logo
What will happen if Canada Post workers reject 'final offers'?

What will happen if Canada Post workers reject 'final offers'?

National Post3 hours ago
Labour experts say another postal service strike is unlikely after unionized Canada Post workers rejected their employer's latest round of offers in a forced vote and the parties mull their next steps.
Article content
The Canadian Union of Postal Workers said Friday that the roughly 55,000 members represented by the union shot down the Canada Post's latest proposal, which would've seen wage hikes of about 13 per cent over four years and restructuring to add part-time workers to the deal.
Article content
Article content
Article content
Some 68.5 per cent of urban mail carriers who voted were against the deal, while their rural and suburban colleagues were 69.4 per cent against.
Article content
Article content
Adam King, assistant professor in the labour studies program at the University of Manitoba, said the forced ratification vote ordered by the federal government and administered by the Canada Industrial Relations Board was a 'distraction.'
Article content
'Hopefully, at the end of the day, we see an agreement reached at the table — where it should have been in the beginning,' he said in an interview.
Article content
'Canada Post management is really going to have to put something on the table that the union actually thinks members will accept.'
Article content
Negotiations for a new collective agreement have been ongoing for more than a year and a half. The federal government asked CIRB to step in and scuttle a holiday season postal strike late last year, but the parties remain at an impasse.
Article content
Article content
The Crown corporation requested Jobs Minister Patty Hajdu send its most recent proposals from late May — calling them the 'final offers' — to a forced vote from workers.
Article content
Article content
Canada Post said in a statement Friday that it was 'disappointed' in the vote results and that it was weighing its next steps.
Article content
CUPW said in a bulletin to members last week that its negotiators are ready to head back to the bargaining table.
Article content
King acknowledged that while the vote didn't go in Canada Post's favour, it wasn't a 'resounding' rejection, with more than 30 per cent of voters coming out in favour of the deals as presented.
Article content
Larry Savage, professor in the department of labour studies at Brock University, said that apparent division in the ranks of CUPW would make it difficult to get members on a picket line.
Article content
'Even if you could effectively organize a strike, it's not obvious to me that it would produce the results the union's looking for,' Savage said in an interview.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Adam Zivo: Montreal Pride reverses shameful decision to ban Jewish groups
Adam Zivo: Montreal Pride reverses shameful decision to ban Jewish groups

National Post

time21 minutes ago

  • National Post

Adam Zivo: Montreal Pride reverses shameful decision to ban Jewish groups

Article content Given that 2024 survey found that 91 per cent of Canadian Jews may be Zionists — meaning they believe that Israel has the right to exist as a Jewish state — implementing these demands would have amounted to a de facto ban of most of Canada's Jewish community. Article content This year, Helem launched its own alternative festival, ' Wild Pride,' which took place last week and featured a party called ' Intifada on the Dance Floor.' Notably, 'intifada' (which translates into 'uprising') is often seen as a pro-terrorism term, as Palestinian militants widely used it to describe their suicide bombing campaign against Israeli civilians in the early 2000s. Article content And this isn't the only thing that's happened behind closed doors at Montreal Pride. Article content Further behind-the-scenes context was provided by Artur Wilczynski, a Jewish LGBTQ activist and retired bureaucrat who was recruited by Montreal Pride in 2023 to help assess the applications of new board members. Article content In an interview this Saturday, Wilczynski explained that Montreal Pride's current troubles could be traced back to a 'really serious kind of institutional meltdown' that occurred in 2022. That year, the festival was abruptly canceled just hours before it was supposed to begin, as it was discovered that organizers had recruited only half of the 200 volunteers needed to provide event security. Article content Article content According to Wilczynski, the scandal pushed Montreal Pride to strictly focus on its core mandate and avoid embroilment in unrelated international conflicts. He said that the festival's leadership told him this spring that they wanted to take a cautious approach, to avoid alienating corporate and government funders. Article content From Wilczynski's understanding, the decision to ban Ga'ava and CIJA was not unanimous and 'caused a schism on the board.' The day following our interview, he publicly announced his resignation from Montreal Pride due to the 'discriminatory and indefensible' exclusion of Ga'ava, and, the day after that, the chair of Montreal Pride's board of directors, Bernard Truong, also resigned, citing 'personal reasons.' Article content The ban caused strife with some of Montreal Pride's external partners and community supporters as well. Several days ago, for example, five Liberal MPs published a joint letter urging Montreal Pride to reverse its 'profoundly hurtful' ban of Ga'ava, as it 'sends a message that Jewish identity is not welcome in LGBTQ+ spaces.' Article content Both Wilczynski and Godoy alleged that Montreal Pride's executive director, Simon Gamache, has been on sick leave since last Monday. 'Pride is rudderless and without a captain on board right now,' exclaimed Godoy. Article content However, I was unable to corroborate these claims or others about Montreal Pride's internal dynamics, as the festival did not respond to a detailed list of emailed questions. Their presenting sponsor, TD Bank, also did not immediately respond to a request for comment. Article content On Tuesday, it was announced that Ga'ava and CIJA would be re-invited back to the parade following discussions with the new chair of Montreal Pride. In a press release, CIJA stated that Montreal Pride 'opposes antisemitism and had no intention of excluding the Jewish community' and that 'following constructive dialogue, we accepted their apology.' Article content 'This incident — so out of step with Fierté Montréal's (Montreal Pride's) values of inclusion and respect, values that must be upheld in the broader struggle for Quebec's shared values — should never have happened,' stated the press release, which went on to acknowledge the 'thousands' of citizens, including politicians and influences, who condemned the exclusion. 'Quebec's Jewish community is glad to move forward.' Article content

