Ford government's changes to children's aid societies miss what actually needs fixing, critics charge
Proposed changes by the Ford government to bring new controls over the province's children aid societies focus too much on finances and not enough on kids' wellbeing, critics charge.
The legislation, announced in late May as part of the sweeping Supporting Children and Students Act, would give the province greater financial oversight of children's aid societies, as well as require increased transparency over how the organizations operate.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Toronto Star
a day ago
- Toronto Star
The Rob Ford Netflix documentary is extra surreal for me. Because I'm in it
Many Torontonians are, thanks to a new Netflix documentary, reliving Rob Ford's wildly chaotic, world-headline-making years as the city's mayor and chief magistrate. Watching ' Trainwreck: Mayor of Mayhem,' was extra surreal for me because I'm in it, among three reporters, three former mayoral staffers and two city councillors whose recollections narrate Ford's unlikely election, early mayoral success, crack-fuelled scandal and untimely death.
Globe and Mail
a day ago
- Globe and Mail
Better EV Stock: Ford vs. Tesla
-The comparison between Ford (NYSE: F) and Tesla (NASDAQ: TSLA) is valuable and valid because it speaks to where the auto industry is headed and highlights the relative position of each company as it moves toward electric vehicles and robotaxis. Whether it's a legacy automaker (Ford) or a dedicated battery electric vehicle company(Tesla), the key opportunities and challenges are the same. So, which company is better placed to thrive in the future? Affordable electric vehicles and robotaxis Tesla's launch of its full-self-driving (FSD) robotaxi is sometimes seen as a tactical move as its electric vehicle (EV) sales and market share come under pressure in 2025, but nothing could be further from the truth. The reality is that major automakers, including Ford, and leading technology companies have invested billions in robotaxis and autonomous driving, and it's an integral part of the future of the auto industry. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Continue » The reason behind the investment is a recognition that robotaxis have huge profit potential, not least because they offer a long stream of recurring income from ride-per-mile revenue. Another reality is that EVs are not cheap, and if they are the future of the auto industry, automakers need to make them more affordable. They also need to offer robotaxis to make mobility more affordable. However, don't take my word for it. Here's Ford's CEO Jim Farley in 2019 on autonomous driving and robotaxis: "The self-driving system is incredibly important to develop, but it's just one part of building a safe and scalable self-driving service that consumers can trust." Farley went on to outline a timeline for a "commercial self-driving service" in 2021, which Ford would fail to achieve. As for affordable EVs, last year, Farley reiterated the need to offer smaller and more affordable EVs to achieve profitability as an EV maker. The two things are strongly connected. You can't have robotaxi EVs if the vehicles aren't affordable. That's a point that resonated during a recent CNBC interview with Waymo, which has a robotaxi service already in place, yet co-CEO Tekedra Mawakana declined to outline a timeline for the company's profitability. Waymo's lack of profitability means its owner, Alphabet, is going to have to invest significant sums, at a loss, if it wants Waymo to build scale. That creates a huge opportunity for a company like Tesla that is just entering the market and potentially offers a much more commercial and scalable service. Tesla's advantage in scaling robotaxis lies in its ability to transform existing Tesla vehicles into robotaxis, as well as its capability to produce a dedicated robotaxi, the Cybercab. Unlike Waymo, Tesla doesn't need to partner with automakers to build scale. Moreover, Musk has disclosed that Tesla has been in discussions about licensing its FSD to other automakers -- another route to long-term profitability. Affordable EVs I'll cut to the chase. If Tesla can make automated driving and robotaxis work, then there's only one winner here, and it's Tesla. First, Ford is a long way from having a profitable EV business. For example, its Model E segment lost $5.1 billion in 2024, and then $849 million in the first quarter of 2025. Ford sold 22,550 EVs in the first quarter, implying it lost almost $38,000 on every EV sold. Moreover, its EV models, the Mustang Mach-E, the F-150 Lightning, and the E-Transit, are far from being affordable EVs. In contrast, Tesla generated $7.1 billion in operating profit in 2024. Despite losing market share amid declining sales, it still dominated the U.S. market, holding 43.5% of the market in the first quarter of 2025. Ford was a distant second with 7.7%. Both Ford and Tesla are planning to release low-cost models in the future, but given Ford's ongoing losses, Tesla's profitability, and its ability to lower its average cost per