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	<title>Canadian Business Blogs &#124; Advice on Investment in Canada, Stock Market, Small Businesses Opportunities &#187; Phil Froats</title>
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	<link>http://blog.canadianbusiness.com</link>
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		<title>Rooftop Power</title>
		<link>http://blog.canadianbusiness.com/rooftop-power/</link>
		<comments>http://blog.canadianbusiness.com/rooftop-power/#comments</comments>
		<pubDate>Thu, 15 Oct 2009 15:35:45 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3963</guid>
		<description><![CDATA[A U.S. company, Synergy Viridis, LLC, has a windpower product that really makes sense. It consists of small wind turbines that can be installed on the the roofs of office and high rise residences. Each turbine produces 1.7 to 2.5 kw of power. As I look out the windows of Canadian Business&#8217;s office in Toronto, [...]]]></description>
			<content:encoded><![CDATA[<p>A U.S. company, Synergy Viridis, LLC, has a windpower product that really makes sense. It consists of small wind turbines that can be installed on the the roofs of office and high rise residences. Each turbine produces 1.7 to 2.5 kw of power. As I look out the windows of Canadian Business&#8217;s office in Toronto, there are 100s of buildings that would qualify to have at least one of these units. If 5,000 buildings in Canada installed one rooftop wind or solar energy plant with an average output of one kw, that would be five megawatts of power. That&#8217;s about what the six nuclear reactors at the Bruce nuclear complex produce. Once installed, these rooftop units would produce power without generating one gram of carbon or using any land. Sounds like a win win situation to me.</p>
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		<title>Shocking Salaries</title>
		<link>http://blog.canadianbusiness.com/shocking-salaries/</link>
		<comments>http://blog.canadianbusiness.com/shocking-salaries/#comments</comments>
		<pubDate>Wed, 30 Sep 2009 17:16:35 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3862</guid>
		<description><![CDATA[The Ontario government publishes an annual  list that details names, salaries, positions and taxable benefits of all individuals who made more than $100,000 per year and work in the public sector of the province. A quick look at Hydro One and Ontario Power Generation (OPG) reveals some startling facts. Of the 12,000 OPG employees, 6,952 [...]]]></description>
			<content:encoded><![CDATA[<p>The Ontario government publishes an annual  list that details names, salaries, positions and taxable benefits of all individuals who made more than $100,000 per year and work in the public sector of the province. A quick look at Hydro One and Ontario Power Generation (OPG) reveals some startling facts. Of the 12,000 OPG employees, 6,952 or 58% of them made more than $100,000 per year. Their total salaries were $935 million or an average of $134,494 each. Hydro One had 5,032 employees and 2,307 (46%) of them made a six figure salary that cost Hydro a total of $289 million or $125,271 each. The average Canadian&#8217;s annual salary, as released today by Statistics Canada, is $42,848, less than one-third of Hydro and OPG employees.</p>
<p><span id="more-3862"></span></p>
<p>What do these people do to rate these salaries. Well, there are 18 Appendix A Mechanical Maintainers at OPG making up to $123,364. Hydro One has 16 Forestry Managers making up to $135,367 per year. OPG has 76 Civil Maintainers making up to $142,096.  Hydro One has two Barrie Inventory Specialists making over $100,000. I sorted the positions for Hydro One alphabetically and gave up counting at  Electical SubForeperson which was the 120th title, about 1/7th of the way though the whole list.</p>
<p>If you&#8217;d like to contact me at phil.froats@canadianbusiness.rogers.com, I&#8217;d be happy to send you copies of these salary details. The names have been removed and be prepared as these lists, like the Mississippi River, go on and on.</p>
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		<title>OECD Recovery Numbers</title>
		<link>http://blog.canadianbusiness.com/oecd-recovery-numbers/</link>
		<comments>http://blog.canadianbusiness.com/oecd-recovery-numbers/#comments</comments>
		<pubDate>Thu, 03 Sep 2009 18:53:47 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3650</guid>
		<description><![CDATA[Today&#8217;s news covers the announcement by the OECD of a third quarter recovery from the recession. The stories focus on how the OECD crystal ball sees the recovery in Canada being weaker than the other G7 members  and not starting till the fourth quarter of this year. There is some historical data omitted from the [...]]]></description>
			<content:encoded><![CDATA[<p>Today&#8217;s news covers the announcement by the OECD of a third quarter recovery from the recession. The stories focus on how the OECD crystal ball sees the recovery in Canada being weaker than the other G7 members  and not starting till the fourth quarter of this year. There is some historical data omitted from the coverage I read. First Canada seemed to slip into this recession later than the other G7 countries. During the second and third quarters of 2008, Canada had positive GDP growth while every other G7 country&#8217;s economy contracted. In the fourth quarter of 2008 and first quarter of this year, GDP declined but less than the average of the G7 and Euro area counties. It wasn&#8217;t until the second quarter of this year that Canada&#8217;s GDP performance was worse than the G7. The projected average 2009 GDP decline for Canada is 2.6%. Although this is a painful number, especially for the hundreds of thousands of people who lost their jobs, it looks better than the 4.1% average decline for G7 and Euro area countries. According to these numbers the recession was slightly shorter and softer here. The OECD projected 2009 GDP declines are:: U.S. 2.8%, Japan 6.8%, Euro area 4.8%, Germany 6.1%, France 3.0%, Italy 5.5%, U.K. 4.3% and Canada 2.6%</p>
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		<title>Public Sector 5,800; Private Sector (393,700)</title>
		<link>http://blog.canadianbusiness.com/public-sector-5800-private-sector-393700/</link>
		<comments>http://blog.canadianbusiness.com/public-sector-5800-private-sector-393700/#comments</comments>
		<pubDate>Mon, 31 Aug 2009 18:24:01 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[unemployment]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3608</guid>
		<description><![CDATA[During the 12 months ended June 2009, a total of 393,700 private sector employees lost their jobs. That&#8217;s equivalent to the entire working populations of Regina SK, Windsor ON, St. John&#8217;s NL, Saguenay, QC, Victoria, BC and Niagara Falls ON according to the 2006 census. Put another way, it is as if every person who [...]]]></description>
			<content:encoded><![CDATA[<p>During the 12 months ended June 2009, a total of 393,700 private sector employees lost their jobs. That&#8217;s equivalent to the entire working populations of Regina SK, Windsor ON, St. John&#8217;s NL, Saguenay, QC, Victoria, BC and Niagara Falls ON according to the 2006 census. Put another way, it is as if every person who lived in communities along the St. Lawrence River and Lake Ontario from the Quebec boder to the Greater Toronto area was out of work. That&#8217;s more than 400 km of unemployment. In the government, 5,800 jobs, the equivalent of Hinton AB, were created in the same period illustrating that there is a lot more security in the public sector.</p>
<p><span id="more-3608"></span></p>
<p>Almost 300,000 jobs were lost in manufacturing and construction alone.  The trade and transportation/warehousing sectors lost 72,400 and 30,800 positions respectively. Many of these were high paying positions. In June 2009, the average weekly wage was $823. The weekly wages for the major categories of job losses were: manufacturing $909; construction $1,066; wholesale trade $1,007; and transportation and warehousing $876. This makes for a lot fewer tax dollars to pay for more people in government.</p>
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		<title>Analyst Recommendation Performance</title>
		<link>http://blog.canadianbusiness.com/analyst-recommendation-performance/</link>
		<comments>http://blog.canadianbusiness.com/analyst-recommendation-performance/#comments</comments>
		<pubDate>Tue, 28 Jul 2009 17:29:36 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3345</guid>
		<description><![CDATA[As a quick and dirty test to see how stock performance reflects analyst recommendations, we looked at a few data points for 206 stocks on the TSX composite. We extracted the  year-to-date total returns as at July 27, 2009 and the analyst recommendation consensuses for six months ago. The rating scale goes from 0-5 and in theory, the [...]]]></description>
