October 2013Issue 002 Vol. 11

bullandbearmcgill.com

Freedom and Secularization in Modern Quebec

Why We Trade

Pumpkin Spice and Everything Nice

Ashamed To Be An American

BTHE BULL & BEAR

A publication of the

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In 2011, The Bull & Bear introduced the Markets section as a means of providing technically oriented financial commentary and analysis from a student perspective. Though the section had seen

several adjustments and restructurings over the past several years, it had still maintained its focus on financial market news. This year, however, we have broadened the goals of the section in line with the publication to deliver unique, meaningful content to a campus-wide readership.

I am extremely proud to announce that the Markets section of The Bull & Bear has, with this issue, been relaunched as the Business section. The Bull & Bear places a great deal of emphasis on producing content that is not only relevant, but that engages readers in a dialogue, promoting critical thought, reflection, and discussion. With this goal in mind, the new Business section seeks to produce articles and features that hold greater significance to readers from all faculties, offering unique insights, perspectives, and analyses on a variety of topics that range from Management to Engineering to Arts. McGill is an outward-looking and highly active community, and it is important that the Business section reflects the goal of The Bull & Bear to embrace, captivate, and enrich that community.

This issue, The Bull & Bear focuses on innovation. On the heels of McGill students winning the International Hult Prize for Social Entrepreneurship, we look at what start-up culture means to learning at McGill. Moreover, we cover McGill’s undergraduate research, the state of our learning infrastructure, and much more.

I look forward to continuing to develop The Bull & Bear as a fundamental platform for engaging the student community as well as being one of the most valuable learning tools here at McGill. Please do not hesitate to get in touch with us via our Contact page; we more than welcome any thoughts or feedback you may have. All the while, you can follow our coverage on our website, or via Facebook and Twitter.

Best wishes for midterm season.Sincere regards,

Jonathan Craske, Lead Business Editorjonathan@bullandbearmcgill.com

4 Freedom and Secularization in Modern Quebec6 Bridging the Road Not Taken7 Security in Residence: How Safe Are We?

NEWS

9 Why We Trade10 Drilling Down on the West Canadian Select Oil Sands12 Europe’s Sputtering Motor?

BUSINESS

14 Undergraduate Innovation: A Campus Wide Opportunity16 Going Your Own Way18 The New Social Economy20 Bringing Chalk to a SmartBoard Fight

FEATURE

22 Hair-oween24 Pumpkin Spice and Everything Nice26 Different Spokes for Different Folks

LIFESTYLE

The Bull & Bear is published by the Man-agement Undergraduate Society. The content of this publication is the respon-sibility of the Management Undergradu-ate Society and does not necessarily rep-resent the views of McGill University.

27 The Curious Case of the Inequitable Curve28 A Moral Compass Made of Money30 Ashamed To Be An American

OPINION

Editor’s NoteJonathan CraskeLEAD BUSINESS EDITOR

Signature for JAC

The Bull & Bear - October 2013 3

BRIEFS

Briefs Your guide to events around campus

Garden of LightsSeptember 7 - November 3Botanical Gardens

The Gardens are transformed by unique and subtle lighting, perfect for a nice fall date

MProv 2013October 1 - 12Montreal Improv Center3697 St. Laurent

Laugh out loud, shed some tears, and check out Montreal’s Improv Festival.

Montreal L’OFF Jazz FestivalOctober 3 - 12

Amazing live programming showcas-ing local and international jazz musi-cians is not to miss!

Halloween Fright FestOctober 5 - 27La Ronde

Be prepared to be scared and thrilled as the local amusement park trans-forms into a Haunted House.

Festival du Nouveau CinemaOctober 9 - 20

The lineup has been announced, so make sure to go to http://nouveaucinema.ca/ for more info!

Academic Career WeekOctober 28 - November 1McGill Campus

Information sessions held around campus to help YOU apply for that perfect job.

Halloween!October 31

Be it 4Floors, MasqueRAGE, or your friend’s costume party, celebrate the scary times.

Taste MTLNovember 1 - 11

Some of Montreal’s delectable restau-rants are going prix-fixe, 3 courses, 1 price.

2013 Annual Beaverbrook LecturerNovember 5, 6PM

Al Gore on Technology and the Future of Democratization. Tickets are free, but it’s going fast to see the former United States VP speak about global issues.

Tarun Koshy Executive Editor Max Feinsot Managing Editor

Doron Lurie Editor-at-Large

Matthew HunterChief Layout Editor Jean Moirez Media Editor Aimee Pellegrino Lead News Editor Jonathan Craske Lead Business Editor Andrew Marcovitch Business Editor April Wu Lead Lifestyle Editor

Marisa Samek Lifestyle Editor

Laura Thistle Lead Opinion Editor Alex Petralia Opinion Editor

Flora BertinAnthony Heinrich Hayley Lim Michelle PaspeLayout Editors Kapil Mehra Advertising Director Henry Fuz-Keeve Lead Web Editor

Charlotte Plamondon Social Media Rep

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McGill’s Nahum Gelber Law Library is home to the John Humphrey United Nations Collection,

dedicated to the works of the late McGill law professor and original drafter of the Universal Declaration of Human Rights. Adopted by the United Nations General Assembly in 1948 as a response to the atrocities of the Second World War, the UDHR aimed to instill “universal respect for, and observance of, human rights and fundamental freedoms for all without distinction as to race, sex, language, or religion.”

Now, decades later, the Parti Quebecois’ Charter of Values is seen as challenging

some of the universal rights Humphrey spent his life establishing, limiting the use of visible religious symbols by Quebec’s public employees.

The reaction among Quebec’s public sector employees has been immediate. McGill professors have already begun speaking out against the charter’s propositions. Professor Catherine Lu of the Political Science Department, along with Professor Marie-Joelle Zahar of Université de Montréal, planned a Week of Action starting September 12th, asking all educators to don religious symbols of their choosing in lectures as a form of protest.

“The restrictions in the proposed Charter are unwarranted, and will likely fuel alienation of religious minorities from the Quebec state and its institutions, confounding the necessary and desired goal of integration,” the pair wrote in a letter sent out to colleagues.

Some supporters of the Charter see it as a push towards a Quebec reminiscent of old, one that is more deeply ingrained with French values. Conspicuous religious headwear has been a topic of controversy in France since Jacques Chirac’s 2004 bill mandating that religious veils and signs be outlawed in public primary and secondary schools. The controversy has led some to suggest that the

Freedom and Secularization in Modern Quebec

PQ Charter of Values sparks debate,

controversy

Ana MaljkovicNEWS WRITER

NEWS

ILLUSTRATION BY MOHAMMAD KHAN

The Bull & Bear - October 2013 5

Charter of Values would protect children from religious indoctrination by their educators.

To an outsider, McGill’s Faculty of Religious Studies may seem even more susceptible to indoctrination than others, as a large majority of its professors are open about their religious practices. However, this has never posed a problem for Ellen Aitken, the Dean of Religious Studies and an ordained Anglican priest. “The discipline of religious studies is best served by not only the scholarly questions and critical analyses that come from standing outside of a tradition, but also by asking questions that come from the practitioners of the tradition,” Aitken explained.

“Notice how I’m saying questions and not convictions. Teaching’s not a matter of teaching dogma, it’s teaching critical thinking. Students are converted to the practice of critical thinking, and not to the religious traditions themselves.”

Many PQ supporters continue to assert that the Charter does not target or favour specific groups, though it would not seek to remove the cross from the national assembly or the top of Mont Royal. Rather, Charter proponents argue that it can liberate them. A general argument in favour of the Charter centers on the idea that the propositions of the bill would free oppressed Muslim women who are forced to wear a veil.

Doaa Farid of McGill’s Muslim Students’ Association does not agree with this assessment. “The women I know who wear the niqab do it out of conviction and fulfilment of trying to get close to God,” Farid notes. “They do it out of modesty and integrity to their own well-being and happiness.”

Professor Douglas Farrow of the Religious Studies department, who has written extensively on the role of religion in public education, holds a different, more controversial position. Farrow suggests that particular aspects of Islamic society have sparked many of the sentiments behind the charter.

“Christianity has always had a certain kind of reserve,” Farrow asserts. “Church and state are not the same thing, and they might be aligned in different ways and to different degrees, but they’re not the same thing, whereas in some Muslim cultures, church and state become much more melded, and that becomes a threat to civil freedoms and to religious freedom, as we see in some Muslim countries.”

“I’m not saying the government and

people in Quebec shouldn’t look at that skeptically, carefully and cautiously,” he continued, “but I think there’s an element of fear that derives from the fact that they know their own population base is dwindling.”

But for Farid, this is an argument that has been heard far too often. “Religion is always blamed for the wrongdoings of people. Never judge a religion by how some of its followers are acting. Judge it by its text, without taking it out of context.”

While the religious persecution argument has dominated charter discussions, many faculty members see the problem going much deeper.

“There is a fear that we will lose talented people who will find it unacceptable to have their liberties restricted in these ways, people who we would need to service the pluralistic community we have in both Montreal and Quebec,” explained Professor Lu. With the creation of a hostile environment, there are concerns over what could happen to McGill’s international reputation.

“I am worried that if this law were to go through, it would discourage international students from coming here, particularly students from countries where being more visible about your religious commitments is the norm – or students from other countries who simply don’t know what it’s going to be like to be a foreigner here,” added Aitken. Dean Aitken’s concern is legitimate: McGill’s 8,302 international students currently make up 21.4 percent of the student body.

The debate surrounding the charter has also raised questions about what secularism should mean in modern Quebecois society. “I’m very much aligned with Charles Taylor’s definition of secularism, that a very rich secularism has a lot of room for diversity, and for lots of different religious peoples and traditions. It’s not something that’s opposed to religion,” Aitken asserted. “When we think about a very narrow secularism that is about pushing out anything that differentiates one person from another, then we’re in trouble.”

For some, the issue of the charter becoming law simply seems too improbable to warrant a frenzy of fear and worry. However, that doesn’t stop many from lamenting on the issues the PQ has created for themselves in facilitating this level of public discussion on religion in Quebec.

While Aitken is happy the Charter controversy has sparked an interest in understanding religion, especially among young people, she foresees issues for the future of Quebec society. “I think it’s

unleashed some things they didn’t plan,” Aitken laments. “I think the discussions around racism were not intended. Pandora’s Box was opened here and some very serious things came out.”

