Archived Media Watch Articles

Media Watch # 38, April 24, 2009

This is a summary of the pension committee report.  Read the full report here.

1.     Today’s edition will be a bit of a departure from the usual.

2.     In Media Watch #22, April 4th, we said that the Teachers’ Retirement Allowances Fund (TRAF) announced the new rate of 0.37% of the CPI of 1.2%, resulting in a 30.8% COLA. That hasn’t changed. However, to put the new numbers into a perspective, we are adding some more detail.

3.     The maximum COLA that could have been granted this year, under the new Bill 45 formula of a 2/3 maximum, was 0.8% CPI.

4.     However, the granting of a 0.8% COLA would have resulted in an unfunded liability in the PAA because sufficient funds have not been put into the PAA by the MTS and the government.

5.     RTAM proposed the “greater of” method of calculating the COLA and it was accepted by the MTS and the government. Without that new method, according to TRAF, there would have been a zero COLA.

6.     TRAF has introduced new Mortality tables. It reflects that retired teachers are living longer and thus drawing more on the retirement funds. Had the former mortality tables been used, a 0.8% CPI COLA could have been granted. Therefore, the end result was a loss of 0.43% COLA because of the new tables.

7.     Base pension   inflation   

           $10,000             1.2% /$120

 COLA    @      0.8%     $80    This is the max under Bill 45.

Loss #1                          $40                                                         

COLA      @     0.37      $37   This is what we are receiving.

Loss #2                          $83                                

At $20,000 you are receiving $74, and losing $166 to inflation.

At $30,000 you receive $111, and lose $249.

At $40,000 you get $ 148, and lose $332.

8. With COLA payments dependent on investments in the market, Media Watch acknowledges that we are in difficult times. Media Watch continues to watch that market for glimmers of a return to stable conditions. In the meantime, let’s not misplace out anger and disappointment. Let’s remember who created Bill 45.


November 2010


Media Watch  #40, Nov. 23, 2010

 

1.   After a year long rest, the Public Relations Committee of the Retired Teachers Association of Manitoba (RTAM) is once again scanning the various news media for items that are of interest, we hope, to retired teachers wherever they may be. While our main focus will be on economic news there will, no doubt, be forays into other spheres of interest. The stories will usually be time delayed so that their importance can be “distilled”.

 

2.   “As of Dec. 1, Manitoba will be the first jurisdiction in Canada to completely eliminate the small business tax rate…We’re also eliminating the Corporate Capital Tax for all corporations as of Dec. 31 . It had already been eliminated for manufacturers and processors in 2008”.

Letter to the Editor from Peter Bjornson, Minister of Entrepreneurship, Training and Trade , Nov. 12, 2010

 

3. National museums have to make payments in lieu of taxes to the municipality in which they are located, while private museums do not. So, the Canadian Museum for Human Rights  owes the City of Winnipeg about $ 157,000 for 2009 and $200,000 for 2010. Because the Museum had not budgeted for these payments and has spent over its budgeted amounts in other areas, Ottawa has “allowed the museum to borrow the overage from its budget allocation of $21.7 million for 2010-11.”   Free Press(FP) Sept 30,2010

 

4. Manitoba’s population reached 1,235,400 on July1, 2010, including a net inflow of 4,400 immigrants. Manitoba’s population is the third youngest in the country, after Alberta’s and Saskatchewan’s. For the third year in a row, Manitoba’s births outnumbered deaths by about 5,500.

 

Media Watch #42, Nov. 26, 2010

 

1.   The Winnipeg Free Press carried a story yesterday by its education reporter Nick Martin concerning our former organization, the Manitoba Teachers’ Society and its current president, Pat Isaak.

2.   “The provincial executive of the Manitoba Teachers’ Society has unanimously censured president Pat Isaak and ordered Isaak to take vice-president Paul Olson with her on all MTS business.

3.   It is believed to be the first time the provincial teachers’ union has censured its own president. The MTS executive took the extraordinary measure this summer.

4.   While all discussion took place behind closed doors, minutes of the MTS executive posted on the society’s web-site show that motions voted on in public involved a denial of Isaak’s request for vacation pay, and a dispute over who had authority to consult the society’s legal counsel.

5.   An executive vote June 18 denied Isaak “monies claimed to be owing for vacation days and service gratuity.” A vote immediately following directed that only the general –secretary…be authorized to consult the society’s legal counsel unless the executive otherwise directed.

6.   Two more executive motions came August 24:”That the president, Pat Issak, be censured for defying the directive of the provincial executive…by seeking society-paid legal advice without the permission of the provincial executive on an issue currently being dealt with by the provincial executive” And:” That the president shall invite the vice-president to accompany her when attending meetings or functions to which the society has been formally invited.”

