1026 replies to this topic

[Bingo]

It's a small but increasing trend — businesses opting not to accept cash. 

"We haven't heard of it a ton, it's not happening a lot, but it's certainly happening," said Brynn Winegard, a retail and marketing expert.

"I've heard of it happening in boutiques in malls, as an example, or independent retailers," she says.

But as Canadians move toward digital-only transactions, there are some concerns to be aware of.

Scott Hannah, the president of the Credit Counselling Society, says budgeting seems to be more difficult without paper money to guide your spending: with cash, once it's gone, it's gone.

Privacy is another potential issue: if all your purchases are made through a card or online, they can all be tracked. 

"There's an awful lot of information that's going around in terms of what we buy and how we buy it," said Hannah.

http://www.cbc.ca/ne...-cash-1.4428655

[rjag]

^ Yup, all it will take is one major incident like a wide area power outage for folks to appreciate having some cash on hand. (thanksgiving 2008 for example)

[spanky123]

Word on the street is that Genologics is shutting down. Don't know how many people are left but at one point they had close to 100 tech workers employed at the tech park. 

[sdwright.vic]

^ Yup, all it will take is one major incident like a wide area power outage for folks to appreciate having some cash on hand. (thanksgiving 2008 for example)

I was a supervisor at the James Bay Thrifty Foods then. We closed the doors when the power went out, so cash would of done you no good.

[VicHockeyFan]

A University of British Columbia student's research paper has revealed that for some grocers, penny rounding can be lucrative.

 

 

She then made a discovery: a typical grocery store would earn an additional $157 of revenue from rounding each year.

 

 

http://www.cbc.ca/ne...4440481?cmp=rss

 

Now, ignoring that most if not the overwhelming vast majority of people do not buy one item at a time at the grocery store...

 

WTF is this story even making the news?

Edited by VicHockeyFan, 10 December 2017 - 06:59 PM.

[jonny]

That sounds like an absolutely horrible research paper. I get that a lot of research is boring, but c'mon...

[spanky123]

 

 

 

 

http://www.cbc.ca/ne...4440481?cmp=rss

 

Now, ignoring that most if not the overwhelming vast majority of people do not buy one item at a time at the grocery store...

 

WTF is this story even making the news?

 

 

Pretty amazing stuff until you realize that most people don't go to the grocery store to purchase 1 item. As soon as you purchase multiple items then you are back to the law of averages.

[VicHockeyFan]

 

 

 

 

http://www.cbc.ca/ne...4440481?cmp=rss

 

Now, ignoring that most if not the overwhelming vast majority of people do not buy one item at a time at the grocery store...

 

WTF is this story even making the news?

 

 

Average grocery basket size in Canada is about $53.

 

https://www.statista...trip-in-canada/

 

So how the items offered at $2.98 or $3.69 have an factor in this is beyond me.  Especially when most transactions are credit or debit, so there is no rounding anyway.

[Mike K.]

$157 earned per year, or $0.43 per day.

 

You have to give this student some credit for pursuing something she felt was worthy of her time, but $0.43 per day is not an advantage, as the CBC posits. I'm sure there is more change swept up from the floors of grocery stores every day than $0.43.

[VicHockeyFan]

^ right.  Every day your average grocery store also throws away hundreds of dollars worth of produce.

[spanky123]

$157 earned per year, or $0.43 per day.

 

You have to give this student some credit for pursuing something she felt was worthy of her time, but $0.43 per day is not an advantage, as the CBC posits. I'm sure there is more change swept up from the floors of grocery stores every day than $0.43.

 

Not only that but you could use the argument that grocery stores discount their prices by $.01 to have the prices appear more attractive (ie something they have been doing for decades). On that basis then the $.99 pricing actually costs them money each year.

[Mike K.]

Right!

[Jackerbie]

Not only that but you could use the argument that grocery stores discount their prices by $.01 to have the prices appear more attractive (ie something they have been doing for decades). On that basis then the $.99 pricing actually costs them money each year.

 

Shelf price doesn't include tax, so that $0.99 becomes $1.04 or $1.11 (depending on the item). They gain a cent on produce, lose a cent on processed foods.

[jonny]

Yikes...

 

 

 

The BC Investment Management Corp., one of the country’s largest pension managers, has laid off “about 20” of its investment professionals, a mix of analysts and portfolio managers who largely worked in equities.

 

 

Part of the problem was the sudden, and seemingly chaotic way in which the layoffs were carried out.

 

On the day of the layoffs, a source said, emails were sent advising some staff to go to one location and the rest to another, to hear the good or bad news. But some wound up in the wrong room and had to be pulled out and redirected before the news was delivered.

 

http://business.fina...ns-about-morale

[Nparker]

This doesn't really surprise me based on the abysmal way in which recent changes to the Public Service Pension Plan were announced.

[jonny]

BCIMC and Pension Corp are two completely separate entities though, aren't they?

[Nparker]

BCIMC and Pension Corp are two completely separate entities though, aren't they?

Yes, but my point was that bad decisions are being made throughout the public pension system.

[thundergun]

I had heard about this recent firing squad mishap. That's something you don't want making the news.

BCIMC recently re-branded as BCI now btw.

[Nparker]

...BCIMC recently re-branded as BCI now btw.

I suppose this resolves them of actually managing anything.

[FirstTimeHomeCrier]

BCIMC and Pension Corp are two completely separate entities though, aren't they?

 

BCIMC manages the investments for the Public Service Pension Plan. BC Pension Corporation administers the plan according to the direction provided by the Public Service Pension Board of Trustees. The board implemented changes to the PSPP to modernize the plan and make it more equitable. The changes were not related in any way to performance by employees of BCIMC or the Pension Corporation, and therefore it's unlikely any would be laid off as a result of plan design changes.