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(February 15, 2007) The RCMP’s commercial crime division in Ottawa, assisted by the Integrated Market Enforcement Teams, has laid a charge against Serge Nadeau earlier today in connection with its income trusts investigation.

Nadeau, the general director of analysis in the tax policy branch of the Department of Finance Canada was charged with breach of trust for his involvement in the illegal transfer of information before the former federal Liberal government’s announcement of changes to income trusts taxation.

The RCMP alleges that Nadeau used confidential Government of Canada information to profit on the purchase of securities. They also said that the charge against Nadeau concludes an exhaustive investigation into the income trusts matter that began in December 2005.

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Strong career prospects for young people: execs

(February 15, 2007) The majority of executives believe there are better career opportunities available to today’s young professionals than were available when they began their own careers, according to Korn/Ferry International’s survey of executives from more than 70 countries.

According to Korn/Ferry, a global provider of talent management solutions, 64% of executives are optimistic about the career prospects of younger generations.

“Today’s young professionals are met with improved career opportunities; however, they also face increasingly rigorous job requirements,” said Charles W. B. Wardell III, managing director and head of the Northeast U.S. region of Korn/Ferry. “In addition, many must contend with additional pressure from their baby boomer parents, who often try to dictate their children’s education and career paths.”

In fact, 83% reported they had guided or will try to guide their children’s career paths to at least some extent, with one-third of those admitting to guiding them to a great or very great extent.

Executives are also encouraging further education, with 89% stating they want to see their children obtain at least a master’s, doctoral or professional degree. However, only 66% said they intend to pay for this advanced education.

When asked if they would recommend their profession to their children, 75% of executives indicated they either “definitely” or “probably” would.

Although they think it might be easier for young people to get ahead, Korn/Ferry points out that the executives are not very impressed with the work ethic of today’s young professionals. Only 19% think that the work ethic of youth has improved. Forty-nine per cent think it has declined.

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Maclean’s Wealth Report finds the young are old at heart

(February 15, 2007) A new Maclean’s poll that is part of the magazine’s Wealth Report finds retirees are optimistic about financial security; young people, on the other hand, are worried about debt and achieving their dreams.

According to a Maclean’s poll that gauges how confident Canadians feel about their financial future, younger Canadians — particularly those between the ages of 35 and 44 — are dogged by debt and a lack of cash, while their moms and dads are just fine.

“Women were twice as likely — at 28.7% — to be pessimistic about post-retirement,” Maclean’s associate editor Nicholas Kvhler said. “And women were also more negative about how much money they would have once they retire: 25.9% felt strongly they would face a post-retirement cash crunch, compared to just 18.1% of men — something chalked up to continued wage discrepancies between the sexes.”

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(02/15/07)