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Tim Hortons parent RBI sees Q2 profit lift despite ‘softer consumer environment’

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TORONTO – The owner of Canada’s most recognizable fast-food chain managed to grow its profit in its most recent quarter, even as a pullback in consumer spending that’s long been roiling retailers cropped up in the quick-serve market.

The chief executive of Restaurant Brands International Inc. said his company’s brands — Tim Hortons, Burger King, Popeye’s Louisiana Kitchen and Firehouse Subs — have been “navigating a softer consumer environment.”

“There’s no denying that the environment has been tough,” Joshua Kobza told analysts on a Thursday earnings call.

That sentiment has proliferated the fast-food market in recent months with brands as big as McDonald’s conceding the effects of high interest and mortgage rates would see it adopt a “street-fighting mentality to win.” Last week, the Golden Arches’ same-store sales fell for the first time since 2020.

Despite the intense competition and headwinds, RBI managed to come out on top in its second quarter, bolstering not just its profitability, but also its sales.

The Toronto-based company, which keeps its books in U.S. dollars, revealed Thursday that its second-quarter net income totalled US$399 million or 88 cents US per diluted share in its latest quarter.

The result was up from net income of US$351 million or 77 cents US per diluted share a year earlier.

Revenue for the quarter ended June 30 reached US$2.08 billion, up from US$1.78 billion in the same quarter last year.

Consolidated comparable sales rose 1.9 per cent, led by strength at Tim Hortons.

“We clearly saw softer sales than expected across our businesses in Q2, and it’s not yet clear when we’ll see the category strengthen,” said executive chairman Patrick Doyle on the same call as Kobza.

While Doyle conceded the sales “weren’t what we wanted,” he said “we did pretty well on a relative basis.”

He and Kobza attributed some of the performance to the company leaning on value messaging and offerings.

At Tim Hortons Canada, for example, the chain has been advertising $3 breakfast sandwiches with a coffee purchase — a deal Kobza said he had taken advantage of Thursday morning.

Burger King has similarly been putting the spotlight on its $5 “Your Way” meals.

“I think we’ve been really disciplined in our everyday pricing, which has been paying really good dividends,” Kobza said.

Rivals, however, have used similar tactics. In Canada, Wendy’s has been advertising two for $4 breakfast combos and Starbucks has been offering 25 per cent off iced drinks on summer Fridays.

McDonald’s, meanwhile, dropped its starting price for cups of coffee to $1 in Canada and over the summer offers ice cream cones for the same price.

Asked about its pricing strategy and rivals, Kobza said “Tims is doing a great job outperforming the market, even in a difficult market.”

“That’s been the case for a while now,” he continued, while noting inflation has softened in Canada but there’s still higher unemployment compared with the U.S.

Tims, in particular, has been strong because it’s long had a leading share of Canada’s brewed coffee and breakfast sandwich market, executives on the call said.

The brand has spent the last year obsessed with expanding that hold even further. In recent months, it launched flatbread pizzas nationally and rolled out new wraps, bowls and sparkling fruit drinks in a bid to gobble up more afternoon and evening sales.

Despite recent successes with the expansion and in navigating headwinds, Doyle suggested RBI isn’t keen to rest on its laurels.

“We know (consumer) purchase habits are affected by a lot of macro factors and it’s our job to adapt, but clearly we have opportunities to position ourselves to perform even better in all environments and take share no matter the category conditions,” he said.

“We need to continue to improve operations across the board. This is something we can never take for granted even at a brand like Tim’s, which is already executing at a stunning level.”

This report by The Canadian Press was first published Aug. 8, 2024.

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The Doctors We Need: Imagining a New Path for Physician Recruitment, Training & Support By Dr. Anthony Sanfilippo

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The Doctors We Need
Imagining a New Path for Physician
Recruitment, Training, and Support

Toronto, On — “The Doctors We Need” is available for pre-sale.  Release date is November 26th. Dr. Anthony Sanfilippo is a highly respected cardiologist, educational leader, and former Associate Dean of Medical Education at Queen’s University, where he holds a teaching position as a professor of Medicine and Cardiology. Dr. Sanfilippo has been practicing and teaching medicine for five decades. His research skills are praised throughout the country.  After receiving his Royal fellowship, Dr. Sanfilippo did a post-graduate fellowship at Harvard University and Massachusetts General Hospital before returning to Queen’s.  For the past sixteen years Dr. Sanfilippo guided the prestigious medical school as it adapted to dramatically expanding changes, ballooning medical knowledge and societal needs, new student expectations, and intense financial constraints in healthcare—plus a pandemic.  All the while an alarming trend was brewing, one that Dr. Sanfilippo knew was only going to get worse. The medical scholar put his focus, dedication, and expertise to work, and a new journey began. “The Doctors We Need” lays out a plan that defines opportunities to better align medical education with the needs of contemporary society.  Dr. Sanfilippo’s mandate was to find a practical path to accessible healthcare for all Canadians.

