Six Unions; Only One Contract

Posted by & filed under Financial Accounting, Student life.

Description: Workers at six Starbucks locations in Alberta and British Columbia have formed unions. But so far, only in one store in Victoria has the new union actually reached a collective agreement with management. Until that first contract is in place, union members do not pay dues. It will be interesting to watch ongoing developments… 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 »

A Good Month for Jobs

Posted by & filed under Auditing, Canadian Economy, Student life.

Description: October was a good month for the Canadian economy with 108,000 new jobs added, exceeding projections by a factor of ten. Because more Canadians were actually looking for work last month, the unemployment rate remained steady at 5.2%. Despite the good news on the employment front, a higher number of Canadians report having trouble… Read more »

Tax on Stock Buybacks

Posted by & filed under Financial Reporting and Analysis, Student life.

Description: The federal government is set to introduce a 2% tax on stock buybacks. The government hopes this move will encourage companies to reinvest their profits in order to grow and benefit the Canadian economy, rather than buying back shares with excess cash. Kim Forrest of Bokeh Capital Partners does not believe the 2% penalty… Read more »

Price Freeze

Posted by & filed under Marketing & Strategy, Student life.

Description: Loblaw is freezing its prices on approximately 1,500 store-brand “No Name” products until 31 January 2023. Some experts are labeling the freeze as a publicity move, something to blunt public and political rhetoric around profiteering by grocery giants. Another grocery chain, Metro, followed suit by announcing its own price freeze shortly after Loblaw made… Read more »

Oil Shock

Posted by & filed under Student life.

Description: When Canadians are thinking sticker shock on oil, they are usually thinking about gas prices rising for their automobiles. But if you have been watching your grocery order closely, you may have noticed vegetable oil, a staple supply for the cupboard, has been rising at quite a rate. Statistics Canada data shows a 3… Read more »

Get Ready for Fees

Posted by & filed under Financial Accounting, Student life.

Description: Starting October 6, Canadian merchants are permitted to pass along credit card fees to consumers. In fact, Telus has already announced that it will do so. But retail watcher Bruce Winder said he does not see most restaurants and or retailers passing these fees along, fearing a possible customer backlash in an inflationary environment…. Read more »

Food Insecurity on Campus

Posted by & filed under Student life.

Description: The inflationary trends on food prices have hit students at Canadian universities, where some have had to turn to campus food banks for relief. Erin O’Neill of the University of Alberta’s campus food bank reports that hundreds of students have registered with the program. Mount Royal University faculty produced survey results reporting food insecurity… Read more »