Latest news with #Leblanc
Yahoo
25-02-2025
- Business
- Yahoo
TFI abandons plan to relocate to U.S. following shareholder backlash
Montreal-based TFI International Inc. is reversing plans to re-domicile from Canada to the United States just a few days after announcing its intention to move. Last week, TFI surprised investors by unveiling plans to change its legal headquarters to the U.S., raising the ire of a major shareholder, the Caisse de Depot et Placement du Quebec (CDPQ), which said in a statement that it would make its 'dissatisfaction' known. On Monday afternoon, TFI reversed course. 'Based on feedback from shareholders received to date, TFI International will remain a Canadian corporation and will not pursue its previously-announced intention to re-domicile from Canada to the United States,' the transport and logistics company said in a press release. Robert Yalden, the inaugural holder of the Stephen Sigurdson professorship in corporate law and finance at the Faculty of Law of Queen's University, said he was surprised that TFI had announced the move before speaking to shareholders, such as CDPQ, which has a four per cent stake in the company. CDPQ is particularly sensitive, he said, because it has a mandate of promoting business in Quebec and has a well-established history of pushing to keep head offices in the province. For example, when American private equity firm TPG bought a majority stake in Cirque du Soleil in 2015, Yalden said the CDPQ took a firm stance calling for the entertainment company's international headquarters to remain in Montreal. In 2013, CDPQ was also involved in the decision that Atrium Innovations Inc. kept its headquarters in Quebec when it was acquired by global investing firm Permira Holdings Limited and a group of Quebec investors. TFI's decision to redomicile would likely have drawn a reaction even without the wave of patriotism surging through the country in reaction to the threat of tariffs from the United States, Yalden said. 'This conversation has been going on in Quebec for a long time,' he said. 'The Caisse would have reacted like this no matter what.' Richard Leblanc, professor of governance, law and ethics at York University, said that a company would typically consult their major investors before making any significant transactions or moves. Although TFI attributed its initial plans to move to the U.S. to its larger American shareholder base and the fact that 70 per cent of its operations are now south of the border, Leblanc said it's important to note that one shareholder doesn't receive more precedence over another. He said this is 'a teachable moment' for many Canadian companies. 'I think what has been shown with the reversal of this company, is that you don't want to come out of the gate prematurely and commit to a particular course of action … before the politics have played out.' While U.S. President Donald Trump said Monday he will be moving forward with 25 per cent tariffs on most imports from Canada next week, Leblanc said he expects the federal government will provide aid packages to support Canadian industries and companies. A recent report from Desjardins projected that the provinces collectively have the fiscal capacity to deploy about $100 billion to subsidize industries and individuals impacted by the tariffs. Canadian firms urged to think 'carefully' before shifting to US 4 things that would be 'kryptonite' to Trump's tariff threats Leblanc said that it's possible any potential aid could be contingent on companies honouring their contracts with clients, employees and other groups — and remaining in Canada. 'The reputational risk profile for companies has changed because of what is occurring in public order,' he added, explaining that companies that are viewed as succumbing to the interests of Trump risk damaging their reputations amid the 'Buy Canada' movement. • Email: slouis@ Sign in to access your portfolio
Yahoo
29-01-2025
- Yahoo
Arrests made stemming from 2024 Terrebonne Parish drug activity investigation
TERREBONNE PARISH, La. (WGNO) — A 2024 narcotics investigation in Terrebonne Parish led to the arrest of three suspects. In August 2024, Terrebonne Parish Sheriff's Office Narcotics Division agents were alerted of alleged drug activity at a home in the 1300 block of Highway 55. 'Largest fentanyl bust' conducted in St. Tammany Parish Through an investigation, detectives identified 41-year-old Jesse Lablanc as the alleged dealer responsible for receiving large amounts of stolen items used as payment for the distributed narcotics. On Jan. 27 a search warrant was conducted on the home where agents reportedly found: Methamphetamine Heroin Marijuana Prescription-based medication in multiple forms Six firearms Several items of drug paraphernalia linked to distribution activities Close to $2,700 in cash Deputies said Leblanc along with 43-year-old Shaun Pellegrin, 37-year-old Jenee Duplantis, and two other adult occupants were found inside and detained. One rescued after crash involving box truck on Twin Span Additionally, agents said they also found a stolen boat, motor and trailer on the property allegedly linked to a Lafourche Parish victim. The property was returned to the rightful owner and agents continue to work to return other property found. Leblanc was arrested and booked into the Terrebonne Parish Criminal Justice Complex on charges of: Possession of heroin Possession of marijuana Possession of Methamphetamines Possession of a Legend Drug without a prescription Possession of drug paraphernalia Transactions involving proceeds from drug offenses Illegal carrying of a weapon in the presence of CDS Possession of a firearm by Convicted Felon Illegal Possession of stolen things Pellegrin is jailed in Terrebonne Parish on charges of possession of heroin, possession of drug paraphernalia, and outstanding warrants unrelated to the investigation. Duplantis is jailed in Terrebonne Parish on charges of: Possession of heroin Possession of a Legend Drug without a prescription Possession of drug paraphernalia Transactions involving proceeds from drug offenses Illegal carrying of a weapon in the presence of CDS Possession of a firearm by a convicted felon Leblanc and Pellegrin do not have a bond set while Duplantis' bond is set at $88, student financial aid programs will federal funding freeze affect? LOSFA update Florida Republican introduces bill to add Trump to Mount Rushmore Gymnast dies after falling from pole while celebrating Philadelphia Eagles win Lunar New Year: What does the Year of the Snake mean? What is spasmodic dysphonia, the disorder affecting RFK Jr.'s voice? Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
