The Rocket

1 hour ago, xtralettucetomatoe580 said:

Rent for 6 months to a year. I’m in position to sell my place for $90k more than I bought it for in May of 2016. Spend $10k renting a year while not paying property taxes so spend a total of $4000. Wait till prices drop and buy again. No brainer. It’s not avoiding the crash haha. Hoping for it. 

Likely a mistake but I wish you luck. 

12 minutes ago, 1trailmaker said:

that is what I have said since day one,  this shit about 500 people being caused by wage increase is utter bullshit

glad you agree

What is utter bullshit is you thinking a company like Loblaw can be hit with $150 million in increased wage expenses and that they wouldn’t make cuts to offset it. 

You can thank the Liberals for these job losses  

9 minutes ago, 1trailmaker said:

no doubt higher prices of less than 2 cent an item sold -

The comment was from the company itself " no one factor is related to the 500 job loss " 

Yes - price increases to every Ontario consumer also known as inflation. Thanks Auntie Wynne. 

I know you haven’t listened to a lot of company earnings calls or read thousands of research reports. But news flash - companies always spin the truth to fit their narrative. 

7 minutes ago, 1trailmaker said:

so when the COMPANY states no one single factor - you take that as Wynnes fault     okay lets go with WE

Did you read the comments? 

Consequences of min wage hike - 500 lost jobs and higher prices. 

14 minutes ago, 1trailmaker said:

you can look it up and post your findings

 

Oh I understand how it works. Trying to get you above a remedial level of financial literacy.

10 minutes ago, 1trailmaker said:

 

holy fuck balls who is "WE" 

 

I will stick with Utter Bullshit Fake Fucking News

Who do you think it is?  One of the security analysts that cover Loblaw. I can assure you it isn’t fake, it is the real world. 

10 minutes ago, 1trailmaker said:

  ya thats it they are firing 150k workers    utter bullshit you are now spewing without even knowing anyting about it  

Who is left to run things?  all the teens making 25K a year   

 

Will Wal-mart be announcing 5000 jobs gone from head office? 

Yes they are. Execs, management etc. Read and learn. 

According to a Toronto Star article published earlier today, Loblaw will be cutting 500 corporate jobs, including executives, management, and employees that support the retail stores at the corporate level. The layoffs will have no impact on hourly in-store roles, and as a result there should not be a service level impact on consumers. We spoke to Loblaw and confirmed the story. 

• While the company stated that the layoffs were not related to any single factor, we believe the primary purpose of the layoffs is to mitigate the impact of the upcoming increases in the Ontario minimum wage (the first major increase is in January 2018). 

• We previously stated here that we believed the Ontario minimum wage increase in 2018 would have a $150 million pre-tax impact on Loblaw (the company subsequently disclosed the estimated impact from the Ontario and Alberta minimum wage increases to be $190 million in 2018). However, we believe that roughly 50% of that impact could be passed on to consumers through retail price increases, leaving a net pre-tax impact of about $75-95 million. We estimate that the announced layoffs could save Loblaw about $75 million per year on a pre-tax basis. 

• We believe the company intends for the savings from the announced layoffs to fall to the bottom line, as opposed to being reinvested in the business. As a result, we believe Loblaw will largely be able to mitigate the impact of the increase in the Ontario minimum wage in 2018, through the combination of the savings from the announced layoffs and through price increases at the retail level. 

• Due to concerns over the upcoming minimum wage increases and Amazon's acquisition of Whole Foods, Loblaw has lost about one full multiple point in valuation on an EV/EBITDAR

1 minute ago, 1trailmaker said:

no, as stated they already got their money

next?

How did they get their money?  

4 minutes ago, 1trailmaker said:

same goes for your kids?  should they be bashed if they do well with your fortunes?

Are you saying he did nothing, no work, just kind of sat around raking in the money?

