Aropostale bankruptcy and store closures hit one New Mexico mall
The retailer released a list of those 154 store closures,
Posted on 4 May 2016 | 8:35 pm
Path of Philosophy
Posted on 4 May 2016 | 11:00 am
More staff going to help process Syrian refugees: McCallum
Posted on 4 May 2016 | 9:32 pm
Royal Bank of Canada defends practices after being named in Panama Papers leak
Posted on 8 April 2016 | 8:32 pm
Australia's indigenous 'guardians' program finding favour in Ottawa
Posted on 4 May 2016 | 9:47 pm
Vine's Windows 10 app is a great way to watch its short videos
Posted on 4 May 2016 | 9:40 pm
Downtown councillor McKenney angry over unexpected tree-clearing
Posted on 5 May 2016 | 12:44 pm
Federal, Provincial and Territorial Ministers responsible for Emergency Management: Media availability
Posted on 5 May 2016 | 8:03 pm
fMRI and False Positives: A Basic Flaw?
Posted on 5 May 2016 | 6:11 pm
A Se'nnight of Steyn, April 25-May 1
Posted on 1 May 2016 | 2:00 pm
Corporate Welfare Is Bad For National Unity
While much of the focus is rightly on the economic merits (or more accurately, demerits) of corporate welfare, political considerations are inevitably part of the equation. And on this front, two parallel narratives -- neither of which bode well for national unity -- have emerged.
Outside of Quebec, and particularly in western Canada, there is concern that the Trudeau government will cave into demands to hand over money to a company that has perpetually struggled to survive in the marketplace without taxpayer support.
If Ottawa was willing to waste billions of federal tax dollars in Ontario, surely it's only fair to waste billions in Quebec as well.
This would come in an economic context that saw over a 100,000 jobs lost in Alberta in the last year (where an equivalent bailout was neither proposed nor demanded) and growing hostility towards the company in Toronto, which is seething at Bombardier's repeated failure to deliver streetcars (which, it should be noted, are made by an entirely separate division).
Within Quebec, the narrative is that the Trudeau government is beholden to Bay Street in Toronto, and sees a clear double standard insofar as the federal government (under Stephen Harper) helped bail out General Motors and Chrysler in 2009.
Quebec Premier Phillippe Couillard has even noted that Ottawa "lost billions" bankrolling the auto bailout (taxpayers lost $3.7 billion to be exact). But rather than as an argument against repeating such an expensive mistake, Couillard cites it as an argument in favour: if Ottawa was willing to waste billions of federal tax dollars in Ontario, surely it's only fair to waste billions in Quebec as well.
All of this leaves the Trudeau government between a rock and a hard place. They cannot please both camps. But a critical mistake would be to view this decision as a one-off rather than as setting a precedent that will impact Ottawa's ability to respond to similar demands in the future. The question the prime minister and Innovation Minister Navdeep Bains should be asking themselves is: what kind of precedent do we want to set?
Bombardier will be happy for a short while, but as has been the case for the last half century, they will be back for more (and more, and more, and more).
Saying yes to Bombardier would signal that it's business as usual in Ottawa: corporate welfare will continue as it always has, and businesses will know that by dispatching the right lobbyists and telegraphing the right threats ("Those are some nice high-paying jobs you've got there. It'd be a real shame if something were to happen to them!") they can extract cash from Ottawa.
Bombardier will be happy for a short while, but as has been the case for the last half century, they will be back for more (and more, and more, and more). In short, by saying yes to Bombardier, they set themselves up for countless similar scenarios in the future.
Alternatively, they could just say no, and send a dramatically different signal: that this kind of fiscal and economic insanity ends here and now. True, Bombardier and the Quebec government won't be happy. But it will deprive future corporate beggars from coast-to-coast (are there ever any shortage of them?) of a precedent, much like the auto bailout that Quebec and Bombardier are now relying on as justification for their own demands.
Perhaps the most understated evil of corporate welfare in Canada is its ability to exacerbate regional tensions. Governments have limited money to dispense; choices must inevitably be made about which projects in which part of the country receive what amounts and on what conditions. When this happens, discussion of whether such corporate handouts are even a good idea becomes overshadowed by questions of regional fairness.
