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TVA Group: Two basic agreements between the employer and the union

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TVA Group and union SCFP-687, which brings together unionized employees of its Montreal, Quebec and regional offices, announced Saturday that they have reached two agreements in principle.

• Also read: More than 500 jobs cut within the TVA group

Negotiations began in December 2023 and were conducted with the help of an arbitrator appointed by the Minister of Labor.

“The negotiations led to the parties agreeing on the parameters of the new collective agreements and on the remedies for the employees affected by the announcement of November 2, 2023,” said a joint press release from both parties.

Recall that 547 layoffs were announced in November.

“Both parties indicate that they are satisfied with the circumstances of the negotiated agreements, which allow them to address the major challenges facing the industry while maintaining excellent working conditions and ensuring high-quality journalistic reporting throughout Quebec,” both parties clarified .

CUPE-687 and the TVA Group undertake not to comment further “until the agreements are submitted for a vote in the meetings of the two union units.”

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BlackRock acknowledges that ESG advocacy could have a negative impact on its business

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Fox News contributor Liz Peek, National Review reporter Caroline Downey and author Batya Ungar-Sargon respond on “Kudlow” to President Biden's claim that climate change is worse than nuclear bombs.

Investment management company BlackRock admitted in its annual filing with the Securities and Exchanges Commission that its CEO Larry Fink's advocacy of environmental, social and governance (ESG) policies could harm its “reputation” and bottom line.

“BlackRock’s business, size and investments result in significant media coverage and increasing attention from a broad range of stakeholders,” said the filing late last month. “This increased scrutiny has resulted in, and may continue to result in, negative publicity and adverse action for BlackRock.”

It continued: “Any perceived or actual action or omission of such, or perceived lack of transparency on the part of BlackRock with respect to matters under review such as ESG, may be viewed differently by different stakeholders and could adversely affect BlackRock's reputation and business, among other things through withdrawals or terminations by customers as well as legal and official measures and controls.”

Fink, who has advocated for investments in clean energy, has come under scrutiny from conservatives, including several Republican attorneys general.

BLACKROCK SAYS “MEGA FORCES” LIKE AI AND THE SHIFT TO GREEN ENERGY ARE TRIGGERING STRUCTURAL ECONOMIC CHANGES

Larry Fink met with Republicans at a summit in Houston last month after being blacklisted by the state over BlackRock's ESG advocacy. (Kirk Sides/Houston Chronicle via Getty Images / Getty Images)

“The overlapping web of personal and business relationships between major mutual fund directors and BlackRock raises red flags about potential conflicts of interest and further calls into question the misguided investment strategies in the name of ESG,” Virginia Attorney General Miyares said in a press release announcing the move last year , that Virginia would join a coalition of states demanding answers from BlackRock.

Tennessee Attorney General Skrmetti said last year when he announced a lawsuit against BlackRock over ESG: “[s]Some public statements show a company that focuses exclusively on return on capital, others show a company that pays particular attention to environmental issues. Ultimately, I want to ensure that businesses, regardless of size, treat Tennessee consumers fairly and honestly.”

BlackRock said it rejects the lawsuit's claims.

BLACKROCK, STATE STREET TO FACE IN-HOUSE ESG INVESTIGATION

And last month, Texas blacklisted the company over its ESG policies, prompting Fink to address the state's lieutenant governor, Dan Patrick, and other Republican officials at an energy investment summit in Houston.

According to the New York Post, BlackRock has assets of about $10 trillion, of which around $700 billion is attributable to ESG.

As ESG becomes more controversial, it has also affected other companies.

Bank of America appeared to be reneging on its 2021 promise not to finance new coal projects, saying in its year-end Environmental and Social Risk Policy Framework filed in December that new coal mines and facilities or oil drilling in the Arctic would now Such projects would have to expect “enhanced due diligence”.

Some states, such as New Hampshire, Texas and West Virginia, have passed laws to prevent banks from refusing to finance coal projects and have even tried to enforce so-called “environmental, social and governance principles” in companies, according to The New to criminalize York Times.

