Salespeople are using sketchy tactics to sell HVAC contracts. We caught one in the act
This week, Marketplace and Go Public are teaming up to expose the tactics used to trick consumers into overpriced long-term rental contracts for new heating and cooling equipment — and more.
Our team rigged up a test house with hidden cameras to find out what would happen when a sales representative for a company that has a history of complaints came to inspect the hot water tank.
The veteran HVAC expert we asked to inspect the tank before Ontario Green Savings arrived found nothing at fault. But when Axel Hermosa — a commissioned sales manager at the company — knocked on the door, we heard a very different story.
“You have to get it replaced within the next six days,” he said, explaining that once the tank hits 10 years, insurance will no longer cover any damage. “So if anything happens, I’m liable. I’ve seen the tank … Insurance won’t cover that s–t.”
But when we checked the home’s specific insurance policy, as well as with several other insurance companies and the Insurance Bureau of Canada, all said they do cover damage caused by tanks older than 10 years.
Hermosa also said the new tank would cost about $50 more a month than the current contract, but would be so efficient it would save money in the long run. Many consumers who shared their experience with CBC never saw those savings. Read more
That’s just one of the slick sales tactics you’ll want to watch out for. To see the rest, watch Marketplace’s full investigation.
Hidden cameras catch HVAC scam in action
2 days ago
Duration 22:30
Exposing deceptive sales tactics used to suck people into unfair and overpriced HVAC contracts. And insiders reveal the new ways they get you to sign up for other home equipment too. 22:30
“With the speed at which the newest variant of COVID-19 is spreading, more Canadians than ever before are isolating and are forced to rely on grocery delivery services like Instacart,” said federal NDP critic for industry and MP Brian Masse in a release.
“Canadians who are doing the right thing by staying home to keep their communities safe should not be punished by third-party apps who are cashing in on the situation.”
The party also sent a letter to the chair of the Industry Committee asking for the committee to reconvene to discuss mark ups by third-party apps, among other agenda items.
We’ll keep you in the loop with any updates on this story, and in the meantime, catch up on our full investigation into Instacart below.
Delivery deal or real rip-off?
9 days ago
Duration 22:30
Investigating hidden mark-ups and missed sales on Instacart, plus testing HelloFresh, Chefs Plate, and Goodfood. 22:30
Many front-line health-care workers are getting N95-style masks. Why not those who work in retail?
In Omicron’s wake, many regulations have been changed quickly to better protect workers.
For example, most front-line health-care workers in Ontario now have to wear N95-style masks, which filter the vast majority of dangerous coronavirus particles.
But for people who work with the general public, some of these changes are lagging.
At most grocery stores, there’s still no mandate for the widespread use of N95 or equivalent masks, despite mounting evidence that cloth masks and other inferior options do little to slow the spread of the wildfire that is Omicron. Read more
Many grocery stores are still relying on disposable masks for their workers that experts say are not as good as N95-style masks at limiting transmission of the coronavirus. (Maggie MacPherson/CBC)
Thousands of suspected injuries tied to breast implants revealed in manufacturer data dump, CBC analysis finds
Health Canada was left in the dark for years about thousands of suspected injuries and complications related to breast implants — including multiple mentions of a rare cancer — that manufacturers failed to report.
A CBC data analysis found that more than half of the 5,990 new reports are suspected injuries, while the rest are classified as having the potential for injury or death should they reoccur, also called near misses.
The data suggests manufacturers received some reports as early as 2000, but they weren’t submitted to Health Canada’s database until nearly two decades later.
The organization launched an investigation after reviewing breast implant manufacturer Allergan’s 2017 annual report, which mentioned breast implant incidents that did not appear in Health Canada’s database.
When asked by CBC News to provide more context on this under-reporting and Health Canada’s inspection, Allergan declined to comment. Read more
Back in 2018, a Marketplace hidden camera investigation revealed how some plastic surgeons gloss over the health risks of breast implants during their sales pitches.
Terri McGregor was diagnosed in 2015 with breast implant-associated anaplastic large cell lymphoma (BIA-ALCL), a rare cancer associated with textured breast implants. CBC News found her physician’s report to the manufacturer in a 2019 data dump. (Ousama Farag/CBC News)
Have your batteries leaked or stopped working before you expected? We want to hear from you! Send us your photos and tell us more at marketplace@cbc.ca.
Watch this week’s episode of Marketplace and catch up on past episodes anytime on CBC Gem.
TOKYO (AP) — Japanese technology group SoftBank swung back to profitability in the July-September quarter, boosted by positive results in its Vision Fund investments.
Tokyo-based SoftBank Group Corp. reported Tuesday a fiscal second quarter profit of nearly 1.18 trillion yen ($7.7 billion), compared with a 931 billion yen loss in the year-earlier period.
Quarterly sales edged up about 6% to nearly 1.77 trillion yen ($11.5 billion).
