Selasa, 12 November 2019

Transit strike: Bargaining to resume on Wednesday as drivers threaten overtime ban - Vancouver Sun

If talks on Wednesday aren't productive, Unifor negotiators say job action could escalate as early as Friday with drivers refusing overtime shifts.

Job action by 5,000 Metro Vancouver transit workers will escalate Friday, with bus drivers refusing to work overtime, if a collective agreement isn’t reached in the next two days.

On Tuesday, after almost two weeks of stalled talks and limited strike action, Unifor, the union that represents bus and SeaBus operators and maintenance workers, reached out to the Coast Mountain Bus Company, an operating firm of regional transit authority TransLink, to resume bargaining. Sessions are scheduled for Wednesday and Thursday.

“We will see whether or not the company is serious about achieving a resolution to this dispute, and if they are, bargaining can be wrapped up in a matter of hours,” said Gavin McGarrigle, Unifor’s western regional director, who said the union remains “deeply skeptical” of the company’s motives.

If a deal isn’t reached, strike action will escalate Friday with a one-day OT ban for bus drivers. Drivers have already been instructed to refuse overtime shifts for that day.

“We will also consider additional days next week and in the weeks to come,” McGarrigle said. “Ultimately, disruption will continue to escalate until a full strike will occur. We know that the impact of this escalation will significantly impact service for the passengers this Friday, and in various other ways to come.”

The union has estimated that 10-15 per cent of bus service would be taken offline if drivers were to refuse OT.

Both the union and TransLink have said it’s difficult to predict what bus routes could be affected by a driver overtime ban.

In an emailed statement, Coast Mountain president Mike McDaniel said he welcomes the return to bargaining and said he’s optimistic that the two sides can find common ground.

“We are encouraged by this development and look forward to reaching an agreement which works for all parties involved,” McDaniel said.

Thus far, job action has consisted of a uniform ban for bus drivers and an overtime ban for maintenance workers.

As of Tuesday afternoon, there had been 126 SeaBus sailing cancellations since the strike began Nov. 1, and last Friday frequency was reduced on 25 bus routes during the morning rush because of the OT ban by maintenance workers.

TransLink spokeswoman Jill Drews said the transit authority uses “a relatively small amount of overtime,” with 4.8 per cent of all bus-maintenance hours paid as OT last year, and 10 per cent of SeaBus staff hours.

According to TransLink, bus service has since returned to almost normal — maintenance workers were able to catch up over the weekend — with only four trip cancellations related to job action Tuesday morning. Drews said the number of buses the company has in reserve to replace out-of-service buses varies day-to-day.

Wages and working conditions for bus drivers are the major issues.

The deal being offered to transit workers includes a 12.2-per-cent pay increase for skilled trades over four years, and a 9.6-per-cent pay increase for transit operators over the same period. The company has also offered to implement measures to improve working conditions.

Under the current contract, conventional bus drivers start at $22.83 an hour during a 30-day training period, then go from $24.46 an hour to $32.61 an hour after 24 months of employment. Those driving 40- and 60-foot buses get benefits that include medical, vision and dental, a pension plan and family bus passes.

Unifor is seeking an increase of 15.2 per cent over four years for bus drivers and 16.7 per cent over four years for maintenance workers. It’s also asking for improved benefits and better working conditions, including a guaranteed minimum break time for drivers while they’re on shift.

McGarrigle said the company’s last offer was “ridiculous” and said it had loopholes “big enough to drive a SeaBus through.”

Coast Mountain has said the union’s request would work out to an added $680 million in costs over 10 years, while the company’s offer would mean an increase of $71 million over 10 years.

Last week Coast Mountain asked the union to return to bargaining, but the union refused because it said the company had failed to address a wage gap for skilled-trades workers and minimum breaks for bus drivers.

B.C. Premier John Horgan, who warned last week that lengthy job action, similar to a four-month transit strike in 2001, will not be tolerated, said he was grateful to hear the two parties were planning to resume bargaining.

