The Bull & Bear: April 2014 issue

B

McGill Year in Review Redefining Feminism Understanding Islamic Finance Surviving Final Destination McGill

THE BULL & BEAR

The Sweet Escape

April 2014 Issue 008 Vol. 12 bullandbearmcgill.com

A publication of the

Editor's Note

NEWS 4 Fokus Film Festival 6 Team Before Machine: McGill Robotics 8 Talking Reddit with Alex Ohanian

LIFESTYLE

10 Final Destination McGill Survival Guide 12 The Frugal Traveler’s Guide 14 Procrastinating Productively

FEATURE 16 McGill Year in Review 18 Spotlight on Montreal Architecture 20 This Year’s Top Business Stories

BUSINESS 22 The Carbon Emissions Debate 24 Islamic Finance 101

OPINION 26 Voter Suppression, the Conservative Way 28 Where Are All Our Graduates Going?

29 #Selfie-pocalypse 30 Redefining Feminism Cover Design by Joyce Siu

2

Marisa Samek, Lifestyle Editor

H

oards of students gnawing at their nails, going Facebook AWOL, and gulping down java, signals the end of the semester. School is on its way out and summer, on its way in. It’s hard to see it beyond the piles of papers, sea of deadlines, and abyss of examinations, but this month’s issue reassures you that yes, it’s the end. For some, “the end” means a few months of recuperation before being thrown back into the McGill shark tank. For others, it means time to get out of the McGhetto and into the “real world.”

This final issue of the year offers a perspective on 2013-2014 and escaping into summer. You’ll find a descriptive timeline of the big events that took place this year, helpful tips for your summer plans, and personal thoughts on what we actually learn in university. We know that stress levels are high, so this issue is especially delightful.

For several graduating members of our team, this is the last issue of The Bull & Bear; a final hurrah from the stuffy, cramped office in the Bronfman basement to bring you reliable, relevant, and rousing information. In this space for my own brief reflection on my time with The Bull & Bear, I want to give a shout out to all the contributors: all writers, my beloved co-editors, the hip Layout team, Media and Web gurus, the MUS, and our fearless chieftain Tarun Koshy. Despite a few hiccups, we ended this year strong with a sweet new website, a sly Chipotle McGill prank and, most importantly, a solid team spirit. It was a privilege to get to know such passionate, intelligent, and authentic individuals.

The Bull & Bear taught me what’s really important. In the context of stressful finals, a “B” instead of an “A” blurs into the periphery while in the long run and the university experience condenses into the select people who changed you.

Here’s to summer, here’s to future plans, and here’s to The Bull & Bear, a magazine that will continue to inform opinions, excite interest, and incite change.

The Bull & Bear is published by the Management Undergraduate Society.

The content of this publication is the responsibility of the Management Undergraduate Society and does not necessarily represent the views of McGill University.

Briefs Your guide to events around campus Last Day of Classes April 11th A day of excitement for some and dread for others.

Exams April 14th to 29th

Heres...EXAMS!

On the bright side, It looks like you won’t have good weather to distract you from studying this year.

Passover April 14th to 22nd Who needs bread during these eight days?

Staff Tarun Koshy Executive Editor

Marisa Samek Lifestyle Editor

William Werblow Sijia Ye Chief Layout Editors

Jonathan Craske Lead Business Editor

Alain Kasparian Nat Carson Media Editors Dafe Oputu Lead News Editor Shannon Epstein Tess Wrobleski News Editors April Wu Lead Lifestyle Editor

Stéphanie Thomas Lead Opinion Editor Alex Petralia Opinion Editor Flora Bertin Anthony Heinrich Hayley Lim Michelle Paspe Layout Editors Henry Fuz-Keeve Lead Web Editor

Easter April 20th This year there are two good reasons to gorge on chocolate on this day.

Tree Appreciation Day April 20th

Build a Future with United Rentals United Rentals is committed to being a great place to work, where employees enjoy competitive pay & benefits, extensive training and development, opportunities for growth, and recognition for a job well done.

- World’s largest equipment rental company (Fortune 1000) - 830+ locations throughout North America

This day has nothing to do with trees 800.UR.RENTS UnitedRentals.com/careers

BEST PEOPLE

BEST EQUIPMENT

BEST SOLUTIONS

With proven expertise across commercial and industrial businesses

The largest, most versatile fleet of well-maintained equipment in the industry

Unparalleled technology and fleet management systems that are changing the way business is done

© 2013 United Rentals, Inc.

Via Fokus Film

News

TVM’s annual event presents and inspires Emilie Cornelis, News Writer

O

n Friday, March 21st, a young crowd of film enthusiasts gathered in Cinema du Parc, bringing energy to the sometimes slumberous venue. The occasion was the screening of the 2014 Fokus Film Festival, an annual event hosted by TVM Student Television (TVM).

The ‘Fokus’ of the Festival was student film: from 6:30 PM to 9:00 PM, the audience was presented a range of original student pieces. Films were divided into categories of Fiction, Experimental and Documentary. Brave participants could also take part in the ‘72 Hour’ Category; students registered in this category were required to create their submission in just 72 hours.

The Festival also has a competitive element, with prizes to win in each category. Arthur Tarnowski, Jesse Hunter, Mira Burt-Wintonick and Richard Comeau, all of whom have considerable knowledge and experience in the film industry, were invited to the festival to judge the films. Judges also selected a film to be ‘Best of the Fest’; the team honored with this title was presented with a $300 H4n Sound Recorder.

Africa’s Festival Although the festival adheres to the same general format each year, some aspects of the festival change depending on the vision of its organizer. This year, Chantal Africa, VP External of TVM, took the reigns. Under her leadership, the team recruited professionals in the film industry to act as judges instead of using mostly professors as in previous years. Amy Kim, President of TVM and organizer of the Film Festival two years ago, applauded Africa’s work this year, stating, “She is phe-

4

Via TVM McGill

nomenal. She did an amazing job this year with Fokus.”

Africa’s theme for this year’s Festival was “Silence Please,” exploring the arrival of sound film, and its impact on the audience’s viewing experience.

For some teams, the theme was clearly a source of inspiration; JG Debray opted for a silent-era feel in his Valentine’s Day (Winner of Best of Fiction), using muted speech and filming in black and white. However, the filmmakers were not required to incorporate the theme explicitly; some chose instead to focus on experimenting with different shot types. For example, Luke Orlando and Cedric Yarish’s Far Too Awake explored the feeling of exhaustion through only using close ups and wide-angled shots, winning an Honourable Mention in the Experimental Category.

The 72 Hour Category had its own theme, “Heartbeat.” Interpretations of this theme ranged from traditional love story narratives, to near-death experiences, and even to ironic comedy (as was the case with Alexan-

News der Cherney’s Chuck, winner of People’s Choice). Kim was enthusiastic about the variety of interpretations among the films, stating, “everyone took a different take on it […] I find it very inspiring to see the creativity everyone has.”

Quality and Quantity The popularity of the Fokus festival continues to grow each year. In addressing the audience before the screening, Africa commented that TVM had received more film submissions this year than ever before. Kim also noted that, due to the large number of submissions received (particularly for the 72 hour film category), some teams had to be turned away. “But we chose the best, as well as a good variety of teams, to make sure that the audience got a good look at what kind of different content these people can produce.,” added Kim. Having been a TVM executive for 3 years, Kim noted that it is not only the quantity of the films that is growing: “I’ve got to say that each year the quality of the films gets better and better,” she stated. She attributes these improvements in part to advances in film technology, describing how, “the fact that cameras are getting so much better and so much more compact means that people have a lot more opportunities with these types of equipment […] I’d love to see in 10 years what sort of content, what sort of image quality, what sort of films people will be making for Fokus.”

Via TVM McGill

Expanding Horizons Encouraged by the exponential growth of the Fokus Film Festival this year, TVM executives invited a wider range of people to participate in the event. Whilst the Film Festival is still organized and managed by McGill students, production teams were allowed to include people outside the university, so long as one member of the team was a student at McGill.

The new policy for production teams was a positive change, especially for Ray Arzaga and his team, who won

The Bull & Bear - April 2014

‘Best of Experimental’ as well as ‘Best of the Fest’ with Glitch Walk. Arzaga, who currently works in a Montreal Apple store as a trainer and a technician, had never previously considered sharing his work beyond his close friends. “Honestly, submitting Glitch Walk was pretty stressful,” admits Arzaga.“I never once considered to enter anything, ever.”

Despite Arzaga’s modesty, Amy Kim shared the judges’ admiration of Glitch Walk: “The editing, the lighting and the thought that went into it – mind-boggling really, mind-boggling.”

Apart from showcasing high-calibre work such as Glitch Walk, Kim believes the benefit of the Fokus Film Festival is that it encourages other amateur filmmakers, like Argaza, to share their work. She stated that one of the main goals of the festival was “to make students aware that just because you are at McGill, and it’s not a hands-on film program per se, you can still produce films like these great things.”

In fact, Argaza noted that he was motivated to enter

“I’ve got to say that each year the quality of the films gets better and better,” -Amy Kim, President of TVM the festival this year after being inspired by the last year’s event. Like Kim, Argaza was eloquently positive about the festival experience: “Film festivals are a great way to show off your work […] it allows you to learn about others, yourself, and your vision […] You learn from it, and someday you might even come up with something new because of it. Maybe someday, what you do will inspire someone else to innovate – we’re all actively participating in the evolution of cinema.”

