business

Thursday September 28, 2017

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday September 28, 2017

Bombardier hit with 219% duty on sale of jets to Delta Air Lines

OTTAWA—Bombardier’s hopes for breaking into the U.S. commercial aviation market took a massive blow on Tuesday, as the U.S. Department of Commerce proposed a hefty 219 per cent duty on its CSeries jets.

April 4, 2017

The department ruled in a preliminary decision that Bombardier benefited from improper government subsidies, which gave the Montreal-based company an unfair advantage when selling south of the border.

The investigation was sparked by a complaint from U.S. aerospace giant Boeing, after Bombardier secured a deal for up to 125 of its CS100s with Delta Air Lines in April 2016.

The list price for the planes is around $6 billion, but the actual amount of money involved in the deal has not been made public and Boeing alleges Bombardier offered them for much less.

October 13, 2016

The financial penalties aren’t officially due until Bombardier delivers the first CS100 to Delta, which is expected in the spring. They could also still be dropped or refunded.

The key will be whether the U.S. International Trade Commissions finds that Bombardier-Delta deal actually hurt Boeing’s business, a decision that’s not expected until the spring. (Source: Toronto Star) 

 

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Thursday November 24, 2016

2016-11-24

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday November 24, 2016

Donald Trump Raises Prospect of Keeping Ties to His Firms

Donald Trump indicated Tuesday he was unlikely to disentangle himself from his business empire as fully as he previously suggested, raising questions about potential conflicts of interest while president.

Mr. Trump and his representatives said during the campaign he would have nothing to do with his businesses if he became president, promising a “total and complete separation.”

But since the election, Mr. Trump has met with foreign business partners and involved daughter Ivanka Trump in such discussions, even though he has said his children will run his companies during the presidency as a way to separate their operations from the White House.

On Tuesday, Mr. Trump told the New York Times that “the law’s totally on my side” and that “the president can’t have a conflict of interest.”

Mr. Trump’s comments came after the Republican contended with other concerns overhanging his transition. Trump University disclosed a $25 million settlement Friday resolve litigation involving allegations of fraud at the defunct organization. And Mr. Trump’s charitable foundation said in a tax filing that it had engaged in self-dealing 2015 and prior years that resulted from payments to “disqualified persons,” or foundation insiders.

The president and vice president are exempt from laws that make it a crime for all others working for the executive branch to use their public office for their own enrichment. (Source: Wall Street Journal)

 

Saturday November 12, 2016

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator - Saturday November 12, 2016 Justin Trudeau invites Donald Trump to visit Canada inÊcall that marks 'strong beginning' Prime Minister Justin Trudeau has invited U.S. president-elect Donald Trump to visit Canada "at his earliest opportunity." Trudeau called Trump on Wednesday night to congratulate him on his election victory, and the two discussed "various areas of mutual interest." "It was a brief call, but it was a strong beginning to what is going to be a constructive relationship," Trudeau said during a news conference in Sydney, N.S., this morning. Asked by reporters how he would explain to children that a "sexist, racist, bully" was taking office, Trudeau stressed the need to promote a strong working relationship with anyone whoÊthe American people elect. It's important to work constructively with whomever is president because "that's what Canadians expect," he said. "Canadians expect me to stand up for Canadian rights, Canadian opportunities, Canadian jobs and Canadian values," he said. "And I will do that in a way that continues to do that in aÊway that continues to benefit our country and its position in the world." Trudeau said Trump expressed "warmth" for Canada during the call. It has become a tradition that the first foreign visit by a U.S. president is to Canada. According to the Prime Minister's Office, Trump also extended an invitation for Trudeau to visitÊWashington.Ê No details were provided on when either visit could take place. Trudeau's telephone call came after he met with some of his senior advisers and cabinet ministers, who discussed the tone and approach the prime minister should take in the debutÊmeeting with Trump. (Source: CBC News)Êhttp://www.cbc.ca/news/politics/trudeau-trump-visit-canada-1.3845013 Canada, USA, diplomacy, Donald Trump, Justin Trudeau, business, left, right, economy, environment

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Saturday November 12, 2016

Justin Trudeau invites Donald Trump to visit Canada in call that marks ‘strong beginning’

Prime Minister Justin Trudeau has invited U.S. president-elect Donald Trump to visit Canada “at his earliest opportunity.”

Trudeau called Trump on Wednesday night to congratulate him on his election victory, and the two discussed “various areas of mutual interest.”

“It was a brief call, but it was a strong beginning to what is going to be a constructive relationship,” Trudeau said during a news conference in Sydney, N.S., this morning.

rb-p45_trump-donald_smugAsked by reporters how he would explain to children that a “sexist, racist, bully” was taking office, Trudeau stressed the need to promote a strong working relationship with anyone who the American people elect.

It’s important to work constructively with whomever is president because “that’s what Canadians expect,” he said.

