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Business

Retail Industry Slashed by Covid-19

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5 minute read

How malls and stores across our city are taking measures to flatten the curve

 

Since The City of Calgary declared a state of emergency on Sunday March 15th, almost
every sector has been affected. This order brought immediate closures to all city owned
recreational facilities, the public library and any YMCA facilities including the Repsol
Centre sports complex.

Following this declaration, franchises and stores across our city have seen temporary
closures to combat any further spread of the virus. We can assume all of us are aware
of the major detriment this will have on our economy. Not often is there a communal
thought given to those who have welcomed our money for products or services.

The country wide chain of malls, Cadillac Fairview has reported to reduce their opening
hours and drastically improve cleaning. If we keep in mind that Cadillac Fairview owns
over 70 malls in 9 provinces, safe to say they will be hit hard. This is to say that tenants
are the ones to be hit the hardest.

How many times have you said the word “Social Distancing” in the last few weeks. This
comes to those as tenants or stand alone businesses in our city being directly affected.

Apple reports: “We will be closing all of our retail stores outside of Greater China until
March 27”

The Hudson’s Bay company stated on facebook that they are temporarily closing all
stores nationwide. Also stating “stores will remain closed for two weeks, and reopening
will be assessed at that time. We will continue to serve customers through thebay.com”.

A letter from the CEO of the Canadian Tire Corporation stated: “To encourage social
distancing, we are limiting the hours of operation at certain banners, such as at our
Mark’s and SportChek stores. Please visit their websites, or check with your local store,
for updated hours of operation. At this time, we plan to maintain standard hours at
Canadian Tire stores, allowing us to continue providing the essentials that Canadians
need”

Cineplex Inc. reports “it will be temporarily closing its network of theatres and
location-based entertainment venues across Canada starting March 16, 2020, through
to April 2, 2020”. You can read the full press release here – Press Release.

You may be concerned about what this means for grocery stores. We have all seen
photos and videos of empty shelves across multiple chains, but what are they doing to
drive down the chance of contracting the virus? Check out what Calgary Co-Op is doing
to proactively care for their customers – Calgary Co-Op Covid-19 Measures.

As some may not be aware of what is happening across the globe, one thing that struck
home for St. Patrick’s day. Every bar across the country of Ireland is closed for two
weeks, which has never happened in the history of the country. Those poor souls.

It is clear that there is a trend for other retailers following suit. There is no way to know
how the economy will be hit at this time. Sure to say that those panic buying and
stockpiling toilet paper may be ahead of the curve, but the severity of the issue will
continue to play out in the coming weeks.

A lot of us will be fearful of their own health and safety in a time like this. The best way
to keep yourself up to date on information is to follow updates from the World Health
Organisation. Another trusted source for those curious about where our province lies in
the spectrum of outbreak, Alberta Health Services will be reporting all new findings in
the province. They have created an online screening section of their website for those
who feel that may be under the weather. You can find the self screening application
here – Covid-19 Self Assessment.

 

Click here for more stories from Todayville Calgary.

Business

Debunking the myth of the ‘new economy’

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From Resource Works

Where the money comes from isn’t hard to see – if you look at the facts

In British Columbia, the economy is sometimes discussed through the lens of a “new economy” focused on urbanization, high-tech innovation, and creative industries. However, this perspective frequently overlooks the foundational role that the province’s natural resource industries play in generating the income that fuels public services, infrastructure, and daily life.

The Economic Reality

British Columbia’s economy is highly urbanized, with 85% of the population living in urban areas as of the 2021 Census, concentrated primarily in the Lower Mainland and the Capital Regional District.
These metropolitan regions contribute significantly to economic activity, particularly in population-serving sectors like retail, healthcare, and education. However, much of the province’s income—what we call the “first dollar”—originates in the non-metropolitan resource regions.

Natural resources remain the backbone of British Columbia’s economy. Industries such as forestry, mining, energy, and agriculture generate export revenue that flows into the provincial economy, supporting urban and rural communities alike. These sectors are not only vital for direct employment but also underpin metropolitan economic activities through the export income they generate.

They also pay taxes, fees, royalties, and more to governments, thus supporting public services and programs.

Exports: The Tap Filling the Economic Bathtub

The analogy of a bathtub aptly describes the provincial economy:

  • Exports are the water entering the tub, representing income from goods and services sold outside the province.
  • Imports are the water draining out, as money leaves the province to purchase external goods and services.
  • The population-serving sector circulates water within the tub, but it depends entirely on the level of water maintained by exports.