5

Putting The Team Before The Machine Newly rebranded, McGill Robotics aims to demystify science and technology

Courtesy of Michael Elliot King

News

Holly Mendel, News Writer

M

cGill Robotics has a mission: to make science and technology more accessible. Many of us may have vague recollections of mandatory high school science classes, or maybe we’ve blocked the terrifying memories from our mind; after all, to most people, science is just plain scary. McGill Robotics’ project manager Nick Speal, a U4 Mechanical Engineering student, is hoping to change that perception.

Founded in September 2007 under the banner McGill LunarEx, the design team’s mission was to compete annually in the NASA Lunabotics competition. The objective of Lunabotics, held every year at Florida’s Kennedy Space Station, is to create a robot that is able to collect resources on the moon. In 2013, LunarEx placed twelfth out of fifty teams from all over the world; however, this year NASA has chosen to restrict the competition to US teams only.

Building upon their success, the team used the unlucky news as a way to find a new opportunity for McGill Engineering students still eager to get some hands-on experience. Thus, last year, McGill LunarEx was expanded and reincarnated as McGill Robotics.

What is McGill Robotics?

McGill Robotics is comprised of 98 people, divided into four teams. There is the CanSat design team, with a mission to create an atmospheric descent vehicle able to land safely on the ground without a parachute. The Roboventures team is for engineering students eager to gain necessary skills. The business team - in charge of funding, exposure, budget, and public relations - includes students from faculties outside of engineering.

6

And finally, the Autonomous Underwater Vehicle (AUV) team consists of 60 students competing in the Robosub competition.

Speal underlines that it need not be necessary to be in Engineering in order to join. In fact, the team is currently looking for a graphic designer, a sponsorship liaison, a videographer, and a video editor.

A New Mission Set to take place in San Diego this summer, it will be McGill’s first year competing in the Robosub Competition. The objective of the competition is to design a robot capable of performing various tasks underwater.

The tasks, such as driving through a gate, and identifying buoys of certain colors, increase in difficulty.

News “Our main objective this year is to start with a foundation. We want to make a simple robot that works every time and build from there,” Speal explained. In fact, the team witnessed first-hand how important the basic structure is for building an effective robot. Speal spoke about seeing robots in the previous LunarEx competition; although they looked fancy, they turned out to be Via CBC

“We value the relationships that are built during the projects more than the projects themselves” - Racha Slaoui, U3 electrical engineering student

incapable to achieving the tasks at hand, and did not score well. “If it doesn’t work, it’s the end,” Speal stated.

Beyond the Robot However, a solid foundation for the project does not start at the robot. McGill Robotics’ mantra is “team before machine.” For McGill Robotics, teamwork is of the essence. As Robotics member Racha Slaoui, a U3 electrical engineering student, elaborates, “we value the relationships that are built during the projects more than the projects themselves.”

In fact, competing in competitions is only one aspect of McGill Robotics’ mission. The Roboventures team travels to various high school and elementary schools in order to promote the areas of science, technology, engineering, and math (STEM). Few students decide to pursue the STEM fields once they enter university, possibly because they fail to see its real-world applications.

McGill Robotics encourages students to pursue STEM fields by showcasing their LunarEx robot to the different schools and showing just how “cool” science can be. McGill Robotics aims to prove to young students that science can lead to endless opportunities.

In fact, many students join McGill Robotics as a way to explore real-world applications of the concepts they read about in their textbooks. Slaoui, the business team leader, was excited to join the team for this reason. “I was frustrated with school, because although we learn the theory, we never get to apply it in a concrete manner,” she explained. “With McGill Robotics, I learn things all the time.”

The team’s most recent project is the creation of an

The Bull & Bear - April 2014

underwater robot, which should be ready for testing in a few short weeks. The robot will compete for the opportunity of a cash prize; however, Speal did not seem very concerned about the added incentive. “Sure, there’s cash,” he stated. “But the real takeaway here is the knowledge we acquire. McGill has an international reputation for excellence and it will be great to contribute to that.”

Building a Legacy These passionate students hope to build a legacy that people will remember. While winning competitions may be a piece of that legacy, Speal hopes to make a more long-term impact by inspiring other students to pursue the sciences. “I want to be able to look back 30 years from now and see how McGIll Robotics is doing,” Speal stated.

“Right now, we are still experimenting, but this is a very exciting step forward for McGill Robotics.”

Via McGill Robotics

To apply for a position as graphic designer, sponsorship liaison, videographer, or video editor at McGill Robotics, please visit their Facebook page at www.facebook.com/mcgillrobotics.

For more information on McGill Robotics, please visit their website at www.mcgillrobotics.com.

7

Talking Reddit With Alexis Ohanian

Via Adam Banks

News

The Bull & Bear Interviews Reddit Cofounder

Ana Maljkovic, News Writer

O

n March 11th, Reddit co-founder Alexis Ohanian came to McGill in an event coordinated and sponsored by McHacks, the Desautels Faculty of Management and the Dobson Centre for Entrepreneurial Studies, as part of his North American university tour to promote his new book, “Without Their Permission.”

The Bull & Bear’s Ana Maljkovic had the pleasure of sitting down with Alexis to discuss everything from entrepreneurship to open internet to social change, and even managed to squeeze in some time to talk about his favourite subreddit. Here’s how it went.

Ana Maljkovic: Thank you for coming.

Alex Ohanian: Thank you for having me.

AM: Let’s start from the beginning. How did starting Reddit and your whole career path happen for you? Is that something you knew you’d be doing from a young age or did it just happen?

AO: I had a lot of positive influences on me, particularly as a kid. I had great parents – my dad was an entrepreneur who started his own travel agency. But I was really on the wrong path, I was going to be an immigration lawyer and I was obsessing over my GPA for my first two years at school. I took every LSAT prep class I could until finally I walked out and realized, you know what, I don’t actually want to do this. I think there are definitely some people who are very suited to that [career path] and it works for them. I have a couple of friends now who are lawyers, who actually enjoy what they’re doing. They’re doing startup law and they’re just the right kind of person for it, but I’m not that kind of person.

AM: One of the big things about Reddit it its social power. In 2007, Redditors came out en masse to vote for Greenpeace’s whale naming competition, naming it Mr. Splashy Pants. Recently Reddit got

8

some attention for its coverage of the Boston bombings, and the Syrian Civil War. What do you think it is about the platform that has made it into this vehicle?

AO: We tried to build the most robust platform we could for communities all over the world to share those links and have those discussions and vote up the best ones. There wasn’t a lot of premeditation. We just wanted to solve that problem for ourselves and hopefully it would benefit lots of people, and I think what you see there is just a reflection of the people using it. At the end of the day, it is a tool and it turns out people are, on the whole, pretty damn cool. So like any tool, it’s a reflection of the users. Now that we have, as I said in my speech, four Canadas worth of users – that’s a lot of users. And it’s interesting to see what they come up with.

AM: You’re a very strong proponent of keeping the Internet open, and it’s something you mentioned in your speech today. You’ve campaigned against SOPA and PIPA. What’s behind that for you?

AO: The reason I got involved in the fight is because I knew Steve [Huffman, Reddit’s co-founder] and I never could have started Reddit if those bills were law, so it was almost out of self-preservation. And the reason I continue to fight it is because, as I hope is evidenced from the book, the tour, the talks, there are so many people using this open platform to do amazing things, and I don’t want to miss that. Not only are you talking about the Mayas and the Lesters and the Brandons of the world [referring to young entrepreneurs mentioned in his speech] not being able to do what they’re doing now, but you’re also talking about generations of future ones who will never get the chance to do that. That’s an unimaginable cost that I won’t stand by losing.

AM: You seem to really merge technological innovation with social innovation. How do these two link together for you and why do you integrate them

News so much in your work?

AO: Because we will never get the Internet we deserve. We will not see the Internet live up to its full potential unless we get everyone access and skills to make the most out of it. Great ideas are not just limited to people who have means, great ideas are everywhere. And I want as many great ideas to come to fruition as possible.

If one really believes in making the most out of the Internet, one has to also believe we get the full benefit of society from it.

AM: What advice would you give to young, aspiring entrepreneurs who are looking to follow the path that you’ve taken?

Alexis Ohanian: Are they in school right now?

AM: Let’s say yes.

AO: Okay. Take full advantage of this time in your life, because you are never going to be freer than you are right now. You’ve got your room and board covered, you’ve got people all around you who are just as young and ambitious and excited about doing stuff. Start doing stuff. Some of the best experience you’re going to get here is not actually from your classes, it’s going to be from stuff you’re doing on the side. So whether it’s launching your first Kickstarter campaign for the art project you want to do, or whether it’s starting a Shopify store to sell your gourmet coffee beans, whatever it is. Get started doing that stuff now, because even if you don’t want to start a company, that’s what’s going to make you someone I want to hire, as well as someone I want to invest in, because you’ve got the ability to have ideas and actually do them.

AM: You’ve mentioned in the past that you don’t consider factors like GPA or where people attended school when hiring. I know this is a trend that a lot of companies have started to follow. What’s the rationale behind that for you?

