Anglais
Costco fined $7.2M for accepting illegal kickbacks

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The Ontario government has fined Costco more than $7 million after an investigation into allegations the bulk food giant asked for illegal kickbacks from a generic drug manufacturer.
The Fifth Estate first reported in March of last year, that the province’s Forensic Investigations Team had launched the investigation.
The Ontario’s Ministry of Health issued a statement Friday announcing the fine.
« Following an inspection, the Ministry determined that [Costco pharmacies] had received $7,250,748.00 for advertising services which the Ministry concluded violated the prohibition on rebates, » the statement said.
« The Ministry takes non-compliance with the prohibition on rebates seriously and will continue to assess compliance with the prohibition by manufacturers, wholesalers and pharmacies. »
It’s illegal in Ontario for a pharmacy to accept rebates, or kickbacks, from a generic drug manufacturer in exchange for promising to stock its brand of drugs. Studies show rebates drive up the price of generic drugs for consumers.
Secretly recorded audio tapes obtained by The Fifth Estate showed a senior pharmacy executive from Costco asking for kickbacks.
« As a minimum, I’d like to see somewhere around 3.6 million of support. That’s a minimum, » the executive can be heard saying.
A salesperson from generic drug manufacturer Ranbaxy Pharmaceuticals first brought forward the allegations against Costco in 2015.
« I feel vindicated, I’m happy but it’s not enough, » said Tony Gagliese.

Tony Gagliese was a salesman with Ranbaxy Pharmaceuticals. He blew the whistle on Costco by filing a complaint with the Ontario College of Pharmacists. (CBC)
According to the ministry, the fine levied is equal to the amount Costco received in kickbacks. Gagliese says the province should have come down harder on Costco.
« If you want to send deterrent, you have to send a strong message. This isn’t a strong message. They are just paying back the money they took. »
In 2018, two pharmacy directors with Costco pleaded guilty to professional misconduct in front of the Ontario College of Pharmacists.
The college accused Joseph Hanna and Lawrence Varga of asking for the illegal payments. They later conceded that the requests could « reasonably be regarded… as unprofessional, » according to the decision from the college’s disciplinary committee.
Each pharmacist was fined $20,000 and ordered to pay $30,000 in costs.
In a statement on Friday, Costco says it co-operated with the investigation and has agreed to pay the fine.
The company says it « honestly believed at the time that the advertising programs referred to were not contrary to Ontario law, » and that it’s « pleased that the rebate order issued by the Ministry provides further guidance on the issue of rebates. »
The company pointed out that the decision of the college said at the time Costco was « operating in an area of legal uncertainty. »
Costco added, it « would never knowingly or intentionally act in a manner which was inconsistent with the laws of Ontario. »
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Anglais
‘Business as usual’ for Dorel Industries after terminating go-private deal

MONTREAL — Dorel Industries Inc. says it will continue to pursue its business strategy going forward after terminating an agreement to go private after discussions with shareholders.
« Moving ahead. Business as usual, » a spokesman for the company said in an email on Monday.
A group led by Cerberus Capital Management had previously agreed to buy outstanding shares of Dorel for $16 apiece, except for shares owned by the family that controls the company’s multiple-voting shares.
But Dorel chief executive Martin Schwartz said the Montreal-based maker of car seats, strollers, bicycles and home furniture pulled the plug on a deal on the eve of Tuesday’s special meeting after reviewing votes from shareholders.
“Independent shareholders have clearly expressed their confidence in Dorel’s future and the greater potential for Dorel as a public entity, » he said in a news release.
Dorel’s board of directors, with Martin Schwartz, Alan Schwartz, Jeffrey Schwartz and Jeff Segel recused, unanimously approved the deal’s termination upon the recommendation of a special committee.
The transaction required approval by two-thirds of the votes cast, and more than 50 per cent of the votes cast by non-family shareholders.
Schwartz said enhancing shareholder value remains a top priority while it stays focused on growing its brands, which include Schwinn and Mongoose bikes, Safety 1st-brand car seats and DHP Furniture.
Dorel said the move to end the go-private deal was mutual, despite the funds’ increased purchase price offer earlier this year.
It said there is no break fee applicable in this case.
Montreal-based investment firm Letko, Brosseau & Associates Inc. and San Diego’s Brandes Investment Partners LP, which together control more than 19 per cent of Dorel’s outstanding class B subordinate shares voiced their opposition to the amended offer, which was increased from the initial Nov. 2 offer of $14.50 per share.
« We believe that several minority shareholders shared our opinion, » said Letko vice-president Stephane Lebrun, during a phone interview.
« We are confident of the long-term potential of the company and we have confidence in the managers in place.”