			<content:encoded><![CDATA[<p>As a quick and dirty test to see how stock performance reflects analyst recommendations, we looked at a few data points for 206 stocks on the TSX composite. We extracted the  year-to-date total returns as at July 27, 2009 and the analyst recommendation consensuses for six months ago. The rating scale goes from 0-5 and in theory, the higher the consensus numbers in January of this year, the better potential for the stock. Better potential should translate into a higher return.  Of these 206 stocks, 123 of them performed below the TSX composite year-to-date return of   22.8%. The average and mean returns for these companies were (0.6%) and 1.3% respectively. The 86 companies which outperformed the TSX had an average return of 72.7% and mean return of 47.6%, both considerably higher than the underperformers.</p>
<p><span id="more-3345"></span></p>
<p> The suprise was the analyst consensus numbers. The mean analyst recommendation for both winners and losers tied at 4.1. The average recommendaton for winners was also 4.1, only 5% ahead of losers at 3.9.  Of the stocks which underperformed the TSX, 51% were given an analyst recommendation of over 4.0. A total of 59% of the outperformers had a consensus of over 4.0. So while theory says the outperformers should have better numbers, practice seems to say something very different.</p>
<p>If you would like a spreadsheet with the companies and their year-to-date returns and consensus numbers, please leave a comment on this blog or email me at <a href="mailto:phil.froats@canadianbusiness.rogers.com">phil.froats@canadianbusiness.rogers.com</a></p>
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		<title>What a Difference a Quarter Makes</title>
		<link>http://blog.canadianbusiness.com/what-a-difference-a-quarter-makes/</link>
		<comments>http://blog.canadianbusiness.com/what-a-difference-a-quarter-makes/#comments</comments>
		<pubDate>Tue, 21 Jul 2009 17:39:20 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3271</guid>
		<description><![CDATA[We recently assembled the Canadian Business Investor 500 dated June 30, 2009. This list contains the largest 500 companies on Canadian exchanges by market capitalization which are then ranked by one year return. In the three months since the 500 was published in Canadian Business magazine, the market has shown quite an improvement. The average [...]]]></description>
			<content:encoded><![CDATA[<p>We recently assembled the Canadian Business Investor 500 dated June 30, 2009. This list contains the largest 500 companies on Canadian exchanges by market capitalization which are then ranked by one year return. In the three months since the 500 was published in Canadian Business magazine, the market has shown quite an improvement. The average one-year share loss is now 23.7% compared with a loss of 32.8% at the end of March.  Average market capital rose over $400,000,000 to $2,711,000,000. The lowest market cap on the list climbed more than 24% to $117,000,000 from $94,000,000. A total of 86 companies has flat or positive one-year returns for the year ended June 30 compared to 52 companies at the end of March.</p>
<p><span id="more-3271"></span></p>
<p>You can still get the March  Investor 500 with about 20 data tables and lots of good investment advice on newsstands.</p>
<p>If you would like a bare bones version of the June 30, 2009 version, email me at <a href="mailto:phil.froats@canadianbusiness.rogers.com">phil.froats@canadianbusiness.rogers.com</a> I&#8217;ll send you an excel table with 500 companies and their one and five-year share returns, market capitalization, revenue, dividend yield and industry.</p>
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		<title>First and Last Cities</title>
		<link>http://blog.canadianbusiness.com/first-and-last-cities/</link>
		<comments>http://blog.canadianbusiness.com/first-and-last-cities/#comments</comments>
		<pubDate>Thu, 09 Jul 2009 14:00:05 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[Brandon]]></category>
		<category><![CDATA[Burlington]]></category>
		<category><![CDATA[Calgary]]></category>
		<category><![CDATA[Edmonton]]></category>
		<category><![CDATA[Frederiction]]></category>
		<category><![CDATA[Hamilton]]></category>
		<category><![CDATA[Kingston]]></category>
		<category><![CDATA[Mississauga]]></category>
		<category><![CDATA[Moncton]]></category>
		<category><![CDATA[Moneysense]]></category>
		<category><![CDATA[Montreal]]></category>
		<category><![CDATA[Ottawa]]></category>
		<category><![CDATA[Peterborough]]></category>
		<category><![CDATA[Toronto]]></category>
		<category><![CDATA[Vancouver]]></category>
		<category><![CDATA[Victoria]]></category>
		<category><![CDATA[Winnipeg]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=3136</guid>
		<description><![CDATA[This spring&#8217;s issue of Moneysense Magazine&#8217;s Best Places to Live feature, which ranked 154 cities accross the country, put Victoria, B.C. in first place.  In order, the other cities of the top 10 were Ottawa, Kingston, Burlington, Vancouver, Moncton, Fredericton, Winnipeg, Peterborough and Brandon. Of the other cities with more than 500,000 people, Toronto was [...]]]></description>
			<content:encoded><![CDATA[<p>This spring&#8217;s issue of <a href="http://canadianbusiness.com/moneysense_magazine/index.jsp" target="_blank">Moneysense Magazine&#8217;s</a> Best Places to Live feature, which ranked 154 cities accross the country, put Victoria, B.C. in first place.  In order, the other cities of the top 10 were Ottawa, Kingston, Burlington, Vancouver, Moncton, Fredericton, Winnipeg, Peterborough and Brandon. Of the other cities with more than 500,000 people, Toronto was 79th, Montreal was 100th, Calgary took 26th place, Edmonton was 18th, Mississauga was 33rd and Hamilton was 59th.</p>
<p><span id="more-3136"></span></p>
<p>In any ranking there are those that come first and those that come last. So we took the 25 elements in the list and grouped them into the categories of: walk/bike to work, housing, income, sales and income taxes, population growth, crime, health providers, unemployment, weather/pollution, transit and buzz. Next we picked which cites were at the top and bottom of each of these categories. In some categories there are multiple firsts and lasts. For population growth, all cities with negative growth were placed last. In transit, several cities placed first due to the robust usage of their transit systems. Taxes were done provincially, so all cities in New Brunswick placed last.</p>
<p>We found that if you get sick, do so in Grand Falls-Windsor, Nfld which has the higher proportion of health care providers to it&#8217;s population. Brooks, Alta. placed last here. If you are worried about crime, Petawawa, Ont. has the lowest overall crime rate and Thompson, Man. has the highest. The most affordable housing, based on house price and time to buy a house is in Bathurst, N.B. Canmore, Alta. and Burnaby B.C. tie for last.</p>
<p>If you want to see the entire list of firsts and lasts, email me at phil.froats@canadianbusiness.rogers.com. I&#8217;ll send you both firsts and lasts and a list of the ranking of all cities for 2009.</p>
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		<title>Women Make Far Less than Men</title>
		<link>http://blog.canadianbusiness.com/women-make-far-less-than-men/</link>
		<comments>http://blog.canadianbusiness.com/women-make-far-less-than-men/#comments</comments>
		<pubDate>Fri, 26 Jun 2009 15:43:40 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=2930</guid>
		<description><![CDATA[According to tax return statistics for 2006 issued by the Canada Revenue Agency, women in this country make an average of 39.5% less than men. This ranges from 18.3% less for women under 20 to 49.3% for women aged 60 to 64. Provincial numbers show a larger range. The smallest difference was in Nova Scotia [...]]]></description>
			<content:encoded><![CDATA[<p>According to tax return statistics for 2006 issued by the<a href="http://www.cra-arc.gc.ca/" target="_blank"> Canada Revenue Agency</a>, women in this country make an average of 39.5% less than men. This ranges from 18.3% less for women under 20 to 49.3% for women aged 60 to 64. Provincial numbers show a larger range. The smallest difference was in Nova Scotia where women under 20 made 8.7% less than men of the same age. The largest discrepancy was in Alberta where women aged 60 to 64 made 62.1% less than men in the same age range. In every one of the 13 age groups in the country and 10 provinces, men had a higher average  income than women.</p>
<p><span id="more-2930"></span></p>
<p>If you are interested in knowing the percentage differences for the 154 lines that cover all age groups and totals for Canada and the 10 provinces, drop me an email at phil.froats@canadianbusiness.rogers.com and I&#8217;ll be happy to send you the Excel spreadsheet.</p>
<p>In the meantime, the table below shows the overall average federal and provincial differences.</p>
<p> </p>