AO: This is something that’s not unique. I mean, it’s on the Y Combinator application – school is, but GPA isn’t. I think a lot of my peers in startups, a lot of my fellow CEOs, realize how moot those things really are. At an early stage company, especially when the job roles are more abstract and you have to do a lot of different things, if you’re a developer or a marketer, what really matters is the stuff that you’ve built, the stuff that you’ve done. If you’re a designer, I want to see your portfolio. If you’re a marketer, I want to see campaigns that you’ve run and managed. All of those are things that don’t show up in your GPA, that don’t show up in what school you went to. I might take note if it’s a rival of UVA, which is where I went to school, just so I can make fun of you and tease you. [laughs] The thing that matters is getting s--t done. There aren’t any universities that are particularly

The Bull & Bear - April 2014

well-suited to this world. They’re all trying very quickly to adapt, but in the meantime, just get s--t done.

AM: I know you’re doing a university tour right now, going to different campuses across North America. From what you’ve seen, do you feel like there’s an entrepreneurial spirit for this generation to carry on?

AO: Absolutely. It’s almost out of necessity. The Canadian economy is obviously faring a lot better than the US economy during this great recession, but still, a lot of the traditional jobs that I think many of us were expecting to get after our schooling are not there and the only upside of that is that it’s forced us to invent our careers, instead of just following them. The other bonus of that is, you know, when you have so few traditional or conventional options, it really lets you think ‘What do I want to do?’ I think we’re the first generation that’s also gotten the chance to say, ‘What am I really passionate about and can I find a way to hack this into a career?’ If you imagine new workforces of people who are actually doing the s--t that they’re excited about, that’s going to pay huge dividends a lot sooner, than a workforce that’s just doing the job they were supposed to do for forty years to one day do the things they actually want to do, when they don’t have the energy, they don’t have the ambition, they don’t have the freedom. I’m just trying to get people to realize that there aren’t just special people who are entrepreneurs, and then there’s everyone else. Everyone is capable of being entrepreneurial. Even if you don’t want to start a company, there are so many other ways to do it.

AM: You’ve done reddit, hipmunk, fundraising, financing, all these different things... what’s next for you?

AO: Wow… I don’t know. I think I’ll be spending a lot of time back in Brooklyn, working on a very cool project in physical space, that I hope embodies all of the things that I’ve talked about, seen, and encountered, not just over the last eight years, but especially over this tour, that hopefully pushes forward even more these ideas I’m talking about, things like entrepreneurship.

AM: Last question: what’s your favourite subreddit?

AO: Oh man…

[The Bull & Bear’s Layout Editor, Sisi Ye, who was present at the interview, jokingly whispers “r/trees.”]

AO: [laughs] Alright, let’s put r/trees on there. On that note, one of my favourite AMAs was actually Snoop Lion’s.

AM: Alright, wonderful. That’s pretty much it.

Thank you so much for the interview and best of luck with everything.

AO: Thank you.

9

Lifestyle

Final Destination McGill Survival Guide Life lessons from my undergrad

M

LJ de Gara, Lifestyle Writer

y four years at McGill offered me a lot of first experiences: first time stepping in vomit on the metro (not mine, November 2011), first time I discovered a mysterious cat in my apartment (also not mine, January 2014), first time that I destroyed a clothes

dryer (the fault was, unfortunately, mine. September 2012.) But, what did I really learn? Mostly, to watch where you step, to keep your doors locked when you’re making a tuna sandwich, and not to put comforters in the dryer. Beyond that, here are a few other kernels of wisdom:

1) “Optional” readings are for suckers.

2)“Required” readings are optional.

3) “You can retake a test, re-enroll in a class, or redo a semester, but you will never get to relive a night,” said a person who dropped out first semester of second year and is now...?

5) There’s a loudmouth, pretentious person in every conference and tutorial. If you can’t immediately identify said person, then it’s probably you.

(Sorry. It hit me hard when I realized this too.)

4) Contrary to popular belief, Faculty Advising is not an advising service but actually an elaborate performance art piece about the futility of bureaucracy. A memorable encounter was when I was told, without a trace of irony, that, “you can’t just drop-in for drop-in advising!”

6) There is nothing wrong with crossing the street or ducking behind a building or hiding in 7) If you decide to live further away from campus, a garbage can to avoid making eye contact with you’ll have to deal with metro delays, bus delays, an acquaintance from high school. and the ubiquity of urban barf.

10

Lifestyle 8) For the cost of a drink in “da club,” you can pay for an entire month of Netflix. For the cost of one drink plus cover, you can pay for Netflix and a bottle of dep wine and a family-sized bag of Doritos. Think carefully.

9) If you decide to live in the McGill Ghetto, you’ll have to dodge smashed beer bottles, ominously stained t-shirts, and discarded toilets in the streets on a daily basis.

10) You’re probably going to cry in Service Point at least once.

12) Sure, Chef on Call is okay if you’re in first year or only want a sandwich... But the best delivery service is A La Carte Express (alce.ca).

Depending on your location, you can have up to 40 restaurants to choose from.

11) McGill is in downtown Montreal, a classy city full of grown-ups living their actual real lives. If you walk around campus rocking McGill-print sweatpants or pyjama pants, you are bad and you should feel bad. Where do you think you are, huh?

Your parents’ rec room? A grade 8 slumber party?

Queen’s?

13) Complaining about the weather face-to-face is a beloved ritual of Canadian life; complaining about the weather via Facebook status is absolutely unacceptable under any and all circumstances.

Note for Americans: writing a weather-related Facebook status with temperatures in Fahrenheit is actually a misdemeanour under Canada’s Criminal Code.

Essentially, over the course of my undergraduate career at McGill, I learned that university is a surrealist hellscape where only the strong survive. Oh, and a few things about political science too, I guess.

The Bull & Bear - April 2014

11

Lifestyle

The Frugal T r av e l e r ’ s G u i d e

Via W8Themes

Niall Carolan and Paulina Pędziwiatr, Lifestyle Writer and Guest Contributor

A

s the majority of my travels are limited to trips to campus, Madonna’s Pizza, or the local dep, I was in need of some counsel when assembling a frugal traveller’s guide for that quintessential Euro trip. After questioning friends ranging from the casual sightseer to the travel-hardened veteran, I’m confident this guide will provide you with tips and tricks to cheaply navigate your way through Europe.

among travellers and offer comprehensive guides to any city imaginable. Its historical facts are interesting and insightful, while the restaurant recommendations provide possible meal costs and a surprisingly accurate overview of the joint’s vibe. Another indispensable traveller’s tool is the International Student Card, which qualifies you for student discounts on all major forms of transport, many retail stores, and student accommodation.

Lodging First of all, you need to be realistic with how far you are willing to go to save some cash. If the spontaneity of hopping from campground to campground doesn’t appeal to you, you may want to look for other options.

Preparing a budget is great way to pre-plan your trip, and can provide a better outline of where you plan to visit. At the lowest-budget level, travelling in a tent or couch-surfing with strangers is the most cost effective method, shy of staying with friends and family (which you should definitely try to take advantage of ). The most standard options, such as hostels and designated student housing, offer safe, fun, and usually clean lodging at reasonable prices. More expensive options include hotels and villas, with added fanciness, security, and community at a premium.

When researching your lodgings, try to stay away from designated hostel and hotel booking websites.

These sites almost always prove more expensive than booking through smaller, independent sellers. The added work of searching for local hostels could save you up to 50% over large online listings.

Drinking A quick tip to save money on drinking: a lot of European cities permit you to drink in public, often when accompanied by food. To save you from spending a month’s worth of flights in the first bar you find, buy your booze dirt cheap in a local supermarket, and enjoy an evening in the park or by the ocean. To recap, is bringing a sandwich and three bottles of wine to your local park wrong? Unclassy, yes. Illegal, no.

Research Before visiting any country, it is key to do at least a little research. Knowledge is power, whether it has to do with historical landmarks or the cheapest place to grab a pint. Lonely Planet books are widely recommended

12

Working Don’t be afraid to work when travelling! Finding odd jobs in places like vineyards can earn you money to continue your travels, alternatively many places offer food and a lodging for a day’s work. Several friends told me some of their most memorable moments were had while working, and that it provides a great place to socialize in an otherwise unfamiliar location.

In a similar fashion, ‘woofing’ is the term used when travellers work, usually in the fields on some sort of fairtrade, organic farm in exchange for room and board. If you are stuck between destinations and are strapped for cash, woofing is a great solution. While I was looking for work in Urubabma, Peru, I met an elderly couple who ran an organic farm and regularly took in ‘woofers’.

While the tarantulas kept me on my toes, the farm owners were some of the kindest, most knowledgeable people I met on my trip.

Lifestyle Featured Destination for Summer 2014: Poland Our featured destination for summer 2014 is Poland, a great choice for its unparalleled beauty and ease of mobility. Bonus points for Canadians not needing a visa to visit! Located in the heart of Europe, this gem is not to be missed when you’re planning your Euro trip this summer. Here are the top five reasons why Poland should be on your must-visit list.

1. The Tatry mountains Already conquered the Rocky Mountains? Well, this summer you can take on the Tatry Mountains. Located in the south of Poland, about 100km south of the city of Kraków, these mountains feature beautiful hiking trails. The highest peak is near the city Zakopane, which is home to the Góral people. Make sure to try oscypki (Góral cheese) when you’re down there!

How to get there: From Kraków you can take Polskibus for 15złt ($5) one way or if you want to experience the train-life, the “express” (6 hour) train from Warsaw is 64złt ($20) one way.

