Word: canadianization
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...operated well below capacity for a number of years, so it came as no surprise when they announced plans to move production to Venezuela and Mexico, respectively. Unfortunately, Collingwood's tale of economic woe is being repeated in communities across Ontario and Quebec--Canada's industrial heartland. "A high Canadian dollar is an absolute killer," says Peter Nygard, chairman of Nygard International Ltd., a manufacturer of women's clothing in Winnipeg, Man., whose $1 billion in annual revenue comes largely from...
...reverse side of the strong loonie, the $1 Canadian coin that gets its name from the lake bird pictured on it. Canadians have been pouring over the border to bargain hunt, and the unemployment rate hit a 33-year low of 5.8% in October, owing to gains in the natural resource and service sectors. But the world's eighth largest economy has lost 329,800 manufacturing jobs since the Canadian dollar began its marathon climb five years ago. From an all-time low of 62˘ in 2002, the turbocharged loonie shot past the U.S. greenback for the first time...
Although Katzive predicts the loonie will drop below par by the end of 2008, that may be too little too late for many. "No one can adjust cost and pricing fast enough," says Jayson Myers, president of Canadian Manufacturers & Exporters, the country's largest trade and industry association, referring to the loonie's 18% run-up over the past 10 months. "We're going to see more manufacturers close down as a result...
...five years before an uprising at New York City's Stonewall Inn sparked the gay-rights movement, Canadian writer Jane Rule published a novel with a radical premise. A female professor goes to Nevada to get a divorce, falls in love with a woman, and the two live happily ever after. Desert of the Heart, a landmark in gay fiction, inspired the 1985 film Desert Hearts, the first major feature to favorably depict a lesbian relationship. Rule...
...rink has been an incredible success," the mayor said recently. "Look how many people have come." He has promised to open two more free ice rinks on the outskirts of the city, claiming the project would also increase the number of Mexicans in figure-skating tournaments. U.S. and Canadian skating champions whizzed around the rink at its opening earlier this month, and a German team performed choreography from Grease to the applause of some 60,000 spectators...