$52.8 million to develop the social economy - Launch of the Chantier de l'économie sociale Trust
The Chantier de l'économie sociale Trust will administer a $52.8 million patient capital fund for Québec's social economy enterprises. The Chantier de l'économie sociale and investors made the announcement in Québec City today. The Chantier de l'économie sociale Trust will draw on an unprecedented financial partnership comprising private and public funds to provide social economy enterprises (cooperatives and non-profit organizations) with innovative financial vehicles. The Trust's initial capitalization comes from several partners. Canada Economic Development is contributing $22.8 million, the FTQ's Fonds de solidarité is investing $12 million, the Québec government is investing $10 million, and Fondaction, le Fonds de développement de la CSN pour la coopération et l'emploi, is contributing $8 million. This initiative is the fruit of a long process initiated by the Chantier in order to meet the capitalization needs of collectively owned and run businesses.

Getting your BACC
For many Montrealers, Mayor Gérald Tremblay's proposed name change for Parc Ave. to Robert-Bourassa was the last straw. Ironically, the very day Quebec's toponymy commission in Quebec City is scheduled to hear arguments for and against the change (Jan. 16), Montreal's Centre for Community Organizations (COCo) will host a one-day conference on how best to tackle the City of Montreal. "The rumbling started after the municipal mergers and de-mergers," says conference organizer Sarah Blume. "The City of Montreal was already difficult to deal with, but with all the changes, it's just gotten worse for citizens and community organizations trying to get things done."

'Fatherland. Socialism or death -- I swear it'
Echoing Fidel Castro's cry of "socialism or death," President Hugo Chavez was sworn in for a new six-year term yesterday, promising to accelerate Venezuela's transformation into a socialist state. Chavez took the oath of office at the National Assembly after a sweeping re-election victory that has given him free reign to pursue more radical changes, including plans to nationalize power and telecommunications companies. His right hand raised, Chavez declared: "Fatherland. Socialism or death -- I swear it," invoking the Cuban leader's famous call to arms. Chavez also alluded to Jesus, saying: "I swear by Christ -- the greatest socialist in history." In a speech that followed, he said the central aim of his third term that runs until 2013 will be "to build Venezuelan socialism." "I don't have the slightest doubt that is the only path to the redemption of our peoples, the salvation of our fatherland," he told applauding legislators. Chavez has said he believes that socialism -- not capitalism -- is the only way to guarantee the general well-being of people, not only in Venezuela but over the entire world.