<table border="0" cellspacing="0" cellpadding="0" width="154"><!--StartFragment--><br />
<col span="2" width="77"></col>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody>
<tr>
<td width="77" height="13">Canada</td>
<td class="xl24" width="77" align="right"><span style="color: #dd0806;">(39.53)</span></td>
</tr>
<tr>
<td height="13">Nfld</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(38.38)</span></td>
</tr>
<tr>
<td height="13">PEI</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(27.31)</span></td>
</tr>
<tr>
<td height="13">Nova Scotia</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(35.40)</span></td>
</tr>
<tr>
<td height="13">N.B.</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(36.54)</span></td>
</tr>
<tr>
<td height="13">Quebec</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(37.01)</span></td>
</tr>
<tr>
<td height="13">Ontario</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(38.64)</span></td>
</tr>
<tr>
<td height="13">Manitoba</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(32.73)</span></td>
</tr>
<tr>
<td height="13">Saskatchewan</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(36.07)</span></td>
</tr>
<tr>
<td height="13">Alberta</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(50.35)</span></td>
</tr>
<tr>
<td height="13">B.C.</td>
<td class="xl24" align="right"><span style="color: #dd0806;">(38.24)</span></td>
</tr>
</tbody>
</table>
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		<title>Housing Market Rebounding?</title>
		<link>http://blog.canadianbusiness.com/housing-market-rebounding/</link>
		<comments>http://blog.canadianbusiness.com/housing-market-rebounding/#comments</comments>
		<pubDate>Tue, 16 Jun 2009 14:34:14 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=2742</guid>
		<description><![CDATA[The Canadian Real Estate Association (CREA) notes that &#8220;national resale  housing market activity returned to pre-recession levels in May 2009&#8243; and that &#8220;year-over-year declines have been shrinking since the beginning of the year.&#8221; The average national sale price reached a new record of $319,757, up 0.4% from the previous record set in May 2008. In [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.crea.ca" target="_blank">The Canadian Real Estate Association</a> (CREA) notes that &#8220;national resale  housing market activity returned to pre-recession levels in May 2009&#8243; and that &#8220;year-over-year declines have been shrinking since the beginning of the year.&#8221; The average national sale price reached a new record of $319,757, up 0.4% from the previous record set in May 2008. In the 13 provincial, territorial and national markets, only B.C. and Alberta saw average price declines in May and each of these was less than the 2009 year-to-date numbers. Increased activity in some expensive markets had the effect of increasing average prices. A total of 49,521 units were sold in May 2009, down just 0.8% from a year earlier and about 70% of the major markets in Canada saw gains in monthly sales activity. In addition, there are fewer homes coming on the market. New listings declined to 65,070 units, the lowest since December 2005. With sales rising, listings falling and low mortgage rates, prices should be trending upwards.</p>
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		<title>Property tax ranking</title>
		<link>http://blog.canadianbusiness.com/property-tax-ranking/</link>
		<comments>http://blog.canadianbusiness.com/property-tax-ranking/#comments</comments>
		<pubDate>Thu, 04 Jun 2009 15:25:33 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[taxes]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=2458</guid>
		<description><![CDATA[Property taxes can vary significantly between communities. The Ontario Ministry of Municipal Affairs and Housing publishes a wealth of community financial data on it&#8217;s Financial Information Return website. There you will find the property and education tax rates for over 400 communities and townships in the province. Considering that property taxes are an expense you [...]]]></description>
			<content:encoded><![CDATA[<p>Property taxes can vary significantly between communities. The Ontario Ministry of Municipal Affairs and Housing publishes a wealth of community financial data on it&#8217;s <a href="http://csconramp.mah.gov.on.ca/fir/Welcome.htm" target="_blank">Financial Information Return</a> website. There you will find the property and education tax rates for over 400 communities and townships in the province. Considering that property taxes are an expense you can&#8217;t control, it is worth checking out these rates if you are considering a move.</p>
<p><span id="more-2458"></span></p>
<p>The table below shows 47 Ontario cities from the Moneysense magazine&#8217;s  <a href="http://list.canadianbusiness.com/rankings/bestplacestolive/2009/Default.aspx?sp2=1&amp;d1=a&amp;sc1=6" target="_blank">Best Places to Live</a> feature and applies the 2007 tax rate (the latest available) to the average house price as shown in the magazine to arrive at average property taxes for each community. It is sorted from highest to lowest total taxes. If want to move to a smaller community, taking the proceeds of your house sale to upgrade in your new location can result in a tax shock. The proceeds of $387,482 from the sale of an average Toronto house spent on a Peterborough dwelling would result in taxes of around $5,700 a year, about $2,400 more than you were paying. Getting out of Ottawa and spending the proceeds in Windsor would cost you a little over $2,500 a year in extra taxes.</p>
<p><!--EndFragment--></p>
<table border="0" cellspacing="0" cellpadding="0" width="289"><!--StartFragment--><br />
<col width="90"></col>
<col width="48"></col>
<col width="74"></col>
<col width="77"></col>
<tbody></tbody>
<tbody></tbody>
<tbody>
<tr>
<td class="xl24" width="90" height="13">Ontario</td>
<td class="xl25" width="48">Tax</td>
<td class="xl26" width="74">Average</td>
<td class="xl26" width="77">Average</td>
</tr>
<tr>
<td class="xl24" height="13">Community</td>
<td class="xl25">Rate</td>
<td class="xl26">House Price</td>
<td class="xl26">Total Taxes</td>
</tr>
<tr>
<td class="xl27" height="14"><a name="RANGE!A4:B48"></a><a name="RANGE!A4:B48"></a></td>
<td class="xl28">1.0073</td>
<td class="xl29">$508,172</td>
<td class="xl30">$5,119</td>
</tr>
<tr>
<td class="xl27" height="14">Markham</td>
<td class="xl28">1.0204</td>
<td class="xl29">$441,491</td>
<td class="xl30">$4,505</td>
</tr>
<tr>
<td class="xl27" height="14">Vaughan</td>
<td class="xl28">1.0148</td>
<td class="xl29">$438,968</td>
<td class="xl30">$4,455</td>
</tr>
<tr>
<td class="xl27" height="14">Cobourg</td>
<td class="xl28">1.6605</td>
<td class="xl29">$266,840</td>
<td class="xl30">$4,431</td>
</tr>
<tr>
<td class="xl27" height="14">Pembroke</td>
<td class="xl28">2.0001</td>
<td class="xl29">$207,680</td>
<td class="xl30">$4,154</td>
</tr>
<tr>
<td class="xl27" height="14">Brampton</td>
<td class="xl28">1.1954</td>
<td class="xl29">$313,954</td>
<td class="xl30">$3,753</td>
</tr>
<tr>
<td class="xl27" height="14">Collingwood</td>
<td class="xl28">1.2807</td>
<td class="xl29">$293,000</td>
<td class="xl30">$3,752</td>
</tr>
<tr>
<td class="xl27" height="14">Barrie</td>
<td class="xl28">1.3654</td>
<td class="xl29">$273,989</td>
<td class="xl30">$3,741</td>
</tr>
<tr>
<td class="xl27" height="14">Stratford</td>
<td class="xl28">1.3914</td>
<td class="xl29">$260,850</td>
<td class="xl30">$3,630</td>
</tr>
<tr>
<td class="xl27" height="14">Brockville</td>
<td class="xl28">1.5825</td>
<td class="xl29">$228,010</td>
<td class="xl30">$3,608</td>
</tr>
<tr>
<td class="xl27" height="14">Guelph</td>
<td class="xl28">1.3099</td>
<td class="xl29">$272,055</td>
<td class="xl30">$3,564</td>
</tr>
<tr>
<td class="xl27" height="14">Owen Sound</td>
<td class="xl28">1.4988</td>
<td class="xl29">$235,300</td>
<td class="xl30">$3,527</td>
</tr>
<tr>
<td class="xl27" height="14">Whitby</td>
<td class="xl28">1.2955</td>
<td class="xl29">$269,852</td>
<td class="xl30">$3,496</td>
</tr>
<tr>
<td class="xl27" height="14">Brantford</td>
<td class="xl28">1.6505</td>
<td class="xl29">$211,125</td>
<td class="xl30">$3,485</td>
</tr>
<tr>
<td class="xl27" height="14">Midland</td>
<td class="xl28">1.5191</td>
<td class="xl29">$227,380</td>
<td class="xl30">$3,454</td>
</tr>
<tr>
<td class="xl27" height="14">Toronto</td>
<td class="xl28">0.8528</td>
<td class="xl29">$387,482</td>
<td class="xl30">$3,305</td>
</tr>
<tr>
<td class="xl27" height="14">Kenora</td>
<td class="xl28">1.5208</td>
<td class="xl29">$216,580</td>
<td class="xl30">$3,294</td>
</tr>
<tr>
<td class="xl27" height="14">Kitchener</td>
<td class="xl28">1.2516</td>
<td class="xl29">$262,587</td>
<td class="xl30">$3,286</td>
</tr>
<tr>
<td class="xl27" height="14">Welland</td>
<td class="xl28">1.6986</td>
<td class="xl29">$192,851</td>
<td class="xl30">$3,276</td>
</tr>
<tr>
<td class="xl27" height="14">Mississauga</td>
<td class="xl28">1.0025</td>
