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Volume 12, Issue 39, October 17, 2012

Inside This Issue:

Register for Industry Cocktail (December 13th in Montreal)
Loblaw Cuts 700 Head Office, Administrative Jobs 
Wal-Mart Outlines Financial Plan for Next Year  
Bain Capital to Acquire Apex Tool Group for $1.6 Billion  
September Home Resales Rise from August but Plunge 15.1% Year-Over-Year
New Home Prices Rise in August
New Leading Economic Indicator Introduced
Canadians’ Debt Levels Higher Than Previously Estimated
Canadian Companies Less Positive Amid Global Uncertainty
Consumer Confidence in Canada Holds Steady
Latest U.S. Economic News  

Association News

Register for Industry Cocktail (December 13th in Montreal)    
This year’s Industry Cocktail will be taking place on Thursday, December 13, 2012 at the W MONTRÉAL HOTEL, 901 Square Victoria, close to picturesque Old Montreal, the Montreal Museum of Fine Arts and the city's world-class downtown.  W Montréal is a stylish luxury hotel located in the city's historic Bank of Canada building. It was winner of the Condé Nast Traveller UK's coveted Best New Hotel award and a 2010 Fodor's Choice distinction selection.  For further information and/or to register, please click on the following links: French Registration         English Registration    

Industry News
Loblaw Cuts 700 Head Office, Administrative Jobs  
Loblaw Companies Limited said on Tuesday that it is cutting about 700 office and administrative jobs as part of a continuing turnaround plan to reduce costs and make the company more efficient.  The Canadian grocery giant said in a news release that job notices will be going out immediately and the cuts should be complete within three weeks. It said the move will result in a one-time expense of $60 million, to be recorded in the fourth quarter of its financial year.  Read More >>

Wal-Mart Outlines Financial Plan for Next Year  
Wal-Mart Stores Inc. held its 19th Annual Meeting for the Investment Community last Wednesday and said it is gaining market share nearly everywhere it runs stores and still sees its international business as a growth engine despite its decision to slow down store openings in some key countries.  The company told analysts and investors that it is seeing growth in both large and small U.S. stores and has had a strong start to layaway sales ahead of the holiday season.  Read More >>

Bain Capital to Acquire Apex Tool Group for $1.6 Billion
Bain Capital Partners LLC, a leading global private investment firm, announced last Wednesday that it has signed a definitive agreement to acquire Apex Tool Group, a leading tools manufacturer, from Danaher Corporation and Cooper Industries. The transaction is valued at approximately $1.6 billion subject to post-closing adjustments. Additional terms of the deal were not disclosed.  Read More >>     

Economic News
September Home Resales Rise from August but Plunge 15.1% Year-Over-Year      

According to statistics released Monday by the Canadian Real Estate Association (CREA), national home resales rebounded slightly in September, marking the first monthly increase since the spring, but were 15.1% below levels of a year ago – mainly due to a slowdown in Vancouver.  Read More >>

New Home Prices Rise in August 
Statistics Canada said last Thursday that its New Housing Price Index (NHPI) rose 0.2% in August from the month prior, following a 0.1% increase in July.  On a year-over-year basis, the NHPI was up 2.4% in August, following a 2.3% increase in July.   Read More >>

New Leading Economic Indicator Introduced    
Last Thursday, the Ottawa-based think-tank Macdonald-Laurier Institute launched a new leading economic indicator, filling a gap left by the cancellation of Statistics Canada’s monthly index. The first monthly reading of the MLI index (which tracks nine components) showed an increase of 0.1% in August, following four consecutive monthly gains of 0.2% determined from historical data.  Read More >>  

Canadians’ Debt Levels Higher Than Previously Estimated      
The household debt of Canadians, a worrying number for the Federal Government and the Bank of Canada, was even higher than originally thought last year, according to revisions by Statistics Canada announced on Monday.  In 2011, the ratio of household debt to income was 161.7%, up from 150.6%, under a new system of economic accounting adopted by the agency. And that rate has continued to rise in the first half of 2012.  Read More >>    

Canadian Companies Less Positive Amid Global Uncertainty       
Canadian companies are scaling back on their business and investment plans because of weak global growth and uncertain demand, according to a Bank of Canada survey.  In its autumn Business Outlook Survey released on Monday, the central bank said that Canadian companies “have tempered their expectations for business activity.”  Read More >>     

Consumer Confidence in Canada Holds Steady     
According to the latest consumer confidence survey conducted by TNS in early October and released last Thursday, Canadian consumer confidence dipped very slightly in October, but not enough to represent a statistically significant drop.   Read More >>  

Latest U.S. Economic News               

U.S. housing starts surge to fastest pace since 2008; U.S. consumer prices rise 0.6% in September led by gasoline; U.S. retail sales rise in September, point to stronger economic growth ... Read More >>

 Upcoming CHHMA Events 

Industry Cocktail
Thursday, December 13, 2012
“W” Hotel, Montreal, Quebec 

Canada Night
Sunday, March 3, 2013
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM
Wednesday, April 10, 2013
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night
Tuesday, May 7, 2013
The Mirage Hotel & Casino, Las Vegas, Nevada

CHHMA Quebec Golf Classic
Thursday, May 23, 2013
Club de Golf Le Fontainebleau, Blainville, Quebec

CHHMA Ontario Golf Tournament
Tuesday, May 28, 2013
Angus Glen Golf Club, Markham, Ontario

CHHMA Industry Calendar

To register for all events visit our website at or call Pam Winter at (416) 282-0022 ext.21.


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"Eye On Our Industry" is published by the CHHMA as an information resource for our members. Member input regarding content and format is welcomed. Please contact Michael Jorgenson by email:, or call at (416) 282-0022, ext. 34. CHHMA is located at 1335 Morningside Ave., Suite 101, Scarborough, ON, M1B 5M4

Canadian Hardware & Housewares Manufacturers Association | 1335 Morningside Ave., Suite 101, Scarborough, ON M1B 5M4
Telephone: (416) 282-0022   Email: