Here's a story that raises an issue I wouldn't have thought of. But this is an issue across the board. Where there are talented people who can work in either the U.S. or Canada the falling loonie will make it harder for Canadian firms to attract and keep the talent. Of course, the lower labour costs for manufactured goods may well offset the increased talent costs -- the issue is not simple.
Falling loonie has Canadian NHL teams worried
The unpredictable nature of the loonie means the NHL's six Canadian teams are involved in a high-stakes contest of chicken, trying to stay one step ahead at all times.
The unpredictable nature of the loonie means the NHL's six Canadian teams are involved in a high-stakes contest of chicken, trying to stay one step ahead at all times.
The unpredictable nature of the Canadian dollar means the NHL's six Canadian teams are involved in a high-stakes contest of financial chicken, trying to stay one step ahead of the loonie at all times.
It's a game they can ill afford to lose.
As recently as last November, the Canadian dollar briefly reached $1.10 US, and still hovered above par with its American counterpart in May. But on Wednesday the once-mighty loonie plunged below 80 cents U.S., and it could keep falling, according to market experts.
Not surprisingly, NHL owners north of the border are monitoring this situation closely.
NHL teams pay their players in American currency, which means the plummeting Canadian dollar has serious ramifications on the league's Canadian clubs.
Full story here:
2 comments:
Which means ticket prices will increase - & they are already beyond the reach of the average fan.
Sadly yes!
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