July 2013 Business News

Watch for the arrival of the Oceanex Connaigra in St. John’s Harbour this fall!

VOLUME 28, NUMBER 7, 0834-2013

JULY 2013

contents Business News is a monthly publication of the St. John’s Board of Trade.

Reproduction of any material contained in Business News is permitted provided written approval from the St. John’s Board of Trade.

Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade. We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions.

Editor: Printed by: Layout:

Alisha Morrisey British Group of Companies Roxanne Abbott

ST. JOHN’S BOARD OF TRADE EXECUTIVE Denis Mahoney Chair Sharon Horan Senior Vice-Chair Kim Keating First Vice-Chair Des Whelen Second Vice-Chair Immediate Past Chair Steve Power Paul Janes Secretary-Treasurer

COVER STORY CHAIR’S MESSAGE FEATURES Ambassador Column Policy Matters Around the Board MEMBERSHIP UPCOMING EVENTS

2 3 5 6 12 16 22 28

BOARD OF DIRECTORS Andrea Stack Andrea Brocklehurst Wayne Bruce Heather Bruce-Veitch Lynn Sullivan Karen McCarthy William Griffin Paddy Phillips

STAFF Nancy Healey Chief Executive Officer Jennifer Chaytor Manager of Finance and Compliance Lori Coleman Business Affairs Manager Margie Davis Executive Sales Director Alisha Morrissey Policy Research Analyst Wanda Palmer Director of Sales and

Member Fulfillment Jackie Bryant-Cumby Member Relations Administrator Erika Stockley Mentor for Labrador

Northern Opportunities

St. John’s Board of Trade 34 Harvey Road P.O. Box 5127 St. John’s, NL A1C 5V5 Canada Tel: (709) 726-2961 Fax: (709) 726-2003 E-mail: mail@bot.nf.ca Website: www.bot.nf.ca

Business News JULY 2013

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Cover story Oceanex - Expanding for the future

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ay 31 was indeed a proud day for Oceanex as a group of company representatives attended the launch of the Oceanex Connaigra, currently being built in Flensburg, Germany and scheduled for delivery in St. John’s in the fall of 2013. The Oceanex Connaigra, which will be the largest Con/Ro vessel in the country, is currently in the final phase of construction and preparing for sea trials in the coming weeks.

Proud of its 99% on-time performance rating, Oceanex opted to build the vessel to ensure it is well able to service Newfoundland and Labrador for many years to come. The Oceanex team is committed to continue ensuring clients’ goods arrive on schedule, and the Oceanex Connaigra has been designed with that in mind.

In the meantime, the team of professionals at Oceanex’s operations throughout Eastern Canada work diligently each day. In fact, the Company attributes its being named as one of Canada’s Best Managed companies for the last two years to their dedicated and experienced work force. The ships’ crews, longshoremen, mechanics, drivers, and office personnel – all play an integral role in the complex environment of a full service intermodal company. Whether it’s a new vehicle for central Newfoundland, a refrigerated

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container of seafood destined for Asia, or an excavator heading to a new project development, the Oceanex team is there to provide a seamless transportation solution.

Upon arrival in Newfoundland, the Oceanex Connaigra will join the current Oceanex fleet composed of the Oceanex Sanderling, Oceanex Avalon, and the Cabot all working on a fixed weekly schedule between the Ports of Montreal, Halifax, and St. John’s and responsible for the transportation of almost 50% of all goods shipped to the island. The addition of the Oceanex Connaigra to the Oceanex service will essentially double the

Business News JULY 2013

company’s RoRo capacity from Montreal, allowing for the transportation of up to 95 tractor trailers and 500 automobiles.

Notably, the ship is uniquely designed with a 40’ wide stern ramp to accommodate over dimensional loads that can weigh several hundred tonnes. The addition of a side ramp and starboard side door promotes more efficient and faster loading and unloading of automobiles.

For more information visit our web site at: www.oceanex.com

Chair’s message

stay the course I

But it’s not always that easy. Especially t’s what we’re known for around here; not for a politician. debt reduction and reigning in spending.

It’s a politician’s job to make everyone Old hat, people say. “Oh, that’s the St. happy all the time, and when you start John’s Board of Trade getting on with the laying people off, when you privatize same old thing.” services that were once filled by public This message isn’t that different. I’m sector workers, especially when times are writing to ask you – as business owners good and the province is poised for a six who have a voice and who get it, to push per cent growth in the economy, it’s really government more on debt reduction, difficult to justify. especially the public sector pensions In a recent speech to the Board, Premier which make up more than 60 per cent of Kathy Dunderdale said the budget wasn’t that debt. I’m asking you to tell politicians about being popular, it was about doing that it’s ok to do the unpopular thing for what is right. To that, she got a round of the greater good of us all.