car, down from above $38,000 in early 2023 to below $35,000 in late 2024, the latter looks far better positioned to do so sustainably. Robotaxis and FSD Ford backed off its robotaxi/FSD plans in 2022, following the shutdown of Argo AI by Ford and Volkswagen after years of heavy investment. The company had been created to develop the technology and received billions of dollars in investment from Ford and Volkswagen. For reference, General Motors has also ended robotaxi development. In contrast, Tesla is preparing for the official launch of its unsupervised FSD/robotaxi service in Austin, Texas, this month, and it may be live by the time you read this article. While the launch will be small and highly contained, it still marks the birth of Tesla's robotaxi offering. Musk believes Tesla will have a dedicated, low-cost robotaxi, the Cybercab, in volume production by 2026. Indeed, Ford may end up licensing FSD from Tesla, and to his great credit, Farley has indicated an openness to partnering on FSD. Ford or Tesla? There is no guarantee that Tesla's robotaxi or FSD will be successful, and investors need to closely monitor events. Moreover, Musk has a history of being overly optimistic on such matters. That said, the major automakers have been and are still pursuing the idea of lower-cost EVs and robotaxis and automated driving, and currently, Tesla remains the best-positioned company to meet those aims. It's where the industry wants to be, and Tesla is in pole position. Where to invest $1,000 right now When our analyst team has a stock tip, it can pay to listen. After all, Stock Advisor's total average return is 994%* — a market-crushing outperformance compared to 172% for the S&P 500. They just revealed what they believe are the 10 best stocks for investors to buy right now, available when you join Stock Advisor. See the stocks » *Stock Advisor returns as of June 9, 2025
Globe and Mail
2 days ago
- Globe and Mail
Can Ford's US Muscle Shield It From the Tariff Crossfire?
Ford Motor Company F is anticipating pressure built from tariffs in the upcoming periods. The industry-wide supply chain is yet to wholly grasp the impact of tariffs on production, changes in the implementation of tariffs and retaliatory tariffs. In this context, Ford announced its prediction of a net adverse adjusted EBIT impact of about $1.5 billion for 2025. It logged $1 billion adjusted EBIT in the first quarter of 2025, but due to prevailing instability in the industry, guidance has been withdrawn. Although there remains uncertainty, Ford, being one of the largest auto manufacturers in the United States, might expect certain advantages. Ford, compared with its competitors, built 300,000 more vehicles in the United States last year. This provides the company with a competitive edge. Its peers will face difficulties in increasing manufacturing capacity in the country, as that would entail huge costs, compromising affordability. Ford's 80% parts in use are already USMCA trade rules compliant. The company seeks other ways to build more parts locally. It has also implemented smart changes to tackle impacts. Ford now ships vehicles from Mexico to Canada using bonded carriers, which avoids U.S. tariffs. A similar strategy is also followed for auto parts that only travel through the United States. Ford seems confident as it has been building more in America since 2020, investing $50 billion to grow vehicle and battery production. Peer Comparison General Motors Company ( GM ), an auto giant of America, has predicted declines in profit this financial year. It imported the highest number of cars into the United States in the last year. General Motors lowered guidance owing to an estimated $4 million to $5 million exposure to the impacts of auto tariffs. However, a mitigation of 30% of cost increases due to tariffs can be expected through General Motors' tailored initiatives. Stellantis N.V. ( STLA ), another multinational automaker, is also suspending its guidance for fiscal 2026 amid tariff-related challenges. Stellantis has plans to reassess its capital spending strategies. The company has also brought down its vehicle imports in April in response to tariffs. Stellantis, along with other giants, is working with the government to soften the auto tariff woes. The Zacks Rundown for Ford Shares of Ford have lost around 5.1% over the past year against the industry 's growth of 20.8%. Image Source: Zacks Investment Research From a valuation standpoint, F trades at a forward price-to-sales ratio of 0.26, below the industry average. It carries a Value Score of A. Take a look at how Ford's EPS estimates have been revised over the past 30 days. Ford currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Zacks Names #1 Semiconductor Stock It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom. With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028. See This Stock Now for Free >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Ford Motor Company (F): Free Stock Analysis Report General Motors Company (GM): Free Stock Analysis Report Stellantis N.V. (STLA): Free Stock Analysis Report
