ThemVille
Under the headline 'Trudeau's lavish handouts risk turning workers into welfare slackers', the good Mr. Ivison's writes the following in his latest legacy media, hedge fund-owned newspaper column:
...The reason is that the launch of the Canada Emergency Wage Subsidy program (by the federal government) on Monday creates the conditions for moral hazard — where parties protected from risk will act differently than they might otherwise have done if they were not protected.
Specifically, there is a worry that some workers might prefer to sit on their duffs for the next three months, pocketing $2,000 a month, rather than going back to work when called by their employers...
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From a report in Mr. Ivison's legacy media, hedge fund-owned newspaper awhile back:
The (federal) government is pledging nearly $600 million over the next five years to help news organizations struggling to adapt to a digital age that has disrupted traditional business models...
{snip]
...Paul Godfrey, the CEO of Postmedia, which publishes the National Post and daily broadsheets in many of Canada’s largest cities, said that tax credit “could be looked upon as a turning point in the plight of newspapers in Canada.”
“I tip my hat to the prime minister and the finance minister. They deserve a lot of credit,” said Godfrey. “Everyone in journalism should be doing a victory lap around their building right now.”...
All snark aside, it would appear that Mr. Ivison is actually arguing for the social breakdown we are seeing south of the 49th.
Right?
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Meanwhile, despite the earlier bailout, a lot of folks at the always hedgy/forever debt-laden Postmedia will now lose their jobs...Gosh, I wonder what they might have to say to Mr. Ivison about his denigration of their lifeline from the feds? (see reader Lew's insightful take on this in the comments).
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2 comments:
In the news this morning:
“Postmedia Network Inc. says it will lay off about 80 employees and permanently close 15 community newspapers, as the newspaper conglomerate navigates the financial fallout of COVID-19.”
https://www.bnnbloomberg.ca/-1.1428207
I trust the moral hazard created will affect none of Mr. Ivison’s co-workers and they will resist the temptation to sit on their duffs while pocketing $2,000 a month.
On another note, I notice from discussion in the Twitterverse this morning that Mr. Ivison appears to have a very thin skin and has a reputation for blocking anyone who even comes near to piercing it.
Thanks Lew--
Was just adding my post-script as you weighed in!
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