“I believe in free collective bargaining — it’s the way forward,” Horgan said Tuesday afternoon, after an unrelated announcement in Richmond. “I’m hopeful that both sides will be able to find an agreement so the travelling public will carry on and go about their business. That’s the objective that we all want, whether we’re on the workers’ side of the table or on the employer’s side.”

— With files from Gordon McIntyre

jensaltman@postmedia.com

twitter.com/jensaltman

Related

Metro post-secondary schools operate as normal

Metro Vancouver post-secondary students hoping the transit strike will delay their term papers and exams may find themselves disappointed.

The University of B.C., Simon Fraser University and other schools are operating as normal and encouraging students, faculty and staff to consider carpooling, car-sharing and cycling, after the union representing transit workers warned that job action could escalate by the end of this week.

The schools are urging people to keep an eye on TransLink’s alerts website as well as their own social media channels for information about transit operations.

“Classes are proceeding, and faculty and staff are expected to attend work,” said a UBC campus notification sent out Tuesday. “However, you are advised to plan for a potentially longer commute.”

“All activities and operations continue as scheduled at SFU, including classes, labs, tutorials, and exams,” an SFU update said.

UBC says the Vancouver campus will not close in the event of an all-out strike. The university has formed a working group to keep an eye on the situation and find ways to mitigate any strike impact. SFU has a contingency-planning team doing the same, and says it will provide an update if transit disruptions escalate.

Both universities are advising students to contact their professors or instructors if they are unable to get to campus due to strike activity.

They are recommending students, staff and faculty proactively consider arranging alternative transport.

BCIT, Langara, Douglas and Kwantlen also say they will continue to operate as normal, and are warning people to find other ways to get to class.

Meantime, BCAA’s car-sharing firm Evo says more customers are signing up for the service, which operates in Vancouver, North Vancouver, Burnaby, New Westminster and the Vancouver International Airport, as well as SFU, UBC and BCIT.

Evo spokeswoman Sara Holland said in an email that sign-ups were up 36 per cent in the days following Nov. 1, when job action began, compared to the same period last year.

“It’s hard for us to know if that’s tied to the transit job action, but we have seen an increase,” Holland said.

Holland said Evo is watching the situation closely, increasing staffing at its call centre, and may set up “pop-up” home zones as well as move cars close to SkyTrain stations and along busy transit corridors.

The company also recently started offering free metered parking which allows members to park closer to transit stations.

— Nick Eagland

neagland@postmedia.com

twitter.com/nickeagland



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November 12, 2019 at 10:37PM

Driller Ensign Energy shares fall on slashed dividend and quarterly loss - CBC.ca

Poor drilling market prospects and a desire to save money to pay down debt and for other priorities convinced Ensign Energy Services Inc. to chop its dividend in half and kill its dividend reinvestment program, the company said Tuesday.

The Calgary-based driller's shares closed down more than 14 per cent or 38 cents at $2.30, their lowest point in at least 10 years, after it announced it will now pay a quarterly dividend of six cents per share, down from 12 cents.

"The dividend is the obvious headline news this quarter," said president and chief operating officer Bob Geddes on a conference call after markets closed.

"Quite simply, the board decided to address the dilution and eliminate the DRIP while at the same time retain substantially the same cash payout. The cash payout ratio drops to a very conservative 12 per cent of cash flow and still provides a healthy yield."

The DRIP allowed investors to use their dividends to purchase more stock at a discount directly from the company without paying brokerage fees.

Changes came as surprise

The dividend changes came as a surprise because the company has the forecasted cash flow to support continuing those programs, pointed out analyst Waqar Syed of AltaCorp Capital in a report.

The annual dividend yield will now be about nine per cent versus about 18 per cent before the cut, he said.

Ensign reported a third-quarter loss of $37.8 million, compared with a loss of $32.8 million in the same period last year.

Revenue was $393.5 million, up from $288.7 million in the third quarter of 2018, mainly due to the acquisition of 89.3 per cent of Trinidad Drilling Ltd. in the fourth quarter of 2018 and the remaining stake in the first quarter of 2019.

The company has completed the integration of Trinidad, adding access to key markets in the Texas Permian and Middle East regions, Geddes said on the call.

