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Canada News for Jan. 3: Just how much money did Canada’s CEOs make in 2021?

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Canada News is a roundup of stories from The Canadian Press designed to kickstart your day. Here is what’s on the radar of our editors for the morning of Tuesday, Jan. 3, 2023 …

What we are watching in Canada …

Canada’s 100 highest-paid CEOs made an average of $14.3 million in 2021, smashing the previous record of $11.8 million set in 2018, according to the Canadian Centre for Policy Alternatives (CCPA).

Report author and CCPA senior economist David Macdonald said that the 100 CEOS, who are mostly men, made 243 times the average Canadian worker in 2021, again beating 2018’s record of 227 times.

Most of the money these CEOs made was not from their salary, but from so-called variable compensation, which includes bonuses, stock options and shares. That ratio has been climbing over the years, with 83 per cent of CEOs’ total pay in 2021 made up of variable compensation compared with 69 per cent in 2008, according to the report.

The list’s floor has been rising as average CEO pay gets higher, said Macdonald; this year the lowest-paid CEO on the list was Cameco Corp.’s Tim Gitzel, at $6.7 million.

The CEO pay trends of 2021 are likely to have continued into 2022 as they were driven by historically high profits and historically high inflation, said Macdonald, which of course continued over the past year despite the Bank of Canada’s efforts to quell inflation with — again, historic — interest rate hikes.

Also this …

Canadian investors who made it through a tumultuous 2022 face further uncertainty in the year ahead amid increased recession risk, higher interest rates, persistent inflation, a jittery stock market and a plummeting real estate market.

Investment professionals and personal finance experts say the easiest way to grow your money this year is to keep things simple.

It’s a good time to invest in the stock market now that prices have come down quite a bit, especially for people with time on their side, said investment expert and author of “The Sassy Investor” Michelle Hung.

Hung also suggests including some safer investment options like guaranteed investment certificates (GICs). The two main features of every GIC are the term and the interest rate.

When it comes to where stock markets are headed, Carol Schleif, chief investment officer at BMO Family Office says “being in cash right now isn’t a bad idea.” Cash, or liquid funds, in an investment portfolio gives you wiggle room during times of financial uncertainty.

What we are watching in the U.S. …

The new U-S Congress opens with House Republican leader Kevin McCarthy grasping for his political survival.

McCarthy could become the first nominee for speaker in 100 years to fail to win support from his own colleagues in the first round of voting.

A new generation of Trump-aligned Republicans are leading the opposition to McCarthy, inspired by the former president’s Make America Great Again slogan. They don’t think McCarthy is conservative enough or tough enough to battle Democrats.

The noontime showdown could very well devolve into a prolonged floor fight. Some Republicans worry about a spectacle that divides the party when they’d rather be focused on their priorities, including investigating U-S President Joe Biden’s administration.

It’s in stark contrast with the other side of the Capitol, where Republican Senate leader Mitch McConnell is set to become the longest-serving party leader.

What we are watching in the rest of the world …

South Korea reconfirmed Tuesday that Seoul and Washington are discussing its involvement in U.S. nuclear asset management in the face of intensifying North Korean nuclear threats, after U-S President Joe Biden denied that the allies were discussing joint nuclear exercises.

The purported difference came after North Korean leader Kim Jong Un entered the new year with a vow to mass-produce battlefield nuclear weapons targeting South Korea and introduce a more powerful intercontinental ballistic missile capable of striking the mainland U.S.

Some experts say Kim would eventually aim to use his enlarged weapons arsenal to wrest outside concessions like sanctions relief.

Last year, North Korea performed a record number of weapons tests by launching a variety of ballistic missiles capable of reaching the U.S. mainland and its allies South Korea and Japan. In September, North Korea also adopted a new law authorizing the preemptive use of its bombs in a broad range of cases, including non-war scenarios.

On this day in 1912 …

The first Canadian hockey game played on artificial ice saw the New Westminster Royals beat the host Victoria Aristocrats 8-3.

In sports …

Buffalo Bills defensive back Damar Hamlin was in critical condition early Tuesday after suffering a cardiac arrest on the field following a tackle hours earlier.