The Charter’s detractors have also framed the bill as a distraction from more important issues in Quebec society.

“We’re not getting regular, in-depth newspaper reporting right now on the disastrous state of the economy, or even on Lac Megantic and the environmental questions, or young people and employment, or literacy rates, or university funding,” Aitken remarked. “This topic is monopolizing the news, and maybe I’m cynical, but whenever a government policy or topic monopolizes the news, I get very suspicious that it’s a smoke screen, a distraction for issues they’d rather not have the media attend to.”

“There is a perception of problems that doesn’t correlate with reality,” concluded Professor Lu. “In reality, there have been very few problems with people wearing religious symbols. Why do we need this if there have been no actual problems? Why don’t we come up with laws for things that actually matter?”

For Professor Lu, the solution lies in reimagining Quebec’s national identity. “Who is the Quebec nation? What is Quebec’s national heritage? If you go to the Mont-Royal cemetery, you’ll see the graves of all kinds of different people: Muslims, Jews, Christians, non-believers. They’re all a part of Quebec’s national heritage. They all lived here and died here, so it’s not clear to me who has the right to exclude any of these people.”

NEWS

ILLUSTRATION BY MOHAMMAD KHANPHOTO BY ANA MALJKOVIC

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NEWS

Bridging the Road Not Taken

Michael PaolucciNEWS WRITER

McGill start-up helps you meet the friends you ought to know

The simplest choices in life often dictate the friends we make. The residence we live in, the classes we take, or even

where we choose to eat lunch play a major role in determining the people we end up befriending. “I made most of my friends at New Rez,” reminisces U3 Political Science student Miki Taye. “I met a very good friend of mine by just sitting with her when we were both eating alone in the cafeteria.” What if our residence lottery went another way or if we chose a different major? What happens to the friends we would have made in that alternate timeline?

The overwhelming nature of first year has left some upper year students feeling unfulfilled due to their inability to expand their social circle enough during those formative years. This is particularly true for students who decided to live off campus during first year, did not feel comfortable in their assigned residence or who felt absolutely overwhelmed by Frosh.

In upper years, social barriers often exist when meeting like-minded students for there becomes a perceived smaller window of opportunity. “What I have found is people form their group of friends in first year and get comfortable with that,” says U3 Economics student Eve Yekelchik. “Once they feel settled, minimal effort is put into meeting new people, and now it almost feels too late.”

In response, U3 Political Science and Biology student Joseph Macneil has created Thundr, a McGill-centric application to help provide students a window of opportunity to branch out and meet like-minded classmates. “Thundr is meant to help McGill students meet the cool people they should already know, but have yet to meet,” Macneil explains.

Macneil believes that social media can provide the tools to remove those barriers when meeting new people and do it in a more personal, interest-driven way that Frosh or rez life often do not offer. “In first year I was

one of over 600 people in New Rez, and felt as if there were barriers to expanding my social network because people tended to be stuck on their own floors,” recounts Macneil. “Frosh was also overwhelming because you’re set off into a huge group and are just told to go wild.”

Thundr allows users to create an account and input their interests ranging from movies, music, inspirational figures, and enrolled courses. Based on this information users with the most overlapping interests are paired. Macneil uses a matching algorithm to display users whose profiles reach the defined threshold for pairing, then some self-supervision is applied to make the final decision. The matched pair will then bring along two of their friends to allow for a more comfortable experience. Larger groups act as a social accelerant, allowing users to meet with a greater amount of people.

Thundr is marketed as an “adventure club” because it provides users with opportunities to branch out of the “McGill bubble” and see different parts of the Montreal nightlife not typically frequented by solely university students. “Once a week you can go to different places you wouldn’t normally go to like bars, speakeasies and lounges, places with more of a relaxed atmosphere where conversations are encouraged” explains Macneil.

On event nights, also known as “Thundr Thursdays,” a reservation will be made for your party at a “trendy watering hole in the Plateau, the Mile End, or Old Montreal” and Thundr will levy a fee of $15-20 from each attendee to pay for the first round of drinks. The idea behind the fee is to make sure that everyone shows up and also to ensure they will not feel tied down to wait for the bill. “If it is too awkward, anyone can ‘thundrbolt’ at any point of the night since the bill has already been paid for, but ideally they’ll be ‘thundrstruck,’” notes a bemused Macneil.

Thundr has garnered a strong level of interest from students. Since registration opened at the beginning of September, approximately 150 users have created profiles. Each user has on average posted 40 interests to their profile.

“Thundr’s target audience is anyone at McGill who believes there are people out there that they would really like to meet,” Macneil explains. While advertising has been more geared towards first years, users are distributed fairly equally among the years and genders with freshmen representing a small plurality.

Macneil says he is not able to define if Thundr is meant more for romantic or platonic relationships. “Each user can approach Thundr the way they want to, the idea is just to get creative people talking about the things they are passionate about.” The vast majority, however, are not using it as a dating site, as 80 percent of current users have indicated that they are looking to meet any user with whom they are matched.

Looking forward, Macneil is focused on Thundr’s first set of events, which started on October 3rd for early registrants. He hopes to demonstrate the interest in his service to bars

ILLUS

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The Bull & Bear - October 2013 7

NEWS

in order to create more partnerships and find additional discounts for Thundr users.

There are a variety of applications to help people meet one another such as OkCupid or MeetMe. Thundr takes a slightly different approach because it is completely McGill-centric and pairs users based on their passions. Dating website OkCupid, for example, requires users to answer questions such as “how messy are you?” or “have you ever cheated in a relationship?” and then filters potential matches to find other users with a similar attractiveness rating. Moreover, Thundr seeks to provide a comfortable intimate environment to

facilitate conversations amongst small groups, while OkCupid is geared towards one on one dates or MeetMe which brings together a large group of people sharing a particular interest.

In the past, there was a stigma attached to meeting people online as it was seen as something reserved for socially awkward people or busy professionals who do not have enough time for dating in the traditional sense. However, more and more people are using social media as a legitimate means to forge friendships and relationships. Amongst university students, where nearly everyone has a large internet presence through

Facebook or Twitter, meeting another classmate online is by no means a rarity.

So, does this stigma still exist? “I don’t think there is very much of a stigma to meeting people online at all,” Taye responds. “The internet is such a large part of our lives that no one is off put by meeting friends on it.” However, Yekelchik takes a slightly more conservative stance. “While I think that the stigma definitely still exists, it is becoming more normal and accepted.” Learn more about Thundr at thundr.us

For nearly half of all incoming first year students “Rez Life” is a hallmark of the first year experience.

Residence offers an unparalleled way to surround new students with peers diverse in both experiences and beliefs. While this time is exciting for most, it is also the first time that many have lived on their own. Living in a big city such as Montreal presents a set of safety issues with which many students are unfamiliar; many incoming students feel more at ease living in the structured, community-oriented environment of Rez. But just how secure is McGill Housing?

In a recent interview with The Bull & Bear, Janice Johnson, Interim Director of Residence and Student Housing, discussed the reasoning for the security mechanisms that are installed in each residence. The large hotel style residences have strict sign-in policies and turnstiles, while all other buildings only have cardkey access.

The Housing Office justifies the variation in approaches by where the residences are located. As far as McGill is concerned, having to climb the massive hill to Upper Rez is a security feature in itself, since the area attracts so few

from outside the McGill community. As a result, the strictest security options are seen as unnecessary. In contrast, La Citadelle, Carrefour Sherbrooke and New Residence Hall are in some of the busiest areas of the city, and therefore require stronger security. “The three large ‘hotel’ residences are in very high traffic areas,” Johnson explains. “There are greater reasons for access control in those buildings.”

Though having stricter protocols in the large residences does boost security, Johnson concedes that they can create an unwelcoming environment. “We do

PHOTOS BY ADAM BANKS

Security in Residence:

How Safe Are We?Evaluating the safety concerns of living in Rez

Julia RodriguezNEWS WRITER

8

not want to go overboard on the scare-factor with security, yet students must face the reality of living in a city,” she notes. In residence, students interact with downtown Montreal on a daily basis which is why Johnson puts great emphasis on educating incoming students on personal safety. She encourages students to lock their doors and to be constantly aware of their surroundings.

Many first years opt not to live in the traditional residences, preferring those in more of an apartment-style such as the Greenbriar Apartments, Solin Hall, or the MORE houses. New this year to the list of housing options are the Varcity515 apartments on the corner of City Councillors and Saint Catherine’s.

With Douglas Hall closed for the year due to renovations, Housing and Hospitality Services was left to find rooms for the 400 incoming first-years who may otherwise have been housed there, and Varcity515 became the destination for 85 of these students. These apartments are fully furnished suites that house four or five individuals each with their own room.

“Such alternative, apartment style living situations are by far the most popular and most requested [housing] option by incoming students,” Johnson claims. While these arrangements may be in high demand, they present a whole new set of security questions. The key difference between the other apartment-style living options and Varcity515 is that Varcity is not considered a formal McGill Residence, but rather a private building in which McGill Housing has placed students.

Since students housed in Varcity515 are not living in official McGill housing,

the University is no longer responsible for their safety. “Varcity515 is responsible for the building, security, amenities, and so on,” Johnson explains. Incoming students are willing to pay the high premiums for Residence at least in part because of the secure environment that they offer, but are students as safe if the University is no longer responsible for them?

The Director of Varcity515, Alice

Leduc, sat down with The Bull & Bear to discuss the building’s security measures. Each floor is equipped with three security cameras in the hallways with additional cameras in the laundry and trash rooms. The lock on each apartment’s front door is electronic, recording when it has been dead-bolted, locked, unlocked and by which key. However, Alice reiterates Johnson’s message that Residence is “only as safe as you allow it to be.”

Although security is strong, it does not mean students feel entirely safe. First year McGill student, Natasha Comear, moved into to Varcity515 in late August. On her third night in Montreal she awoke at three in the morning to a strange man stroking her arm. The man left the apartment and Comear reported the incident to security. They read her door and checked the security cameras and found that indeed, someone had entered the apartment. However, because the apartment door had been unlocked, the building had no responsibility to report the incident. Comear, on the other hand, reported the incident herself, prompting

the building to post the following on each apartment door:

TO ALL TENANTS OF VARCITY515This is to inform you that your

apartment front door should be locked at all times. If anything happens and your door was not locked we will not be responsible.

