Canadian Tire to boost sports banner by buying highend Pro Hockey Life

CALGARY — Canadian Tire subsidiary FGL Sports Ltd. announced Wednesday that it plans to buy privately owned Pro Hockey Life Sporting Goods Inc. for $85 million.Pro Hockey Life has 23 urban, high-end hockey stores operating in five provinces across Canada and boasts annual revenues of about $95 million.The transaction follows Canadian Tire’s successful acquisition of FGL Sports in 2011.Upon conclusion of the transaction, Pro Hockey Life will operate as a banner under FGL Sports, joining others such as Sport Chek and Sports Experts.“This acquisition is a natural extension of our core authority in sports and hockey and Pro Hockey Life will be an excellent addition to our family of great Canadian companies,” said FGL president Michael Medline.Pro Hockey Life president Scott Jackson said his company sees “a bright future as part of the Canadian Tire family and I have no doubt that the company will reach even greater heights within FGL Sports.” read more

Annan urges Israel to withdraw backs Powells mission all the way

“The whole world is demanding that Israel withdraws – I don’t think the whole world, including the friends of the Israeli people and Government, can be wrong,” Mr. Annan told reporters in Madrid, where today he opened the UN Second World Assembly on Ageing.”So I appeal to Prime Minister Sharon to heed the call, and move ahead with the implementation of the resolution,” he stressed, referring to Security Council resolution 1402. “Of course the resolution also makes demands on the Palestinian leadership and I urge them also to honour that,” he added.”I think what is happening in the region, both Israel and Palestine, is a very painful thing for all of us to see the human tragedy and I also regret to say that the longer this goes on, the more it erodes the moral and political position of Israel in the world and I hope that Prime Minister Sharon would bear that in mind as well,” the Secretary-General said.Describing the tragic humanitarian situation, Mr. Annan said, “it is really very, very serious when you consider that a large number of people are without water, they are short of food and medication, and the humanitarian workers, from Red Cross to Red Crescent to UNWRA [UN Relief and Works Agency for Palestine Refugees in the Near East], do not have a freedom of movement.”The Secretary-General voiced full backing for the forthcoming visit to the Middle East by United States Secretary of State Colin Powell. “We are solidly with him and I hope he will have a successful mission,” said the Secretary-General, warning, “It’s not going to be easy.””He doesn’t have a magic wand, so we should not expect miracles,” Mr. Annan stressed. “It’s a tough mission but we will be with him all the way.” read more