Description: Friday was a tough day for McDonald’s restaurants in several countries as system issues brought business to a standstill. Very early Friday morning Brian Rice, McDonald’s Chief Information Officer, reported the chain “experienced a global technology system outage, which was quickly identified and corrected.” Temporary shutdowns appeared to be required in countries such as… Read more »
Posts Categorized: Financial Accounting
Saltwire Sadness
Description: The Halifax Chronicle Herald is one of Canada’s oldest continuously publishing newspapers, but its future may be in jeopardy following news that its parent company, the Saltwire Network, is seeking creditor protection. Saltwire owes about $94 million, with about one third of that on the books of its largest creditor, Fiera Private Debt. Stephen… Read more »
January Tough Month for Insolvencies
Description: Business insolvencies in January were about double of what they were in January 2023. One factor cited for the problem was the requirement to pay back loans of up to $60,000 under the Canada Emergency Business Account program by January 18. Simon Gaudreault of the Canadian Federation of Independent Business says that “Insolvencies are… Read more »
Does Apple Owe You?
Description: Last week a judge at the British Columbia Supreme Court approved Apple’s offer to pay up to $14.4 million to settle a class-action suit regarding its iPhone 6 and 7. At the heart of the case was a contention that Apple used software updates that deliberately slowed down the old phones once the iPhone… Read more »
Working for Free February 29?
Description: Salaried workers may be wondering if they worked for free on February 29, the leap day. Since those on an annual salary receive the same pay whether the year has 365 days or 366, workers like Rohith Krishnan feel they are missing out for showing up for the extra day. Others, like Annie Boilard,… Read more »
Subway Cuts the Mustard
Description: Subway restaurants in Canada may have given a whole new meaning to the phrase “cut the mustard” as disappointed sandwich consumers are finding their favourite condiment is disappearing from the popular franchise. Dalhousie University’s Sylvain Charlebois notes that demand for the flavourful yellow topping has been declining while other sauces and marinades helped push… Read more »
Tavares and CRA in $8 million dispute
Description: John Tavares, captain of the Toronto Maple Leafs, is suing the Canada Revenue Agency in an $8 million dispute regarding a reassessment of his 2018 income tax return. The essence of the dispute relates to the taxation rate on his $15.25 million signing bonus. Tavares and his advisors believe the bonus should be taxed… Read more »
The Big Owe
Description: The “Big Owe” is a nickname long associated with Montreal’s Olympic Stadium, given its history of cost overruns and other issues. The original retractable roof had been a source of problems, and the stadium has not been available for winter events for quite some time. But now, rather than pursue the option of a… Read more »
We’re #10!
Description: Air Canada ranked tenth – i.e. last – for on-time performance among ten North American airlines. Westjet came in at seventh place, while Delta finished first overall. Industry watcher John Lawford of the Public Interest Advocacy Centre suggested this poor result “would seem to be a good wake up call for Air Canada.” Date:… Read more »
Air Canada Trying to Settle
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 »