Although Comear is not on one of 515’s residence floors, she lives in an

identical situation to all other McGill students in the building. News of the incident spread throughout the building prompting students to rethink their assessment of the building’s safety. Comear has since installed a peephole on her apartment door for extra security and locks her bedroom door every night. “I felt really unsafe for a couple days. I feel that the building should have been more sympathetic to the situation, even if our door was unlocked.” When residence student Zoe Reindl-Heit reflected on the incident she said, “When I think of Rez I think of community. I hate to think that things like that could happen in a place that is supposed to be our new home.”

Leduc claims that such incidents are often alcohol related and tend to be benign. “We have kids who come in on Friday night, Saturday night, who are drunk and don’t realize what floor they are getting off and they walk into the wrong apartment,” she commented. Leduc reiterates that students should be careful to keep their doors locked and be mindful of who they allow into the building.

Student Housing and Hospitality Services attempts to offer a safe living environment regardless of the residence, but Johnson feels that much of the responsibility for safety lies with the student. “Every year we try to instill that sense of responsibility,” noted Johnson. Personal safety is a skill that you take with you when you move out.” However, many still feel that McGill should take more responsibility for them. “Honestly, I would rather live on my own than in Rez,” asserted Aykonur Nakajima, a Varcity515 first-year student. “Our parents want us to live here because they think it’s safer, but it’s not.”

NEWS

Although security is strong, it does not mean students feel entirely safe.

9The Bull & Bear - October 2013

BUSINESS

We trade one item for another because we believe the item we receive has more value

than the item we give up. The value of something is not its price tag. Value is intrinsic, it is a personal opinion of the utility it brings us notwithstanding the amount of money it is worth. Consider this classic example, 1 coffee costs $2 and brings us satisfaction. The 2nd, 3rd and 4th coffee also cost $2 each, but bring us incrementally less satisfaction (who wants to drink 4 coffees in a row?). Theoretically, for trade to take place, the trading partners must intrinsically value the items differently, otherwise neither individual would experience an increase in value from the trade.

Value is essentially the worth or usefulness of something. A market is a place where people meet to exchange on the basis of their beliefs of value. We exchange our money for an iPhone in the market of the Apple store. We exchange our time for money in the labour market (with the notable exclusion of unpaid internships). We exchange our money for food in the market of the grocery store. Importantly, we always tend towards exchanging up in value.

“A sandwich is worth more to me than these 4 dollars. Hey Sandwich Dave (first name Sandwich, last name Dave) lets make a trade: My money for your food.” Both participants of a transaction value the same product differently, which allows the transaction to take place. I need food because I am hungry. Therefore, the food is more valuable to me than $4. For Sandwich Dave, $4 is more valuable to him than the sandwich (presumably

because he has many more sandwiches).The same product, but with different

assessments of value, led to a trade. The same principal applies for

financial markets. As an investor you might think of buying Apple stock. The reason you would buy the stock is that, relative to all other financial products you can buy, AAPL will

give you the most value per dollar. There are two reasons to undergo

any barter transaction: reward and risk. Inherently, we are interested in maximizing reward and minimizing risk. Value is the combination of these two concepts. However, individual opinions of the optimal combination that results in maximum value differ. Certain investors value minimizing risk (risk-averse) over all else, others prioritize maximizing reward (risk-neutral). For someone to maximize their value extracted from a transaction, they demand the most reward for the level of risk they are willing to accept.

Risk and reward are not just concepts for financial markets. Even when we eat our food, risk and reward are at play - our personal preferences dictate the combination of risk and reward we are willing to accept. Risk-averse eaters take small bites and check expiry dates to avoid risk of food poisoning and choking.

Eaters who value reward highly may eat uncooked fish to experience the taste, without much regard for the risk of a potentially unpleasant evening thereafter.

An investor may buy Apple stock because he thinks that it is undervalued relative to what someone else will pay. This just means that he thinks someone else will want to buy it at a higher price; someone else values it more than he does. Buyers buy because they think they can sell higher. We go through transactions because we think we can gain value from them.

Given the choice to buy AAPL at $450 and then resell for 10 percent more, or buy GOOG at $500 and then resell for 8% more, the intelligent investor would go with Apple, Right? Not necessarily. This methodology considers only reward without regard for risk. If AAPL is more risky than GOOG, then the risk needs to be factored into the investment decision. Investors shouldn’t consider expected return in their decisions, they should refer to risk-adjusted expected return.

Financial markets are just like any market where transactions take place. They help people achieve higher value by trading the resources they have available for new resources. So readers, I want you to think about how you value items. The point at which one thing becomes more valuable to you than another is personal and subjective. At what price is money more valuable to you than time? At what point is happiness more valuable than money? And at what price is a sandwich more valuable to you than cash? Super Sandwich is starting to make a lot more sense, isn’t it?

Why We TradeValue is not a price, it’s an opinion

Maxime RiahiBUSINESS WRITER

Importantly, we always tend towards

exchanging up in value.

PHOTO VIA WIKIPEDIA

10

It is estimated that every dollar invested in the Canadian oil sands will create about $7.50 in total

economic impact over the following 25 years. During the second quarter of 2013, Warren Buffet’s Berkshire Hathaway reportedly bought a $500 million stake in Calgary-based heavy-oil (the type of crude oil coming from western Canada) producer Suncor Energy. Although this represents a transaction in the secondary markets, it can be ultimately viewed as a capital

inflow for the oil sands industry. So while you try reaching Warren Buffet to thank him for indirectly contributing $3.75 billion to the Canadian economy over the next 25 years, let’s follow the money and drill deeper into the underlying sector fundamentals behind this investment.

Over the past 2 years, there has been a lack of transportation capacity from western Canada to refineries elsewhere in North America. This has led to a discrepancy in heavy oil prices

across geographic regions. Looking at data since 2011, the differential between the Western Canadian Select, a benchmark for heavy oil prices in western Canada, and the Mexican Maya, a crude oil of approximately equivalent grade quoted at the gulf coast, has expand from an average of just -$3.8 during 2008-2010 to an average of more than -$23.5 since 2011 (Chart 1). Depressed WCS prices meant lower realized oil prices and hence depressed valuations among Canadian

Chart 1: Oil Prices Differentials

Drilling Down on the West Canadian Select Oil SandsBelal YassineBUSINESS WRITER

Arbitrage opportunity accross oil markets?

BUSINESS

The Bull & Bear - October 2013 11

oil companies, mainly heavy oil ones.This represents an arbitrage

opportunity to transport Western Canadian Select to the Gulf Coast and pocket $23.5 less the transportation costs. But what happened to the free market’s aptitude to exploit and diminish arbitrage opportunities?

Truth be told, the free market’s aptitude to exploit opportunities is very much still in existence. The reason prices across the two markets have not converged is because there is a lack of oil transportation capacity between western Canada and the Gulf Coast. However, the market is becoming more innovative in searching for solutions. Energy East is building a west-to-east pipeline that

would carry 1.1 million barrels of oil per day, and the novel crude-by-rail transportation method is growing fast. It is estimated that more than 700,000 barrels per day of rail transportation capacity is to become available in

western Canada by the end of 2014. Even if no new pipelines are

approved, the addition of rail capacity could result in the price differential narrowing down to $15-20 per barrel, equal to the average cost of transporting crude by rail from western Canada to the Gulf Coast.

So the price differential between WCS and MAYA is essentially equal to the transportation cost of moving oil from western Canada to the Gulf Coast. That being said, there is no real arbitrage opportunity; anyone who buys oil at lower WCS prices must fork out transportation costs that are virtually equal to the price premium in the Gulf Coast. In this case, there is no free money to be made.

There are two possible scenarios for the future of WCS heavy oil prices. The differential settles down to $15-20 with the arrival of rail transportation capacity through the end of 2014. Alternatively, the

government approves major pipeline projects such as Keystone XL, Energy East or Trans Mountain, reducing the transportation cost to $7-11 per barrel. If the latter turns out to be the case, then the price differential between the two markets should narrow even further to just $7-11 apart.

The result of all of this? Trading at a differential equal to rail transportation costs or pipeline tolls, the WCS-MAYA differential is set to narrow. However, although oil sands equities are intended to track WCS prices (see Chart 3), the relationship broke around August 2012 and oil sands valuation have not reflected WCS spot nor futures movements (Chart 3). In simple terms, both WCS spot and futures prices are on the rise, and this should cause oil sands company valuations to rise as well – but this has not happened. This can be explained by Mr. Market dreading uncertainty and hence depressing oil sands valuations.

Now that we understand what Mr. Buffett sees, we would be wise to follow his lead.

Disclosure: I have been long Suncor Energy (NYSE: SU) since November 2012.

Chart 2: WCS vs Oil Sands Company Valuations

Truth be told the free markets’ aptitude to exploit arbitrage

opportunities is very much still in existence

BUSINESS

12

The biggest economy in Europe has seen yet another increase in its unemployment rate, much

more significant than its previous figures. The rise in jobless Germans is viewed by many as a red flag that the Eurozone’s economic recovery may not be as promising as was once thought.

In August, analysts predicted that the total number of unemployed individuals in September would decline by 5,000. News was recently released, however, showing that the number of people unemployed in fact increased by 25,000, coming on the heels of a 9,000 rise the previous month. The result is that Germany’s unemployment rate has risen from 6.8 percent to 6.9 percent. Although these figures remain at a near two-decade low, they are certainly proving cause for concern.

Several analysts, including Bloomberg writer Annalisa Piazza, have pointed out that Germany’s labour force is not going to diminish now that its economy is actually recovering, as thankfully indicated by several other metrics.

The central bank predicts that GDP will rise by 0.3 percent this year and 1.5 percent in 2014. Despite these improvements, major German companies such as Siemens and RWE are both planning to cut jobs in the next three to five years. In the midst of these looming job cuts, retail sales have risen by 0.5 percent in August after a drop of 0.2 percent in July.

Heinrich Alt, the vice president of the German Federal Labor Agency, stated that a large part of the problem is due to the fact that the labour force does not match the labour market’s

requirements. The agency has also identified a number of government job cuts as one of the causes for the increase in unemployment. Additionally, the distribution of the types of workers in the labour market is skewed. Many of the jobs being created are adding to an already significant excess of skilled labour demand, while the majority of the workforce, and particularly the unemployed, are unskilled workers. In an effort to deal with this divergence, the agency is gearing towards more long-term relief training programs for those currently unemployed.