One of our board members relayed a story applause, because every business person in the room knows in their gut that you to us the other day about a business owner can’t spend more than you make. in a “more rural” area of the province. The We all know there can be efficiencies in business owner was incensed about cuts government – we complain about them all to the public sector, she told us. He said the time in hospital waiting rooms, grocery it’s an indication that the province isn’t store lines doing well and at parentfinancially. teacher The Board “In a recent speech to the Board, conferences. member And we all explained Premier Kathy Dunderdale said know that that she the budget wasn’t about being paying for told this someone man that popular, it was about doing what else’s’ the debt is right. To that, she got a round of retirement would while putting swallow us applause, because every business the rest of whole if person in the room knows in their the province we didn’t in debt is not get it under gut that you can’t spend more the right thing control, that than you make.” to do. the public We’ve heard sector had in recent swelled days that there has been a little slippage considerably in the last five years, and backward from the strong stance originally that we have an opportunity now – with made on this budget. First the hiring freeze this newfound wealth – to turn this huge was lifted, then for jobs that were essential government ship around; to use this to government operations, then a few moment in time to build a legacy for the temporary jobs were opened up. province in the long-term.

As of this writing there were 46 Soon, the business owner was nodding, government jobs listed on the public jobs she said. He saw what many others didn’t board. Who knows how many more on the before – that for this province to grow we internal job board. A review of operations do need to get out of debt, get government on the cuts to the justice department has focused on the essentials and to create the been launched in recent days. right environment for businesses to open, succeed, and grow.

Business News JULY 2013

Chair, Denis Mahoney The core mandate review should have already served as a map for government on the appropriate course. The review was completed to focus government on the essential services it should provide, diverting the non-essentials out of government and freeing up tax payers’ dollars for debt and smart investments in the future.

This government needs to hold the line on Budget 2013. They need to stand their ground on the 10-year sustainability plan.

And they need to draw the bottom line not in the sand, but carve it in stone.

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Could YOU be our Next Employer Partner?

Connecting employers who need to hire with people who want to work

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he Community Centre Alliance is a small not-for profit organization that makes big connections and one great example is our Makin’ it Work Program (MiW). We start with our employer partner who has good, entry-level positions to fill – then we create a program around that need.

Back in 2007 our first MiW partner was Fortis Properties, who was looking to hire several room attendants to work in their three hotels in the St. John’s area. We developed a specific program to meet their need called ‘Makin’ it Work: Beginning Your Career in the Hotel/Hospitality Industry.

Then we recruited individuals who were interested in going to work in this field.

The four-week program included: • An information session to meet the employer and learn about the program, the job opportunity, and industry; • An application and interview process to select individuals for the program who were a good fit for this kind of work; • In-class sessions on topics including professionalism, customer service excellence, mock job interviews, resume and career development, as well as great content from Hospitality Newfoundland and Labrador (Super Host and Tourism Essentials) provided our participants with industry-specific certifications; • Presentations from the employer partner about their company and job Opportunities; • Hands-on work experience with the employer, where individuals gained confidence and explored their ‘fit’ for the job; and • A real job interview at the end of the program. (While our employer partners can’t guarantee that every participant will get a job, they do guarantee that all will get an interview.)

At our very first MiW info session, we had to keep running and adding more chairs to accommodate more than 50 people who showed up. Since that first program, we have replicated the successful model with other employers in other industries.

Some programs have been with one large employer partner, while others have been with a group of smaller employers in the same industry.

MiW is a very simple formula that continues to have great success.

Are you an employer who provides good paying entry-level jobs with opportunity for advancement? Then, we would love to talk to YOU about developing a program that could help attract new employees to your business or industry.

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More about the Community Centre Alliance CCA provides programs and services to support employment, literacy, education, and social and economic development.

They work closely with the five community centre neighbourhoods in St. John’s, which include Buckmasters Circle, Froude Avenue, MacMorran, Rabbittown and Virginia Park.

CCA also offers: • Community Employment Facilitators working in the five neighbourhoods, helping individuals connect to programs and employers; • Youth Achieve! assisting young people who want to graduate from high school but who are struggling with basic literacy skills. Last year’s participants saw their reading levels raised by 2.9 grade levels through this program; • Micro Business Lending to assist individuals, including those with low income, in the start-up or expansion of a small business; …and much more!

CCA raises funds for its programs through fundraising, private donations, and government and foundation grants.

