New owners of Provincial Aerospace on the upswing + MORE Nov 16th

The purchase of St. John’s-based Provincial Aerospace Ltd. by Exchange Income Corp. is generating a buzz in the investment community. As Terry Roberts writes, EIC is recovering nicely from a tough stretch of its own.

IRBIL, Iraq – Goran Mohammed had just completed his second year of university in the northern Iraqi city of Irbil when he dropped out to help his father run the family grocery store. When that still didn’t earn the family enough money, the 19 year old was forced to take a second job as a taxi driver.
“I would prefer to stay in school or go fight (against the Islamic State group) with the peshmerga, but my family needs every penny,” he said.
Mohammed’s difficulties reflect that of his region, where the semi-autonomous Kurdish Regional Government has struggled to stabilize the local economy in the face of a militant onslaught and an expensive financial dispute with the Iraqi central government in Baghdad.
Negotiations between the two sides yielded some progress Thursday after Baghdad agreed to release $500 million in frozen budget payments. In return, the Kurds will provide 150,000 barrels of oil per day for Baghdad to sell. The dispute, which resulted in a freeze on payments of Kurdistan’s share of the national budget, has had a significant impact on Kurds living in the north — many of whom have not received salaries in months…

This GIC rate is offered by Oaken Financial and was updated on 2014-10-06. Click on the link above to get more details or apply online.

Julie Gordon/Reuters
Bruce Sellery is a personal finance expert and author of the bestselling book The Moolala Guide to Rockin’ Your RRSP. He’s a columnist for MoneySense magazine and a regular guest on Cityline and The Exchange with Amanda Lang.
Dear Bruce,
My dad retired at age 58—thanks to a gold-plated pension from his job as a senior manager at a pharmaceutical company. I’m 32, and I want to retire early too, but my consulting job doesn’t offer a pension at all. Am I doomed to work until I’m 72, or is there hope that I can enjoy a cushy retirement like my dad?
- Jude Kolbuc, Edmonton
There are six kids in my family. In an attempt to diffuse our endless squabbles, my parents would tell us, “Life is not fair.” It’s true that full-time jobs with juicy pensions were more plentiful a generation ago —43 per cent of workers had a defined benefit plan in 1977 compared to 27 per cent in 2012, according to Statistics Canada. Your generation is often stuck with contract jobs, and are on their own to fund retirement…

This GIC rate is offered by DUCA Financial Services and was updated on 2014-10-20. Click on the link above to get more details or apply online.