<td class="xl29">$326,313</td>
<td class="xl30">$3,271</td>
</tr>
<tr>
<td class="xl27" height="14">Woodstock</td>
<td class="xl28">1.7283</td>
<td class="xl29">$189,146</td>
<td class="xl30">$3,269</td>
</tr>
<tr>
<td class="xl27" height="14">Sudbury</td>
<td class="xl28">1.6601</td>
<td class="xl29">$196,563</td>
<td class="xl30">$3,263</td>
</tr>
<tr>
<td class="xl27" height="14">Burlington</td>
<td class="xl28">1.0076</td>
<td class="xl29">$323,556</td>
<td class="xl30">$3,260</td>
</tr>
<tr>
<td class="xl27" height="14">Oshawa</td>
<td class="xl28">1.5886</td>
<td class="xl29">$203,988</td>
<td class="xl30">$3,241</td>
</tr>
<tr>
<td class="xl27" height="14">Waterloo</td>
<td class="xl28">1.2301</td>
<td class="xl29">$262,587</td>
<td class="xl30">$3,230</td>
</tr>
<tr>
<td class="xl27" height="14">Cambridge</td>
<td class="xl28">1.2623</td>
<td class="xl29">$245,442</td>
<td class="xl30">$3,098</td>
</tr>
<tr>
<td class="xl27" height="14">Orillia</td>
<td class="xl28">1.3869</td>
<td class="xl29">$218,847</td>
<td class="xl30">$3,035</td>
</tr>
<tr>
<td class="xl27" height="14">Hamilton</td>
<td class="xl28">1.2735</td>
<td class="xl29">$235,307</td>
<td class="xl30">$2,997</td>
</tr>
<tr>
<td class="xl27" height="14">Peterborough</td>
<td class="xl28">1.4794</td>
<td class="xl29">$200,035</td>
<td class="xl30">$2,959</td>
</tr>
<tr>
<td class="xl27" height="14">Kingston</td>
<td class="xl28">1.2917</td>
<td class="xl29">$227,896</td>
<td class="xl30">$2,944</td>
</tr>
<tr>
<td class="xl27" height="14">North Bay</td>
<td class="xl28">1.7766</td>
<td class="xl29">$161,908</td>
<td class="xl30">$2,876</td>
</tr>
<tr>
<td class="xl27" height="14">London</td>
<td class="xl28">1.4707</td>
<td class="xl29">$192,668</td>
<td class="xl30">$2,834</td>
</tr>
<tr>
<td class="xl27" height="14">S. Catharines</td>
<td class="xl28">1.4692</td>
<td class="xl29">$192,851</td>
<td class="xl30">$2,833</td>
</tr>
<tr>
<td class="xl27" height="14">Timmins</td>
<td class="xl28">2.1894</td>
<td class="xl29">$129,172</td>
<td class="xl30">$2,828</td>
</tr>
<tr>
<td class="xl27" height="14">Belleville</td>
<td class="xl28">1.1841</td>
<td class="xl29">$236,980</td>
<td class="xl30">$2,806</td>
</tr>
<tr>
<td class="xl27" height="14">Ingersoll</td>
<td class="xl28">1.4616</td>
<td class="xl29">$189,146</td>
<td class="xl30">$2,765</td>
</tr>
<tr>
<td class="xl27" height="14">Thorold</td>
<td class="xl28">1.4233</td>
<td class="xl29">$192,851</td>
<td class="xl30">$2,745</td>
</tr>
<tr>
<td class="xl27" height="14">Leamington</td>
<td class="xl28">1.4482</td>
<td class="xl29">$188,560</td>
<td class="xl30">$2,731</td>
</tr>
<tr>
<td class="xl27" height="14">Niagara Falls</td>
<td class="xl28">1.3953</td>
<td class="xl29">$192,851</td>
<td class="xl30">$2,691</td>
</tr>
<tr>
<td class="xl27" height="14">Windsor</td>
<td class="xl28">1.7226</td>
<td class="xl29">$150,506</td>
<td class="xl30">$2,593</td>
</tr>
<tr>
<td class="xl27" height="14">Tillsonburg</td>
<td class="xl28">1.4988</td>
<td class="xl29">$169,031</td>
<td class="xl30">$2,533</td>
</tr>
<tr>
<td class="xl27" height="14">Cornwall</td>
<td class="xl28">1.9561</td>
<td class="xl29">$127,102</td>
<td class="xl30">$2,486</td>
</tr>
<tr>
<td class="xl27" height="14">S. Ste. Marie</td>
<td class="xl28">2.0505</td>
<td class="xl29">$118,552</td>
<td class="xl30">$2,431</td>
</tr>
<tr>
<td class="xl27" height="14">Sarnia</td>
<td class="xl28">1.5644</td>
<td class="xl29">$155,104</td>
<td class="xl30">$2,426</td>
</tr>
<tr>
<td class="xl27" height="14">Petawawa</td>
<td class="xl28">1.0016</td>
<td class="xl29">$234,220</td>
<td class="xl30">$2,346</td>
</tr>
<tr>
<td class="xl27" height="14">Thunder Bay</td>
<td class="xl28">1.6865</td>
<td class="xl31">$134,867</td>
<td class="xl32">$2,275</td>
</tr>
<tr>
<td class="xl27" height="14">Ottawa</td>
<td class="xl28">0.7933</td>
<td class="xl31">$272,672</td>
<td class="xl32">$2,163</td>
</tr>
</tbody>
</table>
<p><!--EndFragment--></p>
<p><!--EndFragment--></p>
]]></content:encoded>
			<wfw:commentRss>http://blog.canadianbusiness.com/property-tax-ranking/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Unhappy Landings</title>
		<link>http://blog.canadianbusiness.com/unhappy-landings/</link>
		<comments>http://blog.canadianbusiness.com/unhappy-landings/#comments</comments>
		<pubDate>Wed, 03 Jun 2009 14:44:32 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[airports]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=2401</guid>
		<description><![CDATA[For the first four months of 2009, Statistics Canada reported that commercial aircraft movements at Canada&#8217;s major airports declined 4.2% compared to the like period last year. The five busiest airports saw a weighted average drop of 4.9% with Vancouver International registering the largest falls on a percentage basis and in the actual number of [...]]]></description>
			<content:encoded><![CDATA[<p>For the first four months of 2009, <a href="http://www.statcan.gc.ca" target="_blank">Statistics Canada</a> reported that commercial aircraft movements at Canada&#8217;s major airports declined 4.2% compared to the like period last year. The five busiest airports saw a weighted average drop of 4.9% with Vancouver International registering the largest falls on a percentage basis and in the actual number of aircraft.</p>
<p><span id="more-2401"></span></p>
<p>Airports are big business. The authorities responsible for the five airports below had 2008 revenues totaling $2,286,911,000. The Greater Toronto Airports Authority alone posted almost $1,200,000,000 in revenue of which $447,062,000 was in landing fees. </p>
<p>Along with the decline in traffic due to the economy, airports like Toronto and Vancouver which are close to the U.S. border face additional challenges. A search on www.expedia.ca shows that a round trip flight with one stop to Las Vegas costs $438 out of Toronto and $439 from Vancouver. If you take the flights out of Buffalo or Seattle, they cost $285 and $219 respectively. That means a savings of $306 to $440 per couple which goes a long way toward paying for an Elvis wedding.</p>
<p> </p>
<p> </p>
<p> </p>
<table border="0" cellspacing="0" cellpadding="0" width="363"><!--StartFragment--><br />
<col width="180"></col>
<col span="3" width="61"></col>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody>
<tr>
<td width="180" height="13"><span> </span></td>
<td class="xl27" width="61">Total</td>
<td class="xl28" width="61">Diff.</td>
<td class="xl29" width="61">%</td>
</tr>
<tr>
<td height="13"><span> </span></td>
<td class="xl27">Moves</td>
<td class="xl28">From LY</td>
<td class="xl29">Diff.</td>
</tr>
<tr>
<td height="13">Toronto (Pearson)</td>
<td class="xl24" align="right">129,415</td>
<td class="xl25" align="right"><span style="color: #dd0806;">(6,298)</span></td>
<td class="xl26" align="right"><span style="color: #dd0806;">(4.6)</span></td>
</tr>
<tr>
<td height="13">Vancouver International</td>
<td class="xl24" align="right">92,644</td>
<td class="xl25" align="right"><span style="color: #dd0806;">(6,720)</span></td>
<td class="xl26" align="right"><span style="color: #dd0806;">(6.8)</span></td>
</tr>
<tr>
<td height="13">Calgary International</td>
<td class="xl24" align="right">70,869</td>
<td class="xl25" align="right"><span style="color: #dd0806;">(3,679)</span></td>
<td class="xl26" align="right"><span style="color: #dd0806;">(4.9)</span></td>
</tr>
<tr>
<td height="13">Montréal (Trudeau)</td>
<td class="xl24" align="right">64,113</td>
<td class="xl25" align="right"><span style="color: #dd0806;">(3,334)</span></td>
<td class="xl26" align="right"><span style="color: #dd0806;">(4.9)</span></td>
</tr>
<tr>
<td height="13">Edmonton International</td>
<td class="xl24" align="right">40,076</td>
<td class="xl25" align="right"><span style="color: #dd0806;">(775)</span></td>
<td class="xl26" align="right"><span style="color: #dd0806;">(1.9)</span></td>
</tr>
<tr>
<td height="13">Total All Airports</td>
<td class="xl24" align="right">879,752</td>
<td class="xl25" align="right"><span style="color: #dd0806;">(38,875)</span></td>
<td class="xl26" align="right"><span style="color: #dd0806;">(4.2)</span></td>
</tr>
</tbody>
</table>
]]></content:encoded>
			<wfw:commentRss>http://blog.canadianbusiness.com/unhappy-landings/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Did you Double your Money?</title>
		<link>http://blog.canadianbusiness.com/did-you-double-your-money/</link>
		<comments>http://blog.canadianbusiness.com/did-you-double-your-money/#comments</comments>
		<pubDate>Fri, 29 May 2009 13:13:35 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=2360</guid>
		<description><![CDATA[ In the 36 trading days since the 2009 edition of the Investor 500, seven stocks on the list  had a return of 100% or more. All the companies other than Linamar Corp., a manufacturer and developer of machined components primarily for the automobile industry, are involved in the mining, forestry and paper and energy industries.
















