The Daily Chase: Ed Rogers takes board overhaul fight to court; Decision day for Tiff Macklem
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Edward Rogers will have his day in court next Monday, when the B.C. Supreme Court will hear the case pitting him against his family and incumbent directors in a power struggle that’s led to two boards of directors claiming to be overseeing Canada’s largest wireless operator.
Edward Rogers will have his day in court next Monday, when the B.C. Supreme Court will hear the case pitting him against his family and incumbent directors in a power struggle that’s led to two boards of directors claiming to be overseeing Canada’s largest wireless operator. Court documents released yesterday included bombshell revelations (with supporting paperwork) that a plan was hatched to oust Rogers Communications Chief Executive Joe Natale from his role, only for that plan to collapse after Loretta Rogers and Martha Rogers reconsidered their positions. The deeper you go into the court documents and exhibits, the more incredible the story becomes. All of which raises significant questions about investor confidence, regardless of how this dispute plays out next week. Important to point out that none of the claims have been tested or proven in court -- and that Loretta Rogers admonished her son’s framing of the story and John MacDonald (who Rogers Communications maintains is its rightful chair) similarly blasted Mr. Rogers’ portrayal as “utterly false.”
BANK OF CANADA DECISION DAY
It’s not so much the decision as the tone about inflation that will be the story today. With Canada’s consumer price index running at the hottest level since early 2003, and the country having recently recouped all jobs lost during the pandemic, will the central bank change its tune? Or will it continue to signal that rates won’t rise until the second half of next year? One decision we’re watching for is a further tapering of emergency stimulus by way of reducing the quantitative easing program that’s currently running at a rate of $2 billion per week. Exciting news for us: Greg Bonnell is in Ottawa to lead our coverage.
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