The Great Pressure Cooker Recall

Posted by & filed under Accounting Principles.

Description: Electronics retailer Best Buy is recalling one million pressure cookers after 17 customers have experienced burns. Best Buy will not provide replacements or refunds if your return the item to the store. Rather, the company insists consumers register online to receive satisfaction. Date:  October 27, 2023 Source:  ctvnews.ca  Link: https://www.ctvnews.ca/business/best-buy-recalls-nearly-1-million-pressure-cookers-after-reports-of-17-burn-injuries-1.6620286 Discussion points: 1) Have… Read more »

Air Canada Trying to Settle

Posted by & filed under Accounting Careers, Financial Accounting, Marketing & Strategy, Student life.

Description: Air Canada has been offering disgruntled customers cash or vouchers to settle their claims for travel interruptions. Thousands of Canadians have taken their disputes with Air Canada to the Canadian Transportation Agency (CTA), piling up a backlog of over 60,000 claims for compensation for disrupted travel and other matters. Air Canada maintains it pays… Read more »

The Exchangeable Cup

Posted by & filed under Accounting Careers, Sustainable Development.

Description: A&W appears to be taking a lead in environmental action by bringing to market an exchangeable beverage container through its new One Cup program. For a small $3 fee, the customers can receive this reusable cup that can be exchanged for a clean one each time they order their favourite A&W beverage. In addition,… Read more »

Crazy Times at London Drugs

Posted by & filed under Internal control, Student life.

Description: According to Clint Mahlman, CEO of pharmacy chain London Drugs, despite a rise in violent shoplifting incidents in Vancouver, the business has no plan to close any stores in the city. “We are at a crisis point in retail,” Mahlman noted. The losses from theft amounts to “tens of millions” per year, and the… Read more »

Beware of “Shrinkflation”

Posted by & filed under Contemporary Business Issues, Ethics, Marketing & Strategy, Student life.

Description: Watch out for “shrinkflation,” that practice of producers shrinking package sizes to compensate for increasing costs. Instead of passing on the increasing costs to the end consumers, these companies shrink the box size. Shrinking packaging causes consumers, like Ellyn Newall of Edmonton, to feel duped. After getting her grocery order home, Ellyn realized Post’s… Read more »

Air Canada Centre Renos

Posted by & filed under Financial Accounting.

Description: If you happen to be one of the fortunate fans to have had a ticket to Wednesday’s NHL season opener for the Leafs and the Habs, you may have noticed the new beer stand where you swipe your way in with a credit card, then AI tracks what you pick up, before charging your… Read more »

Pharmacare Would Cost – and Save?

Posted by & filed under Accounting Careers, Canadian governments, Student life.

Description: According to the Parliamentary Budget Officer (PBO), a national pharmacare program with one single public sector payer would cost taxpayers an additional $11 billion in its first year. Currently, prescription drugs are paid through a variety of government, employer, and citizen contributions, with the total governments’ share at 46% and private insurance companies picking… Read more »

Birkenstock Now Public

Posted by & filed under Financial Accounting, IPO.

Description: Those comfortable Birkenstock sandals have been a favourite of many consumers for years, often symbolizing a counter-culture outfit. The arch-supporting footwear has been made in Germany since 1774, but this past week Birkenstock stock was publicly traded on the New York Stock Exchange for the first time. The initial public offering (IPO) brought in… Read more »

Financial Stress Rising

Posted by & filed under Accounting Careers, Student life.

Description: A survey from the National Payroll Institute finds financial stress is rising among Canadian workers. Thirty-seven percent of those surveyed reported financial stress, with over sixty percent of that group indicating they need to spend their full net pay just to keep even. Meanwhile, thirty percent of those undergoing stress are drawing down savings… Read more »

A 47-Year Mortgage

Posted by & filed under Financial Reporting and Analysis, Student life.

Description: Negative amortization is pushing some Canadian homeowners to longer and longer mortgages. When rising interest rates eat up more and more of a fixed payment from a client, the life of the mortgage gets extended to allow more time to pay off the principal. Homeowner Michael Girard-Courty now finds that only $27 of his… Read more »