The outrage

Updates. Some scary.

The Poloz Plop
Will the boss at the Bank of Canada chicken out of a rate increase next Wednesday, even after he read yesterday’s blog? Maybe. As Canada launches a big trade complaint against the States, the word out of Washington is that the Trumpster is about to spike NAFTA – something which has already been communicated to Mr. Socks.

That was enough to knock the loonie back under 80 cents US, and send Government of Canada bond prices skedaddling higher as yields fell and more money migrated into safe places where it could spoon and quiver. Of course, a dead NAFTA is bad news in a country where exports to the US make up 20% of the entire economy.

Well, just a day or two after all the banks came out and said, yeah, fer sure, absolutely, up she goes, American protectionism could change everything. Of course, no rate change would be cheered by a wobbling housing industry and 100,000 realtors. Until they see what happens to jobs.

What the 1%ers Know
So sales of high-end houses tanked in the second half of 2017 in the Big Smoke. Sotheby’s has just revealed a staggering 56% drop in deals worth between $1 and $2 million in the last six months of the year compared to the first six. The more the real estate was worth, the harder it was to move – with a 62% drubbing in the $2-4 million range.

The company somewhat blames a lack of inventory for the drop, but stats show the opposite – more homes $2 million+ hitting the market. So the problem is buyers, not sellers. While condo sales boomed in the GTA (as in Vancouver), detached sales wilted and 1%er houses were absolutely shunned, as that group abandoned real estate.

Does this tell us something? It better. More well-heeled people trying to sell. Fewer wanting to buy. And a lot more wealth going into financial assets. They didn’t get rich being stupid.

Nightmare on Tim Street
When they write the next book on corporate cockups, Timmies will be there. Quel mess this iconic brand has stepped in. Enraged moisters have been Tweeting, Facebooking, Snapchatting and texting their way into a frenzy over ‘greedy’ neighbourhood donut barons and the ‘exploited’ people they employ. As always in war, truth is murdered first.

The issue started with Ontario’s blunt law forcing every small business to jack the minimum wage from $11.60 to $14 now, then $15 next year. Proponents say people need more to live on and paying them any less is exploitation. Critics say government has no right to dictate wages, or raise them so arbitrarily without regard to business conditions and the move will bloat overhead leading to job losses, reduced hours and slashed benefits. Which is exactly what happened. Too bad the poster children for this came to be Ron Joyce Jr. and his Horton wife, family members of the dynasty which founded the donut empire.

They run two franchises in east-end GTA, are small business operators, and decidedly not billionaires. But lost in the social media outrage at their cutting employee benefits was the fact Timmies was sold by the family years ago and this is a story about entrepreneurs vs the government, not oligarchs vs workers.

Anyway, it’s lost. Nobody cares to know that franchisees take a big risk and work a long time to gain rewards without actually owning anything (they just rent a license). Instead it’s the story of a giant chain of profitable stores being too cheap to give its tens of thousands of employees a living wage. However the owner – Restaurant Brands International – does not employ any of those Timmie workers now in peril as their shops are texted to death. Instead, they all work for the people who ‘own’ that location.

So, regardless of which side of this debate you’re on, here are some facts:

To apply for a hard-to-get franchise requires $1.5 million in net worth and $500,000 in liquid assets. The franchise fee is $50,000 and in addition there’s a cash requirement of between $430,000 and $480,000, plus tax. Then you need another $50,000 in working capital.

Of gross sales, which average about $1.5 million a year for an established location, there’s a 4.5% weekly royalty fee, a monthly rental fee average 8.5% of sales (the real estate is owned by the company, not the franchisee) and a monthly marketing fee of 4%. In other words, about a fifth of all revenue goes to head office. Then you start paying regular operating expenses, including ingredients and supplies – which must be purchased from the franchisor at prices which it sets, controls and increases at will. Labour is a giant component, which is why the wage increase has caused an uproar.

The bottom line is that of $1.5 million in gross sales, the net is between $175,000 and $300,000, which is taxable income. To earn that, the franchisee invests a lot of money but doesn’t actually own anything, since the 10-year Tim’s license can be revoked or not renewed. Meanwhile, of course, he has to run a fast-food restaurant which is likely open 18 or 24 hours a day, make grumpy customers happy, clean the bathrooms and find enough employees to keep the doors open.

Glam, it ain’t. But Tim’s operators are the rich ones in an industry where 51% of all restaurant owners make less than $50,000 – sometimes employing wait staff earning more than that in tips.

Well, one thing looks likely. That Joyce kid can kiss any inheritance goodbye.

289 comments ↓

#1 Randy on 01.10.18 at 6:25 pm

You are the Bully and I’m the victim…..Waaaahhhhhh !

#2 the ryguy on 01.10.18 at 6:30 pm

I hope Trump does cut NAFTA. Let all those ridiculous unions crash & burn..then maybe just maybe some people with common sense can start to rebuild.

#3 who cares on 01.10.18 at 6:34 pm

If business is not so profitable owners can shutdown. They should not be extracting blood from workers.

#4 Theo on 01.10.18 at 6:35 pm

Maybe now I won’t have to endure a couple dozen Tims Commercials every time I want to watch a hockey game or curling match.

#5 MF on 01.10.18 at 6:39 pm

#198 Canada 2018 on 01.10.18 at 6:07 pm

“Sideshow Bob a.k.a. SCM and his buddies will run the show from Vancouver to Halifax.”

Nope. There is a silent majority of us older millennials who are busy working 6-7 day weeks, trying to better ourselves, and trying to navigate this world.

As they say,

If you are young and not liberal, you don’t have a heart. If you are older and not conservative, you don’t have a brain.

MF

#6 Karma on 01.10.18 at 6:40 pm

#72 Screwed Canadian Millenial on 01.09.18 at 9:04 pm
“#53 PastThePeak on 01.09.18 at 7:37 pm

God I love how you people do math. Such lying, twisting, SOBs.

First of all what Tim’s has 35 full time employees? NONE.

You got your numbers from some franchise organization and just took their word for it. That’s the thing about you boomers. You always bow to authority don’t you. Without ever questioning anything. You never thought to run the numbers yourself?

Pretty simple.

$2.40 x 40 x 52 = $4992

Add about 7% for CPP and EI. $4992 x 1.07 = $5341.

Nowhere near the 7k you’re claiming.”

Well, tell that to the G&M…

https://www.theglobeandmail.com/report-on-business/by-the-numbers-tim-hortons-franchisees-and-ontarios-minimum-wage-hike/article37553411/

#7 S.Bby on 01.10.18 at 6:42 pm

Based on how it’s described above, running a Tim’s franchise doesn’t sound like too good of an idea to me …

#8 april on 01.10.18 at 6:42 pm

So wondering how much longer this Vancouver condo boom is going to last? B20 or what? For sure some realtors will be here saying it’s going to keep going……up and up but how can anyone believe them.

#9 JSS on 01.10.18 at 6:42 pm

Have to also consider the interest rate on that $1,000,000 business loan, probably around $50,000/year.
Therefore, deducting the interest from the net, drops the net before taxes from $175K-300K to around $125K-$250K, until that loan is repaid. This is equal to a double income professional family.
Don’t quit your day jobs!

Just by the shares of Restaurant Brands International (QSP.UN).

#10 MF on 01.10.18 at 6:43 pm

Lots of older people at my places of employment citing the Tims story. This is not only a millennial issue and also a PR nightmare.

However, it will just blow over. Wynne is going to get obliterated in the next election and a new friendlier government should (hopefully) be more sympathetic to the business owners.

As the leftist news outlets like CBC, Torstar find the next target (maybe Loblaws?) everyone will forget Tims and it’s “business as usual”.

MF

#11 Some Free Advice for SCM on 01.10.18 at 6:43 pm

This is free advice SCM so do with it as you wish. You must average 7 to 10 posts a day on this site. I’m sure you post on other sites as well. You do understand what a waste of productive time that is. My suggestion would be use the time for work, improving your education, or skills. Spending this amount of time on these sites to soap box everybody on your views is foolish. Use the time to improve your own life, then you’ll be in a better position to help others. Way too many of your age group waste their time in similar manner. Get from behind that little box with the keys and start doing something to improve your lot. As I said this is free advice so do with it as you wish. Don’t bother responding to me, just think about the hours you waste a day which could be used for more productive things in your life. Just my two cents.

#12 YVR - 60% crash! on 01.10.18 at 6:46 pm

Let scrap NAFTA. What are you going to do? …. what are you going to do trueDumb?

#13 Long Branch Apprentice on 01.10.18 at 6:47 pm

Tim Horton’s sucks. The food is sub par, the donuts are cardboard and the coffee is drank only because most put a kilo of sugar in it. The franchise is only popular because Canadians are a lazy lot, and most require a caffeine fix in order to be obedient corporate slaves.

If you had to drive more than 15 minutes to get to a Tim’s, you wouldn’t bother scraping the ice off the windshield of your used Toyota Corolla that you plan on paying off next year.

All this talk of minimum wage is exactly what Wynne wants, to distract you from social justice policies (TDSB anyone?), out of control electricity rates and a roughly $300 billion debt that costs more in interest than is spent on post-secondary education.

If you only qualify for minimum wage jobs, then maybe, just maybe, you ought to learn some skills or teach yourself something that the market values more than $15/hr.

There ya go SCM, I’ll take some of the hate from the Boomer crowd from you tonight. ;)

#14 Muttley O'Toole on 01.10.18 at 6:47 pm

What, no puppies?

#15 scooby doo on 01.10.18 at 6:48 pm

The Mrs. and I are friends with a couple who “own” a restaurant east of the GTA. It is a chain-type of restaurant and one that is quite well respected by most folks as far as I know (I won’t bother mentioning the name as it is irrelevant).

Anyway, while they seem to be on decent financial footing now it was not that long ago that they had to cash in all their RRSPs, remortage their modest home and borrow money from relatives to stay afloat–all the while working 12-14 hours seven days a week.

I have not talked to them about the increase in minimum wage–and how they plan to cope with it–but I imagine it might put them, their restaurant and their employees in a precarious position.

#16 -=jwk=- on 01.10.18 at 6:52 pm

RBC is offering me 3.19 fixed for a 5yr extension with zero paperwork. Currently at 2.55, variable. Offer is good until Feb 1st, so just waiting on the announcement at this point…

#17 Newcomer on 01.10.18 at 6:56 pm

Not a shocker that the Timbits are taking it on the chin. With their flair for employee management and public relations, they should probably have picked somewhere else to put their money, like a nice 60/40 balanced portfolio, for example.

#18 Bhad Bhabie on 01.10.18 at 6:57 pm

From today’s Gnat Post

“Hold the sugar hold the cream
Tim Horton’s don’t be mean”

*********
whereda rime at

horton hears a boo

hold the sugar hold the bean
who need tims I gotta machine

his heart colder than regina
put my beans in gaggia brera

fix is simple this dog be barking
make the addicts pay for parking

#19 Screwed Canadian Millenial on 01.10.18 at 6:57 pm

According to Garth’s own analysis, the real issue here isn’t that hard working Canadians are overpaid. They are in fact underpaid.

The real issue here is that franchisees are being raped on royalties by a foreign conglomerate.

#20 crowdedelevatorfartz on 01.10.18 at 6:57 pm

Garth.
How dare you use truth and reason in this arguement.

#21 Lee on 01.10.18 at 6:59 pm

I think you need $1.5 M in net worth of which $500,000 in cash. I am not sure how Timmies does it but your contribution would be way less than $1.5 M – probably closer to $500,000 to $600,000 of your money plus the balance necessary, whatever that might be, on a business loan (which you personally guarantee). Here is the real kicker with most franchises (not sure about how Timmies structures it) : many franchises last a fixed period, say 10-15 years and then you pay again to extend. The extension fee could be substantial. For all intents and purposes your cash investment is gone unless you reserve the right to sell the business to a third party. Also, even $175,000 profit seems rich after factoring in financing costs. Don’t forget the opportunity cost of you cash injection, which you probably never get back. It’s a tough life. It’s not the same as starting your own business which you can sell. The right to sell and get your money out is limited.

#22 I’m stupid on 01.10.18 at 7:02 pm

I’ve never liked Tim’s. They can’t even use real eggs. It says something about food quality when a company prefers to use fake eggs. The only redeeming quality Tim Hortons has is that you can have a fresh coffee at anytime. I personally brew my own coffee, for pennies a cup and no waste. I use premium coffee beans and actually cook real eggs.

Tim Hortons is a sinking ship, they have a revolt on their hands both internally and now externally. I feel sorry for those that invested in this company but that’s the risk you take.

#23 For those about to flop... on 01.10.18 at 7:02 pm

#187 Garthisnotgod on 01.10.18 at 4:43 pm
@#151 For those about to flop

Please read about Lightning network for bitcoin, when it is implemented it can handle 1 million transaction per second. It is the next layer they are implementing over the BTC network. You need to see the roadmap not the current status because VISA has developed over a long time and BTC just started when compared to VISA.

//////////////////////////////

This has happened to me before.

I did not write that piece or pretend to.

I stumbled upon howmuch a couple of years ago after someone on here helped me out with imgur and decided to pay it forward.

They are not as prolific as the boss of this blog and usually do a couple of articles a week and I post them on the blog in quotations and let people enjoy the articles with an ease of explanation as I do with the simple graphics.

As I pointed out to people before if you disagree with the article then click on the link and you can converse with the author.

The one thing we do agree on is that Garth Turner is not God.

But he’s a bloody good guy…

M43BC

https://howmuch.net/articles/crypto-transaction-speeds-compared

#24 Bill on 01.10.18 at 7:03 pm

Tim Hortons is disgusting anyways. Who would eat that crap regardless of this current news item?

#25 DON on 01.10.18 at 7:04 pm

Garth,

Judging by the news headlines – 6 out of 6 Bank economists say it is Time to raise rates…but other headlines seem to be giving Mr. Poloz an out quoting NAFTA and indebted households. Seems to be a hidden message in the news articles. Stuck between a rock and a hard place.

What a state we are in!

#26 Screwed Canadian Millenial on 01.10.18 at 7:04 pm

#6 Karma on 01.10.18 at 6:40 pm
Well, tell that to the G&M…

LOL. You people are so gullible it’s hilarious.

From the article.

“$243,889.10: How much the increase will cost the average Tim Hortons franchisee, according to the Great White North Franchisee Association, a group representing about half of the country’s Tim Hortons franchisees.”

***according to the Great White North Franchisee Association,***

Do you think they might be biased? I swear to god do you people ever think for yourselves? Or do you just do as you’re told by your corporate masters.

#27 crowdedelevatorfartz on 01.10.18 at 7:04 pm

@#188 Simply Put7

Vancouver Mayor Gregor “the Dim” Robertson cited “intensly personal” reasons for not seeking re-election……..

I’m sure the tanking poll results had nothing to do with it…….

#28 crowdedelevatorfartz on 01.10.18 at 7:06 pm

@#19 Screwed Canadian Millenial

The real issue is how you continue to post here.
Do you have nude pictures of Bandit? Garth? Both?

#29 Debtslavecreator on 01.10.18 at 7:06 pm

-Yes timmies owners are greedy SOBs but it’s their right to manage the business they way they see fit
-it’s no ones business what a company pays its employees or its owners /executives
-if it makes you angry then you have the CHOICE to not work there and not shop there and you should take action if your heart is there
-private sector companies issue T4 slips to their employees who pay HST, property taxes and income taxes.Ironically those with the highest effective tax rates at the senior managers / junior executives making 100 k or more per year. Timmies also pays a lot of tax on buying supplies and in the course of their normal business operations which helps private sector suppliers employ workers
-government workers are NOT part of the tax base as 100% of their compensation is taken from taxation
-the largest expense for the typical Canadian middle class salaried family is government taxes/fees by a long shot
-when the government increases taxes it does not give us a choice to pay – you must pay or else lose your assets
-taxes are needed but too high and a growing portion will be consumed to pay interest charges on a horrific amount tvof sovereign /sub sovereign debt taken out by corrupt governments and without direct benefit to the young and unborn who are being robbed to pay it. If you go to a bank and take out a loan in the name of your child and they don’t get direct benefit of the loan and they never consented to the loan that is fraud and the child / young person could get out of it. If under 18 it is automatic but assume the child in this case is of legal age
-you notice how those who are successful /work and or have some money or a successful business are being attacked by these radical left wingers eh ?
– this is the classic divide and conquer that politicians use as socialism collapses. I’m afraid it’s going to get a lot worse
-5 years from now those few lucky to still have any money or success might see a “law” passed making it illegal to make or have more than a very modest amount of money
And of course the government in the extreme can always reset the system and just say too bad it all belongs to us for your benefit of course because they’ll give you “free” health care , education and GBI and heh, maybe marijuana too

#30 What is Real? on 01.10.18 at 7:06 pm

GTA housing has not gone down in value. The average price for GTA detached may have recently gone down, but other housing has gone up. And I doubt that SFD prices have actually gone down either. The mix in this statistic may have changed to include more lower priced units, but that it. People expecting deals on SFD in the near future in the GTA will be very pointed.

#31 Karma on 01.10.18 at 7:07 pm

#3 who cares on 01.10.18 at 6:34 pm
“If business is not so profitable owners can shutdown. They should not be extracting blood from workers.”

And then what happens to the workers? Do they become beggars?

#32 AGuyInVancouver on 01.10.18 at 7:07 pm

Poloz will always choke. Bring back Mark Carney.

As to real estate, Vancouver prices are headed to the stars according to Royal Lepage today:
“Home prices in Metro Vancouver are expected to rise again in 2018, as “exceptionally” low inventory pushes up cost, according to Royal Lepage’s latest market forecast.

The real estate agency’s survey, released Wednesday, says prices increased in the fourth quarter of 2017, and predicts prices will continue to go up by 5.2 per cent by the end of the year…”
http://vancouversun.com/news/local-news/home-prices-in-metro-vancouver-expected-to-rise-in-2018

#33 Screwed Canadian Millenial on 01.10.18 at 7:08 pm

The actual cost of a franchise is about $500,000. Garth had the analysis correct.

I’ve seen a lot of conservatives confused online claiming that $2 million is the franchise fee. They’re getting confused with the net worth requirement.

Here’s the Franchise Information Package.

https://www.timhortons.com/ca/en/pdf/Franchise-Information-Package-en.pdf

Fact of the matter is, any way you want to spin it, these franchisees have been greedy pigs at the trough, stuffing their pockets off the back of hard working Canadians cheap labour. And non-Canadian TFWs too.

I would add that the parent company makes over $600 million a year in PROFIT.

https://finance.google.com/finance?q=TSE%3AQSR&fstype=ii&ei=zKpWWqjAAtW9jAGnx7OwCA

So like I said the real issue here is the franchisees getting raped on royalties and taking it out on their workers.

#34 Eyestrain on 01.10.18 at 7:10 pm

So the franchisees with $1.5 million in liquid assets must be smart because they didn’t get that rich being stupid. But some decided to penalize their workers immediately rather than attempt to negotiate with HQ on pricing. I wish I was rich.

#35 I believe everything on television on 01.10.18 at 7:11 pm

DELETED

#36 What is Real? on 01.10.18 at 7:16 pm

#8 april on 01.10.18 at 6:42 pm

So wondering how much longer this Vancouver condo boom is going to last? B20 or what? For sure some realtors will be here saying it’s going to keep going……up and up but how can anyone believe them.

————————————————————-

What I know is that in the last 10 years, you would have been very stupid to bet against Canadian RE. I see no valid reason to do so in the near future.

#37 Zapstrap on 01.10.18 at 7:18 pm

Tim’s is another of those places where you get fleeced and come out hungry. Along with many others. The thing I can’t figure out is how the Chinese smorgasbord down the street can still charge about $15 loonies and stay in business. Although they are few and far between now.

#38 acdel on 01.10.18 at 7:18 pm

For those of you that are economists or are very familiar with NAFTA including you Garth. If Trump’s decision is to pull out of NAFTA; how badly will it affect Canadian business’s, the economy?

Anybody out there is that well informed as to what the consequences are going to be; please do tell, thank you!

#39 Eyestrain on 01.10.18 at 7:19 pm

correctomundo
1.5 mill in net worth

I still wish I was rich.

#40 Millennial Realist on 01.10.18 at 7:20 pm

So…this picture seems to be suggesting that millennials are garbage….?

An odd sentiment to be presented, given all the kerfuffle here when anyone is accused of even the most glancing criticism of immigrants or foreign investors.

Such a paleo Boomer approach to a changing world…..

I thought it was about man buns. Weird. – Garth

#41 Vince on 01.10.18 at 7:21 pm

Try to find a 1-2 million dollar detached home in a good school district within walking distance to the subway in Toronto. There are maybe 10-15k of those homes. All of those homes sell above ask and in less than a week. There is no inventory in bloor west village, annex, riverdale, kingsway, etc… Things are slower in the burbs, but Toronto is a different story.

#42 Jungle on 01.10.18 at 7:24 pm

I was looking into tims about 8 years ago and recall the entry was 300k ??seems it went up now.

Anyway you pretty much get an amazing turn key operation, really hard to screw up unless your dumb.

Also it used to require husband and wife so they ensured you were suscessful.