Meanwhile, the Eurozone unemployment rate dropped to 12 percent in July and has held stable in August. It is worth noting, however, that this rate is disguising the widening variation between countries and their unemployment rates. For instance, Austria’s unemployment rate is a

comfortable 4.9 percent, compared to Greece’s, which is 27.9 percent.

Looking at other economic indicators, September marks the third consecutive month that the European manufacturing index has increased, whereas the UK index has stumbled. Farther east, China’s manufacturing index has only increased marginally, falling far short of expectations.

In spite of the disparity between indicators and the unemployment rate, analysts from IHS Global say that “generally improving economic developments… suggest that unemployment remains likely to stabilize during the latter months of 2013 and return to a declining tendency in 2014.” Nonetheless, recent numbers will certainly lead both analysts and policy makers to watch Germany with an eagle eye for years to come.

Europe’s Sputtering Motor?Natalya HibbertBUSINESS WRITER

BUSINESS

The disconcerting rise of German unemployment

PHOTO VIA WIKIPEDIA

13The Bull & Bear - October 2013 13

BUSINESS

PHOTO VIA WIKIPEDIA

14

To maintain its reputation as a world-class research institution, McGill University has a

responsibility to encourage scientific innovation. Our researchers have discovered the basis of radioactive elements, studied the functions of different parts of the brain, and even helped mould the foundations of modern medicine. With the advancement of technology, funding, and time, the realm of discovery is expanding at McGill. Though most of the focus is placed on the research done by postgraduates, for many students, research at McGill can begin at the undergraduate level.

“As the Associate Dean once said, in so many ways, there is really not that much difference between an undergraduate and a master’s student,” asserted Victor Chisholm, the Undergraduate Research Officer in the Faculty of Science. “Master’s students have more hard skills and training, but undergraduate students can also have fresher eyes and approaches.”

In 2013, 47 percent of Bachelor of Science students were enrolled in an undergraduate research course. Within Science, all honours students are required to take a research course, and an additional 36 percent of non-honours students enrolled in these research courses last year by choice. This demonstrates a ten percent rise in students enrolling in these courses since 2006. “These numbers are impressive; plus, students also participate in other extracurricular research activities, such as volunteering or summer research studentships, which are not captured in these numbers,” stated Chisholm.

Research-based courses place undergraduate science students in the laboratories of leading researchers for credit and allow students to gain practical experience. “Students become

engaged in creating knowledge and figuring things out rather than just memorizing the facts,” Chisholm noted.

Through work in a laboratory, undergraduate researchers have gained exposure and have contributed to major discoveries. Jaan Altosaar, a 2013 McGill graduate and current graduate student pursuing a PhD in physics at Princeton University, partook in research at McGill in the labs of epigenetics Professor Moshe Szyf and biophysics Professor Walter Reisner.

“McGill’s excellent support of undergraduate research via courses, funding, and conferences means that you cannot escape such scientific immersion,” Altosaar explained. “Logical experimental research plans taught me discipline of thought and action, sustained perseverance, and how necessary it is to reflect on one’s observations to ensure objectivity.”

There are several programs piloted by McGill connecting students to research opportunities, such as the Soup and Science series of presentations and funding initiatives available through the Undergraduate Research Office. Recently, Chisholm found that the number of students paid for research conducted in the summer is approximately the same as the number of tenure track professors doing the same thing.

A force leading the public representation of undergraduate research is the McGill Science Undergraduate Research Journal (MSURJ). The journal features original research conducted by undergraduate students. Submission of articles to the journal provides undergraduate students with the opportunity to participate in the drafting and review of scientific articles.

“MSURJ is a peer reviewed journal, open to science and nonscience students,”

related Farah Musharbash, Senior Editor of MSURJ. “After submission, we send it to professors and researchers to review two to three times, as well as read the articles themselves. After the process, we pick which ones will make it to the journal.”

Aside from reviewing and publishing the work of other undergraduates for the journal, the editors behind the publication are involved in their own research pursuits. Musharbash assists a PhD student in a biomedical engineering lab supervised by Dr. David Junkers, in which specific proteins called biomarkers are studied. The biomarker proteins, detectable through blood tests, could be used in the future to catch high mortality diseases, such as cancer and heart disease.

“Before, the only way to know that someone had a disease was through symptoms, but now they are looking to blood tests. Researchers are looking to detect the disease through blood tests, before people actually ‘get’ the disease,” stated Musharbash.

Yuhao Shi, Executive Editor of MSURJ, has had the opportunity to work in the prestigious Genome Innovation Center supervised by Dr. Jacek Majewski. At the Genome Innovation Center, the fields of computer science and biology are merged to study how the use of computers can analyze the genomes of people with genetic disorders.

“I helped conceive a new algorithm for detecting a special class of mutations,” Shi beamed. “My work has helped identify the genetic causes of several disorders, as well as profile the exomes of cancer patients. Traditionally these endeavours could take years, but now we can accomplish them in a matter of weeks.”

Brian Krug, the journal’s Associate Editor, completed research relating to

Undergraduate Innovation:A Campus Wide Opportunity

Kathleen TullyNEWS WRITER

McGill’s undergrads contribute to breakthroughs

FEATURE

15The Bull & Bear - October 2013

plant evolution and drug development for cystic fibrosis. “The advantage of doing undergraduate research is that it helps you form ties with professors that will benefit you in completing graduate degrees,” Krug advises. “An independent research project or summer internship can give you a jump-start on your master’s. If you form a connection with a professor that you enjoy working with, you can know what you’re getting into.”

Chisholm emphasizes that experience is the main target of the research program at McGill, “Personal innovation is the goal, not just to have one discovery and it’s over with, but that we transform students so that they can discover their gift or their talents and see what they can do with that day after day.”

Paul Wiseman, one of McGill’s most renowned researchers as well as leading chemist and physicist, discovered his interest and field of research in chemistry and health during his years as an undergraduate student. Now, Wiseman has discovered properties of malaria that allow for more accurate and simple diagnosis.

The research efforts of undergraduate students are showcased yearly at the Undergraduate Research Conference, occurring this year on October 10 in the Arts Building. Research featured this year spans many disciplines and delves into topics such as “the fear of missing out”, glacier melting, green pharmaceuticals, and sensory stimulation. Chisholm says that many people that attend the conference believe some of the research conducted by the undergraduates is graduate level work. Chisholm attributes the depth of the work to both the quality of the students and the willingness of professors to accept and mentor students in research.

Yuhao Shi supported that the collaboration of the university and undergraduates is important to the advances made in research “Most people think McGill is fostering groundbreaking research because it recruits the best faculty. While I don’t disagree with that, I strongly believe that innovation can just as easily come from undergraduate students,” Shi argued. “In the end, it is this rich research culture that makes a difference.”

FEATURE

PHOTOS VIA FLICKR

16

In a recent study from Western University, post-secondary students in Canada were asked to list and rank

their primary motivations and goals for attending university at both the beginning and end of their academic careers. It should come as no surprise, especially to those of us who have struggled through the trials and tribulations of attempting to enter the working world, that the difference in perspective was drastic after 4 years.

Students strolling onto campus for the first time were driven by an excitement for learning, a passion for their field of study, and a general curiosity for the world around them. Years later, after several rounds of midterms, finals, and career advisor appointments had worn them down, finding a career eventually supersedes all else as the fundamental goal of a university education.

This is not to say that an idealistic approach to education, pursuing academic interest purely out of love for the subject matter, is necessarily disjoint from

successfully preparing for a career. Rather, the problem is that the highly structured and rigidly defined nature of modern university programs perpetually denies us opportunities that are fundamental to both our personal and professional development.

A consequence of this is a noticeable decline in the culture of exceptionalism among graduates. James Cote, a sociologist at Western University and one of the developers of the study, attributes this absence of excellence to the failure of educators to cultivate the enthusiasm of new students, forcing them to find their own sources of inspiration.

It was with this in mind that Thomas Brag and Noah Dayan decided to carve a different path for their university experience. The two undergraduate students, studying entrepreneurship and computer science respectively, have been active in start-up culture both within and beyond McGill since they first arrived in Montreal.

Between the two of them, Brag and Dayan have developed multiple start-ups, with their latest taking shape as a website currently in beta testing. They have met with investors from coast to coast in both Canada and the United States, been invited to hear from the likes of Elon Musk and Sean Fanning, and have in the process accrued first-hand knowledge about what innovation, specifically at McGill, really looks like.

“It wasn’t until I came to McGill that I really started to consider starting a company,” notes Brag. “I don’t think most schools help [students] to think outside the box. The purpose of school is to forge us into the ideal worker, and not to become innovators.” McGill, however, is where both Brag and Dayan were able not only to think like entrepreneurs, but to understand what it means to innovate, and to introduce new ideas to the professional world.

Going Your Own WayStart-up culture at McGill

Jonathan CraskeLEAD BUSINESS EDITOR

PHOTO VIA FLICKR

The Bull & Bear - October 2013 17

Through support from the Entrepreneurial Society of McGill, CAPS, the Dobson Cup, and professors, the two students have seen their latest project take off. PassionSnack is a website that offers a virtual replication of real-life community interaction based on interests, location, and more. With a modestly sized but highly capable staff of just seven, the site is currently being coupled with a smartphone app in development, and has seen significant interest from a variety of investors.

“Most investors we talk to know about McGill and see it as an elite school.” says Brag. Recently, the pair was invited to meet with a venture firm based in Boston that, historically, draws almost exclusively from projects emerging out of MIT Sloan or Harvard Business. Opportunities like this are examples of instances in which Brag and Dayan have seen investor interests peaked just as a result of their “knowing we’re from McGill.”

“It’s not just the academics that we look at,” says one consulting recruiter, who has requested to remain anonymous. “We look to McGill for students who get a lot of their learning from outside of the classroom. Grades are certainly important, but there’s a lot they don’t capture. People often forget that.” Brag and Dayan are clear that they have been more than willing to give up a few points on their GPA in exchange for

the experience they’ve been able to gain over their years working with start-ups.

Within Desautels, the Dobson Cup and the McGill Entrepreneurs Society (both resources which Brag and Dayan utilized in developing their projects) are primary drivers of innovative student culture. The Dobson Cup, currently in its 6th year, offers teams of students from all faculties the chance to develop, refine, and present business plans for both profit and not-for-profit start-ups, with awards totaling $60,000. The competition has seen the number of participating teams increase from 18 in 2009 to 291 last year, with significantly more expected for 2014.