SoftBank credited income from royalties and licensing related to its holdings in Arm, a computer chip-designing company, whose business spans smartphones, data centers, networking equipment, automotive, consumer electronic devices, and AI applications.
The results were also helped by the absence of losses related to SoftBank’s investment in office-space sharing venture WeWork, which hit the previous fiscal year.
WeWork, which filed for Chapter 11 bankruptcy protection in 2023, emerged from Chapter 11 in June.
SoftBank has benefitted in recent months from rising share prices in some investment, such as U.S.-based e-commerce company Coupang, Chinese mobility provider DiDi Global and Bytedance, the Chinese developer of TikTok.
SoftBank’s financial results tend to swing wildly, partly because of its sprawling investment portfolio that includes search engine Yahoo, Chinese retailer Alibaba, and artificial intelligence company Nvidia.
SoftBank makes investments in a variety of companies that it groups together in a series of Vision Funds.
The company’s founder, Masayoshi Son, is a pioneer in technology investment in Japan. SoftBank Group does not give earnings forecasts.
Shopify Inc. executives brushed off concerns that incoming U.S. President Donald Trump will be a major detriment to many of the company’s merchants.
“There’s nothing in what we’ve heard from Trump, nor would there have been anything from (Democratic candidate) Kamala (Harris), which we think impacts the overall state of new business formation and entrepreneurship,” Shopify’s chief financial officer Jeff Hoffmeister told analysts on a call Tuesday.
“We still feel really good about all the merchants out there, all the entrepreneurs that want to start new businesses and that’s obviously not going to change with the administration.”
Hoffmeister’s comments come a week after Trump, a Republican businessman, trounced Harris in an election that will soon return him to the Oval Office.
On the campaign trail, he threatened to impose tariffs of 60 per cent on imports from China and roughly 10 per cent to 20 per cent on goods from all other countries.
If the president-elect makes good on the promise, many worry the cost of operating will soar for companies, including customers of Shopify, which sells e-commerce software to small businesses but also brands as big as Kylie Cosmetics and Victoria’s Secret.
These merchants may feel they have no choice but to pass on the increases to customers, perhaps sparking more inflation.
If Trump’s tariffs do come to fruition, Shopify’s president Harley Finkelstein pointed out China is “not a huge area” for Shopify.
However, “we can’t anticipate what every presidential administration is going to do,” he cautioned.
He likened the uncertainty facing the business community to the COVID-19 pandemic where Shopify had to help companies migrate online.
“Our job is no matter what comes the way of our merchants, we provide them with tools and service and support for them to navigate it really well,” he said.
Finkelstein was questioned about the forthcoming U.S. leadership change on a call meant to delve into Shopify’s latest earnings, which sent shares soaring 27 per cent to $158.63 shortly after Tuesday’s market open.
The Ottawa-based company, which keeps its books in U.S. dollars, reported US$828 million in net income for its third quarter, up from US$718 million in the same quarter last year, as its revenue rose 26 per cent.
Revenue for the period ended Sept. 30 totalled US$2.16 billion, up from US$1.71 billion a year earlier.
Subscription solutions revenue reached US$610 million, up from US$486 million in the same quarter last year.
Merchant solutions revenue amounted to US$1.55 billion, up from US$1.23 billion.
Shopify’s net income excluding the impact of equity investments totalled US$344 million for the quarter, up from US$173 million in the same quarter last year.
Daniel Chan, a TD Cowen analyst, said the results show Shopify has a leadership position in the e-commerce world and “a continued ability to gain market share.”
In its outlook for its fourth quarter of 2024, the company said it expects revenue to grow at a mid-to-high-twenties percentage rate on a year-over-year basis.
“Q4 guidance suggests Shopify will finish the year strong, with better-than-expected revenue growth and operating margin,” Chan pointed out in a note to investors.
This report by The Canadian Press was first published Nov. 12, 2024.
TORONTO – RioCan Real Estate Investment Trust says it has cut almost 10 per cent of its staff as it deals with a slowdown in the condo market and overall pushes for greater efficiency.
The company says the cuts, which amount to around 60 employees based on its last annual filing, will mean about $9 million in restructuring charges and should translate to about $8 million in annualized cash savings.
The job cuts come as RioCan and others scale back condo development plans as the market softens, but chief executive Jonathan Gitlin says the reductions were from a companywide efficiency effort.
RioCan says it doesn’t plan to start any new construction of mixed-use properties this year and well into 2025 as it adjusts to the shifting market demand.
The company reported a net income of $96.9 million in the third quarter, up from a loss of $73.5 million last year, as it saw a $159 million boost from a favourable change in the fair value of investment properties.
RioCan reported what it says is a record-breaking 97.8 per cent occupancy rate in the quarter including retail committed occupancy of 98.6 per cent.
This report by The Canadian Press was first published Nov. 12, 2024.
