PARIS — French semiconductor materials supplier Soitec and chipmaker STMicroelectronics said on Thursday they were deepening their cooperation over the manufacturing of a key and fast-growing material used in the electric car industry.
The material, silicon carbide (SiC), is used to make a growing number of chips that improve the power management of electric vehicles.
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It is also a driver of growth for the two firms, which have benefited lately from a global chip shortage and the subsequent rise in demand and prices.
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Under the enhanced cooperation, STMicro, whose biggest clients include EV maker Tesla Inc, agreed to use Soitec’s SiC substrate technology, in the form of a bigger, 200 millimeter wafer which is upcoming, the two companies said in a statement.
The so-called qualification of Soitec’s new substrate by STMicro over the next 18 months means that the Franco-Italian chipmaker will be able to manufacture the technology itself, as it needs to ramp up production of SiC chips.
“This will help accelerating the adoption of electric cars,” Soitec’s chief executive, Pierre Barnabe, said, adding that 200mm wafers enable the manufacturing of more components and improve the charging capabilities of cars.
While not exclusive, the Soitec-STMicro cooperation gives STMicro a time advantage in the adoption of the technology.
STMicro is aiming to sell $700 million worth of SiC chips this year and is targeting $1 billion in 2023, it has said.
The Geneva-based group said in October it will build a 730 million-euro silicon carbide wafer plant in Italy, the first such project approved as part of a European Union drive to bring more chip production closer to home. (Reporting by Mathieu Rosemain in Paris Editing by Matthew Lewis)
The global economy is well on its way to a deep recession. That’s if it isn’t already there yet. Interest rates have surged enough to curb economic activity. Meanwhile, consumers are squeezed by high inflation so spending is down. All considered, economic growth should be negative in many parts of the world next year.
Investing during a recession is tricky. Many seemingly undervalued businesses go under. While growth stocks tend to be more volatile in such an environment. Investors looking for safety need to turn their attention to resilient sectors such as energy and utilities.
The convenience and cost-effectiveness of fast food is particularly appealing when consumers are financially stressed. The rising price of food is a key driver of inflation. Consumers see this in their local grocery stores. However, prices are even more magnified at casual and fine-dining restaurants. These establishments have to price in labour, commercial rent, and utilities on every bill.
Another concern is tip inflation. The average tip in Canada has surged from 15%-20% to 20%-25% in recent years.
That’s why consumer demand is shifting to fast food chains. The most famous fast food chains have reported strong earnings throughout 2022. I expect this trend to continue for the next few years as consumers grapple with the loss of purchasing power.
Canada’s top fast food stocks
Restaurant Brands International Inc. (TSX:QSR) and Pizza Pizza Ltd. (TSX:PZA) are top picks in this sector.
In the third quarter of 2022, RBI reported 14% growth in revenue year over year. Digital sales were up 26% over the past year. Every brand under the RBI umbrella, including Burger King, Tim Hortons, and Popeye’s reported net growth in sales. The company also expanded its dividend payout and committed to lowering its debt burden with the excess cash flow.
Meanwhile, Pizza Pizza saw its royalty pool expand by 15.4% in this recent quarter. The management team has raised the dividend payout by 3.7%. At the moment, the stock offers a lucrative 6.25% yield. That looks as tempting as the brand’s flagship pizzas!
While other sectors of the economy are pulling back, fast-food chains are deploying even more cash for expansion. Pizza Pizza opened six new locations this year. Restaurant Brands wants to expand its network from 28,000 to 40,000 over the next 8 to 10 years. That’s a clear sign of the resilience of this undervalued sector despite economic headwinds.
Bottom line
It’s difficult to invest during rampant inflation and a declining economy. However, some sectors of the economy offer a reprieve to both consumers and investors. Low-cost fast food chains are one such sector. Investors looking for durable dividends should add high-quality fast food stocks to their watch list in 2023 and beyond.
(Bloomberg) -- A virtuous circle is forming in Chinese assets as gains spurred by signs the nation is rolling back Covid Zero drive more investors to chase the rally.
This month’s rotation-driven surge in Chinese stocks and credit has made them among the globe’s best performers. An index of the nation’s US-listed shares climbed a record 30%, the Hang Seng China Enterprises Index gained the most since 2003, property stocks have jumped 61% and high-yield dollar bonds rose 20%. The yuan spiked up on Wednesday as Beijing said it will allow some residents to skip mass Covid Tests.
Despite the gains, swaths of Wall Street’s investing elite are yet to be drawn in. Long-only equity funds remain unconvinced, retail investors reluctant, and speculators are only in it for the short haul or simply covering shorts, data appear to show.
US hedge funds are still selling with outflows from Chinese stocks of almost $3 billion this quarter, Morgan Stanley says. Mom-and-pop investors have mostly stayed on the sidelines, with exchange-traded funds such as KWEB, MCHI and FXI attracting only a trickle of inflows.
Optimists say the light positioning sets the stage for more gains in coming months as global investors are forced to rebuild their weightings in China. Long-only actively managed funds cut their Asian stock exposure to an eight-year low before November, with China seeing the biggest reduction, according to Bank of America Corp.’s analysis of 1,300 funds managing $1.8 trillion.
“Right now there are low-hanging fruits in China,” Daniel Lam, head of equity strategy at Standard Chartered Wealth Management, said on Bloomberg Television on Wednesday. “The market had a great November but started off at a very terribly low base -- don’t forget that.”
Investors have for months been struggling to find reasons to turn more positive on China. A shift away from the strict Covid Zero policy would have such huge ramifications for the economy that the fastest-moving funds want to get ahead of the news. They bought in early November on the basis of screenshots of unverified documents on anonymous social media accounts suggesting officials were preparing to wind back some of the restrictions.