The conservative response to environmental issues in business has led other companies to withdraw from certain environmentally friendly initiatives.

Earlier this year, a coalition of 12 Republican state agriculture commissioners wrote a letter to six major U.S. banks, including Bank of America, detailing their net-zero ambitions, opening a new front in opposition to what is being called calling them “woke investing” The fight has been led primarily by state attorneys general and state finance officials.

All six banks are members of the Net-Zero Banking Alliance (NZBA).

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Fox Business has reached out to BlackRock for comment.

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Tax season: a slight increase that goes almost unnoticed

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Tax season is in full swing and this year the Canadian Taxpayers Federation (CCF) has seen an increase in income taxes.

In a report released in December 2023, the FCC found that the majority of Canadians will have to pay more income taxes.

This increase ranges from an additional $9 for annual income less than or equal to $30,000 to $347 for annual income of $80,000 or more.

“In general, it probably won't affect you too much because it's not like they're raising taxes to an insane extent. However, given Canada's high level of debt, everyone's budgets are already stretched,” personal finance expert Barry Choi told Global News, adding that “every penny counts these days.”

While the government of Canada is increasing taxes in what may seem minimal to some, the Canadian Taxpayers Federation has identified 51 national governments that have provided tax relief during the pandemic or in an effort to ease the burden of inflation. These governments include more than half of the G7 and G20 countries and two-thirds of the Organization for Economic Co-operation and Development (OECD) countries. Canada is a member of all three organizations.

Changes highlighted in the FCC's annual report also include higher alcohol and carbon taxes, increases in maximum employment insurance premiums and a second Canada Pension Plan (CPP) increase imposed by the federal government.

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Republicans in the House of Representatives are demanding answers from Google about the woke Gemini AI

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politics

By Jon Levine

Published March 2, 2024, 12:01 PM ET

Republicans in the House of Representatives are demanding documents from Google to find out what involvement the US government had in influencing the company's artificial intelligence program, Gemini.

On Saturday, the House Judiciary Committee sent a letter to Alphabet, the parent company of Google and YouTube, insisting that all communications between the government and Alphabet related to Gemini be turned over to the committee by March 17.

“In light of new reports about how Alphabet intentionally influenced its Gemini AI model by giving it instructions that skewed the results reported to Americans. . . “We are writing to inform you that the Committee considers the subpoena to be material relating to this technology,” said the letter, written by Committee Chairman Ohio Rep. Jim Jordan.

Rep. Jim Jordan is demanding answers from Google about Gemini. AP The House Judiciary Committee sent a letter to the parent company of Google and YouTube, insisting that all communications between the government and Alphabet related to Gemini be turned over to the committee. Portal

Jordan said he was alarmed by internal reports within the Gemini team that it had followed instructions from the Biden White House that AI must advance “justice” – a left-wing idea that argues that black people and others Historically marginalized groups should be promoted and spotlighted by whites and other groups that have not been historically marginalized – regardless of their merits.

Google's Gemini was widely derided after it was revealed that the system refused to produce images of white people and instead spat out “diverse” depictions of the founding fathers, popes and Vikings.

“Given that Alphabet has a history of censoring First Amendment-protected speech in response to requests and demands from government agencies, the Committee is concerned about possible First Amendment violations that have occurred in connection with Alphabet's Gemini model “The letter continues.

Google's AI Gemini has created many images like this “woke” diversity pope. Woke AI has placed emphasis on prioritizing social justice and “justice” over truth and accuracy from Google Gemini

Imgesu Cetin, founder of Genie AI, which focuses on data analysis, said Wake AI is a serious problem on the technology horizon.

“It says don’t write anything racist or sexist, but then you start influencing the truth. George Washington was not black. So there’s a really big danger in manipulating reality,” she told The Post.

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This country home is selling for $2.16 million

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Hundreds of properties in Quebec change hands every day, most of them without us knowing the exact details. That was before we became interested… Here are the latest transactions that caught our attention.

A magnificent home in the Village of Brome, a hamlet in the Eastern Townships north of Sutton entirely separate from Lac-Brome, has just sold for $2.16 million.

