Canada Leading The World In Economic Recovery
May 10, 2010
Filed under: Breaking News — 7:31 PM
Let’s get back to some good news, shall we? Amidst all the negative environmental and economic occurences going in the world, Canada remains at the top of the list of countries who are steadily battling its way out of the damage done by the recession. While it is relatively slow and far from perfect, the rebounding of the Canadian economy is both rapid and exceptional when compared to the rest of the world.
As The Toronto Star‘s business reporter, Madhavi Archarya-Tom Yew reports today, the nation’s auto industry just happens to be among the strongest in the nation, significantly helping Canada’s bounce back from the recession. The two strongest provinces, showing financial growth, adds Archarya-Tom Yew, are Ontario and British Columbia.
According to the Conference Board of Canada, the economies of both provinces will expand by 3.8 per cent in 2010. Says Marie-Christine Bernard, associate director of provincial forecasting: “There are clear signs of economic recovery from coast to coast. The improved domestic economies of Ontario and B.C., along with increased demand from the United States, will support a strong rebound in both provinces.”
In Ontario, many labour-based jobs have been offered since last year. Manufacturers, in fact, have hired over 33,000 new employees over the past two years. In B.C., the recent Winter Olympics helped to boost the province’s economy by 0.7 per cent so far this year. In addition, significant growth in the forestry, manufacturing and construction sectors have helped with the economic boost.
Although Ontario and British Columbia are leading the way, Archarya-Tom Yew notes that other provinces are following suit. Saskatchewan is showing growth of 3.5 per cent, while Alberta’s economy is climbing at a 3.3 per cent rate. Manitoba is not that far behind as well.
Strong consumer spending in Quebec is helping that province’s financial situation while growth in the Atlantic provinces is also developing. While below the national average, the economic growth of 2.4 per cent in Newfoundland and Labrador and 1.8 per cent in New Brunswick are positive signs.
“Overall,” writes Archarya-Tom Yew, “Canada’s economy shrank by 2.6 per cent in 2009, but is expected to expand by 3.2 per cent in 2010, the conference board noted in its report, with household and government spending driving growth.”
Without question, we are all in need of more positive financial news. So thankfully, Canada continues to lead the way in showing the world how to bounce back from the global economic crisis. A steady and ongoing surge in the right direction will hopefully result in a recovery that takes place within a better-than-expected time frame. This is something that all Canadians can be very proud of.
Mom’s The Word This Sunday
May 7, 2010
Filed under: News — 8:30 PM
With all of the doom and gloom of this past week’s blogs, we figured that we would go into the weekend on a positive note. And while yes, the Louisiana oil spill among the other environmental mishaps of 2010 would put a downer on just about any situation, we should remember that there is always time for enjoyment and happiness. We hope, of course, that you will bring that sentiment into the weekend with you as we prepare to honour moms everywhere with Mother’s Day this Sunday.
This Sunday, May 9th, is the day of all days to celebrate mothers by letting them know how much they all mean to us. And while we believe that moms should be shown this courtesy and compassion all year round, we know that Mother’s Day is the day when sons and daughters go that extra mile to prove just how much they love their mommies.
Thing is though…it can get expensive. While the traditional, tried-and-true route is to show up with flowers and a card, possibly accompanied by jewelry or even a trip to a restaurant for dinner, there are other less expensive ways to tell your mother just how special she is to you.
Earlier this week, Carla Kessler of HealthyFinancialHabits.com wrote of the various ways that people can celebrate Mother’s Day without having to necessarily break the bank. Many moms love either gardening or cooking, if not both, she says. One of Kessler’s first suggestions is to consider building your mother an herb garden. Noting that this can be a homemade gift, this tip helps for you to be both thoughtful and cost-efficient at the same time.
She reveals that “all you really need to create an herb garden is a few pieces of scrap wood, some potting soil and a few herb seeds of your choice. Simply creatively build your herb box using screws and other fasteners.” Herbs grown from herb gardens, says Kessler, are among the most flavorful you can find. If you have children yourself, consider having them paint the herb garden. There’s nothing that warms a mother’s heart more than a gift that reminds her of her grandchildren’s love all year-round.
Gift baskets are also great tokens of love and appreciation for moms on Mother’s Day. These gifts are generally expensive, however, creating your own basket helps for your present to be a more personal and cash-saving experience. Kessler recommends grabbing some fresh fruit from your local grocery store. Locate a basket and some filler from a dollar store. Tissue paper and other crafts that help liven up the basket would also be nice.
You may also throw in some family pictures, especially those that include you with your mom into the gift basket. This loving gift shows the time and effort that you put into making your mother happy. The pictures, obviously, will also bring back fond memories that you may share throughout Mother’s Day.
The time you spend with your mom, of course, is the greatest gift of all. Kessler asks that you “ask yourself this question: ‘When was the last time I spent a day with my mother?’ If you really can not remember, maybe you should consider spending time with your mother this Mother’s Day.”
“Most of the time, it’s the simple things in life that really make a big difference,” she continues, “While most of us are caught up in the fast pace of everyday life, we all need to take a step back and think about the things that make occasions such as Mother’s Day truly unique.” To all the moms out there, we wish you a very happy Mother’s Day!
