Monday, April 25, 2011

 

BC Rail: Has anybody seen our railway?

.
Bill Gates identified as largest CN shareholder

The Canadian Press - April 25, 2011
 
(AP Photo/Jacques Brinon)

MONTREAL — Microsoft co-founder Bill Gates has become the largest shareholder of Canadian National Railway, with a $3.2-billion stake in Canada's largest rail company.

Montreal-based CN (TSX:CNR) says the world's second-wealthiest man owned or exercised control over 10.04 per cent of its shares as of Feb. 25.

Gates has been buying up the railway's stock since being identified as a shareholder in 2006.

He holds the 46.07 million shares through Cascade Investment and as co-trustee of the Bill & Melinda Gates Foundation Trust, CN said in a proxy circular ahead of Wednesday's annual meeting in Chicago.

The value of Gates' shares are based on Monday's trading price of $69.75, down 13 cents in morning trading on the Toronto Stock Exchange.

CN's market capitalization for its 458.6 million shares was $32 billion.

Gates friend Warren Buffett, through his holding company Berkshire Hathaway Inc., acquired full control of U.S. rail company Burlington Northern Santa Fe Corp. early last year. {Snip} ...

Source:
 
http://m.ctv.ca/topstories/20110425/bill-gates-cn-shares-110425.html#menu

"""""""""""""""""""""""""""""""""""""""""""""""""""""

A very good comment ... 

Ten years ago, I was in a antique store where the owner had a 3,000 year old Chinese vase for sale. While there, one of his best customers came in and bought the vase. He, the customer, was the same age as Bill Gates is today, 55.

The Customer said "Now I own this Vase!"

After the Customer had left, the store owner said: All that the customer has done is paid me so that he look after the vase. He'll never own it. Its been around for 3,000 years, and will last, with great care, another 3,000 years.

The owner at 55, will be lucky if he lives, in good health, to 95, and appreciate what he has.

All that Bill Gates has bought is shares in a company. One thing is for sure, the BC Railway assets won't be hung on a wall like a famous painting for some Executive Officer to view in his spare time, and not knowing when some terrorist will show up to ram his fully fueled jet liner through the building and destroy... BC Rail.....

It's ours BC Mary, and always will be, no matter how much skullduggery that the current bunch of politicians try to pull off on the public. 

""""""""""""""""""""""""""""""""""""""""""""""""""""""



Comments:
Ten years ago, I was in a antique store where the owner had a 3,000 year old chinese vase for sale. While there, one of his best customers came in and bought the vase. He, the customer, was the same age as Bill Gates is today, 55.

The Customer said "Now I own this Vase!"

After the Customer had left, the store owner said: All that the customer has done is paid me so that he look after the vase. He'll never own it. Its been around for 3,000 years, and will last, with great care, another 3,000 years.

The owner at 55, will be lucky if he lives, in good health, to 95, and appreciate what he has.

All that Bill Gates has bought is shares in a company. One thing is for sure, the BC Railway assets won't be hung on a wall like a famous painting for some Executive Officer to view in his spare time, and not knowing when some terrorist will show up to ram his fully fueled jet liner through the building and destroy... BC Rail.....

Its ours BC Mary, and always will be, no matter how much skullduggery that the current bunch of politicians try to pull off on the public.
 
Yep, Gates has been the largest shareholder for years. He started buying up CN when it purchased BC Rail. The share prices of CN continued to rise even through the recession. CN has been making good acquisitions; their shares always go up, and they always pay dividends. Gates makes money the old-fashioned way, he owns it. That's how the people BC used to have it when we owned the BC Rail.

http://www.cn.ca/en/investors-shareholder-stock-price-history.shtml
 
Here is the link to the CN Commercialization Act

http://laws-lois.justice.gc.ca/PDF/C-0.2.pdf

Check out article 8(1)a,b,c which was part of the original agreement for the privatization of CN.

Two things are of importance:
(a) provisions imposing constraints on the issue, transfer and ownership, including joint ownership, of voting shares of CN to prevent any one person, together with the associates of that person, from holding, beneficially owning or controlling, directly or indirectly, otherwise than by way of security only, in the aggregate, voting shares to which are at- tached more than fifteen per cent of the votes that may ordinarily be cast to elect directors of CN;

and

(c) provisions specifying that the head office of CN is to be situated in the Montreal Urban Community, Quebec.

Here is a question for you Mary, why was BNSF (a much larger railway) in the attempted merger with CN, willing to agree to the condition, headquarters remain in Montreal Canada.

Just prior to the stealing of BC Rail by CN, this merger was mutually dissolved because the US Feds put a moratorium of 15 months on any rail mergers.

As has been written, CN then make sure that BNSF did not purchase BC Rail.
 
BNSF didn't care because most of CN's offices and rail operations are in the US. I have heard there are many companies with a head office consisting of little more than a hotel room in the Caiman Islands. So, yeah, a few times a year, a board gets together in Montreal (not far from NYC) for a few days of work and whatever else they can find in the evenings to amuse themselves on St. Catherines.
 
http://grittv.org/?p=15553

Another example of Buffet and Gates at their vile best.
 
Bill Gates is one wealthiest man , is the largest shareholder in Canadian National Railway. Which many other business he wanted to Operate.
 
Post a Comment

Links to this post:

Create a Link



<< Home