Posts with the Shaw Communications tag

Barris Beat, Events

Bigger’s not better

Written by Ted Barris on . Leave a comment

The first indications were the odd-coloured new signs. All of a sudden, the regular logo where we normally make our deposits, pay our bills and withdraw our cash, began disappearing in literature, pamphlets and, as I say, on the signage inside and outside the building. Then, we received email notification.

“We’re making changes so that you can experience the good in banking,” the email said. “We’re transitioning banking systems.”

As of the July 1 holiday weekend, the Credit Union, at which we have conducted the majority of our financial dealings since we arrived here in 1988, is no more. (more…)

Barris Beat

Merge at our peril

Written by Ted Barris on . 1 Comment
John Cleghorn, in 1989 Chair of Royal Bank of Canada. torontopubliclibrary.ca

The meeting happened on a November afternoon in 1998. A big merger was in the wind. Rumour of “Yea” or “Nay” ran rampant across the country. One man in the room at a Montreal home argued his industry needed to grow bigger in order to compete globally. The other feared that sector’s customers, Canadian consumers, might not be well served. The industry man got riled.

“You’re not listening to me!” complained John Cleghorn, chairman of the Royal Bank of Canada.

Paul Martin, in 1989 Finance Minister. National Post.

“Mergers … are not in the best interest of Canadians,” said Paul Martin, the MP and cabinet member.

This exchange, described by the Canadian Encyclopedia, recreated the meeting between banker Cleghorn and then finance minister Martin at the latter’s Montreal home. (more…)