Job losses not ratlling Yellowknife Retailers Yet

Summary:

This article talks about the retailers in Yellowknife and how they are being affected by the job losses in Canada. The losses of the job are just not in Canada, in fact this is happening all around the world. This is mainly being impacted in big industries. Looking at the Statistics Canada shows that the rate of the unemployment rose to 7.7% during Feburary, up 0.5% from January. It is mentioned that January and Febuary caused the most affect in people's businesses. During the interviews made by the CBC News, Doug Witty said that "The retailer's side is a little soft, but it is not horrible yet." Witty also shared that he had to lay off 4 of his employees and close one of his business as well. He also had to reduce the inventory for the summer.

Connection:
In chapter 11, we learned that there's the beginning inventory and ending inventory. If someone reduces their inventory because of job losses, there will be less amount of beginning inventory and the merchandise purchased / sold, so the result will be that there will be less amount of ending inventory which would affect someone's business.

Conclusion:
In my opinion i think recession has changed a lot. Not just here in Canada but all around the world. People lost their job and there they are just sitting home helplessly, hoping that everything would go back to normal soon.


http://www.cbc.ca/canada/north/story/2009/03/13/nwt-retail.html

Air Canada Targets for Better Balance Sheet

Reflection

Air Canada is saving up $500 million in the next three years, to improve its balance sheet. This is being done by cost cuts which are,operation from it's scheduling, fleet, routes, and food supply. "Raising the new liquidity provides us with a window of opportunity to make structural changes which we cannot and will not squander," says the Air Canada's chief executive, Calin Rovinescu. These cost cuts dont NOT include labour cuts. It is said that the passenger revenues have lowered by 16 per cent which is $396 million from last year. Air Canada as well as West Jet are participating towards improving its balance sheet.
In my opinion to improve the balance sheet of Air Canda is really good, since everything in the daily life has increased its price. During this balance sheet the service of Air Canada would be the same even with a less amount of money. Because of this many people will take advantage and enjoy their service and flight more.
This change is not only good for higher society people but also good for average people. Who live with the same labour price just having the other daily prices increasing. The benifit of this is that because Air Canada is participating in this more airline would as well .Which would make a difference in the prices of flights, and more people would travel without worrying about the cost of the tickets.

Reference: www.vancouversun.com/business/Canada+sets+course+better+balance+sheet/1877394/story.html