Tag Archives: Marketplace

Two Updates:

Ford F150 Lightning: Last year we talked about the new electric vehicle (EV) that had a massive amount of pre-orders. Well, fast forward to the fall and it appears the novelty and excitement have worn off. I have to admit, EVs still aren’t ready for prime time or trustworthy use – and probably won’t be for at least five years or so.

One of the stories on the all electric F150 is on youtube from CBC TV. It’s a short three minute nightmare story of a family from Winnipeg wanting to just drive to Chicago: No charging stations, no range, needing a hotel and eventually renting (yes renting) another vehicle to finish their trip.

That was followed last week by a Marketplace segment (S51 Ep9) testing a Tesla on a simple 400km trip. With a range of 425km that should have been possible. Not even close due to cold weather which, experts say, reduces battery life by around 50%. No, the range advertised isn’t even close to reality in cold weather. But manufacturers aren’t required to do testing and supply range in anything but ‘ideal’ weather. Plus very few charging places and 7 of the 12 they tried didn’t work. Oh, and a huge range of prices to charge an EV. But there’s no chance to shop around when it’s the only one even working and available…

There’s no chance I can afford or justify an EV. That’s a money and spending issue that others may not share. But as EV stocks are tanking and one manufacturer after another is announcing they won’t make targets, it’s clear people are voting with their (not) buying decisions: Range anxiety, no place to recharge, and a good chance you’ll be getting a hotel room to make your daytrip. No thanks…

Three-year cruise: Also last year there was a company marketing a three-year cruise that we talked about. It made for a lot of dreaming and wishing but it was cancelled.

No reports on their pre-sales but the company announced that they were unable to lease a cruise ship. So they did all this without getting a ship booked or optioned first? Gees…But not a surprise as cruising took a big hit during Covid and people were still not willing to get back on the seas in early 2023. This year will be pretty big for the industry. Sadly that’ll translate to very few deals…

Lots Of Financial News In Just a Week!

Canadian banks are kind of ashamed they’re Canadian. Bank of Nova Scotia is now Scotiabank, Toronto Dominion is TD, Canadian Imperial Bank of Commerce has been CIBC for a long time, and the Bank of Montreal is BMO.

Last week, the Royal Bank went on a huge wave across the country to replace all their branch signs to read: RBC Royal Bank. The next wave will be to do away with the Royal Bank part altogether. Oh how I want to be in the sign business. In Canada it’s cool to be Canadian, but in the rest of the world, they don’t want to advertise that at all.

The RCMP in BC want to get the word out on a new phone/credit card scam. The crooks already have your stolen credit card number and give you a lot of information to put you at ease. All they’re after is the three digit security code and they can go crazy with online purchases. It’s the last and only thing they ask for, claiming they just need to “verify that you’re the cardholder.” Don’t ever talk to anyone about your credit card. Hang up the phone and dial only the number on the back of your card! Here’s the link from the RCMP:

Last week, CBC’s Marketplace did a short story on breakfast sandwiches. They’re loaded with fat, get you two-thirds of the daily sodium and a ton of calories. But here’s an alternative diet plan: Last week, New Hampshire just rolled out new scratch and win lottery tickets. They are now bacon flavoured. So grab your coffee and just sniff the lottery ticket. You’ll still lose, but you’ll win on the calories, fat, and sodium reduced breakfast!

Also last week, TD rolled out a ton more new ATM machines. These ones are optical readers. Just insert the cheque or cash you’re depositing. No more envelopes and you don’t even need to key in the amount of the cheque. Your receipt will print out a picture of the cheque you deposited. It was only last year we talked about taking a picture of a cheque with your smartphone and it’s deposited. Boy, how technology is advancing quickly.

The middle of last week, the Bank of Canada cut the bank rate by a quarter of a point. We’re a resource country and they’re seriously concerned with our economy with oil dropping by almost 50%. Within 24-hours, the banks cut most of their savings accounts interest rates by a quarter point. But they also announced that, no – they’re not cutting their lending or mortgage rates. So savers get ripped off and borrowers get hosed in order to make another few billion dollars. NOT nice and not right!