Blackberry is… doing well?
All hail the… Throne Speech!?
Ok, so last week we broke down what exactly the Throne Speech is, and why you should care about it.
Maybe you watched it. Maybe you didn’t.
Regardless, we’ve broken down the majority highlights of the speech below, plus a special 101 on the status of childcare in Canada, and what it means for the Liberal’s pursuit of intersectional feminist policymaking.
The Speech from the Throne promises to centre women in COVID recovery…
By Sydney Piggott
So what exactly does that mean?
On September 23, the 43rd parliamentary session was opened with a highly anticipated Speech from the Throne delivered by the Governor General of Canada, Her Excellency the Right Honourable Julie Payette.
The speech was titled “A stronger and more resilient Canada” and, in the days leading up to it, many were expecting the announcement of big changes to stimulate economic growth, address growing inequities caused by the COVID-19 pandemic, and a pave way toward this “new normal” everyone’s always talking about.
The Throne Speech introduced four foundations for Canada’s recovery: to fight the coronavirus pandemic, to support people and businesses, to “build back better,” and to celebrate diversity in Canada. If those promises sound expensive, you’re in good company with the Conservative party, who is raising concerns about the national deficit and what they claim is overspending.
Many of the commitments made were existing parts of the Liberal Party’s platform for the 2019 election, but when it comes to women, the Throne Speech promised historic changes to address the gendered impacts of the pandemic and recession. These include:
- Creating over one million jobs, extending the Canada Emergency Wage Subsidy, and improving the Employment Insurance system
- Creating an ‘Action Plan for Women in the Economy’ that will guide a task force to ensure “a feminist, intersectional response to this pandemic and recovery” using a whole-of-government approach. (Yep, she actually said intersectional!)
- Investing in a national affordable childcare program. Actual amount of the investment is TBD, but the plan is to use the Quebec universal affordable childcare model and support before- and after-school programs across the country. (Read more about childcare in the 101 we posted above)
- Accelerating the Women’s Entrepreneurship Strategy that helps to advance women-owned businesses through investment, talent, and networking opportunities.
In addition to committing to a feminist recovery, the speech also promised action to address systemic racism, Truth and Reconciliation, and environmental targets in Canada.
And what about those re-election rumours?
With the New Democratic Party in support of the Throne Speech, with some minor adjustments, it seems that we won’t have another election this fall. So, we’ll be keeping tabs on these commitments and keep you updated on what’s to come. To hear more about the Speech from the Throne, join me for a feminist analysis today on Instagram Live with Platform!
WTF are Real Estate Investment Trusts…?
And should you invest now?
By Vindhya Kolluru
What are REITs?
Real Estate Investment Trusts (REITs) are companies that own and finance commercial properties, ranging from malls to apartment complexes to office buildings to cellular towers. Some REITs can include more than one type of commercial property in what are known as diversified REITs.
But now that we’re in the middle of a pandemic, is investing in REITs still a smart idea?
During the first months of the pandemic, Canada’s REITs took a massive hit even though the housing market saw some growth over the summer. This is because our REIT index “has little exposure to data centres, warehouses, mobile phone towers — all growing in importance as the masses work and shop from home and wireless companies launch 5G services.” REIT investors might suffer losses into 2021 as unemployment rates continue to weaken the housing market.
In The Globe and Mail, John Heinzl writes that investors ought to look at two factors when considering REITs: cash flow from tenants and the length of the lease (also known as weighted average lease term, or WALT). So, now might not be the best time to invest in REITs but if you’re able to ride out the lows brought on by the pandemic, REITs can diversify your investment portfolio and are a relatively stable option to stocks.
Blackberry’s bossing 2020 (kind of)…
“What’s ur BBM?” – all of us, 2005-2012
By Erin Fiell
It seems like the only ones that have made somewhat okay progress in 2020 is Blackberry Ltd, and tbh, we’re happy for them.
The Canadian multinational tech giant reported big gains in their quarterly revenue, which was published last week, after a sluggish start to the year. Their revenue is up 6% to $266 million, surpassing analyst predictions of $214 million by a long shot.
Rewind your brain to the glorious mid 2000s – you’ll recall that Blackberry phones were all the rage before Apple took absolutely no prisoners in 2007 and mercilessly swept the cellphone market with iPhone.
Ever since, Blackberry Ltd – formerly called Research in Motion, or RIM – has struggled to reposition themselves in the market.
They’ve pivoted their product offering toward enterprise software (software suites for businesses and larger-scale organizations). And even then, they’ve still had to fight pretty dang hard for their place in the market.
Now let’s bring it back to the present. You’re probably wondering how Blackberry managed to turn it around despite a very rocky start to the year and almost EVERYONE ELSE returning garbage results this quarter.
One – with the masses shifting to a work from home lifestyle, companies are looking to tighten up their IT security, which has led to an increase in sales for Spark, Blackberry’s security software.
And two – Blackberry also turned some strong results from their patent licensing business.
Despite the fact that Blackberry has managed to achieve year-over-year growth and a surge in share price, they did report a loss of $23m and their shares haven’t fully recovered from the 20% drop they experienced at the start of the year.
Still. Progress is progress!
For the past two (!) years we’ve brought you financial news for free, covering operating costs ourselves, and volunteering our time and talents.
Now we’re putting our money where our mouth is, and asking the greater Btchcoin community to pitch in. We preach economic equality, and in some sense, we’ve got to make that happen for ourselves.
If you have the financial resources to do so, we’ve set up a Buy Me a Coffee page, where you can easily throw us 5 bucks (or more) via Paypal if you’d like to contribute.
Xo, Claire, Erin, and the entire Btchcoin team