Keith Davey, Pierre Trudeau’s campaign manager, also known as “The Rainmaker,” used to say that every election required a move to the “radical middle.” By that he meant a political party shifted to the left to capture votes but then turned back to the right to govern. That radical middle was where Erin O’Toole was headed until he got rudely interrupted by reality. A week ago, according to the Nanos poll, he was a “political freight train” in the lead ahead of Justin Trudeau. Now, O’Toole is beginning to look more like a train wreck. After all, can a Conservative...
This is the first federal election I can remember when coverage of leaders and issues is often well down in the TV newscasts. There are no dulcet tones of politicians until after Afghanistan, forest fires, Haiti and other catastrophes. This subterfuge may be regarded as helpful by the Liberals who have been hurt by the unpopularity of the early election call, the resurgence of Covid and the so-so performance of Justin Trudeau. By contrast, the chipper appearances and fully fleshed-out campaign commitments of Conservative leader Erin O’Toole have surprised everybody. But what if, as appears likely, the outcome is another...
The first book I ever wrote was called The Moneyspinners: An Intimate Portrait of the Men Who Run Canada’s Banks. Published in 1983, it had chapters on each of the Big Five Bank Chairmen and Chief Executive Officers: Rowland Frazee of the Royal, Bill Mulholland of Bank of Montreal, Richard Thomson at TD, CIBC’s Russell Harrison and Cedric Ritchie of the Bank of Nova Scotia. Writing about businesspeople was so novel at the time that there were individuals who were shocked to find themselves quoted, even though I came to their offices, explained what I was doing and turned on...
If you were sitting in an audience that Bill Davis was addressing, you knew that no matter his topic, you were in for some fun first. As a native son of Brampton, Ont., there would be more than a few complimentary remarks about his home town, what a great place it was to live and how investors were always welcome. Next, Davis – who spoke with the speed and agility of an auctioneer – would begin to pick out people that he knew and take a few pokes at the expense of each in turn. As Davis worked his way...
During the last two years, the average price for a detached house in Canada has risen 25 percent, even more in Toronto. As a result, many hopeful first-time home buyers have been priced out of the market. This go-go period is all so reminiscent of the run-up in the 1980s that was followed by a 50 percent drop in values during the recession of the 1990s. It took until the early 2000s for values to get back to where they had been. I’m not predicting a repeat performance. This economy is stronger … at the moment. But I do think...
For Joyce McKeough, politics was a precious part of her life. Her father, David Walker, was a member of the House of Commons, a cabinet minister in the John Diefenbaker government, and later, a senator. Her husband, Darcy, served in the Ontario Legislature for fifteen years and was Treasurer in the Bill Davis government. Educated at Branksome Hall and Trinity College at the University of Toronto, Joyce had been presented at court to Queen Elizabeth and Prince Philip and came away with a vivid remembrance of “the devastating eyes of the Prince.” Joyce was working at an advertising agency, Ronalds-Reynolds,...
At first glance, Google appears to be doing what it should have done long ago, making global product and licensing arrangements that will pay billions of dollars for reproducing other peoples’ articles. Until now, the originating organization received no payment for what clearly has been nothing less than copyright infringement. Around the world Google has signed with the Murdoch-owned News Corp. as well as media organizations in Germany and Australia. This week, Google announced deals with eight Canadian participants, including the Winnipeg Free Press, the Globe and Mail and Métro Média. That’s only a fraction of the organizations that exist,...
We all know about type A personalities and their driven behaviour, but some senior business leaders have taken their private passions to new heights. Literally. Next month Amazon’s Jeff Bezos will take a ride to space in a reusable rocket launched by Blue Origin, his space company. This is not just any ride, this is the maiden flight with passengers. Coming along with him will be his brother, an unnamed individual who paid US$30 million for the privilege, as well as an astronaut yet to be named. In fact, the rocket, called the New Shepard, is named after Alan Shepard,...
For the past several days I’ve been working my way through three large cartons of family memorabilia, some of which I have never seen before. My mother must have been the initiator. Among the souvenirs is her mother’s teaching certificate from 1910. Another sign my mother was the original keeper is that the boxes contain every letter I ever wrote to my parents beginning in 1963 from Western, through my first job in Toronto, time in Ottawa and up to 1980 when I was at Maclean’s. That was the year she died. My father must have held on to everything, but...
The saga of Quebec language and powers seems to have been debated for most of my adult life. Quebec has always been on the verge of eruption or separation. Following the 1976 election of Rene Levesque, Anglophone Quebecers no longer felt they had a home. Companies left the province and relocated all or part of their head offices elsewhere. The value of the C$ skidded from US$1.03 to US$0.70 during the next decade. Referenda in 1980 and 1995 tested the appetite for separation. During the 1995 vote, many Canadians rallied in Montreal to keep Quebec in Confederation. The outcome was a narrow rejection of sovereignty by 50.6%...
A few weeks ago I reported on the sights and sounds of spring at the farm. As Bachman-Turner Overdrive sang, “B-b-b-baby you ain’t seen n-n-nothin’ yet.” During the past few days, we’ve been overwhelmed by the next phase of this wondrous season of the year. Plants in the garden continue to sprout, the trilliums provide a carpet in the woods, and leaves on the trees are unfolding in so many shades of green they must have come from a painter’s magic palette. Among the more interesting new avian arrivals is a pair of eastern bluebirds that have taken up residence...
I’ve been a Blue Jays season subscriber, along with a small syndicate of others, sharing a pair of tickets since the team’s founding in 1977. Of all the players through all the years whose professional career has included Toronto, my all-time favourite is Roberto Alomar. At second base he had no equal. His range and ability to get to a ball hit anywhere near him was astounding. A lifetime .300 hitter, he was an All-Star for a dozen years, and a driving force when the Jays twice won the World Series. So I was saddened by the news that he...
Regular readers know how much I enjoy a well-written memoir by a business leader. Such a book is “Lessons Learned on Bay Street: The Sale Begins When the Customer Says No,” by Donald K. Johnson. Johnson’s distinguished career as an investment banker started in 1963 at Burns Bros. and Denton and continued through various mergers until he became president of Burns Fry and then vice-chair of BMO Nesbitt Burns. Now eighty-five, he’s as active as ever. Johnson’s grandparents, on both sides of the family, moved from Iceland to Manitoba in the 1880s as did many others after a volcanic eruption....
I’ve just completed an extensive project, Volume Five of the history of CIBC, covering the years 1973-1999. Four other authors wrote the previous four volumes, one of whom was Arnold Edinborough, editor and publisher of Saturday Night, so I am in good company. Research for the commissioned book included lengthy periods poring over the bank’s archives as well as conducting 150 interviews with people who worked at the bank and others who had relationships with the institution during that era. The book will be published by ECW Press later this year. This is my twentieth book in the nearly forty...
To quote Geoffrey Chaucer, “Whan that Aprill with his shoures soote (When April with its sweet-smelling showers) The droghte of March hath perced to the roote.” (Has pierced the drought of March to the root).” Beginning at 4 a.m. coyotes bay at the rising half moon that lights up the early morning sky. Once dawn has fully arrived, we notice more activity in the pond. The pair of mallards that were there yesterday has been joined by two pairs of hooded mergansers, preening and diving beneath the water for breakfast. Compared with the mallards, the mergansers appear tiny, but both...
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