Minggu, 01 September 2019

Confusion trips up labour reform roll-out, with some stakeholders in the dark - Delta-Optimist

Chris Rauenbusch says he doesn't know if his employer can summon him to work on a day off after a series of sweeping federal labour reforms went into effect Sunday.

"I don't know if I am entitled to take a break during a 14-hour shift," said the 39-year-old flight attendant, who heads WestJet’s union local in Calgary.

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His quandary follows a request by employers that Ottawa make some last-minute exemptions or delays to its new rules. The request has left hundreds of thousands of workers and their bosses in sectors from airlines to trucking to telecommunications unclear about whether they are fully covered by the Canada Labour Code overhaul.

As confusion mounted in the lead-up to the changes, Employment Minister Patty Hajdu said certain interim exemptions would apply — at least until further tweaks can be made after the October election — but acknowledged the government was still hammering out who they will ultimately include.

"I can’t actually speak to which employers and which [employee] classes will be subject to these limited exemptions because that is still being worked out with the department right now, and I’m looking forward to their advice," Hajdu said days before the regulations started to kick in.

"I’m not certain exactly when I’ll have those recommendations."

The new rules, which apply to the 904,000 workers in federally regulated sectors from banking to the civil service, usher in a suite of changes that mandate new personal leaves and longer bereavement and vacation periods, among other things.

Industry representatives say some of the amendments would delay shipments, cancel flights and hurt the country's economy, while labour groups argue they are simply asking for reasonable working conditions.

"If you’re a trucking operation and your shipment gets cancelled, you can’t just send the truck anyway. If somebody is sick, you may need somebody else to go," said Dan Kelly, president of the Canadian Federation of Independent Business (CFIB).

Rules that fail to take that into account mean "the entire Canadian shipping network and supply chain is put at risk," according to a May 13 letter to the employment minister from an industry association, Federally Regulated Employers — Transportation and Communications (FETCO), and obtained by The Canadian Press.

An interim exemption will apply to several rules the transport sector says would kneecap its operations, including requirements that employers give staff a 24-hour heads-up on shift changes and four days' notice for schedules, Employment and Social Development Canada confirmed. A mandated 30-minute break every five hours and an eight-hour rest period between shifts will also exclude some workers.

But which companies and employees will remain unshielded by the new regulations remains uncertain.

"It would be very, very specific classes of employees that, if we were to determine, could be exempt. Because ultimately these changes are about increasing productivity, increasing safety standards and work-life balance," Hajdu said in a phone interview.

Rauenbusch said the Canadian Union of Public Employees (CUPE) recognizes that airline workers occupy a round-the-clock industry and that 24-hours’ notice before a shift change may not always be feasible.

"But just because we happen to be employed in a unique industry doesn’t necessitate simply stripping us of the benefits that the government is trying to afford to workers across the country," he said.

Kelly countered that wages and longer time-off stretches can compensate for demanding scheduling protocols at airlines, trucking companies and telecoms — where repair and maintenance needs can pop up unpredictably.

"It’s not like employees in these industries are prisoners. They’re often among the most sought-after jobs around because they have other commensurate benefits," said the CFIB head.

Trucking, however, already faces a serious labour shortage, despite a low barrier to entry. Better benefits could lead to "enhanced recruitment and retention," the Employment Department said.

Employers expressed frustration with the consultation process after the government agreed to push back implementation by three months from its initial date in June.

"Given that the country is mere days away from Sept. 1, implementation of some of these labour code changes are at great risk of failure. This could have easily been avoided with a proper tripartite process many months ago, or a short delay," reads an Aug. 28 email from FETCO executive director Derrick Hynes to the Employment Department.

"What we’re waiting for is to hear back from the government around what they feel would be appropriate in terms of granting some temporary relief from some of these changes," Hynes told The Canadian Press.

The employment minister, "having attended at least one funeral this summer of people that died as a result of a vehicle collision with a transport truck," stressed health and safety — and reiterated that they go hand in hand with profit and productivity.

"At the end of the day, happy employees, safe employees, well-rested employees are more productive. It leads to safer workplaces and leads to more prosperity as a country overall," Hajdu said.



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September 01, 2019 at 03:00PM

Elon Musk goes viral by explaining the science of memes - Dexerto

Tesla CEO Elon Musk may be a billionaire and of the best-known entrepreneurs in the world, but he is also known on social media for his love of memes - and his latest scientific explanation of the phenomenon has instantly gone viral.

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Elon Musk's admiration of internet memes was confirmed when he featured on PewDiePie's famous 'Meme Review' show on YouTube back in 2018.

Since then, he has been on good form on his Twitter account, mixing in various memes along with more serious posts about his various business ventures and scientific insight.