Where to stay: There are many pensions and cottages around for as little as 50złt ($15) per night!

2. The longest wooden pier in Europe

made pierogi? These delicious dumplings can be found anywhere in Poland for a great price. A typical meal in a small restaurant can cost about 12złt ($4) and will fill you up for hours. Also make sure to try some delicious kiełbasa (polish sausage), zapiekanki (pizza subs), krokiety (meat-stuffed crepes), and gołąbki (cabbage rolls).

There is no better place to try wódka (vodka) than in its birthplace. It costs about 21złt ($7) for Via Vito.org.pl a 500ml bottle of wódka and there are a variety of flavors and brands available. One of the most popular types of wódka among students is Soplica Orzech Laskowy (hazelnut vodka), which is essentially Nutella in alcohol form. Who can say no to that?

Poland is also known for its beers such as Zywiec and Tyskie, which cost about 4złt ($1.30) for a bottle. A great bar chain to check out is Pijalnia Piwa i Woódki, which can be found in every major city and offers all drinks for 4złt (1 euro).

4. UNESCO sites It is no surprise that a country with such an old and rich history has many UNESCO sites. Many city squares, such as the ones in Krakow, are certified UNESCO sites, as well as, the famous Białowieża Forest, which is home to the largest reserve of the vulnerable European Bison species.

The Molo (pier) is found in the beautiful city of Sopot in northern Poland, close to the city of Gdańsk, which make up the Tricity region with Gdynia. The pier is a great place to watch the sun set on the Baltic Sea – probably the most beautiful sunset in all of Poland. Don’t forget to go for a dip in the Baltic Sea (not recommended in months other than July or August) and eat some gofry (waffles) on the beach. They are to die for!

How to get there: From Warsaw you can take either the Polskibus, which is about 30złt ($10) one-way or the train which costs 27złt ($9) one-way. Both take about 7 hours.

Where to stay: There are also many pensions and cottages around for as little as 50złt ($15) per night

5. The People Lastly, Poland is home to many famous people. From Chopin to John Paul II to Maria Skłodowska-Curie, there is an inspirational figure for everyone and many museums to visit! The city folk are friendly too, and it is easy to get around with just English, saving yourself from learning how to pronounce those pesky “sz”, “cz” and “sz” & “cz” together.

When setting out on your European adventure, be sure to plan ahead and get to know your surroundings.

Before you embark, make sure that you are honest with hose pw much you wish to spend, and what level of travel quality you are looking for. Always be open to new experiences along the way, including various rental, social, and occupational situations. Travelling is an inherently chaotic and impulsive process, so try your best to embrace the confusion, and make the most out of every day!

3. The food and alcohol What better place to eat some authentic and home-

For more information, check out http://www.poland. travel/en-us/

Via Mera Spa Hotel

The Bull & Bear - April 2014

13

Lifestyle

Procrastinating Productively A Guide to Binge-Watc hing Your Way Through Finals

A

Kate Nishida, Lifestyle Writer

h, exam season – that time when classes have finally come to an end and you spend most of your days in your bedroom, at the nearest Starbucks, or saving five spots on the third floor of McLennan. Normally, I would encourage you to make the most out of this newfound “free” time, advising you to go to bed early and take advantage of self-control apps which temporarily restrict your access from social media sites (or wasting two hours playing 2048). However, as a student in her last semester at McGill, I advise you to indulge in something more relevant – television marathoning. There are only so many times you can refresh your Facebook newsfeed, and while BuzzFeed’s list of quizzes is extensive, it is not infinite. To help you make the most out of procrastinating, I have prepared a handy list of the hottest new TV shows for your binge-watching pleasure.

Best New Comedies Looking Noted as being one of the most raw and honest programs on cable, this HBO comedy follows a group of gay men living in San Francisco, told in a structure not unlike Girls. It’s refreshing to see that a show can still be successful without relying on overdone stereotypes that are often favoured by television networks (think Marc from Ugly Betty and even Modern Family’s Cameron). Looking is this year’s underrated gem and better yet – watching the entire season will only take up a single afternoon!

Brooklyn Nine-Nine Via AvsForum

14

When SNL alumni Andy Samberg won the Golden Globe for “Best Actor in a Musical or Comedy Series”, even he couldn’t mask his surprise. However, the NYPDbased show has developed quite a following, as its goofy characters are both lovable and easy to relate to. If you liked The Office, chances are that you will get a good chuckle out of this workplace cop comedy.

Best New Dramas True Detective Via Forbes

This gritty miniseries features real life besties Matthew McConaughey and Woody Harrelson in some of their best work to date. Consisting of only eight episodes, the show quickly became one of the trending topics online, generating speculations, fan art, and an entire Subreddit of fan-developed conspiracy theories. Who is the Yellow King? Who killed Dora Lange? Most importantly, is that McConaughey’s real hair?

The Americans Not many television programs can say they have the backing of the CIA, but former CIA officer Joe Weisberg created and produced this Cold War drama about two Soviet KGB spies living as a married couple in America.

Besides the political intrigue, the show is also about marriage and family relationships. A single episode is jampacked with suspense, melodrama, and action.

American Horror Story: Coven Following a group of young witches studying their

Lifestyle craft at an academy in New Orleans, the third horror installment thrills and chills its audience with gore, suspense, plot-twists, and the wickedly spectacular performance of Jessica Lange as the Supreme (head witch in charge). This season features A-list guest stars, including Gabourey Sidibe of Precious fame, Angela Bassett, and Stevie Nicks. Since each season features a stand-alone storyline, you only have to commit to thirteen episodes to be completely caught up in the series, although the previous two seasons are equally exciting.

Most Anticipated Returning Shows Two of these programs are returning to cable just in time for exams to actually start. If you have yet to watch any of these shows, their earlier seasons are readily available for you to procrastinate to your heart’s content.

Game of Thrones (Returning April 6th) It feels like eons ago since the emotionally crushing Red Wedding. If you’re a fan of the book series then you already know that the upcoming season involves major plot twists and an even higher body count (no spoils). GoT is the perfect alternative to studying, as its complicated storylines and plethora of characters act as a fantastic workout for one’s memory. Who needs Lumosity when you can quiz yourself on the names of Ned Stark’s children?

Orphan Black (Returning April 19th) Via Geekwire

Canadian actress Tatiana Masley shows off her unbelievable acting chops in playing not one, but seven different characters in this sci-fi thriller about clones. To give you a brief recap of last season, lead character Sarah Manning watched a woman jump in front of a train.

After stealing her purse, Sarah realizes that the woman looks identical to her, leading her to steal her identity as well. Chaos ensues when Sarah discovers that the two are clones and that many more of “them” exist. Orphan takes a brilliant perspective on the ethics and morality of cloning and was by far one of my favourite shows of 2013.

Orange is the New Black (Returning June 6th) Two words: Crazy Eyes

The Bull & Bear - April 2014

All Time Classics If you are not a fan of experimenting with your television choices, not a problem! Here are two tried and true shows that have been widely celebrated in TV history.

The O.C. Via TV.com

Featuring one of the hottest casts in the history of television, this show caused Orange County to become the most desirable (not to mention dramatic) places to attend high school. As the inspiration for reality programs like Laguna Beach and The Real Housewives of Orange County, there’s no question that The O.C. has had a substantial influence on pop culture. Oh, did I already mention how unbelievably attractive the cast is? Seth Cohen steals the heart of every Millennial girl.

Breaking Bad Arguably one of the most thought-out television programs to ever air, critics and fans alike are still reeling from this past September’s series finale. Chemistry teacher turned drug dealer Walter White and protégé Jesse Pinkman became an unlikely powerhouse duo that terrified and charmed the show’s devoted fan base.

Though producers chose to only run the series for five seasons, a prequel to Breaking Bad, titled Better Call Saul, is currently in the works.

The Sopranos Consisting of ten seasons, The Sopranos offers both quality and quantity in terms of procrastination material. The late James Gandolfini, as Italian-American crime boss Tony Soprano, moves viewers in a way that we somehow find ourselves cheering for the bad guy, despite his violent, sociopathic behaviour. The show deals with sex, drugs, and death, but it also offers a thought-provoking commentary on social issues like mental health, family relationships, and racism.

Although this list is far from being conclusive, I hope it presents you with enough material to survive the dreaded exam season, but still remember to hit the books before pushing that “Play Next Episode” button on Netflix.

15

Feature

A Year in Review September 5: Professor Suzanne Fortier began her 5-year term as McGill’s Principal and Vice-Chancellor.

Via La Presse

November 18: Toronto City council votes to reduce Mayor Rob Ford’s budget and duties after the mayor had admitted to buying and using Via The National Post illegal drugs while in September 23: Group of Desautels’ office, and spewing MBA candidates awarded the Hult Prize numerous obscenifor developing a strategy to use crickets ties during live TV. as an inexpensive solution to food insecurity worldwide.

2013

August September

October November Decem September 10: Quebec Charter of Values officially proposed.

August 30: McGill students move into two floors of the apartment Varcity 515, located in downtown Montreal. The decision was made after discovering a lack of housing for incoming first-year students; partially due to the closing of Douglas Hall, which housed 179 students.

16

November 3: Denis Coderre wins Quebec Mayoral Elections after two rounds of debates held at McGill on October 3 and October 22.

