As a rather ancient and retired former grain and livestock producer, I read with interest and some concern that the Canadian Pension Plan Investment Board [CPPIB] has purchased 115,000 acres of prairie farmland from Assiniboia Farmland LP.
Michael Leduc, senior managing director of the CPPIB has stated that the Board exists to provide a foundation upon which Canadians can build their financial security in retirement. He also states that he liked the business model of Farmland LP.-- because they support family farms.
Surely, Mr. Leduc knows that it is the legal responsibility of a corporation to ensure the highest possible monetary returns to their shareholders “regardless of any other stakeholders.”
In 2011 and 2012 the CPPIB had increased their investments in Lockheed Martin from $1 million to $78 million. The CPPIB has also increased its investment in The Bank of East Asia, [BEA] with branches here in Canada, from $1 million to $30 million.
Both Lockheed Martin and BEA are involved in the production of the weapons of war. It is highly unlikely that family farms would favour their land being used to enhance the profits of the manufacturers of arms.
The loss of what was left of the CWB to Saudi and American interests, simply indicates the move to eliminate family farms, and place the production of food into the tentacles of global corporations.
Leo Kurtenbach
Saskatoon, SK
