More Empty Rhetoric

Those of us capable of casting a critical eye on the Prime Minister are well aware of his capacity for rhetorical flourish. Unfortunately, that flourish is often an end in itself. Concrete action and legislative initiatives rarely follow. And frequently that rhetorical capacity escapes him when he has no answer to the question. There were several examples of this last week in Davos. Today's post deals with one of them.

At a press conference in Davos, Switzerland, Thursday, Trudeau suggested that laid-off Sears workers, many of whom had counted on their company pensions for their retirement, fall back on employment insurance and the Canada Pension Plan.

Asked by Globe and Mail bureau chief Bob Fife what his government would do about the fact Sears left its pensions underfunded while doling out millions in bonuses to execs, Trudeau gave a vague response.

"Canada continues to support people going through difficult times," Trudeau said. "Obviously pensioners who face uncertainty need to be supported, need to be reassured. That's why Canada has measures like the Canada Pension Plan, like employment insurance benefits — a broad range of ways we can support people who are facing unexpected downturns or layoffs."

"So nothing is going to happen to Sears," Fife responded.

A followup question was posed, which you can watch below starting at about the 2:25 mark:



The Prime Minister says that the Sears situation doesn't have any easy answers. How about a legislative fix to provide pension protection during bankruptcy proceedings, Mr. Trudeau, so that this sad situation doesn't happen again and again and again?

Corporate Greed and Political Collusion

If you haven't already done so, be sure to check out Owen's post on the Sears Canada bankruptcy. In it, he cite's Linda McQuaig's article in today's Star that deals with our wholly inadequate bankruptcy laws that leave many workers, in this case those losing their jobs with the 65-yeear-old department store chain, holding an almost empty bag.

Last night's report from Global National demonstrates both the human tragedy behind the bankruptcy, and the fact that unlike countries such as Britain and the U.S., Canada offers little protection for those who should qualify for both severance pay and pensions. And despite the usual platitudinous lamentations from the political class, it is obvious that the federal government is not interested in changing our regulations in order to protect the truly vulnerable.




Corporate bankruptcy is not a new Canadian phenomenon. Despite that, it seems that our neoliberal masters are intent only on protecting the corporate sector, not the citizens of this country.

You can read about the private members' bills seeking to address the situation here. However, bear in mind that such bills are almost always doomed to failure.