City crews were managing gas line-up traffic at Port Coquitlam’s Costco and store shelves were quickly emptying of meat and other groceries today (Nov. 18) as the consequences of B.C’s devastating floods hit close to home.
“They’re hoarding and not really thinking about what they’re doing,” exclaimed one harried deli worker at Costco.
Mayor Brad West made an urgent plea to residents to not take more than they needed and to consider their neighbours.
“Now is the time to be thinking of others, not just ourselves. There is no reason for hoarding and panic buying,” West said in an interview with the Tri-City News.
“The grocery stores have been clear that they will be able to maintain their supplies if people maintain their normal purchasing.”
But in a scene reminiscent of March 2020, when the COVID-19 pandemic began, there were signs residents were worried about getting enough dairy, meat and eggs.
At Costco and Walmart in Port Coquitlam, supplies of beef, pork and chicken were either gone or were being depleted despite limits in place to ensure enough supply.
There was plenty of toilet paper at both stores — a scarce commodity in March last year — but people could only grab two packages.
Eggs were a popular commodity at Costco, but limits were in place. One worker stocking a bin of ground beef said there was enough to go around except for ground turkey, which has to come from Alberta.
The Tri-City News spoke to several shoppers who said they were trying not to overbuy and were placing their faith in the supply chain to ensure there would be enough food for all.
“I was trying not to be worried about it. I was trying to get what I normally get,” said one mom leaving Costco with a shopping cart of goods.
An older couple said they were surprised by how busy it was when they arrived at the warehouse chain, claiming they picked the wrong day to do their monthly shop.
They added they hope a recent change in eating habits to eat less meat and buy their eggs from a local farm will keep them in good shape in the coming weeks.
Ray Lee, a Port Moody resident who was shopping for himself and his martial arts business, said it felt a lot like holiday shopping, but everyone was polite and there were no issues compared to March 2020 when people were much more anxious.
“That was scary,” he commented as he was purchasing his usual amount of goods while acknowledging that many are probably worried about supply chain disruptions and higher food prices.
Given all the worries, he said people were not especially panicking.
“Nobody seems to be in an agitated mood,” he said.
Over at the Costco gas bar, a long line-up snaked through the main parking lot and Mayor West said city crews were arriving on the scene to ensure traffic didn’t spill out into the street.
One driver said he couldn’t understand why there was such a large crowd as he was looking to fill his vehicle with his usual amount of fuel.
A Costco worker speculated a combination of panic buying and the closure of the Abbotsford Costco and gas station were contributing to the crowds.
West is calling on people to not take advantage of the situation and instead, take stock of how well the city came through the recent record rainstorm.
“The same cannot be said for many other communities in the province. We should be sending our support to them.”
At the Port Coquitlam Walmart, people appeared to be orderly and quiet as there were limits for some products, but several meat shelves and bins were bare.
TORONTO – Canada Goose Holdings Inc. says it has signed a deal that will result in the creation of its first eyewear collection.
The deal announced on Thursday by the Toronto-based luxury apparel company comes in the form of an exclusive, long-term global licensing agreement with Marchon Eyewear Inc.
The terms and value of the agreement were not disclosed, but Marchon produces eyewear for brands including Lacoste, Nike, Calvin Klein, Ferragamo, Longchamp and Zeiss.
Marchon plans to roll out both sunglasses and optical wear under the Canada Goose name next spring, starting in North America.
Canada Goose says the eyewear will be sold through optical retailers, department stores, Canada Goose shops and its website.
Canada Goose CEO Dani Reiss told The Canadian Press in August that he envisioned his company eventually expanding into eyewear and luggage.
This report by The Canadian Press was first published Sept. 19, 2024.
Almost seven years since news broke of an alleged conspiracy to fix the price of packaged bread across Canada, the saga isn’t over: the Competition Bureau continues to investigate the companies that may have been involved, and two class-action lawsuits continue to work their way through the courts.
Here’s a timeline of key events in the bread price-fixing case.
Oct. 31, 2017: The Competition Bureau says it’s investigating allegations of bread price-fixing and that it was granted search warrants in the case. Several grocers confirm they are co-operating in the probe.
Dec. 19, 2017: Loblaw and George Weston say they participated in an “industry-wide price-fixing arrangement” to raise the price of packaged bread. The companies say they have been co-operating in the Competition Bureau’s investigation since March 2015, when they self-reported to the bureau upon discovering anti-competitive behaviour, and are receiving immunity from prosecution. They announce they are offering $25 gift cards to customers amid the ongoing investigation into alleged bread price-fixing.
Jan. 31, 2018: In court documents, the Competition Bureau says at least $1.50 was added to the price of a loaf of bread between about 2001 and 2016.
Dec. 20, 2019: A class-action lawsuit in a Quebec court against multiple grocers and food companies is certified against a number of companies allegedly involved in bread price-fixing, including Loblaw, George Weston, Metro, Sobeys, Walmart Canada, Canada Bread and Giant Tiger (which have all denied involvement, except for Loblaw and George Weston, which later settled with the plaintiffs).
Dec. 31, 2021: A class-action lawsuit in an Ontario court covering all Canadian residents except those in Quebec who bought packaged bread from a company named in the suit is certified against roughly the same group of companies.
June 21, 2023: Bakery giant Canada Bread Co. is fined $50 million after pleading guilty to four counts of price-fixing under the Competition Act as part of the Competition Bureau’s ongoing investigation.
Oct. 25 2023: Canada Bread files a statement of defence in the Ontario class action denying participating in the alleged conspiracy and saying any anti-competitive behaviour it participated in was at the direction and to the benefit of its then-majority owner Maple Leaf Foods, which is not a defendant in the case (neither is its current owner Grupo Bimbo). Maple Leaf calls Canada Bread’s accusations “baseless.”
Dec. 20, 2023: Metro files new documents in the Ontario class action accusing Loblaw and its parent company George Weston of conspiring to implicate it in the alleged scheme, denying involvement. Sobeys has made a similar claim. The two companies deny the allegations.
July 25, 2024: Loblaw and George Weston say they agreed to pay a combined $500 million to settle both the Ontario and Quebec class-action lawsuits. Loblaw’s share of the settlement includes a $96-million credit for the gift cards it gave out years earlier.
Sept. 12, 2024: Canada Bread files new documents in Ontario court as part of the class action, claiming Maple Leaf used it as a “shield” to avoid liability in the alleged scheme. Maple Leaf was a majority shareholder of Canada Bread until 2014, and the company claims it’s liable for any price-fixing activity. Maple Leaf refutes the claims.
This report by The Canadian Press was first published Sept. 19, 2024.
Companies in this story: (TSX:L, TSX:MFI, TSX:MRU, TSX:EMP.A, TSX:WN)
TORONTO – TD Bank Group, which is mired in a money laundering scandal in the U.S., says chief executive Bharat Masrani will retire next year.
Masrani, who will retire officially on April 10, 2025, says the bank’s, “anti-money laundering challenges,” took place on his watch and he takes full responsibility.
The bank named Raymond Chun, TD’s group head, Canadian personal banking, as his successor.
As part of a transition plan, Chun will become chief operating officer on Nov. 1 before taking over the top job when Masrani steps down at the bank’s annual meeting next year.
TD also announced that Riaz Ahmed, group head, wholesale banking and president and CEO of TD Securities, will retire at the end of January 2025.
TD has taken billions in charges related to ongoing U.S. investigations into the failure of its anti-money laundering program.
This report by The Canadian Press was first published Sept. 19, 2024.