Via Le Devoir

Feature February: Eighteen current and former McGill students travel to Sochi as athletes, coaches, and administrators in the 2014 Winter Olympic games.

Via Demilitarize McGill

January 25: McGill University agrees to honor ATI requests under Quebec’s Access to Information Act after years of denying students permission to view controversial documents published by the university.

Via The Bull & Bear

February: New Democratic Party (NDP) Leader Thomas Mulcair and Liberal Party Leader Justin Trudeau, both McGill alumnae, addressed students at separate speaking events on issues ranging from political participation to indigenous rights.

2014

cember

Januar y

Februar y

March

January 27: SSMU VP Internal Brian Farnan releases listserv apologizing for a listserv sent in October, which included a meme depicting US President Obama kicking a door and prompted an equity complaint. The controversy, nicknamed “Farnan-gate,” attracted the attention of major media outlets in Canada and in the US. In March 2014, SSMU voted to rescind the decision to release an apology.

April

April 2: Following an investigation of Khan’s campaign activity, Elections SSMU announced its decision to officially invalidate the election of SSMU President Tariq Khan. As a result, runner-up Courtney Ayukawa (who lost the election by a margin of 78 votes) is declared President-Elect.

March 21: SSMU Winter Election and Referendum results released, announcing Tariq Khan as SSMU president by a margin of 78 votes. Within the Referendum, the Implementation of University Building Fee was voted down, raising a question of how the lease renewal of The William Shatner Building will be funded in upcoming years.

The Bull & Bear - April 2014

17

Feature

I

Spotlight on

Montreal

f you’re like me, and you spend more time than is healthy holed up inside the concrete abyss of McLennan, Leacock, or any of the other “McGill eyesores” we love to hate, it is easy to forget that Montreal is a UNESCO City of Design and home to some of the most stunning architecture in the world. As the snow finally melts, take a study break to get outside and go see some of these architectural gems — all walking distance from campus.

Habitat 67 Ever wondered about that bizarre stacked-box structure across from the Old Port? Believe it or not, this jumble of concrete cubes - which appeared in Will Ferrel’s Blades of Glory - is a model community and home to some of Montreal’s wealthiest citizens. Habitat 67 is the brainchild of Moshe Safdie, whose original idea for the building came from his master’s thesis in Architecture at McGill. The complex was built for the 1967 World’s Fair, Expo 67, in response to the theme “man and his world”.

The design consists of 354 identical pre-made cubes arranged into 146 apartments, each complete with rooftop gardens formed on the roof of the unit below. The residences are connected by a vast network of bridges, elevators, and multi-leveled pathways. 23 year-old Safie’s vision is a fusion of the best aspects of urban and suburban living; the complex is close enough to the bustle of the city but nestled in greenery on the peninsula. While there is talk of opening up one of the apartments (in fact Safdie’s own unit) to the public as a museum, it is worth crossing the canal to witness, if only from the outside, a McGill grad’s redefinition of urban housing that is now an architectural landmark.

Sun Life Building Jumping back to 1918, this awe-inspiring Montreal fixture - which resembles a wedding cake in its tiered design - was originally built only seven stories tall to house its namesake, the Sun Life Assurance Company. The building’s steel framework is supported by bricks and faced with terra cotta tiling. The lavish first floor interior Banking Hall is outfitted in various types of European marble floors and Corinthian columns, brass doors and railings, and gold-plated ceilings. As the company thrived and grew, the building underwent two expansions in 1926 and 1933 respectively, bringing the Sun Life to its current 26-story stature. A further $150 million “retrofit” occurred between 1986 and 1999 to meet modern building code demands. Noteworthy features in the building include a 10th floor bowling alley, an 8th floor medical center/hospital, a 16th floor shooting range, and a 7th floor gymnasium.

18

Feature

Architecture Jess Farber, Lifestyle Writer

Fo u r b u il d in g s wo rt h a d o u b le ta k e

Biosphere The Biosphere, also built for Expo 67, is worth visiting for its architectural grandeur and the environmental museum it houses. The geodesic dome was the U.S. contribution to Expo 67 and designed by architect Buckminster Fuller. It stands in Parc Jean-Drapeau on Île Sainte-Hélène which was enlarged for the exhibition.

Prior to its time, most geodesic domes were hemispherical in shape, but Fuller’s six-hundred ton, twenty-story pavilion makes it a 97% sphere. In 1976, a fire destroyed the transparent acrylic skin and the city banned access until 1990 when Environment Canada bought the site for $17.5 million. The Biosphere reopened in 1995 as a museum dedicated to studying water and the Great Lakes-St. Lawrence River ecosystem, ultimately being re-labeled “an environment museum” in 2007. Prior to the museum opening, Eric Gauthier redesigned the interior structure which now consists of several enclosed buildings inside the original steel skeleton. Most importantly, Fuller’s ecological vision for the dome was preserved, the dome’s defining feature being the transparent division between the inside and outside worlds.

Mary, Queen of the World Cathedral An emblem of Montreal’s rich religious history, Mary, Queen of the World Cathedral is considered a minor basilica by the Roman Catholic Church and is the third largest church in Quebec. The church was built by the order of Monsignor Ignace Bourget, second bishop of Montreal, who wished to model the structure after Saint Peter’s Basilica in Rome. Construction lasted from 1875 to 1894, after which the church was established as the SaintJacques Cathedral (after the original church of the same name which had burned down in 1852). In 1955, it was rededicated to Mary, Queen of the World by Pope Pius XII. The most prominent feature, the cathedral’s majestic green copper dome, is easily visible from most places in the city. The interior has striking similarities to that of Saint Peter’s, featuring naves, transepts, and a magnificent baldachin. Brush up on your art history terms and see what other architectural gems you can spot!

The Bull & Bear - April 2014

19

Feature

The Year’s ToP

Jonathan Craske Lead Business Editor Andrew Marcovitch Business Writer A Year for Tech

Investors will no doubt note 2013 for the long awaited rebound of Facebook.

After it’s post-IPO slump, this year saw its share price climb from around $25 in July 2013, to nearly $70 in March 2014. In addition, Twitter’s IPO in November last year saw the company’s stock price peak at over $70/sh, only to fall from grace this past Februrary, and begin a steady decline to it’s current position at roughly $40/sh.

As if that weren’t enough, this year has seen a number of high-profile mergers, acquisitions, and valuations in the sector.

Snapchat, Instagram, and Tumblr are just a few popular platforms that made headlines throughout the year.

ObamaCare and Government Shutdown in the United States

The centre of political debate in the US since well before 2008, the implementation of ObamaCare (Affordable Care Act, or ACA) should have been the biggest story to come out of Washington this past year. It proved a defining moment in the elections. Not to mention the technological glitches that plagued the rollout of Healthcare. gov, and embarrassed Canadians when it was reported that Montreal-based CGI Corp. was responsible for the website.

However, the republican-held House of Representatives, in their efforts to delay funding for the ACA, failed to pass a funding resolution through the democrat-held Senate by October 1. As a result, the federal government was shut down for 16 days.

JPMorgan Settlement Edward Snowden and the NSA

Edward Snowden; hero or fugitive? The answer is both. Edward Snowden leaked the spying practices of the U.S. National Security Agency (NSA) before fleeing to Russia. He leveraged foreign relations between Washington and Moscow to secure political asylum. Edward Snowden remains a free person in Russia, frequently participating in American media outlets through live video feeds.

Snowden’s actions led to a widespread reform of American intelligence agency practices, and exposed the U.S. as a violator of human rights principles in several cases. The U.S. government’s actions not only included spying on potential terrorists, but also it’s own people, foreign leaders (such as the cell phone tap of Germany’s Angela Merkel), and colluding with Canada to set up spying tools in advance of the G8 Summit.

20

In 2010, British Petroleum (BP) was forced to pay a government settlement of roughly $4 billion USD as a result of the tragic Deepwater Horizon oil spill, setting a seemingly insurmountable record for corporate settlements in the United States. In November of 2013, however, JPMorgan Chase was asked to cough up $13 billion USD as a result of the bank’s role in the 2008 financial crisis, representing over 60 percent of the bank’s 2012 net income. Of the settlement, $4 billion USD is estimated as consumer relief, with the remaining $9 billion USD to cover penalties and fines issued by the federal government.

Feature

Business Stories The Bull Market of 2013

The year-ended December 31st, 2013 was a record year for stock market investors. The S&P500 index returned 26 percent over the year, while the NASDAQ returned even more. It was the largest single year return since 1997, and just a leg of the 5 year long bull market investors have enjoyed since the end of the 2008 financial crisis. The lowest point of the market was in January 2009 when the S&P500 was below 800 points. If you invested $100 at that time and waited through to the end of 2013, your portfolio would be worth $205, representing the 105 percent appreciation in value the S&P500 has experienced since 2008.

Comeback Kids of Detroit

Blackberr y: World War Z To sell or not to sell? After years of prolific and steep decline, the Waterloo-based manufacturer of the “original smartphone” once again dominated headlines.

After disappointing results following the launch of it’s long awaited BBX platform and Z10 device, Blackberry was put up for sale at a staggering discount. Torontobased Fairfax Financial was, for weeks, the frontrunner with a bid of around $4.7 billion CDN. However, the deal eventually fell through, and amid wildly inflated inventories and stumbling sales figures, the board elected to take Blackberry off the market altogether. Instead, focus was put on internal reform. The board was all but completely rebuilt, and a new CEO put in place. While Blackberry still sits well behind the industry leaders in both the consumer smartphone and intelligent business solutions markets, analysts are careful not to write them off just yet.

