Lowes pays double the stock price to buy Rona outright
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U.S- based Lowe’s has scooped up the Quebec home repair and hardware giant Rona by paying double the stock price — $24 — that was being paid at the close of business last night. The whole deal is worth $3.2 billion Cdn. The deal has been cosy with both boards taking votes to approve the deal and Lowes agreeing to place its headquarters in Boucherville, Quebec. That location is a kind of sop to Quebec nationalist feeling about the home-grown Rona. A previous attempt by Lowe’s to purchase Rona in 2012 collapsed after resistance from Rona’s management and outright hostility from the Quebec provincial government and pension fund. Time will tell what opposition still exists. Lowe’s has also committed “to continue to employ the vast majority of its current employees and maintain key executives from Rona’s strong leadership team.”
Macphail speaking contest for students set for February 17
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The annual Agnes Macphail Public Speaking Contest for elementary school students will take place Wednesday, February 17, 2016 in the True Davidson Council Chambers of the East York Civic Centre, 850 Coxwell Ave. The best speeches will be heard in the final round of this event from students in grades 6, 7, 8 of East York and nearby schools. The event will begin at 7 p.m. There are students from schools in the Toronto District School Board as well as the Toronto Catholic District School Board participating. St. Anselm’s will be participating. For information contact Lorna Krawchuk.at (416) 425-4431 or LTKrawchuk8@aol.com
Yahoo fires 1,700 and ponders sale of trademark email
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Marissa Mayer
Yahoo is laying off about 1,700 employees and slashing a slew of products such as Yahoo Games, Yahoo TV, digital magazines, real estate and patents. Many of these are things that embattled CEO Marissa Mayer started when she arrived at Yahoo in 2012. But today the long-feared purge began and for Mayer it is a case of make money or get out. The cost-cutting is designed to save about $400 million annually against a steep decline in net revenue this fiscal year. Even that may not be enough. The Internet service will pull back internationally and ponder the sale of all the company’s Internet operations (including Yahoo mail). Analysts have speculated that Verizon, AT&T and Comcast might be interested in buying Yahoo’s main business, despite years of deterioration.
Resident concerned for pedestrians at Bayview and Soudan
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Screeching tires and sirens can be heard from inside Mr. Smith’s home.
South Bayview resident, Ian Smith, is sick and tired of seeing collisions and injuries near his home at the intersection of Bayview & Soudan Aves. (Parkhurst to the east). For the last two years he has noticed a steady increase in traffic mishaps in this location and believes that the LRT construction may have something to do with it. With many drivers avoiding the chaos of Eglinton, they are choosing to frequent side streets, causing traffic issues that may not have existed a few years ago.
Mr. Smith has contacted Mark Saunders, Chief of Police, Toronto Police Service and local Councillors Burnside and Matlow (who share this intersection). He wants to see this intersection become safer for pedestrians, cyclists and drivers.
Dear Chief Saunders,
I am a resident living steps away from the intersection of Bayview Ave. and Soudan Ave.
This intersection has a PXO crosswalk installed and has four lanes of traffic on Bayview and two lanes on the Soudan/Parkhurst cross street. The four lanes of Bayview have the PXO crosswalk.
This letter is to request a traffic survey to ascertain if an adult crossing guard is warranted in this location. Alternately, are there are any other tools at your disposal to improve the safety of this dangerous intersection.
I have contacted City Councillors Burnside and Matlow regarding this matter, and my city Councillor Josh Matlow gave me his full support to make this application. I have also spoken with Sgt Matt Moyer at 53 Division about this issue and possible solutions.
Last month we had a meeting on site which included the Councillors and city staff along with a police officer and concerned residents. The meeting was called due to the increase in traffic caused by the LRT and condo construction diverting traffic to the adjacent residential streets. This increase in traffic has brought with it the frequent collisions we are seeing as traffic tries to cross four lanes of traffic at Bayview, during rush hour it is quite hectic and dangerous to cross the street. The police data itself shows a high risk intersection with almost a hundred collisions a year and around a dozen personal injuries each year based on the month of January data.