“The Doctors We Need” is a call to action.  It’s an exposé on the harsh realities Canadians face every day.  Dr. Sanfilippo writes with elegance, wit, and empathy, while bringing home the seriousness of the healthcare pressures facing Canada.  He illuminates how our legacy for recruiting, educating, and promoting hyper-specialization in medicine has failed to adapt to the basic healthcare needs Canadians should expect.  Dr. Sanfilippo takes readers through compelling, hard-lived, real-life accounts, illustrating the impact of outdated selection and training methods on doctor shortages and why current approaches fail to produce doctors with the diverse skills needed today, again…. failing Canadians.  “The Doctors We Need” is a groundbreaking book that doesn’t just diagnose the problem, it prescribes solutions that alter incentives for decision-makers and embraces a new path for aspiring family physicians. Dr. Sanfilippo proposes innovative reforms in three critical areas that should be looked at as a warning sign of what’s to come if changes to our healthcare system are not made. Dr. Sanfilippo proposes innovative reforms in doctor selection, medical training, and education in the healthcare workplace. In a nation proud of its pledge to universal healthcare—despite massive investments in medical education and institutions—the startling reality is … over six million Canadians lack a family doctor.  This is completely unacceptable but it is our reality.  “The Doctors We Need” challenges Canadians, medical schools, and our political leaders to endorse urgent, disruptive change in the face of clear and present needs. …. “We need to think differently.”

The Doctors We Need offers a practical roadmap for ensuring every Canadian has access to quality primary care. Essential reading for anyone concerned about the future of healthcare in Canada, this book provides the blueprint for transforming our medical system to truly serve all Canadians.

“The Doctors We Need” by Dr. Tony Sanfilippo (published by Sutherland House Experts) is available now for pre-sale.  Release date November 26, 2024.

https://www.amazon.com/Doctors-Need-Imagining-Physician-Recruitment/dp/1738396460

Media Inquiries:

Sasha Stoltz Publicity:

Sasha Stoltz | Sasha@sashastoltzpublicity.com | 416.579.4804

https://www.sashastoltzpublicity.com

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BC United sources leak ‘extremism’ file on B.C. Conservatives’ executive Isidorou

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VICTORIA – An opposition research file on the “extremism” of the Conservative Party of British Columbia‘s executive director has been leaked by BC United sources, less than two weeks after the parties’ leaders announced a deal to work together in the fall provincial election.

The document depicts Angelo Isidorou’s involvement in the People’s Party of Canada as a founding member and organizer, his “admiration” of right-wing figures including Donald Trump, and includes what it calls a “white power” photo of Isidorou wearing a Make America Great Again cap while making a hand gesture it says is associated with the alt-right movement.

The seven-page report titled “Angelo Isidorou’s Extremism” was intended for use in the Oct. 19 election, but was compiled before BC United Leader Kevin Falcon suspended his party’s campaign last month and instead urged support for the B.C. Conservatives to prevent vote splitting that would benefit the New Democrats.

B.C. Conservative Leader John Rustad said in an interview Monday that he supported the party’s 27-year-old executive director, calling him a “capable individual.”

He said he was more concerned with defeating Premier David Eby’s NDP than the claims about Isidorou.

“So, from my perspective Angelo is a capable individual, and what I am focused on right now is making sure we bring an end to David Eby and these destructive policies and their approach to governing B.C.,” said Rustad.

“I’m not worried about people working behind the scenes. The NDP and their affiliates are going to do everything they can to distract from the damage they’ve done to B.C.”

The file about Isidorou was provided to The Canadian Press by BC United sources on condition of anonymity.

Isidorou, who described himself as a Canadian conservative who abhors all forms of extremism, said in a statement Monday he was being a “dumb” first-year university student when he wore the MAGA hat at the opening of the former Trump International Hotel and Tower in Vancouver seven years ago.

“In my first year of university, which was 2017, I attended a protest alongside other students,” he said. “At this protest, we wore MAGA hats to irritate some people. I was being dumb and I think a lot of people have moments from first-year university they aren’t proud of.”

He said the hand gesture was “innocuous” and he “utterly” rejected it having a meaning other than “OK.”

Isidorou said he had since been extremely critical of former U.S. president Trump, especially after he challenged the results of the 2020 U.S. election.

Isidorou said he joined the People’s Party of Canada in 2018 but resigned in 2019 after publicly stating his concerns about racism and extremism within the party.

“I witnessed it and I was subject to death threats from the far right because of it,” said Isidorou.

In an almost 2,000-word explanation of his resignation from the People’s Party as a member and “provincial organizer,” posted on Medium in March 2019, Isidorou focused mostly on differences with newcomers to the party, some of whom he said had a “radical agenda.”

He wrote: “I love every single policy in this party, and I love the ethos that Maxime (Bernier) espouses as a leader, but I’m saddened to say that the party organization itself is completely compromised.”

Rustad said Isidorou was already part of the B.C. Conservatives when he was acclaimed leader in March 2023.

He said other prominent political figures had been photographed making the same gesture as Isidorou, but had not come under pressure to explain themselves.