The Bull & Bear - April 2014

Amidst the 2008 financial crisis, the Big Three automakers of Detroit (Ford, Chrysler, and General Motors) were among the giants rightfully caught in the crossfire of economic disparity. Poor product planning, waning profits, and decreasing market share on all three counts, the firms were famously scolded

by Washington for inflated cost structures and generally poor organization.

While Ford was quick to recover, Chrysler and GM have had more difficulty. This past year, however, GM has seen it’s share price steadily climb to a peak of roughly $42/sh in January 2014, up nearly 68% year to year. Although the firm has more recently been dealing with recall issues, GM has all but completely proven to investors and consumers that it has what it takes to compete in the highly globalized auto industry.

21

Business

Carbon Emissions: The Overshadowed Debate An introduction to two proposed emission reduction systems Arash Nayerahmadi, Business Writer

I

t’s rare over the course of any sort of political debate not to hear some mention of environmental policy. Whether it’s framed as a question about ‘global warming’, ‘renewable energy’, or even just the ‘environment’ in general, it’s clearly an issue worth discussing. More often than not, there’s also some element to the dialogue regarding the economics of carbon emissions. There is always talk about whether emissions need to be reduced or not, but never talk about the how it will be implemented on a large scale. While the media might focus on the failed Kyoto Protocol, or the damage greenhouse gases have had on the environment, rarely do they talk about the logistics of reducing emissions.

It seems, then, that this is a debate worth having.

This article will look to explain the two primary methods behind government-implemented emissions reduction: cap-and-trade, and carbon taxes. The goal is to have an idea about the functionality of these alternatives, and what implications they have for the environment, economy, and country. Both look to internalize the costs of negative environmental impact (currently an economic externality), but both do so in a very different way.

The cap-and-trade system is, in its simplest form, a policy that allocates the right to produce/emit emissions by the ownership of permits - similar to milk quotas for Quebec dairy farmers. These permits are typically issued by a central authoritative body (i.e. the federal government) and initially either sold, auctioned, or distributed to companies based on a metric which would

22

Via Flickr

allow fair allocation. The idea is to have a specified number of permits in the market to control the level of emissions, and overtime lower the quantity available to gradually reduce, and ultimately eliminate, carbon emissions by corporations in Canada.

The second part of cap-and-trade involves the regulating body establishing an open market in which permits can be bought and sold. In an traditional market environment, the demand and supply of permits will dictate the price. Once the permits are distributed, firms who can reduce emissions will opt to sell their permits to firms with less efficient practices in the regulated market, thereby fiscally incentivizing lower emissions. Overtime, as the quantity of permits in the market decreases, firms will be forced to reduce their emissions if they cannot afford the cost of the permits necessary to carry on their business. Cap-and-trade has a unique advantage of being

The cap-and-trade system is, in its simplest form, a policy that allocates the right to produce/emit emissions by the ownership of permits.

Business able to effectively adapt to recessions and inflations.

During economic troughs, production will decrease thus the demand for emission allowances decrease, as do the costs to purchase them. As a result, these permits can effectively act as an automatic stabilizing agent for the economy. In times of high inflation, the market would react by increasing the price for one permit.

Cap-and-trade comes at an advantage to governments and a disadvantage to corporations. Governments are able to set the level of emissions, and corporations will have to either comply, or purchase more allowances from firms who are capable of reducing emissions. Thus the government can create a schedule for emissions reductions that it plans to implement. Unfortunately, controlling emissions comes at a cost to corporations, and therefore the rest of the country. The price of permits will be dependent on their supply and demand, which means that corporations cannot accurately forecast their costs. This price uncertainty could reflect poorly on corporate investments, as capital certainty falls and the Canadian economy suffers.

The alternative to the cap-and-trade system is to implement a carbon tax. This alternative entails implementing a tax which corporations would pay based on the amount of emissions they emit. Efficient firms will minimize their carbon tax liabilities by minimizing emissions. Therefore emission efficient firms will have a lower cost structure compared to their competitors. The government can set the tax either as a flat rate or stepwise rates based on consumption intervals.

The benefit of the carbon tax is the predictability of the rate associated with emissions. Firms can forecast their future emissions based on the rates the government

The alternative to the cap-and-trade system is to implement a carbon tax. plans to charge. The disadvantage of the carbon tax alternative from the perspective of the government is that the reduction in emissions cannot be forecasted ahead of time. Government can set the rates for the emission tax, but emission reduction is at the discretion of corporations.

It is important to consider that both cap-and-trade

The Bull & Bear - April 2014

and carbon tax systems have several limitations and costs that need to be addressed. The most prominent issue is the measurement of emissions. The government needs to find a feasible method to accurately, and economically, quantify the emissions produced by each individual firm.

Furthermore the government needs to actively monitor and enforce the regulations it implements, which comes at a cost.

Via Ottawa Citizen

Stephane Dion, former leader of the Liberal Party, was attacked during his campaign for his emphasis on implementing a carbon tax.

Both alternatives strive to encourage corporations to invest in greener technologies. The idea is that growing costs will serve as an incentive for firms to reduce their emissions out of concern for the bottom line. However, in reality, some companies may find it cheaper to pay fines, taxes, or buy permits than to cut emissions. Other firms may find operating in emission regulated regions a threat and opt to relocate, ultimately at the expense of the Canadian economy. The success of emission reduction strategies is dependent on the global community’s willingness to support and implement comparable policies. It is here where politicians don’t see eye to eye, and ultimately where movements such as the Kyoto Protocol have failed.

There is no question that carbon emissions must be reduced. However, policy makers have yet to make any significant progress. When one party champions carbon tax, the opposition supports cap-and-trade. Even worse, politicians often mislead the public about the facts, similarities, and differences of the two alternatives.

Too often is a carbon tax labeled as “just another tax hike.” Whether it be cap-and-trade or carbon tax, both alternatives will inevitably improve the current status quo. The question then becomes one of viability, and of political dynamism.

23

Via Wikipedia

Business

Islamic Finance 101 Understanding a Finance Industry without Interest Guy-Rene Kayombya, Business Writer

T

he global financial crisis of 2008 exposed countless shortcomings in the regulatory and incentive schemes of traditional financial services. As a result, a lot of observers have shifted their attention to what were previously lesser known fields of finance. Indeed, terms such as impact investing, social capitalism, or Islamic finance have become increasingly popularized.

One of the consequences of the financial crisis was the increased interest in the soundness and resilience of the Islamic financial model. In 2008, Islamic banks, in contrast to their western counterparts, were not caught up with the toxic assets that hindered conventional banking services. It is worthy to note that not a single Islamic bank on the planet has needed to be bailed out with taxpayers’ money. This stability, coupled with the steady growth of the Islamic finance witnessed in the last 10 years, has peaked the interest of investors, analysts, and economists alike for the field of Islamic finance.

Today, Islam is the world’s fastest growing religion; the world counts 1.8 billion Muslims, nearly 25% of the global population. According to the UN, this number is expected to grow to a third of the world’s population in the next 10 years.

The Islamic finance industry has also been growing fast. Very fast, actually: with an unmatched average

24

growth rate of 20% per annum since 2007. Despite this robust growth, it is important to recognize the relative small size of the Islamic financial services industry compared to the traditional financial industry. Indeed, Islamic finance assets stand at roughly $1.13 trillion USD, which corresponds to a bank ranking 61 in the world.

The Royal Bank of Canada alone has roughly $750 billion USD in assets as of 2012.

Islamic finance refers to the banking and financing operations that are in conformity with the precepts of Islam and Islamic law (Shari’a), based upon the Holy Qur’an and Sunna practices of the Prophet. Christianity was born in a feudal world: most transactions were in kind, trade was not encouraged, and the main owner of land and source of production was the Church itself.

By contrast, Islam was born in Arabian merchant towns where trade and market transactions were commonly accepted. Consequently, Islam had to come to terms with the realities of capitalist markets, and trading was therefore inscribed in the Holy Qur’an. Moreover, trading in general was encouraged, but a system of ‘just exchange’ was enforced. Trade had to conform to certain principles for the transaction to be considered just.

A their foundation, Islamic financial instruments must avoid the following: • The payment or receipt of interest (riba)

Business •

Unconditional reward - some risk must be assumed to justify returns • Gharar (Hazard) or uncertain transactions - For example, there cannot be the sale of items which are not in one’s position, also referred to as short selling • Maysir (speculative transactions), or enrichment without labor (hedge funds would not be tolerated) • Transactions involving haram (forbidden) goods or activities such as the production or sale or of drugs, alcohol, pork, or gambling.

Islamic interpretation provides a very different treatment of interest than conventional forms of finance which, as we know, are based on the interest rate framework. The Holy Qur’an and Sunna both treat interest as

ards that were found to exist in these agreements. Islamic jurists-scholars who provide the consensus about the interpretation of Islamic law thereafter allowed that contracts that were created for trading could be adapted for financing to create a more diversified set of instruments.

