Tag: Torah

  • Former TD Bank CEO Ed Clark to head up agency that will

    TORONTO — Ontario has called in its top business guru to head the agency that will handle the complicated task of selling and distributing recreational marijuana once pot is legalized this summer.Former TD Bank CEO Ed Clark, who has served as Premier Kathleen Wynne’s business adviser since 2015, was nominated Thursday by Finance Minister Charles Sousa to chair the Liquor Control Board of Ontario’s board of directors.Clark, who also is working on the province’s bid to land the new Amazon headquarters, will oversee the agency as it creates a subsidiary that will run stand-alone stores to sell legal weed.The process is likely to be fraught with challenges from municipal pushback to concerns about lack of supply, but Sousa said Clark’s experience makes him the ideal person for the job.When Clark served as CEO of TD Bank from 2002 to 2014 he focused on the financial institution’s retail operations and customer relations, the government said Thursday.“He’s a retailer by his nature,” Sousa said. “But he’s also a policy mind. He’s successful. He has the ability to deal very effectively with leaders around the world and we’ve engaged him to do just that on our behalf.”Clark’s appointment as LCBO chairman was discussed by Ontario’s cabinet Thursday morning and will now be finalized after a review by a committee at Queen’s Park.The province announced last fall that it plans to create a subsidiary of the Liquor Control Board of Ontario that will run the legal weed stores. The agency itself will oversee the planning process to establish its retail locations.The province plans to set up approximately 150 standalone cannabis stores by 2020 with the first wave of 40 stores opening this summer.Clark has handled a number of difficult files for Ontario’s Liberal government in recent years, leading a controversial government asset review in 2014 which recommended the partial selloff of Hydro One. In 2015, Clark advised the province on the restructuring of U.S. Steel Canada in Hamilton. In 2016, he conducted a review of the province’s digital health records system.For his work, Clark has taken a salary of one dollar per year, something that Sousa joked won’t change.“As you know he’s been advising and providing some support for the government on a number files and he has been getting his dollar,” Sousa said. “I don’t intend to give him a raise.”Ontario NDP Finance Critic John Vanthof panned Clark’s hiring saying it sends the signal that the LCBO could be privatized. He urged the premier to cancel Clark’s nomination to the board.“By appointing Clark to the top post at the LCBO, Wynne is sending strong signals that she won’t stop with the selloff of Hydro One,” Vanthof said in a statement. “Ontarians overwhelmingly opposed that short-sighted move, but Wynne went ahead with her plan anyway, and Ontario families are literally paying the price.”Ontario Public Service Employees Union President Warren (Smokey) Thomas also called on Wynne to rescind Clark’s appointment.“Ed Clark has always put profits before people,” Thomas said in a statement. “Giving him the keys to the LCBO will be a huge boon for Bay Street, but it’s going to cause real harm on Main Street.”Sousa denied Clark’s hiring signals a move to privatize the Crown corporation. Clark himself recommended hanging onto the LCBO in his review of government assets, he said.“There is no intent on selling LCBO,” he said. “It’s a very efficient, very productive, well-run organization. It’s valuation is tremendous.” read more

