Whistler Sold

Posted by Sean
Filed in City
August 12, 2006

Vancouver-based Intrawest has been sold to a group of American investors for $2.8 billion. While this may seem like business ass usual, I find it part of a larger trend towards the wholesale buyout of Canadian assets. Hotel Vancouver, Chateau Lake Loise, and The Empress in Victoria were all part of a deal that saw Fairmont sold to Saudi and US investors. Before that it was The Hudson's Bay Company and Eatons going south. Then there was Molson, ironically the makers of Canadian, bought by Coors. And perhaps the most contentious deal of all was the Kinder Morgan takeover of Teresen Gas.

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can't forget tim horton's!

Posted by: kevin bracken at August 12, 2006 11:43 PM | Quote Comment

I'd love to say "good riddance", because Whistler's turned into such a hole, but it's just so disheartening to think about what a beautiful place it used to be. I can't even imagine how it must feel for the locals who have had to watch the life and soul of their hometown get torn to shreds by rabid dogs and then left to soak in a mixture of raw sewage and week-old chicken's blood in a pastel pink vat. Hurray for money. Kind of makes you wonder where it's going to end, huh?

Posted by: Jeff

at August 12, 2006 11:43 PM | Quote Comment

Greed is the bottom line. It's not just whistler. It's fairmont as well. I think it's crap. Should remain canadian. It's only a matter of time before we become american citizens

Posted by: photog74 at August 13, 2006 12:17 PM | Quote Comment

Sleeman's has a bid from Japan's Sapporo Breweries and then there's the entire Bell GlobeMedia CHUM takeover and bid for Hockey Night in Canada - although not American, these all demonstrate the kind of economy in which we're now living.

Posted by: miss604 at August 13, 2006 7:43 PM | Quote Comment

It's all well and good to say it "should" remain Canadian...but are *you* going to front the money for the purchase? It's a ridiculous statement to say that. Yes, it sucks,and I can see saying that it sucks, or that you *wish* it would remain Canadian.

Canadian companies are also busy buying up other nation's businesses constantly, we just don't hear about it as much. Should Canadian businesses be forbidden from doing that because those purchases "should" remain owned by the originating country?

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