A country’s degradation

By Chris Pedersen

O Canada! Our lost and forlorn land. True foreign owned. Under all the world’s command.


In the last several years, large Canadian businesses such as Fairmont Hotels and Resorts and the Hudson’s Bay Company have been bought out by foreign businesses. Today when you walk around Lake Louise and look back at the beautiful Chateau, you are no longer looking at something Canadian, but Saudi property. Canadian patriots who claim to be individual, unique in the world and with a culture of our own, must admit that these buyouts by foreign companies go a long way to proving that false. It is hard to walk around the emerald lake admiring its Canadian beauty, when in the back of your head you are thinking about the company situated amongst the sand dunes that owns the Chateau and all that goes on around it. Canadians have been lazy and let globalization wash over them and that is horrendous.


The Chateau Lake Louise, first built in 1890, was once owned by Canadian Pacific Hotels, which was a subsidiary of Canadian Pacific Railways. In 1998 CPH bought all the CN Rail hotels, creating the largest hotel company in Canada. The company decided to expand in 1998 when it bought the Princess Hotels, situated in Mexico, Arizona, Bermuda and Barbados. It seemed that finally a Canadian company was invading foreign markets and becoming global. CPH solidified its global influence when the company bought out the American-owned Fairmont Hotels Company, creating the new Fairmont Hotels and Resorts. This was a strong move for Canadian business, as it gave the company control of many hotels in the United States. Things looked good for seven years, with Canada expanding its influence in the North American Hotel market. Then things fell apart in 2006, when Fairmont Hotels and Resorts was bought by Kingdom Hotel Investments, a company in which Saudi Prince Alwaleed bin Talal bin Abdulaziz is the majority shareholder. All the famous Canadian hotels, such as the Banff Springs Hotels, Hotel McDonald in Edmonton, The Empress, Chateau Laurier and Le Chateau Frontenac are no longer pieces of Canada, but Saudi owned.


The same sad story happened to the Hudson’s Bay Company, which has been around since 1670 and was Canada’s oldest company. In 2006 it was bought by American billionaire Jerry Zucker after he presented an offer large enough for the board to consider selling. Now when you put on an HBC Olympic shirt you are supporting American business as well as Canadian Olympians. It is hilarious that at the Winter Games in Turin, Canadian athletes were represented by a foreign power, wearing Hudson’s Bay clothes instead of the still-Canadian-owned Roots clothing (worn by Americans).


Nobody can deny that the global community is becoming closer, but there are some things that should remain under ownership of a country. These historic buildings and companies are important parts of Canadian culture and should be preserved by Canada, not foreign-0wned companies.


Sadly, just because we want to see businesses remain Canadian does not mean it will happen. The economy dictates that the selling of companies is essential for businessmen to continue making a profit, and money, not pride, patriotism or nationalism, talks. HBC was bought out because it was losing market share to other department stores who were selling stuff for cheaper prices. The cheaper prices are important because nowadays Canadians are looking to buy consumer goods for the best price and not because they come from a historic store. It is also important for business to make money so you cannot blame the company completely. Though money and profit are important, companies should stay true to their roots. Business and governments should work together so that Canadian icons can remain in this country’s hands. In a time when there are only a few superpowers in the world, Canadians must defend every little thing that defines us.


That said, it is time we as Canadians started having some pride for icons that represent our country. We cannot allow Canada to be slowly bought out by foreign powers. It is the fault of all Canadians for not supporting the companies and keeping them from being bought out. We must stop pretending to be patriotic and begin wearing it on our sleeves before Canada slips to having nothing more than colonial-related power once again. If we maintain this trend, we will continue to be a pawn in the world order.