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Dogs, fries and fortunes on the rise
For Jeff Supple, 2020's been one hell of a year.
The pandemic killed his business and he and his wife separated. But now he's part-owner of a funky fish and chips place in a former Bedford Highway motel that jams home cut fries, calamari and fried bologna onto one menu.
Spoiler alert: Rudy and Olive (the restaurant's namesakes) are Jeff and business partner Rochelle Tucker's dogs.
What's Clearwater in Mi'kmaq?
Talk about a turnabout.
In Nova Scotia, Mi'kmaw communities have spent years trying exercise their court-confirmed right to fish for a moderate livelihood and to sell their catch. Membertou First Nation bought a pair of offshore lobster licences from Clearwater Seafoods this year for $25 million.
This week, half a dozen bands bought half the company, pairing up on the buyout with Premium Brands Holdings of British Columbia. Part of the $1-billion deal gives the First Nations all of Clearwater's Canadian fishing licences and puts them on a clear path to prosperity.
By the way, the answer to the headline is Wasapa'q.
High Liner looks to grow not buy
High Liner Foods retired their TV commercial captain years ago, but the brand lives on with a family of other labels like Mirabel and Fisher Boy in Canada, the US and Mexico. Those stood the company in good stead through the pandemic as restaurants closed, but grocery store sales soared.
With competitors hurting, the temptation to look for mergers and acquisitions is there, but president Rod Hepponstall told SaltWire's Roger Taylor that High Liner is focusing on launching three new branded products and building on its strong third quarter.
Odds get longer at Come By Chance
Oil waste recycler Origin International got the thumbs down this week on its offer for the Come By Chance oil refinery. We got a hint that things weren't going well when Origin said publicly turning the site into a tank farm to store and distribute imported oil was a bad idea after the owner registered a company name that put that option on the table.
Still, Newfoundland and Labrador's Industry, Tech and Energy Minister Andrew Parsons said Thursday there's still room to make a deal and urged everyone to stay off Twitter and do the talking in private.
No free ride for airlines
Ottawa's ex-astronaut Transport Minister Marc Garneau is ready to bail out the airline industry, but with a few strings attached. Companies getting the bailout must give cash refunds to passengers who lost trips, cap executive bonuses and shareholder dividends and minimize job losses. There will also be an annual environmental report card requirement.
Airline passenger advocates like Gabor Lukacs still have a few questions, like whether those who took coupons can swap for cash and whether Ottawa can make foreign airlines give refunds.
SHOUTOUT: To the guy with the Clearwater crystal ball
Here's a letter to the editor sent a week ago by Michael Poulton of Halifax: "Don’t picket Clearwater, as activist group Solidarity Kjipuktuk/Halifax did last week. Buy it."
Poulton suggested First Nations form a consortium and make a bid. "Ownership income and future jobs would help meet “moderate livelihood” objectives and keep the company and its headquarters in Nova Scotia."
Note to Michael: If you have any stock picks, send them my way.
PERSPECTIVES
MILLS: How to dig ourselves out of the half-working trap
Just 49 of 100 working age Newfoundlanders and Labradorians have jobs. It's not much better in Nova Scotia (56 per cent) or P.E.I. (57 per cent). Those sorts of numbers spell lower economic activity and slower growth and Don Mills says they should be prompting policymakers to increase immigration, make it easier for women to work and entice boomers to work longer.
VIBERT: Be good or we'll all be sent to our rooms
You don't have to listen to the health warnings. You might even say, like that noted golfer to the south of us, that COVID's a hoax. But as Jim Vibert writes, if we get slack and let the virus come back, we will pay a price—in lockdowns, lost jobs, obituaries and bankruptcy notices.
APEC: Target pandemic support for those who need it most
COVID-19 struck the old in Atlantic Canada, but its economic fallout was most keenly felt by the young, women, the working poor and First Nations. APEC's Patrick Brannon says under-25s are only 13 per cent of the region's workforce but account for 30 per cent of the job losses during the pandemic. And First Nations lost 40 per cent of their earned income when gaming, restaurants and tourism operations shut.
That's the wrap! Back next Friday.
Until then, stay safe and thank a newcomer. They'll be buying our boomer houses and paying into Canada Pension so it'll be there for us to collect.
Brian Ward is SaltWire Network's managing editor for business.
