Latest news with #Remillard
Winnipeg Free Press
10-05-2025
- Business
- Winnipeg Free Press
DEI in spotlight at Quadrant Private Wealth Behavioral Finance Conference
The question posed at a Winnipeg conference — 'Do investors value DEI?' — had a short answer: it depends. But there was also a long answer, which Hoa Briscoe-Tran detailed in a yet-to-be-published academic paper. His Friday presentation at the Quadrant Private Wealth Behavioural Finance Conference comes amid U.S. government administration-ordered cuts to diversity, equity and inclusion initiatives. Meta and Walmart have axed their DEI programs in the U.S. Meanwhile, some Manitoba businesses with U.S. dealings have quieted their own DEI promotion south of the border to keep peace, according to the Winnipeg Chamber of Commerce. 'You (can) see how the U.S. could impact multiple countries,' Briscoe-Tran said at the Canadian Museum for Human Rights in Winnipeg. The assistant professor in finance at the University of Alberta and a partner studied immediate reaction to Florida's 'Stop WOKE Act,' which curbed workplaces from teaching about privilege and oppression among races and genders. The researchers found, within the first week of the act's 2021 announcement, Florida firms saw a cumulative equity market value decline compared to other United States companies. However, the impact hit businesses with pro-social investors harder. Some Florida companies' values increased in the short term of the act's announcement. The outcome depended on companies' investors, Briscoe-Tran said. A U.S. court temporarily blocked the law's enforcement in August 2022. Once the blockade arrived, negative investment impacts on Florida businesses reversed, per Briscoe-Tran and co-author Stephan Siegel's research. Briscoe-Tran wasn't aware of any Manitoba businesses backing away from their DEI activities. Some policies are performative and inefficient, he noted. He said he is 'hopeful' any reductions in DEI initiatives will bounce back, because the main purpose — greater inclusion and awareness — is a good one. Effective and efficient DEI strategies are key, Briscoe-Tran added. Broadly, Winnipeg businesses have not cut their DEI programming. Those with United States operations — especially those dealing with U.S. President Donald Trump's administration — have rebranded how they talk about DEI policies, said Winnipeg Chamber of Commerce president Loren Remillard. 'It's not a withdrawal,' he said Friday. 'It's just a recognition that in the United States right now, the Americans are moving in a different direction. No one wants to get in a confrontation with the U.S. government or clients.' A Winnipeg-based company in the U.S. might highlight its 'growing pipeline of talent,' without mentioning its DEI processes, Remillard explained. It's a departure from companies' marketing efforts showing diverse hiring practices. Businesses consider the cultural norms of the country they're operating in, Remillard noted. In 2023, General Electric added a pride flag to its logo in North America; it didn't in Saudi Arabia, the Daily Mail reported at the time. Morality and business advantages, such as outperforming peers, are reasons to keep DEI around, Remillard said. The Winnipeg Chamber of Commerce launched its CODE (Commitment to Opportunity, Diversity and Equity) program — in 2021. CODE has since been awarded by the Canadian Chamber of Commerce and expanded into Ontario. 'I think that companies continue to see the importance of diversity, equity and inclusion,' said Mike Shekhtman, a senior regional director at Robert Half, a human resource firm. If anything, Canadian companies are 'redefining and refining.' They may not have the funds to support DEI initiatives like they did three years ago, given the current economy. It could lead to less investment and 'not-as-robust' programs, Shekhtman said. Paul Bruch-Wiens hasn't clocked any DEI cuts with his clients. He's a private wealth manager and associate portfolio manager with Quadrant Private Wealth. The company and the University of Manitoba partnered on Friday's conference. 'It's difficult to understand exactly where this is leading over the long term,' Bruch-Wiens said, considering diversity programming changes in the United States. He's interested to see how such policy shifts will affect investments years down the line. Briscoe-Tran's paper highlighted the short term. In July, a U.S. judge permanently blocked part of the 'Stop WOKE Act,' eliminating restrictions on workplace training. Briscoe-Tran and Siegel have reached their paper's revision stage; they're hoping to see it published within the next few years. A swath of academics presented their papers at the Quadrant Behavioral Finance Conference. Industry and fellow academics provided feedback. The process helps to bring 'theory to life,' Bruch-Wiens said. Other topics included the efficacy of remote work for executives, newspaper closures and trading in local stocks. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Winnipeg Free Press
