Changes at MEC

Posted by & filed under Financial Accounting.

Description: Lots of Canadians love their MEC – the Mountain Equipment Co-op. MEC’s stores and online outlets offer Canadians the opportunity for well-made and reasonably priced sport gear and clothing, as well making many Canadians shareholders of the co-op for a nominal fee. But the model no longer seems to be working well, and after… Read more »

They Want to Pay More Tax?

Posted by & filed under Personal Tax.

Description: This seems like quite a surprise: a group of young and wealthy Canadians wants to pay more in taxes. There are approximately 200 of these Canadians in the so-called Resource Movement, and they are arguing for the government to tax them – and others in the 1% class – with higher rates or new… Read more »

That’s a big IPO

Posted by & filed under IPO's.

Description: It’s the largest tech company Initial Public Offering (IPO) in the history of the TSX. Montreal payment processor Nuvei raised a whopping $700 million on Thursday on the TSX. A large portion of Nuvei’s customers are centered around the sports-betting industry, a growing part of the online world. Date: ¬†September 17, 2020 Source:  cbc.ca… Read more »

What are Canadians Looking for from Business?

Posted by & filed under Corporate Social Responsibility.

Description: Canadians want businesses to change direction, placing more emphasis on stakeholders and less on shareholders. A survey sponsored by the Canadian Centre for the Purpose of the Corporation (CCPC) shows Canadians want more focus on issues of income inequality, the environment, and discrimination. Canadians are interested in working for companies that pursue these important… Read more »

Guitar Sales Rising

Posted by & filed under Financial Accounting.

Description: The corona virus pandemic has certainly been bad news for a lot of businesses. But the guitar industry has seen an impressive uptake in sales during this crisis. Fender says it is heading for a record sales year while Gibson is also enjoying a fine year. Date: ¬†10 September, 2020 Source:¬† iheartradio.ca Link: https://www.iheartradio.ca/news/pandemic-boosts-guitar-sales-report-1.13463103… Read more »

WE to Close Shop

Posted by & filed under Ethics.

Description: Much of the summer news featured the controversy of the federal government’s decision to award a sole-source contract for $43.5 million to the WE charitable group to deliver a student grant program. The backlash over the controversy has cost WE major sponsors such as Telus, RBC, and Virgin Atlantic. All this financial hit has… Read more »

Earth Day at 50

Posted by & filed under Canadian Economy.

Description: April 22 marked the fiftieth anniversary of Earth Day. This year’s celebration did not see the usual events; these gatherings were shut down by the COVID-19 crisis. Swedish activist Greta Thunberg took the opportunity to point out that humanity is now fighting two crises at the same time: COVID-19 and global warming. Date:  April… Read more »

Aid for Students

Posted by & filed under Canadian Government, Student life.

Description: On April 22, the Prime Minister announced $9 billion in assistance for students who have found their summer employment options limited, or eliminated outright, by COVID-19. With summer camps shuttered, and traditional opportunities disappearing, students will be eligible to receive $1250 per month. While some will obviously appreciate the government’s action, others may question… Read more »

AIMCo’s Risky Investments

Posted by & filed under Canadian governments.

Description: The Alberta Investment Management Corp. (AIMCo) – the organization that manages the public sector pension funds in the western province – is coming under criticism for investing over $1 billion in the Alberta oil patch. A number of these investments have lost money, with one company collapsing despite a $60 million investment by AIMCo…. Read more »

3 Recessions Already!

Posted by & filed under Accounting Careers.

Description: For those in the early stages of their careers – with birth years of 1980 through 1996 – the COVID-19 virus has introduced them to their third recession. The CBC interviewed three Canadians in this category to get some perspective and advice. One of those interviewed, Jessica Moorhouse, transitioned from an educational background in… Read more »