 
%
Price
Price


Company
Return
Apr. [...]]]></description>
			<content:encoded><![CDATA[<p> In the 36 trading days since the 2009 edition of the Investor 500, seven stocks on the list  had a return of 100% or more. All the companies other than Linamar Corp., a manufacturer and developer of machined components primarily for the automobile industry, are involved in the mining, forestry and paper and energy industries.</p>
<p><span id="more-2360"></span></p>
<p><span style="font-family: Verdana;"></p>
<table border="0" cellspacing="0" cellpadding="0" width="296"><!--StartFragment--><br />
<col width="147"></col>
<col width="55"></col>
<col width="43"></col>
<col width="51"></col>
<tbody>
<tr>
<td width="147" height="12">
<table border="0" cellspacing="0" cellpadding="0" width="321"><!--StartFragment--><br />
<col width="147"></col>
<col width="58"></col>
<col span="2" width="58"></col>
<tbody>
<tr>
<td width="147" height="12"><span> </span></td>
<td class="xl24" width="58">%</td>
<td class="xl25" width="58">Price</td>
<td class="xl25" width="58">Price</td>
</tr>
<tr>
<td height="12">Company</td>
<td class="xl24">Return</td>
<td class="xl25">Apr. 3</td>
<td class="xl28">May 27</td>
</tr>
<tr>
<td height="12">Linamar Corp.</td>
<td class="xl27">156.6%</td>
<td class="xl26">$3.09</td>
<td class="xl26">$7.90</td>
</tr>
<tr>
<td height="12">OPTI Canada Inc.</td>
<td class="xl27">133.3%</td>
<td class="xl26">$1.44</td>
<td class="xl26">$3.36</td>
</tr>
<tr>
<td height="12">WesternZagros</td>
<td class="xl27">126.7%</td>
<td class="xl26">$0.60</td>
<td class="xl26">$1.36</td>
</tr>
<tr>
<td height="12">Norbord Inc.</td>
<td class="xl27">122.5%</td>
<td class="xl26">$0.71</td>
<td class="xl26">$1.58</td>
</tr>
<tr>
<td height="12">Denison Mines</td>
<td class="xl27">115.8%</td>
<td class="xl26">$0.95</td>
<td class="xl26">$2.05</td>
</tr>
<tr>
<td height="12">Cascades Inc.</td>
<td class="xl27">105.0%</td>
<td class="xl26">$2.42</td>
<td class="xl26">$4.92</td>
</tr>
<tr>
<td height="12">Harry Winston</td>
<td class="xl27">100.0%</td>
<td class="xl26">$3.75</td>
<td class="xl26">$7.50</td>
</tr>
<p><!--EndFragment--></tbody>
</table>
</td>
<td class="xl24" width="55"></td>
<td class="xl25" width="43"></td>
<td class="xl25" width="51"></td>
</tr>
</tbody>
</table>
<p></span></p>
<p>The major shareholders of two of the companies recouped some of their losses. Frank Hasenfratz, who owned 15,216,800 shares of Linamar, made over $73 million on paper from the rise in share prices from Apr. 3 to May 27, 2009. However, from a high price of $26.10 per share on Oct. 2, 2007, he lost over $350 million to Apr. 3, 2009. Cascades major shareholders, Bernard, Laurent and Alain Lemaire, picked up over $75 million on their  30,109,250 shares in the 36 days ended May 27, 2009. Considering that between Jan. 19, 2007, and Apr. 3, 2009, they lost over $388 million, a little less than 20% of the red ink was drained out of their investment in Cascades.</p>
<p> </p>
<p> </p>
<p><!--EndFragment--></p>
]]></content:encoded>
			<wfw:commentRss>http://blog.canadianbusiness.com/did-you-double-your-money/feed/</wfw:commentRss>
		<slash:comments>1</slash:comments>
		</item>
		<item>
		<title>Alternate Energy Companies</title>
		<link>http://blog.canadianbusiness.com/alternate-energy-companies/</link>
		<comments>http://blog.canadianbusiness.com/alternate-energy-companies/#comments</comments>
		<pubDate>Fri, 22 May 2009 14:30:08 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[green energy]]></category>
		<category><![CDATA[world's largest]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=2183</guid>
		<description><![CDATA[How big are the world&#8217;s publicly traded green energy companies? We searched Bloomberg to look at the largest companies by revenue involved in the nuclear, hydro, wind, solar, geothermal and fuel cell industries. Here is where they are, what they do, how big they are on a trailing 12-month basis in Canadian dollars and stock [...]]]></description>
			<content:encoded><![CDATA[<p>How big are the world&#8217;s publicly traded green energy companies? We searched Bloomberg to look at the largest companies by revenue involved in the nuclear, hydro, wind, solar, geothermal and fuel cell industries. Here is where they are, what they do, how big they are on a trailing 12-month basis in Canadian dollars and stock market performance for the 12 months ended May 20, 2009. There are a lot of other companies of this nature out there. For example, <a href="http://www.hydroquebec.com/en">Hydro Quebec</a> and <a href="http://www.bchydro.com">BC Hydro</a> had revenues of $12.7 and $4.9 billion respectively, but you can buy the stock of any of the companies listed below</p>
<p><span id="more-2183"></span></p>
<p><a href="http://www.areva.com">Areva SA</a> of France manufactures uranium and metallic fuels, constructs nuclear plants and generates and distributes electricity. Areva had a profit of $902 million on annual revenues of $20.6 billion. It&#8217;s stock lost 46% of its value over the last year.</p>
<p><a href="http://www.verbund.at/cps/rde/xchg/internet/hs.xsl/index.htm?rdeLocaleAttr=en">Oesterreichische Elektrizitaetswirtschafts AG</a> (Verbund), of Austria is the world&#8217;s largest publicly traded hydro company by revenue. It made $1.1 billion on last year&#8217;s revenues of $5.9 billion. It&#8217;s stock declined 35% in the past year.</p>
<p><a href="http://www.iberdrolarenovables.es/wcren/corporativa/iberdrola?IDPAG=ENINICIORENOVAB">Iberdrola Renovables SA</a> of Spain blows in as the largest power from wind company. Last year&#8217;s revenues of $3.2 billion resulted in profits of $609 million and shares dropped 23% over the year.</p>
<p><a href="http://www.firstsolar.com">First Solar Inc</a>. in the United States, manufactures solar modules and generated $500 million in profit on $1.7 billion in sales making it the largest company involved in the solar energy industry. Shares fell 35% in the last year.</p>
<p><a href="http://www.energy.com.ph/">Energy Development Corp</a>. of the Philippines generated $31 million of profit on $493 million in revenues derived from the production of geothermal energy. Stock dropped 32% during the year.</p>
<p><a href="http://www.fuelcellenergy.com/">Fuel Cell Energy Inc</a>. of the United States develops and commercializes fuel cell power plants. It lost $102 million on revenues of $115 million resulting in a 66% yearly drop in share price.</p>
<p>Canada&#8217;s largest green energy company by revenue is <a href="http://www.canhydro.com">Canadian Hydro Developers Inc</a>. The company lost $3 million on $81 million and stock fell by 50%.</p>
<table style="width: 358pt; border-collapse: collapse; text-align: left;" border="0" cellspacing="0" cellpadding="0" width="478">
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<td style="border: medium none #d4d0c8; width: 358pt; height: 13.2pt; background-color: transparent;" width="478" height="18"></td>
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</tbody>
</table>
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		<title>Take Home Pay in OECD Countries</title>
		<link>http://blog.canadianbusiness.com/take-home-pay-in-oecd-countries/</link>
