Column: Best of luck, Jerry…

Here’s a column I just posted to the Globeandmail.com website, about Jerry Zucker’s $1-billion bid for Hudson’s Bay Co.: “To U.S. investor Jerry Zucker, who has just launched a takeover bid for the oldest company in North America — The Governor and Company of Adventurers of England Trading Into Hudson’s Bay, otherwise known as Hudson’s Bay Co. — we have just one thing to say: Best of luck.

Way back when, this legendary company may have controlled more than a third of what is now Canada, and part of the northern United States, but here in 2005 it barely controls anything. HBC may be the largest remaining department store retailer in Canada, but it has achieved that title mostly by default, since Simpson’s went out of business decades ago, Eaton’s went bankrupt (not once but twice) and eventually ceased to exist, and Sears has shrunk to a shadow of its former self and is on life support.”

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