EntraPass sEcurity softwarE manage any number of doors, users and schedules securely, quickly and efficiently Contact Optinet Systems today for a demo: sales@optinetsystems.com
SYSTEMS INC.
The Vancouver Board of Trade is a supportive group where I am inspired and encouraged.” Rain Emily Zhang, pg. 5
THIS ISSUE Historic Stock Exchange redevelopment · 2 Transportation 2040 · 2
A runway for economic growth Air access creates jobs and facilitates trade in B.C.
Community Heroes · 3
By ken martin
TransLink priorities · 3
Canada is a large trading nation. Not one single economic activity adds more to our nation’s GDP than trade, and B.C. is at the heart of it. Anchored with Canada’s second largest airport and North America’s largest export port, 175,000 jobs in British Columbia are connected to the Pacific Gateway. The recent dialogue on trade has focused on rail, water, and road infrastructure. In the past 10 years, we have done much to add to the capacity of our ability to service overseas customers. While potash, lentils, wheat, car parts, and lumber move by truck and rail — and while energy moves through pipelines and wires — the relationships that get those contract orders filled are moved by air travel. Over the last 50 years, Canada has embarked on a series of talks with foreign countries, negotiating airline landing rights in Canada. In exchange for those landing rights, Canadian carriers were now able to land at foreign airports. However, at the time many of those agreements were signed, it wasn’t contemplated that Vancouver should be included in those agreements. As a result, our domestic carriers have landing rights at many foreign ports of call, while some of those foreign national carriers
CEO’s Message · 4 Employee engagement · 6 The gift of giving · 9 Season’s Greetings · 10-11 Salary surveys · 12 BMO’s 125th · 14 The outlook for gold · 16 Marketing trends · 17 Holiday performances · 18 European perspective · 19 @boardoftrade /VancouverBoardofTrade
boardoftrade.com
December 2012 • VOLUME 52 • NUMBER 9
LONDON SERVICES We fly onAIR your schedule. 34763 Your priorities can change quickly, HH 5.00 so wexfly1.400 when you need to. Events Calendar No waits, no line-ups, no hassles.
The Vancouver Board of Trade is making air access one of its top public policy priorities for 2013. Every time a foreign airline adds a new route to Vancouver International Airport, it has a $200 million annual impact to the Canadian economy. Photo by Larry Goldstein.
don’t have landing rights at Vancouver International Airport. The significance of this is our domestic carrier now has monopolistic control over certain routes leaving Vancouver to foreign ports of call and their return flights. Beyond the obvious issue of lack of competition and the impact that has on ticket prices, flights from Europe transiting to Asia, or flights from Asia transiting to the U.S., are not choosing Vancouver as a transit hub. Instead, airlines are choosing to transition at Seattle-Tacoma International Airport (Sea-Tac). Emirates Airlines, Qatar Airways, and numerous Chinese
Call us today.
604.272.8123 • 1.877.399.8123 londonair.com
carriers have requested permission to land in Vancouver, yet the international agreements are not yet in place. Further complicating matters is the requirement for transiting passengers from certain countries to have transit visas. If the final destination for a Chinese flight is the U.S., transiting through Vancouver becomes a hassle. Hence, carriers and passengers will naturally turn to Sea-Tac airport for those flights. The impact of all of this is quite measurable. When a foreign airline adds a new route to Vancouver International Airport, it has a $200 million annual impact to the
Canadian economy. Furthermore, it’s estimated that due to the lack of competition and the resulting increase fares that 372,000 Vancouver passengers are flying out of Bellingham International Airport each year or 62 per cent of Bellingham Airport’s traffic. The Federal Government under Prime Minister Stephen Harper has done more on this issue for British Columbians than any other government before it. With an agreement signed with Korea recently, B.C. is seeing progress. However, more work needs to be done. turn to page 14
2
Sounding Board December 2012
events and speakers
Board of Trade supports redevelopment of historic Vancouver Stock Exchange
events eventscalendar calendarupdate update See our full events calendar at boardoftrade.com tuesday, december 4, 2012
Friday, december 7, 2012
thursday, december 13, 2012
vancouver Board of trade Holiday lunch and Yearend Wrap up
leadInG GeneratIOnal cHanGe: creating sustainable prosperity
12:15 - 2 p.m. Hyatt Regency Hotel — Regency Ballroom
11:45 a.m. – 25 p.m.
company of Young professionals social night: Holiday rumble at vancouver theatresports league
panellists
Presenting Sponsors: CN, Teck Supporting Sponsors: Global Container Terminals, Odgers Berndtson
Frances Bula, City columnist for Vancouver Magazine, regular contributor to The Globe and Mail, commentator on CKNW and CBC Paul Chapman, Senior News Editor, The Province newspaper Natalie Clancy, Investigative Reporter, CBC News Vancouver Tammy Moyer, Vancouver Anchor, News1130 moderater
Iain J.S. Black, President and CEO, The Vancouver Board of Trade Presenting Sponsor: Scotiabank
Vancouver Marriott Pinnacle — Pinnacle Ballroom
5:15 – 9 p.m. Vancouver TheatreSports League — Granville Island thursday, January 17, 2013
saturday, december 8, 2012
leaders of tomorrow development day: change Your Mind, change Your life: Masterful strategies for success and Happiness 7:45 a.m. – 4 p.m. Terminal City Club Sponsor: The Terminal City Club, Ray Williams Associates
Media Partner: News1130 Wednesday, december 12, 2012 thursday, december 6, 2012
Members’ reception at de dutch 5 – 7 p.m. DeDutch — Vancouver Convention Centre West
networking Breakfast series — Orientation and roundtable 7 – 9 a.m. Renaissance Vancouver Harbourside Hotel
Host Sponsor: DeDutch
BMO economic Outlook Forum 2013: Fast Forward to the Future 8 a.m. – 2 p.m. Vancouver Convention Centre — West Building breakfast keynote
Douglas Porter, CFA, Managing Director, Deputy Chief Economist, BMO Capital Markets panellists
The Honourable Michael de Jong, Q.C. Minister of Finance, Province of B.C. The Honourable Pat Bell, Minister of Jobs, Tourism and Skills Training, Province of B.C. Carole James, MLA, VictoriaBeacon Hill, Critic for Social Development Bruce Ralston, MLA, SurreyWhalley, Critic for Finance and Public Accountss Title Sponsor: BMO Gold Sponsor: TELUS Community Sponsor: Pacfic Blue Cross
register now at boardoftrade.com/events
Talk To us! What speaker, topic or issue do you want explored? We’ll look into it. E-mail: hsharpe@boardoftrade.com
itineraries to
inspire
Ships’ Registry: The Netherlands.
The Vancouver Board of Trade has expressed its support for the proposed redevelopment of the historic Vancouver Stock Exchange in the Centre BusinesDistrict (CBD) of Vancouver. In a letter to City of Vancouver Mayor Gregor Robertson, Board of Trade Chair Ken Martin said the proposed rezoning “will protect and enhance the commercial function of the CBD, including maintaining Downtown Vancouver as a leading Canadian employment centre.” In addition, The Vancouver Board of Trade notes that the proposal is consistent with the City’s Metro Core Jobs and Economy Land Use Plan, which foresees a potential shortfall of up to five million square feet by 2030 without the rezoning contemplated by applications such as this. In a 2011 letter to the city, The Board of Trade expressed
support for the City’s taller buildings policy, saying that “densification and provision for additional office space, in conjunction with additional residential development, is important to the continued growth of the downtown peninsula.” However, The Board added the caveat that taller buildings should be “architecturally significant” and deliver “outstanding architectural and heritage additions to the area.” “The Board welcomes the heritage conservation and dedication proposed for the building, and we support the use of bonus density for this purpose,” wrote Martin. “In addition, we would also like to supportively note that the proposed building will seek a LEED Platinum designation.” For more information visit www.boardoftrade.com.
Board gives feedback on Transportation 2040 Plan The Vancouver Board of Trade provided comments to the City of Vancouver recently regarding the Transportation 2040 Plan. The Board of Trade’s Regional Transportation Committee (RTC) met several times to review the city’s plan before submitting its comments on behalf of its membership. The Board of Trade welcomes the opportunity to work with the city in developing and
implementing the plan. The organization is very pleased with the progress that has been made with the Cycling Committee and sees an opportunity to establish a similar working group to assist in the development and implementation of Transportation 2040. Visit www.boardoftrade.com to read the letter, which includes the committee’s specific comments on the plan’s policies and actions.
Personalized service. Sophisticated ambiance. Over 139 years of global exploration. Explore the world with Holland America Line. Choose from a wide array of artful itineraries, each designed to showcase a destination at its best. Step aboard your five-star ship complete with generous accommodations and travel effortlessly to new discoveries.
