HBC Sold To Lord & Taylor Owner

Pictured: Above – Façade of the old Hudson’s Bay Store; Below — Bay Centre, Victoria

NRDC Equity Partners and True North Retail Investments, an affiliate of The InterTech Group, Inc. and the owner of Hudson’s Bay Company, announced today the completion of a transaction in which NRDC Equity Partners acquired HBC and consolidated its ownership of Lord & Taylor, Fortunoff, and Creative Design Studios under a holding company called the Hudson’s Bay Trading Company. Combined, these companies comprise more than US$8 billion in retail sales, 75,000 employees, and 55 million square feet of stores in the United States and Canada. Hudson’s Bay Company, established in 1670, is North America’s oldest continually operating company. Established in 1826, Lord & Taylor is America’s oldest upscale department store.

Insight From Warren’s Fish

Kinsella polls his antisocial fish “Bart” about some of the topical issues of the day with entirely predictable results.

I think he has a point. “Bart is like most Canadians. It’s summertime and he doesn’t want to be bothered.”

Yep. Much apathy in the land.

McCain & The Video Professor

John McCain, a self-confessed computer illiterate, finds the Video Professor’s computer tutorials.

Back in March, Mother Jones asked: “Do we want a commander-in-chief who can’t use a computer without assistance?”

Washington is full of these guys, and it’s so depressing. Larry Craig once said “I’ve never used the internet” (though we know he was lying). Ted Stevens thinks the internet is a series of tubes. Bush uses “the Google.” I can’t wait until we have a computer-literate generation of leaders in our Capitol.

Keep in mind that was back in March and now it’s the middle of July and McCain has only advanced to the point where can say: ‘I’m learning to get online myself, and I’ll have that down fairly soon.” Wow. Talk about a quick study.

Tales of The Gilded Age

Tougher times ahead, say Canadian, U.S. bankers

More cheerful news on the economy:

OTTAWA — Canadian and U.S. central bankers warned of tougher times ahead on Tuesday as the slumping North American economies suddenly appeared more vulnerable to job loss, financial failures, inflation and weaker consumer spending.

Bank of Canada governor Mark Carney and U.S. Federal Reserve Board chairman Ben Bernanke issued separate but equally blunt assessments, saying both their economies are combating rising inflationary pressures and slowing growth.

Remember though, President Bush assures us that the economy’s “fundamentals are sound.” Uh-huh. Tell that to this lady:

KING: We go now to Santa Barbara, California, Barbara Harvey. She used to live in a three-bedroom rented condo with garden and many amenities. Now, she lives in a parking lot. Before we talk with her, let’s take a look at the place she and her two golden retrievers call home.


BARBARA HARVEY, LIVING IN SUV: This is my car, my CR-V, and it’s my home. And this has been home for four months, just around four months now. This is tight. It’s not like a beautiful three-bedroom condo that I used to live in. That was nice. That was spacey, lots of space in that. But we’re managing. And it’s not comfortable. But we’re still managing.

I’ll show you what I do. I start getting us ready for bed. This is — these are my clothes. That goes under there. Show you how we fit together in here, because it does work. Little tight, isn’t it, huh?

You’re such a — we don’t even need blankets tonight, do we? I’m very resourceful, I think, as far as keeping the dogs in here, and learning how to live out of a car. So, here we are. And here we’ll stay until life changes.

Life under the Bush economy isn’t too bad for some folks though:

A couple of years ago, the Wall Street Journal put together a representative outfit that a male hedge-funder would wear to work in Greenwich, Connecticut (the epicenter of the industry): shoes by Cole Haan, $365; trousers by Ermenegildo Zegna, $495; shirt by Armani, $315; messenger bag (no dorky briefcase!) by Tumi, $395. Total, not including underwear and socks: $1,570 — not all that much below $1,874, the average household’s annual expenditure on clothing in 2006. But that’s just for the hedge-fund rank and file; for the top guys, who take in a billion a year or more, it’s private jets and even personal submarines.

Ah yes, the wonders of neo-liberal “Voodoo Economics” don’t you know.

Links With Your Java

• “I don’t get into the technical details,” said Peter MacKay when asked why tendering guidelines were for $100 million DND contract for new unmanned drones changed midway through the bidding. Conservatives — they’re all about the accountability, you know.

• Oh, groan. The Weekly Standard is outraged at Joe Biden’s “offensive quote” about taking McCain to Afghanistan to show him where the “bad guys” are. Yeah, that’s really offensive. Now, let me tell you about McCain’s hilariously “funny” rape joke…

• Give ‘em an inch… ADQ leader Mario Dumont wants Charest to push the government to have Quebec recognized as a nation in the Constitution and open bilateral talks with the feds. Well, you knew that was coming, didn’t you? On a related note, Harper is MIA — too busy fundraising, I guess.

• Hitchens weighs in on the now infamous New Yorker cover, calling the initial reaction by the Obama camp a “statement of extreme lugubriousness.” There’s a ten-dollar word you won’t hear uttered on television. David Horsey at Seattle Post-Intelligencer sends up the cover for “irony challenged literalists.”

• Malkin mocks the abuse of prisoners at Guantanamo, calling Khadr’s case a “Gitmo sob-story” and release of the videotape “a garish Gitmo stunt.”

• The reliably oscitant Matthew at “The Politic” gets into an incoherent lather over the French-led Mediterranean Union, comparing it to the Roman Empire, prompting one commenter to describe the site as “Indistinguishable from the ramblings of a drunken hobo who forgot his meds!”

• The Order of Canada is representative of the “cultural chasm” separating the “elites” from the “public” according to Mark at Daimnation! Imagine that, an honorific order actually made up of people that aren’t “just plain folks” but are, in fact, “outstanding” in some way or other. Outrageous!

• So where do you get these “Pol Pot Hats” exactly? Gerry “Shecky” Nicholls, what a card that guy is.

• What, no replicators? Canadian researchers at the University of Guelph aim to be the first to grow food on the moon.