[Canada] Canadian Politics Redux

[crazy canuck]

She changed the anthem, which I don't like reflexively, but whatever. 

Her real sin was doing just a terrible job of singing it.  'O Canada' does not lend itself to the kind of diva ornamentation that she was attempting.  You can turn the 'Star Spangled Banner' into a monument for your ego all you want, but the Canadian anthem just doesn't sound good when you play with it that way. 

Strong disagreement.  Our anthem sounds great when played with a flourish.

[Sheilbh]

You can turn the 'Star Spangled Banner' into a monument for your ego all you want, but the Canadian anthem just doesn't sound good when you play with it that way. 

You can but maybe more singers should ask themselves if they should - and indeed if they can?

[Josephus]

What's annoying is that Trump is likely to win in a trade war with Canada. never mind that it would hurt the economy in the US as well; his goal is to get manufacturers to move to the US; and Canadian companies are considering that.

Here's an article in the Star, but it's likely behind a paywall.

here

Here are some highlights:





In its recent survey of 250 Canadian firms, almost all of which export to the U.S., accounting firm KPMG found that 48 per cent plan to increase their investments in the U.S. to retain access to the American market and reduce tariff-related costs.

ome CEOs will be tempted to go further, relocating their head offices to the U.S.

They would be following the example of Brookfield Asset Management (BAM), which has about $1.4 trillion in assets under management. BAM moved its headquarters to New York from Toronto last year.

On Wednesday, Montreal-based TFI International, Canada's biggest trucking company, said it intends to reincorporate the $11.9-billion firm in the U.S., where it does about 70 per cent of its business.

Mullen Group of Okotoks, Alta., a $1.9-billion rival to TFI, has flirted with a similar move this month.

So, who else might defect? Here are a few candidates.

Shopify, the Ottawa-based flagship Canadian tech firm that serves the burgeoning e-commerce sector, derives about two-thirds of its $9.5 billion in revenue from the U.S., and just six per cent from Canadian customers. Tobi Lütke, Shopify's founder and CEO, has said a Canadian lack of ambition makes recruiting here tough.

Toronto-based Constellation Software, a conglomerate that owns hundreds of specialized software makers, derives almost half of its $11.3 billion in revenues from the U.S. Canada accounts for just 10 per cent.

Convenience-store giant Alimentation Couche-Tard, based in Laval, Que., derives its $93.5 billion in total revenues from 7,100 Circle K stores in the U.S. and only 2,100 in Canada. Vancouver-based Lululemon Athletica does about 65 per cent of its $9.6 billion (U.S.) "athleisure" business in the U.S., and only 13 per cent in Canada.

Onex, the Toronto-based asset manager that owns WestJet Airlines, generates about half its revenues from its U.S. assets, and only 21 per cent from its Canadian holdings. The leading Montreal engineering firm WSP Global generates about 80 per cent of its revenue outside of Canada. Only 18 per cent of its total workforce of 66,500 people is located in Canada.

Magna International, the Aurora, Ont.-based auto parts firm, relies on Canada for just 10 per cent of its $57.8 billion in revenues. The U.S., home to two of Magna's largest customers, GM and Ford, accounts for 22 per cent of total sales. The balance comes from the 26 other countries where Magna has facilities.

[Jacob]

Yeah... it's not ideal

[Grey Fox]

Couche Tard founder, Alain Bouchard, is a Quebec nationalist. The # of Canadian vs International stores don't matter. They are ALL international.

[viper37]

One of Quebec's biggest transport company, TFI International had announced its plans to move their HQ to the US.

Technically, all operations would remain in Quebec, but the HQ would have been located in the US, likely in Florida, with its low corporate tax rate.

Thing is, the company didn't notify its shareholders of the move.  Namely, it's 5th biggest shareholder is the Caisse de Dépôt et de Placement du Québec (CDPQ).  They learn of the move by reading the newspaper, like the other shareholders.

That move didn't sit really well with them and some of the others.

So the move has been cancelled today.     They'll be staying in Quebec "due to shareholder pressure".  I can guess which one.

[crazy canuck]

Except the polling also shows that if Carney is the leader, its a dead heat between the Conservatives and Liberals, with Carney polling personally ahead of Poilievre.

Good to know

In a dramatic turn of fortunes the Liberals are now polling ahead of the Conservatives.

Largest turnaround in Canadian history says the reports I am reading.

Copying Trumpist rhetoric turned out to be unpopular for the Conservatives.  Who would have guessed eh BB?

[crazy canuck]

What a joke the Americans have become.  The "threat" of tariffs moved back another month.

Meanwhile the damage is done, everyone is finding ways to do without them.  For some industries, like oil and gas, it will take longer.  But almost certainly the pipeline East project will now go ahead, and once a new Liberal leader is elected the Western Pipelines will be back on the table.

Trump has been very good for Canadian oil and gas.  In time we won't be tied to the discounts we were obliged to give to the Americans.

[crazy canuck]

The President of the independent grocers association of Canada was just interviewed on a local radio station.  He said that in his 20 years in the biz he has never seen such a demand for Canadian made food products.  One thing he cautioned though is that there is a lot of products being made here by American companies, so he asked that consumers keep that in  mind when selecting products.  He suggested buying "Product of Canada" or "Made in Canada" products, rather than just selecting products made by Canadian companies.

I am not sure I agree with him.  If Canadian companies capture the Canadian market, they will hire more Canadians, including the higher paid executive and management salaries. So it should be a wash (at least) if the American owned enterprises decided to leave for lack of demand of their products.  And we then keep that corporate tax money as an added bonus.

[viper37]

Largest turnaround in Canadian history says the reports I am reading.

Trudeau's comeback from 3rd position in his 1st election was impressive.  But doesn't really count as a turnaround.

We could have had another Harper mandate, then transitioned to someone less lunatic. <sigh>.

[Grey Fox]

Not sure.

The plants are in Canada with Canadian employees, using Canada based products to make our foods.

Ultimately, Lays chips are owned by Pepsi but for Quebec's market they are made local in Levis using local potatoes from L'île d'Orléans. Boycotting those will achieve only a short lived phyric victory.

[crazy canuck]

Not sure.

The plants are in Canada with Canadian employees, using Canada based products to make our foods.

Ultimately, Lays chips are owned by Pepsi but for Quebec's market they are made local in Levis using local potatoes from L'île d'Orléans. Boycotting those will achieve only a short lived phyric victory.

Lays was an example he used.  And the main point he was making is that all the patatoes are sourced and processed in local markets.  But if those same potatoes are bought be Canadian companies who take over that processing because demand has shifted to Canadian products, then the profits no longer get sent South.  The management of the companies reside here. The taxes on that employment gets paid here.

If all this results in a boom in the Canadian Manufacturing and Processing sectors, along with the dismantling of Provincial trade barriers, I say lets give Trump a medal. 

[Grey Fox]

I have no faith in short lived Canadian entrepreneurs, they are always too quick to sellout and invest in RE instead.

The federal government really should stop more of these transactions.

[crazy canuck]

I have no faith in short lived Canadian entrepreneurs, they are always too quick to sellout and invest in RE instead.

The federal government really should stop more of these transactions.

Yeah, that is fair, we need a significant shift in all things, government spending priorities, tax policy, internal trade barriers, investment - but I can dream   

[Grey Fox]

You can. I dream of independence often.