7.   Isaak says the executive did not ask her to quit, and says she will serve until the end of her term in May.”

8.   Readers may wish to see the entire article in section B4, Thursday, November 25, 2010 of the Winnipeg Free Press.


Media Watch #41, Nov. 25, 2010

 

1.   Rona had sales of $4.7 billion in 2009 and has close to 700 business outlets with 30,000 employees. It has just added a Winnipeg-based company called TruServ Canada to its “family”. This company has distributed more than 40,000 products, about $100 million, to more than 650 independent dealers e.g. True Value. All 300-plus Winnipeg employees will be keeping their jobs, and arrangements dealers have with TruServe will continue to be honoured with Rona as the new owner. FP, Oct. 2, 2010

 

2.   If you have a HP printer and wonder at the cost of ink, you might be interested to know that Hewlett-Packard has just hired a new CEO, Leo Apotheker, the former chief of a German business software maker. To get Leo to move to the USA, HP is giving him $8.6 million and an annual salary of $1.2 million plus performance-based bonuses worth millions over the next three years. By coincidence, HP is facing a class action lawsuit from thousands of Americans who claim that their machines told them they needed to get a new ink cartridge before it was necessary. No Canadians need apply, sad to say. FP

 

 

3.   U.S. Steel is shutting down raw steel production at the former Stelco plant in Hamilton indefinitely because of weak demand but won’t lay off any workers, according to the company. The Union president estimated that 300 to 400 of the company’s 900 workers would be affected. FP,  Viewpoints differ!

 

4.   Facebook is splitting its shares 5 for 1 so that it can give larger stock grants to current and prospective employees. The split doesn’t change the actual value of these grants, however. Facebook is not disclosing the value of its shares.  Does this sound legal?    FP


Media Watch # 53          Jan. 5, 2011

1.   Are food banks necessary? The number of seniors having to use food banks in Manitoba has almost doubled in Manitoba in the last year from 8 % to 15% in 2010. Seniors, children, immigrants and refugees have increased the numbers from 48,000 in March 2009, to just under 58,000 in March 2010, almost 20%. Across Canada, 867,000 people used food banks in March 2010, up 9% from the year before. The increase was greatest in Ontario (28,000), Quebec (17,000) and Manitoba (10,000). For the first time ever in Manitoba, more children under the age of 18, at 50%, are relying on the food banks than adults. Kevin Rollason, FP, Nov. 17, 2010

2.   Should international corporations have more legal rights than governments? Free trade agreements point in that direction. According to the North America Free Trade Agreement between the U.S., Canada and Mexico in 1994, corporations may opt for treaty arbitration if they feel a government is restricting their right to international commerce. Since 1994, there have been 66 investor state claims launched under Chapter 11 arbitration rules- 28 against Canada, 19 against the U.S. and 19 against Mexico. Canada has paid out $157 million in damages and Mexico, $187 million. By contrast, the U.S. has yet to lose a single NAFTA Chapter 11 case. As well, all three governments have incurred tens of millions of dollars in legal costs. Those monies are our tax dollars!

3.   The future? Not bright! Fully 75% of all new claims target Canadian governments. So, why can’t the disputes be settled at the local level for investors? Under Chapter 11, all three governments have given their “unconditional prior consent” to submit investor claims to binding arbitration. In essence, governments have given up their democratic right to make laws for their countries.

4.   Canada has signed 8 free trade agreements and has another 11 under negotiation. It also has a further 35 “foreign investment promotion and protection” agreements pending. If arbitration rights are included, there will be a further erosion of the democratic right of national governments to control their economies. International corporations will do so. Frances Russell, FP, Nov. 17, 2010


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Media Watch # 56          Jan. 12, 2011

1.   Seniors getting recognition! Governor General David Johnston made Etienne Gaboury and Garry Hilderman members of the Order of Canada during a ceremony in Ottawa. Gaboury has made 300 architectural designs in Canada and around the world, including the Esplanade Riel pedestrian bridge across the Red River, the current St. Boniface Cathedral, the Royal Canadian Mint and the Canadian Embassy in Mexico.

2.   Hilderman designed the Oodena Celebration Circle at The Forks and the Leo Mol Sculpture Garden. He was instrumental in planning The Forks and is currently working on plans for the site of Upper Fort Garry.  Kevin Rollason, FP, Nov. 18, 2010

 

3.   Is there a contradiction here? In the United States, no one but an American can own American television networks and stations, but there are no restrictions on owning newspapers. In Canada, foreigners are prevented from owning Canadian newspapers and magazines by tax laws, and they cannot buy controlling stakes in broadcasters or film and television companies. There are, however, no restrictions in Canada on who can own oil or gas companies or on mineral resources. Nicholas Hirst, FP, Nov. 18, 2010

4.   Surprisingly, the National Lottery in the United Kingdom is run by a company controlled by the Ontario Teachers’ Pension Plan. Recently, a French company bought control of part of the U.K.’s rail infrastructure. ” How would we feel if Manitoba Hydro, the MTS or RIM (think Blackberry) were to be owned by foreigners?” asks Nicholas Hirst, FP, Nov. 18, 2010

 

5.   Manitoba Education Minister Nancy Allan said that the “no fail” policy does not exist. Teachers can dock student’s marks for late assignments and give a zero for plagiarism. There can be no social promotions. Promotion decisions rest with the principal, who consults with teachers, parents, and other specialists as appropriate. Nick Martin, FP, Nov. 18 , 2010

