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Ticketmaster Issues Tim Hortons Offers Rewards for Class Action Settlement: CBC’s Marketplace Cheat SheetFGN News

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How does Ticketmaster get away with charging so many fees? It’s complicated

If you’ve attended a single prom in the past few decades, you’ve probably spent some time trying to answer the above question about Ticketmaster pricing.

While it spans nearly all of the founding of the ticket seller, it has more recently been centered on Bruce Springsteen. Two weeks ago, after spending hours waiting in a digital queue for tickets to his next North American tour, many of the President’s fans came face to face with all that was left: “Dynamic Price” tickets — which change up and down on demand — up to $5,000 American, with all tickets of modest face value long gone.

Alarmed by Ticketmaster’s market dominance and lack of transparency, Springsteen fans are clamoring to know why the seemingly inconsequential giant ticket prices.

Watch | The Exorbitant Cost of Seeing the President:

Springsteen fans express anger at Ticketmaster’s ‘dynamic pricing’

Bruce Springsteen fans were shocked to see ticket prices as high as $5,500 for his upcoming tour. At the center of the controversy is Ticketmaster’s “dynamic pricing” policy, which automatically increases certain ticket prices when demand is high.

But on a closer look, their frustrations aren’t new – they’re just a symptom of a monopolistic industry and the complex nature of ticket sales.

Pascal Corti, professor of economics at the University of Victoria, believes that dismantling the Ticketmaster monopoly will help create incentives to solve some of these problems. But Shiraz Mwani, an independent ticket broker and YouTuber in Toronto, says it’s not quite that simple.

Moaney said that while the company could assuage fan anger by making it “trusted fans” who somehow don’t find themselves on a webpage offering dynamic pricing after hours of waiting, the problem will persist regardless of whether Ticketmaster shrinks or grows.

“You will always have this problem,” Mwani said. “There will always be this discrepancy between how much someone is willing to pay at face value versus what someone is actually going to pay, versus market value.”

Ticketmaster did not respond to a request for comment from CBC, and both Ticketmaster and the Springsteen team have defended the dynamic pricing model. Read more

Tim Hortons wants to settle class action lawsuits with a brand-specific solution: free coffee and cake

Tim Hortons says it has reached a proposed settlement in multiple lawsuits alleging that the restaurant’s mobile app violated customer privacy, causing the restaurant to offer free coffee and donuts to affected users.

The proposed settlement follows an investigation by federal and provincial privacy watchdogs that found mobile command app Tim Hortons in violation of the law by collecting massive amounts of location information from customers.

In a report last month, privacy commissioners said that people who downloaded the Tim Hortons app had their movements tracked and recorded every few minutes — even when the app wasn’t open on their phone.

The company says the settlement, which was negotiated with the legal teams involved in the lawsuits, still requires court approval. Read more

A pot of Tim Hortons coffee sits on a hot plate in a coffee shop.
A proposed settlement from Tim Hortons follows an investigation by federal and conservative privacy watchdogs that found the company’s mobile ordering app violated the law by collecting massive amounts of location information from customers. (Chris Young/The Canadian Press)

Inflation eats up family budgets. Here’s how to avoid some of its worst effects

From childcare and housing to food and vacations, we’ve all noticed the effects of higher inflation this year.

But how can we keep our budgets balanced even as prices rise across the board?

Scott Hannah, CEO of the Credit Counseling Association, suggests that with costs ballooning, some sacrifices may be necessary.

A good place to start is to analyze what might be getting rid of your family’s budget, or replacing it with cheaper alternatives. It is also suggested to use the coupon application to buy groceries.

“Late at night while you’re bottle-feeding or breast-feeding your baby, flip the Flipp app and find some deals and match prices when you’re at the grocery store.”

Hana says buying in bulk is another option, as smaller families team up with larger families. Shoppers can also take advantage of loyalty points and redeem brands for generic brand names. It may be wise to have a slightly awkward conversation with family members to lower expectations of holiday gifts.

“No one wants to receive a gift from someone who cannot give it,” he said. Read more

Do you have a swell story you’d like to share? Email us at [email protected]

Two people wearing masks check school supplies in the aisle of a store.
From inflated grocery bills to expensive extracurricular activities, people across the country are facing increases in cost of living and inflation. (Marta Lavander/The Associated Press)

As major investors eye Canada’s housing market, advocates worry that individuals will not be able to compete

Can large investment firms intending to buy homes in Canada make it difficult for the average Canadian to buy their first home?

These companies have become the biggest new buyers of US homes — and advocates fear the consequences for individual buyers if and when the companies move to Canada.

Christopher Alexander, president of ReMax Canada, said the trend of money managers to buy single-family homes to rent is a “new phenomenon” for the Canadian market. He thinks the idea could spread here as it is south of the border, especially given the recent price drops.

“The lower the purchase as an investor, the greater the opportunity to sell at a high price,” Alexander said in an interview.

“They are well capitalized, they are smart and they have the means to make an impact in the market.”

Meanwhile, advocacy groups fear that families will not be able to compete with money managers who have billions of dollars in assets. Read more

A man in a face mask wears a cardboard house on his head over a bicycle helmet.
A man wears a cardboard house on his head during a demonstration calling for affordable housing in Montreal last year. Private equity firms are now the biggest buyer of homes in the United States, worrying advocacy groups who say families can’t compete with money managers with billions of dollars in assets. (Graham Hughes/The Canadian Press)

What also happens?

Toronto’s Pearson Airport has a PR problem: it’s known as the worst airport in the world
Some tour groups fear that travelers may choose to bypass Toronto.

After the big resignation, where have all the Canadian workers gone?
Stories from across the country tell of people who left their jobs during the pandemic and turned to new jobs, education and priorities.

This is why all your social media are trying to be TikTok now
Social media giants like Facebook and Instagram are trying to catch up to TikTok’s dominance of videos, and users are not liking it.

The market needs your help

Do you like shopping in malls? What draws you to the store and makes you browse? Tell us about your favorite stores and why! If you’re into GTA, we may take you shopping with us for an upcoming episode! Email us at [email protected]

Getting stuck in a long line at the grocery store is one thing, but what about healthcare? Tens of thousands of Canadians are waiting for surgery, and for many, as that wait continues, so does pain and suffering. Email us with stories of waiting time for surgery at [email protected]

Watch previous episodes of the shop on me CBC Gem.

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