“I had been out of school and unemployed for a long time. Now, I am working full-time, my selfesteem is high, I love my job and I have purpose in my life.” ~A past MiW! participant, who has now been working full-time with the same employer for almost six years.

“Our Community Centre neighbourhoods are a significant source of untapped potential employees.

We have a lot of very keen and motivated people who want to get back into the world of work. But there are sometimes barriers that prevent them from connecting with employers, such as lack of confidence, no professional resume ready, a long period off work, lack of specific certifications, etc.

We believe that none of these should prevent good, competent people from re-entering the workforce and pursuing their career and education goals.” ~ Patsy Whitten CCA’s Executive Director

Contact us today!

Kim Gillard, Program Coordinator Patsy Whitten, Executive Director (709) 722-2542 (709) 753-5670 kgillard@ccanl.ca pwhitten@ccanl.ca

Business News JULY 2013

One Port.

1.5 Million Tonnes of Reasons.

There are any number of reasons why this port has such a good reputation. But commitment of our workforce tops the list. The men and women of the Port of St. John’s are integral in moving your product to its final destination, as expediently as they can. With unmatched transit times and superior access to modern distribution networks, our skilled and stable workforce along with our cluster of committed industry partners are in it for the long haul.

In short, making St. John’s your primary port of call simply makes sense. With over 500 years of experience, our people know how to support you, your passengers and your cargo. Sheltered, connected and flexible, the Port of St. John’s is your port for marine transportation industries. Go online or call us today to learn more about how the Port can work for you.

One Port. One Focus.

www.sjpa.com

THE ST. JOHN’S PORT AUTHORITY One Water Street, St. John’s, NL, Canada Tel: 709.738.4782

ambassador column Brenda Kitchen

M

eeting new people is essential to not only the growth of the company you are representing, but for your own personal growth. During my time as Ambassador I have met a lot of different people. Each of them has inspired me in different ways. I am inspired to consider other perspectives, to stay on top of my industry and to be knowledgeable about current events.

There are great benefits to being a member of The Board of Trade. The St. John’s Board of Trade is the voice of business in our province. Policy and advocacy work is a large role we play. If you have questions or concerns please bring them forward, this is your chance to be heard. Please take the time to answer the surveys being distributed because the data is carefully considered. There are also numerous sponsorship and marketing opportunities, depending on the goals of your company.

Taking advantage of networking events with The Board of Trade is a great way to not only escape the office for a few hours, but also a chance to meet new people to grow clientele and to also make new friends. As an Ambassador I really enjoy attending our networking opportunities. The Board of Trade membership is very diverse and you never know who you might be next to when attending a mixer or a lunch and learn workshop. Plus, the team at The Board of Trade are outstanding.

I hope to see you out at our networking events, and remember that we all need to be inspired to continue to be the best we can; because there is no day but today.

Brenda Kitchen is the Manager of Business Development with FIT For Work. For information about FIT For Work please visit www.fitforwork.com or contact Brenda at bkitchen@fitforwork.com

Introducing our Rental Program

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Affordable options for private offices or open concept environments.

Consisting of a 6 x 6 workstation with filing, privacy, modesty panel and a task chair.

Visit our showroom to see the rental product on display along with our full line-up of office furniture 59 Mews Place, St. John’s, NL, A1B 4N2 • www.ionl.ca • (709) 579-0487

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Business News JULY 2013

ambassador column Lori Bragg

A

s my two year term as an ambassador is nearing an end, I wanted to thank all of the Board of Trade staff and all of my fellow ambassadors for a very memorable term. During my tenure as an ambassador, I have had the opportunity to meet a fabulous group of people and to develop my professional and personal network. My time as an ambassador has allowed me to participate in a wide range of events including luncheons, mixers, lunch and learns, our annual golf tournament and the unique “Meet Your Match�. If you are new to the community or you are looking to expand your professional and personal network, I would highly recommend the ambassador role. As ambassadors, we work with the Board to make all of the events enjoyable for everyone to attend and to ensure that each event is a beneficial networking experience. If you have any questions on becoming an ambassador or any events, please feel free to contact myself, any of the other ambassadors or any of the Board of Trade staff.

In my professional life, I am the General Manager of Jumping Bean Coffee, but I am presently on maternity leave with our beautiful new daughter. I wish everyone a great summer and I look forward to reconnecting in the fall.

Business News JULY 2013

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Excite Your Team: Create a Culture of Empowerment

It’s Your Time for a Fresh Start! Doesn’t that sound great?

