🇨🇦: Canada Post is losing money.
The left thinks that’s okay. The right thinks it now needs to be sold off.
The elites & their politicians? They don’t want you to realize that Canada Post’s losses were manufactured so they could loot a public asset.
<thread> 🧵👇
The left thinks that’s okay. The right thinks it now needs to be sold off.
The elites & their politicians? They don’t want you to realize that Canada Post’s losses were manufactured so they could loot a public asset.
<thread> 🧵👇
2/ InnovaPost was Canada Post’s in house IT provider, handling key infrastructure like email and its shipping platform.
Brilliant. This allows internal transfer for the lowest cost, since any profits are returned.
It was sold to Deloitte in 2024. Obvs they must be suckers.
Brilliant. This allows internal transfer for the lowest cost, since any profits are returned.
It was sold to Deloitte in 2024. Obvs they must be suckers.
3/ Canada Post built SCI, a third-party logistics company (3LP) w/ synergistic operations. It was one of 🇨🇦’s largest 3PLs, essential ecommerce infrastructure.
“SCI has been a strong performer for the Canada Post Group of Companies over the years,” Canada Post’s CEO in 2024.
“SCI has been a strong performer for the Canada Post Group of Companies over the years,” Canada Post’s CEO in 2024.
4/ so strong he… sold it?
SCI had 75 warehouses, over 4 million sqft of prime real estate w/advanced automation, benefitting from public resources.
3,000 employees. Handled $1b in inventory at any time. It was sold to Quebec-based Metro Supply Chain, now 🇨🇦’s largest 3PL.
SCI had 75 warehouses, over 4 million sqft of prime real estate w/advanced automation, benefitting from public resources.
3,000 employees. Handled $1b in inventory at any time. It was sold to Quebec-based Metro Supply Chain, now 🇨🇦’s largest 3PL.
5/ one of Metro Supply’s largest backers is Quebec’s public pension. SCI prints money & it’s impossible to rebuild, so they were happy.
Canada Post management didn’t disclose its assets or revenues—or the final price, just the net. No politicians had questions? 🤷♂️
Canada Post management didn’t disclose its assets or revenues—or the final price, just the net. No politicians had questions? 🤷♂️
6/ Here’s the kicker: Canada Post Group lost $1.3B last year—5x its losses in 2022, before it was restructured to dispose of assets.
Current CEO was appointed by the LPC in 2019. Guess how much they lost that year, before he had full control? It turned a $69M profit.
Current CEO was appointed by the LPC in 2019. Guess how much they lost that year, before he had full control? It turned a $69M profit.
7/ That was just two of the dozens of questionable decisions I spotted reading old financials.
Profitable business segments were sold off to amplify losses.
It’s not the workers. It’s not public services.
It’s not an accident. It’s a robbery.
Profitable business segments were sold off to amplify losses.
It’s not the workers. It’s not public services.
It’s not an accident. It’s a robbery.
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