Anglais
Pandemic funds helping Montreal businesses build for a better tomorrow

Many entrepreneurs have had to tap into government loans during the pandemic, at first just to survive, but now some are using the money to better prepare their businesses for the post-COVID future.
One of those businesses is Del Friscos, a popular family restaurant in Dollard-des-Ormeaux that, like many Montreal-area restaurants, has had to adapt from a sit-down establishment to one that takes orders online for takeout or delivery.
“It was hard going from totally in-house seating,” said Del Friscos co-owner Terry Konstas. “We didn’t have an in-house delivery system, which we quickly added. There were so many of our employees that were laid off that wanted to work so we adapted to a delivery system and added platforms like Uber and DoorDash.”
Helping them through the transition were emergency grants and low-interest loans from the federal and provincial governments, some of which are directly administered by PME MTL, a non-profit business-development organization established to assist the island’s small and medium-sized businesses.
Konstas said he had never even heard of PME MTL until a customer told him about them and when he got in touch, he discovered there were many government programs available to help his business get through the downturn and build for the future. “They’ve been very helpful right from day one,” said Konstas.
“We used some of the funds to catch up on our suppliers and our rents, the part that wasn’t covered from the federal side, and we used some of it for our new virtual concepts,” he said, referring to a virtual kitchen model which the restaurant has since adopted.
The virtual kitchen lets them create completely different menu items from the casual American Italian dishes that Del Friscos is known for and market them under different restaurant brand names. Under the Prasinó Soup & Salad banner, they sell healthy Greek options and their Stallone’s Sub Shop brand offers hearty sandwiches, yet the food from both is created in the same Del Friscos kitchen.

Anglais
Downtown Montreal office, retail vacancies continue to rise

Some of downtown Montreal’s key economic indicators are heading in the wrong direction.
Office and retail vacancies in the city’s central core continued to climb in the fourth quarter of 2020, according to a quarterly report released Thursday by the Urban Development Institute of Quebec and the Montréal Centre-Ville merchants association. The report, whose first edition was published in October, aims to paint a socio-economic picture of the downtown area.
The survey also found office space available for sublet had increased during the fourth quarter, which may foreshadow even more vacancies when leases expire. On the residential front, condo sales fell as new listings soared — a sign that the downtown area may be losing some of its appeal to homeowners.
“It’s impossible not to be preoccupied by the rapid increase in office vacancies,” Jean-Marc Fournier, the former Quebec politician who now heads the UDI, said Thursday in an interview.
Still, with COVID-19 vaccinations set to accelerate in the coming months, “the economic picture is bound to improve,” he said. “People will start returning downtown. It’s much too early to say the office market is going to disappear.”
Public health measures implemented since the start of the pandemic almost a year ago — such as caps on office capacity — have deprived downtown Montreal of more than 500,000 workers and students. A mere 4,163 university and CEGEP students attended in-person classes in the second quarter, the most recent period for which figures are available. Border closures and travel restrictions have also brought tourism to a standstill, hurting hotels and thousands of local businesses.
Seventy per cent of downtown workers carried out their professional activities at home more than three days a week during the fourth quarter, the report said, citing an online survey of 1,000 Montreal-area residents conducted last month.

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