While the report still forecasts both economies to stay above water -- if barely -- Global Insight's managing director Dale Orr said last week's "quite discouraging" employment numbers in the U.S. and weaker industrial production make "us more concerned than we were a month ago. Global Insight says the most likely scenario is that Canada's economy will grow 2.2 per cent this year, a little better than the U.S.'s 1.9 per cent. Both would be the worst economic performances since 2003.
Many companies can prevent corporate fraud by knowing the warning signs of fraud and initiating measures to stop its practice. Internal fraud can be committed by top management, middle managers and employees. KPMG's 1993 survey of Canada's 1,000 largest companies revealed that 56% of respondents are burdened with fraud problems. Forensic accountants attribute the high number of cases of fraud to the economic recession. They also indicated that weak management controls and poor corporate ethics among employees contribute to fraud.
[...] while lower fees are a good first step, we believe that the larger issue at stake -- at least for the Canadian tourism industry -- is the global economic recession which hit U.S. citizens much harder than their Canadian counterparts in the form of massive job losses, bank and lender failures and mortgage defaults.
The pickup truck explosion that started in the postwar 1940s led Ford to design a Ute for the North American market. Released in the fall of 1956 was the new 1957 Ford Ranchero. All new from the ground up, the '57 Fords were nothing like their predecessors and the Ranchero was a welcome addition. Based on the chassis from the two-door Ford Del Rio station wagon, the Ranchero looked like a wagon with the rear roof section cut off, allowing access to an ample bed for cargo. With production just under 22,000 units in '57, the Ranchero was a definite hit. For '58 sales dropped to under 10,000 units, largely due to an economic recession, and would see a recovery to over 14,000 units for the 1959 model. This would also be the final year the Ranchero would ride on the full-size Ford chassis as...
Selling prices were up in all five other Winnipeg neighbourhoods surveyed. And the Winnipeg market as a whole rang up increases of between 2.4 per cent and four per cent, depending on the category of home (bungalow, two-storey or condominium). Royal LePage spokesman John Froese pointed out that even in the three neighbourhoods that were negatively affected, the price declines weren't across the board. River Heights, for example, saw increases in selling prices for both two-storey homes and condominiums. Froese said what the survey results show is that even Winnipeg's resilient housing market isn't immune from the fallout of a global economic recession. But they also show it's weathering the storm better than most.
Winnipeg Modern: Architecture 1945-1975 is a collection of learned essays edited by the University of Winnipeg art historian Serena Keshavjee, designed by the University of Manitoba architecture professor Herbert Enns and published by the U of M Press. The WAG's exhibition, which Enns and Keshavjee curated, has been up since Aug. 12, but the formal opening takes place Thursday at 7:30 p.m. They'll be launching their book that night, and the show will remain on view through Oct. 29. This is meaningful, given that Winnipeg has got used to thinking of itself as a city perpetually mired in economic recession. From the end of First World War, through the Depression and the Second World War, things were as stagnant as they were in the '80s and '90s.
In a recent news release, the Canadian Coalition for Action on Tobacco urged the same thing. Regarding the federal government's losses, Garfield Mahood, the executive director of the Non-Smokers' Rights Association stated, "In this time of economic recession, a time when governments are desperate for revenue, it is critical that the government recover over a billion dollars in unpaid tobacco taxes. There is more to this story. Illegal cigarettes are falling into the hands of young people. A 2008 study commissioned by the Canadian Convenience Store Association found that 30 per cent of cigarettes butts found outside high schools in Ontario and Quebec are illegal. It is clear that teenagers are getting these cheap cigarettes. A teenager can buy 200 illegal cigarettes for as little as $6,...
The Canadian Federation of Independent Business (CFIB) and the Winnipeg Free Press recently called on the Manitoba government to abandon a policy established in 1999 of mandating annual increases in the minimum wage. The CFIB says an increase in the minimum wage now would hurt some small employers. The WFP concurs. After the NDP was elected in 1999 it removed the arbitrariness from the process and instituted annual increases in the minimum wage. Its reasons included a desire to reduce poverty by raising the wages of the working poor, and to eliminate the uncertainty associated with the process. The government also recognized that increases in the wages of low-wage workers would stimulate local economic expansion. Currently, the effects of the global economic recession are intensifying i...
In what must rank as the most nonsensical excuse at the worst possible time for the nation's fifth $300-million election in nine years, Ignatieff has backed the trio of opposition parties into a very tight corner with the government's takedown next month as their only obvious escape. Try as the Liberals might to articulate some high-falutin' ballot box question, any fall election will be a referendum on recession economic management, setting it up as a showdown between Conservative optimism at the budding recovery versus Liberal negativity that the worst is yet to come.
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