Power Corporation

Strategic Concepts & Mechanics

Strategic PatternFlanking Around Entrenched Giants Identity & CultureLoyalty Bought with Friday Paychecks Relationship LeverageBoard Seats as Reconnaissance Posts Cornerstone MoveSell the Company to Itself — Internal Reverse Takeovers Competitive AdvantageClassified Stock as Control Multiplier Cornerstone MoveFind the Key Man and Close Before Combat Operating PrincipleCash Business Preference from Bus Roots Strategic PatternConcentrated Diversity Over Grab-Bag Portfolios Signature MoveWin Small, Consolidate, Then Leap Geometrically Signature MoveWallpaper-Roll Planning Then Relentless Pressure Cornerstone MoveBuy Cheap Shells, Strip and Reload the Portfolio Operating PrinciplePool-of-Light Negotiation Theater Relationship LeveragePolitical Access Without Political Office Signature MoveDebt as Temporary Tool, Never Permanent Foundation Capital StrategyDividends as Upward Cash Escalator Signature MoveChief of Staff Handles Architecture, Boss Handles Vision Decision FrameworkAcquire Capacity, Never Build in Inflation Signature MovePocket the Stake, Play with Winnings Only Risk DoctrineNo Cross-Pledging of Crown Jewels Signature MoveDeals Hated, Strategy Loved Signature MoveNever Run Out of Cheque-Writing Time Relationship LeverageShare the Pie to Keep the Table Strategic PatternEcho Bay Model Then Surpass It Signature MoveKlosters Mountain as Strategic War Room Identity & CultureRefugee Hunger as Permanent Engine Cornerstone MoveWritten Memo Then Unanimous Sign-Off Identity & CultureReturn to Canada Only With Success Cornerstone MoveBuy Producing Assets at Cycle Bottom, Never Explore Signature MoveTrust Mining Operators Then Stay Away Operating PrincipleFocus as Compensation for Ordinary Talent Cornerstone MoveBorrow Against the Asset to Buy the Asset Decision FrameworkGeopolitical Disruption as Buy Signal Strategic PatternScarcity Premium as Entry Signal Signature MoveControl Without Majority Ownership

Primary Evidence

"company that owned La Presse, Quebec’s most influential French newspaper. Step Four: Gelco paid Peter Thomson the $7.2 million for his Power shares from the $19 million it received from Power. Step Five: The remaining $12 million was applied against Gelco debt."

Source:Rising to Power - Paul Desmarais & Power Corporation

"Mulroney was involved in bringing together Paul Desmarais’s Montreal-based Power Corporation and Barrick to form Barrick Power Gold Corporation, which would test the gold mining opportunities in China. Munk’s long-time colleague Neil MacLachlan was named president of the new company. In November 1994, also with Mulroney’s active involvement, Barrick Power signed letters of intent with China's gold agency, China National Gold Corporation."

Source:The Golden Phoenix : A Biography of Peter Munk

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Appears In Volumes

Rising to Power - Paul Desmarais & Power Corporation The Golden Phoenix : A Biography of Peter Munk