Apple, AT&T hit with glitches iPhone
http://news.ca.msn.com/money/article.aspx?cp-documentid=24590392
Summary:
Apple and AT&T are facing two major problems taking orders for the newest iPhone model. These problems are buyers reported problems registering their orders and an apparent glitch in AT&T's website was steering some customers into strangers' accounts. Also there is trouble meeting demand for iphone. The reason for causing the problem is the better-than-expected demand had stressed the company's systems, which slowed both its website and the reservation process at stores. AT&T replied said that it received reports of customers seeing the wrong account information but wasn't able to replicate the problem and was investigating. At&T also said that the personal information users were seeing in one another's accounts didn't include Social Security numbers, credit card information and detailed call logs.
Connection:
The connection between this article and Chapter 10 Industrial Organization in Canada is the partnership between the two companies, in this case, Apple and AT&T. It is a partnership because two company are brought together to attract more financial resources and are reliable for its debts. Both company are big company, which means both of them have high credit and high reputation. Two company cooporate together to form a contract which benefit both of the company. Apple provides the newest phone model to AT&T, then AT&T sell the phone with a phone contract for people to use their phone plan.
Reflection:
Basicly, i was talking about partnership between the two big company, AT&T and Apple. But the article is actually talking about the websit problems when ordering the new Iphone model on AT&T websit. People concern about when they are logging into their accounts they actually loged into another stranger's account, customers were affraid of losing their personal informations. The company should protect their customers informations carefully.Anyways, Im really looking forward to the new iphone and the new contract.
Wednesday, June 16, 2010
Chapter 8 Blog
BC has lowest minimum wage, highest poverty rate
http://columbiavalleynews.com/2010/04/10/bc-has-lowest-minimum-wage-highest-poverty-rate/
Summary:
The BC Federation of Labor says that the minimum wage in BC is a national embarrassment. As Ontario increased its minimum wage on March 31, 2010 to $10. 25 an hour and on April 1, 2010, Nova Scotia’s minimum wage will rise to $9.20 and New Brunswick’s to $8.50 with another increase in September, which will bring it’s minimum wage to $9.00. The minimum wage for BC is still remain at $8.00. But B.C. government said that they can not afford to raise the minimum wage. The BC Federation of Labor suggested that B.C. government should raise the minimum wage to $10.00, it is a way to prevent proverty.
Connections:
The connecting between the article and Chapter 10 Stabilization Policy is linked by wage and price controls. In the article, it stated that each provinces is raising their minimum wage to prevent proverty rate, this is a kind of control to make citizen's life better in the economic depression. But B.C government's decision is also a kind of controling wage and price action. When the wage raise, the price of goods and services will also raise due to higher expenses by raising the minimum wage. By not raising the minimum wage, the price of goods and services will not be increase,which in this case is an anti-inflation act.
Reflections:
BC used to have the highest minimum wage at 2002, and the minimum wage keeped at $8.00 per hour for many years, now BC is having the lowest minimum wage within Canada. Increasing minimum wage has been proven to do nothing in regards to improving poverty levels. Employers that do pay minimum wage are often put into a situation where they have to let go of some workers in order to afford the higher wage of its remaining employees. Controling the minimum wages also is controling the prices of the goods in the market. I think they shouldn't raise the minimum wage during economic depression, this will worsten the situation.
http://columbiavalleynews.com/2010/04/10/bc-has-lowest-minimum-wage-highest-poverty-rate/
Summary:
The BC Federation of Labor says that the minimum wage in BC is a national embarrassment. As Ontario increased its minimum wage on March 31, 2010 to $10. 25 an hour and on April 1, 2010, Nova Scotia’s minimum wage will rise to $9.20 and New Brunswick’s to $8.50 with another increase in September, which will bring it’s minimum wage to $9.00. The minimum wage for BC is still remain at $8.00. But B.C. government said that they can not afford to raise the minimum wage. The BC Federation of Labor suggested that B.C. government should raise the minimum wage to $10.00, it is a way to prevent proverty.
