Madam Speaker, I am sure the member for North Vancouver wanted to offer some constructive suggestions but I am afraid he missed the point. Canadian Commercial Corporation serves a very useful purpose in Canada's economy. I will give a specific example.
There is a company in my riding by the name of Soheil Mosun Limited. It is a small company that is noted for its excellence in what is called architectural decorative work. It bid on a project in the United States through a general contractor. It was a subcontractor. It was successful but it had to come up with a performance bond that was quite elaborate. It went to the private marketplace and could not find the performance bonding requirements that it needed. It had discussions with the Export Development Corporation. Finally, the Canadian Commercial Corporation provided the performance bond.
This company has gone from strength to strength to strength. It is now an international player. It has developed a credibility in the U.S. marketplace. It has been asked to bid on projects throughout the United States. Now one of its challenges is working capital, to make sure it has the working capital to keep pace with the growth in its business. It brought in some expertise.
The company is growing from strength to strength. It is a small company, a father and two sons. They have grown this business as a result of the support of the Canadian Commercial Corporation into an amazingly dynamic and successful business. It is creating jobs in my riding of Etobicoke North. Again the CCC helped create another company with an amazing reputation as a world leader in this particular niche.
Perhaps the experience of the hon. member for North Vancouver is somewhat different. Or maybe he just is not aware of the needs in that community and the way the Canadian Commercial Corporation can fill the very important gaps that the private sector for whatever reason is not able to fill. That is the very purpose and the reason we have these crown corporations, to move into those areas where the markets cannot meet the demand.
Would the member reflect on those comments, check his notes about companies in his riding and perhaps reconsider his views on this very important piece of legislation?