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In June of 1990, Martin made his first bid to chair the Liberal Party at its leadership caucus in Calgary.He came in second to Chrétien, a veteran politician with several cabinet posts on his resume by then.

1962–64; European Coal and Steel Community offices, assistant in the legal department; Power Corporation, special assistant to the president, 1965; vice president after 1969; Canada Steamship Lines Ltd., president, 1973, co–owner, 1981–88, owner, 1988—; elected to Canada's House of Commons from the riding of La Salle–Émard, Montreal, Quebec, 1988—; Minister of Finance in the cabinet of Prime Minister Jean Chrétien, November, 1993–June, 2002; elected Liberal Party chair, November, 2003; sworn in as prime minister, December 12, 2003.

Paul Martin fought a long, bitter battle to become head of Canada's Liberal Party that even cost him his post as the country's Finance Minister.

They had to borrow the funds for the purchase, and interest rates were above 20 percent at the time.

On the day that Martin signed the loan papers, a well–known Wall Street analyst predicted that rates might rise as high as 30 percent.

In 1993, Chrétien took the Liberals to a major victory in national elections, and named Martin his new Minister of Finance.

As a federal minister, Martin avoided charges of a possible conflict of interest over his ownership of CSL by handing over the reins of his company to his sons.A lengthy list of scandals was also blackening the Liberals' reputation as well, with members of Chrétien's government linked to apparent backroom deals that proved profitable for them or business associates who had been campaign donors.Internal strife among Liberal Party members intensified in 2000, after Chrétien led the party to a third term in power and continued on as prime minister.Before entering law school, he spent time in Canada's merchant navy and worked in an oil field in the Alberta province.He took a less taxing position at one point with the European Coal and Steel Community in Luxembourg—a forerunner organization of the European Union—in its legal department.Martin belongs to a relatively rare breed in Canadian politics: a political dynasty.He was born in 1938 in Windsor, Ontario, the border city that elected his father, also named Paul Martin, to represent it in Ottawa's House of Commons in 1935.Twice the senior Martin made a bid for the Liberal leadership at party conventions, which could have made him prime minister—in Canadian politics, the party that wins a majority of seats in the legislature forms the mandate, or government—but lost to Lester Pearson in 1958 and Pierre Trudeau a decade later.As a youngster, Martin lived in Windsor but moved to Ottawa with his family, which included a sister, in 1945 when his father became Canada's federal Health and Welfare Minister.Born Paul Edgar Philippe Martin, August 28, 1938, in Windsor, Ontario, Canada; son of Paul Joseph James (a legislator and cabinet official) and Eleanor "Nell" Martin; married Sheila Ann Cowan, 1965; children: Paul, Jamie, David. A., 1962; earned law degree from the University of Toronto, 1965.Merchant seaman and oil–field worker in Alberta, Canada, c.

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