Christmas supply-chain crisis has been averted, Biden and FedEx CEO declare | Canada News Media
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Christmas supply-chain crisis has been averted, Biden and FedEx CEO declare

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President Joe Biden said U.S. actions to eliminate supply-chain snarls have staved off a pre-Christmas crisis, ahead of a meeting with U.S. officials and private-sector companies, including FedEx, on Wednesday.

Biden created a task force in June to address high prices and shortages of consumer goods and crucial components, thanks to pandemic-related labor and demand issues.

After pushing for round-the-clock port operations, new transport rules and enlisting the help of big retailers including Walmart Inc. and Target Corp, the White House says it has made significant progress.

“The much-predicted crisis didn’t occur,” Biden said. “Packages are moving, gifts are being delivered, shelves are not empty,” he said. Shelves at grocery and drug stores are stocked at 90% of their full capacity, he said, and deliveries are happening at a faster rate than before the pandemic.

A record number of goods are moving through Southern California ports faster, with shipping container wait time cut in half, the White House said.

Fedex CEO Fred Smith said supply-chain issues are “not all solved” but that “most of Santa Claus’ products will be delivered to the consumers.”

Inflation pressures should ease as labor shortages in the logistics industry are filled, he said. “We think the peak season is going to be a good one.”

Last month, Walmart Chief Executive Doug McMillon said a decision to extend port hours was having a positive impact on the flow of goods.

Retailers pulled holiday imports forward by a couple months and launched Christmas promotions early to ease pressure on the overburdened supply chain.

While thousands of loaded import containers have been cleared from docks since the administration began intervening, the busiest U.S. seaport complex of Los Angeles/Long Beach continues to grapple with a flood of empty containers and about 90 container ships waiting offshore to unload.

Supply-chain issues continue to affect many U.S. industries. Reuters reported this week that candy-cane makers, like retailers and farmers, have been slammed during COVID-19 with high commodity prices, labor shortages, and transportation and supply-chain snarls preventing them from fully cashing in on the holiday season.

However, corporate profits overall have been strong, with most S&P 500 companies beating analysts’ third-quarter expectations.

PANDEMIC SPENDING

Much of the shipping crunch resulted from the pandemic. Homebound Americans with unspent travel and entertainment dollars and government stimulus checks splurged on everything from food and refrigerators to toys and exercise equipment. The demand for imports overwhelmed supply chains.

Biden has also sought investigations into excessive shipping fees and possible illegal conduct in oil and gas markets.

Wednesday’s meeting included the secretaries of Agriculture, Commerce, Labor and Transportation as well as National Economic Council Director Brian Deese and Port Envoy John Porcari.

Also joining were chief executives of clothing retailer Gap Inc, Kansas-based trucking company Yellow Corp and the American Association of Port Authorities.

The White House on Wednesday also said fuel prices had dropped 12 cents a gallon on average to $3.30 since the recent peak last month, but added that Biden “believes that they are too high, especially given that we are emerging from a once-in-a-century pandemic.”

 

(Reporting by Trevor Hunnicutt, David Shepardson and Lisa Baertlein; Editing by Gerry Doyle, Heather Timmons and Mark Porter)

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Carry On Canadian Business. Carry On!

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Human Resources Officers must be very busy these days what with the general turnover of employees in our retail and business sectors. It is hard enough to find skilled people let alone potential employees willing to be trained. Then after the training, a few weeks go by then they come to you and ask for a raise. You refuse as there simply is no excess money in the budget and away they fly to wherever they come from, trained but not willing to put in the time to achieve that wanted raise.

I have had potentials come in and we give them a test to see if they do indeed know how to weld, polish or work with wood. 2-10 we hire, and one of those is gone in a week or two. Ask that they want overtime, and their laughter leaving the building is loud and unsettling. Housing starts are doing well but way behind because those trades needed to finish a project simply don’t come to the site, with delay after delay. Some people’s attitudes are just too funny. A recent graduate from a Ivy League university came in for an interview. The position was mid-management potential, but when we told them a three month period was needed and then they would make the big bucks they disappeared as fast as they arrived.