“Canadians expect me to stand up for Canadian rights, Canadian opportunities, Canadian jobs and Canadian values,” he said. “And I will do that in a way that continues to do that in a way that continues to benefit our country and its position in the world.”

Trudeau said Trump expressed “warmth” for Canada during the call.

It has become a tradition that the first foreign visit by a U.S. president is to Canada. According to the Prime Minister’s Office, Trump also extended an invitation for Trudeau to visit Washington.

No details were provided on when either visit could take place.

Trudeau’s telephone call came after he met with some of his senior advisers and cabinet ministers, who discussed the tone and approach the prime minister should take in the debut meeting with Trump. (Source: CBC News)

 

Monday May 2, 2016

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Monday May 2, 2016

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator Ð Monday May 2, 2016 Get ready for Ôpop-upÕ patios on HamiltonÕs streets this summer Are HamiltonÕs commercial areas ready for Òpop-upÓ patios on parking lots? Hamilton politicians approved a motion at their April 27 council meeting requesting staff to examine a pilot program that would allow local businesses or BIAs to establish temporary, seasonal patios and seating areas using on-street parking spaces. The program would begin in 2016. ÒThis is very innovative and non-expensive for the taxpayer,Ó said Mountain councillor Donna Skelly who supported the idea. She said after the reconstruction of Concession Street last year, there are some businesses which would benefit from the extra business by allowing outdoor patios on the street. ÒThis is an opportunity for Concession Street,Ó said Skelly. Mountain councillor Terry Whitehead also supported the motion, introduced by Ward 3 councillor Matthew Green. But he wanted to allow patios for commercial areas that are not in a BIA. Whitehead also insisted that business owners who want to establish patios on the street have the proper insurance. After some squabbling among councillors, WhiteheadÕs amendment was approved by council. Although no councillor opposed the idea, staff will examine if having a patio on the street will impede traffic, impact parking revenues and pose a safety issue. BIAs that could look at the idea includes Stoney Creek, Concession Street, Ottawa Street, Lock Street, Waterdown, and Ancaster. So-called Òpop-upÓ patios have proved popular in New York City, Toronto, Orillia, and St. Catharines, where that cityÕs council approved it in 2012. A fee of $300 is charged to the business to cover the cost of parking. These patios canÕt serve liquor because of liquor laws involving public sidewalks, and businesses are not allowed to brand the place. Mayor Fred Eisenberger said the motion is another step to increase the ÒvitalityÓ to Hamilto

Get ready for ‘pop-up’ patios on Hamilton’s streets this summer

Are Hamilton’s commercial areas ready for “pop-up” patios on parking lots?

Hamilton politicians approved a motion at their April 27 council meeting requesting staff to examine a pilot program that would allow local businesses or BIAs to establish temporary, seasonal patios and seating areas using on-street parking spaces. The program would begin in 2016.

“This is very innovative and non-expensive for the taxpayer,” said Mountain councillor Donna Skelly who supported the idea.

She said after the reconstruction of Concession Street last year, there are some businesses which would benefit from the extra business by allowing outdoor patios on the street.

“This is an opportunity for Concession Street,” said Skelly.

Mountain councillor Terry Whitehead also supported the motion, introduced by Ward 3 councillor Matthew Green. But he wanted to allow patios for commercial areas that are not in a BIA. Whitehead also insisted that business owners who want to establish patios on the street have the proper insurance.

After some squabbling among councillors, Whitehead’s amendment was approved by council.

Although no councillor opposed the idea, staff will examine if having a patio on the street will impede traffic, impact parking revenues and pose a safety issue.

BIAs that could look at the idea includes Stoney Creek, Concession Street, Ottawa Street, Lock Street, Waterdown, and Ancaster.

So-called “pop-up” patios have proved popular in New York City, Toronto, Orillia, and St. Catharines, where that city’s council approved it in 2012. A fee of $300 is charged to the business to cover the cost of parking.

These patios can’t serve liquor because of liquor laws involving public sidewalks, and businesses are not allowed to brand the place.

Mayor Fred Eisenberger said the motion is another step to increase the “vitality” to Hamilton’s streets. Another barrier that restaurants have that council should consider lifting is the city has banned music being played in patios. He compared the patio music bylaw to the city’s ban on tobogganing. Council this winter season allowed tobogganing in certain areas of the city for the first time. (Source: Hamilton Spectator)

 

Thursday February 18, 2016

 