UBS to Pay $300M to Settle Credit Suisse Mortgage Securities Lawsuit
UBS to Pay $300M to Settle Credit Suisse Mortgage Securities Lawsuit

Globe and Mail

time21 minutes ago

  • Globe and Mail

UBS to Pay $300M to Settle Credit Suisse Mortgage Securities Lawsuit

UBS Group AG UBS has agreed to pay $300 million to the United States Department of Justice (DOJ) to resolve a legacy matter related to the mis-selling of mortgage-linked investments by Credit Suisse in the United States. On Aug. 1, 2025, Credit Suisse Securities (USA) LLC agreed to settle all Credit Suisse's outstanding consumer relief obligations under the 2017 settlement for its residential mortgage-backed securities (RMBS) business. History of the UBS Lawsuit In January 2017, Credit Suisse reached a $5.28 billion settlement over its role in selling residential mortgage-backed securities between 2005 and 2007. The agreement required the bank to pay $2.48 billion as a civil penalty to the U.S. government, along with $2.8 billion in relief measures such as loan modifications for struggling homeowners, debt forgiveness and funding for affordable housing initiatives. The 2017 settlement was part of a broader initiative by the U.S. authorities to hold major banks accountable for their involvement in the 2007–2008 financial crisis. The DOJ raised allegations that Credit Suisse knowingly acquired and securitized low-quality mortgage loans while misleading investors about the associated risks of these securities. In the years leading up to the crisis, many large banks engaged in misconduct related to RMBS. The DOJ ultimately collected roughly $36 billion in civil penalties from 18 financial institutions for RMBS-related fraud during that period. UBS resolved its own RMBS case with the DOJ in August 2023, agreeing to pay about $1.44 billion in a civil penalty, roughly four months after it acquired Credit Suisse in a $3.25 billion government-orchestrated deal. Other Regulatory Probes Faced by UBS In May 2025, UBS agreed to pay $511 million to resolve a tax probe by the U.S. DOJ against Credit Suisse for preparing false income tax returns and tax evasion. The two-year investigation by the DOJ, initiated before UBS acquired Credit Suisse, found that Credit Suisse aided and assisted in tax evasion through its 475 offshore accounts to prepare false tax returns to conceal more than $4 billion from the US Internal Revenue Service (IRS). The DOJ reported that most of this misconduct occurred between 2014 and June 2023. Thus, an increase in claims against the company and regulatory fines over Credit Suisse's dealings is expected to increase litigation provisions in the near term. Over the past six months, UBS Group shares have gained 11.9% compared with the industry 's 17.6% rise. UBS currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Litigations Faced by Other Finance Firms Last month, CNBC reported that Robinhood Markets, Inc. HOOD is under investigation by Lithuania's central bank, its lead regulator in the European Union (EU), regarding its newly launched tokenized equity products. The scrutiny follows Robinhood's recent launch of its Stock Tokens product across the EU, aimed at offering blockchain-based tokenized access to shares, including those of private firms. The offering sparked immediate questions from OpenAI, which openly distanced itself from HOOD's product. Robinhood defended the tokens by highlighting that they are backed by ownership interests designed to provide investors with indirect exposure to private markets. Nonetheless, regulators remain wary, specifically regarding the transparency and legality of how these digital instruments are offered to retail investors. In June, in a ruling, Anthony Trenga, U.S. District Judge in Alexandria, VA, announced that Capital One COF will have to face a lawsuit by social media creators who claim that the bank's free browser extension deprived them of commissions on sales generated through their content. According to the creators, the Capital One Shopping browser extension, which has more than 10 million users, is used to discover discounts. It erroneously reflected Capital One as the source of referral traffic at checkout, making it appear as if consumers had clicked the bank's referral links before making purchases. The creators alleged that this enabled Capital One to collect millions of dollars in commissions that rightfully belonged to bloggers, influencers, YouTubers and other content creators. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> UBS Group AG (UBS): Free Stock Analysis Report Robinhood Markets, Inc. (HOOD): Free Stock Analysis Report

