Premier Ford Announces Over $550,000 for Sheridan College’s Pre-Apprenticeship Programs
BRAMPTON — The Ontario government is providing more students in Brampton with valuable hands-on experiences with the skilled trades by supporting Sheridan College’s pre-apprenticeship programs at its Davis Campus. The programs will help prepare 50 people for good jobs and careers in the skilled trades.
The investment includes $559,837 for Sheridan College’s General Machinist and Industrial Mechanic Millwright pre-apprenticeship programs to create placements for an additional 50 students.
“Over the next five years, one in five jobs created will be in the skilled trades,” Premier Doug Ford said. “We need more skilled workers to help us build the roads, transit, and infrastructure we need, both now and in the future. Young people in Brampton need to know that these are in-demand, well-paying careers, and that’s exactly what we’re doing with today’s announcement.”
The funding is part of the Ontario government’s total investment of $20.8 million in Ontario’s Pre-Apprenticeship Training Program. The government is also increasing annual spending on the program by $2.5 million this year, creating an additional 200 placements in the program.
Today’s funding announcement follows the unveiling of Ontario’s new marketing campaign highlighting the skilled trades as a viable career path. The ads, with the slogan ‘Find a Career You Wouldn’t Trade,’ are currently running online, in movie theatres and on Tim Hortons TV.
“I hear from small businesses across the province of the need for skilled tradespeople to operate and grow their business,” said Prabmeet Sarkaria, Associate Minister of Small Business and Red Tape Reduction. “As our government builds the environment for job and economic growth, the skilled trades continue to be in high demand and a great career choice in Brampton and throughout Ontario. With this announcement, we’re preparing our young people for the jobs of tomorrow, today.”
“In Brampton and throughout the province, there are thousands of jobs that go unfilled each day,” said Monte McNaughton, Minister of Labour, Training and Skills Development. “Those are paycheques waiting to be collected. But the workers aren’t there. Our mission is to bridge that skills gap in Brampton and beyond. Today’s announcement at Sheridan, training two in-demand trades like machinist and millwright, is the next step.”
“Ontario colleges play a vital role in preparing students for a proud professional career in the skilled trades,” said Ross Romano, Minister of Colleges and Universities. “With 81 per cent of apprenticeship training and skilled trades education being completed in our classrooms, programs like the General Machinist and Industrial Mechanic Millwright programs at Sheridan are helping to address local labour market needs while setting students up for success in their careers.”
Pre-apprenticeship training promotes careers in the trades as an option for all Ontario residents, including youth at risk, new Canadians, women and Indigenous people. The training programs are free, last up to one year and often combine classroom training with an 8-12 week work placement.
- Pre-apprenticeship training programs are publicly-funded, last up to one year, and often combine classroom training with an 8-12 week work placement. To find out about programs in your area, contact Employment Ontario by phone, e-mail or live chat.
- Ontario’s colleges train over 80 per cent of the province’s apprentices.
- Retirements in the skilled trades are creating a shortage of skilled workers. In 2016, nearly one in three journeypersons were aged 55 years and over.
- Ontario also recently announced $12.7 million in funding for the Ontario Youth Apprenticeship Program, aimed at encouraging more high school students to consider the skilled trades as a viable career.
Many employers investing less than 5 per cent on digital tech: survey – Canadian HR Reporter
Companies are overlooking quick wins that are comparatively easy to implement, such as cloud services, while others struggle to achieve the integration needed to realize the full potential of data, says KPMG. As well, many seem to have dismissed the opportunities and insights that big data can offer. The survey findings revealed that only one in five (21 per cent) are actively leveraging data analytics.
Robotics and M2M capabilities can speed up production, while IoT facilitates predictive maintenance, reduced downtime and costs and it provided greater visibility into production and delivery, says the report.
“Companies should already be investing in IoT-compliant technology, especially to connect their legacy equipment,” says KPMG’s Yvon Audette, COO, management consulting services. “It’s fast becoming a baseline requirement for companies in these capital asset-intensive sectors; those that fail to invest in IoT will quickly fall behind.”
Although slow in the past to invest in digital technologies, close to half of the industrial companies surveyed by KPMG planned to implement intelligent automation and IoT technologies within the next three years.
SEC reportedly probing Altria's Juul investment – CNBC
Juul brand vape cartridges are pictured for sale at a shop in Atlanta, Georgia.
Elijah Nouvelage | Reuters
Regulators are examining whether the tobacco company sufficiently disclosed to shareholders the risks when it invested $12.8 billion for a 35% stake in Juul in 2018, sources told the Journal. Altria’s stake valued the start-up at $38 billion.
Altria took a $4.1 billion impairment charge for its investment in Juul in January. The company said the charge reflects the growing legal charges against Juul and the expectation that the number of lawsuits will only increase. Juul is being sued by multiple states for its role in promoting vaping among teens and children.
Juul and Altria have both responded to subpoenas from the SEC, sources told the Journal. The e-cigarette maker turned over documents to the SEC that included correspondence with Altria and financial projections that it gave to Altria prior to its decision to invest in Juul, one person said to the Journal.
When reached by CNBC, Altria declined to comment. Juul did not immediately respond to CNBC’s request for comment.
Investors in LatAm get bitten by the hotel investment bug as Ayenda raises $8.7 million
Some of Latin America’s leading venture capital investors are now backing hotel chains.
In fact, Ayenda, the largest hotel chain in Colombia, has raised $8.7 million in a new round of funding, according to the company.
Led by Kaszek Ventures, the round will support the continued expansion of Ayenda’s chain of hotels in Colombia and beyond. The hotel operator already has 150 hotels operating under its flag in Colombia and has recently expanded to Peru, according to a statement.
Financing came from Kaszek Ventures and strategic investors like Irelandia Aviation, Kairos, Altabix and BWG Ventures.
The company, which was founded in 2018, now has more than 4,500 rooms under its brand in Colombia and has become the biggest hotel chain in the country.
Investments in brick and mortar chains by venture firms are far more common in emerging markets than they are in North America. The investment in Ayenda mirrors big bets that SoftBank Group has made in the Indian hotel chain Oyo and an investment made by Tencent, Sequoia China, Baidu Capital and Goldman Sachs, in LvYue Group late last year, amounting to “several hundred million dollars”, according to a company statement.
“We’re seeking to invest in companies that are redefining the big industries and we found Ayenda, a team that is changing the hotel’s industry in an unprecedented way for the region”, said Nicolas Berman, Kaszek Ventures partner.
Ayenda works with independent hotels through a franchise system to help them increase their occupancy and services. The hotels have to apply to be part of the chain and go through an up to 30-day inspection process before they’re approved to open for business.
“With a broad supply of hotels with the best cost-benefit relationship, guests can travel more frequently, accelerating the economy,” says Declan Ryan, managing partner at Irelandia Aviation.
The company hopes to have more than 1 million guests in 2020 in their hotels. Rooms list at $20 per-night, including amenities and an around the clock customer support team.
Oyo’s story may be a cautionary tale for companies looking at expanding via venture investment for hotel chains. The once high-flying company has been the subject of some scathing criticism. As we wrote:
The New York Times published an in-depth report on Oyo, a tech-enabled budget hotel chain and rising star in the Indian tech community. The NYT wrote that Oyo offers unlicensed rooms and has bribed police officials to deter trouble, among other toxic practices.
Whether Oyo, backed by billions from the SoftBank Vision Fund, will become India’s WeWork is the real cause for concern. India’s startup ecosystem is likely to face a number of barriers as it grows to compete with the likes of Silicon Valley.
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