The entrance of a tea shop that has been turned into a ‘Lennon Wall’ of pro-protest notes in Hong Kong, in this Thursday photo. Stores that openly support Hong Kong’s pro-democracy protest movement are nicknamed ‘yellow shops.’ (Mark Schiefelbein/The Associated Press)
Alan Yu runs an auto repair shop in northern Richmond, B.C. Last month, Yu discovered his business was caught up in a political debate that is raging across the Pacific.
A Facebook group published a crowdsourced list that categorizes his eight-year-old business as “yellow,” meaning he supports the ongoing protests in Hong Kong.
Yu said he was “surprised” but happy that his business had been identified as one that supports the protesters, who since last spring have staged massive demonstrations calling for political change in Hong Kong.
“If the people like it, I can put the Lennon Wall in my office,” he said, referring to a space for Post-it notes written with solidarity messages for the protesters thousands of kilometres away.
Yellow vs. blue shops
In Hong Kong, people who sympathize with pro-democracy movements call themselves “yellow ribbons.” Those who support the Chinese government and the police’s use of force on protesters call themselves “blue ribbons.”
The idea to form a “yellow economic circle” originates from a protest slogan being circulated on a Hong Kong discussion forum: “Boycott the blue businesses, shop at the yellow businesses.”
The Canada Hongkonger page, liked by nearly 13,000 users, has been inviting Metro Vancouver “netizens” (politically conscious people using the internet) to report which local shop is yellow, blue or green (meaning political neutrality).
Alan Yu owns a Richmond, B.C., auto repair shop that a crowdsourced shopping guide has identified as being a yellow business. (Salimah Shivji/CBC)
The 46-year-old immigrated to Canada several months before the former British colony was reversed to China in 1997. He said the yellow solidarity campaign may have the same impact of pro-democrats’ landslide victory in the district council elections: “Maybe the Chinese government will try to adjust something for the Hong Kong people.”
‘Yellow’ means corporate responsibility
Albert Chan was a pro-democratic district councillor and legislative councillor in Hong Kong for three decades before moving back to Vancouver two years ago. He praised Yu for participating in the developing “yellow economic circle” for the Lower Mainland.
The 64-year-old said being a yellow business is a matter of corporate responsibility and social conscience: “If you can support a government killing people without reasons, that reflects your values. With people holding those values, how can you trust them to run a business?”
Former Hong Kong lawmaker Albert Chan supports the ‘yellow economic circle’ in Vancouver. (CBC)
“If the Trudeau government refuses to do anything to control that, sooner or later Canada will become a colony of Communist China,” Chan said of Prime Minister Justin Trudeau.
Canada Hongkonger administrator Rick Lau said his Facebook group has connected with Yellow Avengers, an initiative to compile a global yellow shopping guide for Hong Kong travellers.
‘Yellow economy’ may create division
Leo Shin, a history professor at the University of British Columbia, said the idea of using spending power to pressure on a government is not new, quoting the global Anti-Apartheid Movement where international companies disinvested from South Africa.
Shin looks at the shopping with caution, saying it could potentially cause “a great deal of division within the Chinese communities.”
UBC historian Leo Shin said the ‘yellow economy’ may divide Chinese communities. (CBC)
“We should always keep in mind that the ultimate goal is not to encourage division, but to promote coming together in one form or another,” the historian said.
But Yu suggested yellow and blue can coexist: “They believe what they believe, I believe what I believe. In Vancouver, you have freedom of speech… That’s the foundation of Canada’s democracy.”
CBC News contacted B.C. businesses labelled as blue on the list. They all disputed the label and declined interview requests.
MTY Food Group Inc. says its profit and revenue both slid in its most recent quarter.
The restaurant franchisor and operator says its net income attributable to owners totalled $34.9 million in its third quarter, compared with $38.9 million a year earlier.
The results for the period ended Aug. 31 amounted to $1.46 per diluted share, down from $1.59 per diluted share a year prior.
The company behind 90 brands including Manchu Wok and Mr. Sub attributed the fall to impairment charges on property, plants and equipment along with intangibles assets.
Its revenue decreased slightly to $292.8 million in the quarter from $298 million a year ago.
While CEO Eric Lefebvre saw the quarter as a sign that the company’s ongoing restructuring is starting to bear fruits, he said the business was also hampered by significant delays in construction and permitting that resulted in fewer locations opening.
This report by The Canadian Press was first published Oct. 11, 2024.
Taiga Motors Corp. says the Superior Court of Québec has approved its sale to a British electric boat entrepreneur.
The Montreal-based maker of snowmobiles and watercraft says it will be purchased by Stewart Wilkinson.
Wilkinson’s family office is behind marine electrification brands that include Vita, Evoy, and Aqua superPower.
Wilkinson and Taiga did not reveal the terms or value of the deal but say Wilkinson will assume Taiga’s debt to Export Development Canada and has committed to funding Taiga’s business plan.
The companies say the transaction will allow them to achieve greater economies of scale and deliver high-performance products at compelling prices to accelerate the electric transition.
The sale comes months after Taiga sought bankruptcy protection under the Companies’ Creditors Arrangement Act to cope with a cash crunch.
This report by The Canadian Press was first published Oct. 11, 2024.
Toronto-Dominion Bank is facing fines totalling about US$3.09 billion from U.S. regulators in connection with failures of its anti-money laundering safeguards.
The bank also received a cease-and-desist order and non-financial sanctions from the Office of the Comptroller of the Currency that put limits on its growth in the U.S. after it was found that TD had “significant, systemic breakdowns in its transaction monitoring program.”