They’ve gathered more evidence since. Beijing appears to be changing its rhetoric around Covid, portraying new variants as less virulent than the first outbreak. Authorities are also seeking to minimize the economic and social costs of Covid Zero, this week criticizing excessive containment measures. The central government in November also delivered a plan to rescue the property industry, suggesting a pivot to a more supportive economic policy.
‘Desperately Needed’
This month’s rally was “desperately needed,” said Carl Wong, a managing director at Gopher Redwoods Asset Management in Hong Kong.
First in were the short sellers, who covered their bearish positions so rapidly they snapped up Country Garden Holdings Co.’s share placing solely to lock in profits. Options dealers started buying after getting caught needing to boost hedges when stocks rallied. Ownership of Alibaba Group Holding Ltd.’s derivatives, for example, climbed above 1 million contracts in Hong Kong for the first time since June.
For some quantitative traders, rare chart indicators were a call to action. The market was so downbeat that buying signals were flashing just about everywhere you looked. Every major Chinese stock benchmark started November at or near oversold territory, while an index of Chinese junk dollar debt was yielding on average 31%.
Taking Profit
For bears, the lack of conviction underscores the rally’s precariousness. Some of the Asia-based hedge funds who bought in November are already looking to take profit, Morgan Stanley said in a research note this week, citing conversations with clients.
At the same time, a lack of long-term buyers may leave the market vulnerable to swings.
There are economic risks too. Manufacturing and services activity both contracted more this month than economists forecast, data published on Wednesday showed.
“I’ve derisked a considerable part of the portfolio,” said Brian Quartarolo, a money manager at Lighthouse Investment Partners. “It will be some time before the macro data improves, so buying China is going to be a tricky leap of faith for foreigners like me for a while.”
Some took that leap in November. Others plan to follow in the coming months.
“Despite near-term market volatility, we are more optimistic about Chinese risk assets for 2023, given low valuations and an economic upswing led by a controlled reopening next year,” said David Chao, a global market strategist of Asia Pacific ex-Japan at Invesco Hong Kong Ltd.
--With assistance from Wenjin Lv and Lorretta Chen.
Bad Boys 2, Bridesmaids and Fast & Furious leaving Netflix Canada December 2022 (Canadian Press)
Will Smith and Martin Lawrence's Bad Boys movie trilogy is being separated on Netflix Canada, along with several Fast & Furious films and iconic comedies like Bridesmaids being removed in December.
On Dec. 1, say goodbye to Bad Boys 2, leaving a hole in the trio of movies, while the original film and Bad Boys for Life remains on the streaming platform.
THE FAST AND THE FURIOUS, Vin Diesel, Paul Walker, 2001 (Canadian Press)
Fast Five will be the only movie in the Fast & Furious franchise left on Netflix Canada when Fast & Furious, The Fast and the Furious, The Fast and the Furious: Tokyo Drift and Furious 7 are all removed on Dec. 3.
It's going to be a tough goodbye to Alfalfa and Darla for many of us who grew up watching the 1994 film The Little Rascals, with the film leaving Netflix Canada on Dec. 3.
In more iconic 1990s movies, Quentin Tarantino's 1992 film Reservoir Dogs, starring Harvey Keitel, Tim Roth, Chris Penn, Steve Buscemi, Lawrence Tierney and Michael Madsen, will be removed from Netflix Canada on Dec. 1
If you're looking for a comedy to watch, a couple particularly popular funny movies are leaving Netflix Canada in December. Say goodbye to the Bridesmaids Dec. 3, and you only have a few days left to watch the White Chicks "A Thousands Miles" scene on Netflix before the movie is removed on Dec. 1.
WHITE CHICKS, Marlon Wayans, Shawn Wayans, 2004, (c) Columbia Pictures/courtesy Everett Collection
When it comes to iconic romantic comedies, Nora Ephron's Sleepless in Seattle is an absolute classic. Unfortunately for Netflix Canada subscribers, the film starring Tom Hanks and Meg Ryan is being removed from the platform on Dec. 15.
The full list of movies and TV shows being removed from Netflix Canada in December:
The fashion industry has a fossil fuel problem. According to the United Nations Environment Programme, fashion is responsible for up to 10% of global carbon dioxide output—more than international flights and maritime shipping combined.
The sector consumes around 100 billion cubic meters of water and produces some 92 million tons of textile waste annually—87% of which ends up in landfills or polluting incinerators. It also accounts for one-fifth of the 300 million tons of plastic produced globally each year and contributes to an estimated 17% to 20% of water pollution through processes such as dyeing.
These figures are set to keep growing: Production of synthetic fibers, which are usually made with materials extracted from fossil fuels, is estimated to increase over the next two decades, while overall apparel consumption is projected to rise by 65% to 102 million metric tons a year by 2030.
In light of these figures and a growing number of sustainable fashion brands, the sector is starting to clean up its act, or at least show consumers it’s trying to do so. Fast fashion has been at the forefront of this change, despite being a main driver of consumerism and waste: Take ultra-fast-fashion brand Boohoo, which this year alone introduced 18,000 new items to its website, while Chinese fashion retail website Shein—which recently came under fire for its unethical business practices—has added over 300,000 styles to its U.S. platform.
Over the past decade, claims about circularity, recycled plastic fibers, and zero emissions have become central to the marketing budgets and business development plans of many high-street companies such as ASOS, H&M, and Everlane. They have published sustainability reports and tout initiatives or collections as environmentally forward.
