Strong Auto Sales

Posted by & filed under Canadian Economy.

Description: In the early part of this Corona virus pandemic, car sales tumbled: No surprise. But then came a different sort of surprise, and the year ended with good news for the auto makers. Despite a 75% crash in the early days of the shutdown, car markets did very well for the year as a… Read more »

Chicken Fight

Posted by & filed under Financial Reporting and Analysis.

Description: The Ontario Court of Appeal has ruled Subway can proceed with its $210 million legal action against the CBC. In a broadcast aired in 2017, CBC’s “Marketplace” stated that genetic tests performed at Trent University concluded that close to 50% of the DNA in Subway’s chicken sandwiches was actually soy DNA. Subway has countered… Read more »

Trial Balloons

Posted by & filed under Accounting Principles.

Description: The trial ballon is coming down. Alphabet’s Loon project of delivering the internet to far-flung areas via technology carried by massive balloons is ending. In the end, the costs were too high and the project was judged as unsustainable. Date:  January 21, 2021 Source:  Link: Discussion points: 1) Were you aware of… Read more »

Will Changes Stick?

Posted by & filed under Student life.

Description: In a provocative headline a CBC story asked “COVID-19 changed how we work. Will it stick?” Out of lock-down necessity, Canada’s economy has seen a high number of work-at-home first-timers over these last several months. Some love it; some don’t. The article concludes quite fittingly “Getting everyone to stay home was relatively simple. Finding a… Read more »

Google Absorbs Fitbit

Posted by & filed under Financial Reporting and Analysis.

Description: Fitbit is now part of the Alphabet/Google empire. This deal first hit the news in the autumn of 2019, but it had to clear a long probe into how Fitbit users’ data might be used to groom custom advertising. This acquisition certainly gives Google a big presence in wearable devices, and a Google executive… Read more »

Pandemic and Workplace Safety

Posted by & filed under Ethics, Managerial Accounting.

Description: Business has been booming at Amazon, but that’s not all good news for the Amazon employees. Tim Bray, a vice-president in the organization left Amazon this past spring, noting that while white-collar employees have excellent work conditions, things are not so nice on the warehouse floor. Workers have been concerned about a lack of… Read more »

December Brings Job Losses

Posted by & filed under Auditing, Student life.

Description: Canada’s economy lost over 60,000 jobs in December. This was the first drop in employment Canada experienced since April, a month when the early days of the Covid crisis hit especially hard. The service sector – not surprisingly given the various public health restrictions – took the largest hit. Date:  January 8, 2021 Source: … Read more »

Big Fine in Tax Case

Posted by & filed under Taxation.

Description: It doesn’t pay to not pay your taxes; at least not in this case. A Halifax hotelier and restaurant owner has been fined $113,223, the same amount as the sales tax he withheld from paying the Canada Revenue Agency (CRA). The businessman, Pantelis Panagiotis Giannoulis, will also have to repay the taxes he failed… Read more »

Musk Now World’s Richest

Posted by & filed under Financial Reporting and Analysis.

Description: Elon Musk has now moved past Jeff Bezos for the number one spot on a list of the richest people in the world. With shares of Tesla climbing towards $800 each, Musk benefited enough to push him into the number one spot. Tesla’s sky-high valuation comes despite the fact that it manufactures far fewer… Read more »

First, Take Wage Subsidy; Second, Pay Dividends

Posted by & filed under Canadian Government, Ethics.

Description: An analysis by CBC of 53 Canadian public companies shows that over half of them have paid out dividends to shareholders while collecting the federal government’s Canada Emergency Wage Subsidy (CEWS). The point of the CEWS was to help these and other companies to keep their staff working while facing the economic crush of… Read more »