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Media Watch # 57             Jan. 14, 2011

1.   `The federal government wants to establish a minimum, pre-tax income of $40,000 a year for disabled military veterans who can no longer work and for those in rehabilitation. The proposed changes to the New Veterans Charter will cost $2 billion. FP, Nov. 18, 2010

 

2. Lost your car lately?  Of the nearly 1,000 immobilized-protected vehicles stolen in Manitoba, 80% involved the keys either being left in the ignition, being lost, or being stolen from a jacket or purse. With the keys, a thief strolls around the parking lot, pressing the unlock button until a vehicle lights up. Last year, Winnipeg was #3 in per capita stolen-cars, behind Branford (ON) and Kelowna (BC). In average 3 to 4 vehicles are stolen each day in Winnipeg, but four years ago the average was one an hour. Gordon Sinclair Jr., FP, Nov. 18, 2010

 

3. Dropping! Four years ago, the Fraser Institute ranked Manitoba as the world’s most attractive jurisdiction for mineral exploration and development. Today, we are ranked number eleven, among 51 jurisdictions. Speculation as to why the decline centers on the long delays in consulting First Nations who have mineral land claims. Martin Cash, FP, Nov. 19, 2010

 

4. Natural Resources Canada is forecasting a 44% increase in exploration spending across Canada but there will be a 12% decline in Manitoba. Explaining the reason for that decline, the executive vice-president of the Mining Association of Manitoba said that the amount of land being protected for parks was beyond the norm. In the recent Speech from the Throne, the provincial government noted one million hectares of land have been permanently protected over the last twelve months and new protected areas will be added in the coming days. M.Cash, FP

 

5. The loss of 600 jobs in Thompson will means a loss of $50 million worth of annual paycheques to that community. Many workers in the Thompson nickel plant gross well over $100,000 a year.  The city’s population is 15,000. Also affected is Manitoba Hydro who will be losing two of its largest industrial customers in the refineries in Flin Flon and Thompson. Martin Cash, FP, Nov. 19, 2010

Media Watch #60    Jan. 21, 2011

1.   WikiLeaks “begins” in Iceland. In October, 2008, the Kaupthong Bank, Iceland biggest bank, collapsed beginning a chain reaction which left the country with $128 Billion in debts, around $400,000 per capita. Ten months later, a legal injunction prevented a national broadcaster from doing an exposé on the bank. He referred viewers to Wikileaks.org where they found a summary of loans which sent more than $6 billion to the bank’s proprietors and companies they owned; $900 million went to a major investor. As a reaction, Birgitta Jonsdottir, an Icelandic poet and politician, organized the Icelandic Modern Media Initiative, or Immi, to welcome international data on transparency and whistle-blowing. She is attempting to make Iceland a base for freedom of information world-wide. Forbes magazine, December 20, 2010

 

2.   The U.S. government pays an average of $1.2 million annually for each soldier in Afghanistan. The annual cost in world War 11, adjusted for inflation, was $67,000.

3.   In May, 2010, the European Union announced a $145 billion bailout of Greece, where saxophonists and TV news anchors retire with government pensions at age 55. Bloomberg Businessweek, Dec. 20, 2010

 

4.   Since 1970, more than 400,000 Canadians have received a pardon and 96 % of them have not committed another crime. A pardon does not erase a record or prevent police from knowing about a record during a subsequent investigation. However, it does mean that most employers would not know about a criminal record and this allows offenders to turn their lives around. The federal government is considering changing the term “pardon” to “record suspension”. Mia Rabson, FP, Nov. 23, 2010

 

5.   The Manitoba government introduced amendments to deny compensation to a person convicted in the last ten years of certain serious offences under the Criminal Code or the Controlled Drugs and Substances Act. Currently, people injured as the result of a crime and immediate members of a person who was killed as a result of a crime may be entitled to compensation. Larry Kusch, FP, Nov. 23, 2010

Media Watch # 61       Jan. 24, 2011

1.                     What will Australians think? It is interesting to note that, after the federal government denied an Australian company’s bid to buy a controlling interest in a Saskatchewan’s potash company, a German fertilizer giant, K&S Group, bought Vancouver-based Potash One Inc. for $434 million cash. A feasibility study showed it should produce at least 2.86 million tones of potassium chloride a year for 47 years. About US$2.7 billion will be needed to put it into production. K&S with a market value of US$13 billion will be able to finance it. Nov.23,2010

2.   More muscle for the Bank of Nova Scotia! In the field of mutual-fund business, Scotia has bought 82% of Dundee Wealth Inc. for $2.3 billion. Scotia has moved from number 10 to number 5 in Canada’s mutual fund companies, and the third largest bank player. Its business will more than double from $25 billion to $55 billion. It is expected that retiring baby boomers, who hold the biggest slice of private wealth, will look to professionals to manage their savings. John Greenwood, FP, Nov. 23, 2010 