In many cases, such initiatives are meaningful but not significant enough to compensate for the overall impact of the industry. In September, fast retailer Uniqlo unveiled a 1 million square foot solar-paneled roof on its New Jersey distribution center aimed to provide “the equivalent of enough clean energy to power 500 households a year” and “mark a significant step forward in Uniqlo’s overall climate strategy,” according to a statement. Inditex’s Zara recently committed to make 50% of the items it sells in 2022 with recycled materials and “ecologically grown cotton.”
The H&M Group—arguably the fashion giant that’s devoted the most efforts to track its climate footprint and ensure transparency across its supply chain—has long been running an array of sustainability programs, encouraging customers to bring back unwanted clothes for reuse and using organic cotton and recycled materials for its Conscious Collection since 2010. Still, the retailer is facing scrutiny in Britain, Norway, and the Netherlands over its sustainability claims, and a Quartz investigation published last summer showed that its products’ environmental scorecards were misleading.
But with low prices and rapid consumption at the very core of these companies’ cheap-and-fast business model, can these solutions and impressive-sounding targets ever really mitigate their environmental impact?
The answer is complicated.
“You would have to look at the specific data for each campaign or tack,” says Maxine Bédat, director of the New Standard Institute, a think tank working with scientists and researchers to advance accountability in fashion. “Generally speaking, though, the marketing is often way ahead of any actual capability to shift things. It’s greenwashing.”
That’s not to say companies shouldn’t do it, she adds, “but they should spend more of their money on the actual programs rather than on advertising them to the public. And ask themselves: ‘How does this initiative compare to the scale of progress necessary?’ Ultimately, that’s what really matters.”
That, and ensuring a better, more tightly controlled supply chain.
Cleaning up the supply chain
According to the World Resources Institute, the manufacturing supply chain contributes to 96% of a fashion brand’s environmental footprint. Yet to date, over half of major companies still do not disclose information about their factories.
That’s mainly because there isn’t any legislation requiring it. Most disclosures are voluntary, so brands can continue being reticent about them.
H&M is an exception. The company lists its suppliers on the Open Apparel Registry, an open-source tool that seeks to improve human rights and environmental conditions in and around factories and facilities. It also works with industry group Textile Exchange to evaluate alternative materials that could reduce negative environmental impact. (Uniqlo declined to comment for this piece, while Zara did not respond.)
“The biggest emissions happen when sourcing raw materials and manufacturing fabric and garments,” says Henrik Sundberg, climate impact lead at the H&M Group. “That is why helping suppliers transitioning from fossil fuels to renewable alternatives, energy efficiency, and reducing and recirculating water when dyeing fabrics are some of the areas we are prioritizing.”
The retailer’s Green Fashion Initiative aims to cut emissions across its value chain by helping factories invest in technologies and processes that can reduce energy needs. It’s also the lead founder of the Apparel Impact Institute, whose Fashion Climate Fund seeks to unlock $2 billion in capital to accelerate decarbonization and “drive collective action to tackle fashion’s supply-chain emissions,” Sundberg says.
Veronica Bates Kassatly, a fashion industry analyst and critic of H&M’s sustainability assertions, believes that’s still not enough to move the needle. In fact, she says these efforts may actually distract from the damage fast fashion is doing to the planet.
“Yes, sourcing and manufacturing are the big-ticket items for greenhouse emissions. But where that manufacturing happens—where you spin your yarn, where you do your knitting, weaving, dyeing, and finishing—is far more important than whether you bought organic cotton or conventional cotton, because different countries hold very different power grids, and hence vastly different carbon intensities,” she says. For instance, in 2019 China’s carbon intensity—which measures how many CO2 emissions are produced per kilowatt-hour of electricity consumed—was 701% higher than France’s and 203% higher than that in the U.S.
“H&M has almost none of its factories in France, or Europe, so you do the math,” Bates Kassatly notes. What’s more, presenting material alternatives as more environmentally sound than conventional materials like cotton is misleading, she adds.
“Fast fashion’s extensive use of synthetic materials—and their claim they are sustainable—is hugely problematic,” she says. “Natural fibers like cotton and silk have their own environmental costs, of course, but saying that polyester is better, and that if you switch out your fibers to fossil-fuel–made ones your production becomes magically sustainable is utter nonsense—and based on very insubstantial data.”
‘A very opaque industry’
For much of the past decade, such data was what formed the backbone of the Higg Index, the industry’s leading suite of tools for assessing the environmental impact of all sorts of fabrics and materials.
The system was introduced in 2011 by the Sustainable Apparel Coalition (SAC), an alliance of almost 150 retailers, including some of the world’s largest fashion brands and retailers, from H&M to Amazon. It aims to curtail water use, reduce greenhouse gases, rein in the use of finite resources like fossil fuels, and improve management of chemicals.
Since its launch, however, it has received a fair share of criticism from independent experts like Bates Kassatly, particularly for its Materials Sustainability Index (Higg MSI). That tool has attributed a higher environmental impact to wool over polyester, for example, even though polyester is derived from oil and is a prime source of microplastic pollution. Its manufacturing produces some 40% of the industry’s overall emissions.
In the wake of the recent investigation into H&M’s sustainability claims, SAC pressed pause on the index, announcing it would work through “crucial insights and learnings” from a pilot designed to reposition the rating. Yet to date, the Higg is still what most retailers and policymakers use. The European Green Deal is considering using the Higg MSI data to influence its “substantiating green claims” legislation and Product Environmental Footprint (PEF) tool, which aims to quantify the relevant environmental impacts of products.
