JP Morgan, one of the biggest investment banks in the world.

The economy has been suffering ever since the 2008 debt crisis. Most of the problem was in the fact that major banks were offering credit-default swaps, which basically were counting on the fact that businesses were going to fail. The banks sold billions of dollars’ worth of these and when the market started to crash, the government tried to save the entire banking system.

J.P. Morgan was involved in this and bought Bear Stearns in order to help stop the crash of the economy. Recently, they have agreed on a $4.5 billion settlement deal with 21 institutions. They have also agreed to a separate $13 billion dollar deal with the government.

A J.P. Morgan spokesperson, Jennifer Zuccarelli said, “This settlement is another important step in JP Morgan’s efforts to resolve legacy related matters, stemming from mortgage-related securities”.  The bank will reimburse investors that put money into over 300 mortgage-backed securities.

This will not fix all the damages occurred from the 2008 debit crisis, but it will go a long to trying to bring about a stronger economy.

Picture-J.P. Morgan 

Krispy Kernels, a snack maker originated from Quebec, is under fire. The company reintroduced their logo of a cartoon Aboriginal boy in a loin cloth and feathered headdress. The logo had been in use since 1959 but disappeared from shelves in 1990 after the Oka Crisis.

Vintage bags of Yum Yum.

The Oka Crisis was a conflict between the Aboriginals, the Quebec government and the Canadian military. A golf course had been built on top of a burial ground, and the government refused to return the land to the First-Nations people, which lead to a police officer being shot.

The company is experiencing mixed emotions from the public. Some people welcome the change for nostalgic reasons. Others were horrified and called the logo a racist stereotype.

The company maintains that it is a tribute to the original creator of the product, who was most likely an Indigenous person. They also said that it was, “a homecoming for Yum Yum. It is witness to our roots and our origins. A nostalgic look at our history, but also an opportunity to revive the memory of our customers.”

Whatever the case, the throwback came at a bad time. With the Truth and Reconciliation Commission gathering steam and people being more conscious of history and stereotypes, the backlash can have a huge negative impact on the company.

Picture- Krispy Kernels

Blackberry has been struggling to remain afloat these last few years. With steep competitive from Apple and Google Android, sales and stock have plummeted. Recently, Manulife Financial bought into the $1 billion bond deal to turn Blackberry from a public company back to a private one.

Manulife, an insurance company, invested $70 million into the deal along with Markel Corp., an insurance holding company, and Brookfield Asset Management. Fairfax Financial Holdings Ltd. Is leading the financing for the debt after deciding not to buy Blackberry outright.

Blackberry has been struggling for a while now. They cut 40% of the company’s workforce, after bad sales of their Z10. They have also turned away from the consumer market, and have turned to the corporate one and will focus on software to manage and secure mobile devices for workers.

Blackberry also wrote an open letter to consumers reassuring that Blackberry is still dependable. In it, they acknowledge the steep competition and state, “We are making the difficult changes necessary to strengthen Blackberry”.

Only time will tell if Blackberry survives, let alone become as successful as they were. They will have to be innovative and find a competitive edge that lets them compete with Apple’s and Google’s technology.

Picture- Blackberry

In today’s workplace, managers and team leaders face many challenges when it comes to motivating their workers. In the past money was used as an incentive for better quality results, more production of goods, and more empowered employees. This may not be the best path to take however.

Dan Ariely giving a TedTalk.

According to Dan Ariely, in a TedTalks blog, “when we think about labour, we usually think about motivation and payment as the same thing, but the reality is that we should probably add all kinds of things to it: meaning, creation, challenges, ownership, identity, pride, etc.”.

If we feel like a part of a company, we will work harder to create things of value for them. The top three studies in the TedTalk, conclude that we feel pride in accomplishing a hard task; when we feel our work is more appreciated, the less money we want for it; and when we see the results of our hard work we become more motivated.

These results are common. If we feel we have given something of importance, the feeling of accomplishment replaces the need for a larger salary. People always say “do the job you love”. If managers can make their employees love their jobs, only good will come from it.

You can watch the TedTalk here.

Picture- TedTalks

Our world is constantly changing and new issues are always surfacing. Companies have to make sure they are making a positive impact on our world. In Priyanka Vasudev’s blog she discusses the environmentally friendly practices Tim Horton’s has. They have made sure to be responsible ethically, socially and environmentally. They have established the Tim Horton’s Children Foundation in 1974, as well as the Tim Horton’s Coffee Partnership. All of their packaging is made of fully recyclable materials.

Nowadays, many companies are becoming more sustainable to become more competitive. If your company stands for something, there is more value in your product. “The key things are that you need to make sure sustainability strategies meet the company’s overall goals,” said Tim Faveri, Tim Horton’s Director of Sustainability.

