The Canadian Tory government has announced that it's discontinuing the minting of new pennies, as the coins are expensive and considered a "nuisance" by businesses and their customers. As Steven Chase writes in the Globe and Mail:
“It costs taxpayers a penny-and-a-half every time we make one,” Finance Minister Jim Flaherty told the Commons, adding the move will save taxpayers $11-million annually.
...The increasing scarcity of pennies means Canadians will have to get used to cash transactions being rounded off if they’ve got no pennies on hand.
Ottawa is suggesting businesses round off cash transactions to the nearest five-cent increment but says it’s leaving this to businesses to work out for themselves.
When I was (briefly) at the University of Waterloo, the Engineering faculty's cafeteria had an option to dispense with change altogether: when your bill was added up, you could opt to gamble on rounding, with the direction -- up or down -- dependent on your change. In other words, if you had $3.83 owing to you, you'd have an 83% chance of getting $4 back, and a 17% chance of getting $3 back.
The federal budget’s one-cent solution (via Consumerist)
(Image: CANADA, GEORGE V 1920 ---FIRST ISSUE, SMALL ONE CENT a, a Creative Commons Attribution Share-Alike (2.0) image from woodysworld1778's photostream)
It’s been just over a year since Jeremy Corbyn won the UK Labour Party leadership race with the biggest margin in history — an avowed socialist who would reverse the party’s years of special gifts to the UK’s legendarily corrupt finance sector, fight mass surveillance, pull out of secretive trade deals — a frugal man […]
This wonderful little video by Randy Olson lays out one argument for why as a public political speaker, Donald Trump is perceived to be such a crowd-pleaser, and Hillary Clinton gets weaker scores. It’s all about narrative design.
Part of an ongoing series by weird chart-maker Scott Bateman; link to today’s edition.
If you own a dog, you’ve most likely heard of BarkBox – the monthly subscription box for dogs. What started as a simple idea to try out the subscription model on pet owners has since developed a cult following of dog lovers. If you haven’t given it a try yet, this one month free deal is the […]
With the iPhone headphone jack having gone by the wayside, we’re excited about the addition of the FRANKLIN Bluetooth Headphones in our store. These headphones are foldable so they’re easy to carry around, but most importantly, they pack impressive sound. Our biggest struggle with Bluetooth headphones is the worry of them dying at the worst moment. This pair lasts an impressive 8-10 […]
Evan Kimbrell, founder of the digital agency Sprintkick, recently released a series of online courses that feature some of the best advice we’ve come across. These courses are well worth your time, and will save you from making many typical mistakes down the line if you ever want to start your own business.With this Business […]