Connections:
The connecting between the article and Chapter 10 Stabilization Policy is linked by wage and price controls. In the article, it stated that each provinces is raising their minimum wage to prevent proverty rate, this is a kind of control to make citizen's life better in the economic depression. But B.C government's decision is also a kind of controling wage and price action. When the wage raise, the price of goods and services will also raise due to higher expenses by raising the minimum wage. By not raising the minimum wage, the price of goods and services will not be increase,which in this case is an anti-inflation act.
Reflections:
BC used to have the highest minimum wage at 2002, and the minimum wage keeped at $8.00 per hour for many years, now BC is having the lowest minimum wage within Canada. Increasing minimum wage has been proven to do nothing in regards to improving poverty levels. Employers that do pay minimum wage are often put into a situation where they have to let go of some workers in order to afford the higher wage of its remaining employees. Controling the minimum wages also is controling the prices of the goods in the market. I think they shouldn't raise the minimum wage during economic depression, this will worsten the situation.
Wednesday, June 9, 2010
Chapter 5 Blog
AbitibiBowater to suspends at several plants, affects 1,500 jobs in Canada
http://ca.news.finance.yahoo.com/s/17092009/2/biz-finance-abitibibowater-suspends-several-plants-affects-1-500-jobs.html
Summary
A Montreal-based company, AbitibiBowater, has to stop its production at several facilities due to its financial problems. Aside from stopping production, as much as 1500 jobs will be affected due to the outcome of this decision. The reason for this decision is because of the lessening demand for newsprint. A spokesman for the company said that the demand for newsprint has dropped as much as 30% within a year. Along with many forestry industries in Canada, AbitibiBowater has been greatly affected during the recession. An attempt to restructure the company would be difficult since AbitibiBowater is operating with little profit while carrying a huge debt load.
Connection
This article linked with chatper 5 Ecnomic Indicators because the decision made by the company directly effect the unemployment rate in the country. Unempolyment rate is the employment-to-population ratio. By stopping the company's production 1,500 employees will be lay off, this will incease Canada's unemployment rate. AbitibiBowater Inc. laid off workers due to the financial problems, this is Demand-Deficient Unemplyment, which happened when the company's sales is decreasing so they don't need to use as many workers, so they laid off workers to cut the expenses. The unemployment of this company is not only effecting the unemployment rate, it will also affect the participation rate.
Reflection:
I personally don't support lay off workers, but I understand that cut the expenses especially workers is the first thing every company would do when they are facing financial problems. But, if the company laying off workers because the decrease of their sales, laying of workers will help a little by decreasing the expenses but it won't help the decerase in sales. Workers got lay off, they have no income, they will starting to buy less, this will maybe cause raising the decrease amount of the sales, which the sales will be decrease more than before they lay off the workers. This leads us to these questions, is it a good thing to lay off workers? Does it really help company's financial problems in longer term?
http://ca.news.finance.yahoo.com/s/17092009/2/biz-finance-abitibibowater-suspends-several-plants-affects-1-500-jobs.html
Summary
A Montreal-based company, AbitibiBowater, has to stop its production at several facilities due to its financial problems. Aside from stopping production, as much as 1500 jobs will be affected due to the outcome of this decision. The reason for this decision is because of the lessening demand for newsprint. A spokesman for the company said that the demand for newsprint has dropped as much as 30% within a year. Along with many forestry industries in Canada, AbitibiBowater has been greatly affected during the recession. An attempt to restructure the company would be difficult since AbitibiBowater is operating with little profit while carrying a huge debt load.
