Non-profit employees admit burnout
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New data shows one-third of non-profit sector employees are burned out and experiencing food insecurity.
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National Post
42 minutes ago
- National Post
Colby Cosh: How Donald Trump nationalized U.S. Steel
Last week, Nippon Steel Corp. of Japan formally completed a takeover of U.S. Steel (USS), the venerable but diminished American industrial giant created by J.P. Morgan in 1901. The Japanese company originally placed its bid for USS in late 2023, but it ran into immediate trouble with the Biden administration. U.S. Steel, once widely regarded as an overmighty pollution-spewing relic of Gilded Age cartelization, had magically evolved to become a vulnerable 'national champion' of morally superior things-making industries; and the company still has a powerful unionized workforce in U.S. rust-belt states that are electorally pivotal. Pennsylvania-born President Joe Biden wasn't going to let a corporate brand virtually synonymous with the city of Pittsburgh be raffled off without a tussle. Article content Article content Government foreign-investment approvals necessarily have this sort of personal-rule character wherever they happen, which is pretty much everywhere. If you want to sell a bundle of industrial assets in Country X to folks from Country Y, you had better have approval from the top political boss of X, whether that approval be tacit or explicit. Article content Article content Article content Still, Biden did go through the motions of being head of a government of laws rather than men. He had a U.S. Treasury Department panel, the Committee on Foreign Investment in the United States (CFIUS), whack together an indecisive but fact-based report on the potential costs and benefits of the proposed takeover. Only at that point, with mere days remaining in his term of office, did Biden (or whoever was wielding his executive autopen) fully and officially block the Nippon Steel deal. Biden's successor had already been re-elected, and nobody could imagine that Donald Trump would be any less of an unruly economic nationalist — but the thing that is nearest and dearest to Trump's heart is deal-making, and Nippon Steel found a way to get the takeover done. The Japanese company had already promised to preserve U.S. Steel's Pittsburgh national head office and to honour existing collective-bargaining agreements with the unions. Trump extracted further concessions on investments and hiring, along with a means of enforcing them, namely a 'golden share' controlled by the U.S. government. Article content A 'golden share' is a special kind of equity that gives its holder veto power over specified corporate decisions. It is often used in privatizations to give governments some vestige of control over corporate entities originally created by the state (or, in Canada, the Crown) for public purposes. In this unusual case, the U.S. government is magically gaining a golden share in exchange for permitting the sale of one private company to another. The government will be given the right to choose some U.S. Steel board directors, to forbid any name change, and to veto factory closures, offshoring, acquisitions and other moves. Article content As the Cato Institute immediately pointed out, this is a de facto nationalization of U.S. Steel — the sort of thing that would have had Cold War conservatives climbing the walls and hooting about socialism. But at least socialism professes to be social! Yesterday a lefty energy reporter named Robinson Meyer was nosing around in the revised corporate charter for the newly-acquired U.S. Steel, and he discovered a remarkable detail that the Cato folks had missed: the decision powers of the golden share have been legally assigned to Donald Trump in person and by name for the duration of his presidency. Only after Trump has left the White House do those golden-share powers revert to actual U.S. government departments (Treasury and Commerce).
National Post
an hour ago
- National Post
Michael Taube: Mark Carney leans European, but needs to buy American again
Article content It will also 'promote multilateral dialogue and co-operation with like-minded countries in relevant areas of security and defence where considered mutually beneficial.' Some of the matters mentioned in the agreement include support to Ukraine, peacekeeping operations, military mobility, maritime security, sharing information on defence initiatives and cybersecurity. Article content And it doesn't stop there. Businesses will be encouraged to 'grow and diversify markets by fully and effectively implementing' the Canada-European Union Comprehensive Economic and Trade Agreement. The parties also agreed to work towards a 'digital trade agreement,' 'identify trends and risks of mutual concern that could affect our economic security,' 'reduce barriers and strengthen agriculture and agrifood trade' and focus on shared energy needs. Article content What about the future of Canada-U.S. relations? While there have been issues between our two countries due to U.S. President Donald Trump's tariffs and leadership style, it's vitally important for Carney to rebuild ties with the U.S. There have been political, economic and military disagreements between Canada and the U.S. before. We fought one another during the War of 1812. Nevertheless, we always found ways to agree to disagree and move forward like good friends and allies do. Article content Article content Things looked promising at one point. Carney said earlier this month that his government was 'in intensive negotiations with the Americans' to end the tariffs on aluminum and steel that chilled relations between our two countries. Carney and Trump also agreed to work towards an economic and security pact within the next 30 days during last week's G7 summit in Kananaskis, Alta. Article content Alas, Carney's determined tone has noticeably shifted. He's now hemming and hawing about the path forward. 'We'll do what's right for Canada,' he told reporters in Brussels. 