Tag Archives: Hudson Bay

Why Saks May Be a Big Problem for Hudson Bay

By Walter Loeb, Contributor On Monday, July 29, 2013 the announcement was made that Richard Baker Chairman, Governor and CEO of Hudson Bay made a bid to acquire Saks Fifth Avenue for $16 a share in an all-cash transaction valued approximately $2.9 Billion including debt.  Shareholders must approve the deal.  In 2012, Hudson Bay recorded sales of $4.1 billion while Saks reached $3.2 billion.  We expected an announcement that Saks Fifth Avenue would be bought and the most likely bidder would be Richard Baker—but, to me, the question is will it work?   I have my doubts. …read more

Source: FULL ARTICLE at Forbes Latest

Get Ready, Canada: Saks Fifth Avenue Is Coming Your Way

By Justin Fenner

Saks Fifth Avenue announced Monday that it has agreed to let Hudson’s Bay Company – the Toronto-based firm that owns Lord & Taylor and Hudson’s Bay – buy the company for $2.4 billion. This means one of America’s most famous department-store chains is now owned by a Canadian business, and it also means Saks will soon expand into the Great White North.

The chain’s new owners plan to build Saks Fifth Avenue locations and its Off Fifth outlet stores throughout Canada, according to Dealbook. These stores will join Saks’s other international outposts in Mexico, Dubai, Bahrain, and Kazakhstan.

“We are excited about what this opportunity and being part of a much larger enterprise can mean for the future of the Saks Fifth Avenue brand,” said Saks CEO Steven Sadove in a statement.

Technically, Saks still has a 40-day “go-shop” period, during which it can still entertain other offers before officially becoming part of Hudson’s Bay. Earlier bidders for the retailer included Kohlberg Kravis Roberts, a private equity firm that might have merged Saks with Neiman Marcus, and the Qatar Investment Authority, which owns stakes in Tiffany & Co. and LVMH, among other holdings.

…read more

Source: FULL ARTICLE at fashionologie

Young Canadian aboriginals complete protest trek

Nearly 300 young aboriginal people made a 1,000-mile (1,600 kilometer) trek from Hudson Bay to Canada‘s capital of Ottawa this week to protest against living conditions on reservations.

Hundreds more supporters joined them outside Parliament Hill.

Their long walk began when David Kawapit Jr., a 17-year-old from the isolated community of Whapmagoostui in northern Quebec, decided to trudge from the edge of Hudson Bay to Ottawa in support of better conditions for aboriginal people. He completed it Monday.

Canada has seen a number of aboriginal protests in recent months. The Idle No More movement began last year in protest of a federal budget bill that opponents say would alter the approval process for leasing aboriginal lands to outsiders and weaken environmental oversight in favor of natural resource extraction.

…read more
Source: FULL ARTICLE at Fox World News

Locals call on government to help about a dozen killer whales trapped under Quebec sea ice

A community in Quebec’s Far North is calling for outside help to free about a dozen killer whales trapped under a vast stretch of sea ice.

Locals in Inukjuak said the mammals have gathered around a single hole in the ice — slightly bigger than a pickup truck — in a desperate bid to get oxygen.

Mayor Peter Inukpuk urged the Canadian government Wednesday to send an icebreaker as soon as possible to crack open the ice and help them find open water. The Department of Fisheries and Oceans said it is sending officials to assess the situation.

“Fisheries and Oceans Canada is assessing the situation and are exploring every possible option, but will only be in a position to determine what — if anything — can be done once our specialists arrive on site,” spokesman Frank Stanek said in a statement.

A hunter first spotted the pod of about a dozen trapped whales Tuesday at the hole, which is on the eastern shore of the Hudson Bay. Inukjuak is about 1,500 kilometers (900 miles) north of Montreal.

Dozens of villagers made the one-hour snowmobile ride Tuesday to see the unusual spectacle. They snapped photos and shot video footage of the killer whales surfacing in the opening — and even thrusting themselves skyward while gasping for air.

One woman who made the journey to the gap in the ice said even a curious polar bear approached the hole amid the commotion. Siasie Kasudluak said the bear was shot by a local hunter for its meat.

The trapped orcas appeared to be in distress, but locals were ill-equipped to help out.

Kasudluak said the hole appeared to be shrinking in the freezing temperatures. Inukpuk believes the sudden drop in temperature recently caught the orcas off guard, leaving them boxed in under the ice.

Source: FULL ARTICLE at Fox World News

Locals call on government to help killer whales trapped under Quebec sea ice

A community in Quebec’s Far North is calling for outside help to free about a dozen killer whales trapped under a vast stretch of sea ice.

Locals in Inukjuak said the mammals have gathered around a single hole in the ice — slightly bigger than a pickup truck — in a desperate bid to get oxygen.

Mayor Peter Inukpuk urged the Canadian government Wednesday to send an icebreaker as soon as possible to crack open the ice and help them find open water. The Department of Fisheries and Oceans said it is sending officials to assess the situation.

“Fisheries and Oceans Canada is assessing the situation and are exploring every possible option, but will only be in a position to determine what — if anything — can be done once our specialists arrive on site,” spokesman Frank Stanek said in a statement.

A hunter first spotted the pod of about a dozen trapped whales Tuesday at the hole, which is on the eastern shore of the Hudson Bay. Inukjuak is about 1,500 kilometers (900 miles) north of Montreal.

Dozens of villagers made the one-hour snowmobile ride Tuesday to see the unusual spectacle. They snapped photos and shot video footage of the killer whales surfacing in the opening — and even thrusting themselves skyward while gasping for air.

One woman who made the journey to the gap in the ice said even a curious polar bear approached the hole amid the commotion. Siasie Kasudluak said the bear was shot by a local hunter for its meat.

The trapped orcas appeared to be in distress, but locals were ill-equipped to help out.

Kasudluak said the hole appeared to be shrinking in the freezing temperatures. Inukpuk believes the sudden drop in temperature recently caught the orcas off guard, leaving them boxed in under the ice.

Source: FULL ARTICLE at Fox World News

Killer whales trapped in Quebec sea ice

A community in Quebec’s Far North is call for outside help to free about a dozen killer whales trapped under a vast stretch of sea ice.

Locals in Inukjuak say the mammals have gathered around a single hole in the ice — slightly bigger than a pickup truck — in a desperate bid to get oxygen.

Mayor Peter Inukpuk urged the Canadian government Wednesday to send an icebreaker as soon as possible to crack open the ice and help them find open water. The department didn’t immediately respond to messages seeking comment.

A hunter first spotted the pod of about a dozen trapped whales Tuesday at the hole, which is on the eastern shore of the Hudson Bay. Inukjuak is about 1,500 kilometers (900 miles) north of Montreal.

Source: FULL ARTICLE at Fox World News