		<comments>http://blog.canadianbusiness.com/take-home-pay-in-oecd-countries/#comments</comments>
		<pubDate>Wed, 13 May 2009 14:49:35 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[take-home pay]]></category>
		<category><![CDATA[tax oecd]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1994</guid>
		<description><![CDATA[The OECD has just released statistics indicating how much governments took  in taxes from wage earners in 2008. It calculates what it calls &#8220;the Tax Wedge, the difference between labour costs to the employer and the net take-home pay of the employee, including any cash benefits from government welfare programs.&#8221; The higher the tax wedge, [...]]]></description>
			<content:encoded><![CDATA[<p>The <a href="http://www.oecd.org">OECD</a> has just released <a href="http://www.oecd.org/document/7/0,3343,en_2649_34897_42723335_1_1_1_1,00.html">statistics</a> indicating how much governments took  in taxes from wage earners in 2008. It calculates what it calls &#8220;the Tax Wedge, the difference between labour costs to the employer and the net take-home pay of the employee, including any cash benefits from government welfare programs.&#8221; The higher the tax wedge, the less the employee takes home. In Belgium, Hungary and Germany, the average single employee takes home less than half of the total cost to the employer. in another nine countries, all in Europe, the tax wedge is between 40% and 50% which translates to the  employee to taking home less than 60% of gross wages. With a tax wedge of 31.3% in Canada, a single employee does relatively well taking home  almost 69% of gross wages. So according to my calculations from the table below, a person who makes $50,000 per year in Belgium would their tax burden decline from $28,000 to $15,650 by moving to Canada. A move to Mexico would result in a reduction in taxes to $7,550. </p>
<p><span id="more-1994"></span></p>
<p> </p>
<p><!--EndFragment--></p>
<p> </p>
<p> </p>
<p> </p>
<p> </p>
<table border="0" cellspacing="0" cellpadding="0" width="181"><!--StartFragment--><br />
<col width="96"></col>
<col width="85"></col>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody></tbody>
<tbody>
<tr>
<td width="96" height="13">Country</td>
<td class="xl25" width="85">Tax Wedge %</td>
</tr>
<tr>
<td height="13">Belgium</td>
<td class="xl24" align="right">56.0</td>
</tr>
<tr>
<td height="13">Hungary</td>
<td class="xl24" align="right">54.0</td>
</tr>
<tr>
<td height="13">Germany</td>
<td class="xl24" align="right">52.0</td>
</tr>
<tr>
<td height="13">France</td>
<td class="xl24" align="right">49.3</td>
</tr>
<tr>
<td height="13">Austria</td>
<td class="xl24" align="right">48.8</td>
</tr>
<tr>
<td height="13">Italy</td>
<td class="xl24" align="right">46.5</td>
</tr>
<tr>
<td height="13">Netherlands</td>
<td class="xl24" align="right">45.0</td>
</tr>
<tr>
<td height="13">Sweden</td>
<td class="xl24" align="right">44.6</td>
</tr>
<tr>
<td height="13">Finland</td>
<td class="xl24" align="right">43.5</td>
</tr>
<tr>
<td height="13">Czech Rep.</td>
<td class="xl24" align="right">43.4</td>
</tr>
<tr>
<td height="13">Greece</td>
<td class="xl24" align="right">42.4</td>
</tr>
<tr>
<td height="13">Denmark</td>
<td class="xl24" align="right">41.2</td>
</tr>
<tr>
<td height="13">Turkey</td>
<td class="xl24" align="right">39.7</td>
</tr>
<tr>
<td height="13">Poland</td>
<td class="xl24" align="right">39.7</td>
</tr>
<tr>
<td height="13">Slovak Rep.</td>
<td class="xl24" align="right">38.9</td>
</tr>
<tr>
<td height="13">Spain</td>
<td class="xl24" align="right">37.8</td>
</tr>
<tr>
<td height="13">Norway</td>
<td class="xl24" align="right">37.7</td>
</tr>
<tr>
<td height="13">Portugal</td>
<td class="xl24" align="right">37.6</td>
</tr>
<tr>
<td height="13">Luxembourg</td>
<td class="xl24" align="right">35.9</td>
</tr>
<tr>
<td height="13">UK</td>
<td class="xl24" align="right">32.8</td>
</tr>
<tr>
<td height="13">Canada</td>
<td class="xl24" align="right">31.3</td>
</tr>
<tr>
<td height="13">USA</td>
<td class="xl24" align="right">30.1</td>
</tr>
<tr>
<td height="13">Japan</td>
<td class="xl24" align="right">29.5</td>
</tr>
<tr>
<td height="13">Switzerland</td>
<td class="xl24" align="right">29.5</td>
</tr>
<tr>
<td height="13">Iceland</td>
<td class="xl24" align="right">28.3</td>
</tr>
<tr>
<td height="13">Australia</td>
<td class="xl24" align="right">26.9</td>
</tr>
<tr>
<td height="13">Ireland</td>
<td class="xl24" align="right">22.9</td>
</tr>
<tr>
<td height="13">New Zealand</td>
<td class="xl24" align="right">21.2</td>
</tr>
<tr>
<td height="13">Korea</td>
<td class="xl24" align="right">20.3</td>
</tr>
<tr>
<td height="13">Mexico</td>
<td class="xl24" align="right">15.1</td>
</tr>
</tbody>
</table>
]]></content:encoded>
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		<title>Investor 500, the Sequel</title>
		<link>http://blog.canadianbusiness.com/investor-500-the-sequel/</link>
		<comments>http://blog.canadianbusiness.com/investor-500-the-sequel/#comments</comments>
		<pubDate>Tue, 12 May 2009 15:13:01 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1969</guid>
		<description><![CDATA[The 2009 Investor 500 published by Canadian Business Magazine last week was based on the market close on April 3, 2009. From then to May 11, 2009, the  TSX composite has risen by 11.6%. Here&#8217;s some of the ways an Investor 500 with a May 11 market close would differ.

Lowest market cap up by  17% [...]]]></description>
			<content:encoded><![CDATA[<p>The 2009 Investor 500 published by <a href="http://www.canadianbusiness.com">Canadian Business Magazine</a> last week was based on the market close on April 3, 2009. From then to May 11, 2009, the  TSX composite has risen by 11.6%. Here&#8217;s some of the ways an Investor 500 with a May 11 market close would differ.<span id="more-1969"></span></p>
<ul>
<li>Lowest market cap up by  17% to $110 million.</li>
<li>Average market cap now $2,569 million, a gain of $269 million.</li>
<li>Total market cap increased by $135 billion which is greater than the GDP of 124 countries according to the IMF.</li>
<li>Average one-year total share loss now 27.8%, an improvement from a loss of 32.8% at Apr. 3.</li>
<li>Total of 64 companies with positive one-year returns, up from 51.</li>
<li>Average total share return of 16.3% from Apr. 3 to May 11, 2009 for original Investor 500 companies.</li>
</ul>
]]></content:encoded>
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		<item>
		<title>10 Years of Investor 500s</title>
		<link>http://blog.canadianbusiness.com/10-years-of-investor-500s/</link>
		<comments>http://blog.canadianbusiness.com/10-years-of-investor-500s/#comments</comments>
		<pubDate>Fri, 08 May 2009 17:25:01 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[Canada's largest companies]]></category>
		<category><![CDATA[CB investor 500]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1926</guid>
		<description><![CDATA[Canadian Business Magazine has been doing company rankings since the early 1970s. The Investor 500, where Canada&#8217;s largest companies by market capitalization are ranked by their one-year returns, is now 10 years old. A lot has changed since the first issue.

