Outage at Rogers

Posted by & filed under Accounting Principles, Student life.

Description: Last Monday a software problem caused a loss of data and phone service to many customers of Rogers Communications. The loss of service hit customers in all parts of Canada, but Montreal and Southern Ontario appear to have suffered the most. The timing of the outage was particularly relevant for those who may have… Read more »

Divestment from Carbon

Posted by & filed under Accounting Principles, Student life.

Description: Ten years ago a think-tank known as the Carbon Tracker Initiative concluded that the amount of fossil-fuel reserves held by corporations was about five times greater than the amount scientists had concluded the planet could reasonably absorb. The finding, in a sense, paved the path to the divestiture movement. In these last ten years,… Read more »

Air Canada to Offer Refunds

Posted by & filed under Accounting Principles, Student life.

Description: Well, after months of public debate, Air Canada is finally prepared to offer rebates to customers whose travel plans were shelved by the Covid-19 shutdown. This policy change appears to come in the midst of negotiations for some sort of federal bailout for Air Canada in these difficult economic times. Unfortunately, there has not… Read more »

Lithium Recovery

Posted by & filed under Accounting Principles.

Description: E3 Metals Corp. from Calgary is exploring a technique to remove lithium from Alberta’s old oil wells. E3 is testing methods to extract this valuable mineral, a key component in batteries for electric cars. Lithium prices are somewhat volatile, with price gains of 40% in January. With the electric vehicle market experiencing growth, E3’s… 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:  cnet.com  Link: https://www.cnet.com/news/google-parent-company-shutting-down-loon-its-internet-beaming-balloon-project/ Discussion points: 1) Were you aware of… Read more »

Rental Market Switch

Posted by & filed under Accounting Principles, Financial Accounting.

Description: The Toronto rental market is featuring an interesting switch in demand patterns. Younger renters were often prepared to put up with cramped apartments and high rents to live close to the action in the downtown. But with Covid-19 shutting down so much of the city’s social life in restaurants and bars, renters are heading… Read more »

Take Cash – Please

Posted by & filed under Accounting Principles, Internal control.

Description: Business are asking consumers to pay with plastic to reduce contact in face of the COVID-19 virus. The Bank of Canada, however, is urging retailers to continue accepting cash, despite this current climate of social distancing. The Bank does not want to see those who rely on cash unable to transact business for necessary… Read more »

Airline Industry Woes

Posted by & filed under Accounting Principles, Canadian Economy.

Description: Perhaps no industry has been hit harder by the Corona virus than travel and tourism. Flight attendants at Westjet are anticipating layoffs of up to 50% in the face of COVID-19. Things are moving very quickly in this crisis, as earlier in the week the layoff numbers being tossed around were in the order… Read more »

RUTR is Changing

Posted by & filed under Accounting Principles.

Description: Many Canadians love to play that annual Tim Horton’s contest, Roll up the Rim, with its wide assortment of prizes. But this year you’ll only be able to roll up a real cup rim for the first two weeks of the contest. For the remainder of the time, you’ll be expected to bring a… Read more »

Maybe They Didn’t Get the Memo

Posted by & filed under Accounting Principles.

Description: In December the federal government brought in new regulations requiring the airlines to pay up to $1,000 in compensation to travelers hit by they canceled flights, other than for safety reasons of course. But customers are complaining that they haven’t been getting the refunds when they request them, and, further, they also haven’t been… Read more »