Connection
This article linked with chatper 5 Ecnomic Indicators because the decision made by the company directly effect the unemployment rate in the country. Unempolyment rate is the employment-to-population ratio. By stopping the company's production 1,500 employees will be lay off, this will incease Canada's unemployment rate. AbitibiBowater Inc. laid off workers due to the financial problems, this is Demand-Deficient Unemplyment, which happened when the company's sales is decreasing so they don't need to use as many workers, so they laid off workers to cut the expenses. The unemployment of this company is not only effecting the unemployment rate, it will also affect the participation rate.
Reflection:
I personally don't support lay off workers, but I understand that cut the expenses especially workers is the first thing every company would do when they are facing financial problems. But, if the company laying off workers because the decrease of their sales, laying of workers will help a little by decreasing the expenses but it won't help the decerase in sales. Workers got lay off, they have no income, they will starting to buy less, this will maybe cause raising the decrease amount of the sales, which the sales will be decrease more than before they lay off the workers. This leads us to these questions, is it a good thing to lay off workers? Does it really help company's financial problems in longer term?
Monday, March 1, 2010
Chpt 7 HSBC, Standard CEOs to donate bonuses -report
HSBC, Standard CEOs to donate bonuses -report
http://ca.news.yahoo.com/s/reuters/100228/business/cbusiness_us_hsbc_bonus
Summary：
The chief executives of HSBC holdings which is the biggest bank are set to give out their bonuses to the charities.Some British newspaper reported that Michael Geoghegan and Peter Sands were willing to donate his bonus to several charities but on the HSBC side they refused to answer. The article also talked about other banks gived up their rights to a 2009 annual bonus. At the same time, People are angry that government are using taxes money to help the almost bankrupt banks government money, and the bank is still lossing money after that. On another news paper stated that HSBC claimed they didn't receive any taxes money from the government and they will decide how to pay their own executives. Geoghegan will be awareded a bonus of four times of $1.68 million. HSBC is planning to increase the base pay for their top executives, and they also planning to not rise Geoghegan's award bonus more than a third.
Connections:
This article links with chapter 7 Money and the Canadian Banking System is because they both related to bank and money. HSBC is a charter bank which operationg under the authority of Parliament that accepts deposits and lends money to business, government, and household. HSBC also allowes different types of deposit such as cheqing account, saving account, term deposits, Guaranteed investment certificate and mutual funds. HSBC also follows the Bank Act that the federal government legislation regulats the banking industry in Canada.
Reflections:
There are a lot of talks between the banks in the canada and the government. This chapter is my favourite chapter because i always interested about banking system, not only banks in the canada. If the government is really using taxpayer's money to help banks from bankrupt but the bank is still giving out so much money to their executive, that is totally not fair. It means that they are putting our money into someone else's own pocket for their personal use. Why would anyone wants to do that?
http://ca.news.yahoo.com/s/reuters/100228/business/cbusiness_us_hsbc_bonus
Summary：
The chief executives of HSBC holdings which is the biggest bank are set to give out their bonuses to the charities.Some British newspaper reported that Michael Geoghegan and Peter Sands were willing to donate his bonus to several charities but on the HSBC side they refused to answer. The article also talked about other banks gived up their rights to a 2009 annual bonus. At the same time, People are angry that government are using taxes money to help the almost bankrupt banks government money, and the bank is still lossing money after that. On another news paper stated that HSBC claimed they didn't receive any taxes money from the government and they will decide how to pay their own executives. Geoghegan will be awareded a bonus of four times of $1.68 million. HSBC is planning to increase the base pay for their top executives, and they also planning to not rise Geoghegan's award bonus more than a third.
Connections:
This article links with chapter 7 Money and the Canadian Banking System is because they both related to bank and money. HSBC is a charter bank which operationg under the authority of Parliament that accepts deposits and lends money to business, government, and household. HSBC also allowes different types of deposit such as cheqing account, saving account, term deposits, Guaranteed investment certificate and mutual funds. HSBC also follows the Bank Act that the federal government legislation regulats the banking industry in Canada.
