Saving the day or themselves?
Mark Pavilons

Mark Pavilons

Let's all cheer for the latest advancements in corporate citizenship!

But the skeptical among us (count me in that special group) could ask whether the power brokers are really saving the day, helping citizens, or contributing to the downward spiral of our very delicate social fabric. While I'm no expert, I'd vote for the latter.

Canadians, currently, are saddled with unbelievable, almost crushing debt. Individuals in this country collectively owe an estimated $750 billion. I'm not an economist, but I'd guess a lot of this money is owed to banks and financial institutions. Sure, they've long been regarded as upstanding cornerstones to our society (pause for earnest reflection here), but one can assume they're partly responsible for this burgeoning debt load.

Most of us have credit cards and many have more than two. Here's a note I received from one of my friendly and altruistic banks recently:

"Even though you may already carry one or more other credit cards, you should not hesitate to accept this card. Your new **** card will bring you the financial flexibility of easily accessible credit ... And since there is no annual fee on this card, responding is absolutely free."

Talk about generous! I think this bank should get an award for the most blatantly shameless solicitation.

Financial experts, many of whom are employed by banks, know full well the picture of Canadians' personal debt loads. To suggest adding another credit card to one's collection is not only irresponsible but downright greedy, reflecting a total disregard for personal finances. It's an affront to common decency.

They will argue obtaining credit cards is a personal choice, but when they make it enticing, without even doing credit checks on customers, that's entrapment, plain and simple.

How about our friendly, neighbourhood mortgage lenders?

Wonderful souls, all.

I'm sure those in the know keep track of economic indicators and the Bank of Canada interest rate. It is set like clockwork several times each year. Most financial pros can speculate on the bank rate's movement, well ahead of the scheduled release dates.

Shouldn't they be advising customers (mortgage holders) of impending changes to mortgage rates? Those who've chosen a variable mortgage would find this information very valuable and sometimes life-saving. I have yet to hear a mortgage specialist call and say "Mr. Pavilons, the Bank of Canada is likely to increase the rate by a quarter point next week, so in your best interest, I think we should lock in your mortgage now."

Instead, they call asking if I'd like to amalgamate my debts or take on a second mortgage. I can hardly contain my appreciation!

Too much power in the hands of a few.

But corporate self-indulgence isn't limited to the banking industry.

Grocery stores are ushering in an era of reusable shopping bags, and trying to take credit for helping to clean up the planet.

One well known chain is hoping to curb the plastic bags that end up in dumps by 1 billion, offering reusable bags. By being so environmentally conscious, they urge consumers to switch to them.

Wow, talk about ego.

Let's not forget who got us into this mess in the first place. I recall the days when we used paper bags, and it wasn't the consumers who rallied to make the switch to plastic - it was the chains themselves because (and let's pause for a moment of utter shock) they could save a few pennies with plastic. And so, the environmental plague began, albeit with our consent by default.

Many have offered bags, boxes, cartons, etc. over the years. But the initial cost was a detriment and consumers hoping to save a few bucks each week on their grocery tabs don't want to spend more. Also, convenience gets the better of us, and we continually give in.

The end of plastic is near. Many municipalities have banned plastic bags outright and others have levied a tax on them, to force shoppers into the proper course of action. Many outlets offer canvas bags and polypropylene fibre bags. But a lot of these efforts come from the grass roots, or are initiated by small businesses, not the large, wealthy chains.

If such giants want to be seen as truly compassionate, they would offer their green bags for free or voluntarily pull the plastic bags.

But they at least deserve a crooked thumbs-up for trying, don't they?

The final issue producing some frantic head-scratching is the TTC's latest success.

Executives underestimated the success of changes made to passes, which have generated greater TTC use, but less revenue for the provider. One would have thought with the amount of brain power in Toronto, someone, somewhere would have mentioned that the current results were predictable.

The solution? They don't thank and appreciate rider enthusiasm, they penalize it, with talk of future fare hikes. Yes, that's the way to treat your citizenry. Encourage the use of public transit; make it more affordable, and then whack them in the knees with a lamppost. Makes you feel all warm and fuzzy inside, eh?

There's word of cutting routes, subways and buses because the city is pretty much broke.

An aware and educated consumer is a wonderful thing. Too bad we're seen as threats to the corporate elite, who've cornered the market on spin-doctoring.