Similarly, the McGill Entrepreneurs Society provides

students with a multitude of resources to help accelerate the culture of innovation within the program. Brag specifies that it is precisely these sorts of institutions, and indeed the individual efforts of professors as well, that are so important to extracting more out of a university education.

In September of this year, a team of Desautels MBA students were announced as the winners of the prestigious Hult Prize for Social-Entrepreneurship. Working with a proposal that revolved around using insects as a solution for sustainable food security, the team was one of six invited from around the world to present in a “pitch-off ” in New York City, to a panel that included Nobel Peace Prize Winner Muhammad Yunus and executives from the United Nations Foundation. Facing off against teams from the London School of Economics, University of Cape Town, and more, the team was awarded $1 million in seed capital by former US President Bill Clinton.

“This is a fantastic opportunity, and we’re really grateful to the McGill community for giving us the resources

we need,” says team member Shobhita Soor, a student of McGill’s joint MBA-Law program. Team leader Mohammed Ashour confirmed that “McGill’s alumni network was extremely supportive.”

Initiatives like that of the Hult team (Aspire Food Group) and countless others have led Desautels to become one of the leading management faculties in the world for promoting social entrepreneurship through both the existing entrepreneurial program, as well as an extensive and highly active network of students, faculty, and professionals.

“To make a class on entrepreneurship, you can’t organize it the same way other classes are structured.” Brag and Dayan are adamant that there are dimensions to thinking differently and to creating that cannot be offered in 3 hours of lectures a week, but rather require significantly more

personal investment. “It’s about exposure and experience,” and McGill students seem to understand that far better than we give ourselves credit for.

Our expectations of higher education are not unrealistic, but

rather they are misplaced. It is not reasonable to expect all of our passion and enthusiasm for learning to be satisfied by a program that, by nature of its existence, must adhere to some form of structure. Instead, we should realized that a completely fulfilling university experience should also involve a great deal of learning outside of the classroom, and that now more than ever, the responsibility lies with the student to seek out and engage those opportunities.

Start-up culture at McGill has allowed students to supplement their in-class lessons with real-world experience, rather than stubbornly committing to either one or the other. They are able to indulge the enthusiasm that drove them to university in the first place while simultaneously expanding their career potential. Although start-up culture may be just one dimension of innovation at McGill, it is unique in that it allows the individual to define their own experience and development, with the security, assurance, and support of an e s t a b l i s h e d institution of learning.

“Most investors we talk to know about McGill and see it as

an elite school”

FEATURE

PHOTO VIA FLICKR

18

FEATURE

THE NEWECO

NO

MY

SOC

IAL

Jeff Baikowitz is an “honorary” McGill alum. He dropped out during

his undergrad to pursue his own recycling company, Encore Waste Management, which proved to be the first of many socially impactful successes.

Jeff is the co-founder of several companies including Essentia Technologies, which focuses on incorporating eco-friendly anti-bacterial protection into consumer and commercial goods, Victoria Park, one of Canada’s leading wellness centres, as well as Montreal food-scene starlets Park Restaurant, Liverpool House, and Joe Beef. One of his philanthropic ventures includes serving as Director and Chairman of LOVE - Leave Out Violence, a leading not-for-profit youth violence prevention organization in Canada.

Jeff has returned to McGill, not to complete his Bachelor’s, but rather as Inaugural Chairman of the Social Economy Initiative at Desautels and as a judge for the Dobson Cup’s Social Entrepreneurship track.

I sat down with him to find out what advice one of the top 40 entrepreneurs in the country has for McGill students.

What did you study at McGill?

I’m a terrible example of what I studied at McGill because I dropped out. A year into being a student, I started my first business. I became so busy with my business, that I wasn’t paying attention to my studies so I left school with the hopes that I would return later which never really materialized.

Were you always interested in Business?

I was never really interested in business and I’m still not really interested in business. But, business is one of the most effective ways of accomplishing what you set out to achieve. I could’ve remained a student, protesting and getting tear gassed by police, but within the business world, I’m able to have more influence and speak to a much broader audience about issues that are relevant to me.

Tell me about your first entrepreneurial venture.

I started a recycling program on campus during the late 80s. At the time, there were no real residential or commercial recycling programs. I started at the universities and then, as the demand grew for recycled content in newsprint, I started approaching much larger corporations. I was 18, 19—I looked 15—and, I was contracting these big companies because I laid out my proposition to them in a way where they saw the opportunity to make profit, not because they sought green solutions. Finally, one of the waste companies made a generous offer to buy me out.

What have you learned since then?

At that age, much more than at this age, challenges were exciting. What you quickly realize is that many businesses and business people are far less sophisticated than you would believe from what you learn in business school. That’s not a criticism. Sometimes less sophisticated

Marisa SamekLIFESTYLE EDITOR

Serial entrepreneur Jeffery Baikowitz dicusses one of the fastest growing

sectors in Canada

19The Bull & Bear - October 2013

people are better at getting things done. While it would be nice to be able to move forward with creativity, innovation and wisdom, execution usually wins the day. Everything is a matter of making more good choices than bad choices. I make bad choices all the time but hopefully I make more good ones than bad ones in the long run and that allows you to maintain forward momentum.

What is the Social Economy and Social entrepreneurship?

It happens to be one of the fastest growing sectors in Canada. I believe there are now over 200, 000 non-profits registered in Canada, over 40,000 in Quebec alone, and the entire sector employs over 2 million people. If you also consider the people that volunteer or contribute to non-profits in a meaningful way, you’re talking about affecting the lives of millions and millions of Canadians.

Why is there a growing interest in the Social Economy?

Social entrepreneurship has risen out of a need for the private sector to solve many of the social ills that the government has failed to resolve. Since entrepreneurs are the driving force behind employment and growth in Western economies, they have the highest likelihood of finding solutions to these challenges. More and more successful entrepreneurs view it as their responsibility to help and make a real change instead of just writing a check.

Is this interest in the social economy sustainable?

Where the 70s and 90s were considered to be more of a “me” generation, the 60s and what we’re going through now is a healthy reaction to that kind of excess. Moreover, many people in your generation never grew up expecting that the government was going to address social ills in the first place. The days of businesses and charities being two different silos are long gone. Top students are openly asking employers what their sustainability and social policies are.

As Inaugural Chairman of McGill’s Social Economy Initiative, what has been your involvement in establishing the SEI? What is its purpose?

In the early days of charity, people used to ask: “Where is this money going? Is it a good cause?” A good cause is equivalent to a good idea. Commitment to a good cause doesn’t ensure running an efficient charity.

As we’ve gotten more sophisticated, the smart foundations are not asking about the cause but rather about the impact.

The SEI is about professionalising the non-profit sector so that charities can be run in an efficient and impactful way. There are a lot of well-intentioned people in this sector who are not necessarily very competent because they haven’t been trained. It didn’t make sense to me that there wasn’t a program, a system, or a course being offered at one of the world’s leading universities about how to run a non-profit.

Students are amazed to learn that this is a career option. Whether it’s building social entrepreneurs or non-profit managers, people should be able to leave school and approach the non-profit sector with the same professionalism they approach any other industry.

From philanthropy, to restaurants and technology, you work in diverse industries on many different projects: what skills do you bring to all of them?

The two most critical skills in business are efficient decision making and being able to execute tasks in a pragmatic manner. I wish I could tell you about my creativity and innovation but even some of the greatest creative minds like Albert Einstein talk about “10 percent

inspiration, 90 percent perspiration” or artists like Chuck Close say: “Inspiration is for amateurs. The rest of us just show up and get to work everyday.” Every successful entrepreneur that I know sweated out all the details all the time: they’re working all the time, they’re worrying all the time, they’re fine tuning all the time. That’s true for a restaurant or a multi-national corporation.

What advice would you give to undergraduates currently thinking about an entrepreneurial career?

You have to state your intentions too early in university: this is what I want to do, this is what I want to major in, and this is the person that I’m going to be. Moreover, people think that if you don’t choose the right program, the right course, or even get the right professor that they will be on the wrong trajectory for the rest of their lives. It doesn’t work that way. Life keeps dealing you things that you expect, and things that you don’t. Students need to be less concerned about who they want to be in ten or twenty or thirty years from now and more concerned with what they want to be doing right now. Enjoy that, do it well, and then figure out the rest.

PHOTO VIA NOTABLE.CA

20

An institution of higher learn-ing must strive to provide a continuously improving level

of education to its students. McGill has unfortunately been falling short. Between the annual zealous postings of the QS rankings to the continued sale of “Harvard: America’s McGill” shirts, McGill administration is des-perately trying to maintain and pro-mote the school’s elitist image. But publicity moves and cute T-shirts are not the means to true academic innovation.

Our classrooms are falling apart, and the lessons themselves are bland and interchangeable. In order to maintain its status as the pinnacle of Canadian education, McGill needs to make some serious changes. If more funds are allocat-ed to technological improvements within our classrooms and facilities, we will gain access to countless new resources, allowing for inventive new curricula and a more engaging

and attractive academic environ-ment. It is time for a technological makeover.

The standard class experience at McGill involves sitting in a large lecture hall, listening to a professor talk for anywhere from one to three hours, and frantically taking as many notes as you can. You desperately hope that you catch everything, and that if you miss something it won’t be on the midterm. Why should such a dry learning method be the norm? However, these dry lectures have become the standard because most McGill classrooms lack the innova-tive technology required to branch out into more diverse and inventive teaching styles.

McGill administration tends to focus their attention on publicity moves to bolster McGill’s external image, rather than effectively ad-dress fundamental classroom-level issues. With updated classroom re-sources, which would allow for more

leading-edge teaching methods, McGill’s image would improve to an extent greater than any publicity move could ever accomplish.

Signs of this potential improve-ment can already be seen in certain buildings on campus; the Wong and Trottier science buildings are ter-rific examples of effective modern infrastructure, as is the Bronfman building. When asked for a com-ment, MUS VP Internal Aaron Eh-goetz remarked, “The infrastructure of the Bronfman Building is some-thing very unique at McGill. All the classrooms have been recently reno-vated and are appointed with the latest technology necessary for stu-dents to be competitive with others around the world.” Now it’s time for the rest of McGill’s facilities to get a facelift as well.

