Wednesday, July 01, 2009

Our Home and Native Land. (Sold for pennies on the dollar, then leased back at a premium)

Today is the time to reflect on and appreciate our national institutions. At least, until they're done selling off their homes to keep the lights on:
The CBC says it would consider selling buildings that house its radio and TV stations in a bid to wrangle control over its cash-strapped budget.

Hubert Lacroix, president of CBC/Radio-Canada, says anything could be up for sale if efforts to generate funds elsewhere fail.
“It's a question of us being owed money over time and accelerating these cashflows,” Mr. Lacroix said Tuesday in a telephone interview from Montreal.

“If that doesn't work, we're going to have to go to our real estate portfolio,” he continued. “Anything that we own we would then look at probably trying to sell and lease them back.”

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