“The Higg Index does not consider the full life cycle of each material, or how it was sourced, and collates secondary data from analyses done by trade associations or large fashion companies that may have a vested interest in synthetic fibers,” Bates Kassatly says. “Most of its findings are very narrow in scope, not publicly accessible, and not peer reviewed. It’s a critical tool, and yet, at its core, it’s flawed. Until that changes, I see very little opportunities to move the industry forward, and get consumers to really question the origins and sustainability of their clothes.”
Bédat of the New Standard Institute offers a similar sentiment, though she isn’t as critical toward the Higg. “We need to recognize that a lot of times these tools come out of the industry because the industry knows the information best,” she says.
“As it stands today, fashion is a very opaque industry that’s still largely unregulated,” Bédat adds. “And we can’t expect consumers to take it upon themselves to change it, because they simply aren’t educated enough to do so. The system just has to step up, starting with better ways of keeping itself in check.”
Ultimately, those ways might have to come from the top down.
“This is a profit-driven industry,” notes Bédat. “Whatever these retailers are spending on their ‘sustainability efforts’ always has to have a bottom-line benefit.”
That places a fundamental limit on the degree to which fast fashion—and public companies in particular—can genuinely push for a paradigm shift. Absent government intervention, says Bédat, brands are likely to continue churning out new products at an unprecedented pace and staying vague about their climate footprint.
“Most large retailers will keep not doing enough until tighter policies are in place,” she says. “Better legislation and more stringent regulations are key. Governments need to realize how important the fashion industry is to their climate goals and act accordingly. But I can’t say we’re there yet.”
Target stock has been on a roller coaster ride as the company has warned of inventory issues and a slow holiday shopping season.
Target is experiencing an increase in foot traffic as well as sales for its private-label brands.
Long-term investors could use this pullback as a buying opportunity.
Target released its third-quarter earnings, and the stock took a beating. While their inventory levels have improved since the second quarter, it is still an issue for the retailer. This, along with a weak outlook for the holiday season, scared many investors into selling the stock. But is it all bad news for Target? Or is this a chance to buy a great retailer that Wall Street has oversold? Here is what investors need to know.
Target stock in the news
Target's earnings report for the third quarter of the 2022 fiscal year showed the retailer is still suffering from a slowdown in consumer spending. The most significant sign of troubles was the 2.7% sales growth recorded by the end of October. The stock saw its first precipitous drop in May 2022 and has been on a roller coaster of price spikes and dips. From the news release on Wednesday, November 16 though Monday, November 21, Target has lost 12% of its stock value after it cut its sales forecast for the holiday season.
The company's operating profit margin for the quarter was 3.9%, lower than analysts' expectations of 5.35%. Multiple issues affect Target's ability to turn a profit, and excess inventory has been a large part of the problem. Target and other retailers overcompensated for pandemic-related supply chain issues by over-ordering to keep shelves full. Many stores, including Target, are now facing difficulties getting inventory out of seaports and into the intermodal system for delivery. They’re also facing a general change in consumer shopping habits, driven by higher-than-normal inflation. Target’s now dealing with the cost of storing excess inventory, discounting nonessential items to encourage sales, and facing lower profitability.
Target is anticipating a weak holiday season for sales as inflation has eroded consumers' discretionary income. People are still buying gifts, just fewer of them, as their dollar doesn't stretch as far as it once did. Other retailers like Walmart have a reputation for being cheaper than Target, which has likely contributed to a decrease in revenue for Target. Another issue Target is dealing with in terms of losses is organized retail theft crime, which they estimate reduced their gross margin by $400 million in 2022. Target predicts it will lose $600 million by the end of the year to these criminal networks.
Target's weak guidance impacting other retailers
Target's prediction for a weak fourth quarter also took down other major retailers' stock values. Macy's lost 8.1%, Best Buy dropped 8.6%, and Advance Auto Parts fell 15.1%. Investors were likely worried that these and other major retailers wouldn't be able to meet analysts' performance expectations for the last quarter of the year due to carrying excess inventory and weak consumer spending.
However, it appears Target is facing at least some issues unique to them. Walmart beat earnings per share estimates by close to 14% and revenue by more than 3%. Bath and Body Works beat earnings per share estimates by 101% and revenue by 3%. Macy's beat earnings per share estimates by 273% and revenue by 0.5%. On the other hand, Target missed earnings per share estimates by around 28% and narrowly beat revenue estimates by 0.44%.
Target Income Statement review
Target reported a total of $26.1 billion in sales, a 3.3% change from $25.3 billion in the same quarter in 2021. Its total revenue was $26.5, a 3.4% increase from $25.7 billion in the same period of 2021. Its operating income was about $1 billion, a decline of 49.2% from close to $2 billion in the third quarter of 2021. Its earnings before taxes were $909 million, down 52.4% from $1.9 billion in the same quarter in 2021.
Target reported third-quarter GAAP earnings per share of $1.54, down almost 50% from $3.04 per share in the same quarter of 2021. It reported comparable sales growth of 2.7% and saw unit share gains both in store and online. Target stock paid $1.08 per share in dividends, an increase of 20% from $0.90 in the same quarter of 2021.
Target Balance Sheet review
Target reported having cash and cash equivalents of $954 million in the third quarter, down from $5.7 billion in the third quarter of 2021. It held $17.1 billion in inventory, an increase from $14.96 billion year-over-year, and has total current assets of $20.4 billion. The overall total of Target's assets is $55.6 billion, an increase from $54.4 billion in the third quarter of 2021.
