Wednesday, January 14, 2009 | Categories: Episodes
It's Wednesday January 14th.
The upscale department store Neiman Marcus has announced it's going to cut 400 jobs across the United States because of slumping sales.
Currently, a spokesperson for the store said the company had its own stimulus package, but she went back to govern Alaska last November.
This is the Current.
Vancouver Olympics Trouble - Reporter
When city officials dream of hosting the Olympic games, they often gloss over the financial challenges that come with it. Seven years ago -- when Vancouver's bid committee was still making its case for the 2010 Winter Olympics -- the head of the committee predicted that even in a worst case scenario, Vancouver would break even on the games.
But now, Gregor Robertson -- Vancouver's Mayor -- says that the city's taxpayers could be on the hook for as much as $875-million-dollars in order to complete the Olympic Village. Others -- including a former Mayor -- say the city will still come out on top in the long run. But even the mere whiff of a cost over-run has some residents a bit rattled. We aired a clip of Vancouverites reacting to the possibility that they could be on the hook for up to 875-million-dollars to cover next year's Winter Olympics.
Vaughn Palmer has been covering the wheelings and dealings around the games since the very beginning. He's a columnist with the Vancouver Sun and he was in Victoria.
Vancouver Olympics Trouble - Former Mayor
Potential cost over-runs and tumbling real estate prices have spooked a lot of people in Vancouver. But Phillip Owen still believes that the 2010 Olympics will still break-even or even make money. He was Vancouver's Mayor from 1993 to 2002 and he was in Vancouver.
We requested an interview with the city's current Mayor, Gregor Robertson. But he was unavailable this morning.
Water Piracy Documentary
In the Pakistani city of Karachi, finding a glass of clean drinking water can be an enormous struggle. Water shortages and a lack of basic infrastructure have created an underground economy based on theft and corruption. Freelance broadcaster Naheed Mustafa has prepared a documentary about Karachi's water woes. It's part of our on-going look at water issues called "Watershed." Naheed Mustafa joined Anna Maria in studio to talk about her documentary, The Water Merchants.
Federal Securities - Diane Francis
People have been talking about streamlining Canada's financial regulatory system for more than half-a-century. Expert panels, reports and studies have come and gone. But with a global financial crisis affecting so much, Finance Minister Jim Flaherty is hoping that this time will finally be different.
Earlier this week, a government-commissioned panel recommended the creation of a single securities regulator for all of Canada ... one body that would oversee the trading of all stocks and bonds in Canada. Right now, Canada has 13 separate regulators ... each covering one province or territory. Canada is the only country in the G7 without a national securities regulator. And Diane Francis argues it's time to change that. She's Editor at Large with the National Post and she was in Toronto.
Federal Securities - Critic
As you heard, some investors have been frustrated by the lack of a single, national securities regulator... Stan Buell is the president and founder of the Small Investors Protection Association. It's a national non profit organization based in Ontario. We aired a clip with his argument on the matter.
Some provinces -- such as Ontario and B.C. -- support the push for a national securities commission. But Quebec, Manitoba and Alberta are opposed. Alberta's finance minister, Iris Evans says she would go to court to fight the proposal. And if she does, she'll have Bill Rice's support. He's the chair of the Alberta Securities Commission and he was in Calgary.
Federal Securities - Pro
Well we wanted to give the final argument on this over to the chair of the Expert Panel on Securities Regulation in Canada, Thomas Hockin. He was also a Finance Minister under Brian Mulroney and he was in Toronto.