As far as I can tell, Pride Group is not associated with LGBTQ+. At least, the article didn't suggest they are.
this post was submitted on 31 Mar 2024
34 points (92.5% liked)
Canada
7185 readers
468 users here now
What's going on Canada?
Communities
🍁 Meta
🗺️ Provinces / Territories
- Alberta
- British Columbia
- Manitoba
- New Brunswick
- Newfoundland and Labrador
- Northwest Territories
- Nova Scotia
- Nunavut
- Ontario
- Prince Edward Island
- Quebec
- Saskatchewan
- Yukon
🏙️ Cities / Local Communities
- Calgary (AB)
- Edmonton (AB)
- Greater Sudbury (ON)
- Halifax (NS)
- Hamilton (ON)
- Kootenays (BC)
- London (ON)
- Mississauga (ON)
- Montreal (QC)
- Nanaimo (BC)
- Oceanside (BC)
- Ottawa (ON)
- Port Alberni (BC)
- Regina (SK)
- Saskatoon (SK)
- Thunder Bay (ON)
- Toronto (ON)
- Vancouver (BC)
- Vancouver Island (BC)
- Victoria (BC)
- Waterloo (ON)
- Winnipeg (MB)
🏒 Sports
Hockey
- List of All Teams: Post on /c/hockey
- General Community: /c/Hockey
- Calgary Flames
- Edmonton Oilers
- Montréal Canadiens
- Ottawa Senators
- Toronto Maple Leafs
- Vancouver Canucks
- Winnipeg Jets
Football (NFL)
- List of All Teams:
unknown
Football (CFL)
- List of All Teams:
unknown
Baseball
- List of All Teams:
unknown - Toronto Blue Jays
Basketball
- List of All Teams:
unknown - Toronto Raptors
Soccer
- List of All Teams:
unknown - General Community: /c/CanadaSoccer
- Toronto FC
💻 Universities
💵 Finance / Shopping
- Personal Finance Canada
- BAPCSalesCanada
- Canadian Investor
- Buy Canadian
- Quebec Finance
- Churning Canada
🗣️ Politics
- Canada Politics
- General:
- By Province:
🍁 Social and Culture
Rules
Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage:
founded 3 years ago
MODERATORS
That’s what I’m here for.
Although a queer trucking company would have been really cool.
The only reason I read the article was to figure out why LGBTQ+ was going broke in Canada. Given that (as near as I can tell) "Pride" has been associated with LGBTQ+ (or their historical analogs) since about the 70's, that's quite the name for an unaffiliated company.
My first thought was that it was a white supremacist organization, and was curious how they'd racked up so much debt.
A number of years ago, 'pride' was a word used for other things too. Even a group of lions is a pride; and Prince sang of it in Purple Rain.
#theMoreYouKnow #whenTheChildrenCry
"Along with Mitsubishi HC Capital, more than 20 other lenders have filed claims totaling $637 against Pride Group, according to filings with the U.S. Bankruptcy Court for the District of Delaware."
I know it's a nitpick, but I don't like when articles just leave out the million in a sentence like this. C'mon, editor... numbers are important.
This kind of makes sense; this industry has seen a lot of debt-fuelled M&A over the last few years, and it tends to be a very debt-fuelled industry anyway (floating lines of credit, vehicle leases, etc), and with interest rates rising, the cost to service that debt comes right off the bottom line.
What will be interesting, in the Chinese "May you live in interesting times" curse sense of the word, is if this were to happen to TransForce, which has eaten most of the industry.
Also, our overlords are desperately trying to avoid this happening to real estate, by the way. A huge amount of that is just a debt-fuelled house of cards.