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YouTube: PewDiePie

Elon Musk's appearance on PewDiePie's meme review has over 24 million views on YouTube.

His latest post, though, has mixed both his love of memes and science, and it's exactly what we'd expect from the SpaceX founder.

Unlike his past 'Teletubbies' memes, which were more bizarre than humorous and left his followers scratching their heads in confusion, the 'dope-a-meme' has a more intelligent twist.

Playing on the hormone 'dopamine', which is often associated with pleasure and reward, Elon proclaims that the 'dope-a-meme' is "actually true".

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Musk even mixed in his love of car power technology with another meme, mocking Car Review magazine J.D. Power for a study which found that car users find Tesla's driver-assistance technology "annoying".

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With over 28 million followers on his Twitter, Elon Musk is in the top 100 most followed accounts, just shortly behind Jenner sisters Kendall and Kylie.

His memes always go viral on the platform with over 45,000 retweets on the 'dope-a-meme' post, contributing to his account gaining almost half-a-million new followers every month.



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August 31, 2019 at 11:15PM

FedEx, UPS jockey with Amazon as tech giant expands into shipping - CNBC

A worker pushes Amazon.com Inc. packages in front of a FedEx Corp. delivery truck in New York.

Christopher Lee | Bloomberg | Getty Images

The years-long battle between Amazon and retail companies has spilled over into the shipping industry, with FedEx and UPS adjusting their strategies as the tech giant, once simply a customer, is now a major competitor.

FedEx has announced two changes to its relationship to Amazon in recent months, including ending the ground delivery contract with the e-commerce pioneer. Meanwhile, UPS is exploring new technologies, such as drones and self-driving trucks, to modernize its delivery services.

The moves come as Amazon is building up its delivery fleet, renting planes and offering $10,000 to its employees to leave the company and start their own local delivery business.

"I think they have stated that they are now a competitor to the transport industry," said Ken Hoexter, a research analyst at Bank of America Merrill Lynch. "And FedEx has clearly viewed them now in their recent moves as an increasing competitor."

Just as some retail companies are uneasy about working with Amazon, which can be both a partner and a competitor, transportation companies are facing a similar dilemma. And with their customers facing off against Amazon in other industries, shipping companies may need to take sides.

Dan Neiweem, co-founder and principal of digital services and solutions provider Avionos, said that by ditching Amazon, FedEx may make itself more attractive to Amazon's competitors in the retail space.

He compared it to reports that WalMart is pressuring some of its partners to use Microsoft's Azure for cloud computing instead of Amazon Web Services. WalMart said "there are a small number of cases involving our most sensitive sales data that we'd prefer not sit on a competitor's platform" but its vendors can choose the cloud service they prefer.

"I think that what you'll see is that a lot of the shipments that Amazon was going into the USPS and FedEx with are now going to be transitioned from other retailers who are saying 'hey I don't anybody in my space who works with Amazon,'" Neiweem said. "And you see that parallel very, very tightly with AWS and Azure."

FedEx never relied on Amazon for a huge portion of its business. In a June statement announcing that Amazon would no longer be served by FedEx Express, the shipping company said Amazon accounted for 1.3% of its total revenues in 2018, or roughly $900 million.

From that perspective, FedEx's decision to cut ties with Amazon makes sense, Hoexter said.

"When you go to their sort centers, you can see that Walmart and Jet are a major customer of FedEx's, so certainly that relationship is as important if not more important than Amazon," Hoexter said.

"So if you have to choose one, if UPS is larger with Amazon and you're larger with Walmart, you're going to kind of work closer with that candidate."

Growing demand

Throughout its rise, Amazon has relied on UPS for a large portion of its shipping needs. UPS is still more exposed to Amazon than FedEx was. David Ross, transportation research analyst at Stifel, said he estimates that UPS gets between 7% and 9% of its total revenue from Amazon.

"If you go back 10, 15 years UPS was the chosen parcel carrier by Amazon, and when they started their prime two-day offering it was a lot of UPS," Ross said.

Amazon started using the U.S. Postal Service more after the delivery companies struggled to deliver packages on time during the 2013 holiday season, Ross said.

Online shopping has continued to grow since then. According to the U.S. Census Bureau, e-commerce has grown from roughly 4% of total retails sales in 2010 to more than 10% earlier this year. FedEx said it expects e-commerce to grow to 100 million packages per day in the U.S. by 2026.

As e-commerce has boomed, Amazon has struck out more on its own and built a sizable delivery network. The tech giant may not be delivering many third-party packages right now, but Neiweem said that's "sort of the last stand or threshold that they haven't crossed yet."

UPS and FedEx are also investing in their businesses, with both companies expanding delivery to 7 days per week.

