The Fracturing of the Irving Empire?

Wow.

The Globe and Mail's business section led today with a story suggesting that the Irving family - New Brunswick's wealthiest - is split over succession plans, and as a result may end up formally splitting up the myriad sections of the company.

The process, which will likely take over a year (and result in lots of work for Bermuda lawyers!), will formally separate forestry from energy, and may also produce a number of junior stand-alone companies.

Here's an idea. Once the legal papers are all signed, take the various components of the Irving Empire public. The resulting I.P.O.s would be larger than the province's budget, and provide regular New Brunswickers with an opportunity to share in the company's wealth.

Of course, this would also make company books public...