stelco: corporate canada’s garagesale
Another Canadian corporate giant gets sold off, this time steelmaker Stelco goes to American company US Steel.
I’ve written about this before. Pretty soon, we won’t have any big companies left in Canada – tho the recent economic turmoil caused by bad subprime mortgages, means that cheap capital will be drying up, and we’ll see fewer billions floating around financial markets for big corporate buys.
In any case, long term, though, things don’t look good for the Canucks.