The firestorm faced by Pierre Karl Péladeau at the start of a new political year in Quebec may have left the impression that PKP was finished as Parti Québécois leader. But PKP, while admitting he still has much to learn about politics, is fighting back and seems determined to stay on.

That position is in spite of dissension within his own PQ ranks, a searing evaluation of his business record by Radio-Canada’s flagship Enquête program and PKP’s divorce from Julie Snyder, the star attraction of Péladeau’s TVA network.

When Péladeau launched his political career in 2014, he left the helm of his family’s company, Quebecor Inc., while remaining its controlling shareholder, with a simple plan: win the PQ leadership; win the 2018 Quebec election; and win a new referendum to make Quebec a sovereign country.

What could possibly go wrong?

The PQ leadership choice was a one-horse race, won by Péladeau with almost 58% of the votes cast. None of PKP’s opponents spent more than $100,000 on their campaigns; Péladeau spent $400,000.

Winning power seems unlikely now, with Liberal Premier Philippe Couillard maintaining a steady lead in the polls.

As for independence, Quebecers have experienced two divisive referendums and don’t show signs of wanting another one. In fact, in a tacit admission that the independence option is going nowhere, Péladeau now says his commitment is to the economic development of Quebec.

So far, he has attacked Couillard’s laissez-faire approach to the economy, including the friendly takeover of Quebec-based RONA Inc.’s hardware-store chain by Lowe’s Cos. Inc. of Mooresville, N.C.

Lowe’s made a $1.8-billion hostile bid for RONA in 2012; Quebec’s Liberal government moved to block that transaction. This time, Lowe’s offered $3.2 billion, a 104% premium on RONA’s share price. In accepting that bid, RONA management noted that Lowe’s was gearing up to take on RONA across Canada, so better to be partners than competitors.

Péladeau reminded Couillard and his new economic development minister, Dominique Anglade, that when Montreal-based ventures are acquired by buyers outside the province, Montreal often loses head-office jobs.

For Péladeau, the selling of RONA crosses a red line. He scorned Anglade for not sharing his indignation. Anglade, a rising Liberal star, reminded PKP that Quebec-based companies, such as the drugstore chain Jean Coutu Group Inc., the Couche-Tard Inc. convenience-store chain and Bombardier Inc. make 10 times more acquisitions outside Quebec than do outsiders investing in the province.

Anglade was sworn in as a minister in Couillard’s cabinet shuffle a week before the RONA takeover. Previously, she ran the McKinsey & Co. office in Montreal and was head of Montréal International, an organization that promotes foreign investment.

Anglade, who ran for the Liberals in an autumn byelection, once was president of Quebec’s third party, the right-of-centre Coalition Avenir Québec. Attacking her may prove to be another Péladeau blunder.

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