Maybe podcasts are more your thing. If so, @robyndoolittle.bsky.social and I have a hot one for you today
On today’s Decibel: The violent incidents and menacing texts targeting waste giant GFL
podcasts.apple.com/ca/podcast/t...
On Thursday, police charged a construction executive over shootings targeting waste giant GFL
Turns out @robyndoolittle.bsky.social and I have been talking to him for the past year, allowing us to tell the inside story behind the dramatic arrest
www.theglobeandmail.com/business/art...
A year and a half after a masked gunman fired on the homes of two top executives connected to GFL Environmental Inc., Toronto police have charged a man who they allege is behind the shootings
www.theglobeandmail.com/canada/artic...
It's just like the '08 crisis, in a way. You can try every tax incentive or complicated program imaginable, but straight up cash works best
TARP was way too complicated so banks got capital. And now we're giving cities cash to lower development fees
www.theglobeandmail.com/canada/artic...
Things went great for a decade. But returns since 2020 are far lower than the TSX -- and now investors could be trapped for years
www.theglobeandmail.com/business/art...
I cannot tell you how many retail investors -- even accredited ones -- reach out with basic questions about redemption halts. Many have no idea it's allowed
The latest case: Toronto's Kensington Capital, which set out on a mission to broaden investor access to PE
Everything is out of the ordinary lately, but his full statement is remarkable
They're not even hiding it
The Defense Secretary at the Pentagon just now as he criticizes coverage from CNN: “The sooner David Ellison takes over that network, the better.” - from Liz Landers at PBS
You don't see this often. Shares of GoEasy, a Canadian lender to subprime borrowers, are down 57% today
Rising loan losses. Suspended dividend. Withdrawn financial projections.
www.theglobeandmail.com/business/art...
John Risley, the seafood magnate, got in bed with private credit giant HPS, and they’re taking everything in his flagship holding company
He owes HPS US$776-million, and is paying 28% annual interest in kind. He’s also got a $331-million tax bill from the CRA
www.theglobeandmail.com/business/art...
Dubai was the top destination for millionaire migration last year. Stability and political calm were a big reason for that
This weekend threw that promise into question. And it puts the Gulf, which has become a hub of global capital, in a new light
www.theglobeandmail.com/business/art...
The narrative around North American free trade isn’t pretty, so it was refreshing to hear Dom LeBlanc’s counter yesterday
There’s a “public prosecution” of free trade, he says. But, actually, behind the scenes the talks are quite cordial. Even “very friendly”
AI may not be propping up the US economy nearly as much as you think
The skinny: When calculating GDP, only the portion that is produced/manufactured in the US counts. With AI, a lot of the inputs, like chips, come from other countries
www.washingtonpost.com/technology/2...
But that can’t be the end of the story, because when it comes to Alabama, many Canadians would be floored by what’s happening there
One teaser: Alabama now produces nearly as many vehicles per year as Ontario
The idea has lingered for years, so it was time to investigate. Because if it's real, it has major implications for Canada’s standing on the global stage
On per capita GDP: It was quickly clear that its usefulness is hotly contested. No single data point can measure a country’s wellbeing
The argument started flying around economic circles in 2023 because of some number crunching that measured per capita GDP for every Canadian province and every U.S. state.
It took on a life of its own in 2024 when even The Economist wrote about it
For the past few years, I’ve been dying to know: Is Canada seriously poorer than Alabama?
So, some answers:
www.theglobeandmail.com/business/art...
“The 6-3 decision, released Friday, is a major rebuke of the President on a signature economic policy. However, it’s only a partial – and likely temporary – setback for the administration”
www.theglobeandmail.com/business/art...
Picking Victor Dodig, who, by coincidence or not, also worked with Telus board chair John Manley when the latter chaired CIBC’s board, brings back all the whispers about Canada’s old boys club.
www.theglobeandmail.com/business/com...
Of all the questions swirling around Telus Corp’s CEO shuffle, and there are many, two stand out.
The first: Was there really no one else? And, second, if that’s true, why not?
The surprise share sale, announced Tuesday, is designed to fix the balance sheet, but it's heavily dilutive
The problem: It had to be done because of the threat of a debt rating downgrade. No good options.
All makes for a scenario where no one's happy
Allied Properties REIT is now trading below its 2008 financial crisis levels. There's too much debt, and the Westbank development partnership played a big role in that
www.theglobeandmail.com/business/art...
A very good read. There's also another way of saying this: The rich get richer. Which is why the resentment keeps growing
www.wsj.com/economy/jobs...
The deal is being sold as an age-old 're-rating' opportunity, but both companies have development assets coming on stream this year, and that alone should have helped with re-rating
t's an all-Canadian mining deal, for one of Ottawa's 'major projects,' no less. And yet both miners' shares have tumbled on the news
Eldorado is buying Foran for $3.8-billion -- at time of announcement -- but investors aren't all that enthused
www.theglobeandmail.com/business/art...
"It’s like if Apple had actually built the long-rumored Apple Car and everything just…worked."
www.wsj.com/tech/persona...
Heated Rivalry is in the lede of Lex
All five developments are either in receivership or have restructured under creditor protection, according to a Globe and Mail analysis, and each of the five projects has borrowed more than $100-million from Romspen
www.theglobeandmail.com/business/art...
Investors in Romspen's $2.7-billion private real estate fund have been trapped for 3 years, and the chances of getting their money out any time soon aren't looking good, according to new intel
Romspen is struggling to recover money lent to 5 “large, complex” projects. 3 are in Canada, 2 in the US
