While not immunizing our portfolio against market movements, our strategy makes it more resilient in turbulent times.

Michael Sabia

Categorized in : Industrials

It is the poster child of what can happen when the focus of capit... by Michael Sabia

It is the poster child of what can happen when the focus of capital markets is on the short term.

Alain Bellemare is doing a very good job. Turnarounds take time. Alain's been there about a year. In the history of a turnaround those are early days so we'll see how that progresses.

With respect to our partner ICA, we continue to think they are a very high quality operator, that they are a high quality partner for us, they have a substantial presence in the infrastructure business in Mexico, so we're very comfortable continuing to work with them.

The (SNC) board has done a lot of things in and around the issues the company has had, as a shareholder we have been supportive of those changes. And the fact that we haven't changed our position speaks volumes.

This is about the strategic use of the conversion of interests to work in the interest of the people of Quebec, we intend to go further. We intend to export this model. This model will help (other governments) to meet their needs. And in so doing, this will open new markets for the Caisse.

There is no question here about compromising independence, there is no question of the government imposing things, there is no question of the Caisse becoming the financial arm of the government.