  • Joining with billionaire investor Buffett Clinton says she wants to build on

    Joining with billionaire investor Buffett, Clinton says she wants to build on ‘Buffett rule’ OMAHA, Neb. – With billionaire investor Warren Buffett looking on, Democratic presidential candidate Hillary Clinton said Wednesday she wants to raise taxes on the wealthy and expand upon the so-called “Buffett rule” pushed by the Obama administration to raise tax rates on the richest Americans.“I want to go even further, because Warren is 100 per cent right, as usual,” Clinton said at a rally in Omaha, Nebraska, that featured a public endorsement from Buffett, the famed investor and one of the wealthiest people in America. “I want to be the president for the struggling, the striving and the successful.”Introducing Clinton, Buffett offered a litany of statistics describing a growing chasm between the nation’s rich and poor, lamenting, “Millions and millions and millions of Americans have been left behind.” Buffett was the namesake for the push by the Obama administration to seek a tax rate of 30 per cent on those earning $1 million or more.The so-called “Oracle of Omaha” said he would be “delighted” if Clinton takes the oath of office, asserting that she will not forget about middle-class Americans. Buffett said he had watched all of the Republican presidential debates but Clinton was a better choice for voters. “You know, I used to love Abbott and Costello,” he said. “Vaudeville was never this good,” he added, suggesting the GOP debates have been comedy.In her primary campaign against Vermont Sen. Bernie Sanders, Clinton has pushed back against concerns among some liberals that her time in the Senate representing New York left her too close to Wall Street bankers — a notion that Buffett’s appearance was aimed at allaying.Republicans sought to brand her as a tax-and-spend liberal, unsympathetic to the economic pains of everyday American families.“Hillary Clinton’s economic agenda is more about redistribution than growth,” said Republican National committee spokesman Michael Short, in a statement. “Campaigning with the third richest person on the planet is an odd way to communicate that she understands and cares about the needs of millions of Americans.”Clinton aides said she would provide more details in the new year on how she would push for higher taxes on the wealthy beyond the framework of the “Buffett rule.” Some of her signature domestic spending proposals, including plans to curb student debt and rebuild roads and bridges, would be paid for by raising taxes on the wealthy.The high-profile event came a day after Clinton described her strategy to combat domestic terrorism, an issue in the spotlight since the deadly attacks in Paris and San Bernardino, California. While she largely ignored Tuesday night’s Republican debate, Clinton indicated that a combination of policies addressing the economy and homeland security would be central in her campaign.The Omaha rally brought Clinton to deep-red Nebraska, which is holding its caucus March 5, prompting her to joke that local Democrats should tell their Republican friends, “I don’t have horns.” The message could resonant in neighbouring Iowa, where Clinton is trying to defeat Sanders in the opening Democratic contest on Feb. 1.Buffett has referred to Clinton as a “hero of mine” in the past and predicted last year that she would succeed President Barack Obama, whom he also supported.Democrats say Buffett carries a rare dual appeal on Wall Street and Main Street. The investment guru’s annual shareholder meeting is dubbed “Woodstock for Capitalists” and drew an overflow crowd of more than 40,000 people from around the globe last spring.“What he brings to the table is that he’s one of the few highly-respected business people who average people view as one of them,” said Marc Lasry, a New York hedge fund manager and Democratic donor, in an interview. “He’s liked by lots of different kinds of people.”Buffett supported Clinton’s first Senate campaign in 2000, raised money for her presidential campaign in 2008 and later endorsed Obama and appeared at fundraisers for the president. Buffett joined Clinton at an Omaha fundraiser earlier in the morning.The chairman and CEO of Berkshire Hathaway Inc. has long voiced his displeasure with the growth of unlimited money in politics and the emergence of the super PACs. But he made his first donation to a super PAC last year, giving $25,000 to the pro-Clinton Ready for Hillary group, raising hopes among some Democrats that he might open his wallet again and in an even bigger way.Clinton ended the day with two town hall meetings in Iowa, where she frequently nodded her head in agreement as three supporters in Mason City urged attendees to caucus for her on Feb. 1.Earlier, at a church in Iowa City, Clinton gushed about her 14-month-old granddaughter, Charlotte. “She’s in love with Elmo. She is so delicious. My husband and I are head over heels crazy about her,” she said.One questioner offered her an unusual choice: Would she rather be president or pop singer Beyonce? Clinton joked that she’d “rather be president because I can’t sing.”But she promised, “I will be as good a president as Beyonce is a performer.”___Associated Press writer Julie Bykowicz in Las Vegas and Catherine Lucey in Iowa City, Iowa, contributed to this report.___On Twitter, follow Ken Thomas: https://twitter.com/KThomasDC FILE – In this Dec. 11, 2007, file photo, billionaire investor Warren Buffett helps Democratic presidential candidate, then-Sen. Hillary Clinton, D-N.Y., raise campaign funds in San Francisco. When Buffett joins a rally Wednesday, Dec. 16, 2015, with Clinton, a question humming in the background will be whether Buffett, one of the world’s premier investors, will throw more of his fortune behind her candidacy than he’s been comfortable spending in politics in the past. (AP Photo/Paul Sakuma, File) by Ken Thomas, The Associated Press Posted Dec 16, 2015 6:34 am MDT Last Updated Dec 16, 2015 at 6:44 pm MDT AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email read more