Word: canadianization
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Dates: during 1980-1989
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...figures show that Canada's direct investment in the U.S. surged from $11.4 billion in 1983 to $16.7 billion in 1985. That total places Canada fourth among foreign investors in the U.S., behind Britain, the Netherlands and Japan. The current value of American companies and other assets in which Canadians hold at least a 10% stake is even more impressive: $105.6 billion. Toronto's Reichmann brothers, for example, now own 8% of all the office space in Manhattan. Last March a subsidiary of Vancouver-based B.C.E. Development bought $1 billion worth of real estate in five U.S. cities, including...
...Canadians put money into the U.S. for many of the same reasons that other foreign investors are drawn to the dynamic $4 trillion American economy: high return on capital, low taxes and skilled labor. What is more, the targets in America are tantalizingly close across the 5,526-mile border. Although Canada is larger than the U.S., its economy is smaller than California's, and its population, at 25 million, is roughly the size of the Golden State's. Furthermore, 24% of the relatively small pool of Canadian assets is already owned by foreign investors. Americans alone...
Partly because Canada does not have many statutes limiting the concentration of capital, much of its wealth is held by a few fabulously rich families. While most Canadian tycoons are neither required by law nor inclined by nature to disclose the details of their holdings, a new book titled Controlling Interest: Who Owns Canada? by Toronto Star Financial Writer Diane Francis < asserts that just 32 families own more than one-third of the country's nonfinancial assets. Many of those families have built up sizable stakes...
...said that Campeau owns the skyline. He made his first real estate investment in 1942 as a 19-year-old machinist. Campeau built a house, sold it for a 50% profit and started another. Within ten years he was building apartments and office towers, and now owns Canadian real estate worth $1 billion. Allied rejected his first offer of $58 a share last August, when the stock was trading at 48. But Campeau eventually won Allied's consent with an offer of $69 a share, helped by a $1.8 billion loan from First Boston. Said Allied Chairman Thomas Macioce last...
...Seagram's purchase of 22.5% of the outstanding shares of Du Pont, the huge oil-and-chemicals company (1985 sales: $29.5 billion). Seagram now owns more of that firm's stock than the Du Pont family does. Says Bronfman: "It's the size of the U.S. market that lures Canadian investors here...