Canada Post managed to turn a profit in 2012, but the profits are the result of non-cash adjustments to labour costs, and from operations. According to the Crown corporation’s annual report, $98 million in future sick leave and post-retirement health benefits were saved as a result of the new collective agreement reached in late 2012. That allowed for a one-time adjustment without which Canada Post would have posted a loss of $54 million in that year. The loss would have been tempered by profits from Canada Post’s other operations, such as Purolator, but the Canada Post group as a whole would still have posted a loss of $25 million. Continue reading →
The booklet cover features Wreath of Flowers, an appliqué quilt created by Catharine Gage Pettit in Fruitland, Ont., in 1865 as part of her trousseau for her marriage to William Ira Case Jones. Family and friends helped complete the historic quilt, now part of the Royal Ontario Museum collection. (Image courtesy of Canada Post)