Whether you lead a team of 400 or four, whether your company is new or you have been around for years, whether you are a male or a female, and whether you are the CEO or the shop-floor supervisor, the commitment to your own personal and professional development will motivate you to achieve more than you ever imagined. As you lead with a newfound grace and confidence, you will create a workplace where everyone is excited to contribute and succeed.

by Lisa L. Payne, BBA, MER, CPC

Imagine having a new perspective so that you can move through each day with ease even through you face challenges of employee satisfaction, loyalty, teamwork and accountability. Imagine interacting with your staff, colleagues and clients with heightened awareness and confidence.

Imagine dealing with changing policies and procedures, doing more with less, and feeling fully engaged while you empower your team to reach their potential; all without breaking a sweat. How would that change your world?

The good news: It is possible. To achieve different results, however, you must first change your perspective and then develop solid strategies to meet your objectives.

Does that make sense?

I believe that a successful organization is created when the individuals working there are supported, valued, and encouraged to be productive participants in the fulfilment of its mission. When employees are fully engaged and excited about going to work every day, creativity soars. Organizations that consciously create a culture of empowerment are those who will thrive in challenging economic times; they will retain top talent at a time when others are struggling to fill skills gaps; and they will become more and more profitable as others crumble.

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As a leader, you care about creating a work environment for our employees that is safe, respectful, rewarding, and fun. These are all elements of a culture of empowerment.

When you are faced with challenges, you do your best to overcome them by seeking out tools and strategies to help.

Acknowledging that you don’t have all the answers or the skills to do everything yourself – nor should you – is a sure sign of strong leadership.

When you try to do it all yourself, you know what happens. All leaders have been there.

Since we spend half of our waking hours at work, the “health” of our work environment naturally affects our own, both physical and mental. And when we succumb to pressures, everyone around us suffers, too.

As employers face challenges such as uncertain economic conditions, labour force shortages, changing demographics, and global competition, it is not surprising to hear that 18 per cent of

Canadians say that work pressure is the greatest stressor in their lives. Stressrelated illnesses are estimated to cost the Canadian economy $51 billion dollars each year in lost productivity. How much has your company suffered?

Source: Desjardins Financial Security’s 2008 Survey on Canadian Attitudes Towards Physical and Mental Health This is a devastating blow to the potential of our nation, in general, and your company, in particular, and something must be done. The organizations that will thrive in the future are those who are committed to the development of their teams; who encourage innovation; who build strong relationships throughout the organization; and who will reward and recognize contribution. Such organizations will engage and excite their teams through change by creating cultures of empowerment.

Wouldn’t you want that? Don’t you deserve that? Doesn’t everyone?

Lisa L. Payne, BBA, MER, CPC is President of Connections for Success Inc. To her corporate clients, she offers executive coaching, motivational addresses, and a new interactive workshop called “Excite Your Team: 7 Steps to Create a Culture of Empowerment.” For more information about Lisa, please visit http://LisaLPayne.com.

the time is now opportunities with the lower churchill project

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ven though the Lower Churchill project is a multibillion dollar project, its size and magnitude should not deter small and medium sized businesses from looking for opportunities that exist in the supply chain. The Muskrat Falls Project offers many opportunities for businesses and suppliers, as either a primary contractor to Nalcor Energy, a subcontractor to the project’s primary contractor, or by the way of partnerships at the subcontract level.

The St. John’s Board of Trade recently hosted a Lower Churchill Project Supplier Information breakfast session with guest speaker Gilbert Bennett, Vice-President of the Lower Churchill Project with Nalcor Energy. Bennett gave an update on the project to the 98 people in attendance at the Sheraton Hotel Newfoundland. He discussed the key construction activities of 2013 inclusive to the Muskrat Falls site and where they are in their progress today. He also discussed the procurement opportunities and how small and medium sized enterprises can get involved.

According to Nalcor Energy’s website, the project will provide significant employment and business opportunities to Newfoundlanders and Labradorians during construction. With the sanction of the project by the Government of Newfoundland and Labrador in late 2012, procurement and employment benefits are already being realized across the province.

Construction is underway and will take approximately five years to complete.

Throughout construction, the Muskrat Falls Project will generate more than $1.9 billion in income to labour and business throughout Newfoundland and Labrador, $2.2 billion in Atlantic Canada and an estimated $4.7 billion across Canada.

Gilbert relays that Nalcor Energy is committed to optimizing these benefits and communicating with the business community regarding procurement opportunities.

