Mar 21, 2025
Tucson
Arizona:
“Is Tim Horton’s still a Canadian Company?”
(Can’t read the full email – click here for the online version.)
“May you live in interesting times”.
This phrase – often cited as some ancient Chinese curse (it is neither ancient nor Chinese, being in fact a recent western saying) is certainly true for our current times.
Here are a few headlines that piqued my interest this week.
“Vancouver International Auto Show removes Tesla over safety concerns.”
“Hudson’s Bay’s demise marks the death of the traditional department store in Canada”
“Is Tim Horton’s Canadian?”
“New US requirement for Canadian visitors will hurt US
businesses”
Interesting times indeed.
Tesla’s removal from the auto show is over the recent vandalism against the iconic car, due to its founder, Elon Musk’s role with DOGE and that new organization’s attempt at curbing over spending by US government agencies. Interesting because up until recently, the car was the poster child for all things
environmentally green and clean.
Hudson’s Bay Company is the oldest company in Canada, founded via a charter granted by England in 1670. This charter gave the company the monopoly of “sole trade and commerce" of all the lands that flowed into Hudson’s Bay. Given the name Rupert’s Land, the area comprised a land mass greater than Europe!
As Canada’s oldest company – it is significant that it is in financial trouble and may soon cease to exist.
Speaking of Canada – nothing is more Canadian than Tim Hortons, Canada’s most prolific and popular coffee and donut shop. Canadians speak reverently about getting their “Tim's” and requesting a “double-double”.
But is this company really Canadian
and why is that even relevant?
Well – with Trump talking about making Canada the 51st state and adding large tariffs on imports from the US’ number 1 trading partner – many Canadians have made a pact to avoid buying anything from the US.
And Tim Hortons was certainly a company that stood for all things Canadian. But is it?
The debate centers around the fact that US burger chain Wendy’s purchased the coffee and donut chain back in 1995 – but that ended in 2006. Then Restaurant Brands International purchased the company in 2014. The principal shareholder of RBS is a Brazilian firm, 3G Capital.
But today, Canada’s major banks and the Canadian government’s CPP Investment Board own a comparable percentage
as the Brazilian company. So, while the company may not be majority owners by Canadians, it certainly is not a US owned one.
That brings us to the last headline regarding a new requirement for Canadian visitors to the US.
This story is from an Arizona news organization regarding a new federal policy that will require some Canadian visitors to register
if they plan on staying in the US for more than 30 days. The article states that this requirement will begin April 11.
Arizona has many Canadians who spend the winters here, own homes and spend billions. Stats for the year 2023 show that Tourism for the state generated over $4 Billion in tax revenue.
Short-term visitation to the US from Canada has already dropped from
last year’s levels due to the current political scene – this new regulation will only add to it. Mike Huckins of the Greater Phoenix Chamber was quoted a saying; “I think the thing that would worry local businesses is it’s a very short flight to just fly over us and into Mexico.”
On this first day of spring (official), and the warmest Tucson has seen since last year, we personally, are not too affected. We have
perfect weather for hiking and playing tennis. We received a significant discount on our Airbnb. One can still get a filling meal at In and Out Burger (for 2 seniors) at under $13!
So, yes, for us – things are good.
But if you own a business that is overly reliant on foreign tourism – you might want to rethink and reengineer your business. Widen
your appeal to your local region.
If a recession hits – it will be doubly difficult. Especially if your business relies on volume, low prices or the discount shopper.
I encourage you to work on your Unique Selling Proposition or why your customer should buy from you and no one else. And build your company such that these outside events do not topple
your business over.
Until next week,
Stay healthy and focus on profit!
- Hugh
The “Profit Accelerator” Expert
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