Disasters Disrupting Global Economy
May 6, 2010
Filed under: Breaking News — 6:57 PM
As has been made obvious over the past few months, 2010 has already had its fair share of disasters. Between the earthquakes in both Haiti and Chile, the Icelandic volcano eruption and the recent Louisiana oil spill, the events of this year are already wreaking havoc on the global population as well as the environment.
Of course, it hasn’t been lost on us that these unfortunate occurences have also taken their toll on the world’s economy. Before the year started, it appeared as if there was a slow build towards recovery from the recession taking place throughout the globe. With the recent disasters, however, comes a major hindrance to the rebuilding process.
As reported earlier today by the QMI Agency, the recent string of tragic events is causing great disruption to the global economy. According to TD economist Martin Schwerdtfeger: “Compared with a few months ago, all of these events have imposed increased risk on global growth. A few months ago the economies were holding pace very soundly.”
The report goes on to reveal that a number of European countries are experiencing a debt crisis that is severely impacting the overall development of the global economy. The financial situation of Greece is especially of great concern. Economists fear that other European nations such as Spain, Italy, Portugal and Ireland may soon follow suit with their own problems with national debt.
Sadly, it appears as if things continue in the negative direction that they have been going in for these nations, the world will have another economic disaster on its hands. As the chief investment officer at BMO Harris Private Bank, Paul Taylor put it: “It could be the real monkey wrench in the works. We are very nervous to see people rioting on the streets of Greece and hope for a happy outcome. If not all bets are off.”
Naturally, the massive cloud of volcanic ash produced by last month’s eruption in Iceland continues to decimate the travel industry in Europe. According to the QMI report, this disaster has likely cost the aviation industry in Europe billions of dollars in lost revenue, not to mention the damage that is being done to businesses that are unable to export their goods.
In addition, “the massive oil spill in the Gulf of Mexico may also have an affect on the U.S. economy, with tourism and fishing industries particularly hard hit. The cost to the fishing industry in Louisiana is pegged at $2.5 billion US, while the Florida tourism industry could lose $3 billion US, according to Sanford Bernstein figures.”
And while Canada has been safe and sound from major environmental tragedy this year, it does not mean that the nation’s economy is immune from detriment. With the global economy taking yet another hit, the possibility of nations decreasing their need for Canadian commodities could soon impact Canada’s impressive financial growth. We all hope, obviously, that this is a disaster that can be avoided.
How You Can Help
May 5, 2010
Filed under: Breaking News — 7:45 PM
This week, the Synergy Merchant Services Blog has been discussing the alarming effects that the recent oil spill in the Gulf of Mexico is having, and will continue to have on our environment. Saddened by the news of the Deepwater Horizon oil rig mishap, people from all over the world are hoping to see a quick resolution to what is being predicted as becoming the worst oil spill in American history.
Thankfully, earlier this week, Mary Judkis of U.S. News & World Report wrote of the seemingly-impossible-to-give helping hand that the average, every day citizen can give to this cause. For those that are in the Louisiana and Florida areas, you may volunteer your help by calling 1-866-448-5816.
Floridians are encouraged to assist in the picking up of trash on the state’s beaches in an effort to minimize the impact of the spill once it hits land. This is expected within days. Judkis writes that “natural debris”, however, should be left alone to provide shelter for birds and other animals.
Of course, back here in Canada, although not directly affected by the oil spill, our environment could always use your help. Ensuring that littering is avoided and that recyclable materials are placed in the appropriate bins are just everyday easy-to-do tasks that are truly appreciated by your eco-system.
As well, all those who are not living in the Louisiana or Florida areas can provide assistance my making generous donations at OilSpillVolunteers.com. Among those organizations who will benefit from your charity are The Alabama Coastal Foundation and Save Our Seabirds. We encourage you to further research these organizations to determine your comfort level in supporting them.
As Judkis points out, these organizations would appreciate donations from out-of-towners moreso than their arrival to either Louisiana or Florida to help out with the volunteer efforts. They especially advise those who are in the affected areas and are untrained to not personally assist distressed animals for safety reasons.
Informs Judkis: “Injured animals can be defensive and may try to bite you–also, crude oil can be harmful when it comes in contact with human skin.” Instead, residents of these impacted states may call 1-866-557-1401 to leave a message if they become aware of the location of an injured animal.
Another way for just about anyone to assist in the relief effort of wildlife affected by the harmful crude oil is to make a simply purchase of some dishwashing detergent. Judkis reveals that by purchasing a bottle of Dawn, you can contribute $1 towards the Marine Mammal Center and the International Bird Rescue Research Center. However, she advises, that “you must go online to activate this donation – it’s not automatic with your purchase.”
Sadly, with the earthquakes in both Haiti and Chile this year, 2010 has started off in somewhat of a disastrous way. The oil spill in the Gulf of Mexico has certainly not helped matters. However, all of the abovementioned tragedies have shown the compassion that so many people across the world still exhibit. We can, of course, be thankful for that.