To book your Holland America Line Cruise or for more information, call 1-877-SAIL HAL (1-877-724-5425) or your Travel Professional, or visit www.hollandamerica.com
December 2012 Sounding Board
events and speakers
3
Celebrating our community heroes Board of Trade recognizes those who make our city a better place to live By Jeff Clowers
More than 150 people gathered at the Hyatt Regency Vancouver on Nov. 14 to recognize and honour local difference-makers at The Vancouver Board of Trade’s Community Heroes’ Luncheon. The celebratory event, which was sponsored by Rogers and ICBC, recognized individuals and organizations that have demonstrated a commitment to our community, including Police Officer of the Year Sgt. Bill Rattray, Firefighter of the Year Jayson Shalist, Not-for-Profit Community Hero the Mainland BC Military Family Resource Centre (MFRC) and Corporate Community Hero London Drugs. The event kicked off by praising the MFRC for their wide variety of charitable work, ranging from programs and services for members of the Canadian Forces, to life skills workshops and family separation and reunion briefings. Dedicated to helping the children and youth of Canadian Forces families, the organization recognizes the difficulties that military families face, and tries to offer a sense of normalcy in an often uprooted life style. The MFRC wasn’t the only orga-
Vancouver Board of Trade President and CEO Iain Black (far left) and Chair Ken Martin (far right) present the 2012 Community Hero Awards on Nov. 14. The ceremony recognized Police Officer of the Year Sgt. Bill Rattray, Firefighter of the Year Jayson Shalist, Not-for-Profit Community Hero the Mainland BC Military Family Resource Centre (MFRC) and Corporate Community Hero London Drugs. Photo by Pablo Su.
nization that received recognition for its community involvement. Following the 2011 Stanley Cup Riot, many businesses downtown chose to temporarily shut down to recover and repair the damage caused by rioters – but not London Drugs. The organization continued with business as usual, demonstrating not only tenacity, but also
community values. In fact, London Drugs was an integral part in helping the downtown core return to normal. As the event continued, the focus shifted to the efforts of some hard-working individuals, as Sgt. Bill Rattray and firefighter Jayson Shalist were honoured as the best in their respective fields. Rattray was described by his
former inspector, Barry Kross, as “one of the strongest and most sought after NCOs.” While Rattray may be renowned for his strength, it’s his kindness and selflessness that endears him to other officers. He often works Christmas shifts to allow others with young families to be with their kids, and his constables say he has greatly helped their professional development in
climbing the promotional ladder. Despite all this, the most impressive aspect of Rattray’s career may be that has never taken a sick day. Shalist was then recognized for his work with the Burn Fund, as the luncheon moved from one emergency service to the other. Shalist became a camp counsellor at Burn Camp in 2007, where his energy and enthusiasm made him an instant favorite among campers. He encouraged campers who had suffered from burns to look past their scars and see that they still are “normal.” His charitable work earned him the honour of escorting a camper to the International Association of Firefighters main camp in Washington, D.C. — an event that all counsellors aspire to be a part of. While it was the guests of honour that were celebrated for giving back to the community, guests at the luncheon also did their part by bringing in mounds of non-perishable food items to be donated to the Greater Vancouver Food Bank Society. For a full photo gallery from the event, visit The Vancouver Board of Trade’s official Facebook page at www.facebook.com/TheVancouverBoardofTrade.
Priorities for public transportation TransLink CEO shares insights with members of The Vancouver Board of Trade By Erin Brown
TransLink is one of Metro Vancouver’s largest organizations – operating a $1.3 billion budget and leading more than 6,000 employees who live, work and play in the Lower Mainland region. In a recent address to members of The Vancouver Board of Trade, TransLink CEO Ian Jarvis outlined how the organization is achieving efficiencies and doing business differently under a new financial reality. In recent years, after a period of rapid expansion, TransLink has been focusing on cutting costs, operating efficiently, and living within its means. Despite this fact, Jarvis cited rising transportation assets and increased ridership as evidence of the organization’s continued success.
With transportation assets up to $6 billion today from $1 billion in 2000, and ridership up 6 per cent and 6.5 per cent in the first quarter of 2012, Jarvis proposed that the transit authority now needs to garner financial support for future construction and operations initiatives. Over the next three years, TransLink faces a revenue forecast that is off by $472 million. The organization plans to cut costs by $98 million annually in order to combat this challenge, and has placed an emphasis on raising capital directly from the market. In alignment with this initiative, The Vancouver Board of Trade and the BC Chamber of Commerce endorsed a two-year, time-limited property tax as part of a funding solution. In terms of TransLink’s ability
to face these financial obstacles, Jarvis told the audience, “our track record speaks for itself.” In 2011, TransLink moved 233 million riders on the system,14 million of which were without any additional investment in service. This kind of deliberation is needed, said Jarvis, as ridership continues to outpace population growth in Metro Vancouver. Jarvis stressed the organization’s superior performance in supporting the 2010 Olympic Games, and that the success of this undertaking has had continued benefits. Notably, Jarvis said TransLink served more transit riders in the first quarter of 2011 than in the first quarter of 2010. With a projected population growth of one million people by 2040, Jarvis said the greater Vancouver community needs to start planning now to ensure
TransLink CEO Ian Jarvis speaks to reporters following his November address to members of The Vancouver Board of Trade. Photo by Peter Taylor.
the continuation of high-quality transit service. Jarvis’s speech reflected on the value TransLink has brought to the region, emphasizing the
importance of TransLink’s integrated public transportation system to a strong economy and quality of life in Metro Vancouver.
president and CEO’s message PUBLISHER: Business in Vancouver Media Group EDITOR: Greg Hoekstra, 604-640-5450 ADVERTISING SALES: Katherine Butler, 604-608-5158 DESIGN: Business in Vancouver Media Group As the official publication of The Vancouver Board of Trade, the Sounding Board newspaper provides analysis and discussion of regional and national issues facing the business community, along with input from member companies, allowing them to raise their profile in the business community. Sounding Board is published 12 times per year by Business in Vancouver Media Group in partnership with The Vancouver Board of Trade. Sounding Board is read by leading business executives and their employees. The paper has a primary circulation of 12,500 and a conservatively estimated total readership of 37,500. ABOUT THE VANCOUVER BOARD OF TRADE The Vancouver Board of Trade is Vancouver’s chamber of commerce. Since 1887, The Board of Trade has been an active proponent of business in Vancouver. The World Trade Centre Vancouver is the international division of The Vancouver Board of Trade and is affiliated with more than 300 WTCs worldwide. OUR MISSION STATEMENT The Vancouver Board of Trade works in the enlightened interest of its members to promote, enhance and facilitate the development of the region as a Pacific centre for trade, commerce and travel. OUR BASIC PRINCIPLES The Board of Trade believes that the market system is the only system that works effectively in the allocation of scarce economic resources for efficient and stable economic growth and job creation. The Board of Trade recognizes the imperfections of the market system and supports the need for publicly provided services such as social services, health services and public education. The Board supports the philosophy of less government involvement in the business sector and believes that governments should not do what can be done in whole or in part by the private sector. PUBLICATIONS MAIL AGREEMENT No. 40011551 The Vancouver Board of Trade, World Trade Centre Suite 400, 999 Canada Place Vancouver, B.C. V6C 3E1 contactus@boardoftrade.com BOARD OF DIRECTORS 2012-2013 EXECUTIVE COMMITTEE Chair Ken Martin President and Chief Executive Officer Pacific Blue Cross Senior Vice-Chair Elio Luongo Canadian Managing Partner — Tax KPMG LLP Vice-Chair Janet Austin Chief Executive Officer YWCA Metro Vancouver Vice-Chair Ray Williams President Ray Williams Associates Secretary-Treasurer George Cadman, QC Shareholder Boughton Law Corporation Finance and Audit Committee Chair Jon Schubert Policy Council Chair Robin Silvester President and Chief Executive Officer Port Metro Vancouver Immediate Past Chair Wendy Lisogar-Cocchia President and Chief Executive Officer Century Plaza Hotel & Spa, Absolute Spa Group Member at large Tim Manning Regional VP, Commercial Financial Services RBC Royal Bank Member at large John Nightingale President and Chief Executive Officer Vancouver Aquarium Member at large Tamara Vrooman Chief Executive Officer Vancity BOARD OF DIRECTORS Kevin Bent Dave Cunningham Lara Dauphinee Mary Anne Davidson Maninder Dhaliwal Anne Giardini Calvin Helin Craig Hemer Robin Hemmingsen David Hoff Terry Hui Richard Jaffray Moray Keith Sacha McLean Tracy McVicar Evi Mustel Gordon Nelson David M. Poole Jatinder Rai Elise Rees Dr. Mark Schonfeld Dennis Skulsky Lorne Segal Ron W. Thiessen Denise Turner
Pacific Newspaper Group Telus Corporation Fiore Financial Corporation, Fiore Group Acciona Infrastructures Canada Trucasa Weyerhaeuser Company Limited RCI Capital Group, Inc. Odgers Berndtson BCIT School of Business Ledcor Concord Pacific Developments Inc. Cactus Restaurants Ltd. Dueck Auto Group The McLean Group CAI Capital Management Mustel Group Rogers Communications Group Scotiabank Response Advertising Inc. Ernst & Young LLP BC Lions Football Club Kingswood Properties Ltd. Hunter Dickinson Inc. TitanStar Group of Companies
The value of community giving Corporate philanthropy is an investment that pays dividends A few weeks ago, I had the honour of attending our organization’s annual Community Heroes’ Luncheon, an awards ceremony that casts a spotlight on some of this city’s most selfless individuals and most philanthropic organizations. I was fortunate to be seated at the head table, where I broke bread with Sgt. Bill Rattray, recipient of the 2012 Police Officer of the Year award, and Jayson Shalist, recipient of the Firefighter of the Year award. Also at the table were representatives from the Mainland BC Military Family Resource Centre, this year’s Not-for-Profit Community Hero, and from London Drugs, this year’s Corporate Community Hero. The ceremony was filled with inspiring moments, particularly when Rattray and Shalist gave their heartfelt acceptance s p e e c h e s a n d s h a re d w h a t compels them to put their lives on the line for our community, day after day. Hearing their words served as a timely reminder that it’s important to give back – however we can – to make our city a better place to live. Call it an investment in the social fabric of our community. In past issues of Sounding Board, I have referred to The Vancouver Board of Trade as an intersection – a crossroads where small business owners have an opportunity to meet and interact with executives from some of North America’s most successful organizations. In a similar manner, The Vancouver Board of Trade also helps bring together many notfor-profit organizations with corporate leaders and decisionmakers. The Board of Trade currently has 165 not-for-profit organizations in its membership, many of which are charities working to bolster health-care services, to fight homelessness, to support those living in poverty, or to help new immigrants get a fresh start in our community. This is crucial work that improves our collective quality of life, but it’s becoming more and more difficult for many of
these charities to fulfill their mandates. As reported recently in The Globe and Mail, Canadian charities are facing trying times. Corporate donations have been declining since the economic downturn in 2008, and companies are becoming more strategic with their philanthropy programs. In October, Imagine Canada — a national organization that advocates on behalf of Canadian charities and not-for-profits — released a report with even more troubling findings. After surveying the leaders of more than 2,100 charities across the country, it was discovered that confidence levels are drastically low as we head into 2013. According to the report, the percentage of charity leaders predicting they will be weaker in the short and medium-term has roughly doubled over the past year. Likewise, the number of charities predicting decreased revenues, expenditures, and paid staff is on the rise.
