All Things COVID-19

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ab1752 said:
The work from home junk? We are enabled to do that at all times, from a technology perspective. But the DFing I am seeing, the policy will revert to a case by case basis for GD sure.
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No the credit line. Temporary measure or is this just a good chance to get more?
 
Yeah we don't have credit line either as corporations tend to be a little harder, and those things scare me a little. I assume if you get it it has to be attached to something that the bank can get back if you default. I am going to try our BMO just made a big statement yesterday how it wants to support businesses. See how it goes...
 
Canada Goose Dedicates Manufacturing Resources in Fight Against COVID-19

Mar 25, 2020

Dedicated team in Toronto and Winnipeg to begin production of medical scrubs and patient gowns as part of the Canada Goose Response Program

TORONTO, March 25, 2020 /CNW/ - Canada Goose (NYSE/TSX: GOOS) today announced the company will leverage its manufacturing facilities to begin production of necessary medical gear for frontline healthcare workers and patients across Canada in the fight against COVID-19. The company will begin making scrubs and patient gowns, which are in short supply across the country, and will begin distributing them to hospitals next week.

To help address the urgent need facing healthcare workers and patients across the country, Canada Goose has committed to producing medical gear at two of its manufacturing facilities, starting in Toronto and Winnipeg, with the opportunity to extend production across additional facilities as needed. With production set to begin early next week, approximately 50 employees per facility will work to manufacture the gear and have an initial goal of producing 10,000 units.

"Across Canada, there are people risking their lives every day on the frontlines of COVID-19 in healthcare facilities, and they need help. Now is the time to put our manufacturing resources and capabilities to work for the greater good," said Dani Reiss, President & CEO, Canada Goose. "Our employees are ready, willing and able to help, and that's what we're doing. It's the Canadian thing to do."

The company is working closely with federal, provincial and local health authorities and will follow the recommended protocols to ensure a safe work environment for employees, including: implementing social distancing protocols, limiting the number of employees located within specific spaces, and increasing sanitation measures within facilities to ensure the health and safety of team members.

Canada Goose Response Program COVID-19 Initiatives to date:

  • Production of Personal Protective Equipment: Beginning week of March 30th, Canada Goose will manufacture scrubs for healthcare workers as well as patient gowns. The gear will be donated locally at no cost, with the goal of providing as much equipment as possible to those in need.

  • Canada Goose Employee Support Fund: On March 17th the Canada Goose Employee Support fund was established for employees who are impacted by store and manufacturing closures but are not eligible for government assistance. In a letter to Canada Goose employees, Dani Reiss announced that he will forego his salary for at least the next three months, which will be used for the Employee Support Fund.

  • Wuhan Charity Donation: On February 6th Canada Goose announced a RMB1 million donation to the Wuhan Charity Federation to help fight the COVID-19 outbreak. The Wuhan Charity Federation is a non-profit organization designated by the Wuhan City Epidemic Prevention and Control Headquarters to receive donations for relief efforts.
About Canada Goose Inc.

Founded in a small warehouse in Toronto, Canada in 1957, Canada Goose has grown into one of the world's leading makers of performance luxury apparel. Every collection is informed by the rugged demands of the Arctic and inspired by relentless innovation and uncompromised craftsmanship. From the coldest places on Earth to global fashion capitals, people are proud to wear Canada Goose products. Canada Goose is a recognized leader for its Made in Canada commitment, and is a long-time partner of Polar Bears International. Visit canadagoose.com for more information.

SOURCE Canada Goose

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For further information: Media Contacts: Hannah Korsunsky, Manager, Corporate Communications, hkorsunsky@canadagoose.com

https://www.newswire.ca/news-releas...rces-in-fight-against-covid-19-836392863.html
 
Rain City said:
No the credit line. Temporary measure or is this just a good chance to get more?
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Right I don't know how they will implement the roll back. If folks are hammered into the new funds, they can't simply issue a demand and halt the funding. We are not using it at all but I wanted to have the comfort of the extra funds, we have some massive invoices heading out all over the world and who knows, if one is slow walked the rub will hurt until the funds are submitted.
 
ab1752 said:
Right I don't know how they will implement the roll back. If folks are hammered into the new funds, they can't simply issue a demand and halt the funding. We are not using it at all but I wanted to have the comfort of the extra funds, we have some massive invoices heading out all over the world and who knows, if one is slow walked the rub will hurt until the funds are submitted.
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My thoughts as well. I already have one I don't use but I'll always take cheap money when I can get it. I remember in 2008 there were guys that had CLs of prime -.5%
 
From our head office office this morning.


Mayor Ackerman shared a video on Facebook (which you may want to check out on her Facebook page). The intent is that the State of Emergency will be stood down once the Province has Orders that address three concerns


  • Ability to prevent hoarding/price gouging
  • Worker safety as they transition to work intended to help in the COVID crisis
  • Resident safety (related to camp workers coming into town
Regards,


Follow up to this mornings email. CAPP has chatted with Lori Ackerman today and she confirmed 16 infected people at the Site C camp.

I know that the Site C camp should not pose a problem to our operation but we do have services out of FSJ. So just a heads up

Sorry for those that don’t know, Lori Ackerman is the mayor of FSJ and this morning they declared a state of emergency.
 
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SpringVelocity said:
Yeah we don't have credit line either as corporations tend to be a little harder, and those things scare me a little. I assume if you get it it has to be attached to something that the bank can get back if you default. I am going to try our BMO just made a big statement yesterday how it wants to support businesses. See how it goes...
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The wife just got this from our accountant.
 

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We are ok yet as we are still working and our head company is doing its best to keep a small fairly isolated group of us working. Unreal the precautions we are under but it’s worth it. Basically working in a hospital like environment. Temp checks each morning on everybody on site, baseline questionnaires for any new crew member coming onto site. No direct interaction with outside people it’s all through text and emails, even safety meetings are done via text and auto sign ins.

So we aren’t going to take any government money as of yet because I darn well know when this is over they are going to come for their money with a vengeance I would just as soon not owe them any.
 
SpringVelocity said:
Yeah we don't have credit line either as corporations tend to be a little harder, and those things scare me a little. I assume if you get it it has to be attached to something that the bank can get back if you default. I am going to try our BMO just made a big statement yesterday how it wants to support businesses. See how it goes...
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Generally a secured line of credit has a higher cap as mine was written in as a 2nd mortgage against my house. Anyone with a reasonable credit rating can get a personal unsecured one
 
SpringVelocity said:
Some business guys I know got rejected already from BDC , so that wasn't a surprise. I never heard anything, and trying banks now. A lot of them are locked with financing as the system is just getting overloaded. I think business and the owners are on their own from what I have found. I am getting prepared as back up to go work somewhere until this blows over. Maybe I will stock groceries?

I also have my name on the government emergency list to manufacture items for the COVID 19 response if needed.
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I have used BDC in the past as a last resort....a few times, and they have always come through. Nothing bigger than 40,000 mind you.
Would be curious the reason they are rejecting people.
 
SpringVelocity said:
It's a loan.

"The repayment amount will be determined by the government. No interest payments would be charged on the amount owed."
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You mean the $2000 per month? and everything's a loan, we'll be paying for this for the next 20 years probably with increased taxes.
 
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