The 375 square meter two-story home is located at 64 Friars Lane Road and has five bedrooms, four bathrooms, a powder room and two garages. Built in 1993, the property has undergone significant improvements over the years.

Real estate - Village de Brome

Edouard Gamache and Brian Dutch, Engel & Volkers

The house sits on a huge, fully landscaped 12,900 m2 or 1.30 hectare lot, which includes, among other things, an in-ground swimming pool, a pond, a pool house and a screened porch.

Sellers Brian Dutch and Michel Gamache purchased this property in January 2005 from a woman named Dorothea Elarde for $340,000. They brought it back on the market almost 20 years later.

Real estate - Village de Brome

Edouard Gamache and Brian Dutch, Engel & Volkers

An amount of $2,498,000 was announced last August. In October, the call price was reduced to $2.2 million. Recently, it finally sold for $2,162,500, which is 13.4% (or $335,500) below the expected price six months earlier. That's still six times the original $340,000 paid.

In the most recent three-year appraisal roll, this residence was assigned a value of $1,124,900. This was an 89.3% increase compared to the previous municipal assessment of $594,100.

For 2024, municipal taxes are $5,664. Added to the purchase price for purchasers is a $30,670 transfer tax payable to the Brome Village Municipality.

– In collaboration with Philippe Langlois.

Excerpted from the Journal's weekly real estate column. If you hear of an interesting transaction, do not hesitate to share it at [email protected]

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California gives Waymo the green light to expand robotaxi operations

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Waymo is now allowed to operate its self-driving robotaxis on highways in parts of Los Angeles and the Bay Area after a California regulator approved its expansion plans (PDF) on Friday. This means the company's cars are now allowed to drive at speeds of up to 65 miles per hour on local streets and highways in approved areas. In a statement to The Washington Post, Waymo spokeswoman Julia Ilina said the company's expansion will be “careful and gradual” and that it has “no immediate plans” to expand service to highways.

Now, the CPUC has concluded that Waymo has, in expanded areas, “focused on continually evaluating and improving its technology, safety practices, and human-involved aspects of its operations to minimize the risk of driverless passenger services.” The decision gave Waymo permission to begin expanding immediately.

CPUC wrote in its decision that it denied a request from the Los Angeles Department of Transportation (LADOT) for evidentiary hearings on “disputed facts” because it had not identified “material disputed facts that could be resolved through formal hearings.” LADOT also asked the CPUC to wait until a California law, Senate Bill 915, that would give cities more regulatory influence over robotaxis is clarified, but the CPUC called that and other arguments “outside the scope of delegated authority.” of the staff”.

According to the commission, several groups that wrote to CPUC in support of the expansion “generally highlighted the potential safety, accessibility, economic and environmental benefits” of the Waymo service. Some still had concerns, like the American Council of the Blind, which said the CPUC should not approve Waymo's application without beginning “the process” of establishing new safety and accessibility standards. The Commission declined to do so, calling these and other regulatory issues “matters for broader AV policy.”

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Former “Apprentices” are suing Trump Media over an alleged stock dilution plan

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Downward Angle Symbol A symbol in the form of an angle pointing downwards. Andy Litinsky and Wes Moss (left) and Donald Trump (right). Dimitrios Kambouris/WireImage for Vogue via Getty Images, Justin Sullivan via Getty Images

  • The co-founders of Trump Media & Technology Group accused the company of conspiring to dilute their shares.
  • Andy Litinsky and Wes Moss, former contestants on “The Apprentice,” introduced the project in 2021.
  • The lawsuit could complicate an upcoming shareholder vote on a merger that would take the company public.

Two co-founders of former President Donald Trump's media company have filed a lawsuit alleging that company executives planned to strip them of shares that could be worth hundreds of millions of dollars ahead of a possible merger.

Andy Litinsky and Wes Moss, who met Trump while appearing on “The Apprentice,” filed the lawsuit through their partnership, United Atlantic Ventures (UAV).

