Air Canada shares fly high as cost-cutting pays off
He leaves Boston Ballet, in its 50th-anniversary season, as the fourth largest ballet company in the United States. The National Ballet of Canada has a similar profile in terms of operating budget and number of performances. Nissinen said that since Hughsonas arrival, athe company has had an amazing run, and heas been part of that. I had a wonderful executive partnership with him. He was very supportive of the companyas vision, and I can be very thankful for that. Itas not always a given in these situations. Boston Ballet was strong when he came, and it is stronger now.a Nissinen said heall be looking aeverywhere but Marsa for Hughsonas successor. He expects a new executive director to be in place between the end of March and the beginning of July. Hughson said he was avery optimistica about the future of Boston Ballet. aI think itas one of the best companies in the world, I think itas moved into a new league during Mikkoas tenure, and I think thatas just going to continue,a he said. He noted that his present company and his future one ahave always had a collaborative relationship.a So could the National Ballet of Canada tour to Boston?
Joining BlackBerry after graduation was always a dream job, said Baker, 21, munching on a bag of carrots at the engineering school about 70 miles (112 kilometers) southwest of Toronto. Not so much anymore, he said, adding he plans to head to California after graduation. Canadas reputation as a technology innovator was diminished after the smartphone maker announced last month a surprise $934 million pretax writedown for unsold phones, and said it would fire 4,500 workers almost 40 percent of its employees. The worlds 11th-largest economy is already short on research drivers like Nortel Networks Corp., which filed for bankruptcy and was broken up and sold in parts to foreign tech companies. BlackBerrys current woes may further crimp spending budgets that havent returned to levels of a decade ago. BlackBerry accounts for a big chunk of what remains of total research and development spending in that information technology industry, said Michael Burt, director of industrial economic trends at the Conference Board of Canada in Ottawa. Losing the company would certainly curtail productivity growth in that particular industry and its possible it may have a larger net effect on total productivity in Canada. Big Spender The company formerly known as Research In Motion Ltd. is Canadas biggest spender on research and development over the past 12 months at C$1.49 billion ($1.44 billion), according to data compiled by Bloomberg, more than four times the amount of the second-place company, Montreal-based Bombardier Inc. Without BlackBerry, Canada wouldnt have a company among the worlds top 300 R&D spenders on research and development. The firm said Sept. 27 it cut such spending in the first six months of its fiscal year by 2 percent from a year earlier, to $718 million.
What is Stephen Harper’s problem with Elections Canada?
aThe companyAs cost performance is outperforming expectations.a He also noted that Air Canada was able to refinance high-interest debt during the quarter, which should afford it additional balance sheet flexibility to help finance new aircraft in the coming years, with a new narrow-body order expected soon and the delivery of its new 787s coming late next year. The changes underway will have a broader impact than just the third quarter, said Walter Spracklin, RBC Capital Markets analyst, who raised his price target on the stock to $5.50 a share from $4 previously. Mr. Spracklin, who has an outperform rating on the stock, said his primary concern for Air Canada had been that the too much capacity would be added to the market with the launch of its low-cost carrier, Rouge, and WestJetAs own Encore. This, in turn, he feared, would drag on prices. But Mr. Spracklinas tracking of 12,000 random fares suggests that prices are actually up 1.5% year-over-year, which, combined with the strong load factor, has him switching his focus to the significant growth opportunities at the airline and the benefits from its cost-cutting measures. aWe believe Air Canada is in the early stages of a transformational change which will lead to vastly improved operating metrics A and ultimately a step-function increase in profitability,a Mr. Spracklin said. aDespite the strong share price performance, we believe the early-stage positioning means the shares hold significant value at current levels, as the bias remains significantly to the upside on our estimates and target,a he added. Fadi Chamoun, BMO Capital Markets analyst, agrees. He raised his price target on the stock to $5 a share from $4 previously and maintained his outperform rating. aWhile the stock has risen 35% in the past month, the company is only starting to realize the benefits of its fairly sizeable CASM reduction opportunity over the next several years. We believe this would strengthen the companyAs competitive position and open up new revenue growth opportunities, particularly in international market,a he said.
Boston Ballet’s Barry Hughson departing for a post in Canada
Elections Canada judged that the candidate campaigns didnat really buy those ads, and refused to send them the money. The Conservatives sued. The Federal Court said the reimbursements could not be disallowed a siding with the Conservatives a but the Federal Court of Appeal overturned that, arguing that Mayrandas analysis was reasonable. Some Conservative candidates refused to take part in the in and out scheme. It was clearly a way to game the system: Imagine if I opened my wallet and handed you a five-dollar bill, you handed it back to me, I went into a store and bought chips and a pop and handed you back the receipt so you could claim the expense. Which of us bought the chips and pop? The question was always whether the system itself was set up in a way to allow such gaming a whether this was a legal or illegal loophole, and what Elections Canadaas response ought to be. In 2011, four Conservative party officials a including two senators a were charged for violations of the Elections Act related to the in and out scheme. The charges against individuals were dropped when the party and its fundraising wing pleaded guilty to overspending the limit and improperly reporting expenses, and paid a fine. Even after the guilty plea, the political strategy did not change. The Tories kept spinning it as an administrative mistake. Itas worth remembering that in and out was not a rogue practice; it was orchestrated from the very centre of the national campaign. Like other election-related disputes and scandals, the in and out affair affected the relationship between the Conservative government and Parliament. In 2008, opposition MPs ousted Conservative MP Gary Goodyear from the procedures committee over the issue. Later that year, Conservative witnesses did not show up for their scheduled appearances before the ethics committee when it was looking into the scheme.