Today, the major modes of financing include credit financing (murabaha), leasing operations (ijarah), and Islamic bonds (sukuk). IWe can analyze credit financing as an example of the applications of Shari’a principles. In the case of murabaha, the bank purchases the assets required by the entrepreneur, and then sells them to the entrepreneur at a markup over cost added. This profit is then shared with investors, who are normally the Islamic bank’s depositors. The markup is deemed to be Islamic compliant because it is a profit

Via Bloomberg BusinessWeek

Dubai, Bahrain, and Kuala Lumpur are all emerging as the centres of Islamic Finance an injustice condoning the exploitation of the economically weak by the strong and resourceful. The objection with interest stems from the fact that it is fixed and certain. This raises an interesting question relating to the fairness of the conventional banking system: How just is it for a lender to insist on the payment of a sum that is fixed and certain (interest on a loan or a mortgage) in return for what is uncertain (value of a business venture, a home, or an education)?

From the Islamic perspective, there should be a sharing of both profits and losses that arise from any venture. Under such a system, the lender cannot specify the return, but can instead specify the profit sharing ratio in advance. This means that the owners of capital can earn a return only by subjecting themselves to the risk of profit sharing.

In practice, profit sharing agreements have proved difficult to implement, chiefly because of the moral haz-

The Bull & Bear - April 2014

charged in a trade transaction, with the risks associated in the sale of a commodity.

Since 2008 and the subsequent financial meltdown, the World has seen an increase in the demand for Islamic finance products and solutions. This has been perpetuated as economic uncertainty in the Eurozone persists, and proves resistant to traditional recovery efforts. The resilience of the Islamic Banking model to the crisis, coupled with the Muslim community’s vibrant demographics, encourage us to predict further growth for Islamic banking. However, the well-hidden secret that may further accelerate the rise of Islamic Finance and cement it as an alternative to conventional banking is elsewhere: reports from PwC Malaysia show that 50% of the Islamic finance customers are non-Muslims. These trends have investors all over the world asking “Can interest-free banking revolutionize the world of finance?”

25

MDGovpics via Flickr

Opinion

Voter Suppression, the Conservative Way The Fair Elections Act is fair to some, but not necessarily you.

Chukwubuikem Nnebe, Opinion Writer

B

y threatening the same voter rights it claims to defend, the Fair Elections Act is an unfair piece of legislation. Tabled last month in Parliament, this bill would risk disenfranchising up to 120,000 Canadians and increase the role of money in politics, all while contributing to chronic low voter turnout.

As cliché as that irony-laden description may sound, if it ain’t broke, don’t fix it, right? Now if only our dear government followed that same logic in enacting legislation. Were that the case, I’m certain they would have realized that this bill is unnecessary, plain and simple.

Canadian elections, as imperfect as they may be, do not need to be “fixed” to the extent proposed by this bill.

So, why then are the Conservatives so ostensibly fixated on solving a problem where there is none? That precise question is one that has so deeply perplexed an international group of political scientists that they recently published an article lamenting the Fair Elections Act and its effect on electoral integrity. As Canada is consistently seen as a model of democratic integrity, they fear this bill will set a dangerous precedent across the globe for the

26

amendment of voter rights.

Naturally, the Conservatives would love to have us believe that this legislation serves solely the electorate’s interests. In theory, the Fair Elections Act’s principal objective is to curb voter fraud by further strengthening voter identification requirements and implementing harsher penalties where applicable. However, in practice, voter fraud is virtually nonexistent in Canada. I emphasize virtually because the only two major instances of electoral fraud – presumed or actual – that have occurred in recent memory involved the Conservatives.

Then, there was the 2011 robocall scandal where the Conservatives found themselves embroiled in allegations of voter suppression, whereby non-Conservative voters were dissuaded from voting after false alerts of changes to their polling stations.

Now, there’s the laughable story of Brad Butt, a backbencher Conservative MP, who demonstrated his undying loyalty to his party by forever compromising his own political credibility. In an attempt to corroborate the government’s claims of a rise in voter fraud, Butt con-

Opinion cocted, not once but twice, false reports relating how he witnessed first-hand people fraudulently using voter identification fished out from the garbage.

In its pursuit of reducing voter fraud, the Fair Elections Act is solely effective in preventing thousands of Canadians from exercising their fundamental right to vote.

By eliminating vouching, whereby one voter can vouch for the identity of another under specific circumstances, this bill risks disenfranchising many youth, Aboriginal peoples, and economically disadvantaged Canadians who may not possess the mandated government-issued identification. During the 2011 elections, 120,000 Canadians were able to vote through vouching.

Curiously enough, those voters are most likely to find themselves turned away at the ballot box for lack of proper voter identification are also those less inclined to vote Conservative next year. What a coincidence, eh?

Other worrisome clauses included in the Fair Elections Act relate to the abatement of Elections Canada’s powers in investigating voter fraud and enforcing

ulation, but particularly among youth. It is even more pertinent in light of the Liberals’ success in positioning themselves as the main beneficiaries of a potential mobilization of the youth vote during the 2015 elections.

While one party is aiming to get more young people voting and involved in the political future of their nation, the governing party is ready to sacrifice youth empowerment for a fourth mandate. Evidently, this is a case of the short-term ambitions of a select few prevailing over the long-term ramifications on the rights of all.

Since this bill is replete with clauses favouring the incumbent government, it comes as no surprise that the Conservatives have displayed such a peculiar eagerness in rushing the Fair Elections Act through the House of Commons.

If our governing party genuinely wanted to strengthen voter rights, then they would have realized that the only legitimate way to implement democratic reform is through consensus. Naturally, this implies consulting both the stakeholders (i.e. Canadian voters) and their

Why then are the Conservatives so ostensibly fixated on solving a problem where there is none? sanctions. Rather, these duties will now be under a Department of Justice office solely accountable to the incumbent government, instead of to Parliament as was previously the case.

There’s also the section that effectively increases the role of money in politics by raising all donation and contribution caps, while also exempting all fundraising expenses related to past donors. As this latter detail obviously only favours the party with largest base of past donors, take another wild guess on whom that may be.

As shocking as all this is, it’s necessary to point out how much we, as university students, stand to lose from the adoption of the Fair Elections Act. Through this bill, no longer will combating voter apathy among youth be a top election priority. By drastically restricting Elections Canada’s ability to communicate with the electorate, this act essentially prohibits any efforts made by the non-partisan agency to encourage voting in any shape or form.

This small footnote is especially relevant in this era of low voter turnout among the general Canadian pop-

The Bull & Bear - April 2014

representatives (i.e. all MPs in the House) in order to revise and refine the bill until it truly is in the best interest of Canadians. Instead, the Conservatives simply dismissed all attempts to slow down the legislative process, some would say in a bid to pass this bill before the 2015 elections.

Collectively, all these different elements of the Fair Elections Act represent nothing short of an utter affront to Canadian democracy. By abusing of their majority power in the House, our government has managed to rush this legislation without even stopping to receive the input of those concerned – we, the voters.

With Canada’s “international reputation as one of the world’s guardians of democracy and human rights” now on the line, I can’t help but wonder: who really benefits from this unfair act?

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

27

Opinion

Where Are All Our Graduates Going?

A

Why work experience is a better step to grad school Sam Robinson, Opinion Writer Dhaval Jani via Flickr

s we move to the end of another school year, we salute our graduating classmates heading off to new endeavours. Yet part of me is perplexed that so many of those students are choosing more school upon graduating rather than less – at least initially.

Many of our peers are pursuing graduate and professional programs directly following their undergraduate diplomas. Are another two, four, or more years really the best solution? Are these students aware that once they’ve completed these programs, they will have spent up to two consecutive decades in school? Talk about academic fatigue.

And it’s just not stress to be wary of. At the conclusion of their programs, these students may be years behind on their careers. Whatever value they find in the new degrees they hold will be largely offset by their dearth of experience compared to those who immediately started working after completing their undergraduate programs.

These students should be aware of their options.

For example, taking a year off one’s studies – known as the abominable “gap year” – was once stigmatized, but is now a common practice among college freshmen. When it includes work experience – either in jobs, internships, or volunteer programs – it gives students early exposure to the real world.

Who among us couldn’t benefit from some more time to mature, build experience and skills, and apply what we’ve learned in the classroom to real problems? Future postgraduate students should consider gap year of sorts - a year of work in their career field after graduation, as opposed to during.

Schools, for their part, should do a better job at making those options available. Some institutions have already realized the growing importance of experience in career development. As a rule, most business schools require previous work experience when evaluating applicants. In terms of other professional schools, Northwestern University School of Law reports that about 90% of its students took one or more years out of school before starting their postgraduate studies. Even medical schools look favourably upon constructive extracurricular activities to gain practical experience.

But some graduate and professional schools don’t go as far to encourage gap years and work experience. As McGill’s Career Planning Service notes, “research graduate programs may be more challenging to get back into if you have spent many years away from the field.” But many

28

fields – including the arts and humanities – offer relevant opportunities within their field for graduating students, so it’s possible to make that time off productive. Taking a year off to work doesn’t mean taking a year off to work anywhere – it means considering work that advances your career. Students need better services to make them aware of these opportunities.

As it stands, many graduating students are left to fend for themselves. It’s a brutal job market; with double-digit youth unemployment, it’s hard to find the right internship or job, if any job at all. But unlike the job market, graduate programs always have a place for more students and students view these programs as one of the last places that will still accept them. However, just because they’re being accepted for something (and paying dearly for it) doesn’t necessarily mean the postgraduate path is a good idea.

