Re: James Steidle: ‘Sawmill turncoats’ handing industry over to the U.S.
James Steidle challenged me to critique his latest column.
Let’s begin with his contention from Google’s AI, “a truly competitive economy would likely not produce billionaires.” My response - GIGO, garbage in, garbage out. A computer program will give you anything you ask it for. The reality is, the principles of a free market competitive economy that enable one to become successful in business are the same that enable astute businessmen to become billionaires.
Had we maintained the small mill model, they wouldn’t have been able to compete in the modern international marketplace. Hi-tech operations like Dunkley, Carrier, Lakeland are not small, they are the kind of modern mill needed.
So why is Canfor leaving? After going to all the trouble and expense of buying up those mills, amounting to what James calls a monopoly, why abandon it all? Monopolies are a way to make bigger profits. Why not keep the mills running here as well as in the US?
“Capital will always go where it’s welcome and stay where it’s well treated. Capital is not just money. It’s also talent and ideas. They, too, will go where they’re welcome and stay where they’re well treated.” — Walter Wriston, chairman Citibank.
Both federal Liberals and BC NDP want 30 per cent of BC conserved. They impose ever-increasing taxes and regulations, ever more bureaucracy over resource extraction, more hoops to jump through, more restrictions, more red tape. After a while it just isn’t worth the hassle.
And finally, they aren’t taking billions of our money into the U.S. Billionaires don’t have that much cash on hand, their wealth is tied up in assets. They make an investment, a down payment, but the rest is raised from capital markets, investors and banks. Then their U.S. operations will have to pay for themselves.
Art Betke
Prince George