Reflections:
There are a lot of talks between the banks in the canada and the government. This chapter is my favourite chapter because i always interested about banking system, not only banks in the canada. If the government is really using taxpayer's money to help banks from bankrupt but the bank is still giving out so much money to their executive, that is totally not fair. It means that they are putting our money into someone else's own pocket for their personal use. Why would anyone wants to do that?
Thursday, January 21, 2010
Burnaby Homeowners face tax increase
Burnaby Homeowners face tax increase
http://www2.canada.com/burnabynow/news/story.html?id=c0db8a72-7283-4721-b996-58c8b745a322
Summary:
The Canadian government decided to raise the tax rate of burnaby homeowners by 3.95 percent. The original intension was for a higher tax rate, but further discussion has brought down the tax rate from 4.37 to 3.95. The decision is base on fundings needed to operate service sectors. In a statement made by the mayor of burnaby,he stated that,"Considering what we offer to citizens (in services), ... I think it's the lowest we can do without looking at what services to cut or what staff to cut."
This means that in order to fund the different services that burnaby residents enjoy you have no choice but to pay higher taxes, otherwise they may have to face the consequences of losing some of their public services.
Connection:
This article links with Chapter 4 Government in Canada, because it talks about the burnaby homeowners facing an increase in porperty tax. Property tax is an direct tax that imposed on the person who is intended to pay the tax.The purpose of collecting porperty tax is to use the tax to provide public services for residents. In the summary, the quote that the mayor stated was linked to the equalization payment for federal/Provincial Financial Arragements. Equalization payment means that the payments to the provinces to ensure the provinces can provide a equal amount or reasonable level of public services without raising too many taxes. In this case, the raise of the porperty tax in burnaby was to balance the public services, which in the case that the payment was not enough to cover the full expense of the public services.
Reflection:
It is really unfair that the canadian governemtn raised the property tax in burnaby with out rasing the services. The mayor made the point saying that even though they are raising taxes, the porperty tax in burnaby is still lower than metrotown and vancouver area.But I think this point is unjustify because burnaby is not a commercial area. The services in metrotown and vancouver area are in a larger scale because they are providing more services and serving more people on the daily bases. For example, if you compare the number of buses that travel to Metrotown and Vancouver with the number of buses that travel to Burnaby, it is obvious why Vancouver and Metrotown area have a higher tax rate. Therefore, I believe it is unreasonable to compare the tax rate to these areas.
http://www2.canada.com/burnabynow/news/story.html?id=c0db8a72-7283-4721-b996-58c8b745a322
Summary:
The Canadian government decided to raise the tax rate of burnaby homeowners by 3.95 percent. The original intension was for a higher tax rate, but further discussion has brought down the tax rate from 4.37 to 3.95. The decision is base on fundings needed to operate service sectors. In a statement made by the mayor of burnaby,he stated that,"Considering what we offer to citizens (in services), ... I think it's the lowest we can do without looking at what services to cut or what staff to cut."
This means that in order to fund the different services that burnaby residents enjoy you have no choice but to pay higher taxes, otherwise they may have to face the consequences of losing some of their public services.
Connection:
This article links with Chapter 4 Government in Canada, because it talks about the burnaby homeowners facing an increase in porperty tax. Property tax is an direct tax that imposed on the person who is intended to pay the tax.The purpose of collecting porperty tax is to use the tax to provide public services for residents. In the summary, the quote that the mayor stated was linked to the equalization payment for federal/Provincial Financial Arragements. Equalization payment means that the payments to the provinces to ensure the provinces can provide a equal amount or reasonable level of public services without raising too many taxes. In this case, the raise of the porperty tax in burnaby was to balance the public services, which in the case that the payment was not enough to cover the full expense of the public services.
