The Globe and Mail reports in its Saturday edition that Brian Mulroney's legacy as Prime Minister includes at least one example that has been celebrated by many investors: his push to privatize several government-owned corporate entities. The Globe's David Berman writes that under his leadership, Ottawa embarked upon a dizzying pace of transferring ownership to the private sector, starting in the mid-1980s. The moves created several stock market success stories and established the merits of privatization for other governments to follow. Mr. Mulroney drove deals that saw Air Canada, Cameco, Petro-Canada (now a subsidiary of Suncor) and Canadian National Railway -- to name several notable standouts -- become publicly traded companies that had to compete for the affection of investors who wanted efficiency and profits. The ride for investors was not always smooth, as fluctuating commodity prices and economic activity could sometimes deliver nasty surprises. For the most part, though, Mr. Mulroney's privatizations enhanced Canadian stock market diversification and offered even small investors the chance of becoming shareholders in long-lasting success stories, defined by rising dividends and share prices.