03-05-2025
- Business
- Winnipeg Free Press
Manitoba trails provincial peers in 2024 GDP growth
Manitoba's GDP growth lagged behind all other Canadian provinces in 2024. The keystone province logged a 1.1 per cent increase in its gross domestic product, falling short of the 1.6 per cent national average. Ontario and British Columbia were not much better, clocking rates of 1.2 per cent each. 'It's not surprising that … Manitoba was a bit below the national average,' said Fletcher Baragar, a University of Manitoba economics professor. Typically, Manitoba falls behind when the economy is doing well and takes a lead when the economy is struggling. It's because the provincial economy is diverse, Baragar said. However, Manitoba taking last place is unusual, Baragar added, pointing to revenue declines at Manitoba Hydro and in agriculture. Statistics Canada released its GDP report Thursday. It circled 'utilities' as the largest negative impact on Manitoba's gross domestic product in 2024. Hydro posted a consolidated net loss of $157 million in its 2023-24 fiscal year. It cited lower net exports due to drought, more expensive power imports and higher operating costs. Weather also affected agriculture outputs, as did price easing, Baragar noted. Provinces with higher GDP growth — such as Alberta at 2.7 per cent — had an oil or real estate boom, Baragar said. Manitoba's agriculture GDP dropped 1.3 per cent year-over-year. Ryan Kuffner, Economic Development Winnipeg president, said he expects revenues in both agriculture and at Hydro to bounce back. 'Overall, Manitoba didn't do too badly.' Economic Development Winnipeg's senior economist didn't flag 'significant concerns' of Manitoba falling behind other provinces. There's potential to grow the local GDP by leaning into critical minerals, diversifying markets and ensuring Manitoba has shovel-ready land for development, Kuffner said. 'The province is working on a new economic development strategy that I think will be key.' He was echoed by Loren Remillard, president of the Winnipeg Chamber of Commerce. 'We need a concerted focus around economic development,' Remillard said. 'The economic horse is not getting the attention it needs, while the social cart is getting heavier and heavier.' (He was referencing Manitoba Premier Wab Kinew's campaign pitch of an economic horse leading the social cart.) Remillard called for a 'whole of government commitment' to prioritize economic growth. Lowering interprovincial trade barriers, investing in artificial intelligence and bolstering trade infrastructure are necessary, he added. The provincial government launched a public survey for input on its economic development strategy last week. A report will likely be out within the year, Minister of Economic Development Jamie Moses confirmed. 'That strategy, one of the primary focuses of it is to grow our GDP,' he said. He's been consulting with business leaders over the past months. Regarding Manitoba's slower GDP, Moses said government continues to invest in building the economy. Manitoba had the lowest inflation rate among provinces last year and the second-lowest unemployment rate. A new gold mine in Lynn Lake and government investments in businesses like bus maker NFI Group in Winnipeg will provide hundreds of jobs, Moses added. The recent GDP data show the New Democrats have been 'sloppy' with the economy, said Lauren Stone, finance critic for the Progressive Conservatives. 'The former PC government laid the groundwork for growth,' she said. 'NDP policies have chased those investors away and killed Manitoba's momentum.' Manitoba had the highest inflation rate among provinces in February and March, she flagged. (Manitoba's rate increased after the province's gas tax pause ended.) Its manufacturing sector saw GDP growth last year, unlike Saskatchewan and Alberta, among other provinces. It's 'encouraging,' Baragar said. He predicts Canada, and Manitoba, will experience less GDP growth in 2025, due to ongoing trade wars. Locally, dry weather might further strain Hydro and agriculture revenue, Baragar said. Manitoba's GDP growth in 2025 may be better than the Canadian average, he added. The province logged GDP growth of 1.9 per cent in 2023. Gabrielle PichéReporter Gabrielle Piché reports on business for the Free Press. She interned at the Free Press and worked for its sister outlet, Canstar Community News, before entering the business beat in 2021. Read more about Gabrielle. Every piece of reporting Gabrielle produces is reviewed by an editing team before it is posted online or published in print — part of the Free Press's tradition, since 1872, of producing reliable independent journalism. Read more about Free Press's history and mandate, and learn how our newsroom operates. Our newsroom depends on a growing audience of readers to power our journalism. If you are not a paid reader, please consider becoming a subscriber. Our newsroom depends on its audience of readers to power our journalism. Thank you for your support.