On the play the 6-foot, 200-pound Hamlin was injured, Higgins led with his right shoulder, which hit the defensive back in the chest. Hamlin then wrapped his arms around Higgins’ shoulders and helmet to drag him down. Hamlin quickly got to his feet, appeared to adjust his face mask with his right hand, and then fell backward about three seconds later and lay motionless.

Hamlin was treated on the field by team and independent medical personnel and local paramedics, and he was taken by ambulance to the University of Cincinnati Medical Center.

The upsetting incident sparked concern across both teams, the Bills and the hosting Cincinnati Bengals, leading to the indefinite postponement of the pivotal Monday night showdown.

The Bills said in a statement: “Damar Hamlin suffered a cardiac arrest following a hit in our game versus the Bengals. His heartbeat was restored on the field and he was transferred to the UC Medical Center for further testing and treatment. He is currently sedated and listed in critical condition.”

About 100 Bills fans and a few Bengals fans gathered on a corner one block from the emergency room entrance, some of them holding candles.

Did you see this?

Scientists who study the endangered North Atlantic right whale are cautiously optimistic about the current breeding season after nine calves were spotted during its first few weeks.

Moira Brown, senior scientist with the Canadian Whale Institute, said fewer than 100 of the 340 surviving animals in the waters along Canada’s eastern coast are mothers.

“Every calf is valuable,” she said. “It’s a little bit of hope for the future. The last 10-to-12 years have been pretty hard on right whales.”

The calving season for North Atlantic right whales starts in mid-November and runs through mid-April.

The interval between one birth and another is usually three to five years, but more recently scientists have seen that window expand to between seven and 10 years, Brown said.

Boris Worm, an expert in marine conservation at Dalhousie University in Halifax, said North Atlantic right whales have to contend with several pressures including ship strikes, entanglements from fishing gear and warming waters from climate change that bring challenges related to food.

“The fertility of the whale does correlate with changes in the abundance of their food and distribution. And their food source has collapsed since 2000,” he said.

Around 2010, Brown said scientists noticed a shift in right whales’ habitat from around the Gulf of Maine, which includes the Bay of Fundy and south of Nova Scotia, to the Gulf of St. Lawrence.

“I give the right whales a lot of credit,” she said. “They found food elsewhere, which is good.”

This report by The Canadian Press was first published Jan. 3, 2023

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Ticats host Redblacks in important East Division contest for both teams

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HAMILTON – For Scott Milanovich and the Hamilton Tiger-Cats, what’s understood need not be discussed.

Hamilton (3-9) hosts Ottawa (8-3-1) on Saturday afternoon in an important East Division matchup for both teams. The Ticats enter weekend action six points behind third-place Toronto (6-6) while the Redblacks can clinch their first post-season berth since 2018 with a victory.

And with Toronto visiting the B.C. Lions (7-6) on Friday night, Hamilton will have a clearer indication of its situation Saturday.

But Milanovich, in his first season as Hamilton’s head coach, has steadfastly maintained his club’s most pressing duty is to win the next game on its schedule.

“There’s too many games left, we’re too far away to start thinking about these things,” he said. “I certainly don’t think I have to impress upon (Ticats players) the importance of this game.

“They’re well aware of it.”

Ottawa won the first meeting of the season 24-22 at TD Place on June 30. Before that, though, Hamilton had won 10 straight over the Redblacks.

Hamilton comes off a bye week following its 31-28 Labour Day win over Toronto on Sept. 2. That gave the Ticats the season series with the two teams slated to meet once more (Sept. 20 at BMO Field).

The reality is Hamilton will need help to overtake Toronto for third and reach the CFL postseason. Ottawa, on the other hand, controls its playoff fate entering Saturday’s contest.

The Redblacks are 2-1 within the East Division but 2-3 away from TD Place. Hamilton is 2-3 versus its conference rivals and just 2-4 at Tim Hortons Field.

Veteran Bo Levi Mitchell threw for 347 yards and two TDs in the Labour Day win. He’ll start against Ottawa even though youngster Taylor Powell came off the injured list after suffering a head injury in the Ticats’ 47-22 home win over Edmonton on Aug. 17.

