Purolator is owned by Canada Post though -- CP has a 91% share ownership of it. Does this mean CP gets a 91% cut on Purolator's revenues? I dunno, but Purolator is able to turn in some positive earnings, that has to be good news for CP as well, right?
I am not familiar enough with what Canada Post's business directions are, but Purolator spending big $$$ to acquire Livingston is a talking point that the CP union rep had used as a talking point to criticize CP. Supposedly, the acquisition was done for an undisclosed amount, but union rep was saying CP used the $1B that the federal gov had given it to conduct the acquisition, when they should have spent that money on restructuring their business and on the postal workers.
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Originally Posted by 6793026
so back to Canada Post.
TUrns out the CEO sits on Canada Post and also Puro, taking bonuses on both sides.
in 2024, they asked gov't for 1 billion repayable loan and then Puro acquired (900M) Livingston - does customs clearing.
How does CP own 65% share of market when it pushes business down to Puro and now down to 20-30% market share.
again, this was from a radio show - will fact check - on what the media WON'T report on etc.
He blames all these as stupid corp greed who looks as spreadsheets. It's a mgmt issue and not a pure front line benefits issue.
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