3. Are DVDs going the way of the VHS cassettes? Netflix, in California, introduced a plan that for the first time relies only on the Internet for customers to view movies. The new plan allows for one DVD rental at a time, along with unlimited movies and TV shows streamed over the Internet, for $9.99 per month. Netflix has a steaming-only service in Canada for a monthly fee of $7.99. The turning point lies in the younger customer’s preference for digital entertainment that can be browsed, watched again or discarded without ever having handled a disk. Spending on DVDs dropped 35% from last year. The Associated press, FP, Nov. 23, 2010

4.   Brings to mind the American Peace Corps! The Manitoba Government, in its throne speech, announced the future creation of the Manitoba Youth Corps. Its goal is to match grades 9 to 12 students with small and larger businesses, non-profit and labour groups so that students can get one-on-one mentoring, work experience and leadership training. It hopes to have 2,500 students enrolled eventually but will start with 1,000 students next September. The cost is $6.7 million. Bruce Owen, FP, Nov. 24, 2010

Media Watch #62 Jan. 26, 2011

1.   82 reserve politicians, nationally, last year were paid more than Prime Minister Harper’s income of $300,000. One reserve councilor made $978,000, including $700,000 for “other remuneration”- income paid for work related to band-owned enterprises, such as gas stations and casinos.

2.    The average salary of a Manitoba chief/councilor is $62,966. The number of chiefs/councilors earning $100,000 or more is 40 (12%); the number earning $80,000 or more is 81(25%). The highest-paid in Manitoba are 5 politicians in Peguis First Nation who have an average salary of $252,426 with a population of 3,604 to govern; the lowest-paid have an average of $16,650 to govern 687 people. Canadian Taxpayers Federation, FP, Nov.24,2010

 

3.“What Afghan society lacks first and foremost is a skilled labour force. They need doctors, teachers, carpenters, plumbers, electricians”. Scott Taylor, a former professional soldier and editor and publisher of Esprit de Corps magazine. “Afghanistan has never been subjugated by an invader. Afghans are probably the best guerrilla fighters in the world. They hardly need teaching from the West. Canada should be building Afghanistan’s civilian infrastructure, not teaching more war.” Frances Russell, FP, Nov.24,2010

4.   A Korean firm is making a $100-million investment in Alberta’s oil sands. Osum Oil Sands Corp.  made the deal with Korea Investment Corp. towards a steam-driven project at Cold Lake, in northeastern Alberta. Osum hope to get 35,000 barrels per day. The Canadian Press, FP, Nov. 25, 2010

5.   The trustee, trying to recover $2 billion lost to Bernard Madoff, has sued a Swiss bank (UBSAG),alleging 23 counts of financial fraud and misconduct. It names the bank, other entities and individuals. It alleges the bank lined up clients for Madoff. FP, Nov. 25, 2010

6.   A Winnipeg medical device company, IMRIS, has raised $52 million by offering 11 million shares in the United States at $5 each. The money will be used to continue product development and marketing. FP, Nov. 25, 2010


Media Watch #119, Dec. 16, 2011

  1. Crime does not pay but lotteries do...A fellow who won $1million in a lotto in July had two nine-year old convictions for a car theft and his role in a collision that damaged two other vehicles. The Manitoba Public Insurance filed court orders to garnishee his bank account and the fellow paid his debts...from his winnings. Following the thefts and collisions of 2000, the fellow spent time in jail for possession of stolen goods, assaulting police, fraudulent use of a credit card, theft and repeated bail and parole violations. Ado Santin, FP, Nov. 30, 2011

 

  1. If you're trying to quit smoking by using the drug Champix, be aware that it has been linked to heart problems, depression and suicide. Nevertheless, the Manitoba government has just approved it for coverage under pharmacare. It is a pill manufactured by drug giant Pfizer which does not contain nicotine. Instead, it targets nicotine receptors in the brain to reduce nicotine cravings. It has been available in Canada since 2007. In the U.S. The FDA has already placed a warning on the product's label. In Ottawa a Health Canada spokesperson said they are reviewing the situation. In France, the government don't pay for it because they believe the risks outweigh the benefits. Larry Kusch, FP, Nov. 30, 2011

 

3. We should be making more money! Between 2002 ad 2008, revenue from the intellectual property created at Canadian universities was 1.14% of the total research and development expenditures, compared with 5% at U.S. Schools. Canadian universities earn less money for their research results. Take canola, for example. During the Second World War and the following decades, Canadian scientists did the work of making it more edible and the Canadian public financed that work. Because we didn't patent the processes we must today pay royalties to a foreign multinational corporation. Karen Mazurkewich, FP, Nov.30, 2011 

Media Watch # 120, Dec. 19, 2011

  1. Getting ready for the 2015 federal election! Elections Canada has warned that the bill to enlarge the House of Commons by 30 seats must pass through the Senate and get royal assent immediately if the new seats are to be in place. John Ibbitson of the Globe and Mail speculates that half of the new seats will be in Ontario with the Conservatives getting 12 seats, two for the NDP and one for the Liberals. In Alberta, both Calgary and Edmonton will get two new seats. British Columbia needs six seats and Quebec gets three. Overall, he estimates the Conservatives would get 21 new seats, eight for the NDP and one for the Liberals.

