This book profiles dozens of Canada's billionaires and is about how Canadian business, the Canadian economy and Canadian entrepreneurs have mastered the challenges of globalization, the North American Free Trade Agreement, the threat of Quebec seceding from Canada, U.S. protectionist threats, recessions and the depression then explosion in commodity prices. "Who Owns Canada Now" analyzes the democratization of ownership in Canada from a country in 1986 owned by a few dozen rich families and conglomerates to hundreds of wealthy Canadian families, gigantic pension or mutual funds and millions of Canadian investors.
The book also looks ahead to challenges such as deindustrialization of Eastern Canada, the dominance of Western Canada headed by Alberta's oil sands and the region's vast resource wealth, the demise of Canada's coddled industries which will be overtaken by foreign competition and the need for significant tax reform such as the elimination of corporation income taxes and the plugging of offshore loopholes enjoyed by some wealthy Canadians.
In 1986, Diane Francis's landmark bestseller Controlling Interest: Who Owns Canada? dominated national lists for a full year with its hard-hitting revelations about the concentration of wealth in Canada. More than 20 years later, Francis returns to take the pulse of Canadian business again--and finds that it's stronger than ever. Although the headlines that have dominated the media for the past two decades might lead us to believe that the concentration of power has only increased, Francis shows that the opposite is true: free trade and tough competition legislation have given financial clout to a broad and powerful cast of leaders offering innovative policies and visions.
Of the 32 influential families profiled in Controlling Interest, fewer than half remain major players; of the five conglomerates originally profiled, only one remains intact. Today's economic drivers are people like Clay Riddell, Gerry Schwartz, the Burnetts, the Hos and the Aspers. Based on extensive interviews and enlivened by Diane Francis's incisive analysis, Who Owns Canada Now is a guidebook to the transformation of wealth and power in Canada. --This text refers to the Paperback edition. About the Author DIANE FRANCIS is synonymous with incisive business reporting and commentary. She is an award-winning editor-at-large and columnist for the National Post; a bestselling author of eight books, including Immigration: The Economic Case and Bre-X: The Inside Story; and a highly regarded broadcasting presence, known for skilfully interpreting the impact of news events on the business community. She recently completed a fellowship with the Shorenstein Center on the Press, Politics and Public Policy at Harvard's Kennedy School of Government and is Media Fellow with the World Economic Forum. She is an adviser to several corporations and sits on many boards. She divides her time between Toronto and New York City. --This text refers to the Paperback edition.