TD Bank in the Northeastern USA (including New York)

[deerparker]

Canada, as long as they can balance the books, employment laws/regulations, tax levels, and continue to pump out an educated workforce, is looking strong.

Hasn't Tim Horton's always been a Canadian company?

It became a subsidiary of Wendy's in the mid-1990s, but was reincorporated as a publicly listed Canadian company this year.

 

[Skeezix]

It became a subsidiary of Wendy's in the mid-1990s, but was reincorporated as a publicly listed Canadian company this year.

It of course begs the question of what constitutes a Canadian company. I have always thought that it is not as simple as ownership or place of incorporation, and that one should look at a number of indicia. For a while there, Seagrams (run out of New York with most of its holdings outside Canada) was technically considered a Canadian company (it maintained a tiny & historic head office in Montreal), while Tim Hortons, owned by an American corp. and incorporated in Delaware, but run out of Oakville and with the vast majority of its outlets in Canada, was not considered Canadian.

For that reason, I have always considered the "Tim Hortons is Canadian again" stories a bit overblown.

 

[Blues]

Canada's big banks top expectations:

http://www.google.com/hostednews/ap/article/ALeqM5hEmES_h7ET5igiOZpVO8MUStAS8gD9AC5AGG0

 

[lordmandeep]

Lol, you ask some people and they say the only reason the banks are profitable now is because of all those fees.



lol

 

[Blues]

Lol, you ask some people and they say the only reason the banks are profitable now is because of all those fees.



lol

Banks can't win no matter what they do.

How many employees do these banks employee at Bay Street/Toronto. Any idea of what the economic impact they have on Toronto?

 

[lordmandeep]

without the banks Toronto would be Buffalo..

Well a city without a strong core (economic core) really can't support arts and culture then right??

 

[simply Dan]

I think without the banks Toronto would turn into something like Montreal... certainly not Buffalo. Montreal had all of the bank headquarters at one time.

 

[lordmandeep]

well yeah Buffalo is a bit to much

However I think a city with a strong business and economic core can more easily support more arts and culture like New York.

 

[Torontovibe]

without the banks Toronto would be Buffalo..

Well a city without a strong core (economic core) really can't support arts and culture then right??

Hey, in Buffalo, you can buy a 4 bedrrom house for $20,000, so that wouldn't be too bad, would it?

 

[syn]

^Or you could go to Detroit and get one for free .

 

[devjohnson]

i love TD. it looks so professional. i have never sat in one of the green chairs before though lol

 

[afransen]

I prefer no fees!

 

[Blues]

Hey, in Buffalo, you can buy a 4 bedrrom house for $20,000, so that wouldn't be too bad, would it?

If you don't mind living in a bad area (and the house is usually crappy).

 

[highlife]

Financial Services employ about 250,000 people in the Toronto Area. Each of the big six Canadian banks employ tens of thousands of people across the country . I think RBC has over 80k employees alone.

Retail banking has been the big banks bread and butter. Investment Banking is glamourous and has high growth potential, but Canadian banks are no where on the global investment banking league tables.

CIBC tried to increase their investment banking business but it blew up in their face with a final blow from the credit crunch in 2008. RBC, TD were more conservative and focused on solidifying their branch network resulting in stable earnings.

Expanding into the States is a huge gamble and RBC is haven't the greatest success when they acquired branches inthe Carolinas. hopefully, this should not deter future expansion. I would love to see TD, Scotia or RBC becoming a global brand one day.

On another note, I heard through the grapevine that KPMG has moved certain fuctions from Amsterdam to Toronto (eventually moving into Bay-Adelaide) due to improved cost savings and access to Toronto's talent.

 

[golodhendil]

Even better if they go Euro and Asian as well. And who knows, just like HSBC they might wind up adorning modern monuments of architecture along the way...

Not exactly an architectural monument, but Boston's arena is now called "TD Garden" (used to be TD Banknorth Garden before TD simplified the name of its American operations):