Two Canadian law firms have proposed a class action suit which accuses Visa, MasterCard and the major banks of fixing charges on credit cards. News release here. The specifics of the filing mirror closely the complaints of merchants and their associations, such as the Canadian Federation of Independent Business. The principal accusation is that the parties require merchants as an absolute condition to accept all levels of cards, including so-called premium cards with high fees. And, that the card companies forbid merchants from charging a higher price for goods sold on premium cards as a way of recovering the additional fee expense. The news releaase linked above also solicits those who might wish to be part of the class action.
Month: March 2011
Porsche rims stolen on Blythdale
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•From the TPS crime reports: A resident of Blythdale Road reports that between 2100 hours, March 13, 2011 and 0700 hours, March 14, 2011 unknown suspect(s) entered the premises by unknown means. Removed was four Porsche rims.
Williamson replaces Baxendale at CIBC
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• The Canadian Imperial Bank of Commerce has shuffled top executives. The most important moves are the departure, unexplained, of Sonia Baxendale (right) who was the bank’s retail markets senior executive vice-president. The announcement said Baxendale had established a strong retail markets franchise with market-leading positions and a track record of innovation. She earned $4.44 million in 2010. Her replacement is David Williamson (left) who will now be in charge of personal and business banking. He had been the bank’s CFO since 2008. Kevin Glass replaces Williamson as CIBC’s chief financial officer and will report to the CEO under his new role on the senior executive team. He has worked at the bank since 2009. The changes are discussed in this Reuters story as they impact succession to CEO.
Nice weather, warmer week ahead
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•The general forecast looks like we’ll be returning to some more seasonal weather this week. It will be only minus 1 today but temperatures will move up rapidly during the rest of the week under mostly sunny skies
BMO launches coin exchange program
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•Bank of Montreal has said that it will build coin repatriation machine4s into its new and refurbished branches over a period of time. It will be costly but the strategy is to win loyalty and pry depositors away from other banks. The story is in the Globe and Mail this morning. Interestingly, the machines don’t charge fees or take a percentage of the haul the way most generic coin counters in supermarkets and malls do. However, users must take their receipt to the teller in order to get paid. At that point, BMO has the chance to pitch them on opening an account, if they aren’t already a customer.
Denied parking on Petman Ave
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• The residents of streets like Petman Ave (running between Eglinton and Soudan east of Forman) know the difficulty of residential parking. That’s why it seems a shame that what should have been an easy request to place a parking pad in front of a modest home should be turned down. The story is told by Sue Ann Levy in the Sun. She champions the right in local politics and blames anti-car members of the Toronto and East York Community Council for the tie vote (5-5) that killed the request from resident Wendy Hyman for relief from crowded parking and endless tickets. She told councillors that safety was a “significant concern” for her especially at night when she has to walk from whatever spot she finds in her neighbourhood. A poll of the neighbours in the area found some 80% were in favour of allowing Hymus to create the parking pad. She also promised to ensure the city tree on her front yard — a maple — would not be damaged in any way. Remarkably, the following month a neighbour who lives three doors down won his bid to install a front-yard parking pad. Levy said: “The bid squeezed through 6-5. Why? Because one of the anti-parking pad leftists had slipped out of the room to the washroom during the vote.”
E-reader sales reach 14 million in 2010
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• The rapid pace of the changeover to e-books has prompted the president of Barnes and Noble to say that the landscape of the industry will be totally changed in 24 months. In fact, readers seem to be converting so quickly to Kindles and Kobos one wonders if will take that long. Marc Parrish quoted statistics which suggest that 30% of book readers are now using an electronic reader of some type. This coincides with the increase in e-reader sales. In 2009, some 900,000 were sold. In 2010, 14 million were sold with the 2011 estimate set at 18 million. All of this makes the changes seen on South Bayview at Sleuth of Baker Street more understandable than ever.
Millions observe Earth Hour around world
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•Millions around the world observed Earth Hour by turning off their lights between 8.30 and 9.30 pm local time tonight. It has become an annual event which was originated in Australia only four years ago. Here on South Bayview, members met to observe the hour at St. Cuthert’s Anglican Church. The above video shows the great metropolis of Hong Kong going dark for the occasion.
Walk and text chic on South Bayview
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• Let’s stop kidding ourselves. Kids don’t walk and text because they need to communicate as they walk. They do it because it looks cool. It’s visible daily on South Bayview as teens and twenties too act out the role of Texter in a Hurry. Well, it’s up to them until they get hurt. The invention shown on the right is designed (but not very well designed) to prevent text walkers from bumping into others, bouncing off cars or slipping under buses. Just a few of many possibilities. Google pictures.
Pussy willows signal Spring
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• An early sign of Spring is on sale outside Passion Fruit on South Bayview. The so-called pussy willow with its fur covered buds (catkins) has long been subject to a fanciful notion that the buds look like tiny cats (pussycats). As reported in Wikipedia, the Chinese appreciation of numerous blossoms on a branch, make the many buds of the pussy willow a favourite flower for Chinese New Year.
Foundation in at 18 Lumley Avenue
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•At 18 Lumley Ave. in Bennington Heights a spacious new structure is going up in the March sunshine. The poured concrete foundation was almost completely in place when these shots were taken Friday. Left, the wild device used to deliver concrete from the street to the farthest corner of the lot. Right, workmen begin removing hardware that holds the forms in place. Lumley Ave incidentally is notable as the street on which Margaret Atwood grew up.
Tea Emporium birthday party
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•The Tea Emporium will celebrate ten years on South Bayview on Saturday, April 2, 2011 with an open house. There will be balloons for the kids and iced tea for everyone.