Latest news with #businessImpact
CTV News
2 days ago
- Business
- CTV News
Some TMR business owners say Hydro-Québec construction is hurting their livelihoods
A Hydro-Québec construction project in TMR is drawing frustration from some local business owners who say they were given little notice and are now struggling. A major Hydro-Québec construction project in the Town of Mount Royal (TMR) is drawing frustration from some local business owners who say they were given little notice and are now struggling to stay afloat. Crews have been digging and blocking streets since late April to install an underground transmission line along Jean-Talon West and Lucerne Road. While the Crown corporation says the work is essential to meet growing energy demands on the island of Montreal, business owners like Amit Bachar of Details Car Wash say it's left them with no clear way out. 'I've lost half my revenue already,' said Bachar, who's been operating the Jean-Talon West car wash for 18 years. 'On a sunny day like today, there would normally be 15 cars lined up. But now there's no one because customers can't even access my business.' The project, expected to continue through early September, has severely limited traffic on Lucerne Road, which is the main access point for Bachar's car wash. While one lane remains open for southbound traffic, the northbound route is entirely closed. That means drivers must take a detour just to get in. 'Cars can't come in from Jean-Talon like they usually do,' he said. Bachar says the situation has already forced him to cut employee hours. 'I'm trying to help them as much as I can, but I don't have unlimited money,' he said. 'This business is like my baby. Everything I've built over the past 18 years—Hydro-Québec could undo it in weeks.' A stone's throw away, Shalom Grunwald runs District Bagel. He said the disruption only began affecting him in recent days, but business has already slowed. 'Usually, when the weather is like this, our patio and inside would be full,' Grunwald said. 'Now, it's barely just a few people walking in.' He blames what he sees as poor planning and a lack of communication from Hydro-Québec. 'There's a detour, but it adds 15 to 20 minutes if you're driving,' Grunwald said. 'For a sandwich? Most people will just go somewhere else.' Both Grunwald and Bachar said they were only informed of the multi-month construction about two weeks before it began. Bachar described his calls to Hydro-Québec as frustrating, claiming he was told to hire a lawyer if he wanted help. 'So instead of supporting us, they're telling us to get into legal battles?' he said. 'I can't fight the government. They have all the money and we're just small business owners trying to survive.' In a statement to CTV News, Hydro-Québec spokesperson Jonathan Côté said excavation and paving near the intersection of Lucerne and Jean-Talon should be completed by June 6, with the full project wrapping up by Sept. 5. 'These are major works that will be completed in full by the end of summer,' Côté wrote, adding that specific efforts were made to limit disruption for local merchants. Those measures include installing bypass roads, signage, flaggers during work hours, and even a police presence during rush hour. Côté said plans were shared with affected business owners in advance and that the corporation held individual meetings with merchants. However, Hydro-Québec stated that financial compensation would not be provided in this case. The spokesperson said that's due to the work serving a public utility need, construction happening on public roads and mitigation efforts. That's cold comfort for Bachar. 'We pay taxes, we work seven days a week and we give everything to make our businesses work,' he said. 'Then they come in and destroy it all for a project—and don't even try to help. How can they look at people here suffering and just ignore it?' He says he's speaking out not just for himself but for other small business owners across Montreal facing similar situations. 'I'm sure there are hundreds of people in this position,' Bachar said. 'Hydro-Québec does whatever it wants, and it's not fair to the citizens.'
The Verge
3 days ago
- Business
- The Verge
How private equity kills companies and communities
Today, I'm talking with Megan Greenwell, a former top editor at Wired and Deadspin, about her new book Bad Company: Private Equity and the Death of the American Dream. It comes out on June 10th, and it's a searing account of how private equity goes far beyond impacting failing businesses and deeply affects and transforms the lives of everyday Americans. Decoder is very much a show about the systems and frameworks that explain tech, policy, and business, and that means we've talked about private equity a number of times on the show. Private equity is everywhere across the business landscape, even though its massive influence on how so many companies operate is pretty hidden from view. But once you see it, you start to notice it everywhere, and it's incredibly validating to hear that so many people have had similar experiences with companies managed by private equity. I know this, because it's in our numbers and the feedback we get here on Decoder — our 2023 episode with lawyer and author Brendan Ballou about his book on private equity, Plunder, is one of our most popular episodes. Megan's interest in private equity came from her experience as editor-in-chief of Deadspin, the famous and now-defunct sports and culture website. Deadspin was part of Gawker, and Gawker was taken over by a private equity firm called Great Hill Partners, which began to immediately micromanage Deadspin 's content. That was when Megan first realized that the goals and financial results of a private equity firm were very disconnected from the goals and financial results of the companies it had taken over. Listen to Decoder, a show hosted by The Verge 's Nilay Patel about big ideas — and other problems. Subscribe here! Megan's book is a deep dive into the private equity industry, as expressed in four parts of the economy: retail, media, housing, and — maybe the most maddening of them all — healthcare. My family has a lot of doctors in it, and I've heard so much about how private equity has changed healthcare in the US. You'll hear Megan connect the dots between the financialization of healthcare and the poor experiences many people have with healthcare today. We also spent some time talking about the history of private equity, and the throughline from the New York City real estate world that gave birth to Donald Trump all the way to the private equity industry of today. I think you'll find there is a surprising amount of history here that really does help explain not just how the incentives of finance have come to dominate the American way of life, but also how it's seeped into the highest levels of the government. Perhaps most surprisingly, you'll hear Megan take great pains to differentiate private equity from venture capital, which is very different — and with very different problems. I always really enjoy talking to other editors, especially about something they're so curious about. Let me know what you think about this one. I suspect you will have a lot to say. If you'd like to read more on what we talked about in this episode, check out the links below:
