The crisis struck municipalities, companies and clubs across the nation last week. In Ottawa the Canadian Ski Association declared that it might pull its national teams off the World Cup circuit because it could not obtain liability insurance—at any price.
For months the Canadian dollar had drifted slowly downward on world markets. Then, last week currency dealers on Wall Street, in the City of London and in Chicago suddenly decided to sell it in large amounts—and in a day of frenzied trading they drove it to a historic low point.
In August, 1984, the Committee on Sexual Offences Against Children and Youths jolted a complacent nation when it reported that more than 15 per cent of all Canadians experience sexual abuse during their childhoods. Toronto sociologist Robin Badgley, chairman of the 11-member federally appointed committee, recommended extensive changes in the Criminal Code to deal with the problem and to punish offenders.
The bulletin swept through the Washington head office of U.S. News & World Report with the speed of a late-breaking scoop. The newsmagazine’s owner, Montreal-born real estate multimillionaire Mortimer Zuckerman, was flying in from his New York headquarters with his personal public relations agent for a hastily called editorial meeting.By MARCI MCDONALD6 min
The verdict was nearly unanimous. Most economists, market analysts and currency traders in the financial capitals of the world agreed last week that it was time to sell Canadian dollars. Many economists criticized the government’s apparent inability to cope with the nation’s deficit.
The pattern was a familiar one. When the dollar began to drop on international money markets last week roughly equal numbers of Canadians rejoiced as despaired. The declining dollar resulted immediately in higher interest rates for loans and mortgages.By ANN FINLAYSON6 min
Industry Minister Sinclair Stevens was unapologetic. His controversial role in the closure of a Montreal oil refinery last month had led to the resignation of one cabinet minister, Suzanne Blais-Grenier, and evoked the first major expressions of dissent within the Conservative parliamentary caucus.
With its pipes purged of steam, Ultramar Canada Inc.’s eastend Montreal oil refinery moved closer last week to a complete shutdown. But for Prime Minister Brian Mulroney, the political tempest stirred by the refinery closing was undiminished.By BRUCE WALLACE5 min
Authorities recently plucked a live hand grenade from a trash can at Boston Garden—planted, it turns out, in the name of social commentary. For scheduled to oppose the Boston Bruins was an enemy more despised than opponents from Philadelphia, New York or the far northern province of Gretzky.By Fred Bruning5 min
As the poor dinosaurs learned, the world evolves. That which does not adapt is left behind. To perish, to fall, to become the mulch upon which we build our succeeding magnificent civilizations, which may contain Inca temples, Plato, Beethoven, Buchenwald, rock videos or Ed McMahon.By Allan Fotheringham4 min
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