BlackBerry goes private under Fairfax Financial

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Prem Watsa (left) Chairmen and CEO of Fairfax Financial said that the $4.7 billion U.S. deal to take BlackBerry private deal will open a new and exciting chapter for the firm and its customers. “We can deliver immediate value to shareholders, while we continue the execution of a long-term strategy in a private company with a focus on delivering superior and secure enterprise solutions to BlackBerry customers around the world,” Watsa said in a press release. Watsa is one of Canada’s best-known value investors and the billionaire founder of Fairfax Financial Holdings Ltd. He has been compared to Warren Buffett because of his investing approach. BlackBerry founder Mike Lazaridis (right) recruited Watsa to join the company’s board when Lazaridis and Jim Balsillie stepped aside as its co-CEOs in January, 2012.Watsa said in April that he’s a “big supporter” of current CEO Thorsten Heins (centre) and called his promotion the right decision in early 2012. He also said he’s excited about the company’s new BlackBerry 10 operating system. CTV   ABC

Protected bikes lanes will impact Eglinton retail

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The Eglnton Connects project is a pleasant sounding undertaking which is apparently intended to somehow make Eglinton Ave (both east and west) better than it is.  One of the options put forward by planners is breath-taking in its potential to put an end to retail business on Eglinton Ave. forever. This is the one that asks whether there should be “protected” bicycle lanes running the entire distance from Black Creek Drive to Brentcliffe Rd. These are the lanes that separate with a concrete ridge where cars may drive and park from bike travel. The suggestion, if it were implemented, would eliminate thousands of parking spaces on Eglinton Ave. and erect an enormous barrier, both physical and psychological, to shopping traffic. It would also eliminate an unknown treasure of parking ticket fines from  this street. This and other ideas are to be discussed at three meetings — west, centre and east — to be held October 7, 8, and 9. The locations are: West Workshop, Monday, October 7 George Harvey C.I. 1700 Keele Street, Central Workshop Tuesday, October 8 Forest Hill C.I. 730 Eglinton Ave West Near Chaplin and Eglinton, East Workshop Wednesday, October 9 Jean Vanier S.S. 959 Midland Avenue Just north of Eglinton. Most business people want to start with their councillor.  Website  

Jim Flaherty pledges $660 million of “real” money

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Jim Flaherty never likes to miss a chance to say that the federal government really does have the money to pledge towards the extension of the Danforth subway. He also likes to remind Ontario voters that the government in Ottawa is stable — it has a majority — unlike the wobbly Liberals at Queen’s Park. So it was today as Mr.Flaherty, flanked by Mayor Ford and TTC Chair Karen Stintz, promised to pony up $660,000 for the subway extension.  The feds are backing the City of Toronto plan to build an extension with many stations, not the two-station economy model announced a few days ago by provincial minister Glen Murray. Flaherty says the money is a “done deal” and comes at the request of  Mayor Ford and city council. At the announcement this morning (Monday) in Scarborough, Flaherty said the message from the federal government is “you have our money, now let’s get this subway built.”  Ontario Premier Kathleen Wynne said earlier today that she doesn’t think the federal government would have come to the table if the province had not made its $1.4-billion funding commitment. But she said the “disconcerting part” is that the federal money isn’t part of a broader transit strategy. And so, even when there is agreement, the political shots go on.

Northern SS gifted students night October 16

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Northern Secondary School will hold an information night Wednesday, October 16, 2013 to reveal the many opportunities available to all students. The Gifted Advisory Committee of the Northern Secondary School Parent Council sponsors the information night for parents and students in grades 9, 10, 11 and 12 for everyone. Parents are invited to come and learn about the Advanced Placement Program, tips and tricks on how to apply for Scholarships and Awards, and for the exciting possibilities of enrichment  opportunities available outside of Northern.  For information:  416-272-8295  

Smile Cookie campaign at Tim Hortons this week

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The annual Tim Horton’s Smile Cookie campaign is on today and this week to raise funds for charities all across Ontario. It is a program that goes back seven years when the company sold some of the happy-face cookies to raise money for the Hamilton’s Children’s Hospital. Now the Smile Cookie is a regular chance for everyone to see the $1 price go entirely to a good cause.