Some chains lucked out and made much more than 300 k income depending, on location. They don’t set up shop to see you fail so likely you will succeed.

Anyway this whole debate over cutting staff and taking their tips is greedy and abusive especially since the owners live a good life but work hard. So do the minimum wage workers but I’m sure they don’t have as much.

You do understand parent company has been in stand odd with owners for long time? Relationship is sour and parent company is saying FU to owners by not allowing to increase price to cover cost.

In today’s economy A job of almost guaranteed success and 300k cleaning washrooms, dealing with grumpy people and making donuts , gaze the practally hold your hand and even open the store for you for several weeks, train, etc.

So poor little owners, no one feels bad for the, treating their staff as disposable garbage.

And actually this is like most corporations now which is why it’s better to be a shareholder anyway, working sucks.

#43 Poloz on 01.10.18 at 7:26 pm

NAFTA crashes, Poloz hold on to rates. Then job losses. Polo z hold on to rates. Then in couple of years recessions, central bank all over the world CUT rates. Poloz CUT it too( so called emergency rates) this time all the way to zero.

See where rates are going, oh wait rates goes down real estate goes up. Am I missing something?

#44 Jungle on 01.10.18 at 7:28 pm

Oh I forgot, you are correct, looks like trump is going to pull nafta so Poloz might wait on rate hike.

#45 Linda on 01.10.18 at 7:29 pm

I find it ironic that some posters are complaining about the food quality or lack thereof at Tim’s. It is a fast food chain – what did you expect? You are NOT going to get free range/organic/locavore high end food at any fast food chain that I know of & certainly not for the prices charged for the items served at Tim’s. The only place you might get such food for a reasonable cost is at home, if you take the time & effort to purchase/prepare it. Growing numbers of consumers are learning that the ‘convenience’ of fast food isn’t worth their time or money, let alone the impact to their overall health.

#46 El Joko on 01.10.18 at 7:31 pm

#2

Ridiculous unions? I hope you don’t mean workers/trade unions. Those got shafted pretty hard by NAFTA.

#47 Tony on 01.10.18 at 7:31 pm

Of course you’re at the mercy of the world spot price and futures price of coffee beans. If the beans go the wrong way (up) that usually results in selling at a big loss or personal bankruptcy. Make a good educated guess on the future of the underlying commodity. I was eating in Subway Submarine today and they have to answer to the increase in the minimum wage… cut the heat down to fifty five degrees. That’s right 55.

If the Bank of Canada rate goes up this January 17th I’m adding to my short position on the Canadian dollar around 3 minutes into the open (09:34am) on the 18th the next day. I sit back and watch the Bank of Canada unload Canadian dollars every time the dollar gets above the 80 cent level.

#48 Terry on 01.10.18 at 7:32 pm

“As Canada launches a big trade complaint against the States, the word out of Washington is that the Trumpster is about to spike NAFTA – something which has already been communicated to Mr. Socks.”

Told ya so! Expect an official NAFTA withdrawal announcement from Mr. Trump shortly. After that it’s in the hands of the U.S. Congress to officially vote to pull out of the NAFTA deal.

#49 broader mind on 01.10.18 at 7:34 pm

Shortly after Tim’s was purchased the new owner genius’s decided they could save money by removing the garbage containers from the drive thru. Now every Tim’s drive thru looks like a garbage dump at the order screen. Looks good on them. It will not take long to drive a fine franchise into the ground. Joyce kid likely knew exactly what he was doing to the unfriendly head office and was likely executing his daddy’s plan.

#50 Tony on 01.10.18 at 7:37 pm

Remember what happened to the Ponderosa steakhouse(s)? You better ask yourself the same question because the exact same thing can happen to the beans (coffee beans).

#51 Rc on 01.10.18 at 7:37 pm

So wages went up %20 probably hurts a bit. But payroll in no way is %100 of expenditure so the real increase is much lower.

Also the attack on the Tim Hortons heirs is unfair. After all Tims sold to Burger King for just 12 billion dollars. So they’re entrepreneurs who likely benefited from a small family loan of a million dollars. An ordinary franchise owner would elicit a bit more sympathy from the angry millennials

#52 ImGonnaBeSick on 01.10.18 at 7:38 pm

Like all these “causes”, this will blow over in a couple weeks. Then the 60,000 can start losing their jobs. On to the next one… SJWs have the attention span of goldfish. Hopefully Pat Brown can start turning Ontario around. Enough is enough…

#53 Tony on 01.10.18 at 7:40 pm

Re: #7 S.Bby on 01.10.18 at 6:42 pm

Judging by the underlying commodity (and future prices of that commodity) it probably is the wrong business and at the wrong time.

#54 bigtowne on 01.10.18 at 7:41 pm

In Ontario 25% of workers earn minimum wage….this minimum wage group is very large and the Liberals are not in any position to ignore this voting block.

Alabama is getting a new auto plant investment from Toyota Mazda.

#55 Catmandeux on 01.10.18 at 7:43 pm

#3 who cares on 01.10.18 at 6:34 pm

If the workers feel that are being taken advantage of, they are free to find employment else where. They are not indentured servants.

#56 Nonplused on 01.10.18 at 7:49 pm

Why would the Joyce kid have to kiss his inheritance goodbye? I am sure the ol’ man understands the situation.

Anyway this sort of thing is going to happen all across the province anywhere that businesses rely on minimum wage workers. Other businesses will just be a lot more subtle about how they implement the changes. Prices will rise and hours will be cut. Many marginal operations will simply go out of business.

What the government has done is artificially alter the supply-demand curve for labor. When you artificially raise the price of something, demand drops. That’s how the market works. If prices rise due to some natural reasons, demand also drops. Rising prices cause demand to drop. There are very few cold hard rules in economics, but the laws of supply and demand are one of them. It is the sole reason alcohol and tobacco is taxed so onerously, the idea being if your raise the price, demand will drop. It is why they are trying to legalize pot, because prices will be higher when it’s taxed than it is now while the gangs are running it under the table.

There is a reason why plumbers get paid more than baristas. You have to go to school and apprentice to develop a large skill set, and since not everybody does that plumbers are in demand. It is even further the case with doctors and engineers so they make even more.

2 factors are naturally driving labor rates down: technology (automation) and population growth. So wages have to fall to the point where it makes sense for a business owner to hire more people rather than buy more touch screens. Artificially raising the wage a business must pay will tend to favor touch screens and whatever other technologies can be purchased until the people who he has still working for them are important enough to him to pay the higher wage. Well guess what? Those folks were already getting paid more!

Most of the people on minimum wage are entry level types, teenagers and students who work part time or new immigrants. Well, guess what? That basement dweller you have living under the stairs is going to have a lot more time to keep current in “World of Warcraft” now because his part time job is going to be phased out.

I suppose it’s going to be good for my daughters though, they both teach camps in the summer and neither of them was at $15/hour yet. However, I am pretty sure the major expense their employers have is labor. Sure, they have some canoes and a van and some Lego, but it takes a lot of people to run the camps. Labor has got to be 50% of the cost or more. So if the cost of labor rises 30%, I have to figure the cost of the camps has to rise 15%. More in the case of a soccer camp where the capital outlay is just a bunch of balls. Will the parents continue to pay the higher costs and just stick it on their HELOC? Or will some decide to scale back on the number of camps? If they scale back, my daughters will be out of work.

My oldest daughter was already getting more than minimum wage because her job is somewhat skilled. She has to have a class 3 driver’s licence and know how to guide kids on the river and back up a trailer and such. But now the minimum is going even higher than she was making. So what happens to her wage now that the first year camp leaders who aren’t allowed to drive the van goes to $15/hour? Will she get $18? Or does it now become disincentivized to bother with the class 3? My guess is instead the camps will be a fraction of their former self as costs go through the roof. Many people use summer camps as a child care solution while their before and after cares are shut down, but these cost increases are likely to directly impact whether people can actually afford to do that. My wife earns about $65,000 a year, but back in the day she spent half of her take home pay on camps during July. We don’t need to do that anymore because she works from home now. But if we did I expect it would be more than half now. For some people it might be more than they make.

So, if you want to know who is going to pay for these higher minimum wages, it’ll be the same as with higher taxes. You will. The cost of everything is going to go up. Once again the government is pandering to voters and appearing just and moral, but you get stuck with the bill, and your basement dweller is going to lose what work they have. It is unavoidable.

Minimum wages have the same effect as unions. Less people working for more money, but the amount of money there is to be passed around does not change. Minimum wage laws, like taxes, do not change how much money there is, only who has it. Some will get more, some will get less.

It is nice to think that businesses are some sort of strange entity that has tons of money just sitting there coming out of the sky that should be redistributed. They don’t. They only have assets and liabilities, they don’t have any money. When you raise the minimum wage, business have to raise prices. So guess who pays for that? You do. There is no other way it can work.

Oh and in an even more sinister fashion, all those prices that must now go up means the HST goes up too! Also, since they didn’t change the personal exemption, minimum wage workers will be paying a lot more in taxes! Now we see the true purpose of the scam. What the government is doing is raising taxes under the veil of some social justice cause, same as what they are trying to do to small businesses.

And you must understand that you will pay for all of it. There is no one else who can. Even if you are on social assistance, you are going to be able to buy 15% less stuff than you used to, so that basement dwellers can buy 15% more and vote liberal or NDP. If you are on social assistance, I hope you have a few extra pounds, because you are going on a diet.

#57 Jack on 01.10.18 at 7:50 pm

Garth, if someone has 1.5 million, why would anyone buy a Tim’s franchise instead of a putting all that money into a diversified portfolio?

After taxes, the net gain from the diversified portfolio would probably be somewhat close to what you could make as a Tim’s owner, and of course you wouldn’t have to work…

#58 james on 01.10.18 at 7:54 pm

Trumpster is about to spike NAFTA – something which has already been communicated to Mr. Socks.
That was enough to knock the loonie back under 80 cents US, and send Government of Canada bond prices skedaddling higher as yields fell and more money migrated into safe places where it could spoon and quiver.
—–

#71 Smoking Man on 01.09.18 at 9:01 pm
Bonds away!!!!

#59 Figmund Sreud on 01.10.18 at 7:54 pm

They run two franchises in east-end GTA, are small business operators, and decidedly not billionaires.
_____________________________________

True, … but their bosses are from Restaurant Brands International – part of investment outfit, 3G Capital. Billionaires, I’m sure, …

TSX:QSR, C$76.65, … up 16.79% 1-year.
NYSE:QSR, U$61.06, … up 23.09% 1-year.

Anyway, … it is pertinent that we pause and critically question what we are told, taught, and made to believe – for nothing that is promoted with such great verve and fanfare by economic elites can be free of misinformation, …

Best,

F.S. – Comox, BC

#60 Bob Dog on 01.10.18 at 7:59 pm

There is more wealth being generated today than any time in human history. Productivity is being increased every day through automation, computerization and global trade. The problem is, all the wealth is being accumulated in the hands of very few. I don’t care how expensive or how much work running a Tim Hortons is. The money is going somewhere. Stores close in Vancouver daily because inflated rent charged by the landlord swine and REITs. If a Tim Hortons cant afford to pay it workers then pay less rent.

The greedy 1% are making the same mistakes made in the past. I can only hope it ends with guillotines.

“All for ourselves, and nothing for other people, seems, in every age of the world, to have been the vile maxim of the masters of mankind.”

#61 Gulf Breeze on 01.10.18 at 8:00 pm

If you can’t afford to pay your employees a subsistence wage, you are NOT a viable company. If being ripped off by Restaurants International requires you, as a franchisee rip off your employees, you deserve EXACTLY what you get.

Nobody should be so thick that they ‘buy’ a franchise without factoring in the possibility of a hike in minimum wage. This is not exactly a black swan event.

Entrepreneurs are often hard right Social Darwinists who love the, “only the strong survive,” mantra. Apparently far too many have been blind sided by the hike in minimum wage which, when you think of it, should earn them Darwin Award, for voting themselves right out of the economic gene pool.

#62 BS on 01.10.18 at 8:00 pm

Here is the thing with those Timmies locations that sent out the tacky letter. They actually were paying above minimum wage. The paid days off, benefits and free food can be considered ‘wages’ over and above minimum wage. When the hourly minimum wage got increased drastically they wanted to roll back all the other benefits. Nothing wrong with that but they obviously did it the worst possible way by sending out a tacky letter implying it was the workers fault the minimum wage went up. It wasn’t the Timmies workers fault so why not be nice about it. Have a face to face meeting and explain the situation. They could have offered the benefits as employee paid and then shown the employees would still be much better off with the new wage and paying their own benefits. They could have promised to review in a year. In his case the Timmies owners got what they deserved.

#63 Chimingin on 01.10.18 at 8:01 pm

Boy, the millennials on this site are out for blood! They sound more curmudgeonly than my late granddad, lol! Change the diapers, kiddos. Sounds like you haven’t got much else to do.

Gen X is laughing at you. :)

#64 Danny on 01.10.18 at 8:02 pm

Other coffee places already paid their employees more than minimum wages…..why not Tim Hortons?
It’s time to share the wealth from their Florida get away.

If some businesses don’t have the profits to share maybe those owners have been shafted all along by head office and maybe there are too many too close and maybe the business plan was faulty from the beginning and were doomed to failure from the beginning and maybe many more maybes like other bad business decisions.

Blaming the minimum wage earners may just be …..blaming someone else for someone’s own inexperience or lack of concern by head office at Tim Hortons…that the profit margins were always slim?

Garth
Are there still 3 or more Tim Hortons owned by same person in a tiny place like Orangeville Ontario ? If yes maybe one needs to fail?

After all Trump has failed in businesses many times and declared bankruptcy a few times.
He has no shame or feels like a looser.

Of course, he talks about himself in the 3rd person so often, I wonder if he thinks he is talking about someone else? But then he thinks he is a genius.

#65 Mr. Ed. on 01.10.18 at 8:03 pm

#32 Tony on 01.10.18 at 7:37 pm
Remember what happened to the Ponderosa steakhouse(s)?
**********
What happened? They ran out of horses?

#66 Mean Gene on 01.10.18 at 8:03 pm

Before NAFTA there was the Canada/US freetrade agreement, would we not revert back to that?

#67 Looney Baloney on 01.10.18 at 8:04 pm

Dang. I was just cleared for a TN, dropped the papers at my current employers and was all set to move when Donny drops the hammer on nafta. I better scurry across the border before $hit gets real. Can’t wait to collect my 6 fig pay cheque, bonuses and full benefits in a beautiful small town set among the Rockies, and where a 2000 sqft brand new construction set on 15 acres costs a little over $250k US.

So long blog dogs, and thanks for all the fish. We will consider moving back to Kanata when Trudope is out the door and healthcare will cover a brain transplant for SCM.

#68 common sense on 01.10.18 at 8:05 pm

Why oh why is the public so stupid to blame ALL Tim’s franchisees for the comments of Joyce’s kin?

Did they draw the short end of the straw and speak out to take the heat for every franchise holder? They are what 2 of 1,000’s of owners?

One of the first Tim’s franchises is in my home town….the hard working parents grew their business to include 5 locations and from what I could see, worked 7 days a week for 30 years with their one only vacation being the annual Tim’s franchise owner get a way, 1 or 2 weeks per year. Their only child, who is now 55 took over from them at the age of 20, works just as hard, has been through a few marriages and while wealthy, is as worldly as a dirty soap dish. I’ll take having a balanced life and happy a million times over what that poor kid has sacrificed. He is taking nothing with him when he’s dead….just like his parents.

#69 dakkie on 01.10.18 at 8:06 pm

Could Canadians See A “Sin Tax” On Meat In The Future?

http://investmentwatchblog.com/could-canadians-see-a-sin-tax-on-meat-in-the-future/

#70 conan on 01.10.18 at 8:10 pm

“word out of Washington is that the Trumpster is about to spike NAFTA .” -Garth

Pffft Trump’s Waterloo. How many of the States list Canada as their number one trading partner?

Answer: Not Chicken Feed, and they are all going to be pissed. Especially the voters.

Not getting why you feel nothing for home buyers who overpaid for their homes, but you are all “Young and the Restless” for the Timmies franchise owners.

#71 T on 01.10.18 at 8:14 pm

#26 Screwed Canadian Millenial on 01.10.18 at 7:04 pm

Do you think they might be biased? I swear to god do you people ever think for yourselves? Or do you just do as you’re told by your corporate masters.

————

They have data to back up their claims.

You have no data, no knowledge, no experience. Yet you keep going on like you do. It’s shameful.

#72 april on 01.10.18 at 8:20 pm

#32 – Has anyone ever know a realtor or real estate industry to say home prices will go down. Never. They can lie all they want because their not held accountable.

#73 non logical on 01.10.18 at 8:25 pm

#56 Nonplused on 01.10.18 at 7:49 pm

Minimum wage laws, like taxes, do not change how much money there is, only who has it. Some will get more, some will get less…
*********

I was working when $1.65 was minimum wage. Back then nobody wrote as much as you do because we wrote on paper. Where did all of today’s money come from? Did the minimum wage workers take it all from the rich?
Were you born yesterday?

#74 SimplyPut7 on 01.10.18 at 8:27 pm

#28 crowdedelevatorfartz on 01.10.18 at 7:06 pm

He or she reminds of Smoking Man in the beginning before he sold his house and decided to relax a bit.

I’m sure if you saw some of his early posts, if they are even still up (DELETED?) from previous years, you would see they are just as brutal.

#75 cry me a river on 01.10.18 at 8:29 pm

The bottom line is that of $1.5 million in gross sales, the net is between $175,000 and $300,000, which is taxable income.

……….

there’s a WAITING list to buy a Tim’s franchise. And they r given to existing owners, whom ALWAYS gobble up the next oppurtunity

license to print money, Garth…serving bloody coffee no less

did you say $300,000 income?…yeah, no kidding there’s a waiting list.

Did you miss the part about the investment and not actually owning anything? – Garth

#76 gb on 01.10.18 at 8:39 pm

“…To apply for a hard-to-get franchise requires $1.5 million in net worth and $500,000 in liquid assets….”

Nah….these franchise owners are not wealthy at all…

Give me a break for goodness sakes Garth.

#77 Screwed Canadian Millennial on 01.10.18 at 8:40 pm

#28 crowdedelevatorfartz on 01.10.18 at 7:06 pm
@#19 Screwed Canadian Millenial

The real issue is how you continue to post here.
Do you have nude pictures of Bandit? Garth? Both?

—————

This isn’t your safe space and please keep your sexual fantasies out of this.

Im on mobile at McDonald’s again. Coffee prices still the same, workers are happy. Cant wait for them to get their first bigger paycheque. They work hard and deserve it. The Tim Hortons down the street looks like they’re hurting. Turns out sh*tting on your own employees is not a great strategy. Their “brand” is crap. Just like their food and coffee.

#78 pay your taxes on 01.10.18 at 8:43 pm

My friend’s wife manages half a dozen locations owned by the same franchisee. One of the locations pulled in 70 grand on Canada day alone. She is well compensated and the owner is wealthy, neither of which are a crime.

The biggest problems aren’t the wage increase, Garth, but what RBI is doing to the franchisees. That’s why they formed an association and are trying to get a better deal for themselves. Tim’s also sponsors many foreign workers to come and staff their stores, at least in the urban centers. RBI has been a complete nightmare for franchisees but it’s a hell of a lot easier to beat up on min wage workers than take on a huge multinational.

#79 Small bus owner on 01.10.18 at 8:44 pm

Raising min wage sounds good on paper, but all it’s gonna do is cause inflation. I have always had our starting wage higher than min wage and have raised rates as workers increased their skill and productivity.

Now all workers who were at 15$ before the increase will expect a raise as well, and so on, and so on, and so on.

A year from now that min wage increase won’t help a damn thing for those people it was supposed to, every thing will just cost a little bit more and everybody’s income tax will increase a little bit more.

And the poor will still be poor!

#80 LivinLarge on 01.10.18 at 8:45 pm

“Nobody cares to know that franchisees take a big risk and work a long time to gain rewards without actually owning anything (they just rent a license).”…but they own a dream and clearly not much else.

There was a time, not too long ago that a Timmies was pretty much a license to print money. Then two things happened that always happen with licenses to print money…saturation and competition.

Timmies also experienced a very common third kick in the pills experienced by franchisees, avarice at HO. 20% off the top for a poor coffee and pastry gig? Bloody ouch. When Timmies corporate was sold they buyer paid an ungodly premium for the goodwill of the day ubiquity of the Timmies following. The new owners like pretty much every new corporate owner, try to recoup their goodwill payment by gouging the franchisees. Unfortunately a franchise is the condo of the free enterprise system.

BTW, the level of thought going into tonight’s comments is so much better than just a werk ago on the same topic.

One of the morales of this Timmies mess might be”If you have the stones and determination to start up and run your own enterprise, maybe stay away from the licenses to print money ones” … they never stay that way. More power to the folks who risk much to start a business but if you have at least $1.5m net worth and $500K free cash, there is a hell of a lot better ways to spend it than buying a franchise that might see another of the same shop opening three blocks away just when you have established a good cashflow. If you really go to sleep nights and wake up mornings wanting to make and sell something that thousands of others are making exactly the same as you then you’re buying an investment and Jebus, it sure doesn’t look like a sure thing to me.