Corporate welfare teaches companies and regions that what's important is about getting your "fair cut" of "free" money.
This is why Premier Couillard can openly admit the auto bailout was an expensive waste, while simultaneously arguing, with a straight face, that Bombardier deserves the same.
Corporate welfare teaches companies and regions that what's important is about getting your "fair cut" of "free" money. And when your cut isn't perceived as fair, it can turn a wasteful policy into a corrosive, emotional weapon to be used by those with regional grievances.
It is already too late to prevent the Bombardier bailout question from becoming regionally divisive. But the government could at least prevent it from happening again by rejecting the company's request today. If they do, they'll be sparing themselves a dozen similar regional headaches in the future - and saving Canadian taxpayers billions of dollars.
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Posted on 4 May 2016 | 8:57 pm
Saint John mayor enters crowded race for N.B. Tory leadership
Posted on 4 May 2016 | 7:36 pm
The power of choice
Posted on 3 May 2016 | 11:00 am
Bloor bike lanes finally get the go ahead in Toronto
Bike Lanes are finally a reality on Bloor St. After years of campaigns and debate, city council voted 38-3 in favour of a pilot project that will see cycling infrastructure installed between Shaw St. and Avenue Rd. The lanes could be in place by the end of summer.
The cost of the pilot has been pegged at $500,000 (not including lost revenue from removed parking spots). There's no guarantee that the bike lanes will stay in place for the long term, but the pilot is meant to provide the city with the data required to decide whether or not the lanes should be made a permanent fixture of the street.
The possibility of expanding the project to the east and west of the currently approved route is also possible if the initial project is a success.
"If we want to build the city of the future...we have to try some of these things, Mayor John Tory said of the pilot project. "The idea of building a bike lane on Bloor is not a revolutionary idea."
This echoed the sentiments of the majority of council, who seemed comfortable with the idea of the bike lanes precisely because they are being tried out for one year and could be removed should the feedback for local interests be negative.
Toward that end, you can count on this debate to return to city council with even higher stakes at the completion of the pilot.
Photo by Tom Ryaboi.
Posted on 4 May 2016 | 9:05 pm
Oscar De La Hoya calls Donald Trump a golf cheat
De La Hoya calls Trump a golf cheat
Posted on 4 May 2016 | 9:22 pm
Fire crews fight to prevent spread of embers as winds expected to move in
Posted on 4 May 2016 | 9:54 pm
Queen Elizabeth Park to get love locks sculpture
Posted on 4 May 2016 | 9:31 pm
UberX Legalized, Accused in Stabbing Fires her Lawyer, and an Esports Bar
Every weekday’s end, we collect just about everything you ought to care about or ought not to miss. After what seems like months in a City Council meeting yesterday, people who want to use UberX now have a legal and regulated way to do so. The vote was 27-15 in favour of the new regulations. […]
The post UberX Legalized, Accused in Stabbing Fires her Lawyer, and an Esports Bar appeared first on Torontoist.
Posted on 4 May 2016 | 9:02 pm
The Peacock Makes Eye Contact With Its Tail - 2016/04/30 - Pt. 3
Posted on 29 April 2016 | 4:00 am
Donald Trump can beat Hillary Clinton
Posted on 5 May 2016 | 1:00 am
Ten things to know about the 2016-17 Alberta budget
Posted on 4 May 2016 | 1:03 am
Nobody joins a cult, but it is easy to get radicalized
Today: stories about the Palmarian Catholic Church, how easily people get radicalised, and what IS jihadists have in mind for Europe’s cities.
Also: tongue-in-cheek, How do Operating Thetans get in touch with eachother? And is Crossfit a religion?
Finally: Religion News Blog’s new design.
Posted on 28 November 2015 | 5:16 pm
Where Is Post Malone’s Mixtape?