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator Ð Thursday February 18, 2016 Canada to lose 2,830 jobs as Bombardier slashes workforce Bombardier Inc. says it will cut 7,000 positions over the next two years including 2,000 contractors in both aerospace and train divisions Ð almost 10 per cent of its global work force. Most of the job losses will be in Canada and Europe, but will be partly offset by hiring in certain growth areas as production ramps up for the new CSeries aircraft. ÒWe are taking this difficult decision to make Bombardier strong,Ó said Bombardier CEO Alain Bellemare on a conference call with analysts on Wednesday after reporting weak fourth quarter earnings. The Montreal-based aerospace and rail equipment company says the cuts will begin in the coming weeks and be completed by 2017. It was not immediately clear where the job cuts will be, though 2,830 will be in Canada. Of those, 430 will be in Ontario and 2,400 in Quebec. In Canada, 400 jobs will be eliminated in the transportation division and 2,430 in the aerospace division. Transport Minister Marc Garneau says he has mixed feelings about the job cuts and the Air Canada deal. The minister sang the praises of BombardierÕs new aircraft, but he did not immediately commit to helping the troubled company out of its financial difficulties. The Quebec government is putting up $1 billion (U.S.) for a 49.5 per cent stake in the CSeries program, while the Caisse de depots et placement du Quebec, the pension plan, spent $1.5 billion (U.S.) for a 30 per cent stake in the companyÕs train division. Bombardier has asked the federal government to join in with financial assistance for the CSeries, but like Garneau, Navdeep Bains, minister of innovation, science and economic development, said Ottawa is still studying the idea. ÒAny action the government takes with respect to Bombardier will be first and foremost in the interest of Canadians,Ó Bains said in a statement. ÒWe have been clear th

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Thursday February 18, 2016

Canada to lose 2,830 jobs as Bombardier slashes workforce

Bombardier Inc. says it will cut 7,000 positions over the next two years including 2,000 contractors in both aerospace and train divisions – almost 10 per cent of its global work force.

Most of the job losses will be in Canada and Europe, but will be partly offset by hiring in certain growth areas as production ramps up for the new CSeries aircraft.

“We are taking this difficult decision to make Bombardier strong,” said Bombardier CEO Alain Bellemare on a conference call with analysts on Wednesday after reporting weak fourth quarter earnings.

The Montreal-based aerospace and rail equipment company says the cuts will begin in the coming weeks and be completed by 2017.

 

It was not immediately clear where the job cuts will be, though 2,830 will be in Canada. Of those, 430 will be in Ontario and 2,400 in Quebec.

In Canada, 400 jobs will be eliminated in the transportation division and 2,430 in the aerospace division.

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator - Friday February 12, 2016 Trudeau shies away from Liberals' balanced-budget vow, cites fading economy Prime Minister Justin Trudeau is backing away from a campaign vow to balance the public books before the end of his government's four-year mandate Ñ a promise that was central to the Liberal election platform. As a result of a weakening economy, the government's upcoming 2016-17 budget plan will show a deficit larger than the Liberals' promised $10-billion shortfall cap, Trudeau told Montreal's La Presse newspaper. Just how big that deficit will be remains unclear. If the economy continues to deteriorate, it will be difficult for the Liberals to live up to their pledge to balance the books in 2019-20, Trudeau said in an interview published Thursday. Less than two months ago, Trudeau insisted that the Liberal plan to make good on that key balanced-budget promise was "very" cast in stone. The doubts raised by Trudeau offer a glimpse of the fiscal pressure faced by the Finance Department as it crafts the government's first federal budget, expected late next month. "If we look at the growth projections for the next three or four years, it will be difficult (to return to balance)," Trudeau was quoted by La Presse as saying. "But everything we're doing is aimed at creating economic growth. When predicting the level of growth four years in advance, governments often miss the target." During the fall election campaign, Trudeau promised to keep deficits below the $10-billion mark in 2016-17 and 2017-18 unless the economic situation got radically worse. "Yes, we will go over $10 billion," Trudeau told La Presse. "By how much? We are in the process of examining that." In recent months, the Canadian economy has sputtered in large part due to the steep drop in commodity prices. On Wednesday, a National Bank of Canada report said the country's fading economic prospects could put the Liberal government on tra

Friday February 12, 2016

Transport Minister Marc Garneau says he has mixed feelings about the job cuts and the Air Canada deal.

The minister sang the praises of Bombardier’s new aircraft, but he did not immediately commit to helping the troubled company out of its financial difficulties.

The Quebec government is putting up $1 billion (U.S.) for a 49.5 per cent stake in the CSeries program, while the Caisse de depots et placement du Quebec, the pension plan, spent $1.5 billion (U.S.) for a 30 per cent stake in the company’s train division.

Bombardier has asked the federal government to join in with financial assistance for the CSeries, but like Garneau, Navdeep Bains, minister of innovation, science and economic development, said Ottawa is still studying the idea.

“Any action the government takes with respect to Bombardier will be first and foremost in the interest of Canadians,” Bains said in a statement. “We have been clear that such an important decision will only be made after due diligence, careful consideration and a strong business case.”

Bellemare said federal investment is very important because it would provide “a strong endorsement on the program itself.” As well, it would bring additional financial flexibility to support sale campaigns and production. (Source: Toronto Star)

 

SOCIAL MEDIA & OTHER PRESS

Discussion thread on in French on Reddit, and a slightly different tone in the comments also on Reddit.

Ottawa Citizen, February 22, 2016

Ottawa Citizen, February 22, 2016