I personally feel compasion for the franchisees but not much sympathy. You bought a hand full of beans because you thought it was magic and then find out that it doesn’t grow a beanstock to riches. If you were wise enough to accumulate the nest egg to buy the franchise then you weren’t wise enough to spend it wisely (hense my lack of sympathy or empathy). There’s just soooo much choice now where to invest $1.5m.

#81 conan on 01.10.18 at 8:52 pm

“However the owner – Restaurant Brands International – does not employ any of those Timmie workers” -Garth

I am not buying that. Reminds me of the time when the bank screwed up my checks. ” Not our problem Mon, we sub contract our checks….”

Restaurant brands needs a lobotomy.

https://www.youtube.com/watch?v=uIEs1hmuFbo

#82 rknusa on 01.10.18 at 8:52 pm

https://www.theglobeandmail.com/report-on-business/rob-commentary/what-toronto-and-vancouver-housing-data-do-and-dont-tell-us/article3762481/

#83 OttawaMike on 01.10.18 at 8:54 pm

On the back of my non Tim Horton’s napkin the math shows that franchisees are taking a big hair cut:
Avg profit=185k
Increase=$6k/month assuming 5 workers/shift for 2 shifts.
Annually= $72k
Franchisee is losing almost 1/2 his profit. That’s a conservative estimate.

Oh well some people buy houses and stocks at their peak, others buy overhyped coffee franchises at the wrong time.
I have never understood Canada’s fascination with the brand other than their low prices.

#84 OttawaMike on 01.10.18 at 8:57 pm

My elderly mother’s friend once owned 2 locations.
She said you had to basically be there all the time or have cameras watching as many of the workers could not handle the complexities of operating a drip coffee maker.

The good workers never stuck around long.

#85 Trocxi on 01.10.18 at 8:59 pm

SCM: Fact of the matter is, any way you want to spin it, these franchisees have been GREEDY PIGS at the trough, stuffing their pockets off the back of hard working Canadians cheap labour. And non-Canadian TFWs too.
———————————————
OK SCM, why not take this debate on even higher level:
I think SCM is a Little Red Pig, misguided thinking (or total lack thereof) of a little , resentful Marxist.

#86 NoName on 01.10.18 at 9:01 pm

#54 bigtowne on 01.10.18 at 7:41 pm
In Ontario 25% of workers earn minimum wage….this minimum wage group is very large and the Liberals are not in any position to ignore this voting block.

Alabama is getting a new auto plant investment from Toyota Mazda.

—-

but not for the reason you think. read

https://www.msn.com/en-us/money/markets/inside-alabamas-auto-jobs-boom-low-wages-little-training-crushed-limbs/ar-BByCt0v

#87 Cto on 01.10.18 at 9:01 pm

It’s pretty clear poloz will find any excuse not to raise interest rates. NAFTA sounds like a perfect excuse. He will use it this quarter and he will use it next quarter and you will use it the quarter after that I’m quite sure! By that time I’m sure he’ll found another excuse. Kick the Can down the road that’s all he knows…

#88 TRUMP on 01.10.18 at 9:07 pm

MAKE CANADA GREAT AGAIN!!!!!

Wait a minute….TRUDEAU IS RUNNING THE SHOW.

Sorry Canada…..Jokes on you!!!

#89 ImGonnaBeSick on 01.10.18 at 9:15 pm

#86 Trocxi – don’t engage. SCM is the very definition on internet troll. He serves no purpose but to annoy and agitate. He requires a nanny state because he is incapable of taking care of himself. He adds nothing to this blog except drivel. Yes, I’ve dared to assume gender…

#90 IHCTD9 on 01.10.18 at 9:16 pm

#85 OttawaMike on 01.10.18 at 8:57 pm
My elderly mother’s friend once owned 2 locations.
She said you had to basically be there all the time or have cameras watching as many of the workers could not handle the complexities of operating a drip coffee maker.

The good workers never stuck around long
————

I have an in law that works at Timmies, and they DO have cameras there watching them work. They’ll get a call because lines are getting too long, or the drive thru is moving too slow!

But, 15.00 under an eye in the sky beats the hell out of shovelling chicken shit out of a barn for 5.00, which is what I did for spending cash eons ago.

#91 SimplyPut7 on 01.10.18 at 9:19 pm

#84 OttawaMike on 01.10.18 at 8:54 pm
#85 OttawaMike on 01.10.18 at 8:57 pm

It sounds like even if you use SCM math of $500,000 (which sounds low SCM – just saying), taking that money and investing it in the stock market would provide similar after-tax net income when you take into account the time, dedication and energy needed to run a small business and manage all of its staff.

I wonder if there are franchisees or would be franchisees who are going to look at this new increase in expenses and say opening a Tim Hortons or other lower profit margin franchises, is just not worth it anymore in Ontario.

#92 Ronaldo on 01.10.18 at 9:19 pm

How the 15.00 minimum wage is affecting franchisees in some U.S. states.

https://www.eater.com/2016/5/9/11438452/fast-food-franchisees-minimum-wage

#93 Pbrasseur on 01.10.18 at 9:33 pm

American protectionism? Could it be that the US is fed-up with Canadian protectionism?

#94 Andrew Woburn on 01.10.18 at 9:33 pm

“If the labour market is as tight as the numbers suggest why do governments need to raise minimum wages?”

“… the record-breaking unemployment rate is clearly not enough to automatically give workers a raise that will elevate their standard of living. Telling business to take care of things by absorbing costs or passing them on is clearly not a solution either. Until we acknowledge both those realities, the needs of both minimum-wage workers and businesses are going to be at odds and the outcomes to the economy are going to be far from what was intended.”

– The labour market’s bargaining power is eroding

https://mail.google.com/mail/ca/u/0/#inbox/160e0cdd891a2667

#95 Expat on 01.10.18 at 9:36 pm

Minimum wage jobs are garbage jobs.

The service industry servants are so poor we are forced to pay higher taxes to subsidize their housing, food, education and transportation.

So you can pay more for a donut or pay more in tax but one way or another you will pay.

And the employers are the ones who benefit from the subsidized servant work force. It does not benefit society to keep their wages suppressed so there is no need to pretend otherwise.

#96 down_boy on 01.10.18 at 9:40 pm

I’m going to lay-off my mine workers and hire kids. They have tiny little hands for scraping ore from the rocks. And they can scuttle through shafts like rodents. End child labour laws. It’s holding back parents from drinking a finer brand of tangleleg.

Hey if they don’t want the work, they can shove off. They’ll be back if the looney drops to 30¢ and by then all the seniority built up as donut hole crew chief will be reassigned to an 16 year old. I don’t care about their loan payments for some useless heightened awareness certificate. Expenses? Start buying generic mac&cheese and if you can’t afford the phone bill, hang up. You know a midshipman could be as young as 13 in the good ol days? I’ve seen how modern twenty somethings work a harrow…not worth a buck an hour. And making coffee is not a job…it’s filigree for ponderers. A real job makes you curse the day you were born.

Robots for government—2018!

#97 I like cookies on 01.10.18 at 9:40 pm

I think it’s time to adopt a limit on this site of two posts per day per person. Maybe you’ll learn to actually condense your thoughts down into something coherent rather than yelling all day from your porches. Or, maybe, get a life.

#98 Expat on 01.10.18 at 9:41 pm

@84 Ottawa Mike: or they raise their prices a bit. Bump it up to bring in an extra $200 a day. I’ve seen how much crap those donut shops sell and what Canadians are willing to pay for it. A few extra pennies for a snack is not a big deal.

#99 TurnerNation on 01.10.18 at 9:43 pm

I see lots of Starbucks Socialist Millenialls out there; With their $1500 Canada Goose or Mooseknuckle jackets; $1500 Iphones; many smokers, too.

#100 OttawaMike on 01.10.18 at 9:46 pm

A few days ago I posted how my daughter’s employer, Metro planned to hire more full time staff.
Here is why:

https://www.baytoday.ca/local-news/opinion-government-changes-to-employment-standards-act-unbelievable-and-unexplainable-810025

#101 Trocxi on 01.10.18 at 9:47 pm

Voice of reason:
https://news.google.ca/news/amp?caurl=http%3A%2F%2Fbusiness.financialpost.com%2Fopinion%2Fjack-mintz-sorry-ontarians-wynnes-wage-hike-is-going-to-penalize-you-all#pt0-280159

#102 Screwed Canadian Millenial on 01.10.18 at 9:47 pm

#86 Trocxi on 01.10.18 at 8:59 pm

Oh yeah I’m such a little Marxist, calling for hard working Canadians to make a paltry $14/hour in a place like Toronto where the average rent is what, $2,000 a month now.

How will those owners ever get by making $300,000 in profits!

How will the parent company ever get by only making $600 million a year in profits!

Such Marxism!

#103 Andrew Woburn on 01.10.18 at 9:49 pm

One of the enduring mysteries about blue collar Americans is that they don’t vote for their obvious economic interests such as the promotion of unions, government health care, reasonable consumer protections etc. You would expect them to vote Democrat but they voted Trump.

“On New Year’s Day, the economist and New York Times columnist Paul Krugman issued a series of tweets in which he proclaimed as follows:

The central fact of US political economy, the source of our exceptionalism, is that lower-income whites vote for politicians who redistribute income upward and weaken the safety net because they think the welfare state is for nonwhites.

and then, a few minutes later:

And by voting against its own interests, the white working class isn’t just making itself poorer, it’s literally killing itself.”

Does this mean that lower class Americans vote to protect their white identity at the expense of their own welfare?

https://www.theguardian.com/commentisfree/2018/jan/10/paul-krugman-mistake-white-working-class-voters-republicans

#104 Wait There on 01.10.18 at 9:51 pm

As soon as the tax reform bill was passed and the news about immediate expensing of new plant machinery. I said NAFTA is going to be gone. The delays on the negotiation was to see how tax reform was to play out….it was all strategized. If tax reform had failed then there would have been serious talks on NAFTA. It’s different now.

Why? Invest in a new plant down south, enjoy similar tax rates and then get the ability to expense that new automated machinery quickly. Why would a corp stay in Canada especially Ontario? The min wage will push existing employees to demand more. No doubt. Higher energy bills, higher transportation cost. This aspect nobody saw coming and it is a game changer when it comes to protectionism. Put up borders and invite companies to enter the USA. Make all conditions favorable. This is not normal protectionism. So the old rules don’t apply.

Earlier during the summer, Trump was testing the waters to see where the USA stood on Nafta. Canada blinked in the first test and they saw who was weaker in this deal. Then we were offered a side deal but we rebuffed the Trump when we said that Mexico was in the deal or no deal. Next, the fall breakdown and then the PM’s trip to China also signaled something else. China would not get in the way of the USA and Canada. If Canada thought that they would bring in a side deal with China to show strength, then they were stupid. China will not get in the way of the USA and Canada. No wonder Canada was given the signal to GO HOME and don’t bother them. China does not want to be implicated against the USA. They need their trade. They are also worried but we go around boasting about rights and gender equality yet at the same time subsidizing Bombardier and the Dairy industry. There will be no tears. The bankers know it and they have been shaking their heads about our current government.
If Nafta goes down, the only time for a potential revisit is if there is a change in government more aligned to the right.
Trump and his cohorts simply do not like lefties. Time will tell but be prepared to see who will melt like snowflakes when the announcement that Trump will be preparing to exit. Trudeau needs to learn how Trump acts. Remember this guy was in show business and probably knows more about real life drama than our PM drama teacher.

Canadian plants will pick up and move. A perfect storm of events set up on both sides of the border.

#105 Walk in another's shoes on 01.10.18 at 9:51 pm

When the cost of supplies go up, what to do business owners do? They have to look for productivity gains, other efficiencies, and sometimes just swallow it, as they don’t have a choice. Yet, when minimum wage, which hasn’t gone up in years, rises, there is this big hue and cry.

Pure capitalism, just like pure socialism doesn’t work and isn’t good for society as a whole. As human beings, we need to provide a minimum level of support to everyone. I often think we all should be forced to walk in another’s shoes every so often. It would open a lot of eyes, change attitudes, policies and empathy all around.

#106 Sean Moore on 01.10.18 at 9:51 pm

Sucks to own (if that’s the correct phrase) a franchise now. Hey, maybe a bunch of people will now go back to actually owing a coffee shop again… And be supported by the locals.

#107 toronto1 on 01.10.18 at 9:58 pm

If Big Orange pulls NAFTA, the consequences are much much greater then a minuscule .25% rate increase………

whats left of manufacturing in GTA (mostly Peel Region, Mississauga and Brampton or Durham region) and Kitchener/Waterloo region is over

lots of small to mid size business already struggling with increased wages, taxes are not in a position to pay duty on their products going to the US- that will equal a massive job losses in those areas and quickly

not looking good for the economy or RE in general for 2018

#108 OttawaMike on 01.10.18 at 9:58 pm

Can we discuss the corporate tax cuts business got?
-1% this year Jan 1st.
Will that not soften the blow somewhat?

Also if we ate experiencing record employment isn’t now the time to fiddle with the wage rates?

#109 Newcomer on 01.10.18 at 10:04 pm

#80 Small bus owner on 01.10.18 at 8:44 pm
Raising min wage sounds good on paper, but all it’s gonna do is cause inflation.
————-

You say that like it’s a bad thing but for the past ten years (the past 25 years in Japan) everyone has been doing whatever they can to kickstart inflation. Inflation is necessary to drive demand and reduce debt. So far, only assets like real estate and stocks have inflated, while wages have stood still. A little inflation that starts with the poorest people having more money in their pockets doesn’t sound like a bad idea.

#110 Trojan House on 01.10.18 at 10:05 pm

Typical millennial thinking getting their man-buns in a knot: Let’s boycott Tim Hortons for their treatment of minimum wage workers! Yeah we’ll stick it to the man!

Of course the only people they are hurting by boycotting Tims is the minimum wage workers themselves. Think about it SCM – if you boycott a business, the business loses money. Losing money means eventually laying people off. If the business loses enough money, it closes. Now where are those low wage workers? That’s right, out of a job and most likely collecting EI and/or welfare.

So go ahead, boycott Tims, a company that employs thousands of people across the country, mostly minimum wage workers.

I really can’t believe the class warfare that is spit out in the comment section here. Mostly coming from SCM who apparently spends most of his time on his mobile phone at McDonalds. Can’t believe he thinks Ronald’s food is any better than Tim’s. Both are horrible and terrible for your health.

#111 Screwed Canadian Millenial on 01.10.18 at 10:05 pm

#92 SimplyPut7 on 01.10.18 at 9:19 pm
It sounds like even if you use SCM math of $500,000 (which sounds low SCM – just saying),

————————–

Lol. This is the same figure Garth used. Ironically, this is also the figure that Tim Hortons uses.

https://www.timhortons.com/ca/en/pdf/Franchise-Information-Package-en.pdf

I am only here to tell the truth. Not to deceive.

#112 OttawaMike on 01.10.18 at 10:06 pm

Can we discuss the corporate tax cuts business got?
-1% this year Jan 1st.
Will that not soften the blow somewhat?

Also if we are experiencing record employment isn’t now the time to fiddle with the wage rates?

#113 akashic record on 01.10.18 at 10:07 pm

“Trudeau earns standing ovation at McMaster University defending $10.5M payout to Omar Khadr”

http://www.cbc.ca/player/play/1134010435508/

#114 Bottoms_Up on 01.10.18 at 10:08 pm

If a Tim’s employs the equivalent of 10 full time workers (assuming only 7.5 hours per day), their cost of wages just went up $65,000 for the year. Makes sense they are cutting where they can. But perhaps a better approach would be to fire a few, and make sure the ones you keep are more efficient.

#115 Ray on 01.10.18 at 10:08 pm

I don’t know why Tim Hortons is so “successful”’ other than being a Canadian cult thing. We are Snowbirds, and on our drive south, we much prefer to buy our coffee at a ‘Loves” or a “Pilot”. You make your own coffee, put whatever you want in it, and if you get it wrong, you only have yourself to blame. At “Timmie’s”, they seem to mess up even a simple order about half the time, and then you have to decide to make a deal out of it , or just suck it up ( pun intended).

#116 Screwed Canadian Millenial on 01.10.18 at 10:17 pm

#72 T on 01.10.18 at 8:14 pm

They have data to back up their claims.

———————-

No they don’t. Why are you lying? They just made up a number and you believe them because you have been trained all your life to be an obedient, compliant little boy who never questions his corporate masters.

I already did the math for you. This isn’t complicated.

$2.40 x 40 x 52 = $4992
Add 11% for CPP, EI, WISB and EHT
$4992 x 1.11 = $5541

That’s the additional cost for a 40 hour a week full time employee working 52 weeks per year.

The only question that remains is how many man-hours does the average Tim Hortons location take to operate.

I can sure as hell guarantee you it’s not the 35 full time employees that that franchise organization claims.

I’ve been in my fair share of Tims locations in my life, and my guess would be 1 or 2 full timers with about 15-20 part timers.

So $5541 x 12 = $66,492 in additional annual costs for 2 full timers and 20 part timers.

Average Tims franchisee makes about $300,000 to $400,000 per year in profit so boohoo they might only make $233,000 to $333,000. They’ve been enriching themselves by suppressing their workers wages for far too long.

https://www.youtube.com/watch?v=cj06ZdtEvG0&feature=youtu.be&t=164

#117 Adrian on 01.10.18 at 10:17 pm

My wife and I run a small restaurant / bar in the GTA. It’s a shitty business, long hours, very little in terms of reward. Let’s remember, Tim’s is a huge success for reasons I don’t fully understand myself. Go anywhere else and you’ll see it’s mostly dead.

Our employees typically make more (base plus tips) than my wife who’s running the place. If she makes more during the busy months, it’s not a lot more, so she also serves customers as much as possible for the extra income.

We had to raise the prices as of new year by about 10-15%. Regular customers did not take it well. Most have abandoned us. In the last couple of weeks the business has not made enough to cover operational costs, not to mention payroll.

I know everyone thinks the grass is greener elsewhere, but I can tell you running your business in Canada isn’t all that. Honestly a lot of the time it’s just not worth it.

I work full time for a large telecom and it’s 100% easier than what my wife has to deal with. She was always ambitious and a go getter so this suits her more, but the risk and reward isn’t stacked in her favor.

Sometimes she just wants to walk away, and at some point she will, but right now we have too much skin in the game.

What I’m trying to say is, this is not a us vs them issue. We all need conditions that can improve our lives, so we can all help each other. Canada doesn’t provide this unfortunately. We’re being set up us against each other, class warfare style.

Taking from one to give to another doesn’t work. If we don’t wake up and start demanding better conditions for everyone, we’re doomed to all stay poor. I came from a communist country and I know what that looks like. We’re all going to be equally miserable.

Before that happens though, we’re going to be long gone.

Sorry for the long post but I’m sick of the class warfare bullshit and need to vent. :)

#118 BillyBob on 01.10.18 at 10:17 pm

#103 Screwed Canadian Millenial on 01.10.18 at 9:47 pm
#86 Trocxi on 01.10.18 at 8:59 pm

Oh yeah I’m such a little Marxist, calling for hard working Canadians to make a paltry $14/hour in a place like Toronto where the average rent is what, $2,000 a month now.

How will those owners ever get by making $300,000 in profits!

How will the parent company ever get by only making $600 million a year in profits!

Such Marxism!

====================================

You really do give away your age and naivety when you express the idea that $300,000 is a lot of money to you.

When I was in my 20’s it was, too. Now, not so much. And for the financial risk taken by the franchise owners, not an impressive return at all.

* * *

#64 Chimingin on 01.10.18 at 8:01 pm
Boy, the millennials on this site are out for blood! They sound more curmudgeonly than my late granddad, lol! Change the diapers, kiddos. Sounds like you haven’t got much else to do.

Gen X is laughing at you. :)

==================================

We most definitely are. Go ahead and fight, Millennials and Boomers. We Gen X’ers will just quietly get on with things while you amuse us. :-)

#119 Bottoms_Up on 01.10.18 at 10:18 pm

#80 Small bus owner on 01.10.18 at 8:44 pm
————————
Instead of increasing the minimum wage they should have increased the personal exemption limit.

#120 Screwed Canadian Millenial on 01.10.18 at 10:18 pm

By the way, I love how obvious conservatives make it that they don’t understand how an economy works.

Why don’t any of you ever factor in that companies will be making more money because workers will have more money in their pockets?

Why? Because conservatives literally have no clue what revenues are.

#121 Doug t on 01.10.18 at 10:22 pm

Let them eat cake

RATM

#122 Bottoms_Up on 01.10.18 at 10:24 pm

#63 BS on 01.10.18 at 8:00 pm
——————-‘
I think they did it intentionally to stir the pot hoping the negative publicity would get RBI to ante up.

#123 mathman on 01.10.18 at 10:25 pm

the real money in Timmies franchises was made 15-30 years ago before massive saturation and basic economics kicked in. Many of those in my experience who bought franchises in the last 5 years saw it as a sure fire path to riches not understanding the economics of the business were in flux – which is hard to see with Rose coloured glasses on.