Its accounts payable, accrued and other current liabilities, and current portion of long-term debt totaled $23.8 billion, and its noncurrent liabilities totaled $20.8 billion. Its shareholder's investment in common stock was $38 million, with $6.5 billion in additional paid-in capital, and retained earnings of $4.6 billion for a total shareholders' investment of slightly over $11 billion.
Target stock outlook
An issue Target faces is that it's positioned itself as a more expensive alternative to Walmart. Both carry similar items, but Target’s reputation is that it focuses less on being a one-stop store and provides higher-end goods than Walmart. And it seems price-sensitive customers have switched their allegiance to the lower-cost goods at Walmart. Combine this with Target's over order of merchandise, and you can see the tricky situation they’ve put themselves in.
The only solution for Target has been to discount general merchandise to get it out of inventory. While this will help to lower the amount Target has tied up in inventory, it hurts revenue. The lower the price paid for items, the less revenue Target earns, which impacts the stock price and the company's financials moving forward.
It will take time for inflation to pass and the inventory backlog to ease, but these are short-term issues that eventually work out. Shoppers have yet to abandon Target, as traffic increased by 1.4% year-over-year in the most recent quarter. The company is hoping to save up to $3 billion over the next three years by becoming more efficient and focusing on “reducing complexities and lowering costs.”
Target also owns a number of in-house brands which carry a favorable reputation among shoppers. These private-label products saw sales grow at twice the rate of Target’s enterprise quarter three sales.
The short-term outlook for Target stock is rocky because of the immediate concerns about slowing sales and a poor holiday outlook. The long-term view for Target's stock price is good as the retailer has no plans to close stores, has plans to invest in the appearance of its stores, and has been opening additional sorting centers to take merchandise from stores and deliver it quickly to customers.
Bottom Line
While concerned about the loss of revenue and sales, Target is looking towards the future and is taking the financial hits in stride. The company is still profitable and still gaining market share. This could be an excellent time to buy Target stock at a lower price and hold for the long term once the economy stabilizes and people return to their old spending habits. However, understand that the next few earnings reports the company releases could be bad. But as a long-term investor, these could be considered additional buying opportunities.
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Criminalsin Germany stole 483 Celtic gold coins along with a lump of gold in a heist that took only nine minutes, according to police.
The thieves stole $1.65 million worth of treasures from the Celtic and Roman Museum in Manching, Germany, on Tuesday, according to the Associated Press.
The thieves pried the door open at 1:26 a.m., smashed a cabinet display, stole the goods, and left by 1:35 a.m. without tripping any alarms, authorities said. The deputy head of Bavaria’s State Criminal Police Office said communications networks in the region were cut at about 1:17 a.m., allowing the heist to go off smoothly.
"It’s clear that you don’t simply march into a museum and take this treasure with you,” Markus Blume, minister of science and arts for Bavaria, told public broadcaster BR. “It’s highly secured and as such there’s a suspicion that we’re rather dealing with a case of organized crime."
Officials worry the coins may be melted down and sold away because of how recognizable they are.
Interpol and Europol are working on finding the criminals, with the code name "Oppidum" being used for the 20-person investigative team searching for the stolen goods.
The downtown Vancouver hospital at an epicentre of British Columbia’s mounting toxic drug crisis will soon have a new model to improve substance use and mental health care.
Details from the provincial government, however, remain scarce.
On Sunday, Premier David Eby vowed to integrate services for mental health, overdose response, addiction treatment and housing at St. Paul’s Hospital as part of his Safer Communities Action Plan.
“We are working with St. Paul's to create a seamless treatment stream so when people show up at the hospital in distress and with issues around addiction and mental health that they can move directly to detox and into treatment,” said Eby from Queen Elizabeth Park.
“This will be a model that we can roll out across the whole province.”
St. Paul’s, run by Providence Health, responds to a high volume of patients in mental health crises or experiencing drug poisonings in Vancouver due to its proximity to the Downtown Eastside.
It has the largest inter-department division of addiction medicine of any hospital in Canada and has become a hub for new models in caring for marginalized patients.
In 2016 St. Paul’s opened the Rapid Access Addiction Clinic that provides low-barrier outpatient services for people using substances. The hospital is also home to the Transitional Care Centre for unhoused patients moving back to community care and the Hub, which diverts patients in need of mental health and substance use care away from the emergency room.
Demand for these services has ballooned far beyond capacity in recent years. Wait times for referral to withdrawal management and detox spaces for people who want to stop using drugs start around six weeks.
Providence estimates the number of visits for mental health and substance use concerns including drug poisonings has increased 70 per cent in the six years since the RAAC opened.
The Tyee contacted the Premier’s Office for more information about how this new model will work and overcome the capacity and resource barriers plaguing St. Paul’s now.
The request was referred to the Ministry of Mental Health and Addictions, which said more information about the model will be available in the coming months as the ministry works with Providence Health and Vancouver Coastal Health.
“We know more needs to be done, particularly to streamline access and fill gaps between services, so that people can seamlessly move between detox and treatment services,” wrote a ministry spokesperson in an emailed statement.
‘Nowhere to go’
Frontline workers and advocates for drug user rights say improvements can’t come soon enough, but they need to be done in consultation with people with living experience.
Many people who need a safe place to heal and rest are discharged early due to capacity issues, unless they can prove they present an immediate danger to themselves or others, said Sarah Blyth, executive director of the Overdose Prevention Society.
“Often someone will go to St. Paul’s in an emergency mental health situation and get medicated and tossed out within 24 hours,” said Blyth, noting this trend has only increased as the toxic drug supply has driven more drug poisonings.
