Will we see a re-nationalization of Air Canada or PetroCanada?
A new report in the Globe and Mail reveals the Liberals’ plan to colonize boards of directors and take part government ownership of large employers seeking Federal help to survive the government mandated coronavirus shut down:
“The Large Employer Emergency Financing Facility (LEEFF) program, particularly aimed at airlines and oil and gas companies, was announced on May 11 and is designed for distressed companies with at least $300-million in annual revenue. The minimum loan size will be $60-million, and there is no explicit maximum loan size.
The program offers the government’s help as a lender of last resort to companies that are unable to obtain private financing and would be at risk of falling into bankruptcy owing to the economic impact of the novel coronavirus pandemic.
The new details of LEEFF state that a company must provide the federal government with the option to purchase common shares through a stock warrant, or receive cash equivalents, equal to 15 per cent of the principal amount of the loan. A stock warrant gives an investor, which in this case is the government, the option to buy company shares at a specific price by a specific time. The conditions also say the government could appoint an observer to the corporate board of the company receiving a loan.”
But this isn't the first time the feds have made the very businesses they caused to struggle due to Liberal incompetence swear allegiance to the Liberals to be able to get some help.
Hidden in the newly launched Canada Emergency Business Account is a liberal landmine. To qualify for the government-backed bank loan, the struggling applicant businesses must profess that it does not promote violence, incite hatred or discriminate on the basis of sex, gender, sexual orientation, race, ethnicity, religion, culture, region, education, age or mental or physical disability”.
The problem is the Liberals' definitions of those things — discrimination, hate and violence — are ever-evolving, to mean values that don’t comport with stuff Justin Trudeau likes.
Last week, the federal government announced that any large employer applying for government help would also have to comply with the Liberals values around climate change.
What a scam. The government closed these businesses and caused mass layoffs, and now the government wants to seize control of the companies in exchange for help for the damage the government inflicted upon them in the first place!
The businesses were forced to close because the government failed to close the borders to stop the spread of the coronavirus.
These days, it’s getting hard to tell the Liberals from a mob protection racket.