 

How about Robbie Ford?  you ranted and raved over him as best ever (like 99% did here for years)

More misrepresentation from you. 

My fortunes? WTF. I’m just a middle class guy - ain’t no fortunes here. And what I end up with won’t change the fact my kids will have to work for what they want. It won’t be given to them. Christ - my wife wrote a 2 page contract that my son had to agree to and sign before he could play rep hockey. If he drops the ball on school, chores or his behaviour he’s done  

I was never a Rob Ford fan. The guy was a clown. 

43 minutes ago, 1trailmaker said:

If he is making that kind of coin, then that must make him a very good business man - something you guys claim can run any country

 

ARe you saying you are WRONG with that assumption?

Lucky sperm club. 

40 minutes ago, 1trailmaker said:

I believe that was profit for the owner (who owns 47%) after all other shareholders and debts paid  but if you can find other numbers do so

 

Are you arguing that Loblaws is in trouble with such low profits?  what are you saying?

No. And what does “after the shareholders are paid” mean?  

43 minutes ago, 1trailmaker said:

so tell me o wise one, what percent of people in the head office are let go?

500 seems like a lot to just get rid of and carry on with regular business =

I think your claim of most of clerical workers make 11.40 an hour -  total bullshit unless this business is run by 16 year olds

The job cuts in head office are not min wage workers. They are being cut to offset the extra cost of the min wage increase. 

The 500 job cuts are supposed to save them $75 million.  So on average their salary/benefits are $150k each. 

Can’t imagine how much pot Fail has smoked listening to the Hip.  

2 minutes ago, 1trailmaker said:

sure why not?

are you think 50 billion investment return?  not the same thing

Margins of 7% - so juicy. Not. 

Min wage increase wipes out almost 30% of their profits. 

But Fail expects them to eat it. 

4 minutes ago, 1trailmaker said:

The store itself stays that is the point

If you are bad at your job cry me a river

Unless the Corp wants it closed or maybe the Corp wants a new fancy store/format. Which means the “dealer” gets to go to a bank and borrow millions of $ to build out and stock a new store. Then work harder for less $ to pay it back. 

8 minutes ago, 1trailmaker said:

Utter bullshit

Franchises are not handed out like candy, they know what they are doing.  Rare for a location to close.

small town FoodLand has issues if near larger towns with Sobey's and No Frills

I have an idea of how they are “handed” out. And Canadian Tire doesn’t have “franchises” - they have dealers. Both them and No Frills can have their stores yanked out from them for non performance. Big difference in the numbers from a well run or poorly run store. CTC guys usually start in less desirable locations and are given the opportunity to move to stores with more profit potential. 

59 minutes ago, 1trailmaker said:

utter bullshit

if they can let go 500 employees at head office they didn't need them in the first place

 

the labour costs are the responsibility of the franchise - this is utter bullshit

Sure they didn’t. What they didn’t need was an additional $150 million in expenses either. 

3 minutes ago, 1trailmaker said:

1,000 corporate and franchise

who knows

my buddy just got a No Frills in Calgary

We lost one of our defense good hockey player his wife just got a CanadianTire in Kenora lol

 

On that note some friends of mine She worked for Walmart got up high Manger of a store then office _ they paid her out and got rid of her because she was making too much = and  the circle continutes

 

 

Good for them. Both are a great way to make $ if run properly. Lots of hard work and risk them though. 

2 hours ago, 1trailmaker said:

any time someone is let go they say the exact same thing, utter bullshit - and the fact this hasn't come in to play yet.

I believe they have 50 billion in sales and profits of 700 million  with 1000 stores and several product lines...... a few cents to each product will more than cover this increase for a company this size.

Who is working in the head office at minimum wage?  500 workers making 15 an hour is 150 million you claim it will cost them - utter bullshit the Corp is spewing

Jobs are being cut to create more profits plain and simple

 

15$ is also becoming the norm in USA too -  are you saying everyone is going to be fired   

The people being fired aren’t min wage workers. The cost savings from the firings will go to pay the increased cost of the min wage workers. Did you just expect them to take the extra $150 million in wage costs up the ass?   