Iain Black, President and CEO, The Vancouver Board of Trade
Army, the Turning Point Recovery Society, and Zajac Ranch for Children. There is no doubt that our community is stronger and healthier because of the very meaningful work those organizations do. Or, consider the vast amount of support and resources offered by organizations such as the Alzheimer Society of BC, the BC Cancer Foundation, the BC Lions Society for Children with Disabilities, the Canadian Diabetes Association, the Canadian Liver Foundation, the Canadian Mental Health Association, Canuck Place Children’s Hospice, the Developmental Disabilities Association, the Heart and Stroke Foundation, the MS Society
“Charities are increasingly being asked to do more with less. In the coming months and years, these organizations will need the help of the business community, be it through financial donations, gifts in kind, or volunteer support..” Charities are increasingly being asked to do more with less. In the coming months and years, these organizations will need the help of the business community, be it through financial donations, gifts in kind, or volunteer support. Consider all the incredible work that is accomplished each year by organizations such as A Loving Spoonful, the Greater Vancouver Food Bank Society, Habitat For Humanity Greater Vancouver, the Michael Smith Foundation for Health Research, the Last Door Recovery Society, the Kids Up Front Foundation, RainCity Housing and Support Society, the Rick Hansen Foundation, Ronald McDonald House BC, The John Howard Society of the Lower Mainland of BC, The Salvation
of Canada, Ovarian Cancer Canada, The Arthritis Society of BC & Yukon Division, and The Leukemia & Lymphoma Society of Canada. It’s likely that nearly every person reading this column has benefited from the efforts of those organizations in one way or another. If not you, then one of your friends or loved ones. The fact is, we need charities and not-for-profits to continue the work they are doing for our customers, our clients, and our employees. Si m p l y p u t , c o m m u n i t y giving is one of the most meaningful investments a company can make. Iain Black is President and CEO of The Vancouver Board of Trade.
December 2012 Sounding Board
member news
5
Be connected, be inspired, be successful Budding entrepreneur shares her experience in The Vancouver Board of Trade By Rain Emily Zhang
Most entrepreneurs will likely agree that running a business is a challenging and lonely journey. Most of us have experienced moments in which we feel like we have no one to share our challenges with, and nowhere to get subjective comments about our ideas. We feel dry and depleted mentally and emotionally. I have been there. My entrepreneurial journey was full of challenges, frustrations and hopeless moments, but I have found the right way to deal with these headaches — that is to surround myself with the right people. Things can be great if you are connected and inspired. Packing my hopes and enthusiasm in two suitcases, I moved to Vancouver from Shanghai, China seven years ago. Two years later, at the beginning of 2008, I started the Willowest Enterprise. Inc, specializing in furnishing supplies to hotels. As a fairly new immigrant, I constantly felt the challenges of running a business, because I lacked knowledge and connections
in the industry. But things changed when I became a member of The Vancouver Board of Trade in 2011. Doing so made a significant impact to me, and to my business. Since then, I have been an active participant at events held by The Vancouver Board of Trade. Many of these events were cutting-edge and very informative. They helped open my eyes and my mind. I was nurtured and inspired by people in various industries, many of whom already had experienced
as me. Having a similar mindset, we understood each other and encouraged one another, which made the entrepreneurial journey easier and more fun. I feel as though The Vancouver Board of Trade is like a family. It’s a supportive group where I am inspired and encouraged, where I am able to become stronger and wiser in running a business. The Vancouver Board of Trade has helped me understand industry trends. With that very valuable
“The Vancouver Board of Trade is like a family. It’s a supportive group where I am inspired and encouraged, where I am able to become stronger and wiser in running a business.” success or were the leaders in their fields. In seminars, they shared information as well as their wisdom, lessons and findings from their own journeys. Through networking, I also got to know lots of people who were experiencing the same challenges
information, I formalized our company’s vision and adjusted our operations to meet the changing market. Lately our company has been engaging in a concept of creating a “home away from home” experience for tourists. With that
in mind, we have focused on what appeals to hotel guests most and have developed unique programs for each property. I’m proud to say that Willowest has become a recognized supplier of comprehensive solutions for hospitality furnishing, with a client list that includes the River Rock Casino Resort, the Great Canadian Gaming Cooperation, the Sutton Place Hotel, the Sandman Hotel Group, the Opus Hotel, the Loden Hotel, the Fairmont Pacific Rim, the Hyatt Regency Bellevue, the Wedgewood Hotel, and many others. This year, I am also honoured to be a finalist in the RBC Canadian Women Entrepreneur Awards. I would like to share my understanding of how to be successful in the business world — which is to be connected and to be inspired. The Vancouver Board of Trade is a great resource. We all face challenges in business, but we cannot afford to avoid them or shy away. We must learn to deal with them in a proper way. By being connected, you will find resources and support. By
Rain Emily Zhang, President, Willowest Enterprises Co.
being inspired, you will become wiser and stronger, which will help you overcome challenges. Once you become connected and inspired, it won’t take long at all for you to be smiling and successful. Rain Emily (Shi Yu) Zhang is president of Willowest Enterprises Co. and a proud member of The Vancouver Board of Trade. She can be reached at rainzhang@willowest.com.
Governors’ Banquet and Rix Center Awards 2013 Monday, April 29, 2013 Vancouver Convention Centre — West Council of Governors Inductee
The Rix Award for Engaged Community Citizenship
Wendy Lisogar-Cocchia
Terry C.Y. Hui
President and CEO, Century Plaza Hotel & Spa, Absolute Spa Group
President and CEO, Concord Pacific Developments Inc.
Gold Sponsors
boardoftrade.com/events
The Rix Award for Engaged Corporate Citizenship
Silver Sponsor
To inquire about sponsorship opportunities contact sponsorship@boardoftrade.com
6
Sounding Board December 2012
member news
Does employee engagement improve productivity? By Ray Williams
The subject of employee engagement as a measure of productivity has been a hot topic since the original Gallup organization research was published. While most of the research identifies low levels of employee engagement in many organizations and strategies to increase that engagement for the purpose of improving productivity, the cause-and-effect relationship is not overwhelming. Rather, an overarching strategy of increasing employee well-being in which engagement strategies are incorporated, appears to be more favorable. The Gallup organization defined employee engagement as “an employee’s involvement with, commitment to, and satisfaction with work.” Research conducted in the past decade has shown that employee engagement has declined significantly in most industries, with some research citing as few as 29 per cent of employees being actively engaged in their jobs.
The Hay Group found in its research that in among office workers who were actively engaged, they were 43 per cent more productive. Various research studies have shown that the following factors influence employee engagement: Employers’ commitment to and concern for employee welfare; employee perceptions of job importance; clarity of job expectations; career advancement opportunities; regular dialogue with superiors; quality of working relationships with coworkers and superiors; perceptions of the ethos and values of the organization; and employee rewards and recognition. Laurie Bassi and Dan Mc Mu r re r o f Mc Ba s s i a n d Company, a human capital analytics firm, in their article in Talent Management Magazine, argue that “since the drivers of employee engagement are not identical to the drivers of business results, attempting to maximize employee engagement can actually take an organization in the wrong direction.” They identify three myths of employee engagement. The
Ray Williams, President, Ray Williams Associates
first is assuming the drivers of employee engagement are the same in all contexts, indicating that the drivers address the outcome of employees’ willingness to stay with the employer and are satisfied with their workplace. The second myth is that the drivers for engagement are the same as those of business results, citing the Gallup research which concluded that employee engagement had no connection to customer engagement. The third myth is that
management should implement strategies to increase employee engagement, arguing that because the outcomes of business results and contexts are different, using engagement strategies to change the former, is misplaced. Bassi and McMurrer recommend engagement strategies be replaced within human capital strategies by determining what are the human drivers of business results which are critical to all organizations in all contexts, and which drivers can actually be shown to improve human performance. In a study for the American Psychological Association entitled Well-Being in the Workplace and its Relationship to Business Outcomes, researchers James Harter, Frank Schmidt and Corey Keyes concluded that productivity was enhanced in workplaces where daily occurrences that bring about joy, interest, and caring that lead to high level of bonding of individuals to each other, their work and their organization. The authors concluded that well-being in the workplace is,
in part, a function of helping employees do what is naturally right for them by freeing them to do so, through behaviors that influence employee engagement and therefore that increase the frequency of positive emotions. So it seems that while much has been researched and written about the importance of employee engagement, there is not an overwhelming amount of evidence to demonstrate a cause-and-effect relationship with business results. On the other hand, there is increasing evidence that employee engagement strategies which are incorporated into much broader strategies of promoting employee wellbeing and manager-employee positive relationships may hold greater promise to drive business results. Ray Williams is president of Ray Williams Associates and vice-chair of The Vancouver Board of Trade. For more info visit www.raywilliamsassociates.com.