He noted that Canada is now Ensign's third-largest division with 17 per cent of adjusted earnings versus 20 per cent from its international division (which includes Australia, the Middle East and Latin America) and 63 per cent from the United States.

Flat activity expected in some markets

All three markets are expected to experience flat levels of activity through the rest of 2019 and into next year, the company said.

Geddes welcomed news last week that the Alberta government will exempt new conventional oil wells from its oil production curtailment program, pointing out it will likely encourage some operators to "put a few more rigs back to work this winter."

The province has gradually been easing quotas under the program which started last January to support local crude prices.



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November 13, 2019 at 07:50AM

Here's how transit operators plan to increase their strike action Friday - Vancouver Is Awesome

most awesome bus driver / transit strike
Photo: Elana Shepert / Vancouver Is Awesome

Unifor, the union representing bus operators and transit maintenance workers, has announced that inaction from the employer will cause further transit disruptions by the end of the week.

Unifor notes that if the employer cannot bring new offers to the negotiations, it will introduce a one-day overtime ban for transit operators on Friday, Nov. 15. Further, it adds that it will consider additional overtime bans next week, too.

Unifor lead negotiator Gavin McGarrigle and other Unifor representatives held a news conference in New Westminster.

McGarrigle mentioned how, “TransLink CEO Kevin Desmond could see his pay soar by 25% to nearly $500,000 a year, while the head of the Toronto Transit Commission earns $150,000 less each year.”

“CMBC President Michael McDaniel has been on the job for about a year and a half and could see his salary soar by 18% to about $372,000,” he said.

McGarrigle added that, “both of these transit executives make more than the Prime Minister.”

As such, Unifor says it will return to the bargaining table, but that further inaction from CMBC will result in further action from the union.

“We’ve been bargaining for months. Transit workers in Metro Vancouver have been very patient with the employer,” said Jerry Dias, Unifor National President. “But ultimately our members have a legal right to withdraw their services if the disrespect from Translink and CMBC continues and a contract cannot be achieved through bargaining alone.”

At issue are working conditions, benefits, and wages.

Since the dispute began, nearly 100 Seabus sailings have been cancelled and the impacts of an overtime ban in maintenance have begun to impact numerous bus routes across the region.

In response to the statement, Michael McDaniel, President of Coast Mountain Bus Company, said that, “Coast Mountain Bus Company welcomes the union’s return to the bargaining table.  We are encouraged by this development and look forward to reaching an agreement which works for all parties involved.”

“All of us are committed to providing quality transit services to our customers every day of the year.  I’m optimistic that we can find common ground to ensure this can continue.  Given the formal bargaining process is set to resume, we will not be providing further comment at this time.”



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November 13, 2019 at 02:30AM

Rona ordered to stop saying its stores are ‘Proudly Canadian’ - Financial Post

The U.S. owners of the Rona home improvement chain say they strongly disagree with but won’t dispute a ruling barring them from using the taglines “Truly Canadian” and “Proudly Canadian.”

A complaint to regulator Ad Standards about the slogans adorned to the front of the shops triggered the ruling against Rona owner Lowe’s Cos. Inc., which was reaffirmed on appeal.

“Rona is not owned and controlled by a ‘truly Canadian’ entity,” the regulator said in its decision. “Council concluded, therefore, that the claim ‘truly Canadian’ conveyed an inaccurate general impression.”

Rona, founded in 1939 in Quebec, was Canadian-owned until competitor Lowe’s, based in Mooresville, N.C., bought the retailer in 2016. The American company had argued that it should be allowed to continue using the slogans because of Rona’s Canadian founders, Canadian headquarters and number of Canadian executives.

Lowe’s “strongly disagrees” with the ruling, a spokesperson told CTV News Nov. 11. The U.S. company said it couldn’t appeal the verdict further because Ad Standards does not have such a mechanism.

Lowe’s rebranded dozens of Rona stores to the Lowe’s moniker after the takeover and closed 24 Rona stores and two Lowe’s outlets in Canada last year.



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November 12, 2019 at 11:50PM

U of T names Michael Sabia director of the Munk School of Global Affairs & Public Policy - News@UofT

Michael Sabia, one of the country’s most accomplished leaders in business, investment and public policy, has been named the new director of the University of Toronto’s Munk School of Global Affairs & Public Policy.

