Features
At age 83, Joan Druxman has come full circle in her career
By BERNIE BELLAN The February 21, 2001 issue of The Jewish Post & News had an article titled “It’s a Comedy Night!”
That article went on to describe an upcoming event in which State of Israel Bonds would be honouring Rabbi Alan Green. Among the comedians to be appearing at the event was to be “Joan Druxman-Jones.”
Now, 22 years later, State of Israel Bonds doesn’t have an office in Winnipeg, Rabbi Green doesn’t live here any more (although he will be returning this weekend as the Shaarey Zedek’s Rabbi in Residence during Shavuot) and, as for Joan Druxman-Jones, well, she is back in Winnipeg – after having left in 1990 – and after having had a tumultuous series of career changes throughout her life –and, after having dropped the Jones in her name and gone back to Joan Druxman.
Joan Druxman was the guest speaker at this year’s kickoff Remis Forum luncheon on Thursday, May 11, at the Gwen Secter Centre.
I had never met Joan prior to that Thursday, although advertisements for her well-known women’s clothing store, “Joan’s Boutique”, were a regular feature in our paper for years. Once she took the podium at the Gwen Secter Centre it was easy to see how Joan had been a successful model for years. She still maintains a shapely figure and, even at 83, Joan is quite an attractive woman. (Is it okay to say that, I wonder? Who knows what’s permissible nowadays to write about a woman – or a man, for that matter, when it comes to physical appearance?)
But, more than anything, what struck me in listening to Joan tell her life story was her ease in speaking, her quick wit, and her self-effacing sense of humour.
As Simone Cohen Scott noted in an email sent out to Remis Forum attendees (and, by the way, anyone can attend a Remis luncheon. Just let the Gwen Secter Centre know you’re coming by the Tuesday of that week’s luncheon. Call 204-339-1701.), I took “voluminous notes” while Joan spoke.
So, here’s my account of the story Joan told: Born in Winnipeg, Joan (whose maiden name was Zelcovich, she said), grew up in Estevan, Saskatchewan, and moved back with her family to Winnipeg when she was 15.
Joan explained why her father decided to move to Winnipeg. He had owned a successful hotel in Estevan, but many of the patrons of that hotel were rough-hewn oil workers from the area around Estevan. “My father wasn’t about to let those oil workers anywhere near his two teenage daughters,” Joan said. (She had a younger sister at the time they moved here.)
But, the summer before the Zelcoviches moved to Winnipeg, they spent part of that summer at Clear Lake.
There were a lot of Jewish girls at Clear Lake, Joan noted, but they snubbed here because of the way she dressed. “They thought I was a hick,” she said.
That fall though, when Joan began attending Kelvin High School, and she was introduced by the teacher to the other students, the other girls couldn’t wait to be her friend, Joan said. This time she was dressed to the nines, she noted – something that has been very important to her ever since, she also observed.
As she noted toward the end of her talk, “I firmly dress the way you want to be treated.”
But from where did get Joan derive her impeccable fashion sense?
“My mother subscribed to the New York Times Magazine. It was the Vogue of the day,” she said.
Sure enough, when she was only 16, Joan got her first job working at the Mirror Room in the Hudson Bay store while she was attending high school.
After attending Kelvin for a couple of years Joan decided to attend the University of Manitoba. (In those days, she explained, you could take Grade 11 at the university.)
As things turned out, however, and as Joan observed, university was not for her.
“I hated it like you can’t imagine,” she said. “When I got 17 in Biology I knew university was not for me.”
So, Joan decided to enroll in the Angus School of Commerce (which was owned by Janice Filmon’s father at the time) where she obtained her diploma in typing and shorthand. “I was a wiz on the Dictaphone,” she noted.
But, she had to find a job after graduating. “I saw an ad for a company called Gunn Garment, which was owned by Harry Silverberg and Dave Kaufman, and which was managed by Max Duboff.”
“I became Max’s secretary and house model,” Joan said. “That’s how I became a model.”
It was during her time at Gunn Garment that Joan was introduced to the man who was to become her husband, Winnipeg Blue Bomber George Druxman.
“Marilyn Trepel called me up and told me someone had seen me at a wedding. Would I like to meet him? He’s one of the Blue Bombers,” Marilyn said to Joan.
As a Bomber wife, Joan was asked to appear on a local television show along with other Bomber wives where they would each be asked to cook a favourite dish.
“I made blintzes,” Joan noted.
As luck would have it, “two guys from Manitoba Sugar saw me and asked me to do a regular cooking show on TV.”