2013 BMO Economic Outlook Forum: Fast Forward to the Future Thursday, January 17, 2013
Keynote
The Honourable Michael de Jong, Q.C.
Doug Porter
Minister of Finance, Province of B.C.
Deputy Chief Economist, BMO Capital Markets
The Honourable Pat Bell Minister of Jobs, Tourism and Skills Training, Province of B.C.
Title Sponsor
boardoftrade.com/events
Gold Sponsor
Community Sponsor
Carole James MLA, Victoria-Beacon Hill, Critic for Social Development
Bruce Ralston MLA, Surrey-Whalley, Critic for Finance and Public Accounts
if you’ve got lights we’ve got a business opportunity for you.
BC Hydro is offering substantial financial rebates to small businesses that invest in energy efficient upgrades. Upgrades that will lower your power bill and improve your bottom line. Our network of contractors can help you identify energy saving opportunities that will benefit you the most and guide you through the process. To find out more call our business help desk at 1 866 522 4713 or visit bchydro.com/upgrade
Ad # P22786_BCH_PIP_A_Lights
19 Nov 2012
1624
100%
APProved By
8
Sounding Board December 2012
member news
The rich rewards of volunteering By Nicole Byers
KAMLOOPS
Your Meeting Here!
At this time of year, we have many opportunities to donate time and money to assist those less fortunate. While these efforts are important, many organizations and causes require support throughout the year, not just during the holiday season. Not-for-profits and charities need volunteers with the skills that business people and professionals have. Most of us have many demands on our time. Our businesses, careers or professions require the bulk of our time and energy, and when added to other priorities such as family and personal health and wellness, it is difficult to do all that we want. So, why do busy people volunteer? Because we receive more from our volunteer experience than what we contributed in the first place. For those of us who have discovered this truth, it is important to spread the word that not only is volunteering good for our communities, it results in unexpected benefits for one’s career or business. The following is my list of these benefits: Communication skills. Most of us do not get enough practice at active listening. To be able to understand the real message from people who, for whatever reason, cannot communicate well is a skill that you can develop by working with diverse stakeholders and groups. Further, you have added opportunity to practice effectively communicating your message in a non-work setting. Leadership skills. Whether you are watching good (or bad) leadership in action, or have an opportunity to lead your own committee or Board, volunteer organizations provide a terrific opportunity to develop leadership techniques and skills. Since we learn just as much (if not more) from our failures, volunteer organizations provide an
Nicole Byers, Partner, Miller Thomson LLP
opportunity to practice in a relatively safe environment – allowing us to step outside our comfort zone more than we might do in our regular work environment. This in turn will lead to increased confidence and/or credibility, thereby enabling you to take more active leadership roles in your job. Managing meetings. To run a meeting well requires organizational and communication skills, focus, and diplomacy. It is also important to learn how to listen for the opinions that are not being expressed, whether because the discussion is being dominated by one or more participants, or because others are too shy or reluctant to weigh in. Regularly participating in board meetings is a great way to learn how to manage meetings effectively, and once mastered is a skill that will add to your effectiveness in a business context as well as your personal life. Networking and building connections. Many high achievers are drawn to boards because they want to give back to worthy organizations that are in need of their skills and abilities. Thus, one of the unexpected bonuses of giving of your time is the opportunity to meet and work with talented and influential people in the business community whom you might not otherwise meet. These individuals can assist you in a variety of ways,
including linking you to other connections, to providing mentorship or support. Self confidence, validation and self esteem. Sadly, in some organizations, opportunities for recognition are infrequent, either because positive recognition is not a priority, or you are not a good fit in that particular environment. Accordingly, sometimes it is the people you meet on boards who are the first ones to recognize your contributions and ability. This external source of validation can be a source of confidence that can in turn, motivate you to greater success in your professional and personal life. Finally information on the benefits of volunteering would not be complete without mentioning a few important caveats, including: • Never, ever volunteer solely to puff up your resume (if your sole motivation for joining a board or organization is for what it will do for you and your career, your fellow board volunteers will figure this out); • Ensure that the organization that you are considering volunteering for is a “fit” for you (if you have to drag yourself to meetings, your lack of enthusiasm will be demonstrated in the quality of your contributions); • Be realistic about how much time you can devote before you sign up, so you don’t let others down. In addition to the satisfaction of giving back to our community and being involved in interesting endeavors, the rewards of volunteering your time are rich. That’s something to remember as we contemplate our goals for the coming year. Nicole Byres is a partner at Miller Thomson where she heads up the Labour and Employment Group for its Vancouver office. She is also a member of The Vancouver Board of Trade’s Women’s Leadership Circle Advisory Council.
Province releases Small Business Profile The Government of British Columbia recently released its Small Business Profile 2012, a statistical report highlighting the major role small business plays in B.C., through job creation, economic investment, exports and contributions to the province’s gross domestic product. The profile can be found online, and new this year, a web-based
version optimized for smartphones is also available. Some of the 2012 profile’s highlights include: • B.C. ranks first in Canada for the number of small businesses per capita, with 84.2 per 1,000 people. • Small business provides about 56 per cent of all private-sector jobs in B.C., the second-highest rate in the country
• B.C. small businesses shipped approximately $16.9 billion worth of merchandise to international destinations in 2010, up $6 billion from 2009. • Small business employed over one million people in the province in 2011. The Small Business Profile is available online at www.resourcecentre.gov.bc.ca.
December 2012 Sounding Board
member news
9
Discover the gift of giving this season Hospital foundations are working to build better, healthier communities By Tania Vrionis
The holidays are always a good time to pause and reflect on the year that is about to pass – we make plans for the future and count the blessings we are privileged to have. For many, it is also a time to give, and as the President of the Foundation Council for Fraser Health, I have the honour of bearing witness to the overwhelming generosity of the communities we serve. Made up of 10 independently governed Foundations that work within Fraser Health to support healthcare in our communities, the Foundation Council is responsible for managing over $25 million that is collectively raised each year. When most people hear “hospital foundation” they automatically think money for equipment and major expansions. The foundations of today not only play an important role in supplementing government
funding for buildings, they are also stewards of innovation, education and research. The impact of their involvement goes beyond just hospitals into support for health promotion and community services. In the case of Fraser Health, our population is one of the most unique in the province. To give you an idea of how distinctive our communities are, consider the fact that 60 per cent of our population is under the age of 45, and of those almost 20 per cent are under the age of 16. Over 15 per cent of families are singleparent homes and 12 per cent of these are led by women. This translates into a large number of young, vibrant families that need unique services and support. One such example is the “Girls World” initiative to improve the health of young women in Maple Ridge and Pitt Meadows by the Ridge Meadows Hospital Foundation. By supporting young girls in making positive lifestyle choices through education and
opportunity, we can potentially improve their health outcomes into adulthood. We know that active children perform better at school, have higher self esteem and are less likely to engage in risky behaviours in adolescence – ultimately benefitting the health care system in the long run. Another wonderful example is the “Because People Matter” grants program through the Peace Arch Hospital and Community Foundation. Launched in 1999, the program supports innovative projects at Peace Arch Hospital as well as community programs that focus on health education, research and service delivery. Over $1.4 million has been invested in more than 90 projects since the inception of the program. One such project is the purchase of six iPad2 devices for children with autism who have limited speech or are completely non-verbal. Harmony House in Surrey previously received two
Tania Vrionis, President, Fraser Health Foundation Council
devices and were able to show that students acquired language and understanding more quickly. The organization focuses on providing youth with autism with the skills and tools that allow them to be social members in their community to the best of their personal ability. These are but two of the ex-
citing projects our foundations support every year. So the next time one of our hospital foundations approach you for financial support, remember that it isn’t always about buying a fancy new bed or piece of equipment, it is also about building better, healthier communities together for the benefit of us all. Tania Vrionis is the President of the Fraser Health Foundation Council and the Executive Director of the Langley Memorial Hospital Foundation. The Fraser Health Foundation Council is made up of 10 independently governed Foundations, including the Burnaby Hospital Foundation, Delta Hospital Foundation, Eagle Ridge Hospital Foundation, Fraser Valley Healthcare Foundation, Langley Memorial Hospital Foundation, Peace Arch Hospital and Community Foundation, Queen’s Park Healthcare Foundation, Ridge Meadows Hospital Foundation, Royal Columbian Hospital Foundation and Surrey Memorial Hospital Foundation.
Culinary program stresses hope, action, values and ethics By Tony Weller and Ali Abell
The H.A.V.E. Culinary Training Society is a culinary training school that provides food service job training and work opportunities to individuals in Vancouver who experience barriers to employment. The society’s students are youth and adults facing mental and physical disabilities, poverty, addiction and homelessness. In addition to the eight weeks of culinary training, students are also provided with employment counselling support, job development and two meals a day. The concept of H.A.V.E. started over five years ago when Brad Mills, CEO of Mills Basics, and a group of concerned business people came together in an attempt to create an innovative, effective, and sustainable program that could continue the mission and good work that was done by the former Cooks Studio. The goal was to take an entrepreneurial approach to tackle poverty and unemployment in Vancouver’s Downtown Eastside community.
