Brookfield Asset Management, Gordon Campbell and the Canwest Lifeline

Two bits of irony for you this early morning:

First, news today on the Canwest front ( Global BC, The Sun, The Province) from The Globe and Mail:

http://www.theglobeandmail.com/servlet/story/LAC.20090511.RCANWEST11ART1943/TPStory/Business

” CanWest Global Communications Corp.CGS-T . is reviewing as many as four proposals from outside investors to restructure the company and avoid filing for protection from creditors.

Some proposals will be looked at this week, sources close to CanWest indicate, and a roster of potential firms interested in participating in a recapitalization could include Fairfax Financial FFH-T , Onex Corp.OCX-T and Brookfield Asset Management BAM.A-T . An unnamed Australian private equity investor is also interested in a stake in the company’s Australian television network. ”

Brookfield Asset Management? http://www.streetinsider.com/stock_lookup.php?q=BAM 

 Not THIS Brookfield Asset Management, the one I blogged about having a handhold on plenty of  B.C’s forestry assets? The same one that donated $50,000 to the BC Liberals? The same one that ….. well, I’ll let you read all the gory details here :

https://lailayuile.wordpress.com/2009/04/21/brookfield-asset-management-gordon-campbell-and-british-columbias-best-assets/

Here’s an excerpt:

” Here is the page that comes up when you google ” Gordon Campbell” + ” Brookfield Asset Management” :

http://www.google.ca/search?hl=en&q=gordon+campbell+and+brookfield+asset+management&meta=&aq=f&oq=

This may be interesting for those of you who have not heard the names together, because  this company has quite a few interesting and contentious relationships  to Campbell and the BC Liberals….. and the company has also had a firm grip on some of BC’s  best and most precious forest assets – which appear to have become the West Coast’s best real estate.

Let’s have a look down the page … ”

-snip –

“Then Weyerhaeuser sold all of its forestland on Vancouver Island to Brookfield Assets Management Inc. Through the BC Investment Corporation, 25% of Island Timberlands is owned by BC Government employees via their pension funds.

Since 2005, profits from this logging company have been stored offshore in Bermuda by Brookfield Asset Management in order to minimize taxes paid in Canada.”

– snip-

“Brookfield Asset Management Inc. has been strategically placing forestland on the real estate market along the east coast of Vancouver Island.”

Ah, maybe it’s just me, but this just makes me laugh.Our forests, our premier, our press… What next?

No,to get to that second bit of news…..which I’ll call:

 ” Put Your Money Where Your Mouth is Premier”

Despite heralding the value of our precious BC lumber,and promising to help the desperate situation of forestry workers all over the province, the BC Liberals actually imported American lumber from Oregon based Stimson Lumber!!!!

The fool and his team actually used imported wood to hold up those very large and obnoxious like L.Ron Hubbard, self- promoting signs along highway 1 – you know the ones. Billboard size con-artist click Gateway Propaganda crap? Yep, all those posts could have been bought from a local Surrey mill, Mackenzie Sawmill, ensuring that whats made in BC, is used in BC. The company is only 3 Kilometres from the Port Mann Bridge….

Ironic? Yes.

Surprising? NO!!

While this may seem like a small and petty story, the sentiment is clear.

Put your money where your mouth is Premier Gordon Campbell. Using American lumber isn’t exactly going to ” Keep BC Strong!”