Consider This (https://consider-this.ca/tag/economy/page/9/)
By Darrell Flewell
Are e-books killing off small town bookstores? I don’t think so. On Jan. 28th, local newspapers reported the advent of e-books creates a challenge for bookstore owners. The article refers to a possible closure of Furby House books in Port Hope. Continue Reading →
Deputy Mayor Stan Front provides council with an update for the budget process. He will be meeting with town staff for the first blush at the numbers this week. (more…) Continue Reading →
By Deborah O’Connor
New mortgage rules announced this week from federal Finance Minister Jim Flaherty may make it tougher for some on the edge of home ownership to make the plunge, but it’s just tinkering with a system already well protected by changes made since 2008. The newest moves certainly won’t open the door to home ownership for the poor, but it may put the brakes on current homeowners for those hankering for the latest shiny toys. The danger is this drives them deeper into debt. The rules were tightened in 2008 to protect us from assuming mortgages we really can’t afford. Then, it became mandatory for buyers to have a minimum 5per cent down payment, and amortization times were decreased from 40 years to 35. Continue Reading →
By Darrell Flewell
The arrival of Target Corp to Canada is touted as positive economic news on a national scale. The patriotic ego of discount retail shoppers in Cobourg who have chosen to stick with Zellers over Wal-Mart, will initially suffer a significant blow if our local Zellers store is on the list of stores to be converted or closed. On January 13, the Hudson’s Bay Co (HBC) issued a remarkably short press release stating Target Corp paid C$1.825 billion to acquire up to 220 Zellers real estate leases. HBC is a conglomerate operating The Bay, Zellers, Home Outfitters, and Fields. Note Zellers as a business has not been purchased. Target Corp plans to reopen 100 to 150 stores in 2013 and 2014 as Target outlets. (more…) Continue Reading →
The issue of transparency in local government dates back to the earliest days of Cobourg. In 1831 edition of the Cobourg Star, one of the first and longest serving newspapers for the community, a letter to the editor refers to the need for a more open council. Not much as changed in 180 years. Still, municipal councils appear to get away with a lot because the public is ignorant of the rules and nobody really holds politicians or bureaucrats accountable. The issues made the pages of local newspapers this week as Port Hope council circulated its justification for closed door or in-camera meetings. Continue Reading →
Ontario Premier Dalton McGuinty’s announcement of a $7-billion deal allowing Samsung Group and a Korean utility to build 2,500 megawatts of solar and wind farms in Ontario last week may appear on the surface to be good news, but it is problematic in many ways. There are definitely winners. Samsung gets cash incentives, a toehold in the competitive North American market, and the right to sell power into the electrical grid at guaranteed preferential rates. McGuinty gets political mileage for becoming the leader in green energy in North America, along with 16,000 jobs in five new plants being built to manufacture solar and wind turbine parts. But, there are lots of losers, too. Continue Reading →
A steady trickle of economist, politicians and pundits are telling Canadians the recession is over, at least technically. Prime Minister Stephen Harper gave his state of the economy speech in St. John to
Bank of Canada Deputy Governor Timothy Lane announced the economy was puling out of the recession and the American Federal Reserve Chairman Ben Bernanke, among others, have joined a growing chorus of cheerleaders. This is based on a number of indicators, which show increases in key performance indicators, stability in the American banks; as well, the feeling of improvement is propped up by gains in the stock markets, as investors slowly see their dividends returning at greater rates. And to add to the boisterous tone, a Nanos Economic Monitor poll released last week said Canadian are experiencing levels of economic optimism no seen in nearly two years. It seems the pollster, economists, politicians and pundits must be talking to each other because they are certainly not talking to 486,000 Canadian who lost full-time jobs since the recession began a year ago. Continue Reading →
While some may enthuse about Prime Minister Stephen Harper’s efforts to secure a new trade deal with Panama last week, there continues to be a growing concern over the lack of transparency and consultation.This marks the fifth such agreement the Conservative government has signed since taking power. The others are with Norway, Switzerland, Colombia, Peru and Jordan. And, it comes at a time when tension is rising between Canada and the United States over Buy American provisions that keep Canadian suppliers from bidding on local and state government procurement contracts funded by the stimulus package. Northumberland County keenly felt the sting of the North American Free Trade Agreement in 1993. Since then, we have watched our manufacturing base disappear. Continue Reading →