This is a residential neighbourhood heavy with pedestrian traffic from schools nearby, I am concerned that the intersection controls as they stand today do not perform their intended purpose any longer. A traffic review and the needed improvements are required in the short term to address this new reality.
Thank you for your consideration,
Regards,
Ian G. Smith
We commend Mr. Smith for being pro-active on this issue. If you live in the area, please contact your Councillor and request something be done to increase safety on South Bayview.
Scottish storm blows waterfalls backwards on Isle of Mull
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An Atlantic storm pounding Scotland has driven waterfalls backwards on the Isle of Mull and caused authorities to warn against travel of any kind. Roads, bridges and rail routes have been battered by heavy rain and gale force winds. Trucks have been overturned and trees uprooted. The Forth Road Bridge was also closed earlier on Monday. This brief video reveals a genuine rarity in weather phenomena
Raccoon gives subway riders a smile at Spadina station
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A raccoon brightened the rush hour for commuters Tuesday when it made a quick tour of the platform and a train car before disappearing down onto the tracks. As far as news goes, it is a nice distraction from groundhogs.
Leaside Select Tourney to host thousands this weekend
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The 26th Leaside Select Hockey Tournament will roll into Leaside Gardens (and several other local arenas) for the great family event scheduled from Thursday to Sunday, February 4 to 7, 2016. This year Grant Worden, vice president of the Leaside Hockey Association’s Select Tournament, will be in charge. In recent years as many 1,800 youngsters from across Ontario and elsewhere have competed in 12 age groups. The kids, 6 to 18 years old, are on 100 teams and as many as 6,500 family members will trek their way through local ice palaces. Here is a PDF of the schedule. It is an amazing organizational job.
Jon Burnside asks police board to defer promotions
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Jon Burnside (Ward 22) has written to the Police Services Board asking that it direct the chief, Mark Saunders, to stand down on a move to begin the process of senior promotions. Letter PDF
Prom Drive looking for gently-used formal clothes
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That nice charitable effort known as the Prom Drive is underway again. This is an annual collection of gently-used formal and semi-formal clothes — dresses, suits, shoes and accessories — that can be worn by high school kids to attend their school formal when they don’t have the money to buy new stuff. It is run by Bosley Real Estate on Merton Street and the Danforth as well as McDowell’s Valu-Mart. The clothes are delivered to New Circles Community Services on Bartley Drive in East York. The drive runs until April 11, 2016. To arrange for delivery send mail to Alexa Rocca at alexr@bss.on.ca
Asian supermarket, Heritage Funeral home oppose Costco
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Two important businesses in Thorncliffe Park have appealed a City decision to permit the construction of a Costco store on the former Coca Cola property at 42/46 Overlea Blvd. to the Ontario Municipal Board (OMB) One is Iqbal Halal Foods, often thought of as the largest Asian food retailer and wholesaler in Toronto and perhaps in Canada. It is located at 2 Thorncliffe Drive to the west of the proposed Costco site. This area contains a clutch of businesses serving the Muslim community and others. This is the stub end of Thorncliffe Park Drive on the south end of the Thorncliffe crescent. The other successful business is Heritage Funeral Home, which sits prominently at 50 Overlea to the east off the Coca Cola lands. There is a third petitioner to the OMB who is described as a nearby resident but whose name has not been released. Costco deal close to collapse as neighbors appeal to OMB
Costco deal close to collapse as neighbours appeal to OMB
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Councillor Jon Burnside says in his current newsletter that three individuals have appealed Council’s November approval of the construction of a Costco store at the former Coca Cola properties at 42/46 Overlea Blvd. The complainants are said to be one nearby resident and two nearby business owners. Burnside says the matter might take as long as 18 months. He also says that the agreement to delay the construction of a gas bar at the store, which had been accepted by Costco, has now been reneged on by the firm. Burnside writes: “Costco representatives recently contacted me to advise that they will now likely appeal the deferral of the gas bar (and associated conditions) arguing that to avoid further delays and expenses it makes more sense to do so.” He says that discussions “are ongoing and I am actively working to avoid this course of action”