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COVID ‘blank cheque’: Report finds large corporations spent billions on dividends and share buybacks while receiving government wage subsidies
Friday, February 10th, 2023
Canadians For Tax Fairness found 37 corporations that had received the Canada Emergency Wage Subsidy and spent a total of $81.3 billion on dividends, $41.1 billion on share buybacks and $51.1 billion on taking over other companies… up to $9.9 billion may have gone to companies which weren’t eligible to receive it… some kind of clawback mechanism is needed, either for this time around, or when designing future programs.
Tags: budget, economy, Health, privatization, tax
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Business groups frustrated as sick leave debate carries on
Wednesday, April 28th, 2021
While businesses — and some governments — are inclined to focus on the upfront cost of providing paid sick leave, there are solid business arguments to make for supporting it… “You can be closed down if there’s an outbreak. That’s a huge cost for a business”… Slowing COVID’s spread will also make it possible for the economy to open up sooner and more reliably…
Tags: budget, economy, Health, ideology, standard of living
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Men living in Toronto haven’t seen their wages increase since 2000, according to new StatCan study
Thursday, January 16th, 2020
… especially in cities that bore the brunt of the decline in manufacturing jobs, such as Toronto, Oshawa and Windsor. Between 2000 and 2015, men’s wages were flat or in decline in those cities, even as wages for men across Canada rose by an average of 13 per cent. The study found minimal effect on women’s wages… because the manufacturing industry has traditionally been dominated by men.
Tags: economy, ideology, standard of living
Posted in Delivery System | No Comments »
Many companies are choosing to underfund pensions even though they have the cash, study finds
Thursday, August 29th, 2019
The study found that in 2017, the 90 defined pensions were collectively underfunded by roughly $12 billion. The companies responsible for those pensions, meanwhile, paid out $66 billion in dividends to shareholders — more than five times the amount it would have cost to fund the pensions… “Shareholders are supposed to take on the firm’s risk. Instead, that risk is being shouldered by workers whose retirement security is compromised by outstanding pension deficits.”
Tags: economy, ideology, pensions, rights, standard of living
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Jim Stanford on Uber and the future of precarious work: ‘It isn’t inevitable’
Monday, July 8th, 2019
… we should be continuing to invest in skills and the knowledge infrastructure… But we also need to be actively nurturing the jobs that people with those skills can most productively do… They only came to Canada because smart policy interventions brought them to Canada. We hustled for them, and we put in place rules. We said to a company like Boeing, for example, ‘you want to sell a bunch of extremely expensive aircraft to Air Canada? Well, you’re going to have to produce something in Canada.’
Tags: economy, globalization, ideology, participation, standard of living
Posted in Debates | No Comments »
New rules for executive pay
Monday, July 25th, 2011
Jul 22 2011
…Canadian Securities Administrators — the umbrella group including 13 provincial and territorial securities regulators —Friday unveiled new rules on executive compensation, beginning in October… Requiring the boards of publicly-traded companies to show they’ve considered the risks of how much they’re paying their executives, such as whether the CEO’s pay packet is so high that their personal interest isn’t aligned with the shareholders’. Also, companies must now disclose the fees they’re paying to outside compensation firms.
Tags: economy, ideology, rights, standard of living
Posted in Policy Context | No Comments »
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