Canadian pacific airlines investor owned and a

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Canadian Pacific Airlines- investor owned and a subsidiary of the CPR Investor owned public utilities was taken over by government leaving only Bell Telephone the largest non-financial corporations. Manufacturing Manufacturing became the dominant sector of the economy The Big three auto and its big steel suppliers were the major players although there were other companies in distilling, food (meat packing), and brewery sector .
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Massey was still a major player, acquired Irish-based Ferguson Company and changed the name to Massey Harris Ferguson. Canadian Breweries gone internationally to US and UK Canadian General Electric became a subsidiary of American Central Electric Extractive sector With rich natural resources extractive sector became important The arrival of Big oil, an adjunct (link) to big auto, demand for gasoline Also new minerals (aluminum and nickel) also helped to restage the sector, as did the development of lumber industry By 1955 companies in the extractive sector were mostly foreign owned usually by Americans. Retail In 20 th century retail organization moved from their local base to a regional or national base, taking advantage of economies of both scale and scope National department store chain Regional supermarket chains Conclusion: Canada GDP per capita increase passed US,UK and Australia The public sector was still generally supportive of private sector even when government was more intrusive The economy still boomed under a free-enterprise capitalistic system and within a business friendly environment Sound financial system was in place, permitting the country to escape the major bank failures that U.S experienced during the great depression. The government introduced unemployment insurance (UI) at beginning of the 2 nd world war. After 2 nd world war Federal government created central mortgage and housing corporation (CHMC) to assist people in buying their own homes and amended the bank act to permit the banks to make mortgage loans Provincial level creation of Workman’s compensation Broads In private sector, banking system consolidated and resulting fewer banks Life insurance companies, large trust acceptance companies became major players in financial sectors Railroad had ranked top of Canada largest corporation, electrical utilizes companies
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Canada has positive outlook because of business friendly public policy, sound financial system, creative entrepreneurship, and variety of corporation with both domestic and foreign ownership. Week 4 Part2 CNR-Canadian Northern Railway Summer 1917: The Railway Mess War was costing Canadian casualties and Military services Act in 1917 led to riot and demand for money and manpower to support the war Temporary Income tax was established Problem of the Railway mess: Three transcontinental railways served a population of just over eight million which resulted in excessive capacity related to demand Royal commission recommended that the government take over the failing Canadian Northern Railway
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