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Why Delta’s great deal on a Boeing 777 may not point to a ‘huge bubble’ in aircraft

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The CEO of Delta Air Lines Inc. made waves in the aviation industry shortly before Christmas when he said he had signed a letter of intent to buy a used Boeing 777 for just US$7.7 million — a 97 per cent discount from the list price of a new one. …

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Where did the potential buyers of Canadian Oil Sands disappear to?

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Unless something dramatic happens between now and Friday, Suncor’s planned, albeit hostile, acquisition of Canadian Oil Sands is expected to play out as anticipated. While shareholders may not like the all-paper offer, they will support the transaction because the alternative of owning an independent company that trades lower – is …

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Tough times, rising costs have chewed up 25% of Canada’s small investment firms: IIAC

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TORONTO — Restructuring and consolidation in a tough economy and escalating regulatory costs have led to the disappearance or reconstitution of a full 25 per cent of investment firms in Canada during the past three years, according to the Investment Industry Association of Canada. More than 50 boutique firms are gone, …

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Canadian crude — the world’s cheapest oil — falls to record low as slump deepens

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A deepening oil market slump is adding fresh pain for producers of the world’s cheapest crude as the Canadian heavy grade reached a record low, raising the prospect of more production coming offline. Spot prices for Western Canadian Select fell to US$19.81 a barrel on Wednesday, the lowest since tracking …

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Ontario Teachers’ Pension Plan finds new chief investment officer in Denmark

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The Ontario Teachers’ Pension Plan has appointed a new chief investment officer to replace longtime CIO Neil Petroff, who retired in June. Bjarne Graven Larsen, who will also serve as executive vice-president, takes the role Feb. 1, and will report to chief executive Ron Mock. Graven Larsen is a former CIO …

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Two unions join chorus against Canadian Pacific Railway Ltd’s Norfolk Southern Corp bid

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Two trade unions representing workers at No. 4 U.S. railroad Norfolk Southern Corp have joined a growing chorus of opposition to an unsolicited bid from Canadian Pacific Railway Ltd, one in an unpublished letter sent to the U.S. rail regulator and the other in an interview with Reuters. The moves …

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Consultant Steve Pinkus urges corporate leaders not to outsource transformational change

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Steve Pinkus is a self-employed management consultant who, over the years, has been part of the “clean up crew” on numerous change assignments for private and public enterprises. Author can now be added to his list of skills. His book, titled Big Change, defines itself as a 10-step plan to …

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Linamar stock rout doesn’t reflect auto-industry reality, CEO says

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The CEO of Canadian auto-parts supplier Linamar Corp. says the company’s recent stock rout — down 26 per cent so far this month — is “frustrating” and reflects a couple of key misunderstandings about the health of the auto industry. Linda Hasenfratz said she believes there are two reasons behind …

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As oil and loonie spiral, is it lights out for Trudeau’s ‘sunny’ economic ways?

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Canada’s rookie finance minister, Bill Morneau, woke up Monday to a power failure in his Halifax hotel, where he was kicking off cross-country consultations for his first budget. A generator allowed for a single industrial light in his bathroom, but it died too. With Morneau in the shower. From there …

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Sherritt taking $1.6 billion writedown on Ambatovy mine amid brutal nickel market

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The nickel market is so grim right now that three-quarters of global production is likely underwater on a cash margin basis, according to the chief executive of Sherritt International Corp. “Nobody’s making a lot of money at this price level, by the time you factor in your sustaining capital and …

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