Mitchell has a career record of 10-3-2 against Ottawa. And over the Ticats’ last two games, receiver Tim White has 13 catches for 314 yards (24.2-yard average) and two TDs.

With the bye week, Hamilton will play 12 days after its rivalry win over Toronto. Ideally, the Ticats would’ve been able to ride the momentum of that victory into the following week but Mitchell said during a long CFL regular season players take their downtime whenever it comes.

“Yeah, I definitely think guys wanted to build off this momentum,” he said. “We still will but we also know momentum is very subject to the moment.

“You might have momentum going into a game but they feel the same way and that all changes basically after the first kickoff.”

Rookie running back Greg Bell will make a fifth start and fourth straight ahead of veteran James Butler. The six-foot, 200-pound American has rushed for 204 yards and three TDs on 33 carries (6.2-yard average) in his last three contests while adding 11 catches for 132 yards and a touchdown.

The five-foot-nine, 210-pound Butler ran for 1,116 yards last season, his first with Hamilton. And over eight contests in 2024, Butler rushed for 440 yards and a TD on 92 carries (4.8-yard average) while also recording 37 receptions for 312 yards and a touchdown.

“I know what it looks like, this is not an indictment on James Butler whatsoever,” Milanovich said. “He’s a good back.

“I just felt like we wanted Greg’s juice out there a little bit.”

Milanovich said Butler and Bell are very different players.

“James is more of a power runner, the first guy is not going to bring him down,” Milanovich said. “James is an elite pass protector and also a good receiver.

“He (Bell) is explosive … he’s kind of a slasher. When he does see the hole he hits it and he’s a threat receiving. Certainly, there are things he needs to continue to work on but he’s a threat out there, he’s somebody guys have to worry about.”

At first glance, an easy solution would seem to be having both players in the lineup. But Milanovich said it’s not that simple.

“It’s just it’s hard right now with where we’re at with the roster,” he said. “It’s hard to get another American on who’s not going to play a major role offensively or defensively.”

Bell will make his second appearance versus Ottawa, running for 52 yards on 13 carries back in June. And Bell isn’t getting preoccupied with the importance of Saturday’s contest.

“No pressure,” he said. “We’ve all been doing this our whole lives so it’s just football.

“Just run hard, follow my blockers. If they open a hole I’m going to hit it hard.”

This report by The Canadian Press was first published Sept. 13, 2024.



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Longtime AD and 2-time national champion baseball coach Tanner to switch roles at South Carolina

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COLUMBIA, S.C. (AP) — Ray Tanner is stepping down as South Carolina’s athletic director after more than 12 seasons, he said Friday.

Tanner, a two-time national champion baseball coach for the Gamecocks, took over as head of the department in 2012 following his team’s third straight trip to the College World Series. The 66-year-old announced his intentions at a meeting of the school’s board of trustees.

Tanner will remain athletic director until his successor arrives. Tanner will then transition to become athletics director emeritus and senior advisor to the president, focusing on fundraising and community engagement.

“There was going to be a time” to change, Tanner said. “When I coached baseball, I didn’t leave the baseball program because I didn’t think it was good anymore to become the athletic director, it was time. And I knew it was getting close to time in this role as well.”

A national search for a new athletic director will begin at the end of November, university president Michael Amiridis said.

Tanner’s tenure has had its highs and lows.

Women’s basketball has won three national titles under coach Dawn Staley in 2017, 2022 and, most recently, 2024. And while Tanner was still baseball coach when Staley came on board before the 2008-09 season, he helped keep her with the Gamecocks despite other outside opportunities.

Tanner has hired two full-time football coaches over his 12 years as the program has tried to make strides in the difficult Southeastern Conference.

Will Muschamp served from 2017 until his dismissal before the end of the 2020 season, going 28-30 overall and 17-22 in the SEC.

Current coach Shane Beamer was hired in December 2020 and has had two winning seasons in his first three years. The Gamecocks (2-0, 1-0 SEC) face No. 16 LSU (1-1) at home on Saturday.

Tanner said he was honored to be at South Carolina for nearly three decades and the chance to continue in a different role.

