Ford Canada CEO says company not wavering from $700M investment in Ontario + MORE Feb 17th

A subsidiary of Wawanesa Mutual Insurance Company announced Thursday it is acquiring Western Financial Group and Western Life Assurance from Quebec-based Desjardins Group.

It will take 15 years for Bombardier to repay the $372.5-million loan it is receiving from the federal government, the company’s chief financial officer said Thursday.
During a quarterly earnings conference call, John Di Bert shed some light on the terms of the federal assistance package announced last week for the Montreal-based aerospace giant, including how long it has to repay the money.
“It will be over a significant amount of time, the program length about 15 years, including a bit of a grace period the first two years, so no repayments the first two years,” Di Bert said.
The company expects to receive the money in instalments over four years, with anywhere between $70 million and $100 million flowing to Bombardier annually.
The interest-free loan is to support Bombardier’s Global 7000 business jet and CSeries passenger aircraft projects. Under the arrangement, Bombardier will repay Ottawa based on royalties for the number of CSeries sold and revenues generated from the Global 7000…

Whether it’s through a photo on social media or a casual conversation with a friend, the Canada Revenue Agency is always watching and listening. And their investigators will pursue you tirelessly if they think you’ve been lying on your tax return. Their subject of choice? These days, it’s anyone and everyone.  “We always think it’s only the rich who the tax man is interested in but it’s the little fish they like the best,” says Paul DioGuardi, a senior tax lawyer and author of The Taxman is Watching. “The Internet is becoming a favoured weapon for the CRA to find and analyze all kinds of data so they can watch people they think are cheating on their taxes.”
Here’s five ways the CRA may be watching you that you probably weren’t aware of.
1. Your social media
Any of your open social media accounts are publicly accessible and some posts could prompt a CRA investigation into your financial life. From the CRA’s point of view this is a legitimate practice on their part because posts on social media really aren’t private…

Ford’s commitment to investing in its Ontario facilities has not wavered since the election of U.S. President Donald Trump, the head of the automaker’s Canadian operations said Thursday.
“We’re very committed to our manufacturing footprint here in Canada,” Mark Buzzell said in an interview during a media day at the Canadian International AutoShow.
Ford promised last fall it would inject $700 million into its Canadian operations as part of a labour deal reached with Unifor, which represents about 6,700 workers at the company’s facilities in Ontario.
That money will go towards Ford’s engine plants in Windsor, Ont., and its assembly plant in Oakville, Ont., said Buzzell, who took over as Ford Canada’s president and CEO last month.
“We’ve got a really good globally competitive situation for us here in Oakville,” Buzzell said, adding that the vehicles it produces there _ the Ford Edge, Ford Flex, Lincoln MKX and Lincoln MKT _ are exported to more than 100 countries…

The president’s plan would require massive, not to mention expensive, use of eminent domain.