This includes meeting commitments made in the Impacts and Benefits Gilbert Bennett, vice-president of the Lower Churchill Project with Agreement with Nalcor Energy, gave an update on the project to the 98 people in Labrador’s Innu Nation, attendance at the Sheraton Hotel Newfoundland. the Benefits Strategy with the Government of Newfoundland and Labrador, and the The St. John’s Board of Trade is committed Benefits Memorandum of Understanding to connecting our members with between the opportunities such as these and enabling Governments of you to form strategic partnerships and Newfoundland and establish successful business ventures with Labrador and Nova Labrador business. For more information Scotia. on the Lower Churchill Project and on the procurement process please visit Bennett encouraged interested businesses https://muskratfalls.nalcorenergy.com/ procurement . You can also find a copy to keep an eye on of the presentation that Gilbert Bennett their website, and delivered at the above mentioned link or to register with the you can also view the presentation at the project team, as well St. John’s Board of Trade website at http:// as go through the www.bot.nf.ca/businessnews .

Request for Proposal (RFP) criteria. The key contracts are being awarded in 2013 so now is the time for business to make their move.

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international corporate directors W

hether it’s in the C-suites of leading biotechnology and medical research companies, the halls of Parliament Hill, or the boardrooms of Newfoundland’s most integral business organizations, Siobhan Coady has always been driven by one thing – a commitment to achieving excellence for her community.

“I really believe in developing and working in my community to ensure that we have the best possible place in the world to live, raise families and to work,” says Coady, who was born in Grand FallsWindsor and grew up in St. John’s.

Coady has had an extensive business career owning and operating companies as diverse as Newfound Genomics Inc., The Clinical Trials Centre and Bonaventure Fisheries. She is currently President of Novocom Inc and is engaged in international resource procurement and investment.

She then entered politics in 2008, serving as the Liberal Member of Parliament for the riding of St. John’s South-Mount Pearl until 2011. During that time she was Critic, Treasury Board; a member of the Industry Committee; and vice chair of the Operations Committee.

Her involvement and leadership in the business community has been tremendous as she served as a past chair (2003) and governor of the Canadian Chamber of Commerce and past president of the St. John’s Board of Trade (1993). For all of her contributions and accomplishments, Coady has been recognized as one of the Top 50 CEOs in Atlantic Canada and received the Queen’s Jubilee Medal.

Coady is now setting her sights on the boardrooms of Canadian public companies.

She currently serves on the Compute Canada board and previously served on the boards of Genome Canada, the Public Policy Forum, the St. John’s Airport Authority and the Atlantic Innovation Council to name a few.

She is a graduate of the ICD-Rotman Directors Education Program and holds the ICD.D designation. This month, she will begin the Women on BoardTM Mentorship Program, having been sponsored as a mentee by the Institute of Corporate Directors.

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With her diverse experience, expertise and steadfast commitment to fostering excellence in her community, Coady is ready to take on the challenges and opportunities that await her.

What are some of the biggest challenges facing Newfoundland and Labrador’s businesses and organizations today?

The local business community is evolving – the issues of say 20 years ago compared to today are so different.

We have definitely matured in that we have strengthened our domestic assets and resources such as energy and mining and we are much more international in the way that we conduct business.

The pace of change, the complexity of the business and broader global business opportunities are some of the issues facing companies and organizations today. ‘How do I attract and retain the best talent?

How do I capture, compete and excel to take advantage of the opportunities in Newfoundland and beyond?’ are some of the key questions that business leaders are asking and should be asking themselves every day.

It is incumbent upon all of us to branch out, look for new learning and ensure that we have to offer to the world is best-inclass – it is an exciting time to be in the province.

Business News JULY 2013

Siobhan Coady

How does an effective board of directors help to address and overcome these challenges?

What other value does a board of directors add?

A solid, engaged board of directors asks the right questions, helps you frame the issues and opportunities from a different perspective and connects you to the right people and opportunities that will broaden your business horizon and ensure long-term sustainable value.

You are a big advocate for diversity – can you speak to the benefits of diversity in senior management and on boards of directors?

Businesses do better when they look for diversity in individuals; it really does drive success. The benefit is having different

perspectives, experiences, knowledge and understanding all on the same team that is working towards the same objective – long-term success of your organization.

If everyone on the board is completely homogeneous then you miss the richness you deserve to ensure you are making the best decisions.

What do you think should be done to move the needle on diversity?

I would not want to see any mandated policies or regulations at this point. I would like to see a drive towards recognizing the value that diversity, including gender, age and experience, can bring to boards and acting on this recognition by identifying people who have what it takes to be on a board. Sometimes it is difficult to find the right people so I think we all have a role play.

You’re just about to begin the Women On Board mentorship program with John Manley as your mentor. How do you hope to benefit from participating in this program?