People leave traumatized and discouraged from accessing essential medical care for even physical ailments like infections or injuries that can turn fatal. “How do we expect people to get well or feel better if they have a huge infected leg and sleep in an alleyway?” said Blyth.
“The unintended consequences of doing nothing are what we’re seeing now.”
Gary Davison went to St. Paul’s for health care many times when he was actively using drugs, and rarely felt he got the care and support he needed.
But he remembers walking back to the Downtown Eastside from St. Paul’s one rainy winter evening without any warm clothes. The hospital had provided him a bus ticket but it was so late transit had stopped running.
“It would help a lot of people if they could say, ‘I am not feeling well,’ and there was somewhere for them to stabilize and feel better,” said Davison, who has been a frontline harm reduction worker for more than 25 years.
“Instead you’re walking to the Downtown Eastside to sit in an alley because you have nowhere to go.”
Davison is now in recovery and takes Suboxone, an opioid substitute therapy. He says timeliness of detox, treatment and housing options are essential to saving lives.
“You don’t have it unless you have it when people need it,” Davison said.
On the campaign trail, Eby drew criticism from drug users and civil liberties groups for suggesting forced treatment for people who overdose multiple times in one day.
Blyth says the province should focus instead on creating care that is good and welcoming for people who wish to stop using drugs. And safe supplies of tested, uncontaminated drugs need to be readily available to save the lives of people who can’t or don’t want to be abstinent, she said.
Hospitals should develop care and detox options that “make people want to stay,” said Blyth. “You don’t have to make it mandatory if you make it good.”
She worked in the Downtown Eastside when Eby was working as an advocate for Pivot Legal Society and directing the BC Civil Liberties Association. Blyth says Eby’s knowledge of the neighbourhood and the issues is unparalleled in government, and she is cautiously optimistic he will make meaningful change.
“We have a lot of work to do, and David Eby has a lot of work to do,” she said. “We know he’s very capable, and if he puts his mind to it, we have faith.”
So I turn on TSN.ca and they’re advertising USA vs England, not this hockey game. Even the people who paid to put it on the air aren’t interested in Friday afternoon hockey.
First Period
Lovely tribute to Börje Salming from the Wild rink announcer. Thank you, Minnesota.
The game starts with a lot of quick action, but not serious scoring chances. The pace is enough to inspire the fans to boo Mac Hollowell when he hangs out behind the net forever while the Leafs do the world’s slowest line change.
The Matthews line gets Marc-Andre Fleury to scramble a little. His pads should be illegal, however.
Mitch Marner is not afraid of that orange, though. He shoots it clean from the half boards, and it may have deflected. For now it’s Marner’s goal:
1-0 Leafs
(Sorry for the lack of Omar, blame the NHL)
Replay shows it going off of Matt Dumba’s leg.
I’m watching Justin Holl and Mac Hollowell defending against Kirill Kaprizov. Eventually, Mark Giordano gets out there, but, um, don’t do that, Leafs.
Jordan Greenway high sticks Rasmus Sandin and then gives him the freebie shove to the ice that you’re allowed to do because the arm’s already up. Greenway sits, Sandin goes out with PP1.
The Wild PK is okay, the Leafs get a few good looks though.
Toronto instantly takes a penalty as Holl smacks Kaprizov in the face with his stick and gets in a freebie trip. Which turns out not to have been a good idea. Holl sits, and Kaprizov immediately goes out and does this on the power play:
Tie Game
Mike Johnson makes a point about Marner’s aggressiveness on this PK, and I think it’s both a valid criticism, but not a thing Marner is often guilty of. He knows how to time the aggression better than that.
Zach Aston-Reese is playing tough on the boards when Kaprizov just hands him the puck back, and Fleury is just not on the ball here.
Terrible angle on that one, this is actualy better:
2-1 Leafs
The Leafs are just walking in and shooting here. This is not the Wild defending I was expecting.
Kaprizov — okay I get it now sounds like he’s the only guy on the Wild, but he kinda is — he is allowed to bang away right from the doorstep, but Matt Murray keeps the door firmly shut.
Thoughts
That all felt very Leafs-heavy to watch, let’s see what the number say:
Definitely yes on the Leafs being able to walk in and shoot, but the Wild had a significant shotshare advantage at 21 - 13 or 62%. Their xG% was only 56%, however; a continuing problem for them this season.
Those shots by the Wild coming from the corner — looking for someone in the slot — are really interesting, and the Leafs should try to intercept that for breakaways. Not that they cheat high with right wings or anything, but maybe Nylander might want to cheat a little less high.
I looked on Moneypuck.com to see who that was: Erickson Ek, Petan and Shaw. There one shot from the other side, same area, from Gaudreau. While I was there, I looked at the shots in tight to the net, Minnesota’s four good chances. Two were Kaprizov, one Zuccarello, and one Steel. That line is all they have.
Holl gets a high-sticking and then the refs naturally let him get away with tripping Kaprizov on the delayed penalty entry....Wild PP
Not my favourite reporter, (massive, massive understatement), but guess if he noticed the exact same thing happen on the Wild penalty?
Second Period
So, about those plays that start up in the corner. The pass that makes this goal easy for Matt Boldy isn’t as deep as those shots were, but it’s nearly there.
Tie Game
Boldy is in his second NHL season, and is pushing to be the second-best forward on the Wild.
Murray kicks the net off with almost no pressure. That’s a faulty install. In other news, I’ve had more than enough Mac Hollowell, the weak link in the rush that saw Murray sprawled out and swimming for it.
The Leafs get a flurry of offence during a change in shift that is — to be honest — pretty damn inept. There have been times where the defenders are making the forwards look confused.
