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December 2008

January 24, 2022

Starbucks to serve beer and wine at some U.S. stores

Let’s brainstorm together: if there is one place on earth where people linger too long, where is it?

300px-Starbucks_Corporation_Logo_2011_svgStarbucks!

Indeed, there are few social meeting spots as cliché as the coffee chain, yet still it persists, Starbucks being the  place you want to be if your desire is to be seen in public typing on your laptop, studying for an exam or wearing a cashmere scarf with glasses absent prescription frames.

Business-wise, having people spend incredible stretches of time in your outlets is a big money maker for Starbucks, though in the U.S. the franchise has found a way to lure customers in for even longer.

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December 29, 2021

It’s tough being single

By Gordon Powers, Sympatico / MSN Finance

It’s tough being single … at least when it comes to money. Most financial plans tend to centre on milestones that have a lot more to do with couples than singles: Get married. Merge your financial lives. Buy a house. Have a child. Buy some insurance. Start saving for college — it’s a pretty traditional pattern.

Expect that today people are marrying much later or just aren't marrying at all — to say nothing of all those relationships, same-sex or otherwise, that fall somewhere in between.

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December 24, 2021

Things are going to be different next year

By Gordon Powers, Sympatico / MSN Finance

Even the best of us make poor money choices and sabotage our financial future as a result. Sure, it’s not easy to change. But the important thing is to do something, starting right after the holidays.

For example, are you putting off saving for retirement because the "deadline" seems so far away? Or are steering clear of addressing your unwieldy debt load because it's so intimidating? Don’t. Instead, ask yourself where you want to be in five years. Then try these simple steps...

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December 22, 2021

Consumer confidence hits a record low

By Deirdre McMurdy, Sympatico / MSN Finance

No surprise that the latest measures show consumer confidence in Canada is at the lowest ebb since the recession of 1981-82. According to the Conference Board of Canada, we feel that we are now worse off than we were six months ago. And we expect to be even worse off six months from now.

People cite uncertainty about their employment prospects, which feeds directly into their ability to manage their current debt load and their willingness to spend a nickel that's not necessary.

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December 21, 2021

Turn and face the future

By Gordon Powers, Sympatico / MSN Finance

Interesting article about what makes investors tick from MorningstarAdvisor , a U.S. publication that offers practice management and business building advice to financial advisors.

For months now, people have been abandoning stocks in a kind of slow-motion crash that reveals growing apprehension about what is likely to be a long and deep recession. In short, they're running scared.

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December 19, 2021

Giving credit where it's due - and where it's not

By Deirdre McMurdy, Sympatico / MSN Finance

In keeping with the tone of the times, U.S. regulators have introduced consumer-friendly new rules for credit card issuers: as of July 2010, issuers can only raise interest rates on new cards and future purchases, but can't jack up the charges on current balances. Furthermore, card holders will get 45 days notice before any changes are made to any of the terms on an account.

Not surprisingly, consumer advocates are now urging the introduction of similar rules for Canada - including one that would compel card issuers to pass along interest rate decreases in a timely way.

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December 18, 2021

From denial to acceptance: the story of a budget

By Deirdre McMurdy, Sympatico / MSN Finance

It's always fascinating to watch the elaborate process of a government shifting from denial to acceptance. Instead of a simple, "Oops, we goofed," there's always lots of chin-stroking, earnest pronouncement and, this time out, a desire to spread the blame by getting collegial and consultative all of a sudden.

Just weeks after saying there wasn't an economic crisis and that there would be no deficit, the Conservative government is now admitting what we all knew already: Canada is looking at deficits for at least the next four years and most likely this year too - despite the forecast of a $2.3 billion surplus.

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Banking on goodwill

By Deirdre McMurdy, Sympatico / MSN Finance

One of the biggest challenges for business leaders these days is to stay engaged and closely attuned to what's going on outside their immediate circle. It's human instinct, after all, to turn inward during times of trouble and to focus on the urgent matters at hand.

The perils of succumbing to that, however, are splashed all over the front page: chartered banks, which have no shortage of their own concerns, are coming under fire for being self-absorbed. Given the potentially steep cost of grassroots backlash against them, it might be a good idea for the bank chairs to listen up.

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December 17, 2021

An Apple a day doesn't keep rumour away

By Deirdre McMurdy, Sympatico / MSN Finance

How much is a human life worth? Well, if you're Steve Jobs you're apparently worth about $20 billion in the market capitalization of the company you run.

With today's new that the founding CEO of Apple will not make his annual speech at the upcoming MacWorld event, persistent rumours about Mr. Jobs' health have re-surfaced. Apple's stock was down about five per cent even before the rumours began swirling again when someone noticed that he wasn't a confirmed speaker on the agenda.

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News you can no longer afford to ignore

By Deirdre McMurdy, Sympatico / MSN Finance

Time was we could all afford to yawn or change the topic when we heard such news as the federal finance minister is meeting with his provincial counterparts in Saskatoon.

The economy being what it is, however, we no longer have the luxury of plugging our ears and humming: these are pre-budget consultations which have a direct and immediate bearing on our respective bottom lines - not to mention the political and economic consequences that hang in the balance.

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December 16, 2021

A Facebook friend you may not want?

By Deirdre McMurdy, Sympatico / MSN Finance

Trust the Aussies to set a precedent as new adaptors: an Australian court has ruled that it is acceptable to use social media - specifically, in this case, Facebook - to serve legal notice.

This is a move that's going to be tracked in quite a few jurisdictions because to date, there's been considerable ambivalence about how to treat this newfangled technology. Many companies and most levels of government in Canada have prohibited or strictly limited access in the workplace. The underlying belief is that employees will spend all day poking each other instead of working and productivity will suffer.

That conviction, however, can come at a cost. Social media are an important way to keep in touch with what others are saying, doing, thinking. It's an important, if non-traditional, window into emerging trends and the collective unconscious.

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Gordon PowersGordon Powers

A long-time fund company executive, Gordon Powers now heads up the Affinity Group, a financial services consulting firm. Gordon was a personal finance columnist for the Globe & Mail for many years, has taught retirement planning...

Jason BucklandJason Buckland

The modern-day MC Hammer of money, Jason can often be seen spending cash that isn’t his with the efficiency of a Wilt Chamberlain first date. After cutting his teeth as a reporter for the Toronto Sun, he joined the MSN Money team with...