Of the five companies with the best one-year returns in 2000, three are acquired or [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.canadianbusiness.com">Canadian Business Magazine</a> has been doing company rankings since the early 1970s. The Investor 500, where Canada&#8217;s largest companies by market capitalization are ranked by their one-year returns, is now 10 years old. A lot has changed since the first issue.</p>
<p><span id="more-1926"></span></p>
<p>Of the five companies with the best one-year returns in 2000, three are acquired or delisted and two still continue under different names but with less than $4 million in market capitalization. </p>
<p>All of the companies below, representing over $191 million in market capitalization, are now gone off Canadian stock exchanges. </p>
<p> </p>
<p><!--EndFragment--></p>
<p> </p>
<p><!--EndFragment--></p>
<table border="0" cellspacing="0" cellpadding="0" width="329"><!--StartFragment--><br />
<col width="192"></col>
<col width="137"></col>
<tbody></tbody>
<tbody>
<tr>
<td width="192" height="13">Company</td>
<td class="xl24" width="137" align="right"><span> </span>Market Cap. $Millions</td>
</tr>
<tr>
<td height="13">724 Solutions Inc.</td>
<td class="xl24" align="right"><span> </span>2,220</td>
</tr>
<tr>
<td height="13">Abitibi-Consolidated Inc.</td>
<td class="xl24" align="right"><span> </span>3,299</td>
</tr>
<tr>
<td height="13">Alberta Energy Co. Ltd.</td>
<td class="xl24" align="right"><span> </span>8,606</td>
</tr>
<tr>
<td height="13">Alcan Aluminium Ltd.</td>
<td class="xl24" align="right"><span> </span>10,886</td>
</tr>
<tr>
<td height="13">Aliant Inc.</td>
<td class="xl24" align="right"><span> </span>4,465</td>
</tr>
<tr>
<td height="13">Anderson Exploration Ltd.</td>
<td class="xl24" align="right"><span> </span>3,489</td>
</tr>
<tr>
<td height="13">ATI Technologies Inc.</td>
<td class="xl24" align="right"><span> </span>6,155</td>
</tr>
<tr>
<td height="13">BC Gas Inc.</td>
<td class="xl24" align="right"><span> </span>1,150</td>
</tr>
<tr>
<td height="13">BCE Emergis Inc.</td>
<td class="xl24" align="right"><span> </span>5,907</td>
</tr>
<tr>
<td height="13">Bell Canada Intl. Inc.</td>
<td class="xl24" align="right"><span> </span>2,378</td>
</tr>
<tr>
<td height="13">Berkley Petroleum Corp.</td>
<td class="xl24" align="right"><span> </span>1,244</td>
</tr>
<tr>
<td height="13">BioChem Pharma Inc.</td>
<td class="xl24" align="right"><span> </span>3,379</td>
</tr>
<tr>
<td height="13">Canada Life Financial</td>
<td class="xl24" align="right"><span> </span>4,489</td>
</tr>
<tr>
<td height="13">Clearnet Communications</td>
<td class="xl24" align="right"><span> </span>1,895</td>
</tr>
<tr>
<td height="13">C-MAC Industries Inc.</td>
<td class="xl24" align="right"><span> </span>3,686</td>
</tr>
<tr>
<td height="13">Cognos Inc.</td>
<td class="xl24" align="right"><span> </span>3,935</td>
</tr>
<tr>
<td height="13">Cominco Ltd.</td>
<td class="xl24" align="right"><span> </span>2,044</td>
</tr>
<tr>
<td height="13">Creo Products Inc.</td>
<td class="xl24" align="right"><span> </span>2,219</td>
</tr>
<tr>
<td height="13">Crestar Energy Inc.</td>
<td class="xl24" align="right"><span> </span>1,384</td>
</tr>
<tr>
<td height="13">Dofasco Inc.</td>
<td class="xl24" align="right"><span> </span>2,013</td>
</tr>
<tr>
<td height="13">Domtar Inc.</td>
<td class="xl24" align="right"><span> </span>3,126</td>
</tr>
<tr>
<td height="13">Encal Energy Ltd.</td>
<td class="xl24" align="right"><span> </span>1,101</td>
</tr>
<tr>
<td height="13">Falconbridge Ltd.</td>
<td class="xl24" align="right"><span> </span>4,416</td>
</tr>
<tr>
<td height="13">Fletcher Challenge Canada</td>
<td class="xl24" align="right"><span> </span>2,161</td>
</tr>
<tr>
<td height="13">Four Seasons Hotels Inc.</td>
<td class="xl24" align="right"><span> </span>2,593</td>
</tr>
<tr>
<td height="13">Franco-Nevada Mining</td>
<td class="xl24" align="right"><span> </span>2,871</td>
</tr>
<tr>
<td height="13">Gulf Canada Resources</td>
<td class="xl24" align="right"><span> </span>2,354</td>
</tr>
<tr>
<td height="13">Hudson&#8217;s Bay Co.</td>
<td class="xl24" align="right"><span> </span>1,273</td>
</tr>
<tr>
<td height="13">Hummingbird Ltd.</td>
<td class="xl24" align="right"><span> </span>1,144</td>
</tr>
<tr>
<td height="13">Inco Ltd.</td>
<td class="xl24" align="right"><span> </span>4,924</td>
</tr>
<tr>
<td height="13">Intrawest Corp.</td>
<td class="xl24" align="right"><span> </span>1,203</td>
</tr>
<tr>
<td height="13">Le Groupe Videotron Ltee</td>
<td class="xl24" align="right"><span> </span>2,343</td>
</tr>
<tr>
<td height="13">Mackenzie Financial Corp.</td>
<td class="xl24" align="right"><span> </span>2,790</td>
</tr>
<tr>
<td height="13">Microcell Telecom.</td>
<td class="xl24" align="right"><span> </span>999</td>
</tr>
<tr>
<td height="13">Moffat Communications</td>
<td class="xl24" align="right"><span> </span>1,089</td>
</tr>
<tr>
<td height="13">Molson Inc.</td>
<td class="xl24" align="right"><span> </span>1,199</td>
</tr>
<tr>
<td height="13">Placer Dome Inc.</td>
<td class="xl24" align="right"><span> </span>4,144</td>
</tr>
<tr>
<td height="13">Renaissance Energy Ltd.</td>
<td class="xl24" align="right"><span> </span>2,351</td>
</tr>
<tr>
<td height="13">Rio Algom Ltd.</td>
<td class="xl24" align="right"><span> </span>1,134</td>
</tr>
<tr>
<td height="13">Rio Alto Exploration Ltd.</td>
<td class="xl24" align="right"><span> </span>2,155</td>
</tr>
<tr>
<td height="13">Royal Group Technologies</td>
<td class="xl24" align="right"><span> </span>2,429</td>
</tr>
<tr>
<td height="13">Seagram Co. Ltd.</td>
<td class="xl24" align="right"><span> </span>31,859</td>
</tr>
<tr>
<td height="13">Shell Canada Ltd.</td>
<td class="xl24" align="right"><span> </span>9,476</td>
</tr>
<tr>
<td height="13">Sobeys Inc.</td>
<td class="xl24" align="right"><span> </span>1,286</td>
</tr>
<tr>
<td height="13">TD Waterhouse Group</td>
<td class="xl24" align="right"><span> </span>8,953</td>
</tr>
<tr>
<td height="13">Teleglobe Inc.</td>
<td class="xl24" align="right"><span> </span>7,741</td>
</tr>
<tr>
<td height="13">Telesystem Intl. Wireless</td>
<td class="xl24" align="right"><span> </span>2,183</td>
</tr>
<tr>
<td height="13">Trilon Financial Corp.</td>
<td class="xl24" align="right"><span> </span>1,123</td>
</tr>
<tr>
<td height="13">TrizecHahn Corp.</td>
<td class="xl24" align="right"><span> </span>3,555</td>
</tr>
<tr>
<td height="13">Westcoast Energy Inc.</td>
<td class="xl24" align="right"><span> </span>2,787</td>
</tr>
</tbody>
</table>
<p>Nortel Networks was by far the largest company with a market capitalization of over $229 billion. That was at a post-consolidated price of $788.50 per share, about 64% of the all-time high in July 2000. By Apr. 3, 2009, Nortel had dropped 99.97% of its 2000 Investor 500 worth to $0.25 per share. That&#8217;s a loss in value of $6,800 for every man, woman and child in the country.</p>
<p>The 2009 edition of the Investor 500 came out yesterday. It shows where money was lost and gained over the last year and gives some good advice on where the market might be headed. It&#8217;s worth a read.</p>
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		<title>2009 Investor 500</title>
		<link>http://blog.canadianbusiness.com/2009-investor-500/</link>
		<comments>http://blog.canadianbusiness.com/2009-investor-500/#comments</comments>
		<pubDate>Thu, 07 May 2009 14:53:03 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[GDP]]></category>
		<category><![CDATA[I500]]></category>
		<category><![CDATA[market capital]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1915</guid>
		<description><![CDATA[The 2009 edition of the Canadian Business Investor 500 is now out, and what a difference a year makes. The list covers Canada&#8217;s largest 500 public companies by market capitalization so includes about 97% of the Canadian domiciled market cap on public exchanges. For the 12 months ended April 3, 2009, the average total shareholder [...]]]></description>
			<content:encoded><![CDATA[<p>The 2009 edition of the <a href="http://www.canadianbusiness.com">Canadian Business</a> Investor 500 is now out, and what a difference a year makes. The list covers Canada&#8217;s largest 500 public companies by market capitalization so includes about 97% of the Canadian domiciled market cap on public exchanges. For the 12 months ended April 3, 2009, the average total shareholder <strong>loss</strong> was 32.8%. This compares to total returns of 13.6% in 2008 and 33.9% in 2007. To get on the I500 this year, a company needed at least $94 million in market capitalization, down from $221 million last year. Total market capitalization in 2009 was $1.15 trillon, down by $550 billion from 2008.  How can one identify with $550 billion. Here&#8217;s a few different ways to look at this amount.<span id="more-1915"></span></p>
