Motorcycle crash in the Falls

It’s been a bad day for motorcyclists on roads in the Niagara region.A man in his 30’s was airlifted to Hamilton General Hospital with serious injuries after his motorcycle was involved in a crash with a car on Lundy’s Lane Tuesday evening.The collision forced a section of Lundy’s Lane from Beechwood Road to Highway 58 to be closed for several hours while police investigated.There’s no word on the victim’s name or if any charges will be laid.A motorcyclist was killed earlier in the day after colliding with an SUV in Fort Erie.00:00:00 | 00:00:00::Projekktor V1.3.09

Fords profit falls 39 per cent in first quarter on weaker North

Tthe Ford logo sits on the grill of a 2013 Ford F-350 truck in Pittsburgh, Feb. 14, 2013. THE CANADIAN PRESS/AP, Gene J. Puskar DEARBORN, Mich. – Results at Ford Motor Co. could test investors’ willingness to hang in during a year of lower profits on the promise of better returns ahead.Ford said Thursday its first-quarter net income fell 39 per cent to $989 million, or 24 cents per share. That’s down from $1.64 billion, or 41 cents per share, in the January-March period a year ago.Dearborn-based Ford had warned that this year would be leaner than 2013, when it enjoyed a near-record pretax profit of $8.65 billion. It’s a transition year for the company, which is launching a record 23 vehicles worldwide and building seven plants, including four in China.That means a lot of up-front costs that won’t immediately pay off. For example, Ford is halting production at its U.S. truck plants for 13 weeks this year to prepare for the launch of the new aluminum-clad F-150. It won’t see substantial sales of the truck until next year.The results also held some surprises for investors, including a $400 million contribution to Ford’s warranty reserves and $100 million in higher shipping costs and other weather-related charges from the brutal winter.Excluding a charge for plant closings in Europe, Ford earned 25 cents. That was far short of Wall Street’s expectations. Analysts polled by FactSet forecast earnings of 31 cents per share. Ford’s shares fell 3.3 per cent to $15.78 in afternoon trading.Chief Financial Officer Bob Shanks promised that results will improve in subsequent quarters. Ford still expects a full-year pretax profit in the $7 billion to $8 billion range despite volatility in South America, Russia and Turkey, he said.“We feel that we’re moving forward very nicely in what we expect for the year, and it’s setting us up for stronger growth and stronger profitability in 2015,” Shanks told reporters Friday.Revenue rose slightly to $35.9 billion. Worldwide sales were up 6 per cent to nearly 1.6 million.Most analysts were resigned to slogging through 2014 with Ford on the expectation of an upside next year.“We think Ford is on track for meaningful net income improvement in 2015,” said S&P Capital IQ analyst Efraim Levy, who has a “Buy” opinion on Ford’s shares.Ford’s powerhouse North America division, which led it out of the recession five years ago, slipped in the first quarter. Sales fell 2.4 per cent, the first year-over-year decline in the region in nearly two years, hurt by bad weather and low buyer interest in smaller, fuel efficient cars like the Focus and C-Max hybrid. While the F-Series pickup continued to see gains, sales of other big sellers like the Fusion sedan and Escape SUV fell from last year.North American pretax profit fell 37 per cent to $1.5 billion. Revenue in the company’s most profitable region fell 5 per cent to $20.4 billion.North America took the $400 million hit for warranty and repair costs. The company said costs for warranty claims have been rising, so it decided to add $340 million to its reserves this quarter for vehicles from the 2008 through 2013 model years. Ford said the decision wasn’t related to the spate of first-quarter recalls at rival General Motors Co.Ford also spent $60 million on two first-quarter recalls of older-model Crown Victoria sedans and Escape SUVs.In a role reversal, Asia and Europe were the sources of Ford’s biggest sales growth. Ford’s Asia Pacific region posted a record $291 million pretax profit, reversing a $28 million loss from a year ago. First-quarter sales soared 45 per cent in China to 271,321 vehicles.European sales, long a sore point for Ford, rose 11 per cent to 326,000. The company cut its European losses by more than half, to $194 million.South America remains a struggle for Ford. There, losses more than doubled to $510 million as industry sales dropped and Ford accounted for the effects of unfavourable currency exchange rates.Also Friday, CEO Alan Mulally, 68, said there is no change in the plan for him to stay with the company at least through the end of this year. Recent reports have speculated that Mulally will leave the company sooner and Mark Fields, Ford’s chief operating officer, will become CEO. AddThis Sharing ButtonsShare to TwitterTwitterShare to FacebookFacebookShare to RedditRedditShare to 電子郵件Email Ford’s profit falls 39 per cent in first quarter on weaker North American results; shares fall by Dee-Ann Durbin, The Associated Press Posted Apr 25, 2014 5:06 am MDT read more

Goodman honours early alumnus with distinguished graduate award

Mark Arthur (BA ’77), president of Industrial Alliance Private Wealth Management, is being honoured with the award in recognition of his outstanding professional achievements.One of the first graduates of Brock University’s business program has been named the 2014-2015 Goodman School of Business Distinguished Graduate.Mark Arthur (BA ’77), president of Industrial Alliance Private Wealth Management, is being honoured with the award in recognition of his outstanding professional achievements.The Distinguished Graduate Award celebrates the outstanding professional or personal achievements of graduates of the Goodman School of Business at Brock University.Every year, an alumnus from the Goodman School of Business meets with student leaders and is honoured at the annual Distinguished Graduate Reception.“It is a great honor for us at the Goodman School of Business to recognize Mr. Arthur’s contributions as a leader in the field of finance, particularly given that he is an alumnus of the first graduating class of business students at Brock University,” says Don Cyr, dean, Goodman School of Business. “This is especially significant this year, given the 2014 celebrations of the establishment of Brock University.”Mark Arthur is the president of Industrial Alliance Private Wealth Management, which manages the private wealth management companies within that organization.He is the CEO of three operating companies within the IA group, TE Wealth, Leon Frazer & Associates Inc. and Hahn Investment Stewards & Company Inc.Mr. Arthur joined the predecessor company Jovian Capital Corporation in 2003 as one of the partners. Jovian invested in the financial services arena by acquiring, creating and growing companies.Over 10 years Jovian built a diversified growing portfolio of unique companies involved in the traditional and emerging asset management business.Prior to his time at Jovian, Arthur held the title of president, chief investment officer and director at RBC Global Investment Management Inc., the position of president, chief executive officer and chief investment officer at Royal Bank Investment Management Inc. – Royal Mutual Funds and was also appointed as the chairman of Investment Strategy Committee, Wealth Management Division.Arthur also holds his Chartered Financial Analyst (CFA) designation as well as an MBA from the Western University.Past distinguished graduates have included Doug Wilkinson (BBA ’91), Deloitte & Touche LP; Deborah Rosati (BAcc ‘84), Karma Atheltics Ltd., Sears Canada; Dr. Paul Ingram (BBA ’90), Columbia University; Debbie Sevenpifer (BAdmin ’87), YMCA of Greater Toronto; Dr. Stephan Young (BAdmin ’84), Citi; Jim Ryan (BAdmin ’86), Pala Interactive; John Zoccoli (BAdmin ’86), Jamzoc Holdings Limited; James MacLellan (BAdmin ’87), Borden Ladner Gervais LLP; Kristian Knibutat (BAdmin ’86), PricewaterhouseCoopers LLP; Jeff Park (BAcc ’85),Catamaran; Fred Losani (BAdmin ’87), Losani Homes; and Anne-Marie Robinson (BBA ’90), Public Service Commission of Canada. read more