BoardTM program. I’ve also been speaking with my colleagues and letting them know my interest and availability.

What other challenges or issues have you encountered in the boardroom?

Ensuring that boards take a wide view of risk management and have processes to identify and mitigate risks is always a top concern. Also, there is a greater role to be played by the board in strategic planning.

In a nutshell, I think the focus for boards

today should be on risk, strategy, and communications.

In terms of preparing ourselves to tackle these challenges, we have a very diverse and committed group of business leaders who have come together, through the Institute of Corporate Directors Newfoundland and Labrador Chapter, to ensure that we have the necessary education, training and resources as well as a forum to learn and discuss key business and governance issues that impact our local, national and global communities.

On the road to success in business, the right advice can make all the difference.

I really believe in the concept of mentorship to help foster personal and professional success – we all need our own personal board of directors.

Mr. Manley has such a diverse background in business and politics, he will offer me a lot of insight on what is best practice in the boardroom and will also help me leverage my experiences and knowledge. I think that we will have incredible, dynamic conversations about some of the key issues facing directors and where things are headed. He will also mentor me on looking for board opportunities and ensure that I have the right relationships and contacts.

Why do you want to serve on boards? What is your strategy to get on boards?

I have been on a tremendous number of private as well as not-for-profit boards; now I’d like to leverage that experience and knowledge on a public board. I think I have a lot to offer and also want to test and grow my skills. I’m engaged with the Institute of Corporate Directors and have been involved with the Women on

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policy matters It’s going to be a good year; APEC Highlights from the Atlantic Provinces Economic Council annual Major Projects Inventory; • Newfoundland and Labrador will see $9.4 billion in major projects investment this year, up 10 per cent over last year.

• Major investments include; $14 billion - Hebron offshore oil project - $7.7 billion Muskrat Falls hydro project - $4.25 billion Long Harbour nickel processing facility - $2 billion Vale underground mine at Voisey’s Bay • Average wage growth in Newfoundland and Labrador is up 5.4 per cent in 2012, double the national average and the fastest rate of growth across the country for the second straight year.

• Offshore projects account for 36 per cent of the total potential value followed by electricity (20 per cent) and mining (18 per cent).

• Retail sales have slowed; down 2.1 per cent since August, but up 3.1 per cent YTD to February due to strong growth earlier in 2012 • Oil royalties are forecast to increase by $177 million in 2013/2014, as oil production increases by 12 million barrels to 84 million barrels in 2013.

• Net debt will rise by $936 million in

2013/2014 to $9.52 billion or 27.7 per cent of nominal GDP, partially as a result of an $866 million capital budget.

• Corporate income tax revenues are predicted to decline by $339 million or 46 per cent in 2013/2014 as a result of a negative prior years’ adjustment due to a decline in the province’s share of national corporate taxable income.

Labrador • Major project investment in Labrador will reach more than $1.5 billion.

• In total there is over $18 billion of potential investment in Labrador.

• About $6 billion will be invested in iron ore in Labrador.

• Iron ore prices averaged $130 per tonne in the last year with Labrador iron ore projects expected to be in the range of $42-65 per tonne, many projects remain attractive investment opportunities.

St. John’s (CMA) • St. John’s is expected to reach over $700 million in investment 2013, up from $220 million in 2009.

• Construction projects in St. John’s include;

- eight proposed hotels,

- an expansion to the convention centre,

- new office space,

- new retail construction,

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multi-phase projects at Memorial University, the St. John’s airport, CFS St. John’s and various city infra structure upgrades.

Election Preparedness This fall the City of St. John’s and all other municipalities in Newfoundland and Labrador will hold general elections.

This is your chance to have your say about who you want to see lead your cities and towns into the future.

In a survey of our members, they ranked infrastructure, transportation and responsible finance as the most important issues at the municipal level. The three least important issues were day-to-day services, recreation.

The same survey asked the members to rank four current city services from a scale of one to five with five being excellent and one being poor.

These were the results; Economic Development – 3.4 Fiscal Management – 3 Transportation – 2.4 Day-to-Day Services – 3.3 The St. John’s Board of Trade will be very involved in the upcoming election process.

Stay tuned to find out more. And if you would like to know more about becoming a candidate, whether you’re registered to vote, or how to become involved click through these links:

http://www.stjohns.ca/city-hall/ municipal-elections www.makeyourmark.ca Tell us your Boom story

The St. John’s Board of Trade wants to hear your Boom story. We’re talking about all the opportunity available in this province right now; from $18 billion in investment potential in Labrador to the niche shop in your city or town, there’s plenty of great stories out there and we want to hear yours.

