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Jon Shell Profile picture
@jonrshell
Apr 28, 2020 • 5 tweets • 3 min read • Read on X
IMPORTANT SURVEY ALERT. There is big trouble for Canada's rent relief program. In our survey, only 19% say their landlord is likely to sign up for it. The provinces need to declare a moratorium on commercial evictions to save #CECRA. #SaveSmallBusiness Image
This landlord response is a tragedy, since small businesses are saying the rent subsidy is BY FAR the most important program that has been rolled out to date. 67% said #CECRA was most important, vs. 24% for the #CEBA loan and only 9% for the #CEWS wage subsidy. Image
A #CECRA rent subsidy that work would literally save our local communities. 54% of small business owners say it would save them from permanent closure. 43% say it would make a big difference. Only 3% (!) say they sure to survive either way. Image
#CECRA needs to be saved. To do that, Provinces need to step up and protect their local community businesses. Landlords must be forced to the table, and that requires a commercial evictions moratorium. I explain why in this article. medium.com/@jonshell/why-…
May 1st is rapidly approaching. Many surveys confirm over 50% of small businesses will not be able to pay, and will be in technical default of their loan. Any province that does not declare a moratorium on evictions is abandoning their local community businesses. Simple as that.

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More from @jonrshell

Jon Shell Profile picture
Mar 30, 2022
Powerful support for more employee ownership in Canada from a very credible source: @BMO is a top lender to majority employee-owned companies in the US.
Opinion: Canada needs policies that make it easier for business owners to sell to their employees financialpost.com/news/economy/o…
As BMO's Christine Cooper writes here, public policy in the US is highly supportive of employee ownership trusts, where all employees receive shares in their company at no cost. The results are proven and well documented.
As she writes: "Recent data ... show that employee-owners have a whopping 92 per cent more net wealth than their non-employee-owner counterparts. This trend is especially true for young people, single women, visible minorities and parents raising young children."
Read 6 tweets
Jon Shell Profile picture
Mar 7, 2022
Everyone should do their part to #StandWithUkraine️. That's why so many current and former @McKinsey and @BCG employees are speaking out as other consultancies leave Russia. In contrast, McK and BCG are *pretending* to leave, without actually leaving. A short thread of shame.
On March 3, both McK and BCG CEOs sent out letters to their former employees about severing ties with Russia. However, both letters said they would complete existing engagements with non-state-owned firms. This is a really important distinction and different from @Accenture et al
Consulting engagements will last from 6 weeks to a year. So, a lot of their current work might last through the end of the war. Presumably, they could start taking on new work at that time, meaning their #standwithukraine commitment might only amount to a few delays.
Read 7 tweets
Jon Shell Profile picture
Dec 21, 2021
It's not a fun or happy topic, but Provincial political leaders and small business advocacy organizations should be talking about an easier path to bankruptcy as a way to support small business in Canada. #onpoli #cdnpoli 1/ thestar.com/opinion/contri…
Many political leaders, and organizations like @CFIB, @CdnChamberofCom and @RetailCouncil have done great (and tireless) work over the past 20 months keeping businesses afloat amidst rotating shutdowns to protect public health. But for many no amount will help them survive. 2/
Encouraged by governments, many family-owned small and micro-businesses have taken on massive debts and owe huge back rent trying to keep the doors open. Those debts will come due amidst a much worse operating environment. In some cases paying it back will take decades. 3/
Read 9 tweets
Jon Shell Profile picture
May 14, 2021
If @LongosMarkets was an American grocery chain, there's a good chance it would now be owned by its employees. In Canada, it sold to @sobeys.

My op-ed about why the Cdn gov't embracing employee ownership is a big deal.
#cdnpoli (1/12)
@WinnipegNews winnipegfreepress.com/opinion/analys…
@LongosMarkets is a great family-owned grocer, and their customers love it. So why did the Longo family sell out to one of the big three conglomerates?
Empire (Sobeys), Loblaw and Metro own 75% of the Canadian grocery market.
(2/12)
restobiz.ca/longos-ranks-a…
Maybe they got an offer they couldn't refuse!
Or, maybe they had no credible alternative.
That's not the case in the US, where US-ESOPs enabled family-owned @Publix, @WinCoFoods, @BrookshireBros and @HarpsFoodStores (and others) to stay independent by selling to their employees.
Read 12 tweets
Jon Shell Profile picture
Sep 28, 2020
#SaveMEC is about more than saving a co-op. It’s about preventing another Canadian icon from suffering the same fate as Tim Horton’s: a slow grinding decline under ownership that doesn’t care. So, let’s look at the unimpressive and troubling potential new management of MEC.
Short version: @MEC to be run by three middle-aged white men: a mediocre-at-best American investor, an out-of-work grocery CEO and a COO who might never have managed a store and runs a guns-and-testosterone shoe brand. This should go well!
Long version: First, the buyer, Kingswood, a PE fund out of LA. Its website claims it was founded in 2013, but it only sort of was. Until 2019 Kingswood seems to have been just one guy: Alex Wolf. His first real fund was raised last year, and MEC will be that fund's first deal.
Read 28 tweets
Jon Shell Profile picture
Jul 17, 2020
1/ Today we begin phase 3 in Ontario, or, as I like to call it "killing ourselves to pay the rent."
2/ As has been well documented, we know from other places that opening up bars lead to more cases and more deaths. So, people will die. Why are we killing them? To keep these businesses from going under. And what would drive them under? Rent. This is all about rent.
3/ When a bar (or movie theatre or gym) is closed, they lay off their staff and stop buying things. The things they already bought aren't perishable, so there's no cost to holding them. Most of what's left is rent. Bars could stay closed almost indefinitely with no rent.
Read 6 tweets

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