Sandin has hurt himself in some way, stepping on a stick. He had to do the splits, and has taken some time on the bench to stop looking like he should go down the hall.
Sandin is out on his next shift, so fingers crossed.
Yeah. That’s the stuff. The play starts way back before what you’ll see below, but it was an entire series of sharp, accurate passes, and smart plays. Was the rebound out to Calle Järnkrok a nice break? Sure, but you have to be there to take advantage.
3-2 Leafs
Timothy Liljegren knocks Ryan Reaves off the puck, and pays the price. The price is a power play to the Leafs when Reaves trips him.
Oh, this is just bad, though. The Leafs spend close to a minute gaining the zone and never get a shot. PP2 is a little better. Will this end that weird thing where everyone wants Morgan Rielly replaced? Nope. It should, but nope.
Back at five-on-five, the Leafs gain the zone, and pass it low to high, and I had this moment of total relief that it was Holl over there not Hollowell.
Mete and Hollowell do a very good job of cycling with the Holmberg line against the Wild depth.
Fleury whacks at the Leafs, loses his goal stick, and meanwhile Merrill takes a tripping call. Leafs power play gets another look. Much better this time, with Marner and Matthews doing the entry.
Kerfoot misses the puck, and the Wild get a shorty break. Murray has this one cold. Not a great power play, but the period ends with the score tilted the right way.
Thoughts
That period really was dominated by the Leafs with 67% Corsi and 75% xG.
I think one of the reason’s that’s true is that the Kämpf line is doing decently well at holding off the Steel line (Kaprizov is on the wing on that one). Matthews is seeing that line a lot too, and doing less well.
Matthews real problem, though is that Jared Spurgeon and Jake Middleton own him out there. If he and Nylander seem a little invisible, that’s why.
Tavares, meantime, is rolling along facing Freddie Gaudreau, Jordan Greenway and Matt Boldy, and everything is coming up goals for his line.
Meanwhile, those deep corner shot-passes? The Wild never did one all period. They don’t need to, the Leafs defence is allowing them to walk in and shoot even more than the Leafs are enjoying.
Third Period
Somehow Sandin has lost his stick. For real, it’s gone, through the camera hole. The photographer looks like Nylander’s stunt double too.
Murray knocks the net off for the third time. This one with an elbow, and it looks on purpose, but the nets are also just loose here. The crowd is irate! Minnesota irate, not New Jersey irate. This fellow wants to speak to someone’s manager though:
So, to recap, Murray intentionally ruined a Wild scoring chance in the second period by knocking the net and ended a minute shift by the Eriksson Ek line by doing the same thing one game after doing all the same stuff in New Jersey. And the refs ignore it
Kerfoot snaps Nic Petan’s stick and goes to sit and think about why he’d take a penalty against Petan.
We start with a Kaprizov chance right off the face off. Aston-Reese clips him with the stick and gets away with it.
This is a terrible PK so far. Some dummie in the preview said this might be a special teams battle, and the Leafs are terrible at both kinds and winning, so that person should shut up now.
Aston-Reese goes on a sweet shorty break, and he is sort of brought down by Marcus Foligno, sort of by how he’s skating, and he crashes Fleury. Aston-Reese hits the post hard.
Because I called the PK terrible, it morphed into a shooting competition by the Leafs. So maybe that preview person wasn’t totally wrong.
Twelve minutes left in this period, and some sustained puck control by the Leafs would be awesome now. The Tavares line comes out and obliges me.
Oh beautiful. Now, I’ll preface this by saying that the Matthews line has been very visible this period. Nylander comes in off the bench, and easily gets it past Fleury.
4-2 Leafs
The whistle goes because the net is off behind Fleury. That would be the one that popped off when Murray bumped it with his pads.
Murray knocks the net off again with a normal goalie movement where they push off the post. It’s the net, not the goalie. The net is supposed to be up to that level of pressure.
We go live to Michael Russo, though:
After a very long overdue repair to the net, we get to finish this game.
The Wild pull the goalie, and use the extra man well. This is a really good passing play, and Kaprizov and Zuccarello are too good for the Leafs.
4-3 Leafs
The Wild keep Fleury out, and the Leafs have to hold on for two minutes. Murray with one big save, and he’s the first, second and third star for me.
And that’s the ballgame, let the carrying on over nets commence all over the place.
Thoughts
I can’t believe this defence corps is functioning, but it is.
Odds and ends on the local arts and entertainment scene, including upcoming shows by Globe Theatre and the Regina Symphony Orchestra.
Cast members rehearse for Globe Theatre's Christmas production last year at The Artesian.Photo by TROY FLEECE /Regina Leader-Post
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As of Wednesday, it was already over 80-per-cent sold out.
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The show includes two pieces by Canadian authors to be performed in the spirit of old-fashioned live radio plays, featuring musical elements by actors who play multiple parts and sometimes do their own sound effects.
The cast comprises: Kris Alvarez, Skyler Anderson, Sarah Bergbusch, Sierra Haynes and Ruardih MacDonald.
The show commences with a performance of Thomas King’s classic children’s book, A Coyote Solstice Tale.
According to a media release: “This sweet, heartfelt and comedic story follows Trickster Coyote as he learns that finding peace and goodwill during the holiday season always begins with family and friends.”
The second half features a performance of W.O. Mitchell’s A Voice for Christmas, taken from his Jake and the Kid series.
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“Set in the 1940s, Jake has one Christmas wish — to talk to his father for the first time since he was sent off to war,” says the release. “This timeless tale of family, love and perseverance will remind us to never take connection for granted.”
