Editor:
Re: Greed without accountability, Nov. 3 letters
Regarding Frank Sterle Jr.’s letter about “unhinged capitalism” by Loblaws’ CEO and the unethical shareholders that “shrug their shoulders defensively” with no regard to mankind and (gasp!) collect their dividends; I might remind Frank that he is probably one of them.
Loblaws is a public company meaning it is owned by the public.
Stats Can reports that 6.2 million Canadians have an RRSP which own shares in public companies like Loblaws, or indirectly own shares through mutual funds.
As of March 31, 2022 the Canadian Pension Plan owned 38,000 shares of Loblaws Companies Ltd.
The Canadian government invests in profitable companies like this to grow the CPP contributions collected, so they can afford to send out monthly cheques so Canadian citizens are not denied the “basic necessities” Mr. Sterle Jr. mentioned.
After seeing the empty shelves during COVID, I thank God every day for every farmer, truck driver, cattle rancher and, yes, even CEO of a grocery store chain.
Troy Adamson, Surrey
