Heading into the 2024 season, the price floor for crab was set at $2.60 per pound and it has harvesters refusing to go fishing. (Terry Roberts/CBC)
Newfoundland and Labrador’s lucrative snow crab season opened days ago, but harvesters haven’t headed to the water due to a headlock around the pricing formula, which has fish plant workers applying for relief, says the Progressive Conservative fisheries critic.
After weeks of protesting, including shutting down Confederation Building, fish harvesters scored big with concessions on who they could sell their catches to.
The situation soured soon after, when the new crab price formula was revealed.
According to a communications representative for the Association of Seafood Producers, Sara Norris, the harvester share is between 53.9 per cent and 56.9 per cent and, as the market price increases, so does the price paid to harvesters. There also isn’t a cap on the price paid to harvesters.
Once the market reaches above $8, harvesters maintain a margin of 56.9 per cent and as price continues to increase this percentage remains the same.
But harvesters are refusing to go out on the water with the current formula.
Bonavista MHA Craig Pardy called the situation unfortunate and said he’d hoped to avoid a repeat of last year, when there was a six-week delay to the start of the season.
“We got 450 employees at the plant in Bonavista. Many of them — after going through last year with the delay in the season [and] a new change in the formula for EI — have been short on their EI benefits,” he told CBC News.
Pardy said he’s heard that more than 50 Bonavista plant workers have had their EI support elapse and are now without income.
“Some of those have gone to the office to look at income support. and that’s where we are. So how critical is it that we get this fishery started? It is critical,” said Pardy. “The health and welfare and the livelihoods of many are on the line.”
More than 180 people in trouble
The problem is something the Fish, Food & Allied Workers union said it has been trying to bring to the attention of the Newfoundland and Labrador government for months.
In an open letter dated April 5, FFAW president Greg Pretty told Gerry Byrne, the minister of immigration, population growth and skills, that recent changes to EI have hurt plant workers in recent months.
FFAW president Greg Pretty is calling for a meeting with Immigration, Population Growth and Skills Minister Gerry Byrne to discuss the financial hardship facing plant workers. (Patrick Butler/Radio-Canada)
In November, the federal fall fiscal update noted regional unemployment rates were down, resulting in a reduction of EI benefits for some. The federal government said it was adding four additional weeks of regular benefits in certain economic zones, including Newfoundland and Labrador.
On top of adjustments in the number of weeks payable for regular benefits, workers now have to reach a minimum of 490 hours worked to qualify, instead of the previous 420. Their benefits are based on their best 16 weeks of work, as opposed to the previous standard of 14.
At the time, Pretty raised concerns over how the decision would affect seasonal plant workers, estimating they’d be out hundreds of dollars a month.
In Pretty’s recent letter, he said claimants got up to $400 less in benefits over the winter and their claims ran out four to six weeks before the 2024 season.
“While our union is working very hard to ensure an orderly and timely fishery in 2024, many processing plant workers have been without income for almost four weeks (an income loss that cannot be recovered), and have no other choice but to avail on social assistance,” he wrote.
More than 180 unionized plant workers have contacted the union about the growing income gap, he said.
“For clarity, we are seeking programming that will allow these plant workers to receive economic support to stabilize the workforce and promote retention to prevent people from experiencing poverty,” wrote Pretty.
He’s calling for a meeting with Byrne to discuss what economic support programs are available to help impacted workers.
CBC News asked the FFAW for comment but did not hear back by publication time.
TORONTO – Cineplex Inc. reported a loss in its latest quarter compared with a profit a year ago as it was hit by a fine for deceptive marketing practices imposed by the Competition Tribunal.
The movie theatre company says it lost $24.7 million or 39 cents per diluted share for the quarter ended Sept. 30 compared with a profit of $29.7 million or 40 cents per diluted share a year earlier.
The results in the most recent quarter included a $39.2-million provision related to the Competition Tribunal decision, which Cineplex is appealing.
The Competition Bureau accused the company of misleading theatregoers by not immediately presenting them with the full price of a movie ticket when they purchased seats online, a view the company has rejected.
Revenue for the quarter totalled $395.6 million, down from $414.5 million in the same quarter last year, while theatre attendance totalled 13.3 million for the quarter compared with nearly 15.7 million a year earlier.
Box office revenue per patron in the quarter climbed to $13.19 compared with $12 in the same quarter last year, while concession revenue per patron amounted to $9.85, up from $8.44 a year ago.
This report by The Canadian Press was first published Nov. 6, 2024.
TORONTO – Restaurant Brands International Inc. reported net income of US$357 million for its third quarter, down from US$364 million in the same quarter last year.
The company, which keeps its books in U.S. dollars, says its profit amounted to 79 cents US per diluted share for the quarter ended Sept. 30 compared with 79 cents US per diluted share a year earlier.
Revenue for the parent company of Tim Hortons, Burger King, Popeyes and Firehouse Subs, totalled US$2.29 billion, up from US$1.84 billion in the same quarter last year.
Consolidated comparable sales were up 0.3 per cent.
On an adjusted basis, Restaurant Brands says it earned 93 cents US per diluted share in its latest quarter, up from an adjusted profit of 90 cents US per diluted share a year earlier.
The average analyst estimate had been for a profit of 95 cents US per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
ST. JOHN’S, N.L. – Fortis Inc. reported a third-quarter profit of $420 million, up from $394 million in the same quarter last year.
The electric and gas utility says the profit amounted to 85 cents per share for the quarter ended Sept. 30, up from 81 cents per share a year earlier.
Fortis says the increase was driven by rate base growth across its utilities, and strong earnings in Arizona largely reflecting new customer rates at Tucson Electric Power.
Revenue in the quarter totalled $2.77 billion, up from $2.72 billion in the same quarter last year.
On an adjusted basis, Fortis says it earned 85 cents per share in its latest quarter, up from an adjusted profit of 84 cents per share in the third quarter of 2023.
The average analyst estimate had been for a profit of 82 cents per share, according to LSEG Data & Analytics.
This report by The Canadian Press was first published Nov. 5, 2024.
