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Bottom: Brandt Louie, CEO of Western chain London Drugs ents O LIA DEPARTMENTSFEATURES GUOMAN M) 4 Feedback 9 The Exchange The big cheese nt TO Paul Tellier made a lot In a world where governments protect OT (B 5 The Rant of tough decisions as their milk farmers more fiercely than KI; It’s 2019, and job Ottawa’s toP bureaucrat just about anyone else, Montreal WS applicants whose names and as a CEO, so he’s dairy billionaire Lino Saputo Jr. is KO SA sound white still get chock-full of good advice determined to keep building a global LY more interviews than for today’s leaders empire. /By Jason Kirby ALEX those with names that OP) seem Black or Asian 12 Trichur 24 They came, they saw, (T co Letting SNC-Lavalin they pillaged TIER; sidestep a trial would After waging attacks on companies AR QU make Canada’s already for almost two decades, what have LE lousy record for fighting shareholder activists accomplished? corruption even worse /By Tim Kiladze UDIO ST BY 13 McGugan 32 Weed control Uber earns no profit now Canada is the (legal) cannabis capital GAZINE and probably won’t soon. of the world these days. But our MA B So why are investors window of weed opportunity may be RO R lining up for an IPO? closing fast. /By John Daly FO Y 44 Last Word 40 Weathering heights USIVEL Third-generation retail Starchitects and contractors are CL EX magnate Brandt Louie, flocking to a firm in Guelph, Ontario, T 75, on his hopes for his to determine if their new supertall SHO family’s fourth and fifth structures can withstand the elements. VER generations /By Susan Nerberg CO APRIL 2019 / REPORT ON BUSINESS 3 April 2019, Volume 35, No.8 Feedback Editorial Editor, Report on Business DEREK DECLOET Assistant Editor DAWN CALLEJA Digging for a solution Senior Editor JOHN DALY In “A long road,” Paul Christopher Webster examined Copy Editor LISA FIELDING, MICHAEL Canadian miners’ long history of wreaking havoc BARCLAY Research CATHERINE DOWLING, in developing nations—and gave us reason for hope ANNA-KAISA WALKER Art if the money created is not needed Art Director DOMENIC MACRI to get the economy up to full Associate Art Director capacity. In most instances, the BRENNAN HIGGINBOTHAM - Why should we stop at seeking spending creates greater capacity Director of Photography CLARE VANDER MEERSCH justice for victims of corporate as well as full employment, so Contributors crimes in developing countries? inflation is not a problem. While STEVE BREARTON, TREVOR COLE, SARAH We could, and should, shine a public banking is an aside, more EFRON, TIM KILADZE, IAN MCGUGAN, brighter light into what has gone states are pushing for public state JOANNA PACHNER, JUDITH PEREIRA, on here. Mount Polley in B.C. banks to provide low-interest ERIC REGULY, RITA TRICHUR, LUIS MORA and Asbestos in Quebec come to loans that retain the money in the Advertising mind, and there are lots more. It state. We are so wedded to the Chief Revenue Officer, VP Advertising ANDREW SAUNDERS goes along with the devastation neoliberal dance of debt it’s hard Managing Director, Creative Studios around abandoned oil wells that to imagine any alternative, but it’s and Ad Innovation owners are either walking away out there. —Curious George TRACY DAY from or selling for a dollar to Senior Manager, Special Products shell companies. —Beans Maroc ANDREA D’ANDRADE We borrow and spend Product Manager RYAN HYSTEAD - The government has promised our way to 5% GDP Production a corporate ombudsman several growth, and guess what? The Managing Director, Print Production times and will no doubt do so SALLY PIRRI again in an election year, but the interest rate on the new pile of Production Co-ordinator thing appears to be stalled by the debt rises to 5% too. Boom! ISABELLE CABRAL efforts of lobbyists to ensure it —Catou1403 Publisher PHILLIP CRAWLEY has no real power, except possibly Editor-in-Chief, The Globe and Mail to embarrass bad actors. Business DAVID WALMSLEY Managing Director, Business as usual: Just apologize and move Green paradox and Financial Products on to the next disaster. —glong234 Chris Turner’s rant lauded GARTH THOMAS our clean hydro grid. But are Report on Business magazine is published - Mining is a dangerous business. we ignoring the downsides? 10 times a year by The Globe and Mail Inc., 351 King Street E., Toronto There should be an international M5A 0N1. Telephone 416-585-5000. standard imposed on all mining - Canada’s hydro grid may be Letters to the Editor: companies regardless of what renewable, but it is anything but [email protected]. The next issue will be on April 26. “home” country their HQ is clean. Those who have to deal Copyright 2019, The Globe and Mail. located in. —ChristopherOldcorn with the destructive legacy of Indexed in the Canadian Periodical Index. hydro power can attest to this. Advertising Offices Head Office, The Globe and Mail, Economics, updated The Peace River generation 351 King Street E., Toronto M5A 0N1 Ian McGugan’s bold system in northeastern B.C., for Telephone 416-585-5111 or toll-free pronouncement: Big government example, was not fully logged 1-866-999-9237 Branch Offices debt isn’t as scary as you think. before flooding, which caused Montreal 514-982-3050 levels of methylmercury so high Vancouver 604-685-0308 - We’re wedded to the idea that to this day the local fishing Calgary 403-245-4987 Email: [email protected] of government borrowing guide recommends limiting United States and countries outside of from private sources and your fish consumption out of North America: AJR Media Group, 212-426-5932, owing them interest. Modern the system. The Site C project [email protected] Monetary Theory explains that a is going to flood very fertile Publications mail registration No. 7418. government can borrow from its land in a province with a limited The publisher accepts no responsibility for unsolicited manuscripts, transparencies or other own country bank at low interest, supply of it. —RickSchlosser material. Printed in Canada by Transcontinental and that interest goes back to Printing Inc. Prepress by DM Digital+1. Report on Business magazine is electronically available the central bank—which the Send us your thoughts at through subscription to Factiva.com from Factiva, government owns, so it is in effect [email protected], at factiva.com/factiva or 416-306-2003. tweet us @robmagca and follow paying itself. Inflation only occurs us on Instagram @rob_magazine tgam.ca/r 4 APRIL 2019 / REPORT ON BUSINESS month is th The Rant What’s in a name? Countless talented job applicants never get an interview because of bias in the hiring process. If your company doesn’t change its recruitment tactics, it’s going to be left behind According to Google, I am the only person in the world with the com- tials: H.J. Roderique. I didn’t want bination of my first and last name—a blessing and a curse in the age of to take a chance that my resumé VILARINO the Internet. And as I build a public profile, I’m grateful for that easy would be screened out because B. T recognition. I’m one in eight billion! But in the past, when it comes to of who I am. I made it past the LBER submitting job applications, I’ve sometimes worried my name holds me resumé screen and ultimately DA back. Because my lovely, rhythmical Arabic first name does two things: It received offers from both firms. ION identifies me as a woman, and it identifies me as not white. It’s widely known that job can- AT TR When I was applying to jobs at two consulting firms a couple of years didates are screened out based US ago, I submitted applications through their websites and used my ini- on their names, yet few companies ILL APRIL 2019 / REPORT ON BUSINESS 5 the thing about the “isms” and When Jamal becomes James the phobias around us. They are In a study by Rotman School of Management’s Sonia Kang, researchers sent social, they are structural, and out 1,600 ficticious resumés from Black and Asian applicants to real employers. they lead to these inferences, to Some resumés were altered to hide racial cues, such as first names and ascribing meaning, to gut feel- experience.