Biosteel’s Big Name Creditors

Posted by & filed under Accounting Principles, Marketing & Strategy.

Description: Failed sports drink company Biosteel has left some big-name creditors on the hook. The company owes over $400 million to creditors and its financial problems appear to be linked to its strategy of recruiting expensive professional athletes for its marketing efforts. Several NBA franchises are owed hundreds of thousands of dollars. TSN and Rogers… Read more »

Rat Infested?

Posted by & filed under Accounting Careers, Accounting Principles.

Description: Rat infested: It’s a headline that kind of gets your attention eh! When it comes to a description of our Prime Minister’s official residence, it’s a sad summary statement on the state of a public building. Justin Trudeau has not occupied 24 Sussex, his childhood home, since he was elected in 2015. And his… Read more »

Tough Times at Tupperware

Posted by & filed under Accounting Principles, Student life.

Description: For much of its 77 year history, Tupperware was the go-to storage container for many families putting away leftovers or meeting other food storage needs. The multi-coloured plastic devices were sold by Tupperware’s independent representatives in parties held in customers’ homes. But the in-person sales technique had fallen out of favour in more recent… Read more »

Air Miles Takeover

Posted by & filed under Accounting Principles, Student life.

Description: The Air Miles customer rewards program has been purchased by Bank of Montreal, following financial problems that resulted in Air Miles parent company, LoyaltyOne, entering creditor protection. Losing the Sobeys grocery chain as a program participant in 2022 was a major blow to Air Miles. But a few years earlier, in 2016, Air Miles… Read more »

CES is Back

Posted by & filed under Accounting Principles.

Description: After a couple of “off years” during the pandemic, the giant Consumer Electronics Show (CES) was back in full force in Las Vegas during the first week of January. CES offered lots of previews of what’s coming in electronic gadgets, including an improved touchless kitchen faucet from Moen, a dual-screen laptop by Lenovo, and… Read more »

Insolvencies Up

Posted by & filed under Accounting Principles, Student life.

Description: Insolvencies in Canada were up 22.5% over the same quarter last year. Statistics Canada said this was the largest year-over-year increase in 13 years. During the pandemic, a number of government programs seemed to have helped businesses and consumers to avoid this level of financial difficulty. But the rise of inflation, increasing interest rates,… Read more »

Silence at Sobeys

Posted by & filed under Accounting Careers, Accounting Principles.

Description: Sobeys has gone virtually silent in the face of an apparent data breach last week. Customers at Sobeys and other related Empire Company stores, found themselves unable to process transactions normally. Problems included filling prescriptions at the pharmacy. Another food company, Canada Packers, also had similar problems last week, but it took a different… Read more »

First Union at Amazon

Posted by & filed under Accounting Careers, Accounting Principles.

Description: This past Friday workers at an Amazon warehouse in New York voted in favour of a union, a first for Amazon workers in the United States. The Amazon Labour Union (ALU) garnered roughly 55% of the votes cast. The victory comes on the heels of an unsuccessful bid to unionize another Amazon facility in… Read more »