In the lawsuit, obtained by The Washington Post, they allege that executives, including Trump, used “eleventh-hour corporate maneuvers before the merger” to dilute their shares in the company.

Trump Media's press office did not immediately respond to a request for comment from Business Insider outside of regular working hours.

The lawsuit is the latest of three that could complicate an upcoming shareholder vote on a long-pending merger that would take the company public.

The offer would see Trump's company, the parent company of his social media network Truth Social, merge with blank-check company Digital World Acquisition.

Litinsky and Moss first approached Trump in 2021 with a pitch for a Trump-branded media startup after he was banned from Twitter, and they agreed to a deal that gave Trump a 90% stake and UAV, according to The Post 8.6% admitted.

The new lawsuit alleges that Trump and other executives sought to increase the amount of authorized shares from 120 million shares to 1 billion shares, which it says would reduce Litinsky and Moss' stake to less than 1% before the merger in the report.

Trump's shares after the merger would be worth more than $3 billion at Thursday's share price, while UAV's stake would be worth nearly $300 million, according to a Securities and Exchange Commission filing obtained by Digital World.

The sum would be a welcome financial boost for the former president, who is facing enormous legal costs of more than $450 million.

The lawsuit also alleges that Trump Media's board planned to give new shares to “Trump and/or his employees and children,” according to The Post.

The media previously reported that Trump called Litinsky in October 2021 and asked if he would give some of his shares to Trump's wife Melania, but he declined.

Litinsky and Moss left Trump Media shortly after UAV founded the company following a dispute with company executives, but retained their shares, according to Digital World's SEC filing.

The two-year-old attempted merger between Trump Media and Digital World Acquisition Corp has faced ongoing delays, in part because of an SEC investigation into possible securities violations.

Ahead of the final shareholder vote on March 22, the merger still faces complications as legal hurdles continue to rise.

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Working half an hour to buy a Big Mac

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If there's one safe haven in the world of food that has always been associated with accessibility, it's McDonald's.

But the fast food giant is facing criticism from all sides these days. In the US in recent months, many customers have posted photos on social media showing Big Mac trios for more than $18 – almost $25 CAD.

It's still astonishing that despite its 40,000 stores and enormous market power, McDonald's is unable to keep its costs under control.

You are not crazy

Nostalgics will say that it was cheaper in their time. As an economist, I always like to point out that while prices are rising, so are wages. In general, the “real” wage in Canada has increased by almost 50% since the 1980s.

However, that doesn't seem to be the case with the Big Mac. For this reason, mathematician Hélène-Sarah Bécotte had fun following the evolution of the price in relation to the minimum wage.

In 1986, the minimum wage was $4.35 an hour and the Big Mac cost $1.89: you had to work 24 minutes to afford the famous sandwich. Starting in 2023, the minimum wage will increase to $15.25: the burger costs $7.47… 29 minutes!

So this means that Quebecers are behind in terms of purchasing power, expressed in Big Macs per hour.

Greed that hurts

In contrast to grocery sales, fast food is a highly competitive market. Since its founding in the 1940s, McDonald's has mastered the art of doing things quickly, well and cheaply – a rare combination in the business world.

These values ​​seem to have been lost in recent years; In 2023, the company admitted that the average price of its products increased by more than 10% (while inflation fell below 4%). This led McDonald's CEO Chris Kempczinski to recognize that the company was now considered unaffordable “for people making less than $45,000 a year.”

The share price has now risen 60% since 2020. Shareholders 1, customers 0.

And there's still gaming at McDonald's! With gross margins of 92% on soft drinks and 97% on coffee, we can certainly cut everything by a few percentage points and still make a reasonable profit.

Whose fault is it?

At a time when franchisees are facing a significant decline in the profitability of their restaurants, the company recently announced it would increase franchisee royalties, something it had not done in thirty years.

The food industry has been in a real legitimacy crisis for two years; Consumers feel like they are quickly being left out and have little alternative to these huge companies run by managers who are out of touch with reality.

In the case of fast food, voting with your feet and rewarding those who are truly committed to fighting inflation will always be the best way.

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