Reflection:
It is really unfair that the canadian governemtn raised the property tax in burnaby with out rasing the services. The mayor made the point saying that even though they are raising taxes, the porperty tax in burnaby is still lower than metrotown and vancouver area.But I think this point is unjustify because burnaby is not a commercial area. The services in metrotown and vancouver area are in a larger scale because they are providing more services and serving more people on the daily bases. For example, if you compare the number of buses that travel to Metrotown and Vancouver with the number of buses that travel to Burnaby, it is obvious why Vancouver and Metrotown area have a higher tax rate. Therefore, I believe it is unreasonable to compare the tax rate to these areas.
Friday, October 9, 2009
Oil closes in on $75 as the U.S. dollar weakens further; Retail prices up
Oil closes in on $75 as the U.S dollar weakens further; Retail prices up
http://ca.news.yahoo.com/s/capress/091013/business/oil_prices
Summary:
The slightly risen gas prices in U.S last week was because the weakening of U.S. dollar. The gasoline price had been rised by two cents to US$2.489 per gallon. Gasoline prices in Midwest rose especially quick, but the price of gasoline was still so low. In Canada the average gasoline price is 95.9 cents per litre. Because of the increasing gasoline price, consumers will begin to weighing what they need more for their daily life, for example they will choose between the colder weather or the higher gasoline price in winter. Also, the Refiner are going to take facilities off line, which means they will produce less fuel since less people will be using it.
Connection:
This article linked with Chapter 2 the Operation of a Market. They link because this article is about the commodities market. while the exchange rate for U.S dollar is droping, the price of gasoline will start to increase. This article also link with the demand & supply factor and inelastic & elasticity. When the price of gasoline increases up to a certain price, the demand of gasoline will decrease, then gasoline will become an elastic product. At the same time, the supply of gasoline will decrease in slower motion and will eventually reach equilibrium again.
The connection between this article and Chapter 2 is because gasoline is a necessity which help us operate many of the machines that use in our daily lives so there will alwasy be a constant demand for them. Also, the article told us that the gasoline price will become higher in the world market. It mentioned in the article that the refiner will start to make less fuel since the price going up, which means the total demand of gasoline will start to decrease, which related to one section of this chapter " change in demand".
Reflections:
After i read this article, i think that since the oil price is increasing, more people will take buses instead of driving cars, especially we are still facing the economic depression problem, less cars means there will be less pollutions then before, which will increase the living condition of our enviroment. In the other hand, the demand of gasoline for home use car will decrease but the demand of gasoline for public transit will increase, but the total demand of gasoline will decrease. At that time, the gasoline price will decrease to attract people to use more.
http://ca.news.yahoo.com/s/capress/091013/business/oil_prices
Summary:
The slightly risen gas prices in U.S last week was because the weakening of U.S. dollar. The gasoline price had been rised by two cents to US$2.489 per gallon. Gasoline prices in Midwest rose especially quick, but the price of gasoline was still so low. In Canada the average gasoline price is 95.9 cents per litre. Because of the increasing gasoline price, consumers will begin to weighing what they need more for their daily life, for example they will choose between the colder weather or the higher gasoline price in winter. Also, the Refiner are going to take facilities off line, which means they will produce less fuel since less people will be using it.
Connection:
This article linked with Chapter 2 the Operation of a Market. They link because this article is about the commodities market. while the exchange rate for U.S dollar is droping, the price of gasoline will start to increase. This article also link with the demand & supply factor and inelastic & elasticity. When the price of gasoline increases up to a certain price, the demand of gasoline will decrease, then gasoline will become an elastic product. At the same time, the supply of gasoline will decrease in slower motion and will eventually reach equilibrium again.
The connection between this article and Chapter 2 is because gasoline is a necessity which help us operate many of the machines that use in our daily lives so there will alwasy be a constant demand for them. Also, the article told us that the gasoline price will become higher in the world market. It mentioned in the article that the refiner will start to make less fuel since the price going up, which means the total demand of gasoline will start to decrease, which related to one section of this chapter " change in demand".