These 3 CEOs Just Bought the Dip
These 3 CEOs Just Bought the Dip

Globe and Mail

time21 minutes ago

  • Globe and Mail

These 3 CEOs Just Bought the Dip

Investors closely monitor insider buys, as they can give hints surrounding the long-term picture. But it's critical to note that insiders have a longer holding period than most, and many strict rules apply to their transactions. Recently, CEOs of several companies – MSCI (MSCI), Charter Communications (CHTR), and Healthpeak Properties (DOC) – have made splashes, acquiring shares. Let's take a closer look at the transactions for those interested in trading like the insiders. MSCI CEO Buys Millions Worth MSCI provides investment decision support tools, including indexes; portfolio construction and risk management products and services; Environmental, Social and Governance (ESG) research and ratings; and real estate research, reporting and benchmarking offerings. The stock is a Zacks Rank #2 (Buy) thanks to positive EPS revisions, with analysts taking expectations higher across the board over recent months. Henry Fernandez, CEO, recently has purchased roughly 12.5k MSCI shares, with the total transaction totaling roughly $6.7 million. As shown below, the purchase aligned with a dip in MSCI shares, reflective of confidence in the positive EPS and broader long-term outlook. CHTR CEO Dives In Charter Communications is the second-largest cable operator in the United States and a leading broadband communications company providing video, internet, and voice services. CEO Christopher Winfrey recently purchased roughly 3.6k CHTR shares at a total transaction value of just over $1 million. As shown below, the purchase coincided with a plunge in CHTR shares, with the CEO scooping up shares at a discounted level. X Still, analysts have lowered their EPS outlooks across the board, likely reflective of further short-term pain ahead. Positive EPS revisions would be key for a positive turnaround in sentiment, with the CEO's long holding horizon an obvious advantage here. Healthpeak CEO Buys Healthpeak Properties is a REIT in the United States that acquires, develops, manages, sells, and leases a diverse portfolio of healthcare real estate-related properties. Insiders have regularly bought on share weakness in 2025, as we can see in the green arrows in the chart below. X CEO Scott Brinker recently swooped in and purchased roughly 6k DOC shares at a total transaction value of roughly $100k. He now owns more than 210k shares overall. The stock's weak performance has been partly driven by negative earnings estimate revisions, currently a Zacks Rank #4 (Sell). The purchases here are relatively unsurprising, given the CEO's long-term horizon and the discount that shares are currently displaying. However, near-term performance can be expected to remain soft given the cloudy EPS outlook. Bottom Line Many investors closely monitor insider buys, looking to receive insights into the longer-term picture. The transactions shouldn't be relied on for near-term performance, as insiders' holding periods are longer than most, and many strict rules apply. Rather, investors can see insider buys as an overall net positive concerning the longer-term outlook. All large-cap stocks above – Healthpeak Properties DOC, MSCI MSCI, and Charter Communications CHTR – have seen recent insider activity. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> MSCI Inc (MSCI): Free Stock Analysis Report

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store