The old schoolers who own 10+ franchises in established, protected locations are straight balling, some make $$, a few loose but in aggregate they are netting in the 7 figures and hire a well paid manager to run them. The minimum wage impacts the margin for these folks, but it renders the business not viable for those new owners <5 years with one franchise.

excess profits get competed away in all businesses, Tim's is no exception. Used to be 5km between locations in urban centres, then 3, then 2 then 500 meters. Only winner is RBI.

Math

#124 Leo Trollstoy on 01.10.18 at 10:25 pm

Boycott Tims?

Hm. Labour expenses up and revenue down

Ya that’ll help those Tims workers

ROFL

#125 TheSecretCode on 01.10.18 at 10:28 pm

Mayor Moonbeam achieved one thing that most will notice these days: driving in and around Vancouver has never been better – it is dead. They tried to reduce car congestion through various means, parking rates, etc., but the one that worked was goosing RE to make living anywhere in Vancouver not affordable for up and coming people. Talk about a city hollowed out over the past 3 years. The traffic jams are now in Langley and Kelowna BC. Where did that 9% drop in Vancouver population end up?

I guess Moonbeam has other plans than to run for mayor again.

Here is another downtown Vancouver tower being released in Hong Kong. Jan 13 – 14, 2018 – 15 Queens Rd Central Hong Kong.

https://twitter.com/stevesaretsky?lang=en

#126 Wrk.dover on 01.10.18 at 10:29 pm

If I was a big ass CEO earning more before noon than a front line worker earns in a year, I would have pulled my Ontario grade 13 slide rule from my metro sexual man purse that also cost more than a front line worker earns in a year and I would have ciphered out the new menu prices to introduce on Jan 1 2018 in Ontario. It would have included a PR media campaign to introduce it to the public as employee progress.

But I am not that big ass CEO, so it did not happen.

Give the CEO a raise too, shareholders.

#127 Martin on 01.10.18 at 10:30 pm

I’m a lurker since day one, this is my first post. Thank you Grath for shinning the light on what is involved in being a Tim’s franchisee. I’ve been out of school for decades so I don’t know if they teach money and financial risk to kids these days. I wish they did when I was a kid, or at least I wished my parents would have talked to us about money; they didn’t. I learned the hard way once I was out on my own, and I’m still learning.

If more people talked frankly about money (not the how do I get rich quick scheme ), then maybe there would be less outrage.

Again thanks.

#128 TheSecretCode on 01.10.18 at 10:31 pm

This stat is just staggering:

Buyers spent a record high $380M more on Surrey condos in 2017. Double what they did in 2016.

#129 Smoking Man on 01.10.18 at 10:31 pm

And battle rages on.

On one side we have experience and world knowledge the other side filled with venomous creachers trained by communists.

Who will win. The commies eventually wise will die off with the insane taking power.

No matter what side of the debate your on. Learn about Venezuela have an exit strategy and don’t wait too long.

Dr Smoking Man
PhD Herdonomics

#130 Nick on 01.10.18 at 10:35 pm

I find the notion of minimum to be a bit ridiculous. If you are earning minimum wage than it means you aren’t adding much value to the business you work for (no offence). If you provide more value then you will be paid more. I’d say do away with any concept of minimum wage and let free markets work. Increasing the cost of lower value jobs will only push business owners to automate them away. Plus the money to invest in those assets is practically nothing these days thanks to our central bankers 10 years into this “recovery”. You can thank inflation for squeezing peoples wallets and that is primarily due to central bank policies which primarily support our banks.

#131 TheSecretCode on 01.10.18 at 10:36 pm

“I’ve stopped making one for the City of Vancouver because it’s pretty much done,” said Yan, who teaches at SFU’s Cities program.

“What used to be a few cluster – West Vancouver, City of Vancouver, South Surrey and Richmond – has now pretty much taken over the rest of the region,” said Yan.

73 per cent of single-family homes in the Lower Mainland are now valued at over a million dollars per property.

http://www.metronews.ca/news/vancouver/2018/01/08/houses-worth-over-1m-now-the-norm-in-entire-lower-mainland.html

#132 NorthOf49 on 01.10.18 at 10:38 pm

#91 IHCTD9 on 01.10.18 at 9:16 pm

I have an in law that works at Timmies, and they DO have cameras there watching them work. They’ll get a call because lines are getting too long, or the drive thru is moving too slow!
—————————————————————

Yes, this was the same at the Tim’s where my 17-yr-old son worked part-time. At least once a shift the owner would call and chew out the staff while watching the cameras from home. Loved that she would roll up in her Land Rover while my son was working the oven in the back. The harder they worked him the more I knew it was drilling home that he needed to continue his education, because slacker boy wasn’t sure whether going to university was “worth it”. The best was when she called the store from Florida to bawl out the staff, ha ha!

#133 TheSecretCode on 01.10.18 at 10:42 pm

Amazing progress here:

Eby said casinos who receive gamblers with bags of cash now have to verify the cash comes from a legitimate source before accepting the transaction.

What a joke.

Get ready for the big report in March. Probably more studying of the subject thereafter.

#134 People are Strange on 01.10.18 at 10:44 pm

#30

People just don’t learn from history. Simple economics; the shyster speckers and real estate agents think this can keep going as is. They need the average family income to be able to afford it to keep the wave going. Unless they see 10 % raises in family income per yr over the next five yrs, the general public will stay away from this crazed market. Throw in the fact baby boomers are going to want to sell the empty nests, coupled with 57,000 units being added this year alone, supply is going to skyrocket.
Five yrs from now, there will be lots of RE available. And only then, after people start buying again, the prices may start to trough. Time will tell.

#135 Smoking Man on 01.10.18 at 10:46 pm

Jordan Paterson world tour.

I’m going to LA venue Jan 31

https://jordanbpeterson.com/events/

#136 Tim on 01.10.18 at 10:48 pm

I know 2 Tims franchise owners in Vancouver, both work 7 days a week, and are very unhappy, they have to be there to crack the wip in order to make decent money otherwise the minimum wage workers rape and waste the profit margins

#137 For those about to flop... on 01.10.18 at 10:53 pm

TheSecretCode on 01.10.18 at 10:42 pm
Amazing progress here:

Eby said casinos who receive gamblers with bags of cash now have to verify the cash comes from a legitimate source before accepting the transaction.

What a joke.

Get ready for the big report in March. Probably more studying of the subject thereafter.

//////////////////////////////

Hey Codie,according to Woeful T.V ,housewives ran 14 million dollars through River Rock casino in 2017…

M43BC

#138 Smoking Man on 01.10.18 at 10:54 pm

114 Screwed Canadian Millenial on 01.10.18 at 10:18 pm
By the way, I love how obvious conservatives make it that they don’t understand how an economy works.

Why don’t any of you ever factor in that companies will be making more money because workers will have more money in their pockets?

Why? Because conservatives literally have no clue what revenues are.
…..

How many business have owned? How many employees have you managed.? Do you know what a balance sheet is?

Revenues are what govt steals from the profits that people with big balls make.

#139 Screwed Canadian Millenial on 01.10.18 at 10:55 pm

#136 Smoking Man on 01.10.18 at 10:46 pm

Boy what a racket Jordan Peterson has set up profiting off the stupidity of right wing edgelords, obsessed with gender pronouns.

You couldn’t pay me to listen to Dr. Kermit the Frog for an hour.

#140 Screwed Canadian Millenial on 01.10.18 at 10:59 pm

#119 BillyBob on 01.10.18 at 10:17 pm
You really do give away your age and naivety when you express the idea that $300,000 is a lot of money to you.

———————–

you reek of spoiled brat entitlement and elitism.

$300,000 a year is literally in the top 0.6% of Canadian income earners. Yeah it is by definition a lot of money.

$300k is not a lot of money but $14/hour is too much? Give your head a shake.

Gen X might actually be worse than boomers. Makes sense, they were “raised” by boomers. Raised to be vile creatures.

#141 Deplorable Dude on 01.10.18 at 11:02 pm

You know what pisses me off about Tim Hortons…?

They give priority to drive thru customers over those waiting inside.

I’ve had enough of waiting forever inline while i count 20 cars go though the drive thru. Staff at a local Timmies told me they get fined if they don’t get those cars through in a set time.

I’ve stopped going. Prefer McCoffee now.

#142 Smoking Man on 01.10.18 at 11:04 pm

SCM

This is what’s going to happen. Prices will rise dispreportiantly to what the actual cost of higher labour.
What ever gain the min wage worker thinks they have will be wiped out over night. Reduced buying power.

Interest rates will soar. The housing market will crash. Money and investment will relocate to were they can be appreciated and those of you left behind.

Zombie Apocylpis.

And give one shit my spelling is bad. I have:

https://youtu.be/gJ3tqIukBKg

#143 boonerator on 01.10.18 at 11:16 pm

#105
“The central fact of US political economy, the source of our exceptionalism, is that lower-income whites vote for politicians who redistribute income upward and weaken the safety net because they think the welfare state is for nonwhites.
and then, a few minutes later:
And by voting against its own interests, the white working class isn’t just making itself poorer, it’s literally killing itself.”
Does this mean that lower class Americans vote to protect their white identity at the expense of their own welfare?”

Not necessarily. Psychological needs matter, often more than money. Lots of affluent people voted Trump.
What the voting does is it gives those white working class voters someone to look down on. The planter class made a deal a long time ago: ‘Your life is going to be crap and your kids but you can be sure that the dark skinned people will always be worse off then you.”

Lyndon Johnson nailed it a long time ago.
“We were in Tennessee. During the motorcade, he spotted some ugly racial epithets scrawled on signs.
Late that night in the hotel, when the local dignitaries had finished the last bottles of bourbon and branch water and departed, he started talking about those signs. “I’ll tell you what’s at the bottom of it,” he said. “If you can convince the lowest white man he’s better than the best colored man, he won’t notice you’re picking his pocket. Hell, give him somebody to look down on, and he’ll empty his pockets for you.””

#144 Deplorable Dude on 01.10.18 at 11:16 pm

#104 Andrew Woburn….’And by voting against its own interests, the white working class isn’t just making itself poorer, it’s literally killing itself.”

What are you talking about?

80% of Americans are going to see their tax reduced this year due to the GOP tax bill. Not too mention teriffic gains in their pensions.

Some 40 companies have announced bonus’s and payrises to hundreds of thousands of employees as a dorect result of the corpoate tax cut.

The US now has effectively full employment. The employment amongst Blacks is the lowest its ever been.

Trump has slashed regulations, and cut taxes, resulting in an incredible GDP forecast of 4% ongoing.

He’s ended the individual mandate so people now don’t get fined for not buying health insurance they can’t afford.

Yep literally killing themselves….or as Nancy Pelosi said…..”Armageddon”……

#145 Ronaldo on 01.10.18 at 11:20 pm

I was talking to my son who is also a small business owner and passed on the information on what a Tim’s franchisee makes after expenses. His response was, “it sounds a lot like glorified slavery”. Considering the hours they have to put in, the money invested and the hassle with staff who mostly would rather be back in their parents basement and living off mommy and daddy, I think he is not far off in his assessment.

#146 Ronaldo on 01.10.18 at 11:24 pm

#141 SCM

”Gen X might actually be worse than boomers. Makes sense, they were “raised” by boomers. Raised to be vile creatures.”
——————————————————————-
What were you raised by?

#147 conan on 01.10.18 at 11:25 pm

#131 Nick on 01.10.18 at 10:35 pm

“Increasing the cost of lower value jobs will only push business owners to automate them away.”

Do it. The future is job less. Governments are going to tax production and then use that money to give everyone a minimum income.

#148 Screwed Canadian Millenial on 01.10.18 at 11:27 pm

#143 Smoking Man on 01.10.18 at 11:04 pm
SCM
This is what’s going to happen. Prices will rise dispreportiantly to what the actual cost of higher labour.
What ever gain the min wage worker thinks they have will be wiped out over night. Reduced buying power.

———————–

Hey Smokey how much you want to bet we’re not going to have 21% inflation in Ontario this year. That is what you’re claiming. It’s an absurd argument. How much you wanna bet? Name your price. Put some money behind your insane beliefs. You read way too much ZeroHedge. It’s rotting your brain.

You should worry about your boy Trump stoking inflation in the US.

China may be mulling Treasuries slowdown
China – the biggest foreign holder of US debt – may be considering ceasing or slowing its purchases of US Treasuries, Bloomberg reports.
http://www.news.com.au/finance/business/breaking-news/china-may-be-mulling-treasuries-slowdown/news-story/48a36f73568f3af45ee68632c650bc55

Deep deep sh*t. Trump thinks the US Treasury is one of his casinos.

#149 Longterm on 01.10.18 at 11:39 pm

#104 Andrew Woburn on 01.10.18 at 9:49 pm

It appears likely that this is the case. In the 19th century, US the poor white working class, especially agricultural workers, who later became known as ‘white trash’ were at the bottom of the social and economic ladder. But, and this is important, black slaves weren’t even on the ladder and it is in binary reference to them that poor whites constructed their identity. ‘We may be poor but at least we aren’t [insert derogatory term] slaves.’

After slavery ended, poor whites and now freed poor blacks were effectively competing on or for the same rung at the bottom of the economic ladder. In rural areas this generally meant being a sharecropper [effectively debt peonage]. In this context, poor whites as a racially defined class felt they’d lost everything as there was now nothing beneath them economically, but there was a general feeling that their higher social status / white privilege could be maintained. And so began the rise of the KKK and other hate groups and the swing of poor white Americans towards voting not in their economic class interest but rather in their perceived race interest. Even if this meant voting for candidates who were rich white men, often in the early days former slave owners, who exploited their poor white labour. Because in the minds of the poor whites at least the bosses and government were white like them and those in power aimed to keep it that way through segregation etc.

Fast forward 150 years and you can draw a line straight to the rise of Trump and support for him by poor whites in rural areas. It’s still about perceived loss of white privilege / social position and the fear of losing grip on that bottom rung. Only now the poor whites also see [brown] immigrants as yet another ‘threat.’

Add into this a parallel rejection of socialism during the 20th century aided by the overwhelming belief in the US in 1) the ‘American Dream’ and 2) the powerful belief that the worst possible thing is a perceived ‘freeloader,’ and it’s easy to see why poor whites choose to vote the way they do. They have always chosen any candidate that promises to maintain their racial privilege even if it means voting against their economic interests. Because when it comes down to it, in the minds of poor whites, if they lose their race privilege and they have already lost [or never had] any economic privilege then they’ve lost everything. It’s a very interesting situation and has been a very clear pattern for at least a century. Yet imagine if poor whites realigned their vision away from race and looked in terms of class. They they could conceivable bind together with poor blacks and poor immigrants [and could have elected Bernie Sanders]. But this would threaten both the political and corporate elite and so is unlikely to happen because as evidenced in the last US presidential election, the elite has proven historically to be very good a driving wedges and creating a climate of fear and divisiveness between poor whites and ‘others,’ and creating fake bogeymen while simultaneously dangling fictitious carrots such as bringing back manufacturing jobs to America, building a wall etc., while simultaneously and in full view, restructuring the tax system to benefit themselves and literally throwing it in the face of poor whites who eat it up, because at least they aren’t in their minds ‘[insert same derogatory slurry as above] blacks / arabs etc. I watch it all with great interest as a historian.

#150 Smoking Man on 01.10.18 at 11:49 pm

#140 Screwed Canadian Millenial on 01.10.18 at 10:55 pm
#136 Smoking Man on 01.10.18 at 10:46 pm

Boy what a racket Jordan Peterson has set up profiting off the stupidity of right wing edgelords, obsessed with gender pronouns.

You couldn’t pay me to listen to Dr. Kermit the Frog for an hour.
…..

No worries SCM I’ve got a bit of lose change as do many conservatives. You govern our lives with logic rather than emotion. Tackticks over feelings. Brains over stupid
Truth over lies.

Peterson has started a revolution at universities. Teachers that have been keeping there mouths shut are organizing and there is going be a huge revolts to the globalist agenda that is designed to destroy western culture and our prosperity.

Looking forward to meeting you at the second annual blog dogapolusa at the general store last Sunday in may.2018

#151 the ryguy on 01.10.18 at 11:58 pm

#104 Andrew Woburn on 01.10.18 at 9:49 pm

“One of the enduring mysteries about blue collar Americans is that they don’t vote for their obvious economic interests such as the promotion of unions, government health care, reasonable consumer protections etc. You would expect them to vote Democrat but they voted Trump.”
—————————————————————-

You my friend, are a special breed of stupid.

– Name me one industry where a union is needed in todays world? Give me a break. Read about the Chicago teachers unions…avg salary almost 100k, DEAD LAST in results. Outsourcing is directly attributed to union costs. Have you seen the size of the buildings that some of the largest unions occupy…it is insane to think that money is better off in the pockets of the union heads. Unions have forced governments to promise money tomorrow that isn’t there. A huge chunk of Governments unfunded liabilities is owed to unions… what a foolish statement.

– Did you hear the one where Britain cancelled 50000 surgeries? How about an 8-12 month wait for an MRI in Canada? But yes, more government eurocrats will solve this problem!

Consumer protections – Oh like the one that Emperor Trump just dismantled..the one that was a secret democrat slush fund? The one where 228 “civil servants” made salaries over 200k/year, and another 450 were between 100k – 200k annually? Btw that doesn’t include pensions/perks.

Government is the problem ya fool, how ANYONE can think otherwise and still string a sentence together blows me away.

#152 Screwed Canadian Millenial on 01.11.18 at 12:00 am

#149 Smoking Man on 01.10.18 at 11:49 pm
Smokey you came up in the golden age of the labour market where you could drop out of high school (no surprise in your case) and have a decent paying career with benefits guaranteed for the rest of your life. You bought your house on the cheap and sold at peak housing bubble.

In other words, you were born halfway between 3rd and home and you think you hit a grand slam.

That’s the problem with you entitled boomers. Not one ounce of humility, appreciation or empathy.

#153 Smoking Man on 01.11.18 at 12:04 am

T2 town hall meetings.

Hand picked audience and he has the questions. Lots of time for this drama teacher to practice his lines. It’s so obvious.

Right out of the Hillary playbook. It means nothing.
Just look at the comments at the cbc when ever they do a story on him.

He dosent have many fans in the real world.

#154 Ronaldo on 01.11.18 at 12:15 am

South Korea prepares to ban crypto currency trading.

https://www.reuters.com/article/uk-southkorea-bitcoin/south-korea-justice-ministry-prepares-to-ban-cryptocurrency-trading-exchanges-raided-idUSKBN1F002A

#155 Ronaldo on 01.11.18 at 12:20 am

#153 Screwed Canadian Millenial on 01.11.18 at 12:00 am

You should change your name to “Greenwithenvy”. As Shakespeare would have said, you suffer from the green sickness.

#156 Smoking Man on 01.11.18 at 12:22 am

#153 Screwed Canadian Millenial on 01.11.18 at 12:00 am
#149 Smoking Man on 01.10.18 at 11:49 pm
Smokey you came up in the golden age of the labour market where you could drop out of high school (no surprise in your case) and have a decent paying career with benefits guaranteed for the rest of your life. You bought your house on the cheap and sold at peak housing bubble.

In other words, you were born halfway between 3rd and home and you think you hit a grand slam.

That’s the problem with you entitled boomers. Not one ounce of humility, appreciation or empathy.
…..

I have zero of those not because I’m a boomer.

I’m a man toots. A hunter. An opportunist. Proudly so.

I know those are evil things to you. But your teacher did some damage to you kid. You got a great law suit on your hands.

They made you mental with great grammar and presentation skills for all the world to see.

#157 crowdedelevatorfartz on 01.11.18 at 12:28 am

@ Screwed Canadian Mewler

My goodness. I’ve lost count of your incessant ranting
How unlike a Spoiled Canadian Millenial to monopolize the conversation…..

You wont find any empathy here .

Now scuttle back to the toilet, take a seat and think up another whining, “its all the boomers fault I live at home and will never own anything” rebuttal.
Im sure you do most of your best work in the loo.

Dont forget to pout at the unfairness of it all.

#158 Karlhungus on 01.11.18 at 12:32 am

Garth you are making it seem like the owners not owning the land is a bad thing. I thought renting was always better…

#159 LivinLarge on 01.11.18 at 12:39 am

“It’s pretty clear poloz will find any excuse not to raise interest rates”…which simply proves that economists at 6/6 banks can’t predict a week into the future better than me or you. The weather is accurate about 5 days out and I guess the economic predictions are as well.

Just invest wisely and prudently and maybe hire someone to keep your fingers off the sell button when shit happens. Things go up, things go down, just give some bearded dude who crashes Harleys but know better than we do, how the markets work, the investment decision authority and lets all relax and not worry so much…it screws with your health.

Buy a villa in France, buy a cottage in Muskoka, what ever. Drink some good liquor or wine or soon some good weed, eat some really great food some place with a great view…in short, have a hoot because it’s all over before you know it and y’all againt getting out of this alive.

#160 Ryan on 01.11.18 at 12:42 am

Please bring dunkin donuts to Canada!

