After blocking a foreign takeover of the country’s largest satellite and space robotics firm, Industry Minister Jim Prentice is refusing to commit federal funds to offset the effect of nixing the sale.
Prentice defended the decision to halt the $1.3 billion sale of MacDonald, Dettwiler and Associates (MDA), saying Canada has no choice but to hang on to its technological know-how if it wishes to have a vibrant aerospace sector and pursue vital policies like the protection of Arctic sovereignty.
“My bottom line is this: Canada must retain jurisdiction and control of technologies that are vital to the future of our industry and the pursuit of our public policy objectives,” he said. “We will not accept the loss of jurisdictional control to another party or another country…”
Critics of the sale have also raised concerns about who would control the imaging data gathered from the satellite, which could find itself subject to strict U.S. security regulations and be kept out of Canadian hands.
Hah! Canadian Homeland Insecurity confronts American Homeland Insecurity.
As a Canadian, this is one of those rare times I approve of my elected Gov’t’s decision.
Canada has a trusted relationship with the US, no need to take over our corporations to prove it.
sorry, canada’s just another casualty from when shrub took a dump on international good will
It’s the first time in 23 years that the Canadian government has blocked a sale. The combination of a technology company heavily subsidized by taxpayers, combined with national security assets makes the sale difficult to execute (for practical and knee jerk reasons).
This isn’t quite as simple as the political pressure that stopped/modified the sale of Unical to CNOOC, or Dubai Ports World’s acquisition of the US port facilities.
I supports Canada’s move to self reliance and protection of its trade secrets.
Beyond hope that Dumbya could buy a clue and retaliate by doing the same for the USA==ie, right thing for the wrong reason. I can’t ever see him doing the right thing for the right reason, but it’s the action that is most important.
A cynic might say this is about keeping the big Canadian federal “Canada” logo on the highly visible “Canadarm” on board the shuttle and space station.
RBG
Well what do you know?!!!
A government that actually looks out for the country’s long term interestes as opposed to those of private corporations.
My congratulations to Canada.
Now if only the USA would . . . . never mind. The corporations own the US and the States’ governments. I wish the citizens would wake the hell up!!!
I also remember about 10 years ago, MacDet not being able to launch a communications satellite because since it would not have the required US surveillance back doors it would be unable to carry any US traffic.
Should you really let a corporation be the forefront of the government’s technology? I mean shouldn’t it be part of the government and not a corporation? At least Canada has the fortitude to say No, this is ours. You keep your dirty money.
#8 dirty money? Harsh words.
Did you mean paid-for-blood money?
We need a smiley that does a military salute.
Canada has space technology?
The sale was blocked more for the fact that MDA built Radarsat with hefty subsidies and funding from the Canadian Government, and this satellite does heavy-duty mapping/surveillance of Arctic regions.
The U.S. government maintains that the arctic regions of Canada are in fact international waters and not subject to the standard territorial waters/economic zone claims. With global warming making the Northwest Passage available for shipping use, it’s in Canada’s interest to be able to keep a close eye on what’s going on up there. Letting the satellite fall under American control will kill off the only economical means of “patrolling” the area.
The sale was blocked more for the fact that MDA built and operates Radarsat with hefty subsidies and funding from the Canadian Government. This satellite does heavy-duty mapping and surveillance of Arctic regions.
The U.S. government maintains that the arctic regions of Canada are in fact international waters and not subject to the standard territorial waters/economic zone claims. With global warming making the Northwest Passage available for shipping use, it’s in Canada’s interest to be able to keep a close eye on what’s going on up there. Letting the satellite fall under American control will kill off the only economical means of “patrolling” the area.
#10
Anytime there is a story about Canada, I always look for the dumbass to make the comment “Canada has (insert subject of story)?!!”.
Love the joke, keeps getting funnier. Here’s one, “America? They have a functioning economy?!!!”….
As Homer Simpson might say, “it’s funny ’cause it’s true”.
Seriously, come see me up in Canada when you need a job.
I worked in Canada…they are very proud of this company. Too proud. Well, there’s still ice hockey.
Oh…forgot to mention that the guy I worked for (chairman) was from Hong Kong (real estate) and owned most of Vancouver and part of Toronto…give it up Canada…it’s a global economy…game over! PENALTY BOX TIME!!!
I just wish that America’s elected officials realized that it’s horrible for America if everything and anything we own can be sold or outsourced for short-term profits amd the long-term hollowing out of our economy.
Bring back protectionism until we restore our manufacturing base.
Why would you need a manufacturing base if everyone else asked for market protection too?
RBG