Word: ottawas
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When Ronald Reagan visited Ottawa last year, the welcome was anything but neighborly. Several hundred Canadians waved placards, symbolically hoisted weathered umbrellas and shouted, "Acid rain, go home!" The President good-naturedly brushed off the demonstration, telling Canadian Prime Minister Pierre Trudeau, "It made me feel right at home." The shouting has momentarily died down, but simmering anger over acid rain continues to pollute relations between the U.S. and Canada...
...maximum penalty for conviction on criminal fraud in Canada is ten years in jail. The four executives have been ordered to appear in court in Ottawa on Nov. 30, but it is not altogether clear they will obey the Canadian authorities. Says DeVos: "Nov. 30 is a day when you decide whether you are going to stand before them or not stand before them. We have made no such decision...
...Ottawa is now trying hard to correct its image. The reason: foreign, and particularly U.S., investment is central to Trudeau's new strategy for reversing Canada's worst economic decline since the Depression. As Trudeau put it in a televised national address, "A difficult winter lies ahead. We face a challenge unlike any our generation has faced. We must keep our markets open to others in order to secure access to their markets. We must meet the competition at home and abroad...
...takeovers and, more recently, to approve new foreign investment in Canada. U.S. businessmen have complained about government arm twisting to extract additional economic concessions in exchange for investment approvals. Lengthy FIRA delays in considering their investment applications have also caused many businessmen to send their money elsewhere. In 1980 Ottawa launched the National Energy Program (NEP), which was designed to increase Canadian oil and natural gas production. In addition, the NEP was charged with raising Canadian ownership of the U.S.-dominated Canadian energy industry to 50% by 1990, up from...
...country. One was to order the shake-up of 18 of 36 Cabinet portfolios. Among those shifted were a number of ministers identified with efforts to "Canadianize" ownership of industry. The Prime Minister had an unusual private chat with 21 top U.S. businessmen who were invited to Ottawa to discuss the local investment climate. The meeting was cordial, and, said First National Bank of Boston Chairman Richard Hill afterward, "we had a good explanation of why we are the way we are. We learned...