Baldo Minaudo’s Blog

It’s not something that one usually hears on an early Friday morning and that is why it caught my attention when I first heard it.

At the Adelaide Club I have a new friend who is a Vice President with BMO Bank of Montreal.  He joined the Bank in the summer of 2008 just before the liquidity crisis that shook the world.  Yet, he is a happy and content fellow that is always eager to greet.  And on Friday morning’s he greats me with a ‘Happy Friday’ which puts a smile on my face.

Yes, Happy Friday - why not?

I am thankful for my friend for setting a positive tone for the day to follow. 

So, I’m passing it along and sharing it with you.

Happy Friday everyone.

Baldo B. Minaudo

I was at the Timothy’s at First Canadian Place yesterday with the COO of Delta Uranium Inc. (TSX: DUR).  As we were waiting for our coffees our attention was diverted to a gentleman holding some change in his hand.

“How much does the cookie cost?” the cashier gave him an amount that I didn’t pay attention to.

“How much does the small coffee cost?” the cashier gave him another amount.

“So a cup of coffee and a cookie costs me almost $5?” he asks rhetorically.  I could see he was baffled as to how he could be charged $5 for what amounts to less than a dollar in goods.  If you think about it, you can buy a cookie from a bakery for as little as $.50 and a coffee really only costs about $.50.  The rest is cost of retail rent, advertising and PROFITS. 

The point though is that this man was so astounded as to what he had to pay in downtown Toronto that he was speechless.  I find myself in a similar reaction whenever I look at the price of condominiums in downtown Toronto (many of which are vacant) and the ‘maintenance’ (or second tax as some people call it) they pay.  It doesn’t make sense when you consider that it’s about 25% cheaper in today’s market to rent than it is to own.

Next time I see that man at Timothy’s I’m going to buy him a coffee and cookie.  But something tells me he isn’t going back.

Enjoy your coffee.

Baldo B. Minaudo

For me Easter is a time to celebrate life and mark the transition into spring. It is a time when the dark cold of winter is put behind us and we look to the emerging buds and outdoor activities.  It is also a very spiritual time in that as we pass lent and let go of our past we step into the wonderment of what is to come, of what is possible and of what we can truly be.

Now having shared that with you, lets look at the history behind Easter.  Easter is a key festival in the Christian church year, celebrating the Resurrection of Jesus Christ on the third day after his Crucifixion. The origins of Easter date back to the beginning of Christianity, and is believed to be the oldest Christian observance after the Sabbath which is celebrated on the Saturday. Eventually, the Sabbath came to be regarded as the weekly celebration of the Resurrection.

From another perspective, many cultural historians find in Easter celebrations, a convergence of the three traditions; Hebrew, Pagan and Christian. According to St. Bede, an English historian of the early 8th century, Easter’s origins are from the old Teutonic mythology. He believed that ‘Easter’ was derived from the name Eostre (the Anglo-Saxon goddess of spring) to whom the month of April was dedicated. The festival of Eostre was celebrated at the vernal equinox, which is when the day and night get equal share of the day. When the early English Christians wanted to encourage acceptance of Christianity, they used the name Easter for this holiday so that it would match the name of the old spring celebration. Others point out that the Easter festival as it is celebrated today is related to a Hebrew tradition known as the Jewish Passover. Jewish Passover under Moses commemorates Israel’s deliverance from about 300 years of bondage in Egypt.

Regardless of how Easter came into being, its what we make of it and what it brings to our life that makes it significant. There are many among us that use Lent and Easter as opportunities to make shifts and changes in our lives.  A time to give up something and get ready to welcome something else in return.  A time to not only welcome change but to make room for change and to look for change.  Something great happens in the weeks leading up to and culminating in Easter.  I see it all around me every year.  Of course those that recognize the significance of the season are able to leverage it for their own life journey much more than those that have lost touch of the patterns and pulses of life.

Use this Easter to remember your beliefs, your spirituality and the decisions your making in your journey through life.  And if you’re up to it, why not celebrate with Easter Mass, ceremony or Easter Egg Hunt.

Enjoy your Easter.

Baldo B. Minaudo 

‘Is it true that Dalton McGuinty wants you to stop exercising?’  When my friend a Canadian molecular biology researcher now based in the U.S. asked me why our premier wants our population to be less healthy I responded with  a ‘what are you talking about?’.

She referred me to an article in the Globe and Mail Canada’s National Newspaper dated March 27, 2009.  I had to read the front page twice, but it’s true - Premier Dalton McGuinty and his Liberal Government is discouraging Ontarians from exercising by taxing Gym memberships and Vitamins. 

I called my friend back at which point she pointed out how short-sighted and outright stupid such a tax is.  ‘Shouldn’t you be encouraging a healthier population she asked?’  If Ontarians exercise less they’ll end up with many more health problems, especially when they’re older.  The cost of this will be multiples greater than any possible taxes you can collect in the short run.

‘But it wasn’t too long ago that we introduced a Chidren’s Fitness Tax Credit to encourage physical fitness and better health amoung our children.’ I replied.  She then pointed out that it was Stephen Harper’s Progressive Conservative government that introduced that at the federal level.

Regardless, I’m still trying to figure out how a leader, let alone a whole government could make such a decision to tax better health.  I would be extremely disappointed if the Liberal government justifies taxing of good health through some claim that it is too difficult to do as part of the harmonization of GST and PST.  Well then, how about a tax rebate or tax credit for those that have to pay this tax? 

When is the next provincial election anyway?

Last week I was waiting in line at the Tim Horton’s on Bay Street at Temperance St.  The lady in front of me seemed a little annoyed as she held a large cup of coffee in her hand. 

A few minutes later she steps up to the counter and removes the lid from her cup to show the contents to the man at the counter.  “I had ordered a cappuccino and this is what I got.”

I snuck a peak and could tell from about 8 feet away that it was basically milky water. 

The man behind the counter apologized and blamed the coffee machine.  He then proceeded to open the machine to see what had gone wrong.  For those of you that may not be aware, real cappuccino and espresso coffee is made fresh from ground beans using steam and pressure just like at Starbucks, but using real coffee not the cheap stuff and tasting better.

Back to what happened - just what did  happen?  First we have a customer that orders a specific coffee drink.  Then we have a person trained in putting a cup under a spout, pushing a button and then placing a led on it.  The order is taken.  The server proceeds to fill the order.  Payment is collected and the product is not delivered - milky water is delivered instead.  So why didn’t the server look at what was going into the cup, just what were they thinking about?  They certainly didn’t have the wishes or interest of the customer in mind. 

Is this a training issue? - Probably not as it doesn’t require much training to notice that something doesn’t look the way it should.  Is it lack of pride or disinterest? - Possibly as the servers behind the counter at this location frequently make errors and don’t seem very particular about their dress or mannerism.  Then again why can’t you train someone to take pride in their work.  Or is it a cultural thing - the servers at this location seem to be from a specific ethnic origin.

Regardless, this is another anecdotal example of where the Tim Horton’s of today, now owned by American interests is not the Tim Horton’s I grew up with.  Where is the great product quality, service and reliability that has made Tim Horton’s so popular?