Amiridis was reluctant to let Tanner go as athletic director when the two began chatting about his successor. But Amiridis was pleased to have Tanner remain as athletic director emeritus and a presidential advisor with a focus on fundraising and community engagement.

“I am glad to see he’s continuing on in a role with the university and his willingness to do that,” said Board of Trustees chairman Thad Westbrook. “Ray, he doesn’t have a degree from South Carolina, but there’s no one who loves our university more.”

Tanner came to South Carolina in 1996 as baseball coach and went on to make six trips to the College World Series. The Gamecocks won it all in 2010 and 2011 and reached the final series in 2012 before missing a three-peat against Arizona.

A short time later, Tanner was named athletic director after Hyman left for Texas A&M.

Tanner said his successor would need to be “nimble” in navigating the new, rapidly changing world of college athletics.

Amiridis said he would look for an athletic director with experience who had a similar respect for athletics as Tanner.

Tanner said he will not be closely involved in picking the next athletic director.

“I’m gratefully for the time that I’ve been able to spend in South Carolina and the opportunity moving forward,” he said. “We have a great place, we have wonderful people and I’m excited to remain in a capacity that’s going to be new to me, but certainly will energize me in a way that I haven’t experienced in a number of years.”

___

AP sports:

The Canadian Press. All rights reserved.



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Driver charged with killing NHL’s Johnny Gaudreau and his brother had .087 blood-alcohol level

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PHILADELPHIA (AP) — The driver charged with killing NHL hockey player Johnny Gaudreau and his brother Matthew as they bicycled on a rural road had a blood-alcohol level of .087, above the .08 legal limit in New Jersey, a prosecutor said Friday.

Gaudreau, 31, and brother Matthew, 29, were killed in Carneys Point, New Jersey, on Aug. 29, the evening before they were set to serve as groomsmen at their sister Katie’s wedding.

The driver, 43-year-old Sean M. Higgins of nearby Woodstown, New Jersey, is charged with two counts of death by auto, along with reckless driving, possession of an open container and consuming alcohol in a motor vehicle. At a virtual court hearing Friday, a judge ordered that he be held for trial after prosecutors described a history of alleged road rage and aggressive driving.

“’You were probably driving like a nut like I always tell you you do. And you don’t listen to me, instead you just yell at me,’” his wife told Higgins when he called her from jail after his arrest, according to First Assistant Prosecutor Jonathan Flynn of Salem County.

The defense described Higgins as a married father and law-abiding citizen before the crash.

“He’s an empathetic individual and he’s a loving father of two daughters,” said defense lawyer Matthew Portella. “He’s a good person and he made a horrible decision that night.”

Higgins told police he had five or six beers that day and admitted to consuming alcohol while driving, according to the criminal complaint. He also failed a field sobriety test, the complaint said. A prosecutor on Friday said he had been drinking at home after finishing a work call at about 3 p.m., and having an upsetting conversation with his mother about a family matter.

He then had a two-hour phone call with a friend while he drove around in his Jeep with an open container, Flynn said. He had been driving aggressively behind a sedan going just above the 50 mph speed limit, sometimes tailgating, the female driver told police.

When she and the vehicle ahead of her slowed down and veered left to go around the cyclists, Higgins sped up and veered right, striking the Gaudreas, the two other drivers told police.

“He indicated he didn’t even see them,” said Superior Court Judge Michael J. Silvanio, who said Higgins’ admitted “impatience” caused two deaths.

Higgins faces up to 20 years, a sentence that the judge said made him a flight risk.

Higgins has a master’s degree, works in finance for an addiction treatment company, and served in combat in Iraq, his lawyers said. However, his wife said he had been drinking regularly since working from home, Flynn said.

Johnny Gaudreau, known as “Johnny Hockey,” played 10 full seasons in the league and was set to enter his third with the Columbus Blue Jackets after signing a seven-year, $68 million deal in 2022. He played his first eight seasons with the Calgary Flames, a tenure that included becoming one of the sport’s top players and a fan favorite across North America.

Widows Meredith and Madeline Gaudreau described their husbands as attached at the hip throughout their lives. Both women are expecting, and both gave moving eulogies at the double funeral on Monday.

The Canadian Press. All rights reserved.



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