22:11:30 EDT Wed 24 Apr 2024
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or Name
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CA



Magna International Inc
Symbol MG
Shares Issued 389,659,171
Close 2016-08-08 C$ 52.96
Market Cap C$ 20,636,349,696
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Globe says Magna CEO Walker queries minds in Muskoka

2016-08-09 05:53 ET - In the News

Also In the News (C-CM) Canadian Imperial Bank of Commerce
Also In the News (C-MFC) Manulife Financial Corp
Also In the News (C-RY) Royal Bank of Canada
Also In the News (C-WN) George Weston Ltd

The Globe and Mail reports in its Tuesday, Aug. 9, edition that Magna International chief executive officer Don Walker recently held a session at his boathouse in Muskoka called the "Dock Unconference." The Globe's Andrew Willis writes that the day saw 30 top Canadian tech executives and colleagues from California head to Muskoka to chat with Mr. Walker and CEOs from a handful of leading companies, including George Weston, Royal Bank of Canada and Manulife Financial. Discussions revolved around the need to foster the next generation of cutting-edge tech companies in Canada. There is a recognition in Ottawa and on Bay Street, according to Mr. Willis, that policy makers and financiers need to do more to nurture promising Canadian growth companies into global tech champions. However, there is a hot debate over the role banks, insurers and pension funds will play in this nurturing process. One concept is to create a $1-billion-plus bank-backed private-sector fund that invests in small business and backs up that capital with skilled advisers, business development and networking events. The approach has its advocates, with the Bank of Canada, Canadian Imperial Bank of Commerce and private equity CEOs.

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