Madam Speaker, I have a short question if I could.
I respect this member as a business person too, but the effect of what he is suggesting would cause the exact reverse. His colleague put forward an amendment indicating that we should offer it to Canadians first. We agree that in order to effectively get the value of shares for Canadian taxpayers for CN we need to have a broadly based offer in North America. We know there is not enough capital in Canada. To suggest that Canadians are lining up to buy 15 per cent, which is worth at least $200 million, I do not know of many pension funds and individuals who can afford to pay 15 per cent.
The second thing is that if in fact we want to achieve a 100 per cent sale and maximum value for Canadians, we cannot impose restrictions to say let us sell it to Canadians first and then let somebody else buy the rest. It is impossible to achieve that. We agree. And we want to achieve the maximum value.
The board of directors for CP, a private corporation, have decided that Montreal should be its headquarters and 70 per cent of its business is also out west. How does he rationalize that?