 

  1. Follow the money...where? Former MF Global chief Jon Corzine testified in the American House of Representatives that he has no idea where $1.2 billion of clients' money has gone. The former U.S. Senator led the MP Global for 20 months as it collapsed into the eighth-largest bankruptcy in U.S. history. It is the first time in more than 100 years that Congress has subpoenaed a former senator to testify. The company filed for bankruptcy on Oct. 31 after making disastrous bets on European government debts. Corzine resigned on Nov. 3rd. The Associated Press, FP, Dec. 9, 2011

    3. Is fracking the way to go? Underneath the small community of Pavillion in Wyoming, the U.S. Environmental Protection Agency found compounds likely associated with fracking chemicals. Residents say that their well water reeks of chemicals. Fracking involves pumping pressurized water, sand and chemicals underground to open fissures and improve the flow of oil or gas to the surface.


Media Watch # 121, Dec. 21, 2011

  1. Manitoba...the most age-friendly province in Canada? On Dec. 2 representatives from 13 communities joined the province's age-friendly initiative, bringing the total to 85 communities. The government minister said that more than 80% of Manitoba’s population now lives in age-friendly communities. The province contributes more than $475,000 to the initiative, including funding to a website and a Resource Team. The minister gave a $2,000 cheque to each of the 13 new entrant communities.This initiative was started in 2008. Its vision is to create communities that value and support the contributions of older people and to provide opportunities for healthy choices that improve independence and quality of life. Manitoba Government NewsRelease, Dec. 2, 2011

 

  1. Need to retrain for a new job? Ten federally and provincially funded projects will support unemployed older workers in small communities in Manitoba by helping them develop their skills and get back into the labour market. $2.9 million is being given to benefit approximately 350 unemployed older workers. To date, the federal government 's Economic Action Plan has helped more than 16,000 unemployed older workers retrain for new careers. Manitoba Government NewsRelease, Dec. 9, 2011

3. More time needed for employers to fund workers' pensions...The Manitoba Minister of Labour announced new regulations to improve funding options for employers. The first one involves new penalties for the late filing of information used by the province to monitor pension plans. Secondly, employers will be allowed to use letters of credit to guarantee funds to cover promised benefits to employees. Thirdly, employers are allowed to extend the solvency amortization period to ten years from the previous five years. The extra time is intended to ensure that employers can meet their benefit obligations. Manitoba Government NewsRelease, Dec. 12, 2011


Media Watch # 122, Dec. 23, 2011

  1. Now you see it, now you don't! The Coca-Cola Co. has made its secret formula the centerpiece at its corporate museum in Atlanta, taking it out from the SunTrust Bank vault where it has been stored since 1925. However, the formula, which dates back to 1886, will be hidden from public view. A railing keeps visitors a few metres away from the new vault which now contains the secret formula. A keypad and a hand-imprint scanner add to the security! The formula had been kept in the vault of the SunTrust Bank because the bank had provided underwriting services to the Coca-cola Co. when it went public in 1919. The Associated Press, FP, Dec. 9, 2011

 

  1. I'll have carrots, please. The Farm 2 School Healthy Choice Fundraiser has sold more than 500,000 pounds of locally grown vegetables to Manitoba families, raising $245,545 for Manitoba schools. 215 schools participated this year, up from 66 schools the first year. Each school this earned an average of $ 1,065. Participating schools sell $10 and $20 orders of Peak of the Market vegetables. Half the proceeds remain with the school; half go to the farmers. The program resumes in Sept. 2012. FP, Dec. 9, 2011

 

  1. Oh , to be a corporation! American corporations are stockpiling money-$2.1 trillion at the end of September. Their reluctance to spend that money explains why job growth remains modest. Most stock wealth is owned by the richest Americans i.e. 80 % of the stocks belong to the richest 10% , and 20% of the richest do 40% of consumer spending. Roughly half of U.S. households have stocks or stock mutual funds, making up 15% of America's wealth, less than housing but more than bank deposits. The Associate Press, Dec. 9, 2011


    Media Watch #123, Jan. 2, 2012

    Trimming the budget...internationally! In Spain, the schools in Catalonia have been told to limit toilet paper use to 82 feet per student per month in order to trim $2.6 billion from the region's budget. In Hungary state support for the acclaimed Budapest Festival Orchestra was cut 20% or $850,000. In Greece the athletes must train on their own for the 2012 Olympics as the government struggles to pay the $14.5 billion it spent on the 2004 Athens

    Games.

