Author Topic: Stronach quitting politics for Magna  (Read 3298 times)

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Offline cplcaldwell

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Stronach quitting politics for Magna
« on: April 11, 2007, 18:18:55 »
From todays Globe and Mail. Shared under the Fair Dealings Provisions of the Copyright Act, RSC


Stronach quitting politics for Magna
GREG KEENAN AND GLORIA GALLOWAY

Globe and Mail Update


TORONTO and OTTAWA — Belinda Stronach, who left Magna International Inc. to forge a career in politics, is returning to the company her father Frank Stronach founded in a Toronto garage in 1957.

Ms. Stronach will replace Fred Gingl as executive-vice chairman of Magna, returning at a time when Magna is in the midst of teaming up with Onex Corp. to consider a bid to buy Chrysler.

“My father is looking to the future, the company is facing important strategic decisions and the Canadian and global auto sector and economy is in a period of great challenge,” Ms. Stronach said in a statement issued Wednesday.

Magna is one of four entities interested in separating Chrysler from its parent DaimlerChrysler AG after DaimlerChrysler effectively put the unit up for sale earlier this year.

Belinda Stronach is seen here making her way to a session at the Liberal Leadership Convention in Nov., 2006, in Montreal. On Wednesday, Ms. Stronach announced she will not stand for re-election as a Member of Parliament in the next federal election and will return to Magna International, where she will become executive vice-chairman. (CP)

 Ed Lumley, who is departing as Magna's lead director when a new board of directors is elected next month, said Ms. Stronach brings “an unparalleled understanding of Magna's unique corporate culture, which has been the major contributor to Magna's historical success.”

She has extensive experience in the auto industry and has gained national and international exposure as a federal Cabinet minister.

She left the company in January, 2004, to run for the leadership of the federal Conservative Party, which she helped create by urging the leaders of the Reform and Progressive Conservative parties to unite.

At the time, she was president, chief executive officer and a member of the board of directors.

She lost the leadership race, but was elected to Parliament, then later crossed the floor to join the Liberal Party and take a cabinet seat.

Ms. Stonach said she will not stand for re-election in the next federal election.

“I am always assessing the best role I can play in public life and after being encouraged by members of the corporate leadership at Magna to return, I have decided the timing of my return to the business should not be delayed,” Ms. Stronach said in a release.



I just don't know what to say <sob> I can't believe <blubber> this has happened... I'm all busted up inside ... !!
« Last Edit: April 11, 2007, 18:27:09 by cplcaldwell »
Ihr Racker, wollt ihr ewig leben? - Frederick the Great

Online GAP

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Re: Stronach quitting politics for Magna
« Reply #1 on: April 11, 2007, 18:40:49 »
bye bye
Two things are infinite: the universe and human stupidity; and I´m not so sure about the universe

Offline JesseWZ

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Re: Stronach quitting politics for Magna
« Reply #2 on: April 12, 2007, 01:02:02 »
Am I in violation of some policy or other by saying good riddance?
I will be seen and not heard... I will be seen and not heard... I will be seen and not heard...

Offline Bane

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Re: Stronach quitting politics for Magna
« Reply #3 on: April 12, 2007, 01:04:04 »
Likely the best choice for all involved.
"Always be able to kill your students".- Masaki Hatsumi

Offline retiredgrunt45

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Re: Stronach quitting politics for Magna
« Reply #4 on: April 12, 2007, 01:48:11 »
Daddy asked her to be vice president of the company, being the heiress of a multi-billion dolar comapny, she couldn't very well say no. Back to fairy tale land with her. Best choice she's made yet.
The first goal of any political party is to stay in power by whatever means possible. Their second goal is to fool us into believing that we should keep them in power.

A politician is like a used car saleman, he'll promise you a "peach" and then turn around and sell you a "lemon"

"Politicians are like diapers, they have to be changed often because their usually full of crap.

Offline warspite

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Re: Stronach quitting politics for Magna
« Reply #5 on: April 12, 2007, 02:28:08 »
BYE BYE..... you will be missed.... your absence will be noted.......

Offline Thucydides

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Re: Stronach quitting politics for Magna
« Reply #6 on: April 12, 2007, 08:23:01 »
If she is as good at business as she is at politics, I would check my stock portfolio  :o
Dagny, this is not a battle over material goods. It's a moral crisis, the greatest the world has ever faced and the last. Our age is the climax of centuries of evil. We must put an end to it, once and for all, or perish - we, the men of the mind. It was our own guilt. We produced the wealth of the world - but we let our enemies write its moral code.

