Alexander Moen: Snoozing U.S. elephant is now a grasping octopus
31.12.69

Pierre Trudeau once compared Canada’s relationship with the U.S. to sleeping with an elephant. No matter how friendly the elephant; one is affected by every twitch and grunt. But a more apt description today of the American government is that of an octopus, whose many arms are ready to suck the life out of Canadian interests at any time, with little regard for the overall relationship between our two nations.
Let’s look at how some of these arms are currently encircling — and blocking — our long-standing trade relationship with our neighbour to the south.
The octopus’s first arm is found in the U.S. Department of Commerce, which is once again proposing extra levies on Canadian softwood lumber. With our trees dying as a result of pine-beetle infestation, cut rates have increased, but apparently the Department of Commerce feels we are harvesting too many trees too quickly.
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Source: The Province (blog)
Fortune Brands says 3Q net falls
31.12.69
Fortune Brands Home & Security Inc. said on Wednesday that its third-quarter net income fell as it continued to deal with the slowdown in housing.
The maker of Moen faucets, Master locks and other brands earned $20.1 million, or 13 cents per share, for the quarter that ended Sept. 30. That was down 26.6 percent from $27.4 million, or 18 cents per share, during the same period last year.
Revenue rose 4.3 percent to $848 million, from $813.1 million a year ago.
Fortune Brands said last year's quarter included a gain from resolving a lawsuit. Without one-time items in both quarters, it said its net income would have fallen by 3 cents per share from a year ago.
Lower window sales hurt its Advanced Materials Window & Door Systems segment, along with a mix of less-profitable products. Revenue for that segment fell 1 percent.
The company also dealt with higher raw material and transportation costs and sales that drove down prices for cabinets. Still, it said all its segments were profitable on an adjusted basis.
Source: BusinessWeek