After 77 years, Eaton's ended its sponsorship of the Santa Claus Parade in 1982. When the cancellation was announced just weeks before the Parade, Metro Toronto Chairman, Paul Godfrey, approached a small group of Toronto business leaders to rescue the Parade. Among them were the Parade Co-chairs, Ron Barbaro and George Cohon, who spent days on the phone inviting Canadian companies to sponsor floats. Their actions ensured the Parade would survive, and that children in Toronto, and across Canada via televison, would continue to experience the magic of Santa.
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