The university’s Agenda Committee of Academic Board recently approved the appointment of Sabia, who is currently CEO of pension fund Caisse de dépôt et placement du Québec (CDPQ), which has more than $325 billion of assets invested globally, for a five-year term beginning Feb. 1, 2020.

A U of T alumnus, Sabia will draw on his considerable experience in both the public and private sectors – he once ran Canada’s biggest telecom and helped privatize its largest railway – to help realize the Munk School’s growing ambitions in Canada and on the global stage.

“CDPQ is now a global financial institution with investments around the world. Over the last decade, we have had to navigate through an increasingly complex and turbulent geopolitical scene,” Sabia said.

“With the lessons learned and the global relationships built, I am looking forward to working with the scholars, students and staff at the Munk School to continue building an institution engaged in the world and widely admired around the globe for the quality of its ideas and its practical solutions to the issues facing us all.”

The Munk School, created through a merger last year of the Munk School of Global Affairs and the School of Public Policy & Governance, is a leading hub for interdisciplinary research, teaching and public engagement that houses world-class researchers and more than 50 academic centres, labs and programs.

It’s also home to 20 teaching programs, including Munk One – a first-year foundational program that focuses on global problem-solving.

Sabia will take over the role of director of the Munk School from Professor Randall Hansen, who is currently serving as interim director.

“I’m delighted to welcome Michael Sabia back to the university as the Munk School’s new director,” said President Meric Gertler. “Throughout his career, he has made significant contributions to public policy, to business and to the world of investment. I know he will bring the same kind of engaged thought leadership to the school.

“I would also like to thank Professor Hansen for his excellent leadership and guidance at the school. His work has helped set the stage for future success.”

Sabia, who earned a bachelor’s degree in political economy from U of T before completing two graduate degrees at Yale University, took over the role of chief executive at CDPQ in 2009 and proceeded to build the organization into a global financial institution with more than $325 billion in assets under management.

He also oversaw the implementation of a new investment strategy that made CDPQ an internationally recognized leader among investors working to address climate change, develop urban infrastructure and forge global industry partnerships.

Before that, Sabia held several senior positions at Bell Canada parent BCE Inc., including the role of CEO from 2002 to 2008 when he led a strategic transformation of the telecommunications giant. He also served as chief financial officer at Canadian National Railway, where he worked with then-CEO Paul Tellier to successfully launch CN as a publicly traded corporation through what was then the largest-ever initial public offering in Canadian history.

Sabia spent several years in the public service prior to entering the corporate world. He was director general of tax policy in the federal department of finance, where he was one of the architects of a comprehensive reform of Canada’s tax system, and served as deputy secretary in the Privy Council Office.

More recently, Sabia served on Finance Minister Bill Morneau’s advisory council on economic growth. He is currently co-chair of the G7 Investor Leadership Network on Climate Change, Diversity and Infrastructure Development, as well as co-chair of long-term investment, infrastructure and development for the World Economic Forum.

In addition, Sabia is a trustee of the Foreign Policy Association of New York and a member of the Asia-Pacific Foundation of Canada’s Asia Business Leaders Advisory Council. He was named an Officer of the Order of Canada two years ago, and has received an award from the non-profit Public Policy Forum for his many contributions to public policy in Canada.

President Gertler said Faculty of Arts & Science Dean Melanie Woodin, Vice-President and Provost Cheryl Regehr and he have asked Sabia “to lead a consultative process within the university to determine whether establishing the Munk School as a free-standing faculty would be a constructive step forward.”

“I’m immensely proud of everything that has been accomplished at the Munk School so far,” President Gertler said.

“With the invaluable financial and ongoing commitment of the Munk family and other generous donors, and with the dedication of the school’s first-class faculty and staff, I am confident of our continued success.”

Read more at the Caisse de dépôt et placement du Québec

Vous pouvez lire l'article de U of T News en français en cliquant ici



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November 12, 2019 at 11:58PM

Ensign Energy slashes dividend in half, reports $37.8M Q3 loss - BNNBloomberg.ca

CALGARY -- Poor drilling market prospects and a desire to save money to pay down debt and for other priorities convinced Ensign Energy Services Inc. to chop its dividend in half and kill its dividend reinvestment program, the company said Tuesday.

