Fast food – mackaycartoons

Saturday March 4, 2023

March 4, 2023 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Saturday March 4, 2023

Interest rates have skyrocketed. So why hasn’t the rate on your savings account budged?

As anyone with a mortgage can attest, the cost to borrow money has gotten a lot more expensive this year. Banks were swift to pass on the rate hikes the Bank of Canada implemented as part of its aggressive campaign to tame inflation.

May 2, 2020

Variable rate home loans routinely top five per cent right now, more than twice what they were a year ago.

But the same can’t be said of savings accounts, which are not paying out much more today than they were a year ago, when the Bank of Canada’s lending rate was 0.25 per cent — its lowest level on record.

Canada’s five biggest banks offer a basic savings account with a rate paying between 0.01 and 0.035 per cent at the moment. So, if you are saving $1,000 for a year, you could earn a grand total of 10 to 35 cents in interest.

Even their so-called high-interest savings accounts that come with minimum balances and other stipulations all pay less than two per cent on an annualized basis.

CBC News reached out to Royal Bank, TD Bank, CIBC, Scotiabank and the Bank of Montreal this week, asking for an explanation as to why savings account rates seem to be slow to rise while lending rates do not, and all the responses were versions of a similar theme: that their rates are based on a variety of funding costs, and while rates on savings accounts are competitive, customers can often get higher rates with products such as GICs that lock in their money for a longer term.

May 13, 2010

Natasha Macmillan, director of everyday banking with rate comparison website Ratehub.ca, says consumers are keenly aware of that gap between what’s happening to the rates on what they owe versus what they have to save.

“As soon as the Bank of Canada raises their interest rate, we see that being translated immediately on the borrowing side,” she told CBC News in an interview. “But it does take a little bit slower for it to be translated to the high-interest saving side — not quite as quickly [and] not quite at the same rate.”

Natasha Macmillan, director of everyday banking with rate comparison website Ratehub.ca, says consumers are keenly aware of that gap between what’s happening to the rates on what they owe versus what they have to save.

“As soon as the Bank of Canada raises their interest rate, we see that being translated immediately on the borrowing side,” she told CBC News in an interview. “But it does take a little bit slower for it to be translated to the high-interest saving side — not quite as quickly [and] not quite at the same rate.”

That’s not happening today, and there are a few reasons why… (Continued: CBC)

Friday September 11, 2020

September 18, 2020 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday September 11, 2020

WE Charity closing Canadian operations, Kielburgers leaving organization

WE Charity is shuttering its Canadian operations and the group’s founders, Craig and Marc Kielburger, will leave the organization entirely, in a dramatic reversal of fortune for the two brothers.

July 30, 2020

The surprise announcement came Wednesday. In a statement, the charity said it would sell its assets to establish an endowment fund for existing international humanitarian programs and to digitize its education resources in Canada.

The statement attributed the decision to the disruptions caused by the COVID-19pandemic and the continued fallout from its cancelled contract with the federal government to administer a student volunteer program. The agreement to administer the Canada Student Service Grant was first announced in June but was cancelled in July amid growing questions about the group’s connections to Prime Minister Justin Trudeau’s family and his former finance minister.

The controversy has “placed the charity in the middle of political battles and misinformation that a charity is ill-equipped to fight,” the statement said. “As a result, the financial math for the charity’s future is clear.”

July 24, 2020

Rather than preventing further damage, the decision to scuttle the government contract marked only the beginning. In the past two months, the charity’s founders, senior staff and former board chair have all testified before parliamentary committees. The affair has led to ethics investigations into Mr. Trudeau and his ex-colleague Bill Morneau, who resigned in August. It also brought to light questions about the organization’s governance, work environment and unregistered lobbyingof the federal government.

Since winning government in 2015, Mr. Trudeau has regularly attended WE events. On Wednesday, the Prime Minister’s Office said it had no comment on WE’s plans to close its Canadian operations.

In July, the charity announced that it would indefinitely postpone its WE Day events for students, restructure its programs, clarify the roles of its charitable and for-profit arms and conduct an internal review. Less than two months later, it’s taking much more drastic steps.

