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.