FedEx, which said it has "a strong relationship with retailers of all sizes," has started offering retailers extended hours for package pickup, partners with stores such as Dollar General to create customer pick up areas and is experimenting with a delivery robot.

UPS, which saw demand for next day air shipping increase 30% in the second quarter, has invested in TuSimple, an autonomous shipping business, and is forming a drone subsidiary called UPS Flight Forward. The company is also expanding its air fleet and is scheduled to add 11 cargo planes this year.

Next steps

The growing demand for fast shipping has weighed on the financial results for large shipping companies. More home deliveries means shipping companies make less per stop than if they delivered a lot of packages to one spot, like a convenience store.

Hoexter said that domestic margins at UPS have been under pressure for the past several years, and that is where analysts will look to see if its new investments and increased leverage with Amazon are working.

"As we get into peak season, have they found a way to stabilize those margins despite the growth of e-commerce? That's going to be the key for the stock. When you ask what do we look for its the margin side and pricing if we start to see that improving or stabilizing. That's the first step," Hoexter said.

With FedEx now out of the picture, UPS may also be able to gain some short-term leverage on pricing, Hoexter said. That opportunity may not last for long, as Amazon continues to expand its own delivery network and expects to have 70 planes in its fleet by 2021.

For FedEx, the separation means the company can show that its e-commerce success is not tied to Amazon.

"FedEx is just showing people that they don't need Amazon to be a good business, and they feel that they can continue to grow without Amazon. I think they wanted to just distance themselves from Amazon in a way that made their own growth story a little more clear to people," Ross said.

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https://www.cnbc.com/2019/09/01/fedex-ups-jockey-with-amazon-as-tech-giant-expands-into-shipping.html

2019-09-01 13:01:14Z
CAIiEHuSFEhTyvNcbHJGLDsx24YqGQgEKhAIACoHCAow2Nb3CjDivdcCMO7tngY

4 Reasons to Relocate in Retirement - Motley Fool

Many seniors wind up retiring in the same place they lived during their working years. And if the city or town you lived in throughout your career is filled with amenities, family members, and friends, then you may want to stay put during your golden years. At the same time, relocating in retirement could make for a more relaxed, stress-free lifestyle. Here are a few reasons to consider making a move.

1. You live somewhere with a high cost of living

Some cities are more expensive than others across the board. Often, living in a pricey city gives you access to better jobs and a higher paycheck, but once you stop working, that's no longer a motivating factor to stay. Therefore, if you live someplace where the overall cost of living is high, moving could allow you to better stretch your limited income.

Senior man and senior woman carrying moving boxes.

IMAGE SOURCE: GETTY IMAGES.

2. You live in an area with high income or property taxes

High taxes can be a source of financial stress in retirement, even if you live someplace that isn't all that expensive. Though you won't be collecting a paycheck from a full-time job, you'll still have income from Social Security, retirement savings (hopefully), or maybe a part-time job or business. The less tax you pay on that income, the more money you'll have left over to spend.

The same holds true for property taxes. Many seniors enter retirement with their mortgages already paid off, but even if you own your home outright, high property taxes can be brutal when you're on a fixed income. Moving someplace where it's cheaper to own a home could therefore help you better manage your limited income.

3. You live in a state that taxes Social Security

Most states do not impose a tax on Social Security benefits, but there are 13 that do:

  1. Colorado
  2. Connecticut
  3. Kansas
  4. Minnesota
  5. Missouri
  6. Montana
  7. Nebraska
  8. New Mexico
  9. North Dakota
  10. Rhode Island
  11. Utah
  12. Vermont
  13. West Virginia

The good news is that most of these states also offer exemptions for low-income to middle-income households, so if your retirement income isn't particularly high, you may avoid taxes on your Social Security benefits. The only states that don't offer an exemption at all are Minnesota, North Dakota, Vermont, and West Virginia. Still, it pays to consider moving someplace where you won't have to worry about state taxes on your benefits.

That said, some of the above states may offer a lower cost of living on a whole, so don't let taxes on Social Security benefits be the sole factor that informs your decision. Also, keep in mind that even if you manage to avoid Social Security taxes at the state level, you may be taxed on those benefits at the federal level, especially if they're not your only source of retirement income.

4. You live someplace where you absolutely need a car

Living in a walkable city, or one with public transportation, could save you a significant amount of money during retirement by allowing you to get by without a car. It costs $8,849 a year, on average, to own a vehicle, according to AAA.

Meanwhile, walking is free, and public transportation can be relatively cheap compared to automobile ownership, especially since many cities offer discounts to seniors. Living someplace walkable can also help keep you in shape, thereby saving you some money on healthcare.