“It’s interesting when you see that Barack Obama and Justin Trudeau and Kamala Harris and so many others made the same symbol, but nobody asked them that question,” he said.

The Conservative Party of B.C. provided photos of all three making similar hand gestures, but did not explain the context of the situations.

The BC United research document also included screenshots of Isidorou’s social media activity, including a post saying, “Buckle up, it’s riot season,” in connection to Black Lives Matter protests.

It also shared a post from Isidorou about the 2023 election success of anti-immigration politician Geert Wilders in the Netherlands, saying: “First it was Argentina — today it’s the Netherlands. Tomorrow it will be Canada.”

Another focus of the BC United document was failed defamation lawsuit brought by Isidorou and others against former Vancouver Mayor Kennedy Stewart, who was ultimately awarded more than $100,000 in legal costs.

Isidorou and other members of the Non-Partisan Association, a Vancouver municipal party, had sued Stewart in 2021 for citing articles about Isidorou’s behaviour at the Trump Tower opening as evidence of “open support for hate groups” among the NPA.

Isidorou later resigned from the NPA.

The BC United document cited Isidorou’s “admiration of Lauren Southern,” a Canadian right-wing political activist and commentator, who in 2015 ran as a Libertarian candidate in the B.C. riding of Langley-Aldergrove in the federal election.

Southern was among the cast of Tenet Media, a Canadian company that U.S. officials alleged last week to have received hundreds of thousands of dollars in a secret propaganda scheme that purportedly used social media personalities to distribute content with Russian government messaging.

Southern said on social media platform X on Sunday that although the accusations against Tenet were serious, she believed she had “done nothing wrong.”

Politics in B.C. has undergone a massive shift since Falcon’s bombshell announcement on Aug. 28 that the Official Opposition was ending its campaign and would instead throw support behind Rustad’s Conservatives.

The future of BC United has been in doubt with some of its MLAs now running as B.C. Conservative candidates and others as Independents.

Three BC United MLAs — Peter Milobar, Trevor Halford and Ian Paton — said they would seek re-election as B.C. Conservatives, while their former party colleagues Mike Bernier, Dan Davies and Tom Shypitka will look to be re-elected as Independents.

BC United said last week it planned to run some candidates in the fall election as a measure to keep the party name alive for future elections.

This report by The Canadian Press was first published Sept. 9, 2024.

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Police union calls for ‘fulsome public safety plan’ in B.C. ahead of provincial vote

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VICTORIA – The national union for RCMP officers is seeking to make public safety and bail reform a British Columbia election issue after repeat offenders were arrested for violent crimes, including a pair of gruesome attacks in downtown Vancouver last week.

The National Police Federation says it has launched a “pre-election program” calling on the winner of the Oct. 19 election to deliver a “fulsome public safety plan.”

It describes the current bail system as “catch and release” and says there’s a lack of data-informed support and monitoring of repeat offenders, resulting in public safety being compromised.

Thirty-four-year-old Brendan McBride was arrested last week over what police are calling two stranger attacks in downtown Vancouver, resulting in the death of 70-year-old Francis Laporte, while another victim’s hand was cut off.

Court documents show that at the time of the attacks, McBride was on probation over an assault in White Rock, B.C., last September, and the man had been sentenced to 12 months of probation before that in July 2022 for a separate assault in North Vancouver.

National Police Federation vice-president Rob Farrer says the timing of the organization’s call ahead of the election was somewhat coincidental, since it was more of a response to recent cases such as the Vancouver stranger attacks.

“It’s not about the election per se,” Farrer said. “We’re trying to make sure that we keep on top of this. We’re hearing from our officers, they’re seeing it every day and British Columbians and Canadians generally are seeing this as a major issue.”

He also said that while provincial governments tend to point to bail reform being a federal issue, it doesn’t absolve the provinces, including B.C., of not doing enough.

“We’re asking that whoever makes up the new government really be prepared to deliver a fulsome public safety plan, including what the bail-reform initiatives would look like — and not simply saying it’s a federal responsibility.

“Because it is not simply a federal responsibility. It’s a joint responsibility for both governments.”

Many of the initiatives called for by the federation are echoed in a July 2023 report released by the group about Canadian bail reform.

In the report, the federation called for the provinces to improve data collection and sharing on criminal cases across Canada, which would give judges a more complete picture of a person’s criminal history when they make bail decisions.

Farrer said more investment in and deployment of bail-enforcement monitoring technology should also be a part of a comprehensive answer to repeat offenders in society, as well as standardized training qualifications for justices presiding over bail hearings.

“It’s not just us that’s saying it,” Farrer said of the federation’s call for reform, noting an poll taken in August in B.C. commissioned by the group showed 82 per cent of those surveyed were concern about crime by repeat offenders.

“I think that’s a very, very strong majority of people across the province … who think that the current systems are not meeting their needs. And as a result, we’re seeing these incidents like the one in Vancouver.”

The National Police Federation is Canada’s largest police union that represents about 20,000 RCMP members both inside and outside the country.

This report by The Canadian Press was first published Sept. 9, 2024.

The Canadian Press. All rights reserved.

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