At the top of all company earnings-results conference calls, the emcee will remind investors that the discussion is likely to include predictions about the future of the business and that they shouldn’t assume anything will happen for certain.
Stephen Harper is a skilled driver with a subpar car. He had to overcome a rocky beginning to his leadership tenure. He also faced resistance from his own ranks. And he’s climbed all the way to the top of a strong minority government…
The Liberals have a chance to topple Prime Minister Stephen Harper Thursday, though more by procedural curiosity than any matter of substance. The Canadian parliamentary system includes what’s called an “allotted day,” during which an opposition party–this week, the Liberal Party–is able to call for a vote on any issue, such as no confidence in [...]
Canadian Finance Minister Jim Flaherty bobbed, weaved and feinted his way from the Halloween trust tax announcement all the way through his testimony before a special hearing of the House of Commons Finance Committee. Aided and abetted by a pliant national press, the income trust tax story became one of “corporations paying their fair share” and “leveling the playing field” and other such amorphous, easily digestible memes.
A vast network of ancient trade routes, the Silk Road connected Asia with the West. From the Chinese metropolis of Xian to the shores of the Indian Ocean and the Mediterranean Sea, goods and ideas traveled on this road, enhancing the lives of millions of people.
The House of Commons Standing Committee on Finance has released a report, “Taxing Income Trusts: Reconcilable or Irreconcilable Differences,” in the wake of special hearings called to review the evidence for Jim Flaherty’s proposal to tax distributions to shareholders at rates comparable to corporate rates.
Henry Kravis is going to judge the deal on whether he cashes out–in five years, give or take–at a hefty premium and whether there’s significant global progress on fighting carbon emissions or not. To the legendary orchestrator of leveraged buyouts, it’s still about making money.
The Liberals have put an offer on the table, a counterproposal that’s as much a policy alternative as it is a price tag on restoring investor confidence. Though it basically reflects the numbers thrown about in the fall of 2005–numbers that then shook the sector to its core–the Liberal alternative now represents sweet relief.
Some will reconvert, some will be acquired, some will go private, and some will continue to operate their businesses.
Prime Minister Stephen Harper’s income trust move is starting to look a lot like President Bush’s aborted proposal to overhaul Social Security.
