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BC Resources Investment Corporation (1979-2007)


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#1 Holden West

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Posted 25 May 2011 - 09:25 PM

Mrs. West just called me; she's helping her friend go through the belongings of her recently deceased father. They opened a trunk and found a stack of investment certificates. She called to ask if I thought they might be valuable. I asked what they said. She said "British Columbia Resources Invest-". That's when I started laughing. Once I picked myself off the floor I told her they probably had less value than an actual piece of paper.

I couldn't remember how this once-proud enterprise fizzled so I looked it up and discovered the last chance to cash in those shares for a few pennies ended four years ago.

Some of you may remember BCRIC (or "Brick") shares. Premier Bennett gave five to each BC citizen--even me, to my amazement. Just think--as a kid you only own toys and clothes--now I owned a piece of the province!

Of course, it was too good to last. If our friend's dad cashed his in as soon as he got them and bought Microsoft or Apple stock instead his family would have been in a much different financial position!

Anyone else here remember them, own them, sell them?
"Beaver, ahoy!""The bridge is like a magnet, attracting both pedestrians and over 30,000 vehicles daily who enjoy the views of Victoria's harbour. The skyline may change, but "Big Blue" as some call it, will always be there."
-City of Victoria website, 2009

#2 D.L.

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Posted 25 May 2011 - 10:59 PM

Collectors items now? A novelty to pass around at a party?

#3 Holden West

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Posted 25 May 2011 - 11:28 PM

For me they represent the peak of optimism in BC. It wasn't long before the mills closed down and the small towns collapsed, the fisheries were in decline, public works were privatized, sold off and closed down. 1979 seemed like an era free from worry about the environment and the long-term economy with an endless supply of logs, fish and minerals. And it's a tangible reminder of the Socred era with its weird blend of right-wing ideology and left-wing policy.
"Beaver, ahoy!""The bridge is like a magnet, attracting both pedestrians and over 30,000 vehicles daily who enjoy the views of Victoria's harbour. The skyline may change, but "Big Blue" as some call it, will always be there."
-City of Victoria website, 2009

#4 Bernard

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Posted 26 May 2011 - 06:13 AM

BRIC was a way for the Socreds to privatize a bunch of government owned mills and such.

I sold my shares at $9 a piece, $45 was a nice piece of change for a 14 year old.

#5 phx

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Posted 26 May 2011 - 09:01 PM

Whaaa?? :o

There goes my retirement savings. :(

#6 AllseeingEye

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Posted 27 May 2011 - 06:13 AM

As a 19 year old heading into college and about $10 to my name, I happily sold my shares to my dad, who no doubt figured he was getting a great deal to pad his stock portfolio. Since I know he still has them somewhere in his basement, gathering dust along with and extensive "O" gauge Lionel train set and countless Elvis and Beatles .45's, no doubt they will become part of an inheritance some day.... :D

 



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