As a business owner in the community Brad believes that the private sector has an important role to play in addressing the social interests and sustainable development goals of the communities they operate in. By developing partnerships and effective corporate social responsibility agendas, businesses not only become aware of the issues facing their communities, but they also stand to gain from the mutual benefits that arise when they become active partners in community development initiatives. In 2011, H.A.V.E Culinary Training Society trained more students than ever before. Enrollment numbers were at a record high and are expected to continue in the coming year. Over the past five years, 500 students have been trained with over 75 per cent of those students gaining steady employment in the tourism and hospitality industry, thanks to a partnership with Ian Tostenson and the BC Restaurant Association. Under the able tutelage of Executive Director Amber An-
derson, the H.A.V.E. program is not only going strong, but is expanding business operations and their capacity to help those who experience barriers to employment in the DTES. Recently, through a community partnership with SHIFT Urban Cargo, H.A.V.E has started a lunch delivery service, Bites on Bikes, in downtown Vancouver delivering socially responsible lunches to offices using electric tricycles. Other revenue raising initiatives include Amber and Friends, a fine dining culinary experience with Amber and a guest chef, and our annual H.A.V.E. Culinary Training Society Charity Golf Tournament. In 2012, the Government of British Columbia recognized the positive impact this program was having on the DTES residents and in June announced its plans to put $498,600 into the program, which will give 120 new participants a chance to go through the culinary school. H.A.V.E. is a shining example of what can happen when an individual is given hope and trust, a business owner and his company
take action, relationships are not determined by the past but by values, and homelessness is seen as an ethical responsibility of a community.
Tony Weller and Ali Abell are Account Executives with Mills. For more information, visit www.mills.ca or www.have-cafe.ca.
10
Sounding Board
Match-Works MatchMaker Sheree Morgan Wishes everyone a Fabulous Fun Filled holiday Season Surrounded By Friends and Family! www.match-works.com
604-770-1204
Bayside
Payroll Service Dennis Gary
Managing Partner 1350 Burrard St., Suite 367 vancouver, Bc v6Z0c2
MACDONALD REALTY Seasons Greetings and 34704 Thank You CCT for 2.00 x 3.000 Another Great Year! Seasons Greetings Make Your First Move visiting the Relocation Pages at shellysmee.com
Shelly Smee
(604) 763-2787
EMAIL: shelsells@gmail.com
Gold Medal Service Since 1995
• More Creative
• Greater Quality • Better Service
green grass
productions inc.
Phone 604-210-1809 Fax 778-786-7217 dennis@baysidepayroll.ca
creative marketing for growing companies
www.baysidepayroll.ca
www.greengrassinc.com
215-1080 Mainland St. Vancouver, BC V6B 2T4 t: 604.801.6446 • e: info@greengrassinc.com
Merry Christmas W W W . H A T C H M O T T . C O M
And Happy Holidays
DIANNE FABER PhD T 604 684 1838 F 604 684 1801 W www.greengrassinc.com 1080 MAINLAND ST SUITE 215 VANCOUVE
All the best of the season to our valued customers ! e-Forensic Services would like to take this opportunity to say thank you to all our clients for a very successful year. We are now located in Vancouver and Victoria, providing unsurpassed expertise in e-Discovery & e-Forensics. www.e-forensic.ca
PLANNING I ENGINEERING I PROGRAM & PROJECT MANAGEMENT
Thank you! To all of our customers, employees and suppliers.
Happy Holidays Self Storage for Your Ever-Changing Life Coquitam
Langley
Mission
Surrey
December 2012
Christmas speCial - secure your property! Book mobile services today and receive one month free off mobile patrol services! T. 604.284.5538 | F. 604.285.0529 E. info@isecuritygroup.ca Suite 201-5755 No.3 Road, Richmond, BC *Limited time offer. Not valid with any other offer.
www.integritassecuritygroup.ca
December 2012
11
Sounding Board
A partner in sustainable development
The entire team of La Société de développement économique de la Colombie-Britannique wishes you a very happy Holiday Season. Wishing you a peaceful Christmas with your family and friends. All the best for a healthy, happy and prosperous New Year.
220-1555 West 7th Avenue, Vancouver (BC) V6J 1S1 Vancouver 1-877-732-3534 ou/or 604-732-3534 Victoria 250-382-7132 • Okanagan 250-860-1584
sdecb.com
Celebrate the Season at the Boathouse! Book Your Holiday Party With Us! Tel: (604) 536-7320 14935 Marine Drive, White Rock Party Planning Packages available here : www.boathouserestaurants.ca
Seasons Greetings & a Happy New Year! 301-609 West Hastings Street Vancouver, BC V6B 4W4 Phone 604-683-8843 Fax 604-684-1039
WORLD DUTY FREE GROUP 34761 LB 2.00 x 3.000 Seasons Greetings
ER, BC V6B 2T4
Seasons Greetings From all of us at London Air Services, we wish you Seasons Greetings and a prosperous New Year. 604.272.8123 • 1.877.399.8123 • londonair.com
SUITE 700 - TWO BENTALL CENTRE 555 BURRARD STREET VANCOUVER BC CANADA V7X 1M8 | TEL 604.684.0727 | FAX 604.684.7094 | s h k . c a
12 member news
Sounding Board December 2012
Salaries and bonuses Choose a gift, change a life trend upwards: WCBC Even though unemployment levels remain relatively high, Canadian employers are experiencing challenges in attracting and retaining employees, according to the results of a survey recently completed by Western Compensation & Benefits Consultants. Barry Cook, a partner in the firm, indicated that about one in three employers are confronted with these challenges, with professional and technical positions posing the greatest difficulty. “Developing and retaining their best performers is the top human resources priority for 2013,” said Cook, “and they consider that paying competitive compensation is the most effective strategy to meet this priority.” Providing development and advancement opportunities, particularly for professional and technical employees, was identified by employers as another important attraction and retention tool. Salaries continue to increase. The consultants’ survey shows that salaries went up approximately three per cent nationally in
2012 and are expected to increase by a similar amount in 2013. Cook points out, however, that “the magnitude of salary increases varies by geographic region, sector of the economy and industry.” Salary increases were and will be highest in Alberta and Saskatchewan, with Atlantic Canada and regions of Ontario being lower. The public sector increases were only about two per cent in 2012 and are expected to be the same in 2013. Three quarters of the organizations surveyed award larger salary increases to high performing employees. Typically, the high performers receive increases which are two to two-and-a-half per cent higher than those awarded to average performers. Employers continue to find that annual bonus programs are an effective way to engage and motivate employees. Such plans are commonly provided for salaried employees, with approximately 90 per cent of the organizations surveyed making payments under these plans for the last fiscal
year and a similar proportion expecting to make bonus payments for this fiscal year. Overall, the employers expect the magnitude of bonuses for this fiscal year to be higher than those paid for last year. The surveys published by Western Compensation & Benefits Consultants include data submitted by more than 500 organizations with respect to more than 375 positions. Individual survey reports are available with respect to executive, board of directors, middle management and professional, information technology, engineering and technical, marketing and sales, production and distribution, and clerical/administrative support positions. Separate reports are available on salary increases and compensation policy and total rewards practices and employee benefits. Vancouver Board of Trade members are eligible to purchase WCBC surveys at reduced prices. For more info visit www.wcbc.ca/ surveys/vbtsurveys or call 604-6839155 or 1-800-781-2411.
We’re here to help WCBC’s annual compensation reports are available for immediate download.
QUESTIONS? Nancy MacLeod 604-683-9155 1-800-781-2411 wcbc@wcbc.ca
Members of the Vancouver Board of Trade receive a 15% discount.
Our 10 compensation surveys, covering over 375 positions, provide overall data, along with data specific to Metro Vancouver: Clerical/Administrative Support Middle Management & Professional Information Technology Marketing & Sales Engineering & Technical Production & Distribution Executive Compensation Board of Directors Total Rewards Practices & Employee Benefits Salary Increases & Compensation Policy
www.wcbc.ca/surveys
One in five B.C. children under the age of six lives in poverty. It’s a dramatic statistic. Here’s another one: every month, more than one-third of children in Grades 4 to 7 are bullied or bully others. And one more: social isolation affects at least 10 per cent of seniors living in the Lower Mainland. Imagine if you could help prevent poverty, bullying or isolation while at the same time check off a few items on your holiday gift list. You can. The Imagine Gift Catalogue is a creative and meaningful alternative to traditional gift-giving. There are 40 gift ideas ranging in price from $5 to $1,500 that support children and seniors in the Lower Mainland. Each gift in the catalogue represents a program or service that is funded through United Way. For example, for $25, options include helping give a child a week of nutritious breakfasts, funding a bully prevention workshop, or extending a warm Canadian welcome to an immigrant senior. Imagine gifts are a
hassle-free, green holiday gift idea for clients or employees. All purchases from Imagine are treated like any other charitable contribution and are tax deductible. Gifts purchased online generate an electronic tax receipt as soon as the order is confirmed. Choose to customize a card to send by mail, email or download and print. You can also create your own wish list and request donations in lieu of presents for the holidays, for your birthday, or any other special occasion, for example, a unique wedding registry. Send your wish list by Dec.26 and you could win a Whistler getaway for two. United Way acts on the root causes of social issues in 23 Lower Mainland municipalities. It does this by supporting research, investing in organizations that deliver programs, advocating for change, and working in partnership with agencies, government, educators, labour, business and community members. The per fect present can change the future. For more information, visit www.imaginegifts.ca
BCIT advances. Learn about our part-time programs, courses, and customized corporate training in: > Accounting, Finance and Insurance > Media and Creative Communications > Management > Marketing
bcit.ca/business
Real Experience. Real Results.
