Description: Coffee chain Second Cup may be looking for a buyer. It is revising its strategic plan in which it had targeted opening up to 85 new stores by 2018. With sales down 1.2 per cent this year, Second Cup might have trouble meeting an upcoming debt payment. But there are a couple of potential… Read more »
Posts By: Brent White
Westjet: Flying high with low fares
Description: Despite increasing competition from newer low fare airlines such as NewLeaf Travel Co. Inc. and Canada Jetlines Ltd., Westjet Airlines reported third quarter earnings of $116 million this week. Westjet intends to continue its strategy of being a low cost provider in the face of this competition. The airline also noted it is looking… Read more »
Challenging the puppet economy
Description: Last week’s Wiley Weekly Accounting Updates featured a story on job churn: a concept voiced by the Finance Minister Bill Morneau to discuss the world of vanishing permanent jobs. And certainly one cause of job churn has been the so-called gig economy, where businesses like Uber maintain tall those drivers picking up passengers under… Read more »
What do I need to know about job churn?
Description: What do you really need to know about job churn? This concept of job churn sounds a bit unpleasant – and indeed it is. Young Canadians are facing increased job insecurity, with jobs offering any sense of permanency fading from the scene. Part time work and jobs with no benefits are a new normal…. Read more »
How about those co-op placements?
Description: How about those co-op placements? Universities and community colleges have been offering them in various forms as the discussion of experiential learning enters the common vocabulary. Everything isn’t always rosy with co-op placements though. Unpaid service and uncertain legal status may be some of the downsides on these attempts to provide students with practical… Read more »
Gambling on governance at ALC
Description: Cooperation between governments is a good thing. And in Atlantic Canada, the four provinces have cooperated for years as shareholders in one gambling organization, the Atlantic Lottery Corporation (ALC). This week, however, an audit report issued by the four auditors general of the Atlantic provinces concluded that the four provinces need to do a… Read more »
Big cuts at Bombardier
Description: Bombardier announced this week that it’s cutting about 10% of its workforce. This is around 7,500 jobs in total, with about 2,000 or so of those at home here in Canada. CEO Alain Bellemare cited competitive pressures as prompting these cuts. Two-thirds of this latest round of layoffs will hit Bombardier’s rail division. Date:… Read more »
Corporate governance at MEC
Description: Mountain Equipment Co-op (MEC) has responded to concern from its members and scrapped certain criteria it had proposed for its board members. Given its role as a major retailer, MEC wanted board members who had governance or management experience in large and complex organizations. But this upset MEC’s members who appealed to the principle… Read more »
Competition Bureau and Loblaws
Description: The Competition Bureau is running into trouble in its ongoing investigation of Loblaw’s pricing practices. The problem seems to be that Loblaw’s suppliers seem reluctant to talk to the regulator for fear that Loblaws might retaliate against them. One thing the Bureau may be examining is Loblaw’s controversial practice of asking for 1.45 %… Read more »
Finally after seven years
Description: After seven long years, it looks like Nortel pensioners will have a better deal as this bankruptcy saga winds down. While pensioners are probably relieved to see issues settled, it has been a very expensive process. The total for legal and professional services paid out of the Nortel funds is over $2.5 billion, making… Read more »