East York mugging for gym bag and cell phone

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Toornto Police Service report: A 27 year old male reports that on September 20, 2013 at approximately 2200 hours, he was in the area of Browning Avenue and Chester Avenue when he was approached by three male suspects. One of the suspects grabbed the victim from behind in a bear hug taking him to the ground. A second suspect attempted to remove the victim’s cellular phone. A third suspect kicked the victim. The suspects fled the scene westbound on Browning Avenue with the victim’s gym bag and cellular phone. No injuries were sustained by the victim. Police are requesting the assistance of the public in identifying the following described persons in connection with this offence. Description of Suspect #1-4: Male, 17 to 20 years, 5’6 to 5’8, thin build

PM jets into town with subway funding promise

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Stephen Harper got back into the Toronto subway game today with a brief visit here for a meeting with Mayor Ford minutes from the government jet’s berth at Toronto Airport. Mr. Harper promised to support the construction of an extension to the Danforth  line all the way to Scarborough. The prime minister met with the mayor in a Mississauga hotel room. Only cameras, no reporters, were permitted into the room and remarkably there was no one present from the provincial government. The Finance Minister, Mr Flaherty, was there.The PM made it clear there will be collaboration between all levels of government to pay for the extension. “Mr. Flaherty and I, subject of course to the normal approval process, have set aside funds to ensure the financing of Toronto’s plan for the Scarborough subway extension,” Harper said as he met with Ford at a hotel near Pearson Airport. “I think this is good news for Toronto commuters who obviously continue to face the challenges of gridlock.” The amount and source of the money is unstated, but there is of course only one real source of the funds, Mr. and Mrs. Canada. There is said to be news opportunity Monday morning in Scarborough at which Mr. Flaherty may talk more specifically about how much money is available from the federal government. 

“Mother Angie” wins historic German mandate

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Angela Merkel won an overwhelming endorsement from German voters, putting the country’s first female chancellor on course for the biggest election tally since Helmut Kohl’s post-reunification victory of 1990. Bloomberg

Sun up but lights out north of Eglinton Ave. E.

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There was a power outage of about two hours in length Sunday morning south of Mount Hope Cemetery and north of  Eglinton Ave. E.  Maps of the outage seems to show it was confined to the M4P Postal Code. Power was restored about 10.20 a.m.

Five injured in Yorkville club shooting

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Nothing like a night in Yorkville.  Especially if you survive. These five did that at least after early-morning gun play at the Empire Club. Not like the old days when patrons argued about things like trade, and the future of the Commonwealth. Yes, we know. It’s not the same Empire Club. Pity. CP24

Tim Hudak dodges PC leadership review

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For the Ontario PCs, getting rid of Tim Hudak as leader right now would be a bit like changing horses in the middle of the river. Whatever you think of Hudak, he hasn’t yet had the traditional two kicks at the can that every party can expect, assuming his members are of sound mind. We have written here previously about how Hudak’s time as leader so far looks a lot like that of Mike Harris. He went from a widely held public personae as a loser to a leader who won two majorities. What we do know is that the present Premier, Kathleen Wynne, will fight with the ferocity of a wildcat to hold on to power.  At the weekend convention in London,  PC delegates waved red cards to vote no to a leadership review and shouted “shame” when a few souls flashed their blue cards to indicate their support. “I’m feeling buoyed by the energy at this conference,” Hudak said. Mike Harris was among those waving a red card. Previous post 

Lazaridis in bid to take BlackBerry private?

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The Wall Street Journal says that BlackBerry’s original big brain, Mike Lazaridis, is going to try to take the beleaguered company private. The journal says Lazaridis is talking to firms including Blackstone Group LP and Carlyle Group LP about making a bid for Blackberry. The report came a day after BlackBerry said it would cut 4500 jobs, or 40 per cent of its workforce, in the face of hefty losses and weak sales of its new handsets. The company has said it is examining “strategic alternatives,” including a possible sale of the company. The website Wired put a best possible spin on things yesterday saying that a leaner BlackBerry could abandon the consumer market once and for all and get rigorous about becoming a niche company focused on a particular customer — one that needs security, control, and a few particular tasks done remarkably well, possibly even as a software rather than a hardware company.