    In California the state cut 750 seasonal firefighter jobs to save $34 million. In Britain the Royal Navy decommissioned 20 Harrier jump-jets, selling them for $53million to the U.S. Marines. In Ireland the city of Dublin cut $60 million, leaving the city with no money to respond to severe weather, including an average of 20 days of snowfall a year. Bloomberg Businessweek,Dec. 26-Jan.8, 2012

     

    1. BRICs(Brazil, Russia, India,China) is a term coined in 2001 to describe the more active economies in the world and now, after ten years, there are some cracks in the BRICs. China: -22% in European orders for Chinese goods in October, compared with September; 60% of Chinese millionaires who have considered emigrating or have done so; $28 billion is the estimated trade deficit for the next quarter. China's trade surplus peaked at almost $300 billion in 2008.

      Brazil: -99% is the change of cash put into savings accounts in November; 0% is the growth for the third quarter of 2011, compared to the previous quarter; 19% is the increase in consumer credit defaults in Oct. compared with 2010.

      Russia : $80 billion is the estimated capital flight due to stagnation, corruption and political uncertainty; 61.8 years is the average life expectancy for Russian men, nearly the same as it was four decades ago; 25,000 is the number of people who turned out in Moscow in Dec. to protest vote rigging in elections.

      India: -5.1% is the drop in production at factories,utilities and mines;150,000 is the number of people who protested increasing food prices and unemployment; -67% is the decline in purchases of the $2,800 Nano, India' mini-car, from July to Oct.

      Bloomberg Businessweek


       

      1. Banks going back to Cuba? The Bank of Nova Scotia has applied to re-establish a presence in Cuba and the Royal Bank is considering a similar move. The move would expand the NS Bank's trade-finance business with Cuba but would not do any local transactions or direct backing services. Banking officials are wary of offending Americans who in 1996 passed the Helms-Burton Act which prevents any officers of Canadian companies operating in Cuba from entering the U.S. The National Bank    of Canada entered Cuba in 1995 and runs a small trade-finance operation. Cameron French, Reuters,Portage Daily Graphic, Dec. 20, 2011

      1. A new direction for health care financing? Federal Finance Minister Jim Flaherty has told provinces that they will continue to get billions of dollars from the federal government but-and here is the change- the provinces will be able to spend it as they see fit. By not stipulating how the money is to be spent, each province will have to decided where to put the money. Manitoba's Finance Minister reacted by saying “This is not fair. It's un-Canadian.” David Akin, QMI Agency, Daily Graphic, Dec. 22, 2011

      1. Brother, can you lend a euro?! 523 European banks took 490 billion euros in three year cut price loans from the European Central Bank recently. The result is that banks should be able to lend more money and    perhaps buy bonds from the weaker economies. The loans, however, will have to be paid back. Reuters, Daily Graphic, Dec. 22, 2011

       

      4. Did you pay for that? Every single day in North America 600,000 incidents of shoplifting occur. One out of every ten of us shoplifts often. Businesses lose $40 billion a year to this “shrinkage” and the trend is 

      increasing, CBC Newsworld, Dec. 2011


      Media Watch #128 January 13, 2012

      1. A life is a life is a life. As a result of the Robert Pickton case in Vancouver, police everywhere are taking the death of prostitute workers more seriously and are looking for patterns that may link murders together. However, there are contradictions in effect. In Ottawa, for example, police recently warned a support group for prostitutes to “be vigilant and exercise good safety practices” but they continue to make mass arrests of sex workers that drive the trade into the back alleys, where the women are less safe. Ottawa police are currently looking at the unsolved murders of six prostitutes since 1990 and have noticed what might be a link between some of them. The Globe And Mail, Jan. 6,      2012

       

      1. Brain fast-mapping to cope with memory disorders: A Toronto research institute is using brain imaging to see how the different memory systems work. They are supported by different networks of brain regions. In healthy adults, the hippocampus helps us remember what happens in our lives. But, in children, the hippocampus is still developing and so another area of the brain, known as the neocortex, is used to learn by the process of exclusion, explaining why children learn so many new words in a short period of time. For example, if a child is asked to get an unknown object among a group of known objects he eliminates the known ones and has thus learned the unknown one. Then, as the brain matures the hippocampus becomes the more efficient way to learn. However, amnesia and Alzheimer's disease occur when there is damage to the hippocampus. The researchers are finding that patients who learn by the exclusion method are retaining the information a week later, even though they don't remember learning it. The Globe and Mail,Jan. 3, 2012


        Media Watch # 129, Jan. 16, 2012 Media Watch is an activity of the Public Relations Committee of the Retired Teachers’ Association of Manitoba. It is a “second look” at issues which may affect retired teachers and members of the general public. It is non-partisan. As an information activity, it may be distributed as widely as the reader sees fit.

