HawthorneVillager.com

Sent this morning...


Dear CIBC,
When I first moved to downtown Milton there were three CIBC locations right on Main St that I could walk to for my banking. There was was an ATM and "investment centre" in the strip-mall at Ontario and Main, there was an ATM kiosk in the Post Office parking lot, and there was the Main Street branch itself.
All of these locations have been closed, and CIBC has abandoned Milton's downtown. I have patiently asked for and waited for you to provide a downtown bank or ATM. I moved to Milton's downtown because of it's convenience and walkability. TD and Scotia have a continued presence in the downtown, and there is a credit union option as well. When can I expect to see a CIBC ATM on Main St.?
Thank you

why don't you just use another atm?

Deposits

It's amazing how we have romantic nationalistic attachments to our multi-billion-dollar banking cabal.

Look at the Scotiabank, they're reporting a 3/4 year net profit of $5.7B, probably on their way to $7.5B or more for the full year..... but they're still chopping 1000 jobs in Canada. Probably will not loose many customers over it, either (except maybe the choppees).

_________________
This one thing probably never goes away
I think this one thing is always supposed to stay
This one thing doesn't have to go away

Well, if a letter to the CIBC president doesn't work, try a sternly written letter to the editor. That will show them the error of their ways.

They don't care. Find a new bank.

"Thank you for taking the time to write to us.

I apologize for any inconvenience.

Please note, you may access the PC ABM at the Real Canadian Superstore
on 820 Main St. E as well as the CIBC ABM at the Petro-Canada gas
station on 235 Steeles Ave. E

Communications such as yours help us to determine areas which require
our attention. I appreciate you taking the time to bring these comments
to my attention.

Your feedback is important to us. We invite you to take a quick survey
at [http] to share your experience and feedback on this
interaction"

Meh. I can say I tried.

They have those profits because they only employ people they need. This isn’t a government that can pretend it exists in la la land.

Even if they did decide to be charitable and keep 1,000 people around they didn’t need, that would cut their profits, which would reduce their dividend, which many pensioners rely on for retirement income, and many working people reinvest to grow their RRSP’s.

You can’t act like they’re just a big greedy business and ignore all the amazing things banks and their fat profits do for society, unless you want all those amazing things to disappear as well.

But back on topic… who banks with CIBC? It’s the worst of the big banks.

Dying sucks too, but if we ever found the fountain of youth we’d overpopulate and starve to death in 100 years. It’s called life, and sometimes shitty things need to happen so things can continue to function smoothly.

Everyone is better off for it, even if those layed off people need to look for new work. They recover, and everyone is better off in the end.

On that, you may have a leg to stand on...

Does everyone truly recover though? Honestly.. I ask this because my place recently went through a bunch of restructuring and oddly enough, the only ones who got the pink slip were older (50+) who had a number of years with the company and as a result built up a hefty pension. There is not one in the 100+ that were canned that have found a good, full time job yet. Some of them have found contract jobs (no benefits, security or pension), but it is nowhere near what they had. So how do people really recover? Who wants to hire a 50+ year old these days?

I never said it was painless. In the short term I’m sure it’s devastating. Perhaps some of them never find another job that was equally as good, so they don’t ever fully recover. Perhaps some of them find a job that’s way better.

I guess in the worst case scenario, you simply adapt and move on. You aren’t going to die, but your life may never be as good as it was.

I still say that’s life. I imagine these are low skill positions we’re talking about, so it’s certainly going to be tough when you’re competing against the masses of people equality as qualified as you are.

I’m in the tech industry, so these issues don’t really exist in my world. Talent is always in short supply. We’ll hire a 50 year old as quickly as a 20 year old.

To me, age has nothing to do with it, but if your 50 and have no skills it’s going to be harder simply because any job that’s physically demanding is off the table for you. But harder isn’t impossible. I’m a strong believer that if you just keep at it for as long as it takes, anyone can find what they are looking for. Most people just give up after a few defeats.

Regardless of how you look at it, the alternative is worse. Companies just keeping people around because they feel bad for them would just result in fat, inefficient companies with low profits and low productivity (like the government). Many would just go bankrupt when new companies come along and out compete them – until those new ones got fat and inefficient too and the cycle repeats. Your damned if you do, and damned if you don’t.

7+BILLION in profits. What, exactly, is your magic number for "high profits" if 7+BILLION is "low" and worries you?

TD CEO Ed Clark: I'm paid too much, so I give back
http://www.cbc.ca/news/business/td-ceo-ed-clark-i-m-paid-too-much-so-i-give-back-1.2818836

It’s 7 billion because they are running an efficient operation.

If they were the Bank of Bleeding Hearts, it’s safe to assume that not only would this latest round of cuts not happen, no cuts made in the past would have happened either. There would be no profits because the bank would be full of branches and people that aren’t doing anything to make the company any money.

That makes absolutely no sense. Those profits are recycled into the economy in one way or another. If you want to save those jobs and have a bunch of people sitting around accomplishing nothing, something’s gotta give eventually. Those profits feed retirees and create jobs elsewhere. Even the overpaid CEO couldn’t cover the salaries of 1,000 people.