Why everyone feels like they’re in the middle class + MORE Jun 17th

Aerial view over the Montreal suburb and middle class homes. (FOTOimage/Getty Images)
Most Canadians think of themselves as middle class. In fact, the term is so elastic that politicians know they have just about everybody’s ear when they talk about “middle class” goals and aspirations. We think they are talking to us, whether it’s about wage increases, debt, taxes, or savings vehicles to help us save for our kids’ post-secondary education.
How do we define the middle class? Depends on who you talk to. Bank of Canada governor Stephen Poloz last year said the term applies to those people who hold most of their wealth in the equity of their homes. Meanwhile, Prime Minister Justin Trudeau described the typical middle-class Canadian family as one with $90,000 in household income.

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Ontario’s securities watchdog has permanently banned Garth Drabinsky from becoming a director or officer of a publicly traded company, bringing to a close a 16-year-old case against the former theatre impressario.
The Ontario Securities Commission says Drabinsky, who defrauded investors of an estimated $500 million, is also prohibited from acting as or becoming a registrant in Ontario.
The OSC case against Drabinsky was first launched in 2001, but was put on hold until the conclusion of his criminal case for his role in the Livent Entertainment scandal.
Drabinsky was found guilty of two counts of fraud and sentenced to a five-year prison term back in 2009 for manipulating company financial statements and orchestrating a kickback scheme.
He appealed the convictions all the way up to the Supreme Court of Canada, which dismissed the application.
Two other executives, Gordon Eckstein and Myron Gottlieb, were also found guilty of fraud in the Livent scandal and later banned from serving as a director or officer of a public company under settlements reached with the OSC…

Fast-food chain McDonald’s has ended its Olympic sponsorship deal three years early.
The International Olympic Committee says confidential financial terms of the immediate separation were agreed to.
IOC marketing director Timo Lumme says “we understand that McDonald’s is looking to focus on different business priorities.”
McDonald’s was among 13 top-tier sponsors signed through the 2018 Pyeongchang Winter Olympics and 2020 Tokyo Games.
An Olympic sponsor since 1976, McDonald’s had signed an eight-year extension to run through 2020.
McDonald’s had exclusive rights in the “retail food services” sponsor category.
The IOC says it will review the sales categories rather than sign a direct replacement.
McDonald’s remains a national sponsor of the 2018 Olympics with domestic marketing rights in South Korea.
The post McDonald’s ends Olympic sponsorship deal 3 years early appeared first on Canadian Business – Your Source For Business News.

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