In British Columbia, international exports have historically played a critical role. In 2022, the province exported $56 billion worth of goods internationally, led by forestry products, energy, and minerals. While metropolitan areas may handle the logistics and administration of these exports, the resources themselves—and the wealth they generate—are predominantly extracted and processed in rural and resource-rich regions.

Metropolitan Contributions and Limitations

Although metropolitan regions like Vancouver and Victoria are often seen as economic powerhouses, they are not self-sustaining engines of growth. These cities rely heavily on income generated by resource exports, which enable the public services and infrastructure that support urban living. Without the wealth generated in resource regions, the urban economy would struggle to maintain its standard of living.

For instance, while tech and creative industries are growing in prominence, they remain a smaller fraction of the provincial economy compared to traditional resource industries. The resource sectors accounted for nearly 9% of provincial GDP in 2022, while the tech sector contributed approximately 7%.

Moreover, resource exports are critical for maintaining a positive trade balance, ensuring that the “economic bathtub” remains full.

A Call for Balanced Economic Policy

Policymakers and urban leaders must recognize the disproportionate contribution of British Columbia’s resource regions to the provincial economy. While urban areas drive innovation and service-based activities, these rely on the income generated by resource exports. Efforts to increase taxation or regulatory burdens on resource industries risk undermining the very foundation of provincial prosperity.

Furthermore, metropolitan regions should actively support resource-based industries through partnerships, infrastructure development, and advocacy. A balanced economic strategy—rooted in both urban and resource region contributions—is essential to ensure long-term sustainability and equitable growth across British Columbia.

At least B.C. Premier David Eby has begun to promise that “a new responsible, sustainable development of natural resources will be a core focus of our government,” and has told resource leaders that “Our government will work with you to eliminate unnecessary red tape and bureaucratic processes.” Those leaders await the results.

Conclusion

British Columbia’s prosperity is deeply interconnected, with urban centres and resource regions playing complementary roles. However, the evidence is clear: the resource sectors, particularly in the northern half of the province, remain the primary engines of economic growth. Acknowledging and supporting these industries is not only fair but also critical to sustaining the provincial economy and the public services that benefit all British Columbians.

Sources:

  1. Statistics Canada: Census 2021 Population and Dwelling Counts.
  2. BC Stats: Economic Accounts and Export Data (2022).
  3. Natural Resources Canada: Forestry, Mining, and Energy Sector Reports.
  4. Trade Data Online: Government of Canada Export and Import Statistics.
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Business

Trump puts all federal DEI staff on paid leave

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From LifeSiteNews

By Emily Mangiaracina

Trump’s shuttering of federal DEI programs is in keeping with his promise to ‘forge a society that is colorblind and merit-based.’

President Donald Trump has ordered all federal diversity, equity and inclusion (DEI) staff to be placed on paid leave by Wednesday evening, in accordance with his executive order signed on Monday.

The president pledged during his inaugural address to “forge a society that is colorblind and merit-based,” which is the impetus behind his efforts to abolish DEI programs that prioritize race and ethnicity above merit when hiring workers.

Trump’s Executive Order on Ending Radical and Wasteful Government DEI Programs and Preferencing stated, “Americans deserve a government committed to serving every person with equal dignity and respect, and to expending precious taxpayer resources only on making America great.”

“President Trump campaigned on ending the scourge of DEI from our federal government and returning America to a merit based society where people are hired based on their skills, not for the color of their skin,” White House press secretary Karoline Leavitt said in a statement Tuesday night. “This is another win for Americans of all races, religions, and creeds. Promises made, promises kept.”

The Office of Personnel Management issued a memo to the leaders of federal departments instructing them to inform employees by 5 p.m. ET on Wednesday that they will be placed on paid administrative leave as all DEI offices and programs prepare to shut down, according to NBC News.

It is unclear how many employees will be affected by the erasure of federal DEI programs.

Diversity training has “exploded” in the federal government since Joe Biden took office in 2020, the Beacon noted, with all federal agencies having mandated a form of DEI training before he left office.

DEI initiatives have long been widely denounced by conservatives and moderates as divisive, but they have been coming under increasing fire for undermining the competence and most basic functioning of public institutions and private corporations, even putting lives at risk.

For example, some commentators have blamed growing – and at times catastrophic and fatal – airplane safety failures in part on DEI hires and policies. Upon the revelation that a doctor at Duke Medical School was “abandoning… all sort(s) of metrics” in hiring surgeons in order to implement DEI practice, Elon Musk warned that “people will die” because of DEI.

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