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How Montreal's Power Corp. found itself caught up in the biggest fiasco in UN history
Western Standard ^ | March 5, 2005 | Kevin Steel

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 news–never 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 America’s top-rated Fox News Channel, which draws millions of U.S. and international viewers, executives there probably weren’t 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 it’s 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 Canada’s biggest blue-chip companies, including the Investors Group, the country’s 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 world’s leading entertainment company, Bertelsmann, as well as a big piece of one of Europe’s largest oil producers. In 2003, Power Corp. reported annual revenues of $16 billion. . . . .

(Excerpt) Read more at ...

KEYWORDS: canada; canadian; chretien; corp; desmarais; hussein; martin; nations; oilforfood; paribas; paul; power; saddam; un; united; volcker; volker

1 posted on 03/06/2005 7:00:14 AM PST by MikeEdwards
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To: MikeEdwards; All

Click this picture & go to the "last" for the latest UN scandals:

If you aren't informed about this stuff, you will be made sick. If you are informed, you will be made mad, all over again.

2 posted on 03/06/2005 7:04:40 AM PST by backhoe (-30-)
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To: MikeEdwards

Great. Volker's up to his neck in the scandal. I try so hard not to be cynical but........

3 posted on 03/06/2005 7:07:23 AM PST by DManA
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To: MikeEdwards

here is the full story in more readable font:

4 posted on 03/06/2005 7:22:21 AM PST by Vn_survivor_67-68
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To: backhoe

I love the Delonas cartoons.

5 posted on 03/06/2005 8:11:47 AM PST by chet_in_ny
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To: chet_in_ny
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.

6 posted on 03/06/2005 8:13:55 AM PST by backhoe (-30-)
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To: DManA

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...

7 posted on 03/06/2005 9:04:09 AM PST by philsoc
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To: philsoc

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.

8 posted on 03/06/2005 9:24:16 AM PST by DManA
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