#161 fishman on 01.11.18 at 12:57 am

Hey SM, thanks for the heads up on JP at Freddy Wood. Too bad its already sold out. Still got the one up on you since I did grab 6 2nd row tickets to Bukowski many moons ago. The best I ever seen. While your in L.A. get South of No North & read it with your JD in some scuzzy motel down whereabouts the master lived.

“it was 1937 in Los Angeles and it was a hell of a
Vienna”
“I ran with the older guys
some of us soldiers of the future,
running through the empty starving streets and alleys
of Los Angeles.” Mocking Bird Wish Me Luck

#162 Fake News Again on 01.11.18 at 1:03 am

Got told by our paediatrician that our son needs an MRI. Normal wait…..2 years. But he gets a rush. Only one year. Welcome to CanaDUHHHHHH.

Oh….and the hospital said that we can pay for our own for $1000. And that people do it “all the time”. Free healthcare my ass. And you people wonder why professionals are “rushing” across to Trump land that you dare to make fun of all the time.

#163 Seattle on 01.11.18 at 1:05 am

Those of us on TN visas would really appreciate a trigger warning at the top of NAFTA withdrawal posts.

#164 fishman on 01.11.18 at 1:13 am

Funny that SCM mentions the 300k figure. We got a saying on the waterfront out here for the young guys.
It goes “smoke pot, drink beer,party & have fun or never smoke pot,never operate with more than one beer & make 300 thousand a year. My millennial is half way there. What your daddy train you to do screwed canadian millennium?

#165 Exodus 2020 on 01.11.18 at 1:18 am

What are the negatives to minimum wage hike? People wasting productive time debating that it will have serious consequences to small businesses. What will really happen? Nothing much, life will go on.

Your cup of coffee with 30 cents labour priced in will now have 40 cents labour priced in perhaps.

Will the coffee shop have more sales due to more minimum wage workers having more disposable income? Likely.

#166 AB Boxster on 01.11.18 at 1:19 am

Garth,
Could you set a stupidity filter on your posts?

That way the SCM posts would be limited to 1, maybe 2 a night.
Or at least it would be forced to up their intelligence level on what they do write.

The idiocy of this posters comments is boggling.

#167 Frank on 01.11.18 at 1:28 am


To apply for a hard-to-get franchise requires $1.5 million in net worth and $500,000 in liquid assets. The franchise fee is $50,000 and in addition there’s a cash requirement of between $430,000 and $480,000, plus tax. Then you need another $50,000 in working capital.

Average store brings in ~$250K profit when all is said and done. Puts them in the 0.6% range. Bust out the small fiddles.

But Tim’s operators are the rich ones in an industry where 51% of all restaurant owners make less than $50,000 – sometimes employing wait staff earning more than that in tips.

Kind of like realtors. This is skewed by the number of people that make nothing. Lots of fools think “I like to cook, I could own a restaurant” or frat bros that say “We should open a bar”. They were going to fail no matter what they paid their staff. Want a case study? Restaurants are doing just fine in Seattle

#168 Adrian on 01.11.18 at 1:32 am

Corporate profits as a percentage of GDP are at a 60 year high, while wages are at a 60 year low. That is a problem, especially considering the high costs of living people face. And yes, franchisee owners get screwed, as the new Michael Keaton movie on McDonald’s clearly demonstrates, but that doesn’t excuse starvation wages.

#169 Spock on 01.11.18 at 1:39 am

These are going to be interesting times.

I see SCM is using the wi-fi at the food bank and making full use of it. Ignoring this troll is the best thing to do.

Like i said before let us pay $50 per hour minimum wage and let us all sit at home.

#170 Spock on 01.11.18 at 1:42 am

Yes Yes. The humility, appreciation and empathy shown by SCM is out of this world. Still waiting for another country to take this joker from our hands.

#153 Screwed Canadian Millenial on 01.11.18 at 12:00 am
#149 Smoking Man on 01.10.18 at 11:49 pm

That’s the problem with you entitled boomers. Not one ounce of humility, appreciation or empathy.

#171 conan on 01.11.18 at 1:56 am

#154 Smoking Man on 01.11.18 at 12:04 am
T2 town hall meetings.

looks like he is killing it to me. Seems pretty random, he even paused to talk to a few screaming lunatics in a respectful way.

Looking at the crowd I see lots of smiling faces. Harper’s town meetings resembled something out of a World War Two movie. Demonstrators kept back by a fence, guard dogs, barb wire, not a good time in Canada’s history.

“Right out of the Hillary playbook. It means nothing.”

No I think it means the Conservatives are going to lose a lot of seats. Sorry buddy.

CBC comments? lol There is an army of people at Short Pants University down voting anything remotely positive for the Liberals.

#172 Blessed Canadian Millenial on 01.11.18 at 2:52 am

Screwed Canadian Millenial on 01.10.18 at 10:18 pm
By the way, I love how obvious conservatives make it that they don’t understand how an economy works.

Why don’t any of you ever factor in that companies will be making more money because workers will have more money in their pockets?

Why? Because conservatives literally have no clue what revenues are.

———-

Do you have a link to this, or this is just more assumptions on your part?

Because studies show that after a minimum wage increase, the companies do not see an uptick in their revenue… so which is it, SCM? Are you going to present facts and back them up, or will you simply spew leftist thoughts?

#173 Dolce Vita on 01.11.18 at 3:24 am

Honestly Garth, I cannot understand the Canadian fascination/devotion, nor yours, with a product that is:

1. Mostly dough + sugar (add some yeast).
2. Fried in grease.
3. Coated in more sugar and/or stuffed with sugar cream that uses flour as a thickener.

Yum, yum. Sooo healthy. Atkin’s would be proud.

And their coffee, it is brown tasteless murky water and add to that a double shot of Weight Watchers petroleum cream substitute…all good for your waistline and your liver having to cleanse all that.

Ya, the above is something to obsess about, down to the nitty gritty franchise financials and labour costs…

Now, back to my caffè macchiato and brioche (the latter the Italian version, not the doughy French version).

#174 Dolce Vita on 01.11.18 at 3:34 am

Ya YVR.

Your RE and economy will be immune to B20, higher interest rates, NAFTA being torn up this summer, NDP/Green RE Speculator taxes, a gut the rich & foreigners Mayor/Premier…and the list of economic headwinds goes on.

Because you’re your own country and are not really part of Canada, add to that, it’s always different in La La Land – history never repeats there, like a Camelot with a Merlin that waves his magic wand and makes all things bad go away.

We’ll see this April/May how your RE is fairing and your Summer of content.

#175 Howard on 01.11.18 at 4:47 am

#119 BillyBob on 01.10.18 at 10:17 pm

We most definitely are. Go ahead and fight, Millennials and Boomers. We Gen X’ers will just quietly get on with things while you amuse us. :-)

————————————

As stated by the greatest Gen-Xer of them all, Kurt Cobain :

“Here we are now….entertain us”

#176 BillyBob on 01.11.18 at 5:30 am

#141 Screwed Canadian Millenial on 01.10.18 at 10:59 pm
#119 BillyBob on 01.10.18 at 10:17 pm
You really do give away your age and naivety when you express the idea that $300,000 is a lot of money to you.

———————–

you reek of spoiled brat entitlement and elitism.

$300,000 a year is literally in the top 0.6% of Canadian income earners. Yeah it is by definition a lot of money.

$300k is not a lot of money but $14/hour is too much? Give your head a shake.

Gen X might actually be worse than boomers. Makes sense, they were “raised” by boomers. Raised to be vile creatures.

===================================

Nope.

I’m just an expat airline pilot who paid for his flight training all himself. Have multiple siblings from a lower-middle class family so getting more than moral support from the parents was a non-starter.

After working for several decades and living below my means and saving/investing my tax-free income which has risen over the years, have a net worth several multiples of your $300,000. Nope, I don’t earn that every year. But I no longer consider it a lot of money. It’s certainly not nothing. But even a loser like you could make it, if you quit wasting your time trying to entitle yourself to everyone else’s.

If working hard and sacrificing – even leaving the country, which you always bleat on about but never quite seem to have the balls to do – is elitism, then yep – I guess I am the elite. lol

You, on the other hand, seem just consumed with hate, which is both sorta amusing, and mostly sad.

Here’s the thing – you constantly betray your obvious frustration with life and the way things are. Don’t you realize the people you rage against don’t give a crap about you other than your entertainment value?

The sooner you start taking things less personally the sooner you may be able to get on with a decent life.

But I doubt it. The force of loser-ness is strong in you, it is.

#177 Gravy Train on 01.11.18 at 6:08 am

“President Donald Trump—who boasted over the weekend that his success in life was a result of ‘being, like, really smart’—communicates at the lowest grade level of the last 15 presidents, according to a new analysis of the speech patterns of presidents going back to Herbert Hoover.

“The analysis assessed the first 30,000 words each president spoke in office, and ranked them on the Flesch-Kincaid grade level scale and more than two dozen other common tests analyzing English-language difficulty levels. Trump clocked in around mid-fourth grade, the worst since Harry Truman, who spoke at nearly a sixth-grade level.”
http://www.newsweek.com/trump-fire-and-fury-smart-genius-obama-774169

Is the POTUS smarter than a fifth grader? Apparently not! I now understand why SM loves DT!

“I love the poorly educated.” — Donald Trump

#178 Rooster on 01.11.18 at 6:31 am

Synopsis:
Wynne is at fault for raising minimum wage too high
or
Franchisees are greedy suntanees.
or
Restaurant Brands Intl. is refusing to negotiate.
Which means that we, the shareholders, are at fault.

#98 I like cookies on 01.10.18 at 9:40 pm
I think it’s time to adopt a limit on this site of two posts per day per person ******* Amen (maybe 2 per alias and no smoking?)

#118 Adrian on 01.10.18 at 10:17 pm
My wife and I run a small restaurant / bar in the GTA.
………. Sorry for the long post but I’m sick of the class warfare bullshit and need to vent. :)
***********
No need to apologize – a refreshing change from Garth et al hyperbole. Please write more often.

Memorandum:
The use of the female pronoun to address male posters is silly & derogatory. Gerta, please do something about this.

#179 T on 01.11.18 at 6:33 am

#117 Screwed Canadian Millenial on 01.10.18 at 10:17 pm
#72 T on 01.10.18 at 8:14 pm

They have data to back up their claims.

———————-

No they don’t. Why are you lying? They just made up a number and you believe them because you have been trained all your life to be an obedient, compliant little boy who never questions his corporate masters.

I already did the math for you. This isn’t complicated.

$2.40 x 40 x 52 = $4992
Add 11% for CPP, EI, WISB and EHT
$4992 x 1.11 = $5541

—————

It’s not complicated but it’s good to get it right. First you need all the inputs, which you do not have.

But hey – keep on acting like you know something. I’m actually finding you entertaining lately.

Every king needs a jester and you are Garth’s. I see this now. Thank you for all the comedic relief!

#180 Honey Dripper on 01.11.18 at 6:39 am

Ya that’s the problem with the economy, it’s the worker’s fault.
RBI can lessen the burden on their independent operators if they wanted to. Ever price a can of Tim’s coffee at the supermarket? Who buys that junk? Way overpriced just like their franchise fees. Real wages have not risen in 20 years. Sheesh!

#181 Mike in Toronto on 01.11.18 at 6:51 am

#152 the ryguy

One industry where unions are needed?

Natural resources. Mining, Oil, lumber etc. The economic incentives are to extract resources for corporations is to extract as quickly as possible, where fines for environmental damage are weighed against profits.

Unions’ interests are in company longevity, job stability, community safety and worker safety.

The union objectives align with the community, where the corporate objectives work against the community. Sudbury and Fort McMurray being examples of towns built around resources, and their battles with unions vs. corporate profits being endless.

The town, and union needs to think about what happens when the resources aren’t so profitable. The corporation’s plans are very clear for when the resources aren’t so profitable.

I’m generally anti-union, but there are places where they are needed.

#182 Wrk.dover on 01.11.18 at 6:55 am

You will never make any coffee on earth have that magic Horton hook, until you add the right amount of chichory.

My visiting American cousins husband detected that secret on his very first sip. And all through his first cup.

#183 Victor V on 01.11.18 at 7:08 am

Kathleen Wynne just stuck Ontario restaurateurs with a $1.8 billion tab. So who’s paying?

http://business.financialpost.com/opinion/kathleen-wynne-just-stuck-ontario-restaurateurs-with-a-1-8-billion-tab-so-whos-paying

#184 Expat Banker on 01.11.18 at 7:15 am

What stunning lack of self-awareness ” American protectionism could change everything”. Canadian protectionism is off the charts. It’s absurd. Garth, you live in a glass house, stop throwing rocks. Banks, Media, Airlines, O&G, Dairy, Forestry, Rails, Potash, Aerospace and Defense, Teleco’s, they are all heavily protected & coddled industries. If forced to compete on an even playing field with the Americans, there would be nothing left. No BCE. No TD. No Air Canada. No CBC.

#185 dharma bum on 01.11.18 at 7:35 am

#11 Some Free Advice For SCM

Get from behind that little box with the keys and start doing something to improve your lot.
——————————————————————–

Yah. SCM can start by shovelling my driveway. I woulda paid $5. But I guess it’s $14/hr now.

#186 jane24 on 01.11.18 at 7:41 am

I don’t think that youngsters shunning Timmies will make any difference. They are never in there. Look in the window as you pass and it is all older folk. Youngsters want to spend significantly more on fancy coffee options. Timmies is down market, too common for those under 40. Nice bagels though.

Anyway the main news on Bloomberg Britain is indeed that Canada is going to get shafted over NAFTA. This would be such an easy win for The Donald that he won’t be able to resist.

#187 maxx on 01.11.18 at 7:56 am

#18 Bhad Bhabie on 01.10.18 at 6:57 pm

“From today’s Gnat Post

“Hold the sugar hold the cream
Tim Horton’s don’t be mean”

*********
whereda rime at

horton hears a boo

hold the sugar hold the bean
who need tims I gotta machine

his heart colder than regina
put my beans in gaggia brera

fix is simple this dog be barking
make the addicts pay for parking”

Cute, but try fitting it to its real purpose, on a placard…at a protest rally……not really……

and whereda rime at in second stanza……

Like most of the rest of humanity, you too belong to the poète manqué club……

Horton hears a “who knew”……

#188 Howard on 01.11.18 at 8:03 am

#172 conan on 01.11.18 at 1:56 am

#154 Smoking Man on 01.11.18 at 12:04 am
T2 town hall meetings.

looks like he is killing it to me. Seems pretty random, he even paused to talk to a few screaming lunatics in a respectful way.

Looking at the crowd I see lots of smiling faces. Harper’s town meetings resembled something out of a World War Two movie. Demonstrators kept back by a fence, guard dogs, barb wire, not a good time in Canada’s history.

———————————

Of course Trudeau’s unemployed supporters in the audience were happy. Going to the townhall broke the monotony of doing nothing every day. Harper’s supporters actually worked for a living and could never attend.

The Liberals will likely win the next election but it will happen by taking NDP seats in Quebec since Quebeckers are racist. That’s the reality.

#189 TurnerNation on 01.11.18 at 8:07 am

So Kanadian Kommunists believe 300k income is absurdly rich? After crippling taxes it barely sends two kids to private school while living in a typical 1.5m Toronto house.

I bet many American entrepreneurs wouldn’t even get out of bed for 300k in Canadian Pesos.

Sickening passivity in this country bred by teachers and government elite party members and unionists.

Why our lives are run by USA corps. Your Iphone, Amazon order, Tesla car.

#190 crowdedelevatorfartz on 01.11.18 at 8:25 am

@#177 Billy Bob
Re Screwed Canadian Moaner
“Here’s the thing – you constantly betray your obvious frustration with life and the way things are. Don’t you realize the people you rage against don’t give a crap about you other than your entertainment value?”
+++++++

Truer words never spoken.

If this screeching moaner were to spend half as much time and energy pulling themselves away from the keyboard from their incessant wailing about how “everyone has it better than poor me”.

They might actually get ahead in the dog eat dog world called Life.

Nah, spewing anonymous invective, whining, bitching and moaning about the unfairness of it all ….. is way easier than retraining, reschooling and getting off ones ass.
I have relatives, co workers, friends of ALL ages that are the exact same way, “I’m so unlucky. I never get ahead. Why does this always happen to me?”.

Constantly making bad financial decisions, bad personal choices, lousy education choices……on and on and on.
Asking for advice and then arguing when it’s given instead of shutting up and taking some objective critisism.
Bitching and moaning “poor me” IS easier…….but if i may use the baseball analogy.
You’ll never hit a homerun if your too lazy to swing a bat.

But I must agree.
Screeching Childish Moaner is entertaining.

#191 Rational Optimist on 01.11.18 at 8:39 am

141 Screwed Canadian Millenial on 01.10.18 at 10:59 pm

‘Gen X might actually be worse than boomers. Makes sense, they were “raised” by boomers. Raised to be vile creatures.’

Generation X birth years are 1962 or 1964 to maybe 1980 or 1982. For most members of that cohort, your parents were not boomers. If you were born in the late ‘60s, say, you were obviously not raised by boomers. You were raised by one of the Lucky Few (which is why your cohort is similarly few in number) born before or during the war. I don’t know to what extent that would have marked Gen Xers, but you might say that both cohorts were similarly overshadowed by the ones that preceded them.

Anyway, I agree with your statement that the boomers with their excesses may well have ruined a lot of their children, but their children are not Gen Xers, they’re the “millennials” coming of age now. I can see it in a lot of people I know. I’m of the same cohort as you (born late-80s), but am more conservative by temperament and by culture. The same people I knew in my 20s who (very) loudly proclaimed how “progressive” they were, are still obviously proclaiming that, but are given to the same material excesses as their boomer parents.

I think it’s worse with the millennials (we still have to see!), maybe because these people have an obvious model to emulate in the boomers. People I’ve known, it clicks just before they turn 30- they need to own a house the size of their 60-year-old parents, which will naturally have to be new, too, so in the ‘burbs. ‘Burbs means a car, and it has to be big and new. And it doesn’t matter if they can really afford these things.

Milennials are more materialistic than Gen Xers, especially adjusting for their ability to actually afford the stuff. Our real estate bubble here, for instance, is almost no fault of X at all- it’s the current young adults, goaded by their boomer parents.

#192 Stan Brooks on 01.11.18 at 8:41 am

http://business.financialpost.com/opinion/kathleen-wynne-just-stuck-ontario-restaurateurs-with-a-1-8-billion-tab-so-whos-paying

The end of small Businesses in Canada.

The federal financial minister will tell you/a small Business owner who to hire and who not, how to distribute dividends and profit and now the provincial government will tell you how much to pay them.

Both will employ the forces of government paid for by taxpayers to achieve that.

With the highest electricity cost in North America, ever increasing taxes – CPP, Carbon taxes, alcohol taxes etc.

As I said countless time it is wise to recognize the predicament and just move on/out.

Like yesterday.

Note: They are not going to go after the wealthy, offshore tax cheats who are their friends or after CEOs stock options, they will be coming for you and deem you guilty for the inability to support/maintain/implement their corrupted schemes and economic utopias.

#193 Hamilton on 01.11.18 at 8:41 am

Someone correct me if i am wrong but if Nafta got scraped wound not the rules then go back to the previous Canada–United States Free Trade Agreement ?

To suggest that all trade between Canada and the US would stop would be challenging as the economic impact would be devastating and force either Canada to become either become best buddies with someone else or follow the same protectionism.

It seems everyone forgets life before the free trade when everyone was employed who wanted a job and made good money in manufacturing jobs.

The job lost due to free trade was massive and now we all scream and shout over fair wage but forget that we got sent down the path of working poor a long time ago.

I suggest we as a country

#194 Q2 Class 4-4-6-4 on 01.11.18 at 8:43 am

The economic ignorance of the average millennial – or Canadian, for that matter – is astounding. Small wonder they’re all debt slaves, or aspire to be.

#195 the ryguy on 01.11.18 at 8:48 am

#182 Mike in Toronto on 01.11.18 at 6:51 am
—————————————————

Fair enough, you could very well be right. Im very free market and I think most situations left alone the middle ground that works for everyone will usually be found.

#196 Ian on 01.11.18 at 8:49 am

Remember last year when I said it’s only a matter of time before creditors turn off the tap on the US’s $21 trillion debt party? Welllll…

China announced this week that it will stop buying US Treasuries:

https://www.bloomberg.com/news/articles/2018-01-10/china-s-rethink-on-treasuries-has-echo-in-premier-s-2009-worries

This has nothing to do with relations with the US as some kind of political game, and everything to do with the fact that the USD index has been collapsing since January 2017. Why would any entity outside the US hold any US assets when the dollar is collapsing?

Drycleaning service needed for Mnuchin’s underwear:

https://www.bloomberg.com/news/articles/2018-01-10/mnuchin-s-treasury-is-tested-by-china-s-bond-policy-signals

If anything will normalise rates, this is it. This is the pinnacle. No wonder US 10 year yields have been on fire lately.

The only thing that separates this bubble from all the others (GTA housing) is the length of time it’s gone on, and the $ involved. It’s the same thing. Took a long time to pop, but when it does it will be the biggest of all time by a long shot.