The double whammy of the pandemic and political firestorm has led to significant financial pressures and a loss of sponsors, the statement said. It also places blame for a lack of future revenue on the continued controversy in Ottawa, which has an indeterminate length. It adds that continuing to operate would consume savings that are “essential to establishing the endowment fund.” (Globe & Mail)

Friday March 3, 2017

March 2, 2017 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Friday March 3, 2017

Subway defends its chicken after CBC Marketplace report

Subway stands behind its chicken.

The sandwich chain is disputing the findings of a CBC Marketplace investigation into fast food chicken. While most of the samples were found to contain close to 100 per cent chicken DNA, Subway sandwiches contained substantially less than the other chains. Tests showed an average of 53.6 per cent chicken DNA for the oven-roasted chicken and 42.8 per cent for the chicken strips.

The story has garnered worldwide attention, and raised questions about how much chicken should be in a chicken sandwich.

Subway says the report was “absolutely false and misleading,” and demanded it be retracted. The Associated Press reported Tuesday that the chain says its sandwiches contain 100 per cent white meat with seasonings, although the ingredient list it provided to CBC News lists soy protein as a component of the company’s chicken.

Marketplace stands by its report and is releasing the Subway test results as well as additional detail about the methodology and investigation. (Continued: CBC News)

Tuesday May 17, 2016

May 16, 2016 by Graeme MacKay

Editorial Cartoon by Graeme MacKay, The Hamilton Spectator – Tuesday May 17, 2016

Wavering on building LRT

Spectator Editorial – Now that the LRT pot is on the front burner at full boil, it would be wise for everyone to take a deep breath.

May 2015 – The LRT waiting game gallery

Yes, it’s disappointing that city council didn’t take the opportunity to render a public display of support at last week’s meeting. They should have. But as our elected representatives, they have a right to express reservations and ask for more information and time. Hopefully putting it off for a week — the matter is back before council in its general issues committee form tomorrow — will give staff the time to provide the requisite information and councillors time to reflect.

But if the matter is deferred again tomorrow, it will be more problematic. Quite simply, the time has come for council to send another clear, unequivocal message to the province: Thanks for the billion dollars, and yes, we will use it to build LRT.

Arguments against LRT these days tend to fall into two categories. It’s not something Hamilton needs now or ever, or it might be something Hamilton needs, but it’s premature.

August 7, 2015

The first argument is the territory occupied by people who simply don’t believe in modern, environmentally sound, economically catalytic public transit. Those of us who support improving and modernizing transit probably aren’t going to convince this crowd. Their minds are closed. They’re the ones who think the HSR in its current form was good enough in the ’70s and ’80s, so it’s good enough for the future, perhaps with a few tweaks around the edges.

April 1, 2016

The other anti-LRT position — that it’s premature — is more interesting and promising. You can make a solid case LRT might be a better fit eight or 10 years on, when the rest of our transit system is still not optimized to get full value from having LRT as a transit fulcrum. But here’s the thing: a billion provincial dollars.

It’s unlikely that any time in the foreseeable future a provincial government is going to believe enough in the transformative potential of LRT that they’re going to put a billion on the table. That’s what we have right now. The money is earmarked for LRT in Hamilton. Not BRT. Not general transit improvements. The province agreed to fund LRT.

We know there are at least two councillors — Chad Collins, who is pushing for a referendum on the issue, and Donna Skelly — who say they will say no to that money. It’s hard to imagine a majority of council will make the same mistake.

Even if the timing isn’t perfect, it is workable. This isn’t entirely about LRT, after all. It’s about efficient, modern transit across the city, with routes, vehicles and schedules effectively integrated to use LRT as the spine of a modern public transit system. No one is asking us to choose LRT over fixing the rest of the system. With or without LRT, we’ll have to do that. This is a $1 billion opportunity Hamilton can’t afford to miss. We’re betting most councillors know that. (Source: Hamilton Spectator)