Offline Journeyman

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Re: Stronach quitting politics for Magna
« Reply #7 on: April 12, 2007, 08:31:08 »
Quote
Ms. Stronach will replace Fred Gingl as executive-vice chairman of Magna, returning at a time when Magna is in the midst of teaming up with Onex Corp. to consider a bid to buy Chrysler.
Any chance she'll cross the floor and join Ford?  ;)
It should now be obvious that running a country is NOT an entry-level job.  [Yes, it applies to both sides of our border]

Offline Gardiners1

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Re: Stronach quitting politics for Magna
« Reply #8 on: April 12, 2007, 08:37:50 »
Any chance she'll cross the floor and join Ford?  ;)

Classic.  :)  And in other news Tie Domi was hired as Belinda's secretary at Magna.

Offline geo

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Re: Stronach quitting politics for Magna
« Reply #9 on: April 12, 2007, 08:41:48 »
Yawn!!!

Damned if she does, damned if she doesn't.....
Might as well get away from the cameras & get a life

Bye, bye!
Chimo!

Offline RWA

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Re: Stronach quitting politics for Magna
« Reply #10 on: April 12, 2007, 09:33:01 »
I guess Belinda got bored with the Liberal party like she did with the Conservative party which she left because she couldn't win the leadership race. Belinda Stronach is the Paris Hilton of Canadian politics and thats not a compliment. Goodbye and good luck Belinda.

Offline Juvat

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Re: Stronach quitting politics for Magna
« Reply #11 on: April 12, 2007, 11:14:07 »
Wait a minute.  She can't leave now, she hasn't crossed over to Layton's camp yet!
Audentes Fortuna Juvat

Offline JesseWZ

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Re: Stronach quitting politics for Magna
« Reply #12 on: April 12, 2007, 14:01:03 »
Question:
Would that make the NDP more credible or less credible?
I will be seen and not heard... I will be seen and not heard... I will be seen and not heard...

Offline warspite

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Re: Stronach quitting politics for Magna
« Reply #13 on: April 12, 2007, 16:13:09 »
Question:
Would that make the NDP more credible or less credible?
Scary thing is that actually poses a question which is debatable ;D

Offline IN HOC SIGNO

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Re: Stronach quitting politics for Magna
« Reply #14 on: April 14, 2007, 14:33:24 »
Daddy couldn't buy her the leadership of the Conservative party so she went Liberal. Daddy couldn't buy her the leadership of the Liberal party so she's going somewhere where Daddy actually can have some influence....his company!
Makes me laugh too when she's all weepy about women getting no respect in politics. It's been my experience in life that people of either gender, any race or creed gain respect by the measure of their character....her's was often in question and not a lot of respect was due....IMHO. ;)

Offline Baden Guy

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Re: Stronach quitting politics for Magna
« Reply #15 on: April 14, 2007, 15:27:21 »
This time, it's Fred who crossed the floor

By DAVID PARKINSON 

Saturday, April 14, 2007 – Page B2


You'd think contemplating the purchase of one of the world's biggest car companies would be pretty all-consuming, but apparently it's not enough to keep Frank Stronach busy. He still found time this week to play some musical chairs in Magna International's executive suites. And, surprise, surprise, the apple of his eye and fruit of his loins, Belinda, landed one of the best seats in the house when the music stopped. Which is fitting, since she had one of the best seats in the House -- of Commons -- for a time, but I guess she wasn't fond of the wobbly legs and all the gum under the chairs on the Opposition side. (Maybe she'd like the decor better if she could find a party she could commit to -- like, say, one she could lord over like some all-powerful goddess of political war. But I digress.)

Just days before Ms. Stronach resumed her corporate career as Magna's new executive vice-chairman, the old executive vice-chairman, Fred Gingl, stepped aside. Coincidence, they insist. Ahem. Mr. Gingl, who has long played Sideshow Mel to Frank Stronach's Krusty the Klown, will now head up Frank's latest pie-in-the-sky sideline, a lifestyle and accessories business. Seems to me that lifestyle accessories sound more up Belinda's alley. Just ask Tie Domi/Peter MacKay/Johann Olav Koss.

http://tinyurl.com/yog8ob



 

Offline IN HOC SIGNO

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Re: Stronach quitting politics for Magna
« Reply #16 on: April 14, 2007, 16:19:29 »
Feel the love!  ;D