“China rings a bell”:

https://www.youtube.com/watch?v=yoCXTKpVM3c

#197 Gonkman on 01.11.18 at 9:00 am

No one seems to comment… who’s winning here?

Increased Wages = MORE INCOME TAX
which in turn leads to inflation and increased prices.

Increased Prices = MORE SALES TAX

Government increasing the Minimum wage only increased the taxes they get meanwhile everyone is distracted by Class Warfare.

Pretty smart on their part. “Look we are doing YOU a Favour” “Helping the Lowest Paid” ….. Oh and we (Govt) get more money too.

#198 Old Ron the Realtor on 01.11.18 at 9:00 am

I suggest all of the anti “Living wage” crowd on this blog try standing on your feet while pushing several tons of product down the conveyer belt at Walmart for 8 hours. You would be running to your Chiropractor. Trouble is even at $14 a hour you can’t afford a Chiropractor.

I am telling all of you neo cons this is not a political winner. You sound like slave owners. Give it up, let the single mom put food on the table and stop your whine. Its embarrassing.

#199 n1tro on 01.11.18 at 9:11 am

#19 Screwed Canadian Millenial on 01.10.18 at 6:57 pm
According to Garth’s own analysis, the real issue here isn’t that hard working Canadians are overpaid. They are in fact underpaid.

The real issue here is that franchisees are being raped on royalties by a foreign conglomerate.
————————-
So your cheer leading of $15/hr serves to help who? Workers get paid more at the expense of slightly higher paid owners while douchebags like Trudeau and Morneau live off interests and dividends. Is that what you call social justice?!

#200 LivinLarge on 01.11.18 at 9:36 am

“Do you have a link to this, or this is just more assumptions on your part?”… For what it’s worth, the link was posted last Friday or Saturday. It was a G&M article as I recall referencing a bunch of real life data from Alberta and the food service industry there.

BTW, it would have been a “presumption” rather than an “assumption” but what ever.

It is and has ecer been so that when people have more discretionary spending income available, they spend it. That’s the same process as giving someone a tax reduction but it really only works for folks who earn less than their current desires provide i.e. middle and lower classes. Giving a wealthy person more doesn’t stimulate any increased spending at all. It’s not like they are suddendly going to start buying more coffee or more refrigerators when they already have as much as they want. That’s the fundamental flaw with trickle down economics. The “top” don’t spend more when they suddenly get more…they just save more. Give it to the middle and it has always trickled out because they always have had greater desire than means.

Fake News! Are you jumping the gun on the pot law change or are you living in Nunavut? There hasn’t been a 2 year wait for an essential MRI in Canada for ages. 3 years ago I had one in 5 days. OK, that was Xmas eve day and they were slow but even before, my expected wait was 2 weeks and I don’t live in Toronto…SWO but not TO. Maybe they just don’t like you for some reason.

Mike in TO, I’m like you about generally having been unimpressed by unions but also realizing that some industries cry out for collective bargaining. There are so many loons here who think the “free market” should govern everything because it is so balanced and things always work out for the best. The reason there are minimum wage statutes in the first place is because it has been proven over centuries that employers will almost always pay as little as they can get away with because they always look at wages as taking “their” income rather than as the necessary investment to get “any income at all”.

#201 TrevorK on 01.11.18 at 9:48 am

I find it interesting that Starbucks continues to open more and more stores in Canada. Yes, they closed some, but they have opened more than closed. They also increased the benefits to their employees and increased the wages for, not only, the minimum waged staff, but for supervisors and managers too. I wonder how they can afford these increases and Tim’s can’t?

#202 Classical Liberal on 01.11.18 at 9:52 am

SCM thinks every “conservative” is an old corporate boomer shill. Quite amusing.
Probably doesn’t know the difference between liberal and progressive either.

#203 James on 01.11.18 at 9:59 am

#178 Gravy Train on 01.11.18 at 6:08 am

“President Donald Trump—who boasted over the weekend that his success in life was a result of ‘being, like, really smart’—communicates at the lowest grade level of the last 15 presidents, according to a new analysis of the speech patterns of presidents going back to Herbert Hoover.

“The analysis assessed the first 30,000 words each president spoke in office, and ranked them on the Flesch-Kincaid grade level scale and more than two dozen other common tests analyzing English-language difficulty levels. Trump clocked in around mid-fourth grade, the worst since Harry Truman, who spoke at nearly a sixth-grade level.”
http://www.newsweek.com/trump-fire-and-fury-smart-genius-obama-774169
Is the POTUS smarter than a fifth grader? Apparently not! I now understand why SM loves DT!
“I love the poorly educated.” — Donald Trump
……………………………………………………………….
Well, well, well Donald Trump now has the opportunity to jump back in the Obama was not born in America train. He loves the poorly educated so he can push his simple minded agenda over them. So is this piece of garbage make believe president going to support Joe Arpaios bid in a run for senate. Just what we need in America another racist bastard in the government.
Former Maricopa County, Ariz. Sheriff Joe Arpaio resurfaced false claims on Wednesday that former President Barack Obama’s birth certificate is a “forgery” and said Congress should pass a law requiring such documents to be examined.
“I’m going to tell you again that that document is a forgery document,” Arpaio told WABC’s Rita Cosby.”And nobody will touch it.”

#204 James on 01.11.18 at 10:09 am

#48 Terry on 01.10.18 at 7:32 pm

“As Canada launches a big trade complaint against the States, the word out of Washington is that the Trumpster is about to spike NAFTA – something which has already been communicated to Mr. Socks.”

Told ya so! Expect an official NAFTA withdrawal announcement from Mr. Trump shortly. After that it’s in the hands of the U.S. Congress to officially vote to pull out of the NAFTA deal.
…………………………………………………………………..
Our corporation purchases around $52M of product from US suppliers every year. We have anticipated this issue and already sourced other suppliers world wide. Guess what, we would save in the area of 35% and that included shipping, exchange and duties. This is something that every Canadian company should start doing. When that shit hits the fan Trump may have to explaining why US companies have lost their business. We have also started a large global agenda to sell into the Pacific rim and we are seeing the sales go in a positive direction. Our US sales of the last year have seen a stall.

#205 n1tro on 01.11.18 at 10:10 am

#141 Screwed Canadian Millenial on 01.10.18 at 10:59

Gen X might actually be worse than boomers. Makes sense, they were “raised” by boomers. Raised to be vile creatures.
——————–
Millenials are spawns from the mid life crisis, forgot to use protection, too drunk on new years mistakes of our Boomer parents.

Gen X’ers unite! We are mostly in middle or upper management now. We will inherit the corporate titles from boomers. Let’s collectively suppress millennials like SCM since we are the ones doing the hiring. Give it a few years until our Gen Z gets in the workforce and promote them over millennials. :D

#206 Penny Henny on 01.11.18 at 10:12 am

#101 OttawaMike on 01.10.18 at 9:46 pm
A few days ago I posted how my daughter’s employer, Metro planned to hire more full time staff.
Here is why:

https://www.baytoday.ca/local-news/opinion-government-changes-to-employment-standards-act-unbelievable-and-unexplainable-810025
////////////////////////////

wow that is ridiculous

#207 PastThePeak on 01.11.18 at 10:14 am

Why can’t the majority of posters here understand:

1) It is not that min wage is increasing, but rather than it increased overnight 21%, and is set to increase again next year for a total increase in 1 year of 29%. That is a huge increase in labour costs to adjust to in a short period of time. It is not possible to increase prices or find efficiencies to adjust in this timeframe. Hence what all business owners with significant labour costs will do is cut costs outside of direct wage.

2) Wynne / Liberals had agreed a couple years ago, along with other parties, that min wage should increase each year along with inflation. There was agreement that large increases could significantly impact business.

https://www.thestar.com/news/queenspark/2014/01/30/ontario_minimum_wage_goes_up_june_1_to_11.html

“Wynne told reporters her minority Liberal government tried to balance the interests of workers and employers with the first minimum wage increase in four years.

She promised legislation next month that, if passed, would tie the minimum wage to the annual inflation rate in future years, with six months’ notice of any increases.

“I think the vast majority of people in Ontario understand it’s very difficult to make ends meet living on minimum wage and that there needs to be a fair way of allowing minimum wage to keep up with the cost of living,” she said at a Bathurst St. coffee house.

“This is a fair adjustment to the minimum wage and it gives businesses predictability.”

That was in 2014. The more recent $15 target was purely part of electioneering – “business predictability” be damned.

Only the leftist ideologues (idiot morons like SCM and dozens on this blog) are trying to change the narrative that businesses don’t want to pay the min wage.

#208 maxx on 01.11.18 at 10:21 am

“Will the boss at the Bank of Canada chicken out of a rate increase next Wednesday, even after he read yesterday’s blog? Maybe. As Canada launches a big trade complaint against the States……..”

If ever there was a dope-headed move that this oxygen-deprived bobblehead can pull to strengthen the resolve of Monsieur Trump to spike NAFTA, it is this limp, shriveled and desiccated carrot gambit.

#209 Ian on 01.11.18 at 10:23 am

#109 OttawaMike on 01.10.18 at 9:58 pm
Can we discuss the corporate tax cuts business got?
-1% this year Jan 1st.
Will that not soften the blow somewhat?

Also if we ate experiencing record employment isn’t now the time to fiddle with the wage rates?
——————————-

Thanks for mentioning Mike, and I can’t believe everyone ignored your comment. We do need to talk about this. I just worked with my accountant to file my fiscal year ended November.

Ontario’s Liberals, in full election mode panic, gave us a 1% cut starting 1 Jan:

http://www.cbc.ca/news/canada/toronto/ontario-small-business-tax-cut-fall-economic-statement-1.4401555

Of course, that still leaves Ontario with the third-highest corporate tax rate in Canada. That, combined with the minimum wage vote grabbing plan, is a disaster.

As you folks know, I am the last person to be a fan of The Snowboarder and Tax Fairness. But after all the stick Tax Fairness took on his countrywide Fairness Farewell Tour last year, they have announced a cut to 10% in January, and 9% in 2019, so unfortunately I have to give them some credit for this.

http://business.financialpost.com/news/economy/newsalert-liberals-to-trim-small-business-tax-rate-to-stanch-political-bleeding-2

Now we need Patrick Brown to win, cut Ontario’s small corporate rate to 2%, and reverse the minimum wage nonsense scheduled for 2019.

And for THE LOVE OF HEAVENS can you guys stop responding to SCM. Let him sit at the McChucks on his free wifi until he hits the fifteen minute cutoff limit and they boot him out for not buying anything.

#210 Mattl on 01.11.18 at 10:23 am

Not sure what the issue is with the media campaign against Timmies. This is the market at work. Joyce tried to be clever and play politics with the min wage law and lit a fire. It was a stupid move and shows a real lack of understanding on how social media works. The heirs are clearly not in touch with reality of they thought a letter like that would reasonate with Canadians.

And thanks for the franchise math Garth but this isn’t about how expensive it is to run a business. This is about a wealthy business person playing politics with employee’s benefits. There were myriad ways to address the min wage increase – hard to feel sorry for this couple, this mess looks good on them.

#211 Alex Greene on 01.11.18 at 10:42 am

Owners deserve all they got here with that little PR stunt. Here’s an idea — instead of crying about mandatory min living wage, try spending all that energy lobbying Tim’s corporate office for more share of the massive profits they’re earning. Or start your own independent shop, a true mom & pop owned local business instead of just pretending to be one.

#212 karlhungus on 01.11.18 at 10:56 am

Look at that SCM, Walmart raises its minimum wage to $11. Imagine that! Market forces made it happen, not the government. Maybe when you actually learn how the economy works you would understand that.

#213 n1tro on 01.11.18 at 10:59 am

#166 Exodus 2020 on 01.11.18 at 1:18 am

Will the coffee shop have more sales due to more minimum wage workers having more disposable income? Likely.
—————-
People making minimum wage regardless the amount do not have “disposable” income. Whatever extra money they get from the wage hike would most likely not be put back to the coffee shop.

#214 n1tro on 01.11.18 at 11:03 am

#186 dharma bum on 01.11.18 at 7:35 am
#11 Some Free Advice For SCM
Get from behind that little box with the keys and start doing something to improve your lot.
——————————————————————–
Yah. SCM can start by shovelling my driveway. I woulda paid $5. But I guess it’s $14/hr now.
——————
It’ll cost you more than that. She would need her coffee break paid for as she posts at the local McDonalds during which time more snow would have accumulated this causing a 1hr job turn into 3hr.

#215 AGuyInVancouver on 01.11.18 at 11:05 am

#145 Deplorable Dude on 01.10.18 at 11:16 pm
What are you talking about?

80% of Americans are going to see their tax reduced this year due to the GOP tax bill. Not too mention teriffic gains in their pensions.

Some 40 companies have announced bonus’s and payrises to hundreds of thousands of employees as a dorect result of the corpoate tax cut.

The US now has effectively full employment. The employment amongst Blacks is the lowest its ever been.

Trump has slashed regulations, and cut taxes, resulting in an incredible GDP forecast of 4% ongoing.

He’s ended the individual mandate so people now don’t get fined for not buying health insurance they can’t afford.

Yep literally killing themselves….or as Nancy Pelosi said…..”Armageddon”……
_ _ _
LOL, it’s all fun and tax cutting games until the bills come due. The USA is pushing itself down to Third World status. How long until American start complaining about toxic air or being poisoned by their drinking water again? Only a fool would think this short term gain will lead to anything other than long term pain.

#216 Ezzy on 01.11.18 at 11:07 am

Boomers = “let’s pull up our socks, get to work, do the best we can do to raise our family and support them, and maybe, just maybe we’ll enjoy a little bit of time after we retire”

Gen-x = “let’s get into those management positions and work hard because we’re already starting on a better footing than our parents. But we do have some expectations, and we’d like to have fun while we’re young, too”.

Gen-Y (millennials) = “I’m angry! I’m angry because things aren’t as good as they were for my older siblings. I’m angry because of the injustices of our society (not that I’d ever give up all the fabulous luxuries we enjoy, regardless of the cost to others in the world). I want what’s owed to me. My parents owe me. The government cares for me and must look after me. Anyone that has more than me is the Devil incarnate and must be made to suffer for whatever pain they’ve caused to others in order to achieve their success (read: I’m jealous but too lazy to do anything about it, besides, the world owes me for all the wrong it’s done to me).

#217 IHCTD9 on 01.11.18 at 11:09 am

#118 Adrian on 01.10.18 at 10:17 pm

…I know everyone thinks the grass is greener elsewhere, but I can tell you running your business in Canada isn’t all that. Honestly a lot of the time it’s just not worth it…

Sorry for the long post but I’m sick of the class warfare bullshit and need to vent. :)

______________________________________

It won’t be long before not much at all is worth doing here unless you’re working for the Government. It’s already well underway here in Ontario with real good paying jobs having been incinerated by the hundreds of thousands via successive Liberal governments.

Best make a plan if you are in Ontario. Wynne still has a chance of getting in again, and even if not – Brown is promising to spend and tax pretty much the same as Wynne. I’ve got a feeling Brown is overall just as dumb as Wynnie too.

No Politician here is promising to cut costs and spending (because in Ontario, good financial stewardship is Political suicide). 400 Billion, here we come.

#218 millmech on 01.11.18 at 11:12 am

#199
The single mom is going to have less after tax money due to the progressive tax laws to buy more expensive food(price inflation to cover new minimum wage). There is now inflation which will cause the Government to raise interest rates which will inflate the cost of housing, transportation, clothing.
Truly the Canadian way, we feel richer for being poorer!

#219 LivinLarge on 01.11.18 at 11:17 am

“Only the leftist ideologues (idiot morons like SCM and dozens on this blog) are trying to change the narrative that businesses don’t want to pay the min wage.”…well I’m a leftwing ideologue and I certainly am not trying to change any narrative. Businesses as a whole, never like having wages dictated, they never have, that’s why we have minimum wage statutes in the first place.

Businesses had plenty of heads up time with the increase. They could simply have periodically increased their retail prices in anticipation of the increase and their problem solved. Business wasn’t blind sided by a two week notice of a minimum wage increase but they wanted to make an issue of it so they manufactured an apparent crisis out of nothing, for sympathy value.

Just because I was curious about whether fast food businesses were actually concerned about having to reduce their compliment of employees because of the new regs, I went to 10 major franchise food shops in the last week (no I didn’t st 10) and every single one had “help wanted” posters hanging in their shop. Sure, 10 is a small sample and ad hoc but everyone of them are looking to add to their staffing rather than staying static or reducing and that can only mean they don’t think they have adequate staff to handle predicted demand.

They don’t “WANT” to pay more in wages because they also don’t want to be forced to increase their prices. Clearly they think that increasing their prices will have a negative impact on their cashflow. The problem is that that is naiveté and has only been a valid presumption during times of high unemployment and high inflation and neither are evident today.

#220 IHCTD9 on 01.11.18 at 11:20 am

#121 Screwed Canadian Millenial on 01.10.18 at 10:18 pm
By the way, I love how obvious conservatives make it that they don’t understand how an economy works.

Why don’t any of you ever factor in that companies will be making more money because workers will have more money in their pockets?

Why? Because conservatives literally have no clue what revenues are.
___________________________________

Come on Woman – think harder. Get that left brain thawed out.

“You can do it if you try”

– Fred Penner

#221 Victor V on 01.11.18 at 11:21 am

Laurentian buys back $180M in ‘problematic’ mortgages, more repurchases to come

http://business.financialpost.com/news/fp-street/laurentian-buys-back-180m-in-problematic-mortgages-more-repurchases-to-come

#222 Iconoclast on 01.11.18 at 11:24 am

Prediction: In six months we’ll see the introduction of the new “Tim’s Express Convenience Kiosk”.

It’ll look like the McDonalds ordering kiosk, but it will dispense your coffee on the spot. Humans will only be needed to keep the coffee hoppers full.

There go half the counter jobs. Ta-daah!

#223 IHCTD9 on 01.11.18 at 11:38 am

#211 Mattl on 01.11.18 at 10:23 am

This is about a wealthy business person playing politics with employee’s benefits. There were myriad ways to address the min wage increase – hard to feel sorry for this couple, this mess looks good on them.
______________________________________

I think they are learning a valuable lesson about Canadians as well.

I suspect they’ll let the smoke clear a bit before starting the 1st round of layoffs. Also, when they make even more and deeper cuts to stay afloat, they’ll probably just do so without giving reasons. Same when they replace their counter staff with kiosks. When they ask why, just tell ’em they’re not privy to that info, and point to the door.

Best just send them out confused and unemployed…

#224 Damifino on 01.11.18 at 11:40 am

#211 Mattl

This is about a wealthy business person playing politics with employee’s benefits.
——————————-

It’s about a desperate provincial government playing politics with employee’s wages.

#225 Old Ron the Realtor on 01.11.18 at 11:51 am

TO ALL OF THE GENERATIONALLY INCLINED POSTERS:

Guys you have to give this intergenerational stuff up. Its a mugs game and you are losing.

Here is what I am talking about.

I got a call from a businessman the other day. He was returning my call about buying 20 kilos of range feed Beef from his ranch. (Old Ron is a bit of a Paleo when it comes to food).

Here is the great part.

1) He is 79 years old

2) He was calling me from his cell phone on a ski lift in the Canadian Rockies

3) He interrupted his vacation to make a sales call which was probably worth no more than a hundred bucks to him.

4)I was driving in my car near Mount Forest Ontario, he was stuck on a ski lift in Banff, so we got talking. In 5 minutes, I became truly inspired. He had started his business in his 70s, and he made it clear, he was going for it until his last breath.

My 70+ year old buddies will be riding down the Baja from San Diego to Cabo on rented V-Stroms this week, camping on the beach, sipping a beer, and talking about the next ride.

Life has an expiry date, we just don’t know when it is. So my disillusioned Gen X-ers, get off your duff and get in the game. Get what you want and pay the price.

#226 When the Whip Comes Down on 01.11.18 at 11:55 am

#88 Cto – you nailed it!

#227 PastThePeak on 01.11.18 at 11:57 am

#109 OttawaMike
#210 Ian on 01.11.18 at 10:23 am

What about the reduction in small business tax?

Indeed at both the Fed & Provided level, there is a reduction happening that helps out for those business with enough profit to matter. However, for a labour intensive business, with razor thin margins (forget about Timmies everyone – think of the restaurants, local coffee shops, corner stores, etc), the reduction in tax is unlikely to even come close to offsetting the increased costs.

And a reminder for all – when they drop the small biz corp tax like that, they increase the dividend component for any withdrawals from the business, so the total tax “in owners hands” remains (about) the same. That is how the dividend tax credit is meant to work, but most don’t focus on it thinking only that the small biz got a tax break. That tax break helps to keep money “in the business”, but does nothing for owner take home.

#228 IHCTD9 on 01.11.18 at 12:01 pm

#206 n1tro on 01.11.18 at 10:10 am
#141 Screwed Canadian Millenial on 01.10.18 at 10:59

Gen X might actually be worse than boomers. Makes sense, they were “raised” by boomers. Raised to be vile creatures.
——————–
Millenials are spawns from the mid life crisis, forgot to use protection, too drunk on new years mistakes of our Boomer parents.

