployment growing and worries mounting about a potential recession, American business and government leaders are courting foreign money to keep the economy growing. Foreign investors are buying aggressively, taking advantage of American duress and a weak dollar to snap up what many see as bargains, while making inroads to the world's largest market.

"Last year, foreign investors poured a record $414 billion into securing stakes in American companies, factories and other properties through private deals and purchases of publicly traded stock, according to Thomson Financial, a research firm. That was up 90 percent from the previous year and more than double the average for the last decade. It amounted to more than one-fourth of all announced deals for the year, Thomson said."

GenX
04-10-2008, 05:24 PM
Now even that favorite Canadian cry of "We invented the Shuttle arm!" is but a distant memory...

Poor, poor mediocre country.

Huggy85
04-10-2008, 05:41 PM
<div class="ubbcode-block"><div class="ubbcode-header">Originally Posted By: R W G R</div><div class="ubbcode-body">Now even that favorite Canadian cry of "We invented the Shuttle arm!" is but a distant memory...

Poor, poor mediocre country. </div></div>

Sorry bud.....you are very wrong. Not the news hound you think you are I guess.

http://www.iht.com/articles/ap/2008/04/10/business/NA-FIN-Canada-Canadarm-Sale.php

"Canada shoots down bid by US arms maker for division of nation's biggest space tec firm"

Poor, poor, mediocre and ignorant Speedy

GenX
04-10-2008, 05:49 PM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Industry Minister Jim Prentice confirmed Thursday that Minnesota-based Alliant Techsystems Inc. was notified that its bid for the space division at MacDonald, Dettwiler and Associates Ltd. was unsatisfactory. </div></div>

In business language, all that means is they want the offer sweetened before finalizing the sale.

It wasn't rejected out of any altruistic notion, or sudden onset of patriotism; it was rejected, for now, to try and get more money.

The deal will go through, of that there is no dioubt.

In Canada, it's all about greed and money. That's why you guys need to create that artificial Canada you try to portray to the rest of the world. Problem is, no one buys it.

You're a sick society full of greed and individualism.

Huggy85
04-10-2008, 05:52 PM
The deal is dead, Speedy, get over it.

http://www.upi.com/NewsTrack/Business/2008/04/10/canada_nixes_mda_space_firm_sale_to_us/3782/

"Industry Minister Jim Prentice notified Alliant Tuesday the deal had been nixed in the best interests of Canada, sources told the newspaper."

GenX
04-10-2008, 05:57 PM
"unsatisfactory" doesn't mean dead, it means it has the chance to be made satisfactory, which in Canadian terms means more money, and screw country pride and the small guy.

Huggy85
04-10-2008, 06:01 PM
"Nixed in the best interests of Canada" has nothing to do with unsatisfactory offers

Nixed means dead