May 1, 2020

“When one door closes another door opens but we so often look so regretfully upon the closed door that we do not see the ones which open for us”
Alexander Graham Bell

COVID-19 – ALBERTA’S REOPENING STRATEGY

  • Alberta announced their reopening strategy yesterday:

    Conditions for relaunch:

        • Continue physical distancing, enhancing testing, launching contact tracing, use of masks in public, rapid response to outbreaks

    Early Actions:

        • May 1: boat launches in provincial parks open, vehicle access to parking lots in parks
        • May 4: Dentists, physiotherapists, speech pathologists, audiologists resume services, golf courses can reopen with restrictions
        • May 14: Alberta Parks’ online campground reservation system opens for camping from June 1 on

    Stage 1 (as early as May 14):

        • Retail business, hair salons, barber shops, museums, and art galleries open
        • More scheduled surgeries and dental procedures
        • Daycares and summer camps with limits on occupancy
        • Dine in restaurants, cafes, lounges, and bars at 50% capacity

    Stage 2 (if cases remain low, date to be determined):

        • Personal services like esthetics, body treatments, manicures, pedicures, massage
        • Movie theatres and theatres open with restrictions

    Stage 3 (if cases remain low, date to be determined):

        • Full reopening of all businesses and services with limited restrictions
        • Permitting larger gatherings

NEW BANK OF CANADA GOVERNOR IS TIFF MACKLEM

  • Tiff Macklem takes over as Bank of Canada Governor on June 2nd.
  • Who is Tiff Macklem?
    • 59 years old, born in Montreal
    • Undergrad from Queens and Masters and PhD in economics from University of Western Ontario
    • Former senior deputy at the Bank of Canada in 2008 under Mark Carney (has worked at the Bank of Canada off and on since 1984)
    • Was a former associate deputy minister for Canada’s Finance Department
    • Has been a leading voice for a shift toward a low-carbon economy
    • Was chair of Prime Minister Trudeau’s panel on sustainable finance and does not support negative interest rates
    • Currently the dean of the Rotman School of Management at the University of Toronto

DOING THINGS DIFFERENTLY IN THE FUTURE

  • Canadian oil well drillers are exploring working with geothermal (extracting heat in the form of hot water or steam from deep inside the earth) companies. The same rigs can be used for geothermal as oil.
  • amazon.com extends work from home regime until at least October 2nd.
  • OpenText won’t reopen half its offices after the pandemic because work-from-home was so successful.
  • Air Canada expects to return to worldwide air travel by Christmas, possibly fewer flights and more connections than we have been used to.
  • Federal Reserve Chair Jerome Powell says the US economy will need more support from the central bank as well as fiscal support from government.
    • Pledged the support of the Federal Reserve to use all its tools to support the economy and there is a lot more they can do