By Jennifer Wells Business Columnist Tues., May 14, 2019 “When I’m buying some company, people call and congratulate me: ‘Hey, you’ve bought BC Sugar — isn’t that great!’ And I’m thinking these people don’t get it. Anybody can buy a company; all you do is pay for it. What determines the success of the deal is what we do with it. We’ve got to fix it, make it run better, get the costs down, straighten out its market position; there’s real work to do. So I never feel good when I’ve bought something.” That’s Gerry Schwartz being interviewed by Peter C. Newman 20 years ago when Newman was penning volume three of The Canadian Establishment. Newman dubbed the arriviste challengers to the old-money, died-in-the-wool crowd the “Titans.” In pondering this, Schwartz said to Newman, delightfully, “All that Bud McDougald shit is gone.” The new players did seem to … [Read more...] about The end of WestJet? With luck, it’s a new beginning
One million years bc
SARAJEVO: Balkan telecoms and media company United Group B.V. plans to expand in its markets in southeastern Europe and invest 700 million euros (US$786.4 million) over five years there, the company's CEO told Reuters in an interview."Our plans have accelerated, so we've been investing (at an) even ... higher (rate) than we originally planned in (the) telco business," CEO Victoriya Boklag said in a phone interview.The company's revenues grew 20 percent to nearly 650 million euros in 2018, she said.Founded in 2000, the group operates in the six ex-Yugoslav nations and has nearly 3.8 million active accounts in its television, internet and telephony segments. It employs 4,500 people, 70 percent of whom work in its telecoms division.Private equity firm BC Partners in March completed the acquisition of a majority stake in United Group from KKR, in one of the biggest private equity deals in the region. KKR retained a substantial minority stake.The company operates fixed networks in four out … [Read more...] about Balkan cable company United Group to boost telcoms investment
During her preschool and kindergarten years, Zhu Ruitian, like most of her peers in Chinese cities and towns, took extracurricular classes to learn English, piano, fencing and the abstract strategic board game Go. But since she began elementary school two years ago, the second-grader has had less time and interest in taking so many classes. In addition to taking extracurricular lessons in English, which is considered a must-have language to remain competitive among her peers, Go is now the only other activity the 8-year-old devotes her spare time to. The ancient board game was chosen in preference to piano and fencing because Zhu’s mother, surnamed Chen, believes it can stimulate the mind and help develop her daughter’s reasoning ability. “Of course, above all, it is because Ruitian loves it,” Chen said. “I think that compared with other hobbies, it is more engaging as it requires two people to play, which is good for an only child like Ruitian. Moreover, … [Read more...] about In China, Go players rise to the challenge
By Kevin McGran Sports Reporter Mon., May 6, 2019 Let me start today with a correction. Last week I answered a question by saying that the Patrick Marleau’s contract could not be bought out since he signed it when he was over 35. That’s not true. It can be bought out, it’s just that the cap hit will remain with the team. So, kind of, there’s no point. But maybe there is. Credit here to a faithful reader, Dave B, who patiently corrected me. I’ll let him explain. “Hi Kevin. Thanks for answering my question last week about getting another team to buyout Marleau. I have a follow-up comment about it. In your answer, you said that Marleau's contract can't be bought out because it was signed when he was over the age of 35. According to capfriendly.com, a 35+ contract can be bought out, but the team receives no cap relief from the buyout. They would only save 1/3 of the salary remaining on the contract, with the rest payable over … [Read more...] about Dubas Mailbag: Can the Leafs trade Patrick Marleau?
NADI – From this South Pacific island state, the economic weather forecast for the Philippines is fair, with a chance of rain showers but no major typhoon in the near future. This is the country forecast of the Asian Development Bank, as far as I can glean from the briefings given by its officials and my chats with them in this Fijian city, where the ADB is holding its 52nd annual Board of Governors meeting. Philippine Gross Domestic Product growth is forecast at 6.4 percent for 2019-2020 while inflation is seen easing to 3.8 percent this year and a further 3.5 percent in 2020. The ADB does not expect the projections to be affected by political turbulence that is usual in an election year. Corruption is also not a problem, at least for projects funded by the ADB, according to the bank’s director general for Southeast Asia, Ramesh Subramaniam. Even concerns about the country falling into a Chinese debt trap have no basis at this point, ADB chief economist … [Read more...] about Bullish on the Philippines