Description: Elon Musk unloaded another large chunk of his Tesla stock this past week, driving the share price down 16% in a week. Of course, this does not leave investors in a very good mood, and one major investor is calling for Musk to step down as CEO of Tesla. Musk has sold close to… Read more »
Posts Categorized: Student life
Cassettes Anyone?
Description: It may seem a bit strange, but cassettes are now showing up again in music stores. With artists such as Taylor Swift and The Weekend including this retro-form as a medium of distribution for their new offerings, there’s definitely some shelf space opening up for a format once thought to be obsolete. Part of… Read more »
Suncor Keeping Petro-Canada
Description: After shopping around for potential buyers, Suncor has decided to keep, rather than sell, fuel retailer Petro-Canada. Suncor had been seeking a cash purchase price in the range of $3.8 billion to $5.7 billion. Though Petro-Canada has the largest market share in its class in Canada, no buyer was interested in paying the price…. Read more »
Financial Literacy
Description: How financial literate do you feel you are? November was financial literacy month in Canada and some high schools in Canada are adding this important life-skill area to the curriculum. With the economic pressures facing Canadians, and the clear correlation between financial health and mental health, some observers are calling for mandatory financial literacy… Read more »
Questionable Conduct at Laurentian
Description: In a special report on the Laurentian University financial crisis, Ontario Auditor General Bonnie Lysyk showed that senior management at the school erred by declining government assistance and heading straight to bankruptcy. Lysyk found that the Laurentian senior management and board of governors relied on external advisors in opting for the bankruptcy route, rather… Read more »
Six Unions; Only One Contract
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 »
Living Wage at Bike Shop
Description: Cyclesmith, a Halifax bike shop, has been paying all of its 31 full-time employees a “living wage” of at least $23.50 an hour. Andrew Feenstra, the owner of the business, implemented this policy in September 2021, and he has noted its positive impact on employees who no longer have to live paycheque to paycheque…. Read more »
Are Your Classmates’ Cars in Danger?
Description: Zeynel Ari said that the time it took him to walk from a parking lot, into his bank, then back to the lot, was all the time it took for thieves to grab his vehicle. Car theft rings are getting better at their illegal craft, with the number of stolen vehicles in Ontario rising… Read more »
Insolvencies Up
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 »
Tax on Stock Buybacks
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 »