1 hour ago, 1trailmaker said:

Of course it is    yet they will still operate, something tells me these employees are not needed  

 

Current Minimum Wage

Province	Minimum Hourly Wage
Alberta	$12.20
British Columbia	$10.85
Manitoba	$11.00
New Brunswick	$10.65
Newfoundland & Labrador	$10.50
Northwest Territories	$12.50
Nova Scotia	$10.70
Nunavut	$13.00
Ontario	$11.40
Prince Edward Island	$11.00
Quebec	$10.75
Saskatchewan	$10.72
Yukon	$13.00

 

 

Tell the class how Ontario is different than any other province?

Half the country will be 15$ an hour by next 2 years - many states too

And companies will find a way to deal with the increased costs. The increase in min wage is going to cost Loblaw $150 million. These 500 people are losing their jobs as a direct result of cost cutting to help offset a part of that. 

Right/wrong - doesn’t matter. It’s a consequence of the Increased cost to the business. 

Higher prices for all of us are on the way too. 

Loblaw announces the elimination of 500 jobs in their head office. The saving will be used to offset the minimum wage hike cost in Ontario. Thanks Auntie Wynne. 

21 hours ago, Snake said:

We have a beautiful relationship; I pay for services rendered and get a return on my money, they get paid for services.

People do the same thing when they invest in a mutual fund.... putting up money in an entity they may dislike, for a positive return.

Aren't we all about investments making a return?

Do you then project 'benevolence' upon the mutual fund for making you a return? I don't. It's a money making tool. Why project it on a union?

If the mutual fund investor goes around the internet pretending to be an anti capitalist/socialist then he'd be a hypocrite and you'd have a point. 

12 hours ago, DriftBusta said:

You do realize that if we don't forge ahead, we fall behind, correct?  There is a reason we need to remain the biggest swinging dick in the world.....unless of course you want to wax nostalgic about how great your 99 SkiDoo was.  

So you can lose wars to guys that wipe their ass with their left hand and live in mud huts?  

20 minutes ago, DriftBusta said:

C'mon Chris....enough with the cheap shots, puts you in the same league as SnowRider with that shit.  Surely you know the difference between a public and private sector union?

The Teamsters is a pretty powerful and corrupt union. Has to be difficult for a true conservative to swallow their pride and pay the dues and accept their benefits.  

19 minutes ago, Snake said:

I have not opened one correspondence from the union in years. The head man in Maine was a driver with me when I worked in Rockland. As is typical, he was a left wing tree hugging whack job. Nothing he writes to me I need to read.

Well - he's and his kind have gotten you lots of raises and benefits. It's kinda rude to ignore them.  

18 minutes ago, Zambroski said:

Hey, Ponytail....relax.

 I'm much more like Will without the smarts. 

4 minutes ago, Snake said:

"You Americans should.........."

Tell me what the Union newsletter said about the affects of capital repatriation on the EPS growth of the S&P 500.  

Just now, DriftBusta said:

Thats your opinion.  We will see in a couple years I guess.

It's not just my opinion. 

9 minutes ago, Snake said:

Because your idea of a better plan is the Canada plan.... is the correct?

Our plan certainly ain't perfect and never claimed it was. But what it is is Universal where every citizen has care and no one is left uncovered or bankrupted. Just like you and your union brothers - all for one and one for all.  

5 minutes ago, bussman said:

The reality is Republicans never did want to fix it. Their opposition was just for show. Big pharma, insurance and corporate medicine fully owns both parties. Hillary was supposed to win to take the charade to the next level. It's why Trump acting like a dioshit doesn't bother a lot of us, these people are evil fucks. Burn it down. 

I get your anger. But your system is a fucking disaster and every American should be demanding better.