tag:blogger.com,1999:blog-7141615629701321642.post1452705957986287993..comments2024-01-07T08:41:13.864-05:00Comments on C A I T I - O N L I N E: Harper makes Canada a safe haven for unwelcome private equityBrent Fullardhttp://www.blogger.com/profile/08515599756822506137noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-7141615629701321642.post-35199353237322135352008-07-30T09:37:00.000-04:002008-07-30T09:37:00.000-04:00The damage caused by private equity funds' LBOs ha...The damage caused by private equity funds' LBOs has been a source of grave concern in Europe. Former Danish Prime Minster Rasmussen has been leading a campaign in the European Union for controls. Now the British (some of them) are joining the movement. In the aftermath of the LBO of the previously privatised Danish Telecom I believe that the Danes introduced a law regulating the activities of foreign equity funds. The tax leakage resulting from the Telecom LBO (16% of all corporate taxes if I remember correctly) was so large that the Danish authorities were up in arms. A 15% reduction in personnel also raised the ire of Danes. Here in Canada our Humpty Dumpty "leaky" Flaherty sees imaginary tax leakage where there is none and causes and promotes real leakage where there was substantial tax revenue.<BR/><BR/>YFAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-7141615629701321642.post-81845272160921234492008-07-30T05:46:00.000-04:002008-07-30T05:46:00.000-04:00Should it not be the Prime Ministers first priorit...Should it not be the Prime Ministers first priority to protect & allow for the betterment of it`s citizens.<BR/><BR/>Instead in this country , we get the shaft.<BR/><BR/>That shaft comes compliments of the Prime Minister himself---implemented by minions like Jim Flaherty.<BR/><BR/>They are letting private equity run wild at the expense of everyday investors & at the the expense of the tax payer.<BR/><BR/>They seem to have the attitude that selling-off to private equity is a "good Thing".<BR/><BR/>The taxpayer suffers with higher personal taxes to offset those lost as these huge deals take place.<BR/><BR/>The investor loses another investment vehicle.<BR/><BR/>A lose-lose situation brought to you by the man that is supposed to be looking out for your best interests.<BR/><BR/>Sucks to be us!!<BR/><BR/>Dr Mike Popovich.Dr Mikehttps://www.blogger.com/profile/16915911929286615081noreply@blogger.comtag:blogger.com,1999:blog-7141615629701321642.post-51326096600163466552008-07-30T01:17:00.000-04:002008-07-30T01:17:00.000-04:00Another LBO Of A Canadian Income TrustFording Cana...Another LBO Of A Canadian Income Trust<BR/><BR/>Fording Canadian Coal Trust To Be Bought By Teck Cominco<BR/><BR/>Brenda Bouw, THE CANADIAN PRESS<BR/>July 29, 2008 (EDIT)<BR/><BR/>VANCOUVER - Teck Cominco Ltd. pulled the trigger on a deal to buy the assets of Fording Canadian Coal Trust for about US$14 billion. <BR/><BR/>Tuesday's bid is for US$12.4 billion in cash and shares worth about C$1.5 billion. <BR/><BR/>Don Lindsay, president and CEO of Teck Cominco said the structure of the deal is key because of the tax advantages, and the fact the company already owns 20 per cent of Fording. <BR/><BR/>Teck expects to reap more than US$3 billion in tax benefits from the transaction based on established rules covering the acquisition of Canadian resource properties. It will fund the cash portion largely from a US$9.8-billion loan facility it has arranged with a syndicate of banks. <BR/><BR/>The deal follows what Fording described as an extensive review of strategic alternatives, particularly in light of the need to address our income trust structure before 2011.Anonymousnoreply@blogger.com