In this edition:
Financier and philanthropist Ned Goodman passes away aged 85
Financier Ned Goodman, a major player on Bay Street who for five decades founded money management firms and backed successful mining companies, passed away on Sunday at age 85.
Mr. Goodman served as chancellor at Brock University from 2007 to 2015, and helped raise $22-million for renovations at the business school that now bears his name. In a news release, Brock interim president Lynn Wells said: “His generosity and drive to succeed will continue to be an inspiration to generations of Brock University students.”
Mr. Goodman, a native of Montreal, provided the capital and leadership that transformed small resource projects into major companies such as Kinross Gold Corp. and IAMGOLD Corp. He was also a driving force behind the creation of mines now owned by Barrick Gold Corp. and launched two major money managers: Beutel, Goodman & Company Ltd. and Dynamic Funds.
In later life, he turned his attention to philanthropy. As a result of his donations, Brock University’s business school, Concordia University’s investment management program and Laurentian University’s mining school are all now named in his honour.
Mr. Goodman leaves his wife of nearly 62 years, Anita Goodman, four sons and their wives, 16 grandchildren and two great-grandchildren.
Competition Bureau cautions snow removal companies during contract renewal season
The Competition Bureau of Canada has warned snow removal companies that some competing firms in their region may approach them soon or over the course of the winter, offering to “share the workload” or “split streets.”
“Know that you are walking on thin ice when you discuss these subjects with competitors,” the Bureau cautions.
Agreements with competitors on these topics are illegal and could have significant consequences for you and your business. Report any suspicious activity to the Competition Bureau immediately through the Whistleblowing initiative and the online form.
Niagara College takes gold at U.S. Open College Beer Championship
Now in its sixth year, the U.S. Open College Beer Championship is open to colleges and universities in the U.S. and Canada that offer courses in brewing. A total of 11 schools participated in the 2022 edition, which premiered a new hybrid format that combined last year’s modified format with aspects of the competition from 2019 and earlier.
Each college was allowed to enter up to four beers of their own choosing, plus a beer from a specific category to be judged head-to-head according to the U.S. Open Style Standards. The category this year was German Kolsch.
Second-year Brewmaster and Brewery Operations Management student Ian Morrison’s saison beer, “Saison du Temps Presse,” was one of four Niagara College entries to earn a nod at the annual championship. Aaron Grandguillot’s American porter “Lights Out” was also awarded a gold medal, while Matt Hand’s dark Belgian strong “Strong Hand” earned a bronze. “Changing Lanes,” a white IPA beer brewed by the class, also brought home a bronze.
GNCC Espresso Live: Shaping Niagara’s Economy
Missed today’s GNCC Espresso Live webinar on Niagara’s ten-year economic development strategy?
Thorold breaks ground on new fire station
The City of Thorold hosted a groundbreaking ceremony today for their new District 1 fire station.
Located on McCleary Drive, the 16,000 square foot facility will be more central to Thorold, catering to the rapid growth of the city and providing direct access to the highway.
As the City’s new Emergency Operations Centre (EOC), the fire station will feature a large meeting space and enhanced technology suited to operating an EOC. It will also include three truck bays, proper office space and living quarters for career staff, and individual lockers and a group physical fitness area for all firefighters.
Canada Summer Games continue
Click here for a list of events, times, and locations.
Focus on Business Law
Fewer businesses have a privacy policy in 2022 than in 2019
The Privacy Commissioner of Canada
According to a 2022 telephone poll conducted by the Privacy Commissioner, approximately six in 10 (59%) businesses have a privacy policy in place. This represents a small decline since 2019 when 65% of companies reported having such a policy in place. The likelihood of having a privacy policy is higher among larger businesses.
Seventy percent (up from 51% in 2019) of respondents working for companies that have a privacy policy said their company makes its privacy information easily accessible to customers. Solopreneurs (78%), along with companies with five to nine employees (82%), are more likely than larger companies to make their privacy information easily accessible to customers.
Eighty-six percent of business representatives said their company is at least moderately aware of their privacy-related responsibilities, including 40% that are extremely aware of these responsibilities. Seventy-four percent of business representatives said their company has taken steps to ensure it complies with Canada’s privacy laws.
Temporary layoffs: What employers need to know
Norton Rose Fulbright
Temporary layoffs can be a necessary element of operating a business in Canada. Employers faced with a shortage in available work may need to reduce staffing in the short term to control costs, with the goal of preserving jobs in the long term.
Temporary layoffs are common in some industries and rare in others. They may be driven by cyclical changes in business demand or extraordinary events like the COVID-19 pandemic. Whatever the reason, employers should be aware of applicable laws before taking this step. This legal update reviews the laws applicable to temporary layoffs, with particular attention to rules in Alberta, British Columbia, Ontario and the federal sector.
Through the Daily Updates, the GNCC aims to deliver important business news in a timely manner. We disseminate all news and information we feel will be important to businesses. Inclusion in the Daily Update is not an endorsement by the GNCC.
