Respondents in the COMPAS CEO and business leader panel were asked about foreign ownership in the setting of the recent sales of the venerable HBC and Fairmont Hotels to non-Canadian interests. Panelists are generally unconcerned about foreign acquisitions of these properties or Canadian properties in general with the notable exception of oil and gas reserves and farm land, where panelists favour more restrictive laws and regulations.

A sizeable minority feel wistful about the HBC and Fairmont sales but almost none feel that governments should have intervened to forestall the sales.

Most feel that customers will benefit substantially from foreign ownership. Most see these sales as ordinary transactions, almost inevitable in an increasingly global economy. Asked to “think of any old, established business properties that could be sold to foreign interests next,” respondents were most apt to think of sales in or around the transportation sector - the railroads, airlines, and Canadian Tire.

These were the key findings from the most recent web-survey of CEOs and business leaders undertaken for the National Post under sponsorship of BDO Dunwoody LLP.

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