Second Cup signs deal for $8-million loan following review of strategic options + MORE Dec 5th

Cover of ‘The Revenge of Analog’ by David Sax. (No Credit)
THE REVENGE OF ANALOG
By David Sax
Two-thirds of the way through this book full of middle-aged, middle-class white people finding markets for products that remind them of their childhood (vinyl, board games, paper notebooks, etc.), a Detroiter at a dive bar downs a shot of whisky and tells David Sax, “We put our value in technology jobs and forget those who built things. We treat them as inferior. If we continue that, our country is f–ked.”
This particular chapter is about Shinola, the Motor City producer of handmade watches that’s been slammed for making luxury goods most Detroiters can’t afford, but that, as Sax reminds us, has at least created half-decent manufacturing jobs. One salient impact of the digital revolution—including automation and the technological disruption of industry—has been to leave a lot of people out of work, and Sax’s championing of everything analog is most vital when the stakes are high…

Yes, you can take card fees out of charged tips, but your employees may resent the practice

MISSISSAUGA, Ont. – The Second Cup Ltd. (TSX:SCU) has signed a deal for a four-year, $8-million secured term loan from an affiliate of Serruya Private Equity following a review of its strategic options.
The company says proceeds from the loan will be used to repay its existing $6-million credit facility and for general corporate purposes.
Second Cup had established a special committee to review its strategic options. Such moves often result in a sale or other major transaction.
The company said Monday that the special committee has fulfilled its mandate and is no longer required.
The loan carries an interest rate of 10 per cent and includes warrants to purchase up to 600,000 common shares at a strike price of $2.75 per share.
The company has also agreed to nominate someone from Toronto-based Serruya Private Equity to sit on its board of directors.
The Second Cup was founded in 1975 and has more than 295 franchised and company-owned cafes in Canada.
The post Second Cup signs deal for $8-million loan following review of strategic options appeared first on Canadian Business – Your Source For Business News.

Cover of ‘The Revenge of Analog’ by David Sax. (No Credit)
THE REVENGE OF ANALOG
By David Sax
Two-thirds of the way through this book full of middle-aged, middle-class white people finding markets for products that remind them of their childhood (vinyl, board games, paper notebooks, etc.), a Detroiter at a dive bar downs a shot of whisky and tells David Sax, “We put our value in technology jobs and forget those who built things. We treat them as inferior. If we continue that, our country is f–ked.”
This particular chapter is about Shinola, the Motor City producer of handmade watches that’s been slammed for making luxury goods most Detroiters can’t afford, but that, as Sax reminds us, has at least created half-decent manufacturing jobs. One salient impact of the digital revolution—including automation and the technological disruption of industry—has been to leave a lot of people out of work, and Sax’s championing of everything analog is most vital when the stakes are high…

Company says proceeds will be used to repay its existing $6-million credit facility and for general corporate purposes