Yahoo
01-04-2025
- General
- Yahoo
SFU to host workshop for veterans to share their stories, art pieces
LORETTO, Pa. (WTAJ) — Saint Francis University (SFU) is creating a safe space for veterans to tell their stories. For the first time, the university will host 'Why I Served: A Storytelling Workshop and Event for Veterans, By Veterans'. It's a unique opportunity for veterans to craft and share their personal stories. 'I started working with an alumni, and we both have an interest in veterans and working with veterans. And I myself am a former marine. As well. So this is kind of part of my background and my back story. And we also are really big fans of what storytelling can do. That storytelling is a way to connect, to relate, to share who we are and to grow as people,' Dr. Arthur Remillard, Dean for the School of STEAM at SFU said. The free workshop will help veterans develop a 5-minute story based on the theme 'Why I Served.' Participants will receive expert coaching from experienced storytellers, a professional portrait session, and practical communication skills. It will take place on April 12. The workshop is currently at capacity, but Remillard is willing to create a waitlist if more veterans are interested in joining. Household hazardous waste collection event to take place in Blair County 'It's part of what makes us human is the stories that we tell. And so these two interests, I think, collided. And we thought, boy, wouldn't it be great to celebrate our area's veterans and think about these stories that what brought them to making these decisions,' Remillard said. After the workshop, veterans will share their stories with the community on June 7 at the Connors Family Fine Arts Center. There will also be an Art Exhibit featuring the work of local artists who are military veterans. The university is currently calling for entries. 'Art's important for everybody. It's just a great stress reliever. It's a way to decompress. And I think this project, we just want to highlight what our veterans are doing,' Jessica Campbell, Director of the Center for Fine Arts at SFU, said. To enter the art exhibit, include the following information in your email: Artist Name, Military Branch Title of Work Medium (painting, drawing, mixed media, photography, sculpture) Size (Height x Length) Date of Completion Up to two works of art can be submitted 'I know it seems like a long time away. I'm excited for it. I think it's a unique opportunity just to showcase our veterans in the area. And personally, I come from a long line of veterans in my family, so I just think it's a great outreach project for us to do here,' Campbell said. To register for the Art Exhibit, email Jessica at jcampbell@ Registration should be completed by May 12, and the art must be dropped off on or before May 12 between 9 a.m. and 3 p.m. The art pieces must also be framed and ready to hang. The exhibit will be on display from June 7 to June 27. For more information about the workshop, contact Dr. Arthur Remillard at aremillard@ or 814-419-5261. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
CBC
26-03-2025
- Business
- CBC
Winnipeg automation company lays off 1/3 of staff as trade war leads to 'spending freeze'
Social Sharing A Winnipeg-based robotics company says it's laid off about a third of its employees, as orders for its products dry up amid uncertainty stemming from the Canada-U.S. trade war. Eascan Automation Inc. says between 20 and 23 employees were let go last month, with business recently dropping by about 25 per cent from a peak driven by pent-up demand after COVID-19 pandemic restrictions. The company, which provides custom-built machines to manufacturers, says its business primarily comes from Manitoba and other parts of Canada, but there's still been a slowdown that began around the time Donald Trump was re-elected U.S. president. Manufacturers doing "any kind of welding or bending or fabricating, a lot of their stuff was going to the States," said Jason Andres, Eascan's general manager. "A lot of companies are saying, 'OK, we don't need a robot this year. We can wait another year.'" Andres said that includes steel and aluminum processors, whose industry was recently hit by a 25 per cent tariff on exports of those metals to the U.S. WATCH | Eascan says it expects to weather trade war despite layoffs: Despite layoffs, Winnipeg automation company says it can weather trade war 11 hours ago Duration 2:01 Winnipeg's Eascan Automation says some customers have paused projects amid uncertainty surrounding Canada-U.S. trade relations, but the automation company is confident it will get some of that business back once the trade situation stabilizes. The general manager said Eascan has recently lost out on $3 million to $4 million in orders he was confident the company would get, after clients decided to pull out. The company is seeing "kind of a complete spending freeze," Andres said. "Even just those little [purchase orders] have kind of been more challenging to get, and I think that's really slowed us down, because sometimes we would use that to fill in the gaps." 'Very few' will escape pain: chamber Loren Remillard, president and CEO of the Winnipeg Chamber of Commerce, said that by late January, a majority of its members said they were expecting or already feeling the impacts of U.S. tariffs on Canadian goods. Nearly half of respondents to a survey at that point said they expected to lose customers, with many also anticipating layoffs or hiring freezes, he said. "The longer this goes on … those freezes will turn into, unfortunately, potential workforce reductions," he said. Remillard said that while front-line exporters may be the first ones "paying the price," all associated industries and businesses that support those companies — like Eascan — will be hurt too, as the impact of the tariffs moves through the economy. "It speaks to the insidious nature of tariffs," Remillard said. "Ultimately, we know there is very few — if any — companies that would ultimately escape this prolonged trade dispute. We will all feel the impact, and that could be as consumers.… We will start to see increased costs on the shelf." 'Mr. T out there' creating problems The Trump administration has sent mixed messages as to what tariffs it will slap on Canadian goods on April 2, when another round of levies on Canadian goods is set to come into effect. That's par for the course for the U.S. president, whose unpredictable approach to trade negotiations has been characterized by threats, reversals and delays. Eascan said it's expecting business to pick up once customers get some clarity. "We're really hoping that it's just a lull and that we'll get back to where we want to be," said sales manager Gary Kristiansen. He added that he's received some calls from potential clients who want to move some projects ahead, but are holding off for the time being.