Relocating in retirement isn't an easy thing to do. It costs money to pack up your life and move, but if you make that investment, it could make your golden years easier from a financial perspective. And who knows? You may find that your new city offers more activities and social opportunities than you had access to previously.

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https://www.fool.com/retirement/2019/09/01/4-reasons-to-relocate-in-retirement.aspx

2019-09-01 10:18:00Z
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The 3 Best Ages to Claim Social Security Benefits - Motley Fool

Whether you're already retired or plan to retire at some point in the future, the data doesn't lie: Social Security has a good chance of helping you to make ends meet.

According to data from the Social Security Administration, more than 3 out of 5 retirees lean on the program to account for at least half of their monthly income. Meanwhile, two separate polls from Gallup found that 90% of current retirees, and 83% of future retirees, will rely on Social Security as either a "major" or "minor" source of income. This means that deciding when to take Social Security just might be the most important decision seniors make.

Two Social Security cards and two one hundred dollar bills lying atop a Social Security payout schedule sheet.

Image source: Getty Images.

Your claiming age has a big impact on how much you'll receive from Social Security

Although there are a number of factors that can affect how much seniors are paid by Social Security, including your work history, earnings history, and birth year, it's your claiming age that can have the biggest impact on your monthly and lifetime payout.

As you may already be aware, Social Security allows eligible retirees to begin taking their benefit at age 62, or any point thereafter. The catch is that the program incents patience. For each year an individual holds off on taking their payout, it'll grow by approximately 8%, up until age 70.

All things being equal -- work history, earnings history, and birth year (which determines your full retirement age) -- a person claiming at age 70 could receive a monthly payout that's up to 76% higher than someone claiming as early as possible at age 62. The trade-off being that the person claiming at 62 could receive a (reduced) payout for up to eight years before the individual at age 70 receives their first payout.

Trying to figure out which claiming strategy works best for your situation isn't easy, especially given that we don't know our expiration date, and there's no concrete guide that works for everyone.

The words, time to retire, written and circled on a calendar.

Image source: Getty Images.

The three best ages to take your Social Security benefit

However, there is a new study from United Income that took a hard look at Social Security claiming data from the University of Michigan's Health and Retirement Study (HRS) to determine the ages where taking Social Security benefits was optimal. The results showed an almost perfect inversion of when people are taking benefits versus when they should be taking them.

According to the analysis from United Income, just 6.5% of the senior households that were included via the HRS would have made an optimal claiming choice by taking their payout at ages 62, 63, or 64. Yet, close to 4 out of 5 senior households that were analyzed had taken their payouts prior to reaching age 65. In layman's terms, these early claimants wound up leaving a lot of money on the table, at least in hindsight.

On the other end of spectrum, United Income was able to identify a handful of ages that maximized what claimants received over their lifetime. The data showed that 57% of seniors would have been better off waiting until age 70 to take their payout, with around 10% benefiting from an age 67 claim, and just shy of 10% from an age 69 claim. And yes, if you're curious, age 68 was the fourth-most optimal claiming age. In effect, more than 4 out of 5 seniors would be best off waiting until age 67 or later to begin taking their benefit. And, as a reminder, age 67 is the full retirement age for anyone born in 1960 or later.

A senior man playing chess near the beach.

Image source: Getty Images.

Your claiming strategy is a bit of science and luck

While the data is pretty clear that seniors would overwhelmingly be better off waiting to take their Social Security benefit, the fact remains that this suggestion won't work for everyone. That's because none of us knows (thankfully) our expiration date in advance, which is an important piece of information if we're going to maximize our lifetime payout from the program.

In order for seniors to have the best chance at maximizing their lifetime benefit, they'll need to really think about the variables that matter most to them. This involves taking into consideration your health history, financial situation (i.e., need for immediate income), and marital status, to name a few factors.

For example, if you're in excellent health; have no chronic health conditions; and have immediate family members, such as parents, who have lived well into their 80s, if not longer, science would suggest that you have longevity on your side. That would mean a later Social Security claim should give you the best chance to maximize your monthly and long-term payout.

However, some luck is involved, too. Without knowing our expiration date, we simply won't know if we made an optimal claiming decision until well after the fact. All we can say with certainty, at least from United Income's analysis via the HRS, is that far too many seniors claim Social Security benefits early, and it's resulted in a lot of money being left on the table.

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https://www.fool.com/retirement/2019/09/01/the-3-best-ages-to-claim-social-security-benefits.aspx

2019-09-01 10:06:00Z
52780368215006

Wall of worry: Why the rest of the year could be a wild ride for stocks - The Globe and Mail

Lower taxes, more government regulation? Experts weigh in on gas price inquiry - CBC.ca