        1. Good credit card news! Canadians are paying off more of their credit card debt and borrowing less. The average credit card debt fell in 2011 by 3.4%.However, overall debt continues to rise but more slowly than before. Mortgage and other debts are 1.5 times a Canadian household's average income-an historic 150% high. There has also been remarkable improvement in consumer delinquencies, or non-payments, and bankruptcies in 2011 from record numbers in the two prior years. The improvement amounts to a $1.9 billion difference. Average Canadian debt loads surpassed those in the U.S. last year. The Canadian Press , Jan. 10, 2012/ CBC news

        1. Good mortgage rate news! The Bank of Montreal has just made the lowest advertised rate by any major Canadian bank, ever- a five year fixed rate mortgage at 2.99%. Other banks have begun to match this rate. These low mortgage rates are great for first-time buyers or others whose mortgages are coming up for renewal. It has been estimated recently that the 1.35 million mortgage holders who renewed their mortgages in the past year saved an average of $2,000 a year in interest costs- or $2.7 billion a year in total. Tom McFeat, CBC News, Jan. 13, 2012

        2. What's a good football quarterback worth in the Canadian Football League? According to their agents, estimates range from $200,000 to $400,000 a season. They often have a base salary plus bonuses dependent on how the team does. FP, Jan.14, 2012

        3. Some records broken in 2011: Most saves by a big league pitcher, 602, Mariano Rivera of the new York Yankees/ Fastest marathon in history, 2hours,3 minutes, 2 seconds by Geoffrey Mutai of Kenya in Boston(April)/Highest gold price on record ,$1,920.30 per troy ounce in Sept./ Most viewers ever for an TV episode,8.9 million for The Jersey Shore.

          Media Watch # 130, Jan. 18, 2012

          1. Oh to be on this committee !On Jan. 13, Premier Selinger said he will lead the newly created Priorities and Planning Committee of Cabinet. The priorities will be a growing economy with jobs and opportunities, and strong services such as health, education and crime prevention. Members include Stan Struthers, Theresa Oswald, Jennifer Howard, Gord Mackintosh, Dave Chomiak, Eric Robinson and a rotating member of the government caucus. Anna Rothney will be the secretary of the new committee. As an economist, she has held senior position in the executive council and Treasury Board secretariat. Manitoba Chambers of Commerce, Jan. 14, 2012

          2. One more brick to the load! MLAs with new responsibilities are: Jennifer Howard, family services and labour; Gord MacIntosh, conservation and water stewardship; Christine Melnick, immigration and multiculturalism; Jim Rondeau, healthy living,seniors and consumer affairs. Newly elected MLA Kevin Chief is minister of children and youth opportunities and Ron Kostyshyn is minister of agriculture, food and rural initiatives. Manitoba Chamber of Commerce,Jan. 14, 2012

          3. In case you were wondering:

            All MLAs basic annual salary...$85,564.00

            Premier's additional salary $55,944.00

            Cabinet salary $36,745.00

            Cabinet without portfolio $32,570.00

            Speaker of Legislature $45,931.00

            Deputy speaker $9,047.00

            Opposition Leader $45,931.00

            Government House leader $ 9,047.00

            Government whip $6,462.00

            Opposition House leader $6.462.00

            Opposition whip $5,171.00 

                    1. Media Watch #131, Jan. 20, 2012

            1. In case you were wondering, part 2:

              Leader of other recognized parties $ 40,713.00

              Other Opposition house leaders $$5,171.00

              Other Opposition whip $3,880.00

              Caucus Chair $5,570.00

              Legislative Assistant $3,880.00

             

            Constituency Allowance (Office space, Office Operation, Staff Salaries, Representation) Equipment and furnishing items costing $173 and over are the property of the Legislative Assembly.

            Maximum annual amounts per region are:

            Winnipeg - $54,816.00 Southern- $50, 829.00 Northern-$49,933.00

             

            1. MLA retirement Benefits-effective April 1, 2011

              The plan has a 7% contribution rate by Members on total pay and an accrual rate of 2% for pension calculation purposes. As an on-going alternative to the plan, a member may contribute up to 7% to one or more of RRSPs, including a spousal RRSP.A matching contribution is made by the Crown. Total pay includes the basic Salary and any additional indemnities paid to the Member. Information comes from the Commissioner for MLA Pay, allowances and Retirement Benefits.

             

            3. Another Crocus payback! An additional $9 million will be going to 33,500 shareholders thanks to a ruling made by Justice Deborah McCawley after a motion brought forward six months ago. A further $ one million is to be held back for a year in case there are further claims. After the $9 million distribution, the fund will have $7.3 million in short term investments and bonds as well as remaining debt and equity holdings with a value of $9.76 million in 10 Manitoba companies. A previous distribution $54.7 million was made in the fall of 2009. FP, Martin Cash, Dec. 14, 2011

            Media Watch # 132, Jan. 23, 2012

            .And in Canada?! In the Guardian Weekly, United Kingdom, a National Literacy Trust survey has discovered that one child in three (almost 4million children) do not own a book; more boys than girls are bookless. The proportion has increased from one in ten in 2005. The study found that children with their own books were more likely to do better at school.Contribution from Doreen Pruden.

