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Target misses the mark again & Joey Bats’ bomb pays off: BUSINESS WEEK WRAP


The federal election dominated the headlines this week, and the business press was no exception. CBC covered the Liberal sweep from every angle, including a few you aren’t likely to find anywhere else.

Such as this story, about how the business community reacted to a a new Liberal majority. On the whole, it’s fair to call Bay Street’s reaction to the PM designate “lukewarm” — generally OK with most of his economic platforms, but also fairly happy to just see a majority and do away with the uncertainty that minority governments can bring.

That’s even the case in the oilpatch, where the prospect of losing a staunch ally in Stephen Harper but gaining an unknown commodity in Justin Trudeau has been met with just as much optimism as fear.

But there’s one way in which Trudeau is a sure-fire win for Canadian business, branding experts say, and that is by leveraging his international appeal. Marketing expert Ron Tite told us this week the new PM could help boost immigration and stop Canada’s creative brain drain — but there are risks too.

“Justin is going to have to manage the people around him. He has a great team so far, but everybody’s going to be looking for Justin to stumble,” Tite told host Bruce Sellery on CBC’s The Exchange this week.

Target misses the mark — again

Over its short life in Canada, retailer Target was one of the most popular topics on our pages, as our readers couldn’t seem to get enough news about the discount U.S. retailer that set up shop in Canada to much fanfare, only to close down in a blur less than two years later, felled by poor logistics and high prices.

The chain closed up shop under a mountain of debt in April, but today, CBC News rooted out some news: They’re baaaaack.

Sort of.

The chain this week allowed shipping to Canadian addresses on its online store. There are shipping and handling fees tacked on, but the prices are listed in Canadian dollars. So if you were looking for the chain to return to Canada some day, this might be your best bet.

But brace yourself for a shock: many Canadians are finding themselves disappointed by the prices and selection of goods on offer. Sound familiar? Our reporter Sophia Harris reported on prices being more than twice as high, at times, in Canada versus the U.S. when currency conversions and taxes and shipping fees are tacked on.

It all sounds very familiar. 

“My instinctive reaction [is] that this is something that we will collectively laugh about,” McMaster University marketing professor Mandeep Malik told her. “Like, really?”

Really!

Joey Bats’ homer fetches a pretty penny

Most Canadians will remember Toronto Blue Jays slugger Joey Bautista’s home run to put the team ahead in the deciding game of the ALDS earlier this month. It was likely the biggest home run in Canada in 22 years, and sports collectors are hoping to cash in on that celebrity by getting their hands on the jersey he wore while doing it.

The winning bidder of an online auction for the jersey dropped $ 27,606 to own the garment. It’s all for charity, so it’s likely a good use of cash either way, but one professional collector says the item’s value as a long-term collectible hinges on how the season ends up (and at press time, the Jays readying to fight for their playoff lives in Game 6 of the ALCS).

Toronto Blue Jays Jose Bautista bat flip

Jose Bautista’s home run may have been priceless, but that didn’t stop one collector from paying $ 27,000 for the jersey he wore while doing it. (Tom Szczerbowski/Getty)

The home run may have a priceless sentimental value, but from a financial perspective, the team probably needs to win it all for the jersey to retain its value.

“That’s buying into the hysteria of the moment,” Glen Pye of Glory Days Collectibles told the CBC’s Aaron Saltzman. “We sell into the hysteria of the moment, we don’t buy into it.”

Other stuff

Those were just a few of our best stories of the past week. For more, be sure to check out our homepage, and don’t forget to follow us on Twitter to always stay up to date

In the meantime, here’s a day by day list of the most-read stories we wrote in the past week.

Monday

Tuesday

Wednesday

Thursday

Friday

CBC | Business News

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