says it has decided to keep its Petro-Canada retail business after a comprehensive review that included what it would mean to sell the operations.
The company says instead it will look to improve its retail operations including expanding strategic partnerships in non-fuel related businesses such as quick service restaurants, convenience stores, loyalty partnerships and energy transition offerings. Suncor undertook a review of Petro-Canada after reaching a deal with activist investor Elliott Investment Management LP, which had expressed frustration with the company’s performance.
The process included an analysis of the business, including an assessment of the value of Suncor’s integrated model, studies of the future of retail in Canada and Petro-Canada’s growth plans.Suncor chair Mike Wilson says the company’s board concluded that keeping and optimizing the retail business will generate the highest long-term value for shareholders.Your Globe
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Leading the way: Canadian aerospace industry poised for successWas the Avro Arrow the last great accomplishment for the Canadian Aerospace sector? Have the collective efforts of the men and women in our industry peaked with a class-leading fighter aircraft designed in the late 1950s? With bold leadership and initiative, we can once again empower the more than 200,000 men and women in Canada to lead, grow, and power Canada’s economic engine. To set about the conditions for this future state. We need to establish a baseline understanding of two principle conditions: bold leadership and incentives. Bold leadership is required to establish any new enterprise and push for change in an existing system. A quote from former U.S president John F. Kennedy can best describe it: “We choose to go to the moon in this decade and do the other things, not because they are easy, but because they are hard, because that goal will serve to organize and measure the best of our energies and skills.” This bold leadership is foundational. It recognizes that we should proudly stand behind, push, and promote our Canadian aerospace industry to meet the challenges of today and tomorrow. Secondly, a government’s principal purpose is to create two types of incentives: incentives to promote the right action and incentives to prevent the wrong action. Incentives serve as a key requirement in order to sustain the interest of the key stakeholders. Charlie Munger of Berkshire Hathaway once said, “show me the incentive, and I’ll show you the outcome.” The proper mix of monetary and non-monetary incentives will need to be in place to create the conditions for a prosperous aerospace industry in Canada. The next steps: a plan to lead in Canada Canada must lead in the adoption of drone and advanced air mobility solutions As Canadians, we celebrate the geographic reach of our country. “From coast to coast to coast.” This obligation extends to the monitoring and defence of our sovereign territory. The Government of Canada should create a made-in-Canada requirement to Libs love to decide winners & losers. How many billions $ will they pump into aerospace while the industry that would help our economy greatly, as it's done for a century, but could also help many countries suffering energy shortages, is being deliberately killed by Lib. gov.
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