Description: The Globe and Mail categorized it as a “megabrew”. The two largest brewers in the world have combined to form an organization that will account for approximately 1/3 of the beer produced worldwide. Anheuser-Busch announced that is purchasing SAB Miller PLC for about $143 billion. Some maneuvering may be necessary in both the US… Read more »
Posts Categorized: Advanced Accounting
Watching the watchdogs
Description: The Province of New Brunswick certainly seems to have its share of fiscal challenges, after having run deficits for several years. Last week the Province began looking at another cost-cutting measure: reducing the number of independent legislative officers. Legislative officers include the Auditor General and the Ombudsman. New Brunswick has nine of these officers… Read more »
One billion – with a B – for Bombardier
Description: The government of Quebec has promised $1 billion in assistance to Bombardier Inc to help ensure the company’s new C series jet makes it to the marketplace. In exchange for its financial assistance, the government gets 49.5% of the C series jet and a right to buy 9% of Bombardier shares. Some commentators believe… Read more »
Dell buys big
Description: Computer maker Dell is buying in big to the data storage business with a $67 billion takeover of EMC Corp. With the computer market stagnating, this move is seen as one which opens doors for Dell to participate in the expanding market for cloud services. The market’s initial reaction has been lukewarm to this… Read more »
Just an argument between accountants?
Description: This past week the Province of New Brunswick released its financial statements, claiming that its deficit was lower than projected. The big problem though was that the Auditor General, Kim MacPherson, gave the Province a qualified audit opinion for the way it accounted for its so-called shared risk pension funds. And. in somewhat of… Read more »
What’s app doc?
Description: You could call it social media for physicians, or as the Globe and Mail called it, Instagram for doctors. But for a patient in rural Louisiana, Figure 1 Inc, a Canadian startup, could be called a leg saver. By sharing images on Figure 1, doctors were able to spot that the ulcer on the… Read more »
Pension takes off
Description: This past week Air Canada announced that it is raised retierment compensation for its CEO, Calin Rovinescu. The amount of his pension at $791,300 will be close to double its previous amount and is conditional on remaining with the airline for another three years. Unifor, the union that represents the Air Canada customer service… Read more »
Who’s the boss?
Description: Doug McGregor, head of RBC’s capital markets operation, earned $13.25 million in 2014. That’s a pretty fair payday, no doubt. But one of the surprising things about it is that it outstripped the pay of his boss, RBC CEO Dave McKay. According to proxy circulars, at the other Canadian banks pay for their heads… Read more »
More on the Target exit
Description: Documents requested by Target Canada’s suppliers indicate that the retailer began considering winding down in Canada early last fall. Target contacted its Canadian law firm in September to look at various “strategic options.” Target’s suppliers are upset as they believe that Target should have begun reducing orders of inventory – rather than increasing them… Read more »
Selling off Hydro One
Description: Premier Kathleen Wynne has now joined the list of three previous Ontario premiers who have proposed selling of Hydro One, the provincially owned electric utility. With a probable value in excess of $15 billion, Hydro One may be an attractive target for privatization. The Premier sees the funds generated from sale of this Crown… Read more »