Foreign ownership restrictions to change

http://www.vancouversun.com/Foreign+ownership+restrictions+change/3125970/story.html

Summary:
This article talks about the changes in foreign ownerships for Canada in the telecommunication industry. Currently, regulations state that foreign firms are not allowed to own more than twenty percent of shares regardless of the companies' size. Industry leaders plan to relax the regulations so that it would not be as strict as it is now. There are also speculations that this will bring in billions of dollars in revenue after easing the regulations. With these new "rules," the top three companies in Canada (Bell Canada, Rogers Communications, Telus Corp.) will each be equal and have no advantages over any other company. Industry Minister Tony Clement, also decided to free-up regulation for smaller and newer companies such as Wind Mobile and Mobilicity. Clement ended by saying that Canada is one of the most "restrictive" countries when it comes to regulations.

Connection:
This article deals with the concept of foreign ownership. Foreign ownership occurs when foreign residents invest in Canadian assets and financial securities. In this case, it would be the Telecommunication industry. Foreign Ownership can benefit Canada in many ways. In employment, it is proved that one-tenth of all jobs in Canada are from foreign investments. Foreign-controlled companies also tend to be more orientated to world markets than Canadian-owned firms. Rob Bruce, president of Rogers', stated that "If it's opened up, it should be opened up for everyone." This statement adds to the fact that no company should have an advantage over any other.

Reflection:
I think it is great that the regulations are not being as strict for these phone companies. As seen in the article, billions of dollars can be earned just because of the ease of the regulations. It is also beneficial for the smaller companies such as Wind. Many people are planning to switch their phone plans to Wind because of the cheaper costs for their phone plans and they do not have to worry about any hidden fees. This is excellent for Wind as they are a smaller franchise compared to Rogers, Telus, and Bell. The larger companies tend to add hidden fees just because they can earn more money from the large consumer base they have, but I am sure many people will decide to switch to more "honest" companies instead.