MJS: TSX-V
A0BK1D: FSE
pr
d o
c u
C , e g o inc g v n o i r g P r e g m n e o n d A n a h S in ld
r e
i h
a n
w w w.. m a j e s t i c g o l d . n e t 502-535 Thurlow St. Vancouver,, Canada. V6E 3L2
T: 604-681-4653 F: 604- 568-4902 E: info@majesticgold.net
14 member news
Sounding Board December 2012
BMO celebrates 125 years in Vancouver Board of Trade applauds one of its longest-standing partners BMO Bank of Montreal recently celebrated the 125th anniversary of its Vancouver Main Office Branch with customers and members of the community. As Canada’s first bank, BMO opened its first British Columbia branch in 1887, when the population of Vancouver was approximately 10,000 people. “Now, with more than 600,000 residents and a diverse and growing business sector, BMO is proud to be serving the financial needs of this community 125 years later,” said Jennifer Muench, Vice President, Vancouver, BMO Bank of Montreal. The branch opened in August 1887 in a wooden building on the southeast corner of Hastings and Seymour. It was the first BMO branch west of the Rockies. Campbell Sweeny – BMO’s first branch manager in Vancouver – was a director of a number of companies and a founding member of The Vancouver Board of Trade. In 1890, he spearheaded a committee that established the Vancouver Club and served on the board of governors for the University of British Columbia. BMO later relocated to the Merchant’s Bank Building on Granville Street, following the acquisition of Merchant’s Bank of Canada in 1922. The stately building
BMO photo caption here XXXXXXXX
was renovated and served as BMO’s head office for B.C. until 1974. BMO’s Vancouver Main Office Branch was then relocated to the Bank of Montreal Tower in the Bentall Centre at the corner of Burrard and Dunsmuir. In addition to BMO’s celebrations, The Vancouver Board of Trade – a long time business partner of BMO – is also marking its 125th year of operations. “Our organization has worked closely
Your legacy: a better future for everyone touched by cancer Discovery needs willing partners. When you remember the BC Cancer Foundation in your will, you’ll be supporting world-renowned research in BC that is shaping the future of cancer care. Please be sure to use the full legal name of our organization:
BC Cancer Foundation Registration Number: 11881 8434 RR0001
1.888.906.2873 I www.bccancerfoundation.com
with BMO for 125 years. Together, we have helped forge a community where businesses can succeed and thrive,” said Iain Black, President and CEO of The Vancouver Board of Trade. “Our partnership with BMO is one of our longest-standing relationships, and it’s one that we hope will flourish for years to come.” Derral Moriyama, Senior Vice President, Commercial Banking, Greater Van-
couver District, BMO Bank of Montreal, noted that Vancouver continues to attract new Canadians and business investors. “BMO Economics forecast 60,000 new jobs in Greater Vancouver by 2016. We do see a number of sectors exhibiting strength in B.C., including manufacturing, construction and engineering,” said Moriyama. For more information on Canada’s first bank, visit www.bmo.com.
Board of Trade thanks retiring YVR President Larry Berg we are grateful for his years of service and insight. In addition, The Vancouver Board of The Vancouver Board of Trade has been actively working on this issue throughout Trade’s Director of Public Policy, Kareem 2012. Under the leadership of Marian Allam, has been working as a member Robson, our Regional Transportation of the Province of British Columbia’s Air Access Steering ComCommittee has pulled tomittee, led by MLA Rob gether a series of leaders “Our Regional Howard. The committee and industry stakeholdbelieves that aviation is ers, to discuss transit Transportation critical to growing the without visa and make Committee has pulled B.C. economy, supporting recommendations to the jobs, enabling investment federal government. together a series of and facilitating trade. Our organization has leaders and industry As we head into 2013, also benefitted immenseair access will continue to ly from the work of Van- stakeholders, to be one of The Vancouver couver Airport Authority discuss transit without Board of Trade’s top policy president and CEO Larry priorities. On behalf of Berg, who previously sat visa and make this city’s business comon our board of direcrecommendations munity, we will work to tors. Berg will be retiring advance the discussion on in 2013, after 15 years to the federal air access, and plan to host as the head of YVR. In government.” an event in the coming recent years he has been months that will facilitate instrumental in some of some of our city’s great accomplishments, the exchange of ideas on this important including the 2010 Winter Olympic and topic for British Columbia. Ken Martin is Chair of The Vancouver Paralympic Games and the unveiling of the Canada Line. Berg has helped YVR become Board of Trade and CEO of Pacific Blue one of the world’s greatest airports, and Cross. from page 1
nOw #1 ON THE B.C. BESTSELLER LIST!
a
ft
i G s
e Id
a
m ist
r
h C t
a
A
e Gr
BOOK about our A
100 years Take an intriguing look back at the past 100 years of The Vancouver Sun: • A decade-by-decade record of the events that shaped our society • Stunning Sun photographs depicting major news events • Entertaining anecdotes about legendary Sun staffers • A delightful keepsake and an authoritative step back in time
Only $34.95 Plus tax/S&H vancouversun.com/estore or at your favourite bookstore
01111249.ad 1
15/11/12 1:20 PM
16 member news
Sounding Board December 2012
The outlook for gold investors Gold investors have been able to disregard that opportunity cost in recent years because interest rates have been so low — at times lower than estimates of inflation. Also, stock market performance has recently been mediocre. In a strong global economy, interest rates would probably rise substantially, and many companies would achieve better results, creating more investment opportunities in equities and fixed income to compete with gold. Special monetary policy measures, such as quantitative easing, could be halted. Unfortunately, the prospects for a strong global economy in the near term are poor. At the time of writing, US 10 year bonds were trading at a yield around 1.6 per cent, suggesting that near-term growth expectations are low. We think we could see a strong global economy again in the medium term, but probably not during the next 12 to 24 months. Continued short-term economic weakness could give the gold bull market some additional runway before monetary policy tightens. One economic development to monitor is the apparent bottom in U.S. housing starts, as home construction is labour-intensive and could spur U.S. employment and economic data over the next several years, starting to put upwards pressure on interest rates.
By michael armstrong and andrey schmidt
The price of gold has been rising for more than a decade. The famous investor John Templeton once said that bull markets are born in pessimism, grow on skepticism, mature on optimism and die on euphoria. We see signs of both skepticism and optimism in the current coverage of gold. The pessimism of the late-1990s, when gold was largely ignored, is gone, but today’s gold investors are far from euphoric. It seems likely to us that the advance in gold is at least two-thirds over, but may still have some room to run on the upside. Assessing exactly where we might be in this long cycle is a difficult, but interesting question. For perspective, in the late 1990s, the price of gold traded under US$300 per ounce. Recently the price has been hovering in the US$1700 range. The previous bull market saw gold trade above US$800 in 1980 at its peak, which is equivalent to over US$2,000 today, accounting for inflation. Gold’s chances of exceeding US$2,000 in the next few years depend greatly on whether strong global economic growth emerges. There is an opportunity cost to owning gold, as it produces no income.
On the demand side, one development to monitor is China’s increasing role in the gold markets. Many people are aware of India’s appetite for gold, but China is now expected to overtake India as the world’s biggest gold consumer. A continued increase in Chinese gold demand is obviously bullish, and makes more of a difference to the price of gold than individual investor attitudes about gold in North America. We believe Chinese gold demand will continue to increase over the next decade. G eological factors also deser ve mention. On the supply side, global gold production has been rising for the past few years. However, fewer gold deposits containing at least 3 million ounces are being discovered than in past decades. Also, the grade of the ore being extracted globally has trended lower on average over several decades. Consequently, production costs are rising. For example, Thomson Reuters GFMS have a proprietary measure of “all-in” costs to produce an ounce of gold, which they reported as US$1,044 for 2011. It is clearly challenging at present for miners to find large high-grade deposits that can be produced cheaply, which is supportive of the gold price. Much like American politics, opinions on gold as an investment tend to
be polarized. There are the “gold bugs” who favour it over all other investments, and there are those investors who avoid it completely, fixating on the fact that it produces no income. We occupy a middle ground where we see gold-related investments as a worthwhile part of a diversified portfolio at this time. When fundamental conditions change, our opinion will change, and it is possible that we could cut our weighting in gold-related investments drastically. For now, we are content to hold them, as we still believe significant upside is possible. Armstrong Schmidt Investment Management provides a full range of investment services to both retail and corporate clients with a specific focus on discretionary portfolio management. The partnership operates under the corporate umbrella of Raymond James Ltd., the Canadian subsidiary of one of North America’s leading full-service investment dealers. The views and opinions expressed in this article are those of Armstrong Schmidt Investment Management and not Raymond James Ltd. This article is not a solicitation and is for information purposes only. Raymond James Ltd.is a member of the Canadian Investor Protection Fund. For more information about our services, please visit www.armstrong-schmidt.ca.
