[News] CSEC announces an income bridge support program for part time employees

[Kidder]

With True North reversing their decision we can now collectively, as Canadian Hockey fans, point and laugh/chide at Melnyk and the Senators.

Ahhh, order is restored.

[jayswin]

If Goflamesgo is still reading, I think the local food bank would be overjoyed as they've been decimated by Calgary's economy for four years and now this. That would be the greatest thing that could be done with that money in this city. They are desperate and this would truly be uplifting for those guys and the families.

Flames foundation does great work, but is nicely funded and chugs along with all their local corporate business connections and mingling while the food bank is bleeding and so many are hurting because of it. I'd love it if you tried an amendment to your statement with the explanation. I'm sure everyone would be happily on board.

[troutman]

Originally Posted by IamNotKenKing

Thanks for the laugh, I needed that...

You laugh, but it has begun.

https://bc.ctvnews.ca/b-c-union-call...ends-1.4854232

The CEO of Canada Mortgage and Housing Corporation, Evan Siddall, said in tweet that his agency will support lenders in allowing deferral of mortgage payments for up to six months for those affected by the coronavirus.

In Vancouver and some other Metro Vancouver municipalities, renters can get emergency help from a rent bank, a source of short-term funding for renters who risk being evicted.

[mrdonkey]

Originally Posted by troutman

These are unprecedented times. I expect we will see relief offered from creditors, lenders, landlords, tax collectors etc.

You have a lot more faith in capitalism than I do, friend.

[1_Flames_Fan]

Too late but better than nothing I guess

[jayswin]

Originally Posted by mrdonkey

You have a lot more faith in capitalism than I do, friend.

Most of these measures are being put in place so these companies can continue to receive money from their customers in the coming years rather than lose them to bankruptcy.

99.9% of moves and measures made in the corporate world during times of plenty and times of need are made to benefit corporations.

[Strange Brew]

Driving your customers away, or into bankruptcy, is bad for business.

Which is actually why I trust capitalism.

[GioforPM]

Originally Posted by jayswin

Most of these measures are being put in place so these companies can continue to receive money from their customers in the coming years rather than lose them to bankruptcy.

99.9% of moves and measures made in the corporate world during times of plenty and times of need are made to benefit corporations.

Yes. I work in the world of bankruptcy and receiverships and it’s true. NOt only do banks and other creditors act with some understanding during these kind of events, it’s in their interest to do so. What happens if loans are called right now? The banks lose a customer, they lose the interest they were making and they probably don’t get their principal back. Heck, they can pay more in receivers’ fees that they get back on the collateral. This happens even without a pandemic. Times can get so hard banks are essentially unable to act. And in these times it would be terrible PR for banks to act precipitously.

[Cecil Terwilliger]

CEO John Bean emailed me back with a longer response. Still obviously a form letter but appreciated nonetheless.

Thanks for your email, I appreciate your feedback.

It has been a difficult and challenging week for all of us in Calgary. We are working diligently to navigate through this unprecedented and uncertain situation to do what is best for all of our CSEC team members.

We have announced an income bridge support program for our part-time employees. Details on this program can be found at https://www.nhl.com/flames/news/csec...es/c-316170828

The health, safety, and well-being of our fans, staff, and players remain the most important priority of CSEC. We are continuing to monitor the ongoing situation and evaluate solutions to help us find the best path forward through this very fluid situation.

Again, I appreciate your feedback. We hope that you and your loved ones are well and that you are staying safe through this difficult time.

Thank you.

John Bean