'We're working hard to get a deal, but we'll only accept the right deal with the United States. The right deal is possible, but nothing's assured.' Article content Trump then announced on Friday through his Truth Social account that he was 'terminating ALL discussions on Trade with Canada, effective immediately.' Why? This was due to Canada's decision to introduce a 'Digital Services Tax on our American Technology Companies.' Trump believed the Carney Liberal government was 'obviously copying the European Union' with this tax, and felt it was a 'direct and blatant attack' on the U.S. Article content Article content No one is suggesting that Carney is obligated to bend to Trump's every whim and desire during these crucial negotiations. At the same time, this is hardly the sort of descriptive language and rhetorical tone he should be using in public before the July 21 deadline. Article content If there have been issues between the two sides, fine. All Carney had to do was take a more neutral position for the bulk of the 30-day process and crescendo accordingly. This would have shown that he recognized the importance of preserving Canada-U.S. relations and was taking things seriously. It would have been hard to argue against such logic. Article content It appears that Carney's infatuation with the EU has further strained our friendship with the U.S. for the foreseeable future. While some will claim that Trump is the main reason, it's a false narrative. He'll be out of office in a number of years, as will Carney. The devastating political and economic effects of a fractured Canada-U.S. relationship will last long past then. Article content Article content Article content
Globe and Mail
an hour ago
- Globe and Mail
2 No-Brainer High-Yield Stocks to Buy With $1,000 Right Now
Annaly Capital Management (NYSE: NLY) is offering a massive 14%-plus dividend yield today. And the dividend was just increased at the start of 2025, too. Sounds great, right? But, before you run out and buy the stock, you need to dig into the company's history just a little bit. You'll likely be better off with the lower yields on offer from Realty Income (NYSE: O) and Bank of Nova Scotia (NYSE: BNS). Here's why Annaly could set income investors up for failure while Realty Income and Bank of Nova Scotia should leave you rolling in the dough. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » What are you looking to achieve with dividends? Dividend investors come in all shapes and sizes, so there's no one right way to invest in dividend stocks. However, a common theme is that dividend investors are often trying to create an income stream that can support them in retirement. This is an important fact to consider as you invest your hard-earned savings, be it $100, $1,000, or $100,000. Far too often, investors chase yield without giving proper consideration to the risk of dividend cuts. This is the big problem with Annaly Capital Management's huge dividend yield. The company is a mortgage real estate investment trust (mREIT). That means it buys mortgages that have been pooled into bond-like securities, not physical properties that it leases to tenants. Mortgage REITs are very similar to mutual funds, with the REITs earning the difference between their costs (which include interest expenses) and the interest they receive from the securities they buy. There are a lot of moving parts, but the important outcome is that the dividends that mREITs pay have proven to be rather unreliable. As the chart below highlights, even though Annaly Capital just increased its dividend in 2025, that comes after a long string of cuts. And even before that string of cuts, the dividend was up and down. Data by YCharts. Notice, however, that the share price has tended to trend along with the dividend. So that long downtrend in the dividend meant that income-focused investors would have been left with less income and less capital. That's a terrible outcome for anyone trying to live off their dividends. Stick with consistent dividend stocks Compare the ups and downs of Annaly Capital's dividend to the three decades worth of annual dividend increases on offer from the property-owning REIT Realty Income. Its 5.6% yield may be lower, but if you want to feel comfortable that you'll keep getting paid at the same or higher rate, Realty Income wins hands down. And the business model is much easier for investors to understand, given that Realty Income does the same thing you would do if you owned a rental property, only on a much larger scale. Scale is important here, though, because Realty Income is the largest net lease REIT, which just means its tenants pay for most property-level operating costs. Being large has allowed Realty Income to become highly diversified, with over 15,600 properties spread across the United States and Europe. It owns retail, industrial, and a fairly broad group of "other" assets, like vineyards and casinos. All in, it is one of the most diversified and reliable REITs you can own. Boring is really the name of the game for high-yield Realty Income. For those who don't mind taking on a little more risk, a good choice could be Bank of Nova Scotia, commonly known as Scotiabank. It has paid a dividend every single year since 1833. It didn't cut its dividend like many of the largest U.S. banks did during the Great Recession between 2007 and 2009. And while it paused the increases in its dividend in 2024 as it shifted its business model slightly, it increased them again in 2025. Add in a lofty 5.9% dividend yield, and you can see why dividend investors might be attracted to the stock. The key here is that Scotiabank is Canadian. Canada has a highly regulated banking market, with regulators basically giving a handful of large banks entrenched positions. Scotiabank is one of those banks, so the business has a very strong foundation. The heavy regulation has also created a conservative ethos that permeates Scotiabank's operations both in its home market and abroad. That said, a decision to focus on Central and South America for growth didn't pan out as well as management had hoped. Scotiabank is now refocusing its growth on Mexico and the United States, and making solid early progress. The dividend increase is proof of that. Scotiabank is another solid option if you are looking to buy a reliable dividend stock. What does $1,000 get you? With $1,000, you can buy around 18 shares of Scotiabank and 17 shares of Realty Income. And then you can sit back and collect attractive yields that are backed by dividends that are likely to grow over time. Or you can buy 50 or so shares of ultra-high-yielding Annaly Capital and pray that the income stream in the future isn't as volatile as the mREIT's dividend history suggests it will be. Most dividend investors will be better off with Realty Income and Scotiabank. Should you invest $1,000 in Annaly Capital Management right now? Before you buy stock in Annaly Capital Management, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Annaly Capital Management wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $704,676!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $950,198!* Now, it's worth noting Stock Advisor 's total average return is1,048% — a market-crushing outperformance compared to175%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of June 23, 2025
