Description: Online message board site Reddit, with its 70 million users, is planning to “go public” in an initial public offering (IPO). This is despite the fact that Reddit has been a consistent money loser since its launch in 2005, counting up losses of US $90.8 million in 2023 and US $158.6 the year before…. Read more »
Posts Categorized: Financial Reporting and Analysis
Lynx Airlines Shuts Down
Description: Low-cost carrier Lynx Airlines announced it would be shutting down February 26. Lynx informed its passengers travelling on later dates that they should seek refunds through their credit card provider rather than from Lynx. The discount airline got off the ground in 2022, but it blames such forces as inflation, high fuel cost, exchange… Read more »
Heroes to Zeroes
Description: Heroes to Zeroes – that’s the message of the sign carried by Gig Workers United’s Brice Sopher during a demonstration by Uber and Lyft drivers at Toronto’s Nathan Phillips Square, part of a coordinated Valentine’s Day effort in Canada, America, and the United Kingdom. The workers are looking for better wages and benefits following… Read more »
First Netflix; Now Prime
Description: Say “so long” to the good old days of commercial-free viewing on Amazon Prime. The streaming giant announced that starting Monday, clients will start seeing commercials unless they cough up an added fee of $2.99 each month. Bloomberg’s Geetha Ranganathan notes that “It’s very difficult in the streaming world to make money.” This streaming… Read more »
No More Extensions
Description: Prime Minister Justin Trudeau has said that the time is up and there will be no more extensions for those business who had borrowed money under the Canada Emergency Business Account (CEBA). During the Covid-19 lockdown days, the federal government offered eligible businesses and not-for-profit agencies up to $60,000 in loans to help ride… Read more »
Alberta Wants What?
Description: Half of the money in the Canada Pension Plan (CPP); that’s what Alberta wants for what it says is its share of the CPP. Not so fast, say experts. Before Alberta can withdraw it’s share out of the plan – if it even can – other Canadian provinces may have something to say about… Read more »
Falsifying Business Records
Description: One of the biggest news items this past week had to be the indictment of former US president Donald Trump in a New York City courtroom. Though there was lots of debate about the event, from an accounting perspective, the interesting notion is that the charges revolve around the falsification of business records. One… Read more »
Good Times at Dollarama
Description: Inflationary times have been good times for Dollarama. The rising cost of living has driven customers Dollarama’s way in a search of savings, pushing sales figures about 17 percent higher than in the previous fiscal year. Profits are also up, prompting the discount retailer to pump up the quarterly dividend to its shareholders. Date:… Read more »
Canadians Interest Payments up 45%
Description: Canadians are paying 45% more in interest costs than they were last year at this time. With the Bank of Canada raising interest rates to help control inflation, Canadians are facing financial risks unknown to them since the 1990s. The Bank of Canada is keeping an eye on households falling behind on their debt,… Read more »
Corporate Welfare Billions
Description: Several media reported this week on a recent Fraser Institute study on the extent of corporate welfare in Canada. The various business subsidies “come with huge costs to government budgets and taxpayers while doing little if anything to stimulate economic growth,” according to Tegan Hill, a co-author of the report. From 2007 through 2019,… Read more »