A number of McGill professors still manage to get creative with their methods. From stock simula-tions to reenactments to literally

Bringing Chalk to a SmartBoard Fight

Wyatt HnatiwOPINION WRITER

Why McGill’s technological obsolescence holds us back

Laura ThistleLEAD OPINION EDITOR

21The Bull & Bear - October 2013

everything in Underground Econo-my, bright spots of unconventional and imaginative learning do appear on the McGill curriculum. Those of us who have seen these teachers and experienced this small-scale inno-vation know that more can be done than that which is currently the standard.

So why is it taking so long for this potential to be recognized and cultivated? Well, only so much can be done without some drastic over-hauls. When it is a daily struggle even to get the old and outdated projectors to cooperate, professors have to make do with the limited tools they have at their disposal. When asked about this growing is-sue, political science Professor Mark Brawley commented, “We’ve got many more students than we can easily accommodate, given limited resources in terms of graders and TAs, as well as rooms. If techno-logical advances can help us serve more students without lowering the quality of teaching, then we should be harnessing them.”

Technological innovation is spreading across the world as a prin-cipal focus. In Europe, an EU-fund-ed project called iTEC (Innovative Technologies for Engaging Class-rooms) seeks to provide widespread change across European classrooms. iTEC is a project in which European Schoolnet works alongside educa-tion ministries, technology provid-ers, and research organizations to construct a long-term plan for the implementation of new technologies and learning strategies in the class-room. iTEC is essentially working to redefine the role of technology in the classroom.

The iTEC project began in 2010, and has already undergone a num-ber of cycles of design testing. With iTEC reaching out to over 1,000 classrooms to implement these new strategies and technologies, McGill is falling behind in the technological revolution.

In iTEC’s findings report from their first three cycles of testing, it is stated that 90 percent of teachers saw marked improvement in crea-tive and collaborative skills among

their students. In fact, 20 percent of teachers saw significantly increased student motivation. The report identifies such qualities as “21st cen-tury skills.” Are these not exactly the sorts of abilities which we, as one of the best postsecondary institutions in the world, should seek to harness and develop in students?

While iTEC is ambitiously storming ahead with new and in-ventive classroom strategies, McGill finds itself stuck in old practices, using outdated computers and 30-year-old curricula. If we want to maintain our elite global status, we need to follow iTEC’s lead and invest in some serious technological reforms to keep up.

The current student genera-tion has grown up in an age of technology. We have lived our lives with computers, cell phones, iP-ods, and a host of other new types of tech. These various tools inevita-bly become entrenched in the world around us, and businesses embrace them as a means of modernization. McGraw-Hill, for example, one of the most commonly used textbook publishers, has gone a step farther than simply creating online text-books: in January, the publishing company announced its SmartBook for college students.

The SmartBook, an online tool available for various devices, essen-tially acts as a virtual tutor. Using the data collected based on how the “tutors” adapt to students’ needs, McGraw-Hill can see where stu-dents struggle the most, and create a dialogue with the authors of the textbooks to suggest improvements. This dialogue allows for textbook authors to better adapt to address a student’s struggles and improve their results. If we used similar adaptive technology in the class-room, instructors would be able to better gauge which areas in the cur-riculum need more focus, and which lessons should be modified to better suit student’s learning styles.

McGill is supposed to be one of the best universities in the world. So why aren’t we pursuing these sorts of innovative projects? Why should we stick with what has be-

come an outdated norm, rather than embrace new possibilities and use technology to upgrade and improve our learning system? It is clear from the findings of iTEC that the use of new technology in the classroom can yield some fantastic results. We should embrace these opportunities for improvement, rather than re-main stuck in the past.

If we want to be competitive in a world which is increasingly reli-ant on technology, we must imple-ment this technology at the most fundamental level: the classroom. Without some technological inno-vation, lectures will continue to be dry, McGill’s academic system will become increasingly outdated, and our elitist image which the admin-istration works so hard to maintain will slowly but surely evaporate into thin air.

The worst thing we can do for a school like McGill is to claim that everything is perfect when it is in fact far from it. Unless some invest-ments are made in the improvement of classroom and facility resources across campus, we will no longer be able to truthfully take pride in the claim that we go to the best univer-sity in Canada. iTEC has demon-strated the power of technology in the classroom; substantial techno-logical improvements do not only allow for more inventive curricula, but also better enable students’ learning. However, if we stick with our ancient projectors and run-down facilities, McGill will soon fall behind in its ability to effectively educate its students.

With certain professors already trying to break away from the status quo of McGill lectures, just imagine how much more could be done with expanded technological resources. McGill must take advantage of new technologies to fuel progress in its academic approach; otherwise, like the projectors still being used in Leacock, McGill’s global prestige might become a thing of the past.

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

FEATURE

22

Majd SteitiehLIFESTYLE WRITER

If you decide to ignore Regina George’s advice about Girl World and boldly decide to actually look fierce and frightening for Halloween, then it’s all about making your hair look messy! While you could just not comb it for a few weeks prior to Hal-loween, the other (more civilized) way to go about it is by curl-ing your hair with a curling iron and then teasing your hair. What’s teasing? Well for starters, it’s not flirting with your hair, but rather giving your hair more volume by backcombing it. You’re basically creating knots in your hair by combing it down towards the scalp. How do you know when to stop? Whenever you feel your hair is wild enough. Spray some hairspray at the end to keep it all in place and go scare some people! This tech-nique also works for a lion or zombie look.

Guys, if you’re looking to drop jaws this Hair-oween then what better way to do that than pulling off the Wolverine look. All you have to do is spike your hair up and outwards with gel or wax, grow out some scruff, and maybe make some retractable claws if you’re feeling particularly crafty. To get your full Logan on, it may help to leave your shirt at home.

TGIF because now you can look like Katy Perry (or a ran-dom 80’s chick) easily. The first thing you need to do, as Karina explains, is tie your hair in as many little braids as you can while your hair is still wet and let it dry overnight. It’s important to do this the night before you don your 80s gear, to allow your hair to curl as much as possible. The morning of, untie your hair and start teasing it like it was explained in the Bewitched look. Pack on the glitter eye shadow, get your neon mini skirt ready, acces-sorize with some oversized earrings, and you’ll be ready to dance on tabletops or whatever it is you do on a Friday night.

Great costume: $80. Fake blood: $4.99. Avoiding the “What are you supposed to be again?” question: priceless. What

gets you that priceless moment? It’s all about the hair. Having your hair done right can really take your costume from “Hold on I’m pretty sure I know what you’re supposed to be… a penguin?” To “I totally know who you are, you’re Miley Cyrus at the VMAs!” And the best part is that the following hairstyles are inexpensive

and not difficult to achieve! I spoke to Karina Halàsz and Catia Corr; two hair stylists at

a prestigious hair salon in downtown Montreal, and they’ve re-vealed the secrets to having the best costume in town from head to toe (literally). In order to make this a little easier, we’ve split up the styles into some cheesy categories.

80’s Chic

Bewitched

Wolverine

Hair-oweenMaking your costume with what’s on your head

LIFESTYLE

PHOTOS VIA FLICKR

23The Bull & Bear - October 2013

Majd SteitiehLIFESTYLE WRITER

If you want to look glamorous this Halloween, but don’t want to break the bank, then the princess look is ideal. Ac-cording to Catia, the look is achieved with the “Chignon” or as most people would call it, “the high bun thing.” The way to do this at home is to part your hair completely down the center and pick a side for the chignon to rest on. Pull your hair to one side and create two ponytails, one in each hand. Tie your smoothed-down hair into a loose knot. Wrap one side around to the right and secure with bobby pins. Repeat the steps on the left side and hold it with a pin. Finish off with a medium-hold hairspray to keep it all together. This hairstyle will also work if you want to be a ballerina, but Black Swan is so 2011.

Queue the scary music for Count Dracula and his fangs. If you want to rock that look then start by combing your hair backwards and use lots and lots of gel. You want your hair to be essentially glued to your scalp. How do you know how much gel to use? Well, let’s just say when it starts dripping on your face, you almost have enough. To really seal the deal, draw a triangle on your forehead and use an eyeliner or eyebrow pen-cil to shade in the gaps till your hairline. Avoid a Sharpie un-less you’re going for a more permanent look.

Ever heard of Pippi Longstocking? Pippi is a friendly, but mischievous girl, who always gets herself in sticky situations. This cartoon character has gravity-defying, fiery red pigtails that stick out sideways from her head. You can achieve this look with a simple metal coat hanger. Reshape a metal coat hanger you have lying around, so that you make an arch where your head will rest and have the two arms extended on either side. Essentially you want to bend the hanger to look like a protractor. Once you place the hanger on your head, make a braid with your hair and wrap it around the hanger so that the hanger can support your sideways braids. To finish it off, spray your hair with some hairspray, slip on some mismatched thigh high socks (preferably striped), and go lift some horses with one hand.

Dire Vampire

Pretty Princess

Defying Gravity

No matter what you decide to be for Halloween, remember that your hair can really make or break your costume. Though you may be getting up to some tricks that night, having people appreciate your costume guar-antees you a treat!

LIFESTYLE

PHOTOS VIA FLICKR

24

As temperatures gradually drop and leaves begin to change hues, there’s a familiar buzz around campus as

students prepare for the all-too-familiar midterm grind. But not to worry, pump-kin spice season is here to nurse us all back into sanity. This fall food trend is back full force, with this year marking the 10th an-niversary of Starbuck’s ever so popular PSL (i.e. Pumpkin Spice Latte). McDon-alds seems to have also jumped on the bandwagon and will introduce their ver-sion of the PSL to Canada on October 21st and for only half the price!

Why so pumped for pumpkin? Stud-ies show that we associate their flavour with feelings of nostalgia, such as family memories and holidays, making it classic comfort food. With all its nutritional ben-efits, pumpkin trumps apple as the new fall favourite in more ways than one. One cup of squash provides 200 percent of your recommended daily dose of vitamin A, responsible in aiding vision. It’s also rich in the antioxidant beta-carotene (re-sulting in its orange complexion), which keeps skin wrinkle-free and plays a role in cancer prevention. And for those hop-ing to fit into their skimpy Halloween costumes, you’ll be pleased to know that the gourd is an incredible source of fibre at only 49 calories per cup. Meaning you’ll be full for longer and on fewer calories!

From study supplements to party

platters, pumpkin has a place on every-body’s table. With a little creativity, the uses for this friendly gourd are endless. To get you started, here are a few easy snacks to get you through your next study session.