The Calgary-based driller's shares closed down more than 14 per cent or 38 cents at $2.30, their lowest point in at least 10 years, after it announced it will now pay a quarterly dividend of six cents per share, down from 12 cents.

"The dividend is the obvious headline news this quarter," said president and chief operating officer Bob Geddes on a conference call after markets closed.

"Quite simply, the board decided to address the dilution and eliminate the DRIP while at the same time retain substantially the same cash payout. The cash payout ratio drops to a very conservative 12 per cent of cash flow and still provides a healthy yield."

The DRIP allowed investors to use their dividends to purchase more stock at a discount directly from the company without paying brokerage fees.

The dividend changes came as a surprise because the company has the forecasted cash flow to support continuing those programs, pointed out analyst Waqar Syed of AltaCorp Capital in a report.

The annual dividend yield will now be about nine per cent versus about 18 per cent before the cut, he said.

Ensign reported a third-quarter loss of $37.8 million, compared with a loss of $32.8 million in the same period last year.

Revenue was $393.5 million, up from $288.7 million in the third quarter of 2018, mainly due to the acquisition of 89.3 per cent of Trinidad Drilling Ltd. in the fourth quarter of 2018 and the remaining stake in the first quarter of 2019.

The company has completed the integration of Trinidad, adding access to key markets in the Texas Permian and Middle East regions, Geddes said on the call.

He noted that Canada is now Ensign's third-largest division with 17 per cent of adjusted earnings versus 20 per cent from its international division (which includes Australia, the Middle East and Latin America) and 63 per cent from the United States.

All three markets are expected to experience flat levels of activity through the rest of 2019 and into next year, the company said.

Geddes welcomed news last week that the Alberta government will exempt new conventional oil wells from its oil production curtailment program, pointing out it will likely encourage some operators to "put a few more rigs back to work this winter."

The province has gradually been easing quotas under the program which started last January to support local crude prices.



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November 12, 2019 at 07:29PM

China gets backlash from HK and mainlanders over new rules - The Business Times

Tue, Nov 12, 2019 - 5:50 AM

Shanghai

BEIJING'S new plan to use real estate rules to calm tensions in Hong Kong and forge a closer bond with mainland China is being met with scepticism on both sides.

The city's embattled Chief Executive Carrie Lam said on Thursday that China had agreed to introduce 16 measures that will benefit Hong Kong and Macau residents under the Greater Bay Area integration programme.

The most eye-catching proposal is one that will make it easier for Hong Kongers to buy an apartment in nine cities in Guangdong province by exempting them from additional levies.

In Shenzhen, a city of about 12 million people that has some of the highest home prices in the nation, non-local Chinese residents have to pay five years of tax before purchasing a property, unless they have a residency permit.

Residents of Hong Kong will now be able to buy as many as two apartments, tax free.

The reaction was swift, and blunt.

Mainland Chinese took to social media to complain about residential prices that are already too high and to express anger they're being treated as inferior.

"This rule will be challenged on the grounds of fairness," said Zhu Wence, a Shenzhen-based property analyst. "Residents feel they contribute to the city, pay loads of tax and bear more stringent property curbs."

In Hong Kong, meanwhile, users of an online forum that's become popular among protesters said they wouldn't want to move to mainland China anyway.

There's simmering resentment towards Beijing for its anti-democratic policies. The new measures come right in the thick of one of Hong Kong's worst political crises.

A Hong Kong university undergraduate, who fell in a car park near a protest earlier last week, died last Friday, fuelling further turmoil.

While often violent protests are driven by demonstrators' frustration with the political system, sky-high property prices are also seen as a source of discontent. Last month, the Hong Kong government unveiled plans to help first-time home buyers break into the world's least-affordable property market.

Existing home prices in Hong Kong rose for the week ended Nov 3 for the first time since August, a secondary private residential property index showed. BLOOMBERG



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November 12, 2019 at 04:50AM