Government agencies are really no help, sending us people unsuited or unwilling to carry out the jobs we offer. Handing money over to staffing firms whose referrals are weak and ineffectual. Perhaps with the Fall and Winter upon us, these folks will have to find work and stop playing on the golf course or cottaging away. Tried to hire new arrivals in Canada but it is truly difficult to find someone who has a real identity card and is approved to live and work here. Who do we hire? Several years ago my father’s firm was rocking and rolling with all sorts of work. It was a summer day when the immigration officers arrived and 30+ employees hit the bricks almost immediately. The investigation that followed had threats of fines thrown at us by the officials. Good thing we kept excellent records, photos and digital copies. We had to prove the illegal documents given to us were as good as the real McCoy.

Restauranteurs, builders, manufacturers, finishers, trades-based firms, and warehousing are all suspect in hiring illegals, yet that becomes secondary as Toronto increases its minimum wage again bringing our payroll up another $120,000. Survival in Canada’s financial and business sectors is questionable for many. Good luck Chuck!. at least your carbon tax refund check should be arriving soon.

Steven Kaszab
Bradford, Ontario
skaszab@yahoo.ca

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Imperial to cut prices in NWT community after low river prevented resupply by barges

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NORMAN WELLS, N.W.T. – Imperial Oil says it will temporarily reduce its fuel prices in a Northwest Territories community that has seen costs skyrocket due to low water on the Mackenzie River forcing the cancellation of the summer barge resupply season.

Imperial says in a Facebook post it will cut the air transportation portion that’s included in its wholesale price in Norman Wells for diesel fuel, or heating oil, from $3.38 per litre to $1.69 per litre, starting Tuesday.

The air transportation increase, it further states, will be implemented over a longer period.

It says Imperial is closely monitoring how much fuel needs to be airlifted to the Norman Wells area to prevent runouts until the winter road season begins and supplies can be replenished.

Gasoline and heating fuel prices approached $5 a litre at the start of this month.

Norman Wells’ town council declared a local emergency on humanitarian grounds last week as some of its 700 residents said they were facing monthly fuel bills coming to more than $5,000.

“The wholesale price increase that Imperial has applied is strictly to cover the air transportation costs. There is no Imperial profit margin included on the wholesale price. Imperial does not set prices at the retail level,” Imperial’s statement on Monday said.

The statement further said Imperial is working closely with the Northwest Territories government on ways to help residents in the near term.

“Imperial Oil’s decision to lower the price of home heating fuel offers immediate relief to residents facing financial pressures. This step reflects a swift response by Imperial Oil to discussions with the GNWT and will help ease short-term financial burdens on residents,” Caroline Wawzonek, Deputy Premier and Minister of Finance and Infrastructure, said in a news release Monday.

Wawzonek also noted the Territories government has supported the community with implementation of a fund supporting businesses and communities impacted by barge cancellations. She said there have also been increases to the Senior Home Heating Subsidy in Norman Wells, and continued support for heating costs for eligible Income Assistance recipients.

Additionally, she said the government has donated $150,000 to the Norman Wells food bank.

In its declaration of a state of emergency, the town said the mayor and council recognized the recent hike in fuel prices has strained household budgets, raised transportation costs, and affected local businesses.

It added that for the next three months, water and sewer service fees will be waived for all residents and businesses.

This report by The Canadian Press was first published Oct. 21, 2024.

The Canadian Press. All rights reserved.

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U.S. vote has Canadian business leaders worried about protectionist policies: KPMG

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TORONTO – A new report says many Canadian business leaders are worried about economic uncertainties related to the looming U.S. election.

The survey by KPMG in Canada of 735 small- and medium-sized businesses says 87 per cent fear the Canadian economy could become “collateral damage” from American protectionist policies that lead to less favourable trade deals and increased tariffs

It says that due to those concerns, 85 per cent of business leaders in Canada polled are reviewing their business strategies to prepare for a change in leadership.

The concerns are primarily being felt by larger Canadian companies and sectors that are highly integrated with the U.S. economy, such as manufacturing, automotive, transportation and warehousing, energy and natural resources, as well as technology, media and telecommunications.

Shaira Nanji, a KPMG Law partner in its tax practice, says the prospect of further changes to economic and trade policies in the U.S. means some Canadian firms will need to look for ways to mitigate added costs and take advantage of potential trade relief provisions to remain competitive.

Both presidential candidates have campaigned on protectionist policies that could cause uncertainty for Canadian trade, and whoever takes the White House will be in charge during the review of the United States-Mexico-Canada Agreement in 2026.

This report by The Canadian Press was first published Oct. 22, 2024.

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