Study Snacks

Cajun Spiced Pumpkin Seeds (via Allrecipes)Eat these on the run or to season your salad.

1 cup raw pumpkin seeds2 dashes Worcestershire sauce¾ tsp Cajun seasoning1 tbsp butter, meltedSalt to taste Preheat oven to 300 degrees. Toss

pumpkin seeds with Cajun seasoning and salt. Mix Worcestershire with melted but-ter in a small bowl. Pour over seeds. Stir to combine. Spread seeds onto baking sheet. Roast seeds until browned and crunchy (45 – 60 mins). Turn seeds several times during roasting.

Maple Pumpkin Spice Popcorn (via Family Fresh Cooking)The perfect balance of salty and sweet.

5 cups of popcorn2 tbsp brown sugar2 tbsp maple syrup1.5 tsp pumpkin pie spice

1 tbsp butter½ cup of pecans chopped (optional)

In a large saucepan heat brown sugar, maple syrup and pumpkin spice mix over medium heat. Cook, stirring until sugar is dissolved and mixture is bubbling (3 mins). Stir in butter until melted and blended. Add pecans and popcorn. Stir until well coated. Allow mixture to cool before serving or storing.

Pumpkin Banana Bread(via Allrecipes)A delicious breakfast option or afternoon treat.

2 ripe bananas, mashed2 eggs1/3 cup vegetable oil1 1/3 cups canned pumpkin puree1/2 cup honey1/2 cup white sugar2 1/2 cups all-purpose flour1 tsp baking powder1 tsp baking soda1/2 tsp salt2 tsp pumpkin pie spice1 tsp cinnamonRaisins, Walnuts and Chocolate

Chips all optional Preheat oven to 350 degrees. Grease a

9x5 inch loaf pan. In a large bowl, stir to-gether mashed bananas, eggs, oil, pump-

Pumpkin Spice

and

Everything Nice

Simple Seasonal Recipes from a Pumpkin Patriot Kate Nishida

LIFESTYLE WRITER

LIFESTYLE

25The Bull & Bear - October 2013

kin, honey and sugar. In a separate bowl, combine flour, baking powder, baking soda, salt, spice and cinnamon. Stir flour mixture into the banana one. Fold in rai-sins, walnuts or chocolate chips if desired. Pour batter into loaf pan.

Bake for 45 minutes (or until a tooth-pick inserted into the loaf comes out clean). Let cool for 10 minutes before serv-ing.

Party Provisions These tasty alcoholic beverages will

be the stars of your upcoming Halloween bash. For the less adventurous, make a trip to Montreal’s McAuslan Brewery & Ter-race, now offering its seasonal Pumpkin Ale.

Pumpkin Pie Shot(via Food.com)This quick and easy recipe is perfect to serve at your next pre-drink!

1/3 oz Kahlua1/3 oz Bailey’s Irish Crème1/3 oz GoldschlagerCinnamon

Pour the three types of alcohol into

a shot glass. Add a dash of cinnamon and voilà!

Pumpkintini(via Brit + Co)A festive take on the classic cocktail.

2 oz vanilla vodka2 oz crème de cacao¼ cup heavy cream1 cube ice1 tsp pumpkin pie spiceWhipped cream to garnish (optional) Don’t worry if you don’t have a cock-

tail shaker! Mix vodka, crème de cacao, heavy cream and pumpkin pie spice to-gether with a large spoon. Dip rims of martini glasses into whipped cream and serve immediately.

Spiked Pumpkin Spice Latte(via Inspired Taste)For the non-alcoholic version, just skip the dark rum and coffee liqueur!

1 cup milk3 tbsp canned pumpkin

1-2 tbsp sugar1 tsp vanilla extract¼ tsp pumpkin pie spice½ cup black coffee1 oz dark rum1 oz coffee liqueur (Bailey’s, Kahlua,

etc.) In a saucepan heat milk, pumpkin

and sugar over medium heat, stirring until mixture is steaming. Remove from heat. Stir in vanilla, spice, coffee, dark rum and coffee liqueur and whisk the mixture un-til well blended. Pour into your mug and enjoy!

Gone are the days when pumpkins were restricted to front porches; it is cur-rently the most coveted ingredient in North America. Their flavour can be easily incorporated into every meal (and drink) of the day, from salad toppings to your morning cup of coffee. Spice up your Oc-tober in celebration of this fun fall favour-ite and praise the pumpkin!

McAuslan Brewery & Terrace: 5080 St. Ambroise.

LIFESTYLE

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26

For those of us who prefer transport-ing themselves on wheels rather than legs, biking is the way to go.

While most of us know how to ride a bike, bike maintenance is an often overlooked aspect of the experience. For most of us, a broken spoke would mean a long walk to the nearest bike shop. Fortunately, however, there is a bike shop right inside the SSMU building. The devoted garage gurus of McGill have practiced the art of bicycle maintenance, and are here to pass along their knowledge to the main-tenance neophytes.

The Flat Bike Collective is a volun-teer-operated, open space workshop for bike repairs. From the Flats own man-date: “The Flat is a collective that works to encourage cycling through the sharing of knowledge and tools.” Besides being open Monday, Tuesday, and Thursday from 5:00 pm to 7:30 pm for workshop use, The Flat also boasts workshops on topics such as, brakes, flats, wheels and even “winterizing your bike.” For those who have no idea what differences exist

between bikes and how to find the best bike for you, the Flat has a section on their website entirely dedicated to the ins and outs of buying a used ride.

So what does this mean for the McGill biking populace? For one, it is the free exchange of practical knowledge; the garage guru can teach the bike enthu-siast, who can teach the wannabe racer, and vice versa. While this is not a brand new concept, it is innovative in how it brings bikers of all styles together to learn. Through group learning, the Flat gives back to the campus cycling commu-nity. It also saves cyclists a fair amount of cash on repairs. The last time I popped my tire tube, I shelled out $6 for a new one and it would have cost me another $20 to have a trained employee to put it in. Luckily for me, the Flat had the tools I needed plus a helping hand. It may have taken me much longer than an expert, but afterwards it felt great to save $20 and learn how to fix my own tire tubes.

The Flat bike collective is a great on-campus resource but it’s not the only

good-to-know tip vis-a-vis cycling in the city. It is crucial to know the cycling rules of the road. The very basics of cycling are that you must act as if you were a motor vehicle. That means you must obey traffic lights, signs, crosswalks, and the general road rules. There are, however, a few sur-prising rules you may not know. For ex-ample, you cannot ride with your iPhone plugged into your ears. It might be fun to blast techno while you rip down Park Av-enue, but that could end up costing you a $52 ticket and points off your license. You must also have a headlight on at night and several reflectors attached to your bike. For more information on bike rules check out Montréal’s traffic law website at http://www.spvm.qc.ca/en/securite-routiere/cyclistes-regles-circulation.asp

Now you have nothing to worry about. You won’t crash front wheel first into a Beamer making a left turn on Peel and DeMaisonneuve, and, even if you do, you’ll know how to put your treasured Peugeot back together again.

The Flat Bike Collective: an innovation resource for campus cyclists

Charlie HarknessLIFESTYLE WRITER

PHOTO VIA FLICKR

DIFFERENT SPOKES

FOR DIFFERENT

FOLKS

LIFESTYLE

27The Bull & Bear - October 2013

How many management students does it take to screw in a light bulb?

Two–one to screw it in, and another to push down the ladder. You can always tell a management student when you meet one: the firm handshake, the self-assured grin, and the undeniably com-petitive vibe, or so the stereotype goes. But hey, it’s not our fault. The practice of curving grades has injected an ambitious, cutthroat nature into our blood, fueling a permeating dog-eat-dog atmosphere within Bronfman High. Curving aims to prevent issues like class-to-class grading discrepancies and grade inflation, while replicating the Darwinian nature of the business environment. However, the curve is just an indictment of the under-lying grading issues within Desautels, not a solution. Curving creates its own set of problems, and might not be as fair as the Administration or professors would like you to think.

In the Desautels faculty, professors are required to keep a class average be-tween 65-74.99 percent, creating a zero-sum game for the distribution of points within each class. In other words, no one can help you get a better grade without increasing his or her own risk of being curved down. If the class average ends up too high, everyone’s raw score gets a shearing.

Using the curve as a way to adjust grades is kind of like prescribing Tylenol to a patient with a brain tumor: it tem-porarily relieves the symptoms, but com-pletely overlooks the underlying lethal diagnosis. For instance, the 2012 fall ac-

counting midterm had an average hover-ing about 50 percent, whereas the winter midterm from the same year had an aver-age around 75 percent. Even though the grades were bumped up for the fall class, the 25 percent difference raises the ques-tion of why there was such a large differ-ence, not just how to make up for it. The point of the curve is to equalize grade var-iations from professor to professor and from year to year. However, this ignores the cause of the grade variations, such as varying difficulty levels of different sec-tions of the same course.

If grades are going to be curved, the process should at least be transparent. Depending on the openness of the profes-sor, you can be left in the dark about how your grades were adjusted, making the answer to a simple question unnecessar-ily inaccessible. This ambiguity helps per-petuate the common misconception that there is only one, uniform type of curve. Open your eyes and you’ll find that the world of curves is inhabited by a plethora of different creatures. Familiar functions like linear and root are the dominant species, but abstract algorithms also roam about. Since each type of curve has its own merits and demerits, students should be able to know and question the type of curve, formula or function, that the professor used.

Dig deeper and you will find that certain curves are more insidious. Many curves, such as bell and exponential curves, adjust so that higher grades are curved down more than average grades. In other words, they help the bottom stu-dents by taking away from the top. The

education system should be the quintes-sential example of a pure meritocracy in our world: your performance depends completely on how hard you work and study. There is no need for such redistri-bution. If grades are to be adjusted, then the average should be adjusted equally for everyone. The ideal curve would be a flat scale, where everyone’s grade is scaled by the same absolute amount. We all wrote the same assessments, right?

This also brings up the issue of grade deflation. Why should a student receive a ‘B’ even though they outperformed ‘A’ stu-dents from other semesters, merely be-cause he or she took the class with an un-fortunately high amount of overachieving students? The quality of each class of stu-dents fluctuates, especially given the rela-tively small class sizes in management, and grading policies should account for these statistical anomalies.