Let’s focus on the positive. Tell us your story and we may publish it in our monthly Business News Magazine. Contact amorrissey@bot.nf.ca to share your Boom story.

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Business News JULY 2013

Go for Gold Looking for an enviable opportunity to be profiled as a leader in your industry?

Become a Gold Sponsor of the St. John’s Board of Trade.

Board of Trade member companies have the exclusive opportunity for this highprofile sponsorship.

This special one-year term (2013-2014) becomes available July 1, 2013.

Apply today for one of the three sponsorships available at the gold level.

Margie Davis, Executive Sales Director mdavis@bot.nf.ca 709-726-2961 ext 2 www.bot.nf.ca

Leading Business Forward

china Tian an Men Square in Beijing.

Denis Mahoney and Sharon Horan sharing a moment with a couple of local workers.

Tian An Men Square

As ambassadors for Canada we passed out thousands of Canadian Flag pins.

The Great Wall of China.

A sample of our meals, sweet and sour fish.

All photos by Joe Chase, Wanda Palmer and Glenn Rogers

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Business News JULY 2013

Shanghai at night from a tour boat.

Shanghai; a city of 23 million permanent and seven million temporary residents.

“… A great experience! Very organized. The food was great.”

“What can I say, we had a ball.”

“Fantastic!”

“Great group of people, fascinating location.”

“Trip of a lifetime.”

“Overall, I feel the trip was a great success, I certainly had a great time and I would go again.”

Taking a break from the canal boat ride in Suzhou.

Relaxing at the hotel bar after a full day of touring. One of the many hotels we stayed in.

Busi-

Lingering Garden in Suzhou.

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around the board

jump mixer

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Where can we help you go today?

Anywhere.

Whether you’re driving, flying or sailing the ocean blue we’re always here to help. www.atlantic.caa.ca

CAA ad 5 x 3 NL BoT.indd 1

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Business News JULY 2013

13-04-09 1:13 PM

Clean and Beautiful

St. John’s Board of Trade staff and volunteers took a morning to clean up our neighbourhood.

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Business News JULY 2013

Pat Quinn Luncheon St. John’s Board of Trade and RBC partnered to host a lunch with hockey great Pat Quinn.

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Business News JULY 2013

lunch and learn Phonse Fagan of A. J. Fagan Consulting Inc. hosted a lunch on alternative oil and gas.

We expect the unexpected so you don’t have to.

Talk to Cal LeGrow Mortgage specialists to find out how you can save money by lowering your monthly mortgage payments*.

You would never think your house was this valuable, but with Cal LeGrow - expect the unexpected!

Joanne Lynch St. John’s 778-4120

Diane Rogers St. John’s 778-4102

Susan Powell St. John’s 778-4118

Mandy Keating St. John’s 778-4100

Glenda Lannon CBS 834-7294

Brian Hanrahan Bay Roberts 786-4502

Mike Scott Gander 256-8625

778-2388 callegrow.com

*Savings based on mortgage rates.

Business News JULY 2013

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& Golf Classic Join us for another fabulous tournament.

JULY 11, 2013 - Bally Haly Golf & Country Club

$5 Chipping Contest – chance to win a cart (or the dollar value) for the day We will be looking for the most creative team/individual. Let your imagination soar – decorate yourself, your cart or pull cart, come up with the funkiest hat, dress in costume. Be creative and have fun with it.

Best Sponsored Hole so all our sponsors make sure you think outside the box.

Event registration and sponsorship opportunities are limited, however, profile your company and donate a prize .

Call 726-2961 ext. 9 or wpalmer@bot.nf.ca

“Being a member of the ICD gives me instant access to the latest information, best practices and key learnings for today’s directors. It broadens my perspective and leverages my experience. Here in Newfoundland and Labrador, ICD has a dynamic community of the top business leaders who are engaged, informed and active. Tapping into that resource ensures that I’m at the top of my game to meet the challenges of an increasingly complex, global business environment.”

Siobhan Coady, ICD.D Board Director, Compute Canada

We invite you to join the ICD today and connect with Canada’s director community.

Visit icd.ca/join or contact the ICD Membership team at 1.877.593.7741, x221 or x226.

Member news NL to lead country in economic growth; Conference Board of Canada This province will lead Canada’s economic growth through 2014, according to the Provincial Outlook Report by the Conference Board of Canada.

The report shows the province’s economy will grow by approximately six per cent this year – well above the 1.8 per cent for the national average.

The province’s economy will continue to outpace the national average in 2014 with projected growth of 3.4 per cent is forecast, the report says.