The Regina Symphony Orchestra continues its Classics Series on Saturday night with a celebration of Jewish music at the Conexus Arts Centre.
The show includes a selection by award-winning Ottawa composer Kelly-Marie Murphy, who’s slated to take part in a pre-concert chat with conductor Gordon Gerrard (6:45 p.m.).
Murphy’s piece is titled En el Escuro es Todo Uno (In The Darkness All Is One). It was awarded the Azrieli Commission for Jewish music in 2018.
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“When Kelly-Marie writes a new piece, I always make sure that I hear it,” Gerrard said in a media release. “We’ve played quite a bit of her music at the RSO. She creates unique and beautiful sound worlds in everything that she writes.”
The RSO will be joined by Couloir, an internationally renowned duo from Vancouver — Ariel Barnes (cello) and Heidi Krutzen (harp).
“The idea of a double concerto for harp and cello especially grabbed my attention even before I heard it,” Gerrard said. “The piece has a tremendous energy, colour and warmth. I can’t wait for our audience to hear it.”
RSO will also be performing Symphony #4 by iconic composer Gustav Mahler, who faced antisemitism throughout his life. He converted from Judaism to Catholicism in Vienna during the late 1800s so he could secure a job.
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“Even though Mahler had a complicated relationship with his identity, there is no doubt that he was Jewish,” Gerrard said. “His struggles and his triumphs can be heard in all of his symphonies. This program is intended to celebrate contemporary Jewish life and experience with music that is both new and old. Both Kelly-Marie’s concerto and Mahler’s symphony lift us up with undeniable optimism and hope for a brighter tomorrow.”
Meanwhile, the RSO’s Baroque Series opens with two shows on Dec. 3 (2 p.m. and 7:30 p.m.) at the Holy Rosary Cathedral. The Christmas Concerto features celebrated guest conductor Kathleen Allan of St. John’s, NL.
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SaskExpress is presenting its latest musical — actually, it’s a Seussical — from Dec. 1 to 11 at the SaskExpress Theatre (2272 Pasqua St.).
Ten shows are to run over 11 days in Regina, followed by performances in Yorkton (Dec. 13, Anne Portnuff Theatre) and Weyburn (Dec. 15, Cugnet Centre).
“A musical perfect for the whole family, Seussical takes us into the world of Dr. Seuss …,” said a media release. “Now one of the most widely produced musicals in the country, Seussical weaves a story of friendship, loyalty, and love. Charming Seussical teaches us the power of being unique, and the importance of fighting for your beliefs.”
It’s the end of an era for the Alley Dawgs, who’ve been hosting Honky Tonk Tuesdays in Regina since 2015.
The Regina-based band recently announced it is going on an “indefinite hiatus.” The group’s final three shows are slated for Dec. 6, 13 and 20 at The Fat Badger.
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Regina’s On Cue Performance Hub is presenting a trio of new dance performances by Kathryn Ricketts and friends.
Blomster | Garden Plots | Land(ing) runs Dec. 7-9 (7:30 p.m.) on The Docks at Local Market YQR.
His vision isn't what it used to be and it's a little harder for him to hear, but Harold Kearl still lives alone and cooks his own meals.
That's impressive for someone who will reach 100 years old on Dec. 10.
"Well, I can do what I did, but much slower and with good judgment and you don't turn fast," he said.
"And you don't misuse your energy, because you know that you have limited power, so you're doing things within your means."
His oldest son, Eldon, lives across the street and the two visit regularly.
"He is the living model of how to live successfully to old age and be involved in his community, his church, and he keeps up on current events," Eldon said.
Up until four years ago, Harold was shovelling Eldon's and his neighbour’s sidewalks after a snowfall.
"He shovelled my walk when I was working," Eldon said.
"But I said, 'Dad, you don't need to be out shovelling walks.' It's embarrassing when he's 95. Now that he's 99, he slowed down."
Harold grew up in Cardston, Alta.
In 1940, he decided to follow in his older brother's footsteps and become a Royal Canadian Air Force pilot, flying day- and night-time bombing missions over Germany.
He remembers one night flying over the North Sea with his crew.
"We're supposed to fly 15 minutes in cumulonimbus clouds – lots of things can happen," he said.
"The first thing that happened, the artificial horizon, which we had to keep our wings level, stopped working. All we had to go by was needle ball and airspeed, which I learned when I took beginning flying."
He says he talked out loud to himself to build his confidence and successfully made it back to base safely.
During the war, he flew a number of aircraft and enjoyed the Halifax and Lancaster bombers.
He remembers taking a friend up in a Lancaster near the end of the war.
"I'm going over the Rhine on a pleasure trip," he said.
"We won't carry bombs, we'll be flying low and as we fly over the North Sea or the English Channel, you will get a little bit of spray from the water below. Well, I says, we're just washing the window a little bit."
After the war, Harold kept flying in Europe, taking supplies to cities and towns in Germany for the Allies.
"Flying DC-3s, a two-engine aircraft, was the highlight of my air career," he said.
"Because I had planned that in my mind, that I needed to fly in Transport Command, because they had stations in Hamburg, in Brussels, in Berlin, in Vienna and we flew in those cities in northwest Europe carrying mail, light freight and some important people."
After the war, he kept flying and became an instructor at the Calgary Flying Club.
He worked as a salesman in construction and the oil patch, then eventually moved on to real estate.
Eldon says the family is hosting an open house on Dec. 10 to celebrate Harold’s 100th birthday.
Eldon says he's inspired by his dad and all he's achieved.
"He's been a very conscientious father," Eldon said.
"He looks after himself and he looks after his family."
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