Posted on 4 May 2016 | 9:25 pm
Loblaw prez: Grocery stores should sell medical pot
Weston: Grocery stores should sell pot
Posted on 5 May 2016 | 7:02 pm
How chaos theory explains climate change: Watch Perimeter Institute tackle global warming in a live lecture
Posted on 4 May 2016 | 9:21 pm
Why vultures matter -- and what we lose if they're gone
Vultures. Cartoon characters in parched deserts often wish them to disappear, since circling vultures are a stereotypical harbinger of death. But, joking aside, vultures in some parts of the world are in danger of disappearing. And according to a new report from University of Utah biologists, such a loss would have serious consequences for ecosystems and human populations alike.
Posted on 5 May 2016 | 8:23 pm
NDP will pay full market rent in Toronto building being sold by holding company
Ontario’s New Democrats will be paying full commercial rates for office space at the downtown building now being sold by the party’s union-backed holding company.
But the rent will be paid to the company, Ontario Cornerstone Leadership Corporation, whose shareholders are the NDP and eight unions or their locals.
The rent change comes after terms of the sale by Cornerstone were revised last Friday, altering plans to give the NDP free rent at 101 Richmond St. E for the rest of the year, and a reduced rate until July 2017.
“Once a sale is finalized the party will be charged fair market rent by Cornerstone,” Karla Webber-Gallagher, the NDP’s provincial secretary, said in an email Monday. And Cornerstone will keep the rent money, she said.
The rental arrangement follows a Star report that a previously secret Cornerstone shareholders’ agreement from Sept. 9, 2009 showed the company has a complex corporate entity where the NDP controls all of the Class A common shares. Typically, these shares carry more powers. Eight unions hold Class B shares. The agreement also showed that each union has a seat on the Cornerstone board, the NDP has one seat.
The corporate structure is not illegal. But it appears to challenge past assertions by the NDP that the party had an arm’s-length relationship with Cornerstone. In 2014, Cornerstone guaranteed a $6-million loan for the NDP, which currently has a debt of around $5 million.
As the Star revealed Saturday, Cornerstone is selling the building on Richmond St. to Streetwise Capital Partners Inc. for $3.5 million in a deal set to close June 24. That’s $400,000 more than Cornerstone paid nine years ago.
NDP Leader Andrea Horwath said Monday she’s not in the loop of day-to-day operations at Cornerstone, established more than a decade ago to help the New Democrats raise money and secure loans for election campaigns.
The sale of the building to Streetwise comes as Premier Kathleen Wynne’s Liberals are scrambling to reform Ontario’s lax political fundraising laws, possibly imposing bans on corporate and union donations.
It is possible a ban on contributions from unions would lead to an unravelling of the Cornerstone arrangement. That would put extra financial pressure on the NDP.
But Horwath said the four-storey office is “absolutely not” being sold because of the reforms, which Wynne will introduce later this month.
“Nobody even knows what the new legislation is,” the NDP chief said, noting the party has been looking for new premises for some time.
“There have been problems with that building for many, many years. There are problems with accessibility, there are problems with the roof.”
But Finance Minister Charles Sousa suggested the timing of the real estate deal is curious.
“It’s coincidental — or not — that suddenly they’re trying to unwind the shell corporation,” said Sousa, whose own party announced reforms only after the Star disclosed that ministers had annual fundraising targets of up to $500,000 each.
He accused Horwath of trying to “delay the process” of introducing the fundraising reforms.
The NDP leader said the Liberals are using their majority in the legislature to bring in the reforms without enough input from her, Progressive Conservative Leader Patrick Brown and Green Party Leader Mike Schreiner.
Horwath, who endured Liberal heckling in question period about the Cornerstone controversy, maintained she is “not involved” with the building sale.
Posted on 3 May 2016 | 3:00 am
City of Saskatoon brings free Wi-Fi to several city facilities
Posted on 4 May 2016 | 9:30 pm
China's Journey to the Far Side of the Moon --"Will It Lead to the 1st Radio Telescope Beyond Earth?" (Thursday's Most Popular)
Posted on 5 May 2016 | 3:59 pm
Crocodile eyes are perfect for ambush attacks
Posted on 5 May 2016 | 6:25 am