It was while appearing on her own cooking show that an editor of the Winnipeg Tribune asked Joan whether she would like to become food editor of that paper, and shortly thereafter, the fashion editor as well.
The next step in Joan’s career came when she was asked whether she would like to become the fashion coordinator for the Hudson’s Bay Company in Winnipeg, Saskatoon, and Regina, also the manager of the Fashion Room in the Bay.
But, as Joan recalled, “at the time the Bay fashions were all centrally coordinated. I hated them all. I decided to go out on my own.”
Thus began the longest segment of Joan’s varied career: as owner of Joan’s Boutique.
It was no simple matter, however, for a woman to strike out on her own in a business at that time, which was in 1976
Having been divorced from George Druxman (who died in 1999), Joan was mother of three boys at the time: Trevor, Greg, and Adam. Two of the boys were married by then.)
“I wanted to set up in an old house,” she recalled.
“I went to see a bank manager who said to me: ‘I’ll have you know fashion retailing is the riskiest business there is.”
Not one to be discouraged, however, a former classmate of Joan’s from Kelvin, Brian Aronovitch, told her there was a house at 34 Carlton owned by lawyer Ken Houston – who wanted to rent out part of the house.
At the same time Joan was introduced to another bank manager who was supportive of her dream of opening her own boutique.
“I opened Joan’s in 1977,” she observed. “Business just took off. It was bursting at the seams.”
Ever on the eye for another opportunity, it was while out for a walk in the neighbourhood of the Carlton store that Joan said she saw a rooming house for sale at 22 Edmonton.
“It was a tax sale,” Joan noted. And so, in 1979, Joan Druxman opened Joan’s Boutique at her new location on Edmonton, where she was to remain for the next 13 years.
“I gutted it and had clothing and accessories on the first and second floors,” she said, “with a hairdresser on the third floor.”
Ever restless, however, Joan decided to move to Vancouver in 1990.
“I saw things there that weren’t happening in Winnipeg,” she observed, including a very large Japanese population.
Joan opened her first store in Vancouver at the corner of 12th and Granville, but soon she came across a better opportunity at Berard and Granville. She approached a former friend from Winnipeg, Karen Simkin, who had also moved to Vancouver and who had opened a little gift shop.
“I invited Karen to move to that new location with me,” Joan said.
Karen’s husband, Garry Simkin, was fully supportive, and so the two women opened a store that was a combination clothing and gift ware store.
As mentioned though, Joan had taken note of how many Japanese tourists there were in Vancouver. Accordingly, as she explained, “I went to Simon Fraser University and learned how to read and write Japanese” so that she would better ingratiate herself with Japanese customers.
Things were going along well until their landlord told Joan and Karen that he was going to be raising the rent to $250,000 a year. (And remember, this was the 1990s. One can well imagine how exorbitant that amount would have been back then.)
So – another career switch for Joan was in the offing: “I decided I’d like to be an actress,” she observed. At the same time she started doing stand-up comedy (as noted at the beginning of this article.)
Ever eager for new challenges, however, Joan decided to apply for a green card and move to Los Angeles –where she began studying acting while working for Nordstrom’s.
“I also got my California real estate license,” she added.
But this was all before Obamacare, Joan noted. “Medical insurance was costing me $1500 a month.”
Joan decided to move back to Winnipeg where, once again, she opened “a little store.”
In 2020, however, with the onset of the Covid pandemic, Joan found she “couldn’t get stuff from Europe” and, as a result, she had to close her store.
“So, I walked into the cosmetics department of the Bay (Polo Park store) and said, ‘I want to see the Chanel manager.’ “
As luck would have it, that manager happened to need someone at the Chanel perfume counter and Joan was hired on the spot.
Which brings us full circle to where Joan started when she only 16 – working again at the Bay.
“Here I am at the Bay working five days a week – and loving it,” she said. “Without a bank manager, without a landlord, and without the tax man.”
But, as Joan observed, she still dresses to the nines – even though now she takes the bus to work. (It stops right in front of her apartment and drops her off right at work, so why not?)
As she noted though, you can imagine the looks she gets from other passengers who see an immaculately dressed woman getting on their bus every day.
One time, Joan said, her regular bus driver asked her: “Are you a celebrity?”
Joan told him she wasn’t, but one day that bus driver happened to be shopping at the Bay with his wife when he spotted Joan at the Chanel counter and said to his wife: “I know her. She rides my bus.”
That’s Joan Druxman for you – more twists and turns than a Gerry Posner story. Some day she ought to write a book. Hey, there’s an idea for her next career move!
