Our city gets tied to one of today’s major capitalists, and becomes a source for stock market analysis, in business news. But it’s not all about the alrighty dollar, as we also endure a peaceful, righteous protest. Rock full links after the jump.
BIG SPENDER
from New York
The Bloomberg business news service published a ridiculously long profile of Henry Kravis, the guy who took over RJR Nabisco nearly 20 years ago in a $31.4 billion deal that changed the way takeovers are done. Since then, says the piece by Richard Teitelbaum, “Kravis is buying companies at a record clip,” helping start “a new era of capitalism.” What’s Halifax got to do with it?
In April, the buyout mogul is standing in a ballroom of the Waldorf-Astoria hotel in New York, telling AIDS researcher Dr. David Ho, architect Maya Lin and Yahoo! Inc. co-founder Jerry Yang that the private equity industry he helped invent is hotter than ever. “We’re in, right now, the golden age,” Kravis, 63, tells a gathering of prominent Chinese-Americans and Wall Street executives.
In May, Kravis is up in Halifax, Nova Scotia, saying, again, that the takeover arena has never looked better.
“The private equity world is in its golden era right now,” Kravis tells a conference of bankers and investors. “The stars are aligned.” (story here)
For some people, seeing Kravis in town must have been a big deal. I, however, missed the event.
TAKING STOCK
from Toronto
When the Toronto Stock Exchange jumps, the Financial Post is there to catch it. The main index is up 140 points, which matters because…
“The resources are stronger today across the board,” said Steve Ibel, institutional equities trader at Beacon Securities, in Halifax, Nova Scotia. “We’re doing all right on Toronto so far.” (story here)
Oh, that’s a relief Steve, because I was wondering.
GENTLY ROCKING THE BOAT
from Toronto and beyond
News outlets from the west coast to central Canada are reporting on the “peaceful protests” First Nations groups held this morning in Nova Scotia and New Brunswick, part of a day of action to improve First Nations’ living conditions. The earliest one reportedly happened this morning, with about 30 people waving signs and handing out pamplets to cars coming off the Macdonald Bridge. The Globe and Mail says our favourite member of parliament was there:
”I think aboriginal peoples observe with both anger and grief that Canada continues to want to be seen around the world as a country that stands in solidarity with people who are poor and dispossessed,” said New Democrat MP Alexa McDonough, who joined in the first protest during rush hour in Halifax.
Miss McDonough urged the government to change its policies, which vigil organizer Carol Millett of the Metro Coalition for a Non-Racist Society said includes settling land claims, eradicating poverty and honouring the Kelowna Accord. (story here)
The Globe‘s headline is “Protest in East remains calm.” This is mainstream media shorthand for “Shit, we won’t get any photos of tear gas and broken windows. What were the cops thinking?”
Don’t make me send out the goons. When you find Halifax mentioned online, just send the link here.
This article appears in Jun 28 – Jul 4, 2007.