Yahoo
25-05-2025
- Business
- Yahoo
Music venue owner says town centre works are 'destroying' his business
A music venue owner says works in a town centre are 'destroying' his business. Howard Kirk owns The Venue, a live music hall and television production facility in Chapel Road, Worthing. Outside the building, Hemiko, an investor, developer, and operator of heat networks, is carrying out works to implement a sustainable network in the town. Mr Kirk has reported that the works are disrupting the day-to-day running of the venue, with no concerts being held this year. He said: 'It has almost destroyed the business. 'Any artists in tour buses or that have trucks are totally out of the question. 'We were down 60 per cent on our music shows thanks to the works and the actions of Worthing Borough Council and we are 100 per cent down on our filming, which is down to access, noise from the works and actions of Worthing Borough Council. Hemiko working on the new heat network outside High Street car park (Image: Sussex News and Pictures) 'They are preventing us from using our building, they have destroyed our business and reputation and robbed us of our livelihood.' Mr Kirk also reported car parking challenges impacting customers, who were previously able to use a car park in Stoke Abbott Road, which is now a medical centre. Grafton multi-storey car park on Worthing seafront was also closed last week due to 'concrete failing'. 'The car park situation is crazy, and again has an impact on us', he said. 'The car park spaces available with the works are next to nothing and to be shared with the Assembly Halls.' A number of other businesses in Worthing town centre have reported being impacted by the works, experiencing a drop in trade and footfall. Worthing Borough Council said Hemiko is looking to speak with Mr Kirk about the issues, adding that works will be paused over the summer holidays. A spokesman said 'We're saddened to see how a number of businesses and residents have reacted to the construction of the Worthing Heat Network. 'Along with Hemiko, our partner delivering the project, we're taking any concerns extremely seriously and have arranged in-person meetings with business owners and representatives of our town centre's traders to understand their worries and, where possible, make compromises to reduce disruption. 'Hemiko also holds monthly sounding board meetings with various stakeholders across the town to provide construction updates, help increase awareness of their upcoming works and take onboard feedback. 'We're approaching the end of this phase of the project, which has unfortunately seen unavoidable disruption caused to key areas of our town centre. "We understand how challenging this has been for businesses, visitors and people living in our town centre, and can only thank everyone for their patience during this period. 'We understand that some residents and businesses are feeling frustrated at the disruption that is taking place right now, but we retain our belief that the network will play a crucial part in not only our decarbonisation journey, but that of the hospital as well and supporting others across the town to connect in future. 'The project will bring sustainable heating to buildings and homes in the borough, cut the town's carbon emissions by thousands of tonnes of year and create hundreds of jobs, with Hemiko expecting to have created up to 500 jobs by 2050.' Hemiko was approached for comment. The first phase of the Worthing heat network is expected to be completed by 2026.
Yahoo
19-05-2025
- Business
- Yahoo
Midtown Atlanta business owners say they're struggling because of construction
Some business owners in Midtown say they're struggling ever since a construction project got underway nearby. The 1072 West Peachtree project, located at the corner of 12th and W. Peachtree St. NW, has led to intermittent street closures. Some business owners say foot traffic and vehicle traffic have decreased significantly since the construction began. Tajuansar Diallo, owner of Soak and Polish, says the construction has impacted not only her salon's ambience but also her bottom line. 'To have staff you can't pay—it hurts. And I've never had that problem in the seven years I've been here,' explained Diallo. Erica Williams, the owner of Boozie Smoothies, echoed similar sentiments Sunday afternoon. [DOWNLOAD: Free WSB-TV News app for alerts as news breaks] 'If it wasn't for DoorDash or Uber Eats, we wouldn't even be surviving right now,' said Williams. Residents who live along the street, like James Turner, say the decrease in foot traffic has been positive for them. 'No one comes over here at all anymore, so I like it. Especially these businesses over here—they probably get zero traffic. But me living here, I don't mind it at all,' explained Turner. The construction project, which is being developed by the Rockefeller Group and built by Turner Construction, is expected to be completed by the spring of 2026, according to the Rockefeller Group website. Turner Construction Company shared the following statement in response to construction concerns: 'We believe that how we build is just as important as what we build. We care deeply about the communities we work in and want our neighbors to be safe and successful. On this project, one business owner approached us to share concerns that construction activity impacted her business. We met with her directly to understand her concerns and offered meaningful support, including assistance with marketing her business and connecting her with business development resources. While she has not taken us up on these offers, we remain open and ready to help. We maintain regular communication with surrounding property management teams and continue to proactively take steps to minimize construction-related disruptions. This is the only business that has come forward to us with concerns. Turner has proudly been part of the Atlanta community for over 50 years, and we remain deeply committed to maintaining a lasting presence here for generations to come—listening, supporting, and working together to strengthen the communities we help build.' TRENDING STORIES: Johns Creek teen cashes over $545K in fake checks to pay lawyer in separate fraud case, police say 4 identified in apparent murder-suicide in southeast GA 3 men dead, others injured after shooting at GA bar RADCO, the real estate firm that owns the building where Boozie Smoothies and Soak and Polish rent space, echoed similar sentiments: 'The construction company has been very communicative about potential disruptions, which we pass on to our residential and commercial tenants. Construction is not fun for anyone, but it's part of living and working in the city. Once the project is finished, there will be even more potential customers for our commercial tenants' businesses.' Diallo informed Channel 2's Brittany Kleinpeter on Sunday evening that she will be closing her doors by the end of the month and relocating to a different area. You can find more information on how to support her here. [SIGN UP: WSB-TV Daily Headlines Newsletter]
