The Toronto Star Business section (1/12/12) reported that US home
improvement giant, Lowes, has offered $1.8 billion to buy Quebec-based
Rona. The idea is that the industry is somewhat 'overbuilt' in Canada,
meaning that the big players got greedy and expanded ahead of the
demand. The "good" thing would be that the takeover would lead to a
store 'rationalization' meaning reduction of the number of stores.
Somewhere in all this jargon is the fact that a lot of people are going
to lose their jobs -- but that's the last consideration when
accumulation of wealth is at risk. John Ayers
improvement giant, Lowes, has offered $1.8 billion to buy Quebec-based
Rona. The idea is that the industry is somewhat 'overbuilt' in Canada,
meaning that the big players got greedy and expanded ahead of the
demand. The "good" thing would be that the takeover would lead to a
store 'rationalization' meaning reduction of the number of stores.
Somewhere in all this jargon is the fact that a lot of people are going
to lose their jobs -- but that's the last consideration when
accumulation of wealth is at risk. John Ayers
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