            2.Can you see America being far behind? In South Africa, the fast food chain Wimpy is appealing to the blind and visually impaired customers by having a message in sesame seeds arranged on the bun in Braille-fashion. They find that their food is talking to them! Wimpy has printed menus in Braille on a national basis since 2002. The Braille Burger is on Youtube. Globe and Mail, Jan. 13, 2012

            3.Have you ever read this magazine? Cowsmopolitan Dairy Magazine received $16, 504 from the Canadian government i.e. you and me, as part of the Canada Periodical Fund which gives out about $71 million a year to obscure and to well-known publications.    Maclean's, Chatelaine, Canadian Living and Reader's Digest get $1.5 million annually, the maximum amount allowed under the program which gives 13 periodicals more than $ 1million each. The two biggest magazine owners in Canada are Transcontinental and RogersCommunications. They own half of the top 50 magazines in Canada. In 2010, Harrowsmith Country Life received $330,130 and went out of business in 2011. Randall Denley,Postmedia News, FP, Jan. 16, 2012


            Media Watch #133, Jan. 25, 2012

            1. What's in a name?! Apparently quite a lot. A University of Toronto study last fall showed resumés with English-sounding names received 35% more callbacks from employers than those with foreign-sounding names. A new study by the Royal Bank shows our economy is suffering because many immigrants can't use their qualifications. If immigrant skills were rewarded in a similar way to that of Canadian-born workers, the increase in their income would amount to $30.7 billion, resulting in 42,000 additional jobs because of the growth in the gross domestic product. Tom Ford, FP, Jan. 16, 2012

             

            1. Are you still on that committee?! The Manitoba Auditor-General(AG) pointed out that about a quarter of the 1,500 people who serve on provincial government -appointed agencies, boards and commissions (ABCs)are doing so after their terms have expired. Legislation allows people to serve until someone else has been named to replace them. The AG recommended having a maximum number of years of service on the ABCs. Daily Graphic, Jan. 12, 2012

             

            3. How did they vote in the East?! The Elections Canada chief executive has urged the government to reconsider the ban on reporting results. Future laws will allow newspapers to post results online as soon as they become available. He said 10% of the results will be available before the polls close. More than 1,000 complaints came in dealing with social media and communications violations during the 2011 election. Tweeters will be free to tweet, when the 1938 ban is removed. Mia Rabson, FP, Jan. 14, 2012


            Media Watch # 134, Jan.27, 2012

            1. How budgets stumble: In 2001, the American Congressional Budget Office forecast average surpluses of about $850 billion from 2009-2012. With that in mind , the CBO said the American government would have enough money to pay off all its debts.Instead, the U.S. government has run large budget deficits of $1 trillion a year. The main reasons for this turnaroundinclude:tax revenues decline due to the recession (28%); tax cuts (21%); increased defense spending (15%); non-defense spending (12%); higher interest costs (11%); and the 2009 stimulus package (6%).

            1. Who is the debt owed to? The U.S. government holds around 40% through the Federal Reserve(1.6 trillion), Social Security Trust Fund($2.7 trillion), other government trust funds ($1.9 trillion). Individuals, corporations, banks, insurance companies, pension funds, mutual funds and state and local governments hold $3.6 trillion. Foreign investors hold the rest, including China ($1.2 trillion), Japan ($0.9 trillion) and other mainly oil exporting countries, Asian central banks or sovereign wealth funds ($2.4 trillion). By the middle 2000s, foreign buyers were buying 50% of U.S. government bonds. However, after the global financial crisis, foreign purchases have decreased to around 30% of new issuances. Satyajit Das, FP, Jan. 2012

            2. Where is the danger? Economists tell us that as long as the debt is owed by a government to its own citizens the debt danger is minimal because the money is re-circulated within the country. However, there is a greater danger when it is owed to foreign investors because that money is removed from the country when the debt is paid off. Not to mention the influence on foreign policy decisions when the money is owed elsewhere!


              Media Watch # 135, Jan. 30, 2012

              1. Would you like to take 600 million cars off the road for 22 years?!! The answer is simple, according to a professor of environmental engineering at a Montreal university. When you are replacing your roof, shingles or otherwise, use white materials. A typical Canadian house can offset 10 to 20 tons of carbon dioxide emissions just by lightening the colour of its roof. And if every roof in the world were white ...poof goes all those cars with their CO2 emissions ! Contributed by Ted Poulter, from Metronews, Jan.16,2012

               

              1. Another riches to rags story! Irish tycoon Sean Quinn , once rated as Ireland's richest person, was declared bankrupt as a bank pursues him for $2.7 billion. In 2007, he was worth $6 billion but he invested much of it into a bank that was nationalized by the Irish government. The bailout will cost Irish taxpayers about $30+billion dollars. At the bottom of the losses is a decade- long property bubble. The bank hopes to reclaim some of the assets from Mr. Quinn, 64, his wife and five children. The Associated press, FP, Jan. 17, 2012

               

              1. Can you pay for your prescription drugs? One in ten Canadians cannot, according to a study in 2007 reported in the Canadian Medical Association Journal. People who were in poor health, who had lower incomes and who lived in B.C. were more likely not to take or stick with prescribed drugs because of the cost. About 2/3 of Canadian households have out-of-pocket expenses for prescription drugs each year because they don't have a private or public insurance drug plan, the study noted. The Canadian Press, Jan.17, 2012




 

 

 

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