Reflections:
After i read this article, i think that since the oil price is increasing, more people will take buses instead of driving cars, especially we are still facing the economic depression problem, less cars means there will be less pollutions then before, which will increase the living condition of our enviroment. In the other hand, the demand of gasoline for home use car will decrease but the demand of gasoline for public transit will increase, but the total demand of gasoline will decrease. At that time, the gasoline price will decrease to attract people to use more.
Sunday, September 20, 2009
AbitibiBowater to suspends at several plants, affects 1,500 jobs in Canada
AbitibiBowater to suspends at several plants, affects 1,500 jobs in Canada (redo)
http://ca.news.finance.yahoo.com/s/17092009/2/biz-finance-abitibibowater-suspends-several-plants-affects-1-500-jobs.html/
Summary
A Montreal-based company, AbitibiBowater, has to stop its production at several facilities due to its financial problems. Aside from stopping production, as much as 1500 jobs will be affected due to the outcome of this decision. The reason for this decision is because of the lessening demand for newsprint. A spokesman for the company said that the demand for newsprint has dropped as much as 30% within a year. Along with many forestry industries in Canada, AbitibiBowater has been greatly affected during the recession. An attempt to restructure the company would be difficult since AbitibiBowater is operating with little profit while carrying a huge debt load.
Connection
This article links with chapter 1 "Introductory Concepts" in the economic text book because the decision made by the company directly affect their oppotunity cost. Opptunity cost is the next best choice that someone has to give up when pursuing their desired decision,for exaple,wages expense. In this case, when Abitibibowater is facing financial crisis, they had to lay off their workers in order to reduce the expenses icurred from production. By choosing this decision,AbitibiBowater has forsaken the alternative of increasing production levels in hopes of stimulating sales which might have been the next best solution to help them recover from their financia crisis.
Reflection
When economy went into depression, a lot of company will cut jobs to keep their company running. When workers get lay off because of the depressions, they will start taking out their personal savings to help them buy goods and services, but they will reconsider before purchasing goods. On the other hand, the sales rate for psp, ps2, wii,and any other luxury items, which are considered want for their life, will decrease. By the time their sales rate decreased a lot, they will start to lower the price to promote their products. In conclusion, the price of products will decrease, and the interest rate of savings will increase because the bank need people to save up moneys in order to invest other business.
http://ca.news.finance.yahoo.com/s/17092009/2/biz-finance-abitibibowater-suspends-several-plants-affects-1-500-jobs.html/
Summary
A Montreal-based company, AbitibiBowater, has to stop its production at several facilities due to its financial problems. Aside from stopping production, as much as 1500 jobs will be affected due to the outcome of this decision. The reason for this decision is because of the lessening demand for newsprint. A spokesman for the company said that the demand for newsprint has dropped as much as 30% within a year. Along with many forestry industries in Canada, AbitibiBowater has been greatly affected during the recession. An attempt to restructure the company would be difficult since AbitibiBowater is operating with little profit while carrying a huge debt load.
Connection
This article links with chapter 1 "Introductory Concepts" in the economic text book because the decision made by the company directly affect their oppotunity cost. Opptunity cost is the next best choice that someone has to give up when pursuing their desired decision,for exaple,wages expense. In this case, when Abitibibowater is facing financial crisis, they had to lay off their workers in order to reduce the expenses icurred from production. By choosing this decision,AbitibiBowater has forsaken the alternative of increasing production levels in hopes of stimulating sales which might have been the next best solution to help them recover from their financia crisis.
Reflection
When economy went into depression, a lot of company will cut jobs to keep their company running. When workers get lay off because of the depressions, they will start taking out their personal savings to help them buy goods and services, but they will reconsider before purchasing goods. On the other hand, the sales rate for psp, ps2, wii,and any other luxury items, which are considered want for their life, will decrease. By the time their sales rate decreased a lot, they will start to lower the price to promote their products. In conclusion, the price of products will decrease, and the interest rate of savings will increase because the bank need people to save up moneys in order to invest other business.
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