Union Brothers & Sisters

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This news release contains forward-looking statements. For a description of related risk factors and assumptions, please see the section entitled “Caution Regarding Forward-Looking Statements” and the other relevant sections of this news release.

• Sequential quarterly improvement at all Bell operating segments as COVID recovery continues; BCE revenue down 2.6% and adjusted EBITDA down 4.4% year over year
• Strong financial position maintained with $5.2 billion of available liquidity at end of Q3
• Cash flows from operating activities of $2,110 million and free cash flow of $1,034 million contributed to 4.4% growth in YTD cash flows from operating activities and 13.7% higher free cash flow
• 128,168 total wireless postpaid and prepaid net customer additions
• Leading wireline broadband subscriber results with 81,696 net retail Internet and IPTV customer additions; 10% Internet revenue growth
• Building the best networks: fibre program 56% complete; rural Wireless Home Internet buildout approaching half of planned footprint; Canada’s fastest national 5G network continues to expand to new centres
• Net earnings of $740 million with net earnings attributable to common shareholders of $692 million, or $0.77 per common share; adjusted net earnings of $712 million generated adjusted EPS of $0.79
• Common share dividend of $0.8325 declared for Q4, up 5% over last year

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OTTAWA – A leading member of Canada’s independent internet industry says it’s time to reform a regulatory system that is delaying the introduction of more competitive pricing.

The comments were directed at the CRTC and federal government at an annual event organized by the Competitive Network Operators of Canada.

CNOC’s members are currently locked in a protracted battle over the wholesale prices that are charged by Canada’s regional phone and cable companies.

Bell, Rogers, and other incumbent carriers are using multiple appeals to protest a CRTC decision that would slash many of the wholesale rates charged to independent ISPs.

But CNOC chairman Matt Stein said such delays lock in higher rates that prevent independent ISPs from lowering their retail prices for consumers and small business.

Stein suggested that an extreme solution would be to prevent the wholesale sellers from having retail divisions that compete with the independent ISPs.

But he said Canadian consumers could also get better prices and more choice if the CRTC was able to set and enforce fair wholesale prices without years of delays

“The incumbents have every incentive to drag out regulatory proceedings and make things take as long as possible,” he said. “They have the resources and, yes, the rules even allow it.”

Later in the ISP Summit, Industry Minister Navdeep Bains said that the cabinet is worried that the CRTC rates announced last year could have a negative effect on some investments.

But Bains stressed that cabinet decided to allow the CRTC to complete its rate-setting process, which includes review of its own pricing decisions that’s currently underway..

— By David Paddon in Toronto.

This report by The Canadian Press was first published Nov. 4, 2020

November 5, 2020

TORONTO—Unifor’s Master Bargaining Committee has reached a tentative agreement with General Motors that includes a $1.3 billion investment that brings truck assembly back to the Oshawa plant, plus new investments to the St. Catharines Powertrain Plant and Woodstock Parts Distribution Centre.

“We have never given up on Oshawa and I am so pleased to announce that up to 1,700 members will be building both Silverados and Sierras on a two-shift operation in Oshawa and we were able to negotiate investments that will stabilize operations in both St. Catharines and Woodstock,” said Jerry Dias, Unifor National President.

“Oshawa is incredibly personal to me. We launched one major campaign in an attempt to get General Motors to reverse its decision back in 2018, and they pressed pause and we preserved the footprint and now we will be the only GM plant globally building both heavy and light duty trucks.”

GM has committed to a new body shop, continuing the after market parts production and will begin hiring in August.

“We knew that our members in St. Catherine’s were nervous, dreading the end of two products and now thanks to higher volumes and $109 million in new investments, jobs are stable for the life of this agreement and beyond,” said Dias.

In total, the Ford, FCA and GM agreements bring more than $4.7 billion dollars in investment to the auto sector in Canada.

Dias has a message for members in Oshawa.

“I know many of our members who were let-go, while some moved on, many have not found other jobs, so I’m asking you to take a breath while we collectively find ways to get you all back to work. Today is a recommitment to the community of Oshawa.”

This three-year agreement follows an historic pattern-setting deal reached with Ford Motor Company last month that includes five per cent increases to hourly rates, bonuses, improved benefits, among other major improvements.

“This bargaining team worked very hard and I am grateful for the support and solidarity from members as we bargained during ever changing and difficult conditions during a pandemic. I urge members to support this settlement,” said Tim McKinnon, Unifor’s GM Master Bargaining Committee Chair.

More details of the tentative agreement will be presented to Unifor members during a series of virtual ratification meetings over the weekend, and members will vote on whether to accept the agreement over a 24-hour period, starting at 11 am on Sunday.

A digital media kit including background on Canada’s auto industry and details on plant locations, products produced and number of workers represented by Unifor can be found on this website

Unifor is Canada’s largest union in the private sector, representing 315,000 workers in every major area of the economy. The union advocates for all working people and their rights, fights for equality and social justice in Canada and abroad, and strives to create progressive change for a better future.