When a company gives back to individuals, to its community, and to our planet, legitimately, it means a lot. It means, especially for the big corporations, that they care about something other than the bottom line. One small action can generate huge rewards, and corporations who are socially responsible believe in this.

Picture- Tim Horton’s

Urthecast, a company started by Sauder graduate Wade Larson, has their high and medium resolution cameras en route to Kazakhstan from Moscow. The two cameras passed their second and final test and completed one of the finale steps before the launch to the International Space Station in November.

Urthecast is making history. It will offer the first HD feed of earth available 24/7 online. In the past, potential consumers have been skeptical about this ambitious project. As it stands, the stocks are offered at $1.95 CAN a share (with less than 200,000 shares available). To make revenue it would offer collected data and imagery to private companies and governments, as well as make money through advertisements.

This project is impressive, and to see the Earth in almost real time-to see events as they unfold-would be amazing. The revenue streams of the company seem a little vague, but it offers a unique perspective of our world. It certainly has a point of difference, since the only way to get a better view would be to go up to the Space Station yourself.

Some of the many injustices Oxfam is trying to solve.

Oxfam is a charity that works for global change, the elimination of poverty, the end to injustice, and wants equality for all. It helps people in over 90 countries and affects millions of lives. Recently, however, its income from fundraising and shops has fallen by over £18 million in the last year.

Mark Goldring, the chief executive, believes that it’s due to a lack of knowledge; volunteers and customers don’t know how their money is being spent. He said, “We need to show both the volunteer and the customer a bit more about the difference [their contributions] make day to day”.

People like to know what value they are getting for their donation. The charity needs to have a strong image as well as be very specific on where and how their money is being spent. The public needs to be reminded, even in these tough economic times, that there are people worse off than they are and that they can make a huge impact in lives of people either in their neighbourhood or across the world.

Picture- Oxfam

Cinnabon is everyone’s favourite indulgence. With over 500 bakeries, it’s hard to resist. The brand has rapidly expanded since its opening in 1985, with stores in mall food courts, a move to supermarkets, partnerships with fast-food chains such as Burger King and affiliations with popular brands like Pillsbury. They also added a variety of products including deluxe and miniature versions of their classic cinnabon among other products.

Kat Cole is Cinnabon’s president. She demonstrates what brand power and hard work can achieve. In late 2010, she was hired as Cinnabon’s chief operating officer, and three months after finishing her MBA, she was promoted to president. Under her guidance the chain has doubled and is open in over 54 countries. It has also reached the $1 billion mark in retail sales.

While under fire for the health risks that an 880 calorie cinnabon poses, both Cole and buyers were horrified. “Don’t mess with perfection”, said one respondent. The brand has reached its loyal customer base through numerous channels and is fulfilling that need for a delectable experience that each bite affords. Its’ main purpose is to offer each customer an escape into the heavenly pastry, and Cinnabon does its’ job well.

Picture-Cinnabon

Mourners outside a collapsed building in Bangladesh on May 14, 2013.

In Manveer Tatla’s Blog, she discusses the accountability employers have to their employees. In a fire, in a building Wal-Mart had used and reportedly closed for their clothing line, “Faded Glory”, 1,100 workers had been killed. Manveer states that, “Wal-Mart has the social responsibility to ensure that all of its workers, worldwide, work in a safe environment”. I agree with this statement, and I think companies should not take their employees for granted or blindly assume that their actions don’t have consequences.

This is not the first instance of unsafe working conditions. In Bangladesh alone approximately 1,800 employees have been killed in building collapses or fires since 2005. This and other incidences has prompted many large clothing corporations, including Calvin Klein and Tommy Hilfiger, to sign an agreement in which they will refuse to do business with factories that will not make improvements to factory conditions as well as offer up to $500,000 for repairs and inspections into retailers’ factories.

Hopefully these incidents will motivate other retailers into action to provide safe conditions for employees all around the world.

Sources:

Global News Article

A Google Street View car equipped to take pictures.

In a world where technology is improving at a rapid pace, ethics are often left behind. This was the case with Google’s Street View. The internet giant is in court over its illegal usage of emails, documents, phone calls, and other personal information from home computers.

Google has argued that all their information was easily accessible off Wi-Fi networks and does not violate any laws, but this has been rejected by the Court of Appeals of the Ninth Circuit.

Kathryn Barnett, who works for Lieff Cabraser Heimann & Berstein, a firm working for the 22 plaintiffs said, “Although technology continually advances, the right to privacy in our homes endures.”

When so much of our lives are shared on the internet, privacy is very important. Just because you can access someone’s information, doesn’t mean you should. Everyone has secrets and sometimes they should stay hidden. This is especially disappointing since the people that are being violated are Googles’ own users. People want their privacy respected, and it shouldn’t be such a struggle to comply.

With the lawsuit moving forward, hopefully more effective policies to help maintain the secure privacy of the public will be introduced.

Picture- L.A. Times