Post script: We were informed that the day after Joan Druxman spoke at the Gwen Secter Centre she was involved in a terrible accident when she was coming out of work at the Bay.. It seems that Joan was caught in the midst of a situation where some young boys had been fleeing the store after having stolen some jeans. One of them ran into Joan, knocking her to the ground – which broke her hip. At last report she had undergone hip replacement surgery and had been released from the hospital.
Features
Exchange Rate Factors: What Global Events Mean for Savvy Investors
When Russia invaded Ukraine in 2022, it created ripples in all financial markets, including currency markets. The Euro weakened while the dollar surged and emerging market currencies wobbled. Global factors can quickly affect financial markets and shake established trends. Apart from such rare events, currencies tend to change their price because of interest rates, inflation, and overall investor confidence. For investors managing money abroad, understanding these movements is critical to avoid losses and mitigate risks.
Below, we will break down how global political, economic, and cultural events influence exchange rates, with insights for savvy investors.
Economic factors
There are several key exchange rate factors with a consistent history of shaking financial markets. These factors include inflation, interest rates, trade balances, employment rates, and so on. Since economic factors are shaping markets almost daily, we start with those.
Inflation and interest rates
Inflation and interest rates are closely connected as one can easily affect the other. When inflation rises, central banks step in and raise interest rates to reduce inflation, and when inflation is lower, central banks can lower interest rates to make borrowing money cheaper. As a result, investors closely monitor these two metrics to anticipate changes in interest rates. Higher inflation makes currencies weaker, and whenever banks change the rates, the changes are immediately reflected in global currency rates. In the United States, the Federal Reserve is the central bank that sets interest rates in the country.
Trade balances and economic growth
A country that exports more than it imports has a stronger demand for its currency. More demand equals a stronger currency. However, the Japanese yen was always weaker against the dollar because the BOJ of Japan tends to have super low rates near 0 to support its exporters. Economic growth also increases demand for local currency as more investors try to invest in the country’s economy. Long-term investors often track this data to detect early signs of any changes in currency strength.
Political and geopolitical factors
Elections, sanctions, and overall political stability are also crucial factors. If the country gets under sanctions, its economy crumbles and its currency becomes inflationary, losing its value quickly. Elections are also crucial for a currency’s strength. Geopolitical events can have a serious impact on the currency as well. The most obvious example is the 2016 Brexit events that made GBP lose its value rapidly and violently. Global conflicts, such as wars, can seriously impact global financial assets, especially currency markets. When tensions are high, safe-haven currencies like USD and CHF (Swiss Franc) become very popular among investors as they seek a safe place to protect their capital.
Cultural and social factors
People like tourists, workers, and diaspora communities can shape currencies as well. Tourism usually drives seasonal demand, and countries that are popular destinations during certain seasons experience their currency appreciation as demand spikes. The perception matters as countries seen as safe and opportunity-rich tend to attract more investors, solidifying their currency strength.
Technology and innovation
Technology is seriously affecting everything, especially the financial sector. Digital payment systems, blockchain technology, and fintech startups have made it easy and swift to move money around. Cryptos and stablecoins enable investors to protect their capital using stablecoins during volatile times. The latest trend among banks is to work on CBDCs, which signals a new era where national currencies are blended with technology and blockchain. Despite this, currencies, even in their crypto form, will continue to be influenced by all major factors mentioned above, and knowing how these factors impact your currency is key to keeping your capital safe from risks.
Practical lessons for savvy investors
So, what do all these factors teach us about global currency rates and investing strategies? The key lies in proper preparations and anticipation. Monitoring macro trends, policy announcements, and major geopolitical and political developments is critical.
Diversify
The number one method which is used by professional investors is diversification. This simply means to spread your risks across a basket of assets. By not investing all your capital in one instrument, you can mitigate risks. If one asset experiences a loss, other ones will counter it with returns. Building a diversified portfolio is key to properly diversifying. For example: divide your capital to buy stocks, commodities, currencies, and cryptos so that if one fails to perform, others will counter it. This ensures a stable income without unnecessary losses in the long run.
Hedge
Forex options and ETFs are great hedging assets. Forex options let investors lock in an exchange rate for a future date, which is very useful if you expect volatility but want stability. Currency ETFs, on the other hand, track specific currencies or a basket of currencies and allow easy trading or protection without trading forex directly, but they are still risky.
Monitor the economic calendar
Economic calendar is a free online tool that aggregates important macroeconomic news data such as interest rate decisions, CPI, inflation, employment rates, central bank announcements and speeches, and other crucial information. By monitoring them, investors can always know when important news data will be released, and they can postpone their investment decisions to avoid volatile times and only invest after the main trend is determined.