<ul>
<li>In loonies stacked equals the 2.5 times the distance from the earth to the moon.</li>
<li>Equal to almost $62,000 for each Canadian family in the 2006 census.</li>
<li>Only 23 countries had a GDP greater than C$550 million according to the IMF.</li>
<li>At the Stats Canada average of $42,692, the annual wages of 12,884,000 Canadians.</li>
</ul>
<p>In addition to the main rankings, we list stocks according to growth, value, turnaround, defensive, income trusts, best managed, cash flow, dividends and the top 25 stocks in several catgories.  If you read the magazine for the articles, Joe Castaldo, Jeff Sanford, Sarka Halas, Sharda Prashad, Andrew Wahl, Thomas Watson, Matthew McClearn and Calvin Leung all make very powerful contributions.</p>
]]></content:encoded>
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		<title>Hockey Eh!!</title>
		<link>http://blog.canadianbusiness.com/hockey-eh/</link>
		<comments>http://blog.canadianbusiness.com/hockey-eh/#comments</comments>
		<pubDate>Fri, 01 May 2009 17:28:32 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[baseball]]></category>
		<category><![CDATA[Golf]]></category>
		<category><![CDATA[Hockey]]></category>
		<category><![CDATA[salaries]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1804</guid>
		<description><![CDATA[Canadian Business has come out with its third annual Hockey&#8217;s Most and Least Valuable list. As far as we know this is the only website on the planet that analyzes which players give the most bang for the bucks they are paid. How would you like to earn $6,375 for every minute on the ice? [...]]]></description>
			<content:encoded><![CDATA[<p><a href="http://www.canadianbusiness.com">Canadian Business</a> has come out with its third annual <a href="http://list.canadianbusiness.com/rankings/hockey_salaries/2009/Default.aspx?sp2=1&amp;d1=d&amp;sc1=3">Hockey&#8217;s Most and Least Valuable</a> list. As far as we know this is the only website on the planet that analyzes which players give the most bang for the bucks they are paid. How would you like to earn $6,375 for every minute on the ice? Thoms Vanek, a Buffalo Sabres left winger does and got paid $200,000 for every goal he scored in the 2008-09 season. Dany Heatley of the Ottawa Senators got $121,951 for every game played and  Heatley received $178,862 of his $10,000,000 salary to sit in the penalty box. Zdeno Chara of  Boston and Sidney Crosby of Pittsburgh each got paid just shy of $150,000 to warm the bench. However, Crosby was paid a meagre $87,279 per point scored while Heatley and Chara were paid $138,889 and $150,000 per point respectively. Kris Versteeg of Chicago came in last at $9,245 for each of his 53 points. Imagine making this kind of money for playing a game.</p>
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<p>If you like hockey, you&#8217;ll like the marriage of statistics and salaries on this site. It will certainly make you want to ask for a raise. If you like <a href="http://list.canadianbusiness.com/rankings/baseball-salaries/2008/intro/Default.aspx?sp2=1&amp;d1=d&amp;sc1=-1">baseball</a> or <a href="http://list.canadianbusiness.com/rankings/golfearnings/2009/Default.aspx?sp2=1&amp;d1=d&amp;sc1=-1">golf</a>, try the links shown here, we&#8217;ve married up salaries and statistics for these sports too.</p>
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		<title>The Numbers of Labour</title>
		<link>http://blog.canadianbusiness.com/the-numbers-of-labour/</link>
		<comments>http://blog.canadianbusiness.com/the-numbers-of-labour/#comments</comments>
		<pubDate>Wed, 29 Apr 2009 18:24:51 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[employment]]></category>
		<category><![CDATA[labour]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1725</guid>
		<description><![CDATA[From the end of October 2008 till the end of March 2009, Canada&#8217;s labour force declined by almost 378,000 people &#8211; about the population of Halifax. Both private and public employment declined and the self employed numbers showed a very nominal increase.

Period Ending              October 08    March 09    # Change    % Change
Private Employees       11,101,300    [...]]]></description>
			<content:encoded><![CDATA[<p>From the end of October 2008 till the end of March 2009, Canada&#8217;s labour force declined by almost 378,000 people &#8211; about the population of Halifax. Both private and public employment declined and the self employed numbers showed a very nominal increase.</p>
<p><span id="more-1725"></span></p>
<p>Period Ending              October 08    March 09    # Change    % Change<br />
Private Employees       11,101,300    10,806,500    (294,800)    (2.66)<br />
Self Employed               2,649,500      2,649,800             300       0.01<br />
Public Employees          3,464,900      3,381,800      (83,100)    (2.40)<br />
Total employees           17,215,700    16,838,100    (377,600)    (2.19)</p>
<p>Within these numbers, job security was partially a function of your occupation. Construction and manufacturing were hardest hit with losses of 8.3% and 7.1% respectively. This represents about 243,000 people, approximately the population of Saskatoon. Other areas that saw percentage declines greater than average were:</p>
<p>Agriculture (2.5%)</p>
<p>Natural Resources (4.6%)</p>
<p>Transportation and Warehousing (3.3%)</p>
<p>Education Services (3.1%)</p>
<p>Public Administration (2.8%)</p>
<p>Some areas saw employment gains, with health care and social assistance and other services showing increases of 1.7% and 2.1% respectively.</p>
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		<title>BCE Compensation</title>
		<link>http://blog.canadianbusiness.com/bce-compensation/</link>
		<comments>http://blog.canadianbusiness.com/bce-compensation/#comments</comments>
		<pubDate>Thu, 23 Apr 2009 15:16:28 +0000</pubDate>
		<dc:creator>Phil Froats</dc:creator>
				<category><![CDATA[Phil Froats]]></category>
		<category><![CDATA[BCE]]></category>
		<category><![CDATA[executive compensation]]></category>
		<category><![CDATA[Michael Sabia]]></category>

		<guid isPermaLink="false">http://blog.canadianbusiness.com/?p=1558</guid>
		<description><![CDATA[According to the most recent management proxy circular, BCE Inc. paid six executive officers a total of $15,761,246 or almost $0.02 per share in &#8220;One-Time Privatization Transaction Related Payments&#8221; during 2008. Now if memory serves when it was announced on Nov. 26, 2008 that the deal would not go through, BCE shares dropped $13.10 per [...]]]></description>
			<content:encoded><![CDATA[<p>According to the most recent management proxy circular, BCE Inc. paid six executive officers a total of $15,761,246 or almost $0.02 per share in &#8220;One-Time Privatization Transaction Related Payments&#8221; during 2008. Now if memory serves when it was announced on Nov. 26, 2008 that the deal would not go through, BCE shares dropped $13.10 per share to close at $25.25, wiping out about $10 billion in shareholder value. The payments to George Cope, Siim Vanaselja, Kevin Crull, Wade Oosterman, Stephane Boisvert and Michael Sabia, represented &#8220;the sum of the non-recurring recognition and retention payments made in 2008.&#8221; The $15.8 million represents payments made in July 2008, and the second half of the payments were not made as the privatization did not occur. What sales person wouldn&#8217;t like a commission structure like this. Every contact with a customer could result in half the commission being paid even if the sale is not completed.</p>
<p><span id="more-1558"></span></p>
<p>In addition, to $1,250,000 for the above privatization-that-never-occurred payments, Michael Sabia, who left in July 2008, received $14,236,139 in compensation &#8220;triggered at the time of his departure from Bell Canada and BCE in 2008.&#8221; He also received $729,167 in salary and $3,125,000 in incentive compensation. In total his about one-half-of-a-year compensation was $20,953,285 or about $0.025 per share.</p>
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