Oil Spill Among Worst Of Its Kind
May 4, 2010
Filed under: Breaking News — 6:57 PM
As we touched on in yesterday’s blog, April’s horrible oil rig mishap off the Louisiana coast continues to pump hundreds of thousands of litres of crude oil into the Gulf of Mexico. This devastating occurrence has been wreaking havoc on sealife among many other elements of the eco-system for two weeks now. It is being called the worst disaster of its kind in America.
The week after the spill began, Campbell Robertson and Leslie Kaufmann reported in The New York Times that the rate of the oil leaking into the water was much quicker than what was first anticipated. They wrote that “Rear Adm. Mary E. Landry of the Coast Guard said a scientist from the National Oceanic and Atmospheric Administration had concluded that oil is leaking at the rate of 5,000 barrels a day, not 1,000 as had been estimated.”
The Admiral emphasized that the leak was taking place at 5,000 feet below the surface of the water, so the new estimate was based on observations of the oil slick developing at the surface. The now sunken rig has left huge masses of brown oil globs sitting atop the once blue ocean. The devastation taking place beneath those globs can only be imagined.
Other reports have confirmed that dead sealife have already begun to wash ashore beaches throughout Louisiana and Mississippi. This, of course, only brings back into focus how important it is to protect our environment. Many environmentalists are calling for the stoppage of off-shore oil drilling to prevent future tragedies such as the current crisis in the Gulf of Mexico.
Others are just hoping that some sort of stoppage to the leaking of oil can be made. In addition, many are anxious to know just how the cleanup process, which is being assumed by BP, the rig’s owners, will take place. Robertson and Kaufmann explained that, in part, a burning process will work to eliminate most of the oil in the water.
They write that “cleanup crews began conducting what is called an in-situ burn, a process that consists of corralling concentrated parts of the spill in a 500-foot-long fireproof boom, moving it to another location and burning it. It has been tested effectively on other spills, but weather and ecological concerns can complicate the procedure.”
For many people, this oil spill refurbishes memories of the Exxon Valdez spill of 1989. Taking place in Prince William Sound, Alaska, an oil tanker headed for Long Beach, California hit a reef causing more than 40 million litres of crude oil to spill out into the ocean. 2010′s oil spill is projected to eclipse that of the Exxon Valdez disaster.
At this point, it is difficult to determine just how long the so-called cleanup process will take. As we all know, an environmental disaster such as this one will leave behind its tragic effects for years to come.
Oil Rig Mishap Disastrous For Environment
May 3, 2010
Filed under: Breaking News — 10:58 PM
Back on April 20th, just two days before the world celebrated the 40th annual Earth Day, a horrible disaster took place off the coast of Louisiana. As you are more than likely already aware, a deep-water rig operated by BP PLC, formerly known as British Petroleum, experienced a serious mishap resulting in a broken pipe near the ocean floor that is now pumping thousands of litres of crude oil into the Gulf of Mexico.
Two days later, the severely damaged rig sank, killing 11 people. To make matters worse, the oil spill is poised to become the worst such disaster in American history. As we all know from learning of such disasters in the past, the pumping of oil into our oceans is horrific for the entire planet. Everything from ocean life to our eco-system is at risk of futher deteoriation.
Today, Lee-Ann Goodman of The Canadian Press reports that BP is accepting the responsibility of the oil cleanup and will pay compensation for property damage, personal injury and business losses. According to BP’s chief executive officer, Tony Hayward: “We are responsible, not for the accident, but we are responsible for the oil and for dealing with it and cleaning the situation up.”
Sadly, the damage that is being done by the crude oil which continues to mercilessly spew into the Gulf of Mexico is irreversible. Animals of the sea are already perishing in abundance, fishing has been haulted and of course, the Earth is facing another major environmental catastrophe.
Earlier today, Cal Jillson, a political science professor at Southern Methodist University in Dallas put the disaster into perspective: “I don’t think anyone imagined that the pipe could break off at the ocean floor a mile down and could not be turned off. It’s almost unimaginable how terrible this will be if they cannot stop it.”
This disaster comes at cruelly ironic time. Or perhaps at a most opportune one, although it is hard to fathom that there can be a positive outlook on this situation. Synergy Merchant Services has long practiced the concept of conservation, recycling and resusing. We most certainly put that into practice as we participated in Earth Day last month.
Today, the talk around the office surrounded how one can even feel comfortable driving to work everyday knowing that the gas in our tanks comes at the risk of causing further irreparable harm to our environment. We know it is up to us to never forget that we can all contribute to either the world’s health or destruction.
Goodman writes of New Jersey lawmaker Frank Pallone’s urging of United States President Barack Obama to halt off-shore drilling. According to Pallone: “This (oil spill) happens to be one that’s incredibly catastrophic. That’s why you shouldn’t have offshore drilling in environmentally sensitive areas…we need to move towards renewables, have windmills off the coast.”
And while a ban on off-shore drilling may be a preventive measure from future disasters, it cannot put a plug into the gushing of oil that is currently causing havoc in the Gulf of Mexico. This occurrence is yet another reminder that we each should do our part in respecting and protecting the environment in our own ways every single day. We will continue to meet with this topic in our blogs thoughout the week.
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