Welcome to some of our newest members Allteck Line Contractors allteck.ca 604 -857-6600 604-857-6611 Fax
De Dutch Pannekoek House dedutch.com 604-543-3101 604-543-3107 Fax
Arrow Transportation Systems Inc. arrowtransportation.com 604-324-1333 604-323-7429 Fax
Executrade Ltd. executrade.com john.petherick@executrade.com 604-695-2600 604-623-3376 Fax
B+H Architects bharchitects.com vancouver@bharchitects.com 604-685-9913 604-685-0694 Fax
McLean Capital Corporation pcmortgagegroup.com admin@westcoastfamily.org 604-909-0300 Oliveus Glitter erinworrod@yahoo.ca 604-966-8457
Canamerican Capital Corp. canamericancapital.com
Pique Ventures Investment Consultants piqueventures.com bonnie@piqueventures.com 778-877-3041 Royal LePage City Centre Olga Lassu olgalassu.com admin@westcoastfamily.org 604-909-0300 Royal Pacific Realty Freyja Prit freyjarealestate.webs.com freyjarealestate@yahoo.com 604-909-0300
stewart.powell@canamericancapital.com
888-331-7771
Leadership loves company
Sustainable Refrigeration & Air Conditioning s-rac.com manderson@s-rac.com 604-420-0091 604-420-0092 Fax Tapestry At Wesbrook Village discovertapestry.com 604-225-5000 604-225-5002 fax Tourism Kelowna tourismkelowna.com 250-861-1515 Urban Fare Restaurants urbanfare.com 604-816-3798 604-669-5832 Fax
December 2012 Sounding Board
member news
17
Is B.C.’s creative Beedie study explores how the digital age is changing marketing economy recession-proof? Emily Carr alumni employment increases during challenging economic times: survey A higher arts education from Emily Carr University of Art + Design may just be recessionproof, according to findings in a recent alumni survey conducted by Vision Critical. Results show that 92 per cent of graduates are working and directly supporting growth in British Columbia’s creative sector, a six-per-cent increase since a previous survey conducted in 2006. The Vision Critical survey had a high response rate — more than one third of invited alumni who attended Emily Carr within the last 15 years participated. Findings report that 29 per cent (of those 92 per cent) are creative entrepreneurs who own their business, are self-employed or are themselves, employers. Graduates hold a wide variety of positions and work in companies from diverse industry sectors. Employers include Jostle Corp, Rethink, Vancouver Coastal Health, Hootsuite, Apple, The Rennie Collection and Twitter. “Recent grads are entering the labour market quickly and their creative skill sets are in demand: more than half of respondents are five years out of school and under the age 35,” says Barry Patterson, Executive Director of Communications for Emily Carr. “And if they are not finding a job they are starting
their own businesses.” A closer look at this group of graduates finds that 20 per cent are in business for themselves, a positive result that suggests this trend will continue into the future. Other key findings indicate that the majority of employed alumni (83 per cent) say their field utilizes the skills they developed at Emily Carr, that 73 per cent of Emily Carr alumni-based companies are based in British Columbia, and that 76 per cent of alumni who maintain a creative practice outside of a full-time job also earn an additional income of up to $25,000 a year. “A university education in art and design should no longer be underestimated within the value chain of societal and economic prosperity. We educate individuals to be entrepreneurial, multiskilled professionals who are adept at contributing a critical and creative perspective to the workplace and economy,” says Dr. Ron Burnett, President and Vice-Chancellor of Emily Carr. “These results affirm our vision which is to build Emily Carr’s Great Nor ther n Way Campus and place us at the centre of a new social, cultural, educational and economic engine for British Columbia.” For more information on Emily Carr University of Art + Design, visit www.ecuad.ca.
In the immediate aftermath of the earthquake and tsunami that devastated Japan last spring, Atlanta-based insurance giant Aflac Inc. was forced to confront a marketing fiasco with global implications. The voice of their famous Aflac duck, comedian Gilbert Gottfried, had used his Twitter account to make tasteless jokes about the natural disaster that wiped out entire cities on Japan’s northeast coast. The online backlash against Gottfried’s social media outburst – and ultimately Aflac – was swift and forceful in the United States, but the repercussions were even greater in Japan, where the company insures one in four households. To the company’s credit, a wellcrafted public relations and social media response – along with the swift firing of Gottfried – quelled what could have been an overseas marketing (and financial) disaster – one that was triggered by poor comedic taste and the power of social media. But the Aflac story is representative of a greater trend in marketing today. Today’s global companies confront new challenges and opportunities borne of an environment where digital media and empowered customers rule the day – across countries, continents and time zones. A new study from Simon Fraser University, entitled Marketing meets Web 2.0, social media, and creative consumers: Implications for international marketing strategy, explores this new reality for managers generally and for international marketers in particular.
Published recently in Business Horizons, it was authored by Leyland Pitt, Kirk Plangger and Daniel Shapiro from SFU’s Beedie School of Business, and Pierre Berthon from Bentley University’s McCallum Graduate School of Management. As the study notes, today’s global marketing environment is littered with success and disaster stories for many well-known brands. However, all tend to have one thing in common: the shift in power away from the firm toward individuals and communities. The authors maintain that marketing managers need to understand the nuances of the aforementioned three key areas: Web 2.0, social media and creative consumers. Web 2.0 is the technical infrastructure that enables the social phenomenon of collective media and consumer-generated content. The latter – social media and creative consumers – are distinguished by their difference in focus. Social media can be thought of as focusing on content, and creative consumers on the creators of that content. Beyond the understanding of the digital media landscape, a big challenge for would-be global marketers in this arena is that not all countries share the same preferences for specific social media channels. “There is evidence of a relationship between cultural norms and values and the relative interest in a social media site across different countries,” argue the researchers. Using data from Google searches, they showed that relative interest in particular social
media differs markedly across countries. As examples, Facebook and LinkedIn are very popular in the United States, India and South Africa, but are less so in Japan, which gravitates towards homegrown venues such as mixi and GREE in addition to Twitter. “From an international marketing strategy perspective, this means that firms cannot follow a one-size-fits-all or standardized approach when it comes to social media usage. A company will need to customize the social media aspects of its global marketing strategy to fit and accommodate national differences.” To help international marketing strategists, the researchers offer five starting points for harnessing social media and creative consumers in international marketing strategy: Social media is a function of the technology, culture and government of a particular country. In the age of social media, local events seldom remain local. In the age of social media, general issues seldom remain general; that is, macro issues tend to be (re)interpreted locally. The actions and creations of creative consumers tend to be a function of the technology, culture, and government of a particular country. Technology tends to be historically dependent; that is, technologies in different countries evolve along unique trajectories due to inertia rather than because they are the optimal solution. For more information on the research and programs at SFU’s Beedie School of Business, visit www.beedie.sfu.ca.
Summer babies less likely to be CEOs: UBC research Sauder School of Business researchers at the University of British Columbia have found that a person’s date of birth can affect their climb up the corporate ladder. The Sauder study shows that only 6.13 per cent of an S&P 500 CEO sample was born in June and only 5.87 per cent of the sample was born in July. By comparison, people born in March and April represented 12.53 per cent and 10.67 per cent of the sample of CEOs. “Our findings indicate that summer
babies underperform in the ranks of CEOs as a result of the ‘birth-date effect,’ a phenomenon resulting from the way children are grouped by age in school,” says Sauder Finance Prof. Maurice Levi, co-author of the study to appear in the December issue of the journal Economics Letters. In the United States, cut-off dates for school admission fall between September and January. The researchers determined that those CEOs in the sample born between June and July were the youngest in their class during school, and
those in March and April were the oldest. This takes into account children born in months close to the cut offs who were held back or accelerated. “Older children within the same grade tend to do better than the youngest, who are less intellectually developed,” says Levi. “Early success is often rewarded with leadership roles and enriched learning opportunities, leading to future advantages that are magnified throughout life.” Levi and his co-authors, former Sauder PhD students Qianqian Du and Huasheng
Gao, investigated the birth-date effect in a sample of 375 CEOs from S&P 500 companies between 1992 and 2009. “Our study adds to the growing evidence that the way our education system groups students by age impacts their lifelong success,” says Levi. “We could be excluding some of the business world’s best talent simply by enrolling them in school too early.” For more on the research at UBC’s Sauder School of Business visit www. sauder.ubc.ca.
18 member news
Sounding Board December 2012
Donate an unwrapped toy and Ring in the season with hop aboard the Santa Train Popular West Coast Express toy drive returns On Saturday, Dec. 8 and Saturday, Dec. 15, the extremely popular West Coast Express Santa Train will be back on track, offering free rides to passengers in return for new, unwrapped toys. Now in its 16th year, the Santa Train collects toys on behalf of the Christmas bureaus throughout the communities West Coast Express serves including SHARE in the Tri-Cities, the Maple Ridge/Pitt Meadows Christmas Hamper Society and the Christmas Bureau in Mission. In 2011, West Coast Express collected more than 3,900 toys and $1,260 in donations. “When we first launched the Santa Train 16 years ago, we carried about 1200 passengers over the two-day event and now we are carrying more than 2,500 passengers on the two Saturdays,” said Fred Cummings, President and General Manager of West Coast Express. “West Coast Express passengers have embraced the Santa Train because it’s a fun-filled way to give back to families in need in
their communities.” Want to come along for the ride? Bring a new, unwrapped toy to any West Coast Express Station on either Dec. 8 or Dec. 15 and in exchange for your new unwrapped toy, you will receive a same-day return ticket for the West Coast Express. The Santa Train is fun for the entire family. Santa will be on board the morning train to Waterfront Station to visit with kids of all ages, and he can be found in the West Coast Express concourse at Waterfront Station in the afternoon (3-4 p.m.) for photos. West Coast Express is also supporting a food drive in the northeast sector by collecting non-perishable food donations at any of its stations. While food donations are greatly appreciated, to hop on board a Santa Train and receive a free return-ticket, each passenger must donate a new, unwrapped toy. For more information, including a complete schedule, visit www. translink.ca.
