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 Rising Loonie Cuts with a double-edged swordBy Brad Mackenzie Where is the Canadian loonie going? The Canadian loonie hit a 30-plus year high this fall. Was this good for Canada or not? We all know that when the loonie increases in value relative to the U.S. dollar, our purchasing power increases—at least when Canada has to import materials or products, but when we want to export our manufactured goods or our raw products, we receive less. Canada exports more to the United States than we import. The rising Canadian dollar affects our Local Union in many ways. In the last few months, we saw a reduction in employment opportunities with some companies that we represent. If the loonie rises again, it will lower sales for many Canadian manufacturing companies and reduce working opportunities for Canadian workers, including our own members. It was good to hear that the dispute between the coastal forest companies and the Steelworkers Union was resolved. Our log barge operators were happy to get back to work. Some of those members were off work from the beginning of the dispute in early August. All but one log barge collective agreement has been ratified. Hopefully, the last company will accept the same improvements to the collective agreement that the other companies have. In the last issue of the OE News, we reported on the application for certification of West Coast Air, located in Vancouver, Victoria, Nanaimo and Sechelt. Now that we are certified to represent the pilots, we have begun negotiations with the company. We hope to have a collective agreement in early 2008. I have met most of the pilots and I welcome them all to the International Union of Operation Engineers. Reflecting on 2007, many members had plenty of working opportunities, and hours in the construction industry were way up. It looks like 2008 will be another good year. The construction boom throughout B.C. should continue for some time. The joyous time of the festive season is upon us again. I would like to wish the very best to you, the members, and all your families. |
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