Gen X’ers unite! We are mostly in middle or upper management now. We will inherit the corporate titles from boomers. Let’s collectively suppress millennials like SCM since we are the ones doing the hiring. Give it a few years until our Gen Z gets in the workforce and promote them over millennials. :D
____________________________________

That’s sounds like a good plan. I’ve already put out a corporation wide watch for millennial women matching SCM’s description (scowly, pouting, liberal arts degree, goofy looking glasses etc..) to ensure we steer clear.

#229 Polina on 01.11.18 at 12:03 pm

To #13 Long Branch Apprentice

————-
All this talk of minimum wage is exactly what Wynne wants, to distract you from social justice policies (TDSB anyone?)
————-

Any thoughts on how to fight all this recent TDSB nonsense??? In particular, their travel ban to USA (even for students who may qualify for international competitions)? Forcing students to say daily “thank yous” to the aboriginals, “equity” initiatives, etc. – they simply implement somebody’s political agenda for which they should not have a mandate. How to hold them accountable?

#230 Kelsey on 01.11.18 at 12:04 pm

#SCM – My advice to you as a fellow Millenial is to play the hand you were dealt, not the one you wish you were dealt. Our generation faces both advantages and disadvantages when compared to our parents’ generation, but I’d rather be alive today than at any other time in history. And we may not have entitlements when we retire but just imagine the healthcare technology that will be available to maintain our quality of life as we age. And I also think there is more opportunity today than ever before, if you look for it. I mean, with a few clicks from home, I could be hopping on a cheap flight to literally anywhere in the world tomorrow, or communicating with anyone, anywhere instantly. My parents sure as hell didn’t get to do that when they were my age.

#231 Damifino on 01.11.18 at 12:09 pm

#199 Old Ron the Realtor

What does a guy think who currently makes $15 and worked his way up from $12 over a few years? Will he believe he’s somehow blazed a trail for his compatriots?
Would you celebrate if it was you?

#232 Tim on 01.11.18 at 12:14 pm

Serves then right. Their coffee sucks. Franchises reduce originality and make the world more homigenized. Nothing like visiting a 300 year old church in France right next to a McDonalds. Franchise also make it harder for sole proprietor s to compete. I hope they go south.

#233 James on 01.11.18 at 12:23 pm

#197 Ian on 01.11.18 at 8:49 am

Remember last year when I said it’s only a matter of time before creditors turn off the tap on the US’s $21 trillion debt party? Welllll…

China announced this week that it will stop buying US Treasuries:

https://www.bloomberg.com/news/articles/2018-01-10/china-s-rethink-on-treasuries-has-echo-in-premier-s-2009-worries

This has nothing to do with relations with the US as some kind of political game, and everything to do with the fact that the USD index has been collapsing since January 2017. Why would any entity outside the US hold any US assets when the dollar is collapsing?

Drycleaning service needed for Mnuchin’s underwear:

https://www.bloomberg.com/news/articles/2018-01-10/mnuchin-s-treasury-is-tested-by-china-s-bond-policy-signals

If anything will normalise rates, this is it. This is the pinnacle. No wonder US 10 year yields have been on fire lately.

The only thing that separates this bubble from all the others (GTA housing) is the length of time it’s gone on, and the $ involved. It’s the same thing. Took a long time to pop, but when it does it will be the biggest of all time by a long shot.

“China rings a bell”:

https://www.youtube.com/watch?v=yoCXTKpVM3c
……………………………………………………………………
20 trillion and rising fast. Trump better stay out of Xi Jinping’s cross hairs.

https://www.statista.com/statistics/216998/forecast-of-the-federal-debt-of-the-united-states/

#234 James on 01.11.18 at 12:28 pm

#207 Penny Henny on 01.11.18 at 10:12 am

#101 OttawaMike on 01.10.18 at 9:46 pm
A few days ago I posted how my daughter’s employer, Metro planned to hire more full time staff.
Here is why:

https://www.baytoday.ca/local-news/opinion-government-changes-to-employment-standards-act-unbelievable-and-unexplainable-810025
////////////////////////////

wow that is ridiculous
…………………………………………………………..
No not really, Ontarians are too placid. It is ridiculous that here in Ontario we constantly elect such liberal close minded idiots. You get what you pay for people!

#235 For those about to flop... on 01.11.18 at 12:30 pm

That’s all Nike by me…

M43BC

“The Most Valuable Sports Brands in the World.

It’s a new year, and that means more people are hitting the gym in the hopes of making a sustainable lifestyle change. With everyone making New Year’s resolutions to get healthy, it made us think about the broader sport brands and athletic apparel markets. Who are the biggest players, and what’s the market look like? We put together a new viz to find out.

We got our data from Forbes, which publishes an annual list of the most valuable companies in almost every conceivable industry. We placed each company inside a rectangle corresponding to its market value, then we added logos and the valuation as a quick reference. This creates a snapshot of the entire market at one glance.
There are some obvious reasons why looking at the data in this way is better than a boring bar chart. Nike dominates the sports brand market with a value of $29.6B, accounting for 42% of the entire market capitalization. The second, third, and fourth largest companies similarly make up a combined 41% of the market. In other words, sports brands tend to be very top-heavy—dominated by a few large companies, with no other brand topping $5B. That’s right—four companies control more than 80% of the space.

So what might this chart look like at the end of 2018? It’s hard to say with so much disruptiongoing on in the economy. When it comes to the athletic apparel market, Adidas and Under Armour have a long way to go before they can seriously challenge the top company. Nike has a lot of advantages being the largest, especially since they recently returned to double-digit earnings growth.

The second largest company, however, faces a more uncertain future. Disney actually owns ESPN, which is bundled with other popular channels. That means if you want cable TV, you have to get ESPN. But since cable bills keep getting more expensive, more and more people are cutting the cord in favor of streaming services like Netflix. All of this means that ESPN’s recent round of layoffs probably foreshadows more difficult times for the network.

Let’s take a step and break things down. Here’s the data in a simple list, from highest to lowest valuation ($ M).

1. Nike: $29,600

2. ESPN: $15,800

3. Adidas: $7,900

4. Sky Sports: $5,500

5. Under Armour: $4,400

6. MLBAM: $2,400

7. UFC: $2,000

8. YES: $1,400

9. Reebok: $800

10. NESN: $650

If your New Year’s resolution calls for going to the gym more, take a look around the next time you’re there. We bet you’ll see a lot of people wearing Nike outfits, and odds are that ESPN will be playing on the TV in the corner. That is, unless your treadmill has Netflix.”

https://howmuch.net/articles/most-valuable-sports-brands-2017

#236 joblo on 01.11.18 at 12:30 pm

Trudope would look fabulous in a MANBUN!

#237 Ed. on 01.11.18 at 12:31 pm

188 maxx on 01.11.18 at 7:56 am
#18 Bhad Bhabie on 01.10.18 at 6:57 pm
*********
whereda rime at

horton hears a boo

his heart colder than regina
put my beans in gaggia brera
*******
Cute, but try fitting it to its real purpose, on a placard…at a protest rally……not really……
and whereda rime at in second stanza……
like most of the rest of humanity, you too belong to the poète manqué club……

Horton hears a “who knew”……
**********

I believe Ms Bhabie was employing “incongruity” in her poetry. It certainly would have been better if she owned a different coffee maker, but staying true to one’s life when imitating art is laudable in itself. N’est ce pas?

#238 IHCTD9 on 01.11.18 at 12:34 pm

#208 PastThePeak on 01.11.18 at 10:14 am
_______________

You are correct on all points. But your mention of the overall reason this is happening is because Wynne is up for election this year is most correct. Wynnie is going off the deep end trying to get back on top in the polls. That is why there is another dollar dangling for January 2019.

She knows just how stupid Ontarians are. She knows all that matters are the handouts. She knows they’re mostly all broke, and half the province works for minimum wage. She knows most newcomers end up in Ontario.

Her rise in the polls after taking on billions in debt to discount hydro bills proves she is correct. The revolt against TH also proves her correct. Ontario voters have about the same IQ as a cord of firewood.

Ontario voters are cutting their own throats – might as well get it done sooner than later. I’ll be voting for her, the sooner everyone’s on UIC the better.

#239 IHCTD9 on 01.11.18 at 12:54 pm

#209 maxx on 01.11.18 at 10:21 am

If ever there was a dope-headed move that this oxygen-deprived bobblehead can pull to strengthen the resolve of Monsieur Trump to spike NAFTA, it is this limp, shriveled and desiccated carrot gambit.
__________________________________________

[slaps Trudeau on back] – “Good timing buddy!”

We’re really going to reap the whirlwind with this blockhead.

China tells him to take his gender/climate tripe and shove it, so what’s he do? He runs over to Trump (of all bloody people) and starts talking the same crap.

What a colossal idiot.

Is Trudeau starting to understand no one else cares about the useless garbage he thinks is important?

Trudeau, here’s a hint: There is a time and a place for everything. Now is not the time, nor are the USA and China the places. Get your shit together before you really **** things up for Canada.

#240 Fake News Again on 01.11.18 at 1:00 pm

#178 Gravy Train on 01.11.18 at 6:08 am
“President Donald Trump—who boasted over the weekend that his success in life was a result of ‘being, like, really smart’—communicates at the lowest grade level of the last 15 presidents, according to a new analysis of the speech patterns of presidents going back to Herbert Hoover.

“The analysis assessed the first 30,000 words each president spoke in office, and ranked them on the Flesch-Kincaid grade level scale and more than two dozen other common tests analyzing English-language difficulty levels. Trump clocked in around mid-fourth grade, the worst since Harry Truman, who spoke at nearly a sixth-grade level.”
http://www.newsweek.com/trump-fire-and-fury-smart-genius-obama-774169

Is the POTUS smarter than a fifth grader? Apparently not! I now understand why SM loves DT!

“I love the poorly educated.” — Donald Trump

___________

“The budget will balance itself.” – Justin Trudeau

#241 Expat on 01.11.18 at 1:01 pm

At $11 an hour, those jobs are a drain on society as we are required to provide public assistance to people even when they already work full time.

And this raises our taxes, so employers can profit from suppressed wages while the rest of us pay for it.

Keeping things this way will only encourage the servant industry bosses to create more garbage jobs that increase poverty and welfare workers. It is a penny wise, pound foolish approach.

Ignore the woe and doom conservatives. They always howl when minimum wage goes up. They always make scary predictions. And they’re always wrong.

#242 Howard on 01.11.18 at 1:02 pm

#218 Ezzy on 01.11.18 at 11:07 am
Boomers = “let’s pull up our socks, get to work, do the best we can do to raise our family and support them, and maybe, just maybe we’ll enjoy a little bit of time after we retire”

Gen-x = “let’s get into those management positions and work hard because we’re already starting on a better footing than our parents. But we do have some expectations, and we’d like to have fun while we’re young, too”.

Gen-Y (millennials) = “I’m angry! I’m angry because things aren’t as good as they were for my older siblings. I’m angry because of the injustices of our society (not that I’d ever give up all the fabulous luxuries we enjoy, regardless of the cost to others in the world). I want what’s owed to me. My parents owe me. The government cares for me and must look after me. Anyone that has more than me is the Devil incarnate and must be made to suffer for whatever pain they’ve caused to others in order to achieve their success (read: I’m jealous but too lazy to do anything about it, besides, the world owes me for all the wrong it’s done to me).

——————————————-

You’re seriously arguing that Boomers didn’t have fun during their 1960s youth?

Of course they weren’t angry. Unlike, they didn’t NEED to demand anything. They were handed the good life on a silver platter…and then sold the silver platter for a lava lamp.

#243 maxx on 01.11.18 at 1:03 pm

#25 DON on 01.10.18 at 7:04 pm

“Garth,

Judging by the news headlines – 6 out of 6 Bank economists say it is Time to raise rates…but other headlines seem to be giving Mr. Poloz an out quoting NAFTA and indebted households. Seems to be a hidden message in the news articles. Stuck between a rock and a hard place.

What a state we are in!”

Good point….tragically, for Canadians, Mr. Poloz hasn’t one iota of a genuine out.

What he has is nothing but the soporific old gimmick of blowing gently on interest rate levers, a time-wasting, endlessly sideways moving of the economic sludge that is Canada.

Household debt will never diminish with low rates- it will continue its disastrous rise, costs will continue to increase, inter-generational warfare will continue apace (which the Libs adore as an easy way to scoop votes) and this junk, cb economic methodology will yield, at best, a huge serving of worsening economic mess for everyone.

#244 SWL1976 on 01.11.18 at 1:07 pm

#118 Adrian

Taking from one to give to another doesn’t work. If we don’t wake up and start demanding better conditions for everyone, we’re doomed to all stay poor. I came from a communist country and I know what that looks like. We’re all going to be equally miserable.

Give it up for Adrian for telling it like it is

We just got back from a week in Cuba. SCM should pay a visit there to see how socialism really does create a shit hole of poverty for everyone

Also SCM, do you even realize what a joke you are, as you are protesting Timmy Ho’s from inside a Micky D’s?

Wow!!! Some protest kid.

Why not go out and try to created some wealth, or perhaps start a business in your own fictional utopia where you can pay all your employees a true living wage of $40/hr?

Crickets to this is my bet

#245 LivinLarge on 01.11.18 at 1:08 pm

“What does a guy think who currently makes $15 and worked his way up from $12 over a few years? Will he believe he’s somehow blazed a trail for his compatriots?
Would you celebrate if it was you?”…that “guy” will think about it for maybe one pay period and then forget about it all together because “his” pay didn’t decrease. He will only care about any change for more than one pay period if his personal situation changed. Human nature is to quickly forget about crap that doesn’t actually impact you directly. It is the venue of the much more well off to get all worked up about other folks they don’t know getting ahead.

And interesting to note, in the same way T2 made increases to TFSA contribution limits controlled by CPI thus taking away from being a political football vote buying boondoggle, KW has made future (after 2018) increases to minimum wage a systemic process. So, rather than making minimum wages another political football, she has taken the football out of the equation all together.

#246 Doug in London on 01.11.18 at 1:22 pm

We must be a pretty boring bunch here in the Forest City, I haven’t seen any protests at any of the Timmies restaurants here.

#247 Newcomer on 01.11.18 at 1:25 pm

#174 Dolce Vita on 01.11.18 at 3:24 am
Honestly Garth, I cannot understand the Canadian fascination/devotion, nor yours, with a product that is:

1. Mostly dough + sugar (add some yeast).
2. Fried in grease.
….

Would it were so! At Tims, they are par-baked, frozen, shipped to the store and then re-baked. They are not donuts at all, just awful cakes with a sugar glaze. Good donuts are freshly fried.

#248 IHCTD9 on 01.11.18 at 1:53 pm

#224 Iconoclast on 01.11.18 at 11:24 am
Prediction: In six months we’ll see the introduction of the new “Tim’s Express Convenience Kiosk”.

It’ll look like the McDonalds ordering kiosk, but it will dispense your coffee on the spot. Humans will only be needed to keep the coffee hoppers full.

There go half the counter jobs. Ta-daah!
_______________________________________

Put ’em in the drive thru, make it 5 lanes. That’ll do in just about every job in the building plus double the regular clientele.

#249 Yorkville Renter on 01.11.18 at 1:53 pm

anyone who thinks cutting a business’ net income by a minimum of 18% overnight is no big deal is either a billionaire or hasn’t a clue.

imagine your work cutting your after-tax income 18% or more overnight? would you think it’s fair? will it seem more fair when uninformed people say you can afford it, so shut up and be happy?

#250 Smoking Man on 01.11.18 at 1:56 pm

171 Spock on 01.11.18 at 1:42 am
Yes Yes. The humility, appreciation and empathy shown by SCM is out of this world. Still waiting for another country to take this joker from our hands.

#153 Screwed Canadian Millenial on 01.11.18 at 12:00 am
#149 Smoking Man on 01.10.18 at 11:49 pm

That’s the problem with you entitled boomers. Not one ounce of humility, appreciation or empathy.
……

How is this a problem.? Required characteristic for any good business man. Obviously I won’t get invited to the whyning libtard collectivst society.

#251 jess on 01.11.18 at 1:57 pm

#223 Victor V on 01.11.18 at 11:21 am

“problematic ” weasel words

=
https://www.therecord.com/news-story/8046469-condo-owners-upset-over-surprise-tax-bills/

#252 Iconoclast on 01.11.18 at 2:00 pm

#118 Adrian

> We’re all going to be equally miserable.

For all too many people, this is the end goal.

#253 torontorocks on 01.11.18 at 2:04 pm

I’d like to say Happy New Year to everyone with all the best for health and happiness and all that other good stuff.

Smoking Man was largely right when he said that this generation or whatever this is is nothing more than a me too, why not me, entitled bunch of drips that rant on success and bemoan the successful. Gold stars for everyone and the conditioning of those little millennials or snowflakes to expect the same as everyone else, not understand or appreciate that failure makes you strive harder and to not recognize being successful as something you should achieve or aspire to be has led us to this complete turd of a Prime Minister, another entitled flake as his finance minister and a government that will be pushed aside by a guy named Trump. Our government is pillaging success (not their trust fund success mind you, that’s for them and theirs alone) but for those hardworking suckers that had the rules changed on them. And the smokescreen is under the premise of fairness for all. Meanwhile, they themselves won’t share a pot full of piss.

And speaking of meanwhile, the US economy is sharing the windfalls of a tax break among its employees. Nero/Trudeau, et al diddles while the US roars.

The fact that our prime minister states that Canada has no core values shows you how devoid of any substance this cat has.

Good luck to the next wave.

#254 Bhad Bhabie ( PG-13) on 01.11.18 at 2:08 pm

#209 maxx on 01.11.18 at 10:21 am

“Will the boss at the Bank of Canada chicken out……..”

If ever there was a dope-headed move that this oxygen-deprived bobblehead can pull to strengthen the resolve of Monsieur Trump to spike NAFTA, it is this limp, shriveled and desiccated carrot gambit

*********
maxx trojan he misread
pull the hoodie over your head

got no wise words he done come
here to pester @chub.com

bad boy need a spank
en francais wank ;-)

#255 Deplorable Dude on 01.11.18 at 2:14 pm

#217 AguyinVancouver…’LOL, it’s all fun and tax cutting games until the bills come due. ‘

The US Treasury Secretary Steve Mnuchin has already said the increased GDP will more than compensate for the decreased tax revenue.

It’s gonna be a laugh at the next election, the Dem’s will platform will to raise taxes……lol….

#256 SoggyShorts on 01.11.18 at 2:22 pm

#79 pay your taxes on 01.10.18 at 8:43 pm
My friend’s wife manages half a dozen locations owned by the same franchisee. One of the locations pulled in 70 grand on Canada day alone
***********************
Methinks someone is lying…..
$70,000 is 35,000 coffees
1,450 coffees per hour
24 coffees per minute
This timmies sold and served a coffee every 2.5 seconds for 24 hours straight?
I’ll bet my left timbit that didn’t happen.

#257 Guy in Calgary on 01.11.18 at 2:25 pm

Anyone that thinks the boomer generation did not have an advantage over the millennial generation is simply delusional but I digress…

No representation for fiscally conservative lefties in this world. Or this blog. I think we are the ones eating the popcorn waiting for all this to blow over.

#258 IHCTD9 on 01.11.18 at 2:31 pm

#199 Old Ron the Realtor on 01.11.18 at 9:00 am

I suggest all of the anti “Living wage” crowd on this blog try standing on your feet while pushing several tons of product down the conveyer belt at Walmart for 8 hours. You would be running to your Chiropractor. Trouble is even at $14 a hour you can’t afford a Chiropractor.

I am telling all of you neo cons this is not a political winner. You sound like slave owners. Give it up, let the single mom put food on the table and stop your whine. Its embarrassing.
____________________________________

Good grief Ron, “a couple tons down a conveyor at Wal-Mart for 8 hours”?

Seriously Ron – this is the lamest post I’ve ever read anywhere.

Ron, a couple tons of anything is peanuts. A typical farm guy can move feed/shavings on his own shoulder from truck to dock of at least 25 tons in 8 hours.

It sounds to me like you need to start lifting and exercising if you think pushing a couple tons of stuff down a bloody conveyor is hard work.

#259 InvestorsFriend on 01.11.18 at 2:32 pm

Then, Let Them Buy Robots?

#169 Adrian on 01.11.18 at 1:32 am said:

Corporate profits as a percentage of GDP are at a 60 year high, while wages are at a 60 year low. That is a problem, especially considering the high costs of living people face. And yes, franchisee owners get screwed, as the new Michael Keaton movie on McDonald’s clearly demonstrates, but that doesn’t excuse starvation wages.

*************************************
That sounds right, the share of the economy going to capital as opposed to labour and even land has risen.

That’s partly because the share of the economy produced by capital (knowledge, buildings, machines, systems of all kinds) has increased dramatically.

So, what to do?

I agree with the hike to minimum wages although I worry $14 and $15 could be too high for rural areas. But overall, I am in favor.

I agree with lower income taxes, even outright credits for those working on low wages. Buffett favors that approach called in his country “the earned income tax credit”).

