Skip to comments.How Montreal's Power Corp. found itself caught up in the biggest fiasco in UN history
Posted on 03/06/2005 7:00:10 AM PST by MikeEdwards
Most Canadian companies look forward to the day they earn themselves a mention on the prime-time news. They hire PR firms and spend thousands to harass news
editors with press releases to tout their latest acquisition, invention or foreign venture in hopes of convincing someone to give them even a passing mention on the national newsnever mind the nearly unimaginable publicity of being plugged on a U.S. newscast.
But when Montreal-based Power Corporation of Canada found itself, in late January, the topic of a news story on Americas top-rated Fox News Channel, which draws millions of U.S. and international viewers, executives there probably werent thrilled. Unlike most publicly traded firms looking to build their brand on Wall Street, Power Corp. is, at the best of times, a quiet, often obscured company (in the past year its issued a total of five news releases). That might seem strange, given the massive size and, well, power wielded by the holding company. Power controls some of Canadas biggest blue-chip companies, including the Investors Group, the countrys largest mutual fund dealer, and investment firm Mackenzie Financial. It owns insurers Great-West Lifeco, Canada Life and London Life. Power owns several Quebec newspapers, including La Presse. It also holds substantial positions in Chinese airlines and telecom firms and has large stakes in the worlds leading entertainment company, Bertelsmann, as well as a big piece of one of Europes largest oil producers. In 2003, Power Corp. reported annual revenues of $16 billion. . . . .
(Excerpt) Read more at canadafreepress.com ...
Click this picture & go to the "last" for the latest UN scandals:
Great. Volker's up to his neck in the scandal. I try so hard not to be cynical but........
here is the full story in more readable font:
I love the Delonas cartoons.
I've gotten far better "click the pix" responses with that cartoon than with the UN logo, which I used to use. There's truth in humor.
I was trying to figure out what seemed so strange about this story - and then it struck me. WOW! An endangered example of the once-popular species called investigative journalism.
While one might argue that this originates from a 'conservative' viewpoint, it is well-argued, defended and supported. And you know what, it actually looks like they did some research of their own instead of just asking political partisans what they thought.
Man, I hope this is as contagious as democracy seems to be...
Washington is a target rich environment for an investigative journalist. Go to any agency, scratch just a little bit, bam!!! a billion dollar rip off to expose.