Wednesday, June 21, 2017

Why the Toronto Star deserves to fail

I'm looking at the front page of the business section of today's Toronto Star. Four stories are introduced to us on the front page.

Dream of starter homes fades in TO.

HBC's activist investor has been here before.

Wynne welcomes Amazon in Canada.

Airports ban ads from passenger aid company.

In the first story, Tess Kalinowski informs us that Toronto's chief planner, Jenn Keesmaat, is sad that regular folks can no longer afford a single family home in Toronto. But she is happy that when a family of five squeezes into a 500 square foot condo, they leave a smaller footprint.

Well, I guess that's nice.

But Keesmaat also informs us that Toronto home-buyers are competing with global capital.

So tough shit, I guess. My question would be this; does Jenn Keesmatt draw her generous salary for planning a city for global capital, or does she draw it for planning for Toronto residents?

Too bad the Star never asks this question.

Then Jennifer Wells has a reasonably informative story about a big-league finance sharpie, Jonathan Litt, who is offering unsolicited advice to Hudson Bay Company on how to stay afloat. Monetize your real estate!

HBC is run by another finance sharpie, Rick Baker, who has done very well by doing exactly that. This is the guy who made billions selling the Zeller's leases to Target, and is now making more billions selling them again after Target went tits up.

Seems retail is stressed because "disrupters" are turning the retail world upside down!

So here's the next story; Wynne welcomes Amazon to Canada.

Oh ya! Amazon! The "disrupter" par excellence!

HBC is on the ropes and Target and Zellers are long gone but we should welcome, as Wynne does, the "disrupters." Apparently if we are not on board in destroying our retail infrastructure we will be "followers" instead of leaders...

Alrighty then!

So far the Star has told us it's OK that Toronto only builds housing for "global capital" and retail is fucked anyway so let's spread 'em wide for Amazon.

Last story on the front page of the Star's business section today tells us that a company that helps airline passengers get compensated for delayed, cancelled, or overbooked flights has had their adverts blocked from Toronto's only international airport!

What a surprise!

What's the common theme in these four tales from the front page of the business section on the Toronto Star?

The way I read it, they're telling the regular folks to fuck off and suck it up. Big Biz knows best!

Remember, this is Canada's "liberal" newspaper of record.

Remember too, that although the Star can't afford to hire someone to connect the dots between their various stories, they can afford to keep a correspondent in DC to catalogue the lies of Donald Trump, because... that's what Canadians are really interested in?

All of these stories would be toxic to Star founder Joe Atkinson, a guy who believed that the common man deserved at least a little bit of truth-telling.

Meanwhile, the five multi-millionaire families who have controlled the Star forever are busy lobbying the government for subsidies so they can stay in business.

I say, let 'em sink.

We already have a CBC.

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