Features
The Canadian Dollar is on a slow decline. Should you save in euros or US dollars instead?
The Canadian dollar has been losing its value against the dollar this year. For Canadians, this raises a simple question: if your CAD is losing ground, is it better to move savings into euros or U.S. dollars, especially bonds, stocks, or a carry-trade strategy? Carry-trade strategy in this context means to borrow in CAD and invest it in the USA or the EU zone. This is a complex matter, and to understand where the CAD is, how attractive other currencies might be, we need to analyze these currencies more deeply. Below, we will walk you through the data, practical costs, and risks so you can reach a usable conclusion after reading this guide.
Quick snapshot – What the markets say right now
Recently, the Canadian dollar has hit multi-month lows due to weaker oil prices and a post-Fed (U.S. Federal Reserve) market reaction (which raised the rates, making the CAD weaker against the dollar). Canada’s central bank has cut its policy rate to 2.25%, while the Fed’s fund rate remains notably higher at about 3.75-4%. The ECB (European Central Bank) main interest rates are lower than the Fed’s and near the low-to-mid 2% range. While the Euro currency to USD rates remain mostly predictable, due to higher US bond yield rates, the EUR remains stronger, still. The U.S. 10-year Treasuries are around 4.1%, Canada’s 10-year near 3.2%, and Germany’s 10-year around 2.7%, meaning that today the USD-denominated bonds have the highest nominal yield among the three. As a result, the dollar seems much more attractive when it comes to bond yields and stocks.
Bonds – Which currency is the best for fixed income?
The short answer is: USD bonds. When it comes to nominal yield alone, US bonds beat almost all other competitors. U.S. government bond yields (10-year) are noticeably higher than Canadian and German/Eurozone bond yields right now. As a result, US bond buyers have more income potential than Canada and the EU. Euro-area core yields are lower, meaning they are paying less than the USA.
However, nominal yield does not mean it is guaranteed real return, and metrics like inflation, currency rates, and hedging costs can impact potential returns directly. If you buy USD bonds but the dollar falls against the CAD, currency losses will most likely wipe out the higher yield rate. If the Fed lowers its rates, it will make the dollar weaker against the CAD and EUR.
Another challenge is that, if you live and spend in Canada, you are using CAD, and when exchanging it for dollars, you get exposed to foreign currency rate risks, which must not be underestimated.
Stocks – Euro or dollar?
Both the EUR and USD have their advantages. USD has strong liquidity and strong long-term performance, while EUR equities offer valuation opportunities and recent relative strength.
Why USD?
The U.S. market remains the most liquid stock market with strong earnings for many tech and large companies. This makes USD stocks very attractive for long-term-oriented investors. S&P has been rising historically, and even after crashes, it often recovers its value relatively quickly.
Why EUR?
European indexes have performed well this year and in many cases cost less than their U.S. counterparts. While cheaper does not always mean better, these indexes still have some growth potential. Some major banks in the EU zone, together with industries, have recovered strongly with a recent focus on military manufacturing, making many EU stocks very attractive, together with local indexes.
However, here is a caveat: if you are using CAD daily and it loses its value against the euro, the returns from euro holdings might shrink, exposing you to greater currency risks.
Carry-trade analysis – Is it viable to borrow CAD and invest it in USD or EUR?
The basic promise of carry-trade is simple yet powerful: you borrow cheaper currency and invest it in currencies with higher yields. In our case, is it lucrative to borrow in CAD and invest in either EUR or USD? To answer this question, we need to look at numbers. BoC policy rate is 2.25%, Fed funds from 3.75%, U.S 10-yr is 4.1%, Canada 10-yr is 3.2%. If we deduct Canadian rates from the U.S. rates, we get around 1.8% positive before costs. So, in theory, it could be lucrative to invest CAD in USD assets using a carry trade. Since the ECB has around 2%, it is not profitable to use a carry-trade strategy for the euro.
The bottom line
While the CAD has been weakening lately, it is still not cheap enough to naively invest in USD or EUR. However, if you want a pure yield and can tolerate foreign exchange rate risks, USD bonds are more attractive today. When it comes to stocks, USD equities provide stable and liquid markets. If you want valuation potential and diversification, then euro equities have become more attractive this year. When it comes to carry-trade strategies, the USD remains more lucrative than the euro, but on paper, traders and investors should evaluate all the risks and costs before investing in any currency.
In the end, Canadians who have CAD for their daily costs should be careful when trying to get exposure to other markets. US bonds, US stocks, US carry-trade, and EU stocks remain attractive choices for experienced investors.
