Word: canadians
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...Asia--moved more than 300 jobs from Canada to Mexico in the past two years in anticipation of a stronger loonie. "When you're supplying new vehicles, you have to make sourcing decisions three or four years ahead of production," says Hogan, who is asking his 52 remaining Canadian plants for annual productivity gains of 6% to 10% to avoid offshoring more jobs. Gerry Fedchun, president of the Automotive Parts Manufacturers' Association, says his industry can adjust to a strong loonie rivaling the greenback, but there will be consequences. "We're going to shrink dramatically if the Canadian dollar stays...
...Canadian dollar hit its all-time high was not, in fact, Nov. 7, 2007. The pinnacle came more than 140 years earlier, when Confederate troops reached the outskirts of Washington, D.C., forcing Union soldiers to decamp from Virginia and defend their capital. The Canadian dollar that day was worth...
...something big was happening in Canada in 2007. The economy boomed even as that of its southern neighbor showed signs of cooling. The engines of Canadian growth are shifting from the traditional heartland, Ontario and Quebec, to the resource-rich regions of the West and Newfoundland. In 2007, some Canadians won. Some lost. Or, as the Canadian Press put it in September: "High Loonie Is Bad for Canadian Pigs, Good for American Lettuce...
...brought, and for the rare bird's-eye view that Canada got, looking down on its best friend and biggest rival in the world - where, let us not forget, people rarely fail to find the term loonie hilarious to begin with - the lofty loonie is TIME's Canadian Newsmaker of the Year...
Canada's currency did dive after the dollar coin was introduced - all through the 1990s and into the early part of this century. January 2002 was the bottom. At it's all-time low then, the Canadian dollar was worth just less than 62 U.S. cents. Recovery since then, dramatic and steady, began with something as dull as a rise in oil prices. With that, the laborious process of drawing viscous bitumen out of Alberta's oil sands became ever more viable. Massive shovels churned the earth, digging up the tons of sand needed to produce each barrel...