By no means should the mandated curve, the iconic symbol that separates Desautels from other faculties, be abol-ished without further consideration. However, it needs to be scrutinized and reformed to ensure it achieves what it wishes to achieve –an equal and com-petitive playing field. As midterms roll around, I can only hope that if you earn your grade, you get to keep it as well.

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

The Curious Case of the Inequitable Curve

Looking underneath the band-aid fix of Desautels’ grading curve Christie WeiOPINION WRITER

OPINION

28

Sustainability is all the rage. At long last, citizens are insisting on a moral standard for the

products they consume and the services they use. We’ve seen the light and have been transformed into good Samaritans. So naturally, corporations should cross over too. However, in the land of egregious exploitation and economic enterprises – more commonly

referred to as the corporate world – the ultimate goal of corporations is profit-maximization. Ruthless business leaders will stop at nothing to accumulate endless piles of dollar bills.

Nonetheless, demand drives profits. Corporations must therefore satisfy every whim of the modern-day consumer to achieve their aim. Hence the emergence of Corporate

Social Responsibility (CSR), a phenomenon that supposedly imparts upon corporations a moral conscience. CSR can encompass a myriad of initiatives such as equity in wages, reduced carbon footprints, fair trade products, and philanthropic actions.

With the notion of social responsibility gaining steam among corporations, firms have been

How Corporate Social Responsibility is Socially Irresponsible

Sophia SunderjiOPINION WRITER

A Moral Compass Made of Money

$

$

$

$

29The Bull & Bear - October 2013

OPINION

obliged to jump on the bandwagon—ever the fuel-efficient choice—or else go home (quite often to their multi-million dollar mansions). And so began the infiltration of CSR, slowly extending its tenacious grip on everything in the realm of corporate capitalism, from baby enterprises to Wall Street giants.

CSR has since become a tool leveraged by corporations to rake in the dough. Is this a bad thing? Not always. In fact, it has at times led to creative innovation. Five years ago, a man by the name of Tyler

Elm was hired at Canadian Tire by pointing out that the company could profit from being environmentally friendly–simply reducing excessive packaging could decrease Canadian Tire’s waste while simultaneously lowering shipping costs. Today, he’s the Vice-President of Corporate Strategy and Business Sustainability.

Elm’s proposal led to a 15 percent cost reduction in Canadian Tire’s shipments. You can bet your bottom dollar this idea would not have been endorsed if cost savings were not part of the package. This leads us to the question, has CSR converted greedy corporations into beacons of morality? Quite the contrary.

Take IKEA as an example. Similar to the layout of their stores, IKEA’s sustainability strategies are a meandering labyrinth full of false hope and manipulative schemes, intended to render an innocent soul disoriented and more prone to buying on impulse. In the past, IKEA has blatantly exploited child labourers in China in order to produce cheap products quickly. On the other hand, the company markets itself as an ethical company, promoting its “triple bottom line” approach

by funding social projects in developing nations. Shall we ignore the injustices of child labour due to IKEA’s charitable contributions? IKEA’s image of sustainability is as confusing and contradictory as their instruction manuals.

As IKEA has illustrated, the concept of the ‘triple bottom line’ – environmental, social, and economic impact – is too often used as a marketing ploy. The sole bottom line is economic: profit. The other not-so-bottom lines are means to an end, used to increase profits.

By creating an illusion of morally sound and green practises, CSR has been reduced to a branding strategy, (ab)used by many corporations to maximize their revenues.

However, can we blame corporations for employing these strategies? Companies are motivated by money. It is therefore logical to link profitability with sustainability. Perhaps it’s our job, as consumers, to insist that the corporate world dons a white hat. We’ve pushed for CSR, but it’s faulty, at best. We still live behind this veil of ignorance, a veil fabricated by corporations and marketers. With each product we buy, we are making a conscious choice and perpetuating the cycle of unethical behaviour. We, too, are guilty. Forget CSR, perhaps Individual Social Responsibility or ISR should exist. Ethical behaviour should be embedded in humanity, not an afterthought added to a corporation in the form of a CSR department.

This notion is not limited to the inner workings of the business world. It is seen within the very walls of the McGill community. In the Desautels Faculty of Management,

Social Context of Business is a mandatory course for the suited-up students of McGill, a class that sheds light on the unethical practices of businesses. But even the existence of such a course reflects a significant flaw in the curriculum. If CSR is of the utmost importance, shouldn’t all of McGill’s Management courses emphasize sustainability as a core goal, instead of merely profit-maximization?

As student consumers, we are settling for less. We are taught to be critical thinkers and agents of

change. However, we fail to question the blatantly erroneous facts due to our ignorance, or perhaps our mere apathy. With our daily dosage of Apple products, it’s all too easy to hide behind our MacBook Pros and iPhones, without realizing that the injustice is glaring us right in the face. The revered brainchild of the late Steve Jobs, Apple, explicitly prohibits violations to the basic human rights of its workers, stating they should be treated with both “dignity and respect.” Yet, Apple’s labourers in China are still slaving away in inhumane conditions, with work often stretching to fourteen hours a day.

Whether it’s through unabashed lies or creative scheming, corporations lack sincerity in their actions. The illusions need to end. Companies will continue to inflict their semblance of corporate virtue onto us under the pretence of moral action. As consumers, we hold the key to action. So the real question is what are we going to do about it?

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

IKEA’s sustainability strategies are a meandering labyrinth full of false

hope and manipulative schemes.

“ “

30

There are a lot of things to like about being American: the opportunity, the cities, the

ingenuity and—let’s not forget—the sports. And yet, as an American, I’m here now, at a Canadian university, in a largely francophone city. Clear-ly, I’m no staunch patriot, but I’m still an American. Today, however, I wish I wasn’t.

On Tuesday, October 1st, Con-gress failed to agree on a spending resolution that would extend the funding of U.S. government projects and services. Without this agree-ment, the spending resolution died and funding ceased. Without fund-ing, the U.S. began shutting down parts of its operations. Major agen-cies like the Federal Communica-tions Commission (FCC), the Inter-nal Revenue Service (IRS) and the National Aeronautics and Space Administration (NASA) have fur-loughed the majority of their staff.

Just like that, hundreds of thou-sands of federal workers, deemed “non-essential”, were placed on tem-porary unpaid leave while govern-ment services grinded to a halt.

First, it’s important to see this shutdown in the larger context. Right now the United States has what many would call a “Do-Noth-ing Congress”: Republicans and Democrats can’t agree on anything. In this specific spending resolu-tion, budgetary details of the 2010 Affordable Care Act (affectionately known as Obamacare) could not be agreed upon before the old resolu-tion expired and, voilà, no deal. The big red button was pressed: com-mence government shutdown.

This bears huge economic con-sequences. “Economists at Morgan Stanley estimate that every week of a shutdown would shave 0.15 per-centage points from the quarterly pace of gross domestic product,”

reads a report from the Wall Street Journal. Put in context, this rep-resents $22 billion in lost growth every week. This means the govern-ment shutdown has real economic impact: lost jobs, postponed invest-ments, distressed markets.

As an American, this is extreme-ly embarrassing. My government turned off the faucet on GDP growth after an unnecessary political game of chicken. Real people are being af-fected because both parties are too stubborn to compromise.

Sadly, a temporary government shutdown is the best case scenario. Federal workers take a few days off, and once Washington has sorted out its problems they go back to work. Dozens of federal services stop or slow down and life is inconvenient for everyone, but will return to nor-mal after the end of this impasse, as happened under Bill Clinton in 1996.

How Congress Killed My American PrideAlex PetraliaOPINION EDITOR

Ashamed To Be An American

OPINION

31The Bull & Bear - October 2013

The worst case scenario occurs if the government does not raise the debt ceiling by October 17th. Even with drastic spending cuts, the gov-ernment will likely default. As the de facto global reserve currency and one of few remaining risk-free assets, financial markets depend on the integrity of the greenback. Should it become a risky asset, in-terest rates will soar and markets

will freeze. If the the collapse of Lehman Brothers in 2008 sent the economy into tailspin, just imagine what a default of the U.S. govern-ment would do.

So not only is a government shutdown pretty bad in and of itself, but even the possibility of a govern-ment default is tantamount to the apocalypse. There must be a good reason for how America got so close

to the edge, right?The U.S. debt ceiling is a per-

ennial problem because the U.S. al-ways has to borrow money, at very least just to pay back its own old debt, but also to fund programs like Medicare and Social Security.

Notably, the vast majority of economists think a debt ceiling makes no sense. Which probably explains why no other country (be-sides Denmark) has one. Naturally, as is the American way, we have one. But we’re stuck with it, like it or not, and right now, we’re awfully close to defaulting because of it.

As has been the case nearly eve-ry year for the past decade, Congress could always just raise the debt ceil-ing again. But this time, politics dominate and some very hardline Tea Party representatives in the House refuse to raise it.

This is beyond jaw-dropping. Washington is toying with the fate of the world because they can’t agree once more on raising a cap that shouldn’t exist in the first place? This is jaw-snapping.

How could a country so genu-inely revered for its ascent be so genuinely asinine in its potential fall?

The livelihoods of millions of people depend on the smooth func-tioning of the economy and finan-cial markets—it is not worth a game of political chicken nor should it even be considered in the first place. “We don’t negotiate with terrorists,” doesn’t apply when the entire coun-try is held hostage.

The United States has the world’s largest economy, most in-novative technology sector and most popular media. But America also lays claim to the financial system that drove the world economy into the ground and, as proven this week, a political system that can’t even agree on which colour to decorate a cake.

The views expressed in this opinion piece are the author’s own and do not necessarily represent those of The Bull & Bear.

OPINION

ILLUSTRATION BY JENNY KIM

US Government ShutdownDemocrats stop pronouncing “Boehner” correctly in retaliation.

iOS 7Motion sickness? There’s an app for that.

MidtermsWait, I was supposed to be learning something?

Death of a Simpsons CharacterIt’s probably going to be Moe.

The Great Wall of BieberWe beliebe that he’s a wiener.

Hockey’s Back“This’ll be the year” - Leafs fans

iOS 7It’s, like, sewwww pretty!

Grand Theft Auto 5 Kill your midterms or kill some cops?

The choice is harder than you’d think.

Halloween This year’s hot costume: We’d say a slutty

Miley, but she beat us to it.

Pumpkin spice everythingNothing says “hot” like McDonald’s and Starbucks duking it out over Pumpkin

Spice Lattes.

Hot NotOur guide to your next opinionated conversation

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