the Arts Club Theatre Co. Enjoy three holiday performances on three different stages this month Your beloved holiday favourite is back! Make your days merry and bright by warming to the Arts Club Theatre Company’s unforgettable musical about love and friendship — White Christmas: The Musical. Now in its fourth year, the Arts Club’s production of White Christmas has already brought joy to more than 100,000 audience members. “Our show has been embraced as a seasonal tradition by thousands throughout the province,” says Arts Club director Bill Millerd. “If you love the film, you’ll discover that there’s more to love in the stage adaptation… this show captures the timeless yearning during the holidays to be with those that you cherish.” Based on the classic film, White Christmas brims with tunes that will fill you with the
joy of the season. It plays on the Stanley Industrial Alliance Stage from November 29 to December 23. Meanwhile, the Arts Club’s much-loved production of It’s a Wonderful Life returns to the Granville Island Stage from Nov. 29 to Dec. 29. Based on the film by Frank Capra, this production tells the story of George Bailey (Bob Frazer), who has a lovely wife (Jennifer Lines) and family, and performs countless good deeds for friends and townsfolk in Bedford Falls. Yet all that seems to count for naught when he faces financial adversity and a nemesis (Alec Willows). At George’s most woeful moment, his guardian angel, Clarence Oddbody (Bernard Cuffling), swoops in to remind him that faith, hope, and family make life truly wonderful. While the show’s inspira-
tional story and charm remain, some new cast members will help bring this holiday heartwarmer to life. Finally, the Arts Club also presents The Santaland Diaries on the Revue Stage from Nov. 28 to Dec. 22 — a sardonic holiday treat for adults. Written by popular humourist David Sedaris, this merrily wicked tale recalls Sedaris’s tour of duty as an elf at Macy’s Santaland. Both outlandish and illuminating, this witty one-man show showcases the comic brilliance of the multi-talented Ryan Beil (The Importance of Being Earnest, Billy Bishop Goes to War) in what is sure to be an elfin good time. For more information on these performances, or to purc h a s e t i c k e t s , v i s i t w w w. artsclub.com or call the box office at 604-6878-1644.
THE VANCOUVER BOARD OF TR Thank you sponsors! 34760 HH 5.00 x 6.200 Thank youFor hosts your generous contributions throughout November
Without your support, our events would not be possible.
December 2012 Sounding Board
member news
19
Europe is open for business Canadian Trade Commissioner Service offers tips for companies looking to enter the European market Despite the economic turmoil that continues to plague European markets, Canadian companies continue to thrive in the region. Over the last five years, Canadian businesses have invested in more than 350 projects in Europe and created more than 12,000 jobs, according to Marc Lhermitte, a partner at Ernst & Young based in Paris. Canadian companies continue to make gains in Europe in areas such as sales and marketing, manufacturing and business services, he says. The stock of Canadian direct investments in Europe totalled more than $172.5 billion at the end of 2011, according to Canadian government statistics. In the recently published Ernst & Young European Attractiveness Survey, Lhermitte found that inward investment increased by four per cent in 2011. He also found that investors are confident about Europe’s future with 81 per cent saying they expect the region to overcome its current financial problems. Bombardier, the Quebec-based aerospace and rail transportation company, is one of the biggest Canadian investors in Europe, creating 2,500 jobs over the past five years, according to Ernst & Young. Since the company holds the largest market share in rail production worldwide
and Europe is their biggest market, the company needed to have a strong European presence, says Chris Antonopoulos, the Berlin-based Vice-President of Sales for Bombardier Transportation. He says that Bombardier Transportation has been resilient to economic turmoil largely because of its client base. “About 90 percent of our customers are government-owned and they are investing a lot in rail and infrastructure to keep their countries from entering into recession,” says Antonopoulos. “That’s how we’ve been able to grow even during difficult years.” Lhermitte and Antonopoulos offer three suggestions for Canadian companies on how to be successful in the European market. 1. Establish a business base in Europe Even though Bombardier Transportation is a Canadian company, Antonopoulos says many Europeans view it as local because the company has production units, sales staff and research and development facilities based in Europe. “It’s important to be seen as not just importing equipment but producing it locally,” he says. The European Union offers a massive market for Canadian companies, with 27 member states and some 500 million people.
Proximity to this market helps with both selling products and trouble-shooting, Antonopoulos says. “The companies that are not setting up shop in Europe are having a very hard time,” he says. “You need to be close to the customer.” 2. Choose where to invest Lhermitte says that the “dynamic region” of Central and Eastern Europe remains largely untapped by Canadian investors. Over the past five years, only 10 per cent of Canadian investment has gone to countries such as Russia, Poland, Romania, the Czech Republic, Hungary and Turkey. Most Canadian projects are based in the United Kingdom, France and Germany, says Lhermitte. He says that this is largely due to historic links and a common language, as well as the qualified labour force and predictable business environment. But Lhermitte says Canadian businesses should also consider Central and Eastern Europe because of the countries’ growing purchasing power and abundant natural resources. 3. Innovate Antonopoulos says Europeans put a high value on innovation. “If you really want to be successful in Europe, particularly in our field, it’s important to be innovative,” he says.
He credits much of Bombardier Transportation’s success to being seen as an “innovation leader” in the rail industry. “We are seen as contributing with employment and our products,” says Antonopoulos. Europeans are particularly interested in research and development done within Europe, he adds. “They put a lot of emphasis on creating innovation within Europe so you really need to have a local footprint in a key industry,” says Antonopoulos. “That will show a commitment to the region and differentiate you from others — making you more of a partner than a supplier.” For more information on doing business in Europe, read the Ernst & Young European Attractiveness Survey or visit Canada-EU Trade Agreement website. If you are exporting to Europe it is your responsibility to ensure your products carry the CE mark. The Canadian Trade Commissioner Service has prepared a step-by-step guide to help simplify the process. Download your free copy or learn more at www. tradecommissioner.gc.ca. This article first appeared on the Foreign Affairs and International Trade Canada website at www.international.gc.ca.
Small Business Council meets with YMCA launches new federal procurement ombudsman Experience Works program By Sean Lyons
Members of The Vancouver Board of Trade’s Small Business Council recently met with Canada’s Procurement Ombudsman, Frank Brunetta, and Janet Barrington, Director of Quality Assurance and Risk Management from The Office of the Procurement Ombudsman. As an independent organization, the Office of the Procurement Ombusdman reports to the Minister of Public Works and Government Services, with a governmentwide mandate to promote fairness, openness and transparency in federal procurement. The ombudsman’s mandate compliments that of the Office of Small and Medium Enterprise (OSME), which helps companies engage the federal government to sell products or services. The Ombudsman’s role is to help with disputes that result during the engagement process. They can also help point businesses in the right direction and connect them with the appropriate contacts. Brunetta’s position was created in 2006, pursuant to the Federal Accountability Act. Prior to the office opening in 2008 there was no dedicated body for oversight of federal procurement activities and no neutral
dispute resolution mechanism available for suppliers or federal departments. In his presentation, Brunetta suggested that any member of The Vancouver Board of Trade that bids on federal government contracts should take advantage of a debriefing. Debriefing is the process by which suppliers are given the results of the evaluation of their bid on competitive procurements. Information can be provided to a bidder by telephone, in writing or through a face-to-face meeting with the respective department. “This process is very helpful in understanding why a bid was unsuccessful and may help greatly in the success of future bids,” said Brunetta. Brunetta urged members to contact the office toll free at 1-866-734-5169 or to visit www.opo-boa.gc.ca for more information. Sean Lyons is team lead of the Small Business Council’s communications subcommittee. He is the owner of a Clean Technology business, Lotus Pro Water, which works with companies to eliminate toxic and costly cleaning chemicals from their facility operations with a 100% chemical-free solution.Visit www.ozonecleanwest.com for info.
Job searching in today’s economy is tough – especially if you are a mature worker trying to adapt to a rapidly changing labour market. That’s why the YMCA of Greater Vancouver is launching the Experience Works program, a 12-week employment program for adults 55 years and older that helps participants gain skills, showcase experience and, of course, get working. As a part of the path to securing longterm employment, participants undergo vocational assessments and training while they explore and adapt to new labour market trends. To participate in the program, participants must be 55 years of age or older, be unemployed, be legally entitled to work in Canada, reside in Burnaby or Vancouver, and not have an established Employment Insurance claim in the last three years. Participants will benefit from a variety of workshops, on topics such as how to market employability skills or computer skill development. The program offers a work experience opportunities with local businesses and non-profit organizations and a training allowance to help cover the costs of attending training sessions. Participants
can also receive training for certifications that may be required by job placements, such as FoodSafe certification or Fork Lift Operator ticket. Employers wanted Are you an employer looking for experienced and skilled employees? The YMCA is also seeking organizations to provide six-week work placements for participants. In addition to creating diversity in your workplace, employers will benefit from decades of skill and experience through a mentorship relationship that enriches both the mentor and mentee. Grow your organization with our experienced participants. Employers will benefit from a wage subsidy that provides up to 50 per cent of participant wages, ensuring the program is accessible to your organization. The YMCA will also provide employerfocused training, including complimentary workshops and resources that will help your organization meet the needs of an aging workforce. For more information about the YMCA Experience Works program, call 604-685-8066, email experienceworks@ vanymca.org, or visit www.vanymca.org.
Your Cleaning Professionals
Sweeper Scrubber Flat Surface Cleaner Water Recycling Unit
• Street sweeping • Parking lot maintenance • Power scrubbing • Line painting • Construction clean up Accredited BBB member
• Parking Lots • Parkades • Warehouses • Production Plants • Stratas
valleypowersweep@telus.net www.valleypowersweep.com
1-888-423-8003
Since 1993