Thursday, April 10, 2008

Phew!

Jim Prentice has blocked the takeover of Macdonald-Dettwiler by Alliant Techsystems Inc.

While I am mostly a free market kind of guy, I'm glad that common sense has prevailed, and not placed Radarsat-2, the world's most advanced radar imaging satellite, into American control.

Congratulations Mister Prentice. While the opposition parties are asking for protection of Canadian aerospace industries this is not what is really needed. Protectionism simply breeds weak, inefficient companies. However there are instances where national security issues should block foreign takeovers of Canadian companies.

Mr. Prentice, can I recommend that you develop some clear guidelines for your ministry and your predecessors on how you determine what is of "net benefit" to Canada, and what national security issues should block the sale of Canadian companies? Business needs certainty.

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