Those of you in a position to invest should attempt to “own robots” that is own the automation, own the capital. The safest way to do that is through diversified stock investments (and throw in some non-equity for stability and balance). Owning your own business can work certainly but is riskier.

Yes corporate profits as a share of GDP are up. So, if labour can’t beat the capitalists, they must try to join the capitalists.

(Those who have no money to join will say, however, if you can’t join ’em, beat ’em.)

Governments may look after those on low incomes (Maybe). But given that GDP is largely created by capital these days, you would be foolish indeed not to try to own some if you possibly can. The rewards to capital are going to continue over the long term.

#260 InvestorsFriend on 01.11.18 at 2:42 pm

Where Does Consumer Income Come From?

It’s often assumed that consumers get their money from wages.

But what protion of cash income comes from capital in the form of dividends, capital gains on stocks, capital gains on houses, income from small business that is derived more from capital than the labour of the owner?

Also a large hunk of consumer cash, a HUGE hunk, comes from transfers from governments including Old age pension.

Another big chunk comes from pensions including CPP, government defined benefit plans and private pensions.

How has this composition changed over the years? I suspect the dependence on wages as such is WAY down. It is still crucial but I think the percentage is down?

#261 IHCTD9 on 01.11.18 at 2:42 pm

#243 Expat on 01.11.18 at 1:01 pm

Ignore the woe and doom conservatives. They always howl when minimum wage goes up. They always make scary predictions. And they’re always wrong.
______________________________

This Neandercon makes a scary prediction that the prices will go up, jobs will be lost, taxes will go up, and poverty will increase instead of decrease.

I am always correct.

Every time.

#262 PastThePeak on 01.11.18 at 2:48 pm

#224 Iconoclast on 01.11.18 at 11:24 am
Prediction: In six months we’ll see the introduction of the new “Tim’s Express Convenience Kiosk”.

It’ll look like the McDonalds ordering kiosk, but it will dispense your coffee on the spot. Humans will only be needed to keep the coffee hoppers full.

There go half the counter jobs. Ta-daah!
+++++++++++++++++++++++++++++++++

That is a great idea, and one which I wish Tim’s was pursuing. Not that I deliberately want to put anyone out of work, but the lineups at times in store are just beyond slow (often because workers call in “sick” and staff is short changed).

Unfortunately, my son who works at local Tims, has said the mgmt did not indicate any such automation was coming down the pipe. We can always hope. Tim’s of course as the mobile app for order and pickup, which in some ways is better if you can think about it ahead of time.

I use the self service kiosk at McD’s all the time. If there is anymore than 1 person ahead at the “human cashier” line, then it is definitely faster (even though the user interface at those kiosks is not very good). McD’s was definitely out in front on this one – there are less front line staff with the kiosks now than there were before – usually just 1 when there used to be 2-3.

Only the Loblaws around me as the self-service checkout, and it doesn’t support beer/wine yet. I still use it most of the time, though if a lot of produce will go to a human if lines permit. This is only the start though – expect most to have further automated checkouts by end of year.

#263 Dan on 01.11.18 at 3:01 pm

Always on the side of the rich, eh? It is ingrained in your genetics as well in genetics of your dogs, I guess.
But you remember that a capitalist is a person who would sell you rope, which can be used to hang the bastard. Oh, how beautiful they swing….. Strange people.. Older Trudeau loved fascists in his youth, his son use as a foreign minister, a women whos grandpa was Nazi propagandist and to people who point to that she says it is attack on Canada…. Trashy all around but then PT2 went to lecture Chinese on human rights matters. He who represent a so called country which legacy is genocide against native people. As Dostoyevsky said: Everithyng is possible where is no God…

#264 IHCTD9 on 01.11.18 at 3:04 pm

#231 Polina on 01.11.18 at 12:03 pm

How to hold them accountable?

___________________________

Don’t vote for the Libs or any left wing pro big government party. Go for a Trump type. That’ll fix the problem in 1/100 the time it would take going through the “proper channels”

Tossing a hand grenade through the window tends to clear out a room quick.

#265 PastThePeak on 01.11.18 at 3:05 pm

I do agree with all those talking about not counting Wynne out for the next election. While it is still an outside chance, the Wynne Liberals are master campaigners and know that all that matters are the promised goodies. I give it about a 40% chance of a Liberal minority. Which is about the same I give for a PC minority, with the rest of chance NDP minority.

It doesn’t matter. Most likely it will be a minority gov’t, which doesn’t accomplish much but increased spending. All 3 parties are promising higher spending (no cuts), and no real changes to the electricity disaster. Brown & the PC’s are likely still the best choice, as at least changing hands would flush some corruption out (for awhile).

While Wynne will brag about balancing the budget for the election (or even a small surplus), that of course is only due to extreme financial engineering which looks at the operating budget only. Large capital expenditures are spread over multiple years, though large capital gains like Hydro One share sales are recognized immediately. And that doesn’t even touch the debt for the hydro relief plan, which is in a crown corp.

We are probably less than 2 years from the next recession – depending mostly on what the US Fed does (if it cranks up rates due to Trumpy’s inflationary tax cuts). Ontario is heading back into operating deficit regardless, as the Hydro One asset sale ends. In the next recession, small deficits will become very large ones, especially with the hit on overpriced housing and the taxes that it has brought in. Expect a credit downgrade at that point – higher interest on new debt even if the BoC reduces rates in the recession. And ever growing debt servicing costs.

400B debt (including this off balance sheet hydro debt) within 5 years is a certainty at this point – could be sooner. Then 500B is an even shorter timeframe away.

There is nothing on the horizon which will stop this. Any party that tries will be crucified – the public will not accept it – and the other two parties will happily pile on. The electricity issue is becoming structural – not sure what could really fix this even if a government wanted to.

#266 Overheardyou on 01.11.18 at 3:11 pm

#198 Canada 2018 on 01.10.18 at 6:07 pm

“Sideshow Bob a.k.a. SCM and his buddies will run the show from Vancouver to Halifax.”

Nope. There is a silent majority of us older millennials who are busy working 6-7 day weeks, trying to better ourselves, and trying to navigate this world.

As they say,

If you are young and not liberal, you don’t have a heart. If you are older and not conservative, you don’t have a brain.

MF

—–

Couldn’t agree more! Work hard, Try and fail and one day you’ll be successful. Just don’t give up.

#267 LivinLarge on 01.11.18 at 3:25 pm

“anyone who thinks cutting a business’ net income by a minimum of 18% overnight is no big deal is either a billionaire or hasn’t a clue.”…if I type very slowly do you think you just might comprehend???

IT WASN’T OVERNIGHT. Everyone not in a persistent vegetative state knew for many months that this was coming, when it would take effect and precisely how much the increase would be. So, they didn’t take prudent action to deal with the increase. Just bad management.

If this was sprung on them with very short notice I would be objecting right along with them but it wasn’t. Business is tough…all over but I don’t think anyone gets into running their own business with the intent to actually make less money (eventually) than they earn being an emplyee currently. If they do then they’re candidates for mental health tests.

No different than when a business’s supplier says “sorry, costs are up on this end and your widget is increasing by %18 in six months”. If the business ignores that and don’t also raise their retail price then they’re just bad managers/owners and their fate is in their own hands.

#268 Gravy Train on 01.11.18 at 3:37 pm

#257 Deplorable Dude on 01.11.18 at 2:14 pm
“It’s gonna be a laugh at the next election; the Dem’s platform will [be] to raise taxes……lol….”

No, it will be to a) cut taxes on the middle class, and b) restore the taxes on the top two-tenths of one-percent of income earners.

#269 Screwed Canadian Millenial on 01.11.18 at 3:44 pm

Boy those Trump tax cuts sure are working

Walmart is abruptly closing 63 Sam’s Club stores and laying off thousands of workers
http://www.businessinsider.com/walmart-suddenly-closes-sams-club-stores-2018-1

AT&T to cut about 4,600 jobs
http://abcnews.go.com/Business/story?id=4690197

Companies that announced big bonuses after GOP tax cut are now laying off their workers
https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/

#270 PSA on 01.11.18 at 3:46 pm

Public Service Announcement:

Tomorrow, the Teranet Dec numbers will be published.

It will tell you *exactly* what the houseprices did three or four months ago.

I expect Van and To both down from last month.

https://housepriceindex.ca/

#271 Expat on 01.11.18 at 3:55 pm

@218 Ezzy: Boomers are the least educated, highest paid generation in the workforce.

And they are the generation that famously rotted their brains with a decade of drug abuse.

And they have always enjoyed a higher standard of living than their kids, despite their relative lack of education and substance abuse.

So please spare us the preachy Boomer lecture.

#272 Lee on 01.11.18 at 4:02 pm

Bitcoin has now lost about 35% percent of its value from its peak in about two months.

#273 JRT on 01.11.18 at 4:09 pm

No dogs today? Most (not all) guys with man-buns are soy-boys. A “manbun” only works if you are a Sumo Wrestler.

PS All you socialists, move to Venezuela or N. Korea while it’s still socialist before they eventually abandon it. The left has never forgiven Russia for getting rid of the Soviet Union.

#274 Expat on 01.11.18 at 4:09 pm

@263 IHCTD9: Nonsense. The states and provinces with higher minimum wages have higher living standards.

If you disagree, I would encourage you to move to the free market paradise of Kansas, where you can see the results of the wage suppression and right-wing financial experiments that you support.

#275 Giver - AB on 01.11.18 at 4:13 pm

We have a Canadian example of a sharp increase in min wage to use as a case study.

BC increased minimum wage from $8 to $10.25 between Apr 2011 and May 2012. For those of you keeping score, that’s a 28% increase in 13 months. Fairly predictably the Fraser Institute went ballistic claiming 52000 lost jobs would result.

“A recent Fraser Institute study estimated that if the B.C. government succumbs to calls from unions and other activists to increase the minimum wage rate to $10 an hour from the current rate of $8, the province would shed upwards of 52,000 jobs.” (source https://www.fraserinstitute.org/article/hard-facts-about-bcs-minimum-wage)

From 2010 to 2012 the BC unemployment rate went from 7.7% to 6.8% and provincial GDP rose steadily from 205B in 2010 to 221B in 2012. (sources below).

I’m fully aware that this is a very high level look at things and there were probably some tough times adjusting for businesses. But the economy adjusted and increasing the minimum wage didn’t crater the provincial economy.

I think ON is going to be OK.

Unemployment rate source: http://www.stats.gov.nl.ca/statistics/labour/pdf/unemprate.pdf

GDP growth source: https://www2.gov.bc.ca/gov/content/data/statistics/economy/bc-economic-accounts-gdp

#276 LivinLarge on 01.11.18 at 4:15 pm

Yesterday a friend who is a real estate agent sent me a link to an article in the Star business section. Apparently Royal LePage released a report that across Canada house prices went up 10.8% in the last quarter of 2017.

Who do we believe. Who do we believe????

There are a few ways (beyond straight lying) that could result in such a result. One is a huge drop in Q3 followed by a 10.8% bounce back but I didn’t see any explanaition of how they measured the stats so I’m just guessing there.

Certainly, Royal LePage have a vested interest in not creating a study that say “the sky is falling, the sky is falling” but they also have a similar interest in not boldly lying too.

Curious.

#277 jess on 01.11.18 at 4:32 pm

#271 Screwed Canadian Millenial on 01.11.18 at 3:44 pm

Megabanks. The Trump administration has waived part of the punishment for five megabanks whose affiliates were convicted and fined for manipulating global interest rates. Deutsche Bank, which is owed at least $130 million by Trump and his business empire, got one of the waivers. Financial firms whose affiliates have been convicted of violating securities statutes are effectively barred from managing retirement savings, but that punishment can be avoided with a waiver from the U.S. Department of Labor. The Obama administration extended one-year waivers in 2016 to Citigroup, JPMorgan, Barclays, UBS and Deutsche Bank. The Trump administration gave five-year exemptions to Citigroup, JPMorgan and Barclays and three-year exemptions to UBS and Deutsche Bank.

http://www.ibtimes.com/political-capital/trump-administration-waives-punishment-convicted-banks-including-deutsche-which

Trump said: “I’m not going to let Wall Street get away with murder. Wall Street has caused tremendous problems for us. We’re going to tax Wall Street.” — Jan. 9, 2016 in Ottumwa, Iowa.

DFS FINES DEUTSCHE BANK $425 MILLION FOR RUSSIAN MIRROR-TRADING SCHEME
The Bank Allowed Traders to Engage in a Money-Laundering Scheme Using “Mirror Trades” That Improperly Shifted $10 Billion Out of Russia
DFS Directs Bank to Hire an Independent Monitor to Review and Report on Its Existing Compliance Programs, Policies and Procedures

http://www.dfs.ny.gov/about/press/pr1701301.htm

gerrymandering
North Carolina Is Ordered to Redraw Its Congressional Map

#278 Ole Doberman on 01.11.18 at 4:33 pm

sounds like Brett Wilson still playing Canadian RE:

https://www.bnn.ca/delusional-naive-or-stupid-brett-wilson-slams-canada-s-trade-tactics-1.965201

#279 Brett in Calgary on 01.11.18 at 5:09 pm

#259 Guy in Calgary on 01.11.18 at 2:25 pm

Anyone that thinks the boomer generation did not have an advantage over the millennial generation is simply delusional but I digress…

No representation for fiscally conservative lefties in this world. Or this blog. I think we are the ones eating the popcorn waiting for all this to blow over.
———————————————————
Agreed. My some measures I am a millennial, by others I am Gen X, but yeah I feel you.

#280 Gravy Train on 01.11.18 at 5:10 pm

#261 InvestorsFriend on 01.11.18 at 2:32 pm
“… I agree with the hike to minimum wages although I worry $14 and $15 could be too high for rural areas. But overall, I am in favor.

“I agree with lower income taxes, even outright credits for those working on low wages. Buffett favors that approach called in his country ‘the earned income tax credit’).”

Buffett is opposed to hiking the minimum wage.

He wrote: “… I may wish to have all jobs pay at least $15 an hour. But that minimum would almost certainly reduce employment in a major way, crushing many workers possessing only basic skills. Smaller increases, though obviously welcome, will still leave many hardworking Americans mired in poverty.

“The better answer is a major and carefully crafted expansion of the Earned Income Tax Credit (EITC), which currently goes to millions of low-income workers. Payments to eligible workers diminish as their earnings increase. But there is no disincentive effect: A gain in wages always produces a gain in overall income. The process is simple: You file a tax return, and the government sends you a check.

“In essence, the EITC rewards work and provides an incentive for workers to improve their skills. Equally important, it does not distort market forces, thereby maximizing employment….”
https://www.wsj.com/articles/better-than-raising-the-minimum-wage-1432249927

#281 NoName on 01.11.18 at 5:14 pm

#250 IHCTD9 on 01.11.18 at 1:53 pm
#224 Iconoclast on 01.11.18 at 11:24 am
Prediction: In six months we’ll see the introduction of the new “Tim’s Express Convenience Kiosk”.
It’ll look like the McDonalds ordering kiosk, but it will dispense your coffee on the spot. Humans will only be needed to keep the coffee hoppers full.
There go half the counter jobs. Ta-daah!
_______________________________________
Put ’em in the drive thru, make it 5 lanes. That’ll do in just about every job in the building plus double the regular clientele.

—-

Few days back I was at McD, and notice few things, young people use kiosk and older one place an order on counter and “jump” line few spots because when they “tap” pay. seing kids faces when they realize dat old dude is before them, funny…

But that is not what is interesting, overheard store manager talking to some person next table about old store both of them worked from somewhere in mississ… they both recalled almost equal number of “production” staff and people taking orders, while now there is a push to have more production stuff and use an app to order and store will start “assembling” buger as car/person gets certain distance to store, I am assuming that app order is prepaid.

#282 jess on 01.11.18 at 5:18 pm

Peter Hoekstra, the newly minted U.S. ambassador to the Netherlands, held his first conference with the Dutch media at his new residence in the Hague on Wednesday.

It did not go well.

Dutch journalists peppered Hoekstra, who became Trump’s ambassador after serving 18 years as a Republican congressman from Michigan, with questions on unsubstantiated claims he made in 2015 about the chaos the “Islamic movement” had brought to the Netherlands.

“There are cars being burned, there are politicians that are being burned,” he had said at a conference hosted by a conservative group. “And yes, there are no-go zones in the Netherlands.”

The comments have widely been described as inaccurate, and reflect certain conspiracies about sharia law that crop up in some circles of the far-right in the West. When pressed by the Dutch reporters, Hoekstra declined to retract the comments or give specific examples to back them up.

In fact, after saying that he would be “revisiting the issue,” he simply refused to answer the question at all…’

http://www.chicagotribune.com/news/nationworld/politics/ct-us-ambassador-netherlands-hoekstra-20180110-story.html

#283 Ezzy on 01.11.18 at 5:27 pm

#244 Howard : LMAO handed a good life on a silver platter? For real? By whom? Maybe some other time my friend. As much as Boomers are to be blamed for some of the maladies afflicting our society they also deserve praise for some of the things we completely take for granted, every, single day.

#273 Expat

“Boomers are the least educated, highest paid generation in the workforce” // yet, in general, they’ve somehow managed to succeed at life and complain less about it. Formal education doesn’t mean as much we like to think it does, not even in today’s world.

“And they are the generation that famously rotted their brains with a decade of drug abuse” // really now? Drug use? You’re going to be critical of Boomers for drug use while conveniently overlooking the rampant use of very powerful drugs by young people today? Narcotics (and other drugs) are not limited to an age group. Try again.

“And they have always enjoyed a higher standard of living than their kids, despite their relative lack of education and substance abuse” // No. Sorry. Troll again. Their work conditions were not as good as ours are now. They did not have the vacation time, flex time, sick time, mental health time, nor benefits that we do now. Don’t bother mentioning unions because when compared with their forebearers they’re still better off now. At least those still employed by them. Nor was the Healthcare, of any kind, better than now. In general, society was much rougher on employees than it is now, and I’m not complaining about that one bit. I’m glad we have an easier time of it. But we do have Boomers and Generation X to thank for that. Not us. We reap the benefits.

Personally, I don’t get why Gen Y is so angry anyways? What is it exactly that we’re lacking? This almost always seems to boil down to one thing, an inability to afford housing in a major metropolitan area. Well, sorry, I don’t own a residence in the GTA either, and I couldn’t care less. There are more important things in life. Nevertheless, I’m almost positive that if Gen Y had the same rate of ownership there’d be little to complain about.

Even though I fall within Generation Y I fall outside of the what-about-me attitude. If I could use just one word to describe our generation it would be sanctimonious.

“So please spare us the preachy Boomer lecture.” // Not really anything preachy about my few paragraphs, but sure I’ll do that when you stop being critical of a generation that did it’s best, at least as much as any other has, or will.

#284 maxx on 01.11.18 at 5:30 pm

#256 Bhad Bhabie ( PG-13) on 01.11.18 at 2:08 pm

You need remedial reading classes and you waste far too much time trying to be cute. ee cummings you are not.

“Word out of Washington” does not yet equate to a done deal.

#285 conan on 01.11.18 at 5:40 pm

#189 Howard on 01.11.18 at 8:03 am

“The Liberals will likely win the next election but it will happen by taking NDP seats in Quebec since Quebeckers are racist. That’s the reality.”

Fair enough. My version of reality shows the Liberals gaining/holding seats in every Provence. You are correct in your assumption that Quebec will donate the most seats to the Liberals. Don’t agree with the racist part. Plenty of Provinces are worse then them in that regard.

#286 Linda on 01.11.18 at 6:09 pm

#163 ‘Fake News’ – sorry to hear your son needs an MRI. Regarding the wait times, keep in mind that there is an infinite demand for limited resources. Those machines are booked 24/7 & are in continuous use unless they are 1) down for maintenance or 2) not operating due to budget cuts so that there are neither the skilled techs or the money to run them. Hence the opportunity to pay $1,000 to have an MRI without the wait time. Which, BTW, is what you can do in the USA all the time. Also, in the USA you can be bankrupted by illness (& laws were passed so you can’t escape the debt by declaring bankruptcy). Last I looked, a Canadian citizen was not forced to choose between having a treatment (however delayed or inadequate) or financial ruin.

#287 maxx on 01.11.18 at 6:17 pm

#239 Ed. on 01.11.18 at 12:31 pm

“I believe Ms Bhabie was employing “incongruity” in her poetry. It certainly would have been better if she owned a different coffee maker, but staying true to one’s life when imitating art is laudable in itself. N’est ce pas?”

Pas tout à fait. Staying true to one’s life when imitating art, or performing it honestly requires abandoning double standards.
Exacting a standard of rhyme from others you don’t also apply to yourself would be ah, a form of incongruity in itself. N’est-ce pas?

#288 LivinLarge on 01.11.18 at 6:20 pm

Gravy, I don’t disagree with you one bit. Get your MPP and MP to start the movement with a private member’s bill and I’ll start a letter writing campaign to support it and hound my MPP and MP to support it too.

#289 Kozman on 01.12.18 at 1:26 pm

#118 – Adrian.

a little late responding. But great post!
i have only been a server and bartender while in University (and recognize how hard that was). But never managed/owned.

good insight.