Trudeaus really pissed off...

Retired_Can_Soldier

The End of the Dog is Coming!
Mar 19, 2006
11,210
419
83
59
Alberta
The Bell Media layoffs came after the telecom and media giant was granted more than $40 million in annual regulatory relief — a fact that infuriated Heritage Minister Pascale St-Onge who said Bell broke its promise to invest the relief cash into news.



Trudeau said, "It was a garbage decision." Having been a party to numerous garbage decisions since taking power, I'd say we have to give Trudeau that one.
 

petros

The Central Scrutinizer
Nov 21, 2008
108,486
10,933
113
Low Earth Orbit
He knew this was in the works two months ago .
Think of it this way. Bell is so big that without the cash and without the layoffs it would have put the entire TSE into Shitsville numbers.

End of Q4 is 3 weeks away.
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
22,544
7,553
113
Regina, Saskatchewan
Didn't they do the same thing the CBC did?
CBC axes 600 jobs. Bell has axed 4800. Now the user, Trudeau, knows what it's like to be used.
Maybe he needs to send 40 million to Rebel media? LOL
Prime Minister Justin Trudeau is deeply concerned about Bell Media firing 4800 workers, including hundreds of journalists, in their latest round of layoffs and wishes someone would do something about the rampant unchecked greed of Canadian corporations.

“I’m pretty pissed off about what’s just happened,” Trudeau said during a press conference on Friday. “The hollowing out of local journalism in Canada is profoundly disturbing and I can’t understand why no one is stopping this.”

Trudeau, who has been the head of Canada’s government for almost a decade, made his disgust at the inaction of those in positions of power to save Canadian journalism very clear, going so far as to call the decision made by Bell, which receives $40 million in annual regulatory relief due to a law the Liberals updated last year and will receive $30 million more due to the Online News Act the Liberals passed in December, garbage.
The Bell Media layoffs came after the telecom and media giant was granted more than $40 million in annual regulatory relief — a fact that infuriated Heritage Minister Pascale St-Onge who said Bell broke its promise to invest the relief cash into news.

Trudeau said, "It was a garbage decision." Having been a party to numerous garbage decisions since taking power, I'd say we have to give Trudeau that one.
Pascale St-Onge…that name sounds familiar…Without the government taking steps to ensure Canadian broadcasters can buy popular foreign TV content, the Canadian broadcasting system won’t survive, Bell told the Liberal government in March.

“Canada’s broadcasting system will not survive without new legislative and regulatory rules that ensure Canadian broadcasters have access to popular foreign content,” Bell said in the letter.

“We need access to content to generate revenues, which in turn allows us to fund and promote Canadian storytelling and produce original news and information programming in communities across the country from a Canadian perspective.”

The government chose not to include the company’s suggestions in the draft policy direction. A spokesperson for Heritage Minister Pascale St-Onge said “we reviewed carefully the many proposals brought forward throughout this process,” and that the final policy direction would be released “soon.”
 

IdRatherBeSkiing

Satelitte Radio Addict
May 28, 2007
14,569
2,297
113
Toronto, ON
Reminds me of the financial crisis where the American banks and companies spent their government bailout money on executive bonuses.
That is pure capitalism. Sears Canada declared itself bankrupt and it;s final act they gave all the execs big bonuses with money from the workers pension fund. No worker got any money from the bankruptcy process.
 

Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
55,305
6,913
113
Washington DC
That is pure capitalism. Sears Canada declared itself bankrupt and it;s final act they gave all the execs big bonuses with money from the workers pension fund. No worker got any money from the bankruptcy process.
Actually, pure capitalism doesn't involve getting big checks from the government. Our situations are one of the downsides of hybrid capitalist/socialist systems.
 

Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
55,305
6,913
113
Washington DC
I don't remember the details but this was not the government funds (CPP, OAS, etc) so I think it was private -- administrated by Sears for their retired and retiring workers.
It remains a mystery to me why any corporate pension fund, whether mandated by the government or by the union contract, would be within the control of the company. Ya gotta know they'll raid it at some point.
 

Tecumsehsbones

Hall of Fame Member
Mar 18, 2013
55,305
6,913
113
Washington DC
‘08/‘09? We all remember that one regardless of the country we live in. Fanny May & Freddy Mack rippled economies well outside of the USA.
When you're the big dawg, that happens. About the best thing I can say on the subject of U.S. business laws and ethics is that they're better than most.

Kinda like Burger King is better than McDs.
 
  • Like
Reactions: Ron in Regina

pgs

Hall of Fame Member
Nov 29, 2008
26,448
6,852
113
B.C.
Actually, pure capitalism doesn't involve getting big checks from the government. Our situations are one of the downsides of hybrid capitalist/socialist systems.
Sarah Palin called it crony capitalism, but what does she know ?
 

Ron in Regina

"Voice of the West" Party
Apr 9, 2008
22,544
7,553
113
Regina, Saskatchewan
Trudeau didn’t react this way when CBC announced 800 jobs were being eliminated just a few months ago. He didn’t react like this when his favourite newspaper, the Toronto Star, laid off more than 600 people and shut down print operations of several community newspapers.

Nope, in those instances, and when Postmedia – parent company to this newspaper – shed jobs, there were crickets, Trudeau wasn’t feigning outrage.

Secondly, as former Labour Minister Lisa Raitt has pointed out, job cuts of this magnitude would require a company like Bell to give 16 weeks notice unless it received a waiver from the government. I can’t confirm that a waiver was given but I can confirm Bell briefed the government ahead of time and that the company had been blunt with government for some time about problems they were facing.

Trudeau went over the top on these job cuts, which are mostly not media jobs, because he’s had a bad few weeks since Parliament came back and he needed good headlines. Journalists like writing stories beating up on media companies and touting how important their jobs are.

Well, it worked, and Trudeau got the headlines. But let’s look at his own record on policy for the media.
If he wanted to support Canadian media companies, he would be overhauling the CRTC and stripping away the arcane rules and procedures that came from another era, aren’t relevant anymore but still increase costs for every operator.

Instead, he’s given the CRTC (Cough…Bill C-18…Cough) more power, this time to regulate the internet in ways that actual creators trying to find a new way to be successful online didn’t ask for and, in fact, spoke up against.

So yeah, as Trudeau would say, I’m pretty pissed off.

The Prime Minister wants to make it sound like he cares and that he is a defender of this industry when, really, he’s part of the problem.