We need a cultural shift in universities that prioritizes giving students as much experience as possible, even after graduation, not as much schooling as possible. The job boards and planning services we have today are only part of the way there. Let’s make work experience an integral part of graduation. For all students, but especially for graduating students, we need universities to offer more comprehensive job boards. These revamped listings would give graduating students a better footing for the transition into the next phase of their lives. Basic “student jobs” like tree planting and English tutoring don’t advance any futures – replace these dead ends with actual opportunities, even if they’re only volunteer positions.

Until universities improve their prospects for graduates, or even if they never do, it’s still your responsibility to be both daring and pragmatic regarding your career.

Daring in that if you find a good opportunity upon graduation – seize it. School will always be here; the opportunity might not. Pragmatic in that the financial cost of a graduate degree is best justified if you’re certain that’s the field you want to pursue. Neither piece of advice is groundbreaking, but both must be constantly emphasized.

The binary of in-school or out-of-school doesn’t represent all the opportunities out there. But a degree is a great path toward achieving any of them. To those who are receiving their diplomas this spring, congratulations – and good luck!

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

Opinion

#Selfie-pocalypse Peter Burge via Flickr

I

Self ies, soc ks, and somet hing about cancer?

Jennifer Yoon, Opinion Writer

t started innocently enough. Last week, the #nomakeupselfie campaign, which encouraged women around the world to take selfies sans mascara and lip gloss to raise funds for breast cancer research, generated £8 million for cancer research. As the #nomakeupselfie campaign went viral, criticism mounted: some viewed it as a vain and narcissistic attempt at self-validation, while others saw a sexist campaign perpetuating society’s skewed understanding of beauty.

The campaign took a turn for the indecent as more and more layers were stripped off the selfie-taker’s body.

Shortly after the emergence of #nomakeupselfie, the male equivalent started to creep into newsfeeds worldwide: #cockinasock. If #nomakeupselfie is about combating breast cancer, the #cockinasock selfie is apparently about combating testicular cancer. The gist of this campaign is simple: as the hashtag suggests, men worldwide take a selfie with only a sock to cover themselves, then encourage their friends to do the same via nomination. Oh yeah, and there’s something about cancer in there, too.

And so it came to pass: a wave of dudes, their hair coiffed and muscles flexed, posing butt naked in front of a mirror save for one article of clothing. Apparently, men are just as vain as women - who knew? As with its feminine counterpart, the #cockinasock campaign seems to have little to no relevance with the cause it is supposedly fighting for. How does a man with nothing but a sock on his penis (or a woman “braving” the world without the protection of foundation and eyeliner) relate to testicular cancer or breast cancer? More than donations for cancer research, participants, both male and female, seem to be fishing for likes and comments praising their bravado.

Though its vain and narcissistic causes cannot be de-

The Bull & Bear - April 2014

nied, neither can its concrete contributions to an important cause. The fact remains that the viral sensation raised £8 million toward cancer research. For all we know, these funds could save lives. Besides, the doctrine of the selfie trend itself is rooted in vanity: criticizing #nomakeupselfie or #cockinasock as self-centred is like criticizing a lake for being wet. In the face of such tangible evidence for the better, who are we to judge?

It would be delusional to celebrate the altruistic selflessness of our selfie-generation, but something else deserves to be celebrated. For once, men, instead of women, are being sexualized and objectified. Hear that, Jezebel? Men are stripping down, voluntarily and en masse on social networking platforms! There remains an important difference of course between this male sexualization versus the female one: while women are automatically and involuntarily objectified, these men are willingly undressing. It’s not surprising that the reception of the #cockinasock campaign has been largely lighthearted and superficial. I doubt there would be a similar reaction were women stripping down voluntarily for the same cause.

At very least, the #cockinasock campaign comes as a breath of fresh air to the growing debate on gender equality. The #nomakeupselfie and #cockinasock campaigns undeniably bring with them substantial good, but also bring a sardonic reminder that: whether we are fighting for a good cause or just pouting into a camera and flicking through photo filters, we can always find a way to make it all about ourselves.

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

29

Opinion

Redefining Feminism What does mode rn femi nism need ?

Jennifer Yoon and Aneri Nanavaty, Opinion Writers squirlaraptor via Flickr

I

’m a feminist. There, I said it. I don’t like saying it though. It scares me. To me, it’s like a murder confession, or yelling “bomb” or “terrorist” at the airport.

Maybe less dramatic, but it’s still a dangerous statement to make. Whenever someone says that they’re a feminist, a natural tendency is to immediately recoil in response.

We’ve all seen and heard of feminists who don’t shave or who don’t believe in the institution of marriage because they feel this robs a woman of her individuality. When you hear feminist in your head, you do not think of an independent woman standing up for equality. You hear a red alert signal going off in your brain. “Step away from the feminist.”

That’s why I dislike telling people I’m a feminist. I’ve heard stories of feminists who take things too far, and honestly speaking, they’re crazy. I recently read some of the work by Andrea Dworkin, an American radical feminist, who argued that all sex sums up to rape. Similarly, a popular example of feminist graffiti reads, “women have their faults, men have only two: everything they say and everything they do.”

A male colleague of mine recently pointed out that while he considers himself a feminist, he feels uncomfortable vocalizing this because it sometimes feels as though feminists hate men. Another colleague wittily remarked that feminists seem to be able to touch everything, yet no one can touch feminism. Radical feminism has become abrasive, rejecting entirely and aggressively any form of criticism – as a result, feminists are seen as a group of women with double standards whose arguments can be necessarily disqualified. This is the state of radical feminism today.

30

So you can understand why it’s hard to tell people you’re a feminist. You hear feminist, you think deranged monster who chews up men and spits them back out. The way radical feminists express themselves and their feelings has become problematic, because while their intentions may still noble and justified, their actions are not.

The word feminist has developed a negative connotation

You hear feminist, you think deranged monster who chews up men and spits them back out. and, as a result, feminists have become ostracized. The radical words and expressions with which feminists express themselves have backfired and led them to be misinterpreted and criticized. Even Andrea Dworkin didn’t mean to say that all sex is rape. But that’s the way it came out and that’s way it’s interpreted in our minds.

Don’t get me wrong: we need feminism now more than ever. For all the progress that women have made, the poisonous presence of patriarchal structural discrimination ­– a pattern of discrimination ingrained in societal structure for so long that it is continuously perpetuated

Opinion – persists. We’re not equal in the workplace: with every child we have, we are unfairly penalized roughly 7% in our wage. We’re not adequately represented in government: women make up a scant 21.5% of Parliament despite the fact that women make up 50.4% of the population. And we’re not taken seriously by the popular media, remaining frequent victims of hypersexualization and objectification.

We have attained legal equality, like suffrage and control over our wombs. But now we must move beyond simply legal equality – we require social equality between the sexes.

Feminists are angry for a good reason. I’m angry!

I don’t want to choose between a family and a career. I want to be judged on my intellect and abilities, not my superficial shell. We need change for the better, but that change can’t be achieved with radicalism, violence, and aggression. Feminist belligerence and hostility will never fix the problem, but instead serve to trivialize feminism.

Radical feminists are feminists who do more harm to the purpose of feminism than they do good. They’re sort of like the overeager kids interrupting a conversation between two adults – they think they’re helping, but they’re really not. There exists in our society a silent systematic inequality that feminists can do much to alleviate, but not all methods are equal. Male bashing won’t help - smart feminism will.

Today, feminists face a challenge far subtler, and therefore more difficult, than our feminist pioneers. We have attained legal equality, like suffrage and control over our wombs. But now we must move beyond simply legal equality – we require social equality between the sexes. As with anything else, however, different circumstances call for different tools. The tried-and-true formula no longer applies: rallies and parades may be most effective at improving legal rights for women, but legal

The Bull & Bear - April 2014

Denis Bocquet, Flickr

rights are no longer the most pressing inequality for Canadian women. To achieve true equality with men, we need a shift in the public perception of gender relations and gender roles beyond simple governmental policy.

Aggression may force change at Parliament Hill, but it does not persuade the masses on Main Street. Civility and compassion are what feminism needs.

Just because our old methods for achieving equality don’t work anymore does not justify feminists fighting hatred with more hatred. In the words of Martin Luther King, “darkness cannot drive out darkness; only light can do that.” We need to bring compassion, understanding, and civility back into feminism. We must be kind and ignite meaningful and civil discourse about sexism. We must redefine and reclaim what it means to be a feminist.

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

31

Hot

or

Not

Our guide to your next opinionated conversation

2048 It’s a completely justifiable break from studying - it has numbers in it

Voting in Quebec This service is not available in your region

EUS hosting 2016 Canadian Engineering Competition We like to imagine they compete on making the most elaborate Iron Man suits and fight to the death

Trudeau dropping the f-bomb When will he understand that you can’t f*cking swear in the media?

Game of Thrones Season Premiere Yes, we shamelessly put this as “Hot” at least once every year for the past two years #worthit

SSMU Election Shenanigans On April 1st? Too far SSMU, too far. The Beef & Beans disapproves

NCAA Final Four Do the thing, throw the ball, score the points!

HIMYM Finale The biggest letdown since that one night after high school prom

Spring Fashion Canada Gooses (Geese?) are being replaced with jean jackets and vintage scarves across the nation

James Franco’s Awkward Online Antics “Can I have yo numba?”