Features
Why Reading Online Reviews Matters Before Making a Purchase
People usually pause before purchasing to read reviews from other customers. It’s become part of everyday online life, a quick way to see how something really performs before making a decision. According to the Pew Research Center, most internet users read reviews to get a better idea of what they’re buying. The feedback from actual users becomes more reliable than marketing statements because it comes from everyday consumers instead of sales-oriented corporate messages.
Reading reviews also helps spot patterns. If the same comment, good or bad, appears again and again, it usually means there’s truth to it. People now use this collective feedback as their main method to evaluate online products and services for quality and reliability.
When There Are Too Many Options, Reviews Narrow the Field
Shopping online can be overwhelming and a bit of an adventure. There are always more options than anyone needs, hundreds of gadgets, countless household tools, endless entertainment subscriptions. All listings present themselves as excellent value propositions with operational excellence, yet it remains a bit of a challenge when it comes to verifying which ones deliver actual results.
Reviews become useful at this point. Real users provide information about product details, which marketing content fails to show, by sharing their experiences about delivery speed and setup ease and product durability after several months of use. The product details show its operational behavior when used in regular business activities.
Users tend to begin with reviews. For instance, a tech product might have amazing packaging but fall short on battery life or integration. Maybe a new game or casino platform might sound promising, and reviews on trusted choices can confirm whether it includes flexible payment options, a wide content library, and responsive support. When feedback keeps mentioning strong points like clear instructions or helpful customer service, it shows consistency. The product or service delivers its expected results because customers have personally seen its performance.
Reviews Build Faith Through Shared Experience
Reviews gain their strength from the emotional bonds which readers find with each other. Reading about someone else’s experience feels familiar, even if you don’t know them. It’s basic word-of-mouth marketing, like receiving recommendations from a neighbor who has already purchased the item you are considering.
This shared experience has built an informal community of online voices. People rely less on what a brand claims and more on what other users notice. When different reviewers mention similar strengths or small frustrations, it adds authenticity. The story becomes more believable.
Reviews show what other users have experienced, but they do not offer any guidance about what to do. This type of his collective info turns into an important part of how people build trust online. It’s a small thing, but it makes a big difference in how confident we feel about the choices we make.
Balanced Feedback Feels More Honest
A perfect score does not prove that something lacks any imperfections. A combination of positive and less-than-perfect feedback creates a more authentic impression. Small complaints about packaging or delivery delays make glowing reviews sound real. A recent study showed that participants answered honestly instead of trying to make their responses attractive to others.
Most readers know that nothing works flawlessly all the time. People look for reviews which provide both positive and negative aspects because they want to find balanced opinions. Customers can establish realistic purchase expectations through combined information which they can apply before buying. Review systems maintain their value because reviewers maintain honesty in their assessments.
Why Recency and Volume Matter
The best reviews and product ratings are the ones written recently. They reflect how a product or service performs right now, not how it worked a year ago. Things change, materials, delivery services, and even the way companies handle support.
A steady flow of new reviews suggests consistency. When lots of people share their experiences over time, patterns appear. Those patterns tell readers what’s typical, not just what’s possible. It’s the difference between one person’s lucky experience and a reliable average that others can count on.
Quantity matters too. Ten balanced reviews from this month will usually tell more than a single five-star comment from last summer. Together, recency and volume create a clear picture of reliability and quality without relying on assumptions.
Recognising Genuine Reviews
Not every review online is authentic, real, and written by a consumer. Some are written by automated accounts or people hired to post positive comments. Real feedback tends to sound natural and personal. It might mention something specific like the texture of a fabric, how easy the setup was, or whether support staff replied quickly.
Authentic reviews vary in tone and detail. Some are short, others long, some are full of small observations. That mix of styles feels human. On the other hand, copied or fake reviews usually repeat the same phrases or sound overly polished.
Many websites now try to identify and label suspicious posts, but readers can also help by paying attention to repetition, timing, and tone. A quick scan across different platforms usually reveals what’s genuine and what’s not.
Reading Smarter in the Online Marketplace
Reviews have become a solid foundation for how people make decisions online. They give an honest view of how something performs beyond what’s written on the label. Every comment, short or long, adds another piece to the puzzle.
More than that, reviews show how businesses handle problems, how quickly they respond, and whether they follow through on promises. They offer accountability in a world where shoppers and sellers rarely meet face to face.
Reading a handful of reviews won’t guarantee a perfect experience, but it provides helpful context. It shows what’s typical and helps people make choices with more confidence. In an online world full of noise, reviews remain one of the easiest and most reliable ways to learn from others.