According to the report, large scale energy projects and a rebound in oil extraction will

boost economic growth in Newfoundland and Labrador.

Investment, which is already at an all-time high, is expected to increase by over five per cent in each of the next two years.

The Murray Premises is a great place to stay Murray Premises Hotel was awarded the 2013 Certificate of Excellence from TripAdvisor. The accolade, which honors hospitality excellence, is given only to establishments that consistently achieve outstanding traveler reviews on TripAdvisor, and is extended to qualifying businesses worldwide. Only the top-performing 10

percent of businesses listed on TripAdvisor receive this prestigious award.

Congratulations.

Oceans sciences expertise wins award Dr. Paul Snelgrove, a professor with the Department of Ocean Sciences and Department of Biology at Memorial University, and former Canada Research Chair in Boreal and Cold Ocean Systems, has received the 2013 Timothy R. Parsons Medal from Fisheries and Oceans Canada.

The award, which was established to recognize achievement in ocean sciences, is awarded to researchers for distinguished accomplishments in multidisciplinary facets of ocean sciences while working for Canadian institutions or for the benefit of Canadian science.

Snelgrove was chosen based on his work with the Census of Marine Life, a global network of researchers engaged in a 10-year initiative to assess and explain the diversity and abundance of marine life in the oceans.

Congratulations

The City of St. John’s announced the winners of it’s 22nd annual Tourism Awards, and our members are amongst the winners.

The winners include; Captain James Lynch & Captain Wanda Lynch; Spirit of Newfoundland Productions Ltd.; Charlie Carr; International Association of Women in Policing Conference; cab driver Tolson Stanley; Craft Incubator at Quidi Vidi Village Plantation Tourism contributes over $350 million to our city’s economy.

Faculty of Business Administration honours alumni and entrepreneur of the year Prominent business leaders David Kelly and Patrick O’Callaghan have been named honours alumni and entrepreneur of the year. Kelly, board member of Verafin Inc., was given the 2013 Alumni Honour Award.

O’Callaghan, president and CEO of East Coast Catering, was awarded the Gardiner

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Business News JULY 2013

Centre Newfoundland and Labrador 2013 Entrepreneur of the Year Award.

Kelly is a graduate of the bachelor of commerce class of 1968 at Memorial University.

Following a 35-year career in the Canadian technology industry, Kelly’s expertise also led him to ventures in Mexico and today he is a soughtafter speaker at international currency conventions and consulting engagements O’Callaghan began his career in the hotel industry in the 1960s after emigrating from Ireland at the age of 23. Holding a diploma in hotel management, he became general manager of the then-Hotel Newfoundland within eight years.

In 1984 Mr. O’Callaghan started East Coast Catering to meet the rising demand for catering services in the offshore oil industry and later, remote mining and construction camps across Canada. Today, the company services markets in Labrador, Western Canada and Ireland.

Great places to work Looking for a great place to work? Our members are those businesses.

The Great Places to Work Institute has named Ambir as the #3 Best Workplace in Canada in the medium-sized business category. Ambir is a leading Atlantic Canadian IT and Management Consulting firm with operations in New Brunswick, Nova Scotia, Newfoundland & Labrador and Quebec.

Cox & Palmer, a full–service regional law firm, has also been ranked as a Best Place to Work in Atlantic Canada for the 5th consecutive year by Progress Magazine.

named the 2013 Canadian Red Cross Humanitarian Award for Newfoundland and Labrador.

Templeton will be honoured Nov. 14 at the Humanitarian Awards dinner at the St. John’s Delta and Convention Centre, proceeds of which support Canadian Red Cross disaster relief and educational programs in the province.

Templeton is an investment advisor, Rotarian, and former regional manager for the Bowring retail chain. He also served as provincial commissioner and provincial president of Scouts Canada receiving their highest honour, the Bar to the Silver Acorn Award. In 2010, he became chair of the United Way’s Community Campaign, helping to raise over $800,000 for charities throughout the province.

A helping hand The community Centre Alliance wants to help you start your new micro-business.

The Micro-Business Development Group (MBDG) Pilot Project targets entrepreneurs who are planning, starting or expanding a micro-business.

Clients access training opportunities, establish new business networks, receive on-going business counselling support and have access to micro-loans. For further information contact the Micro Business Facilitator at the Community Centre Alliance www. http://ccanl.ca

Tender process changing

government tenders or check for amendments to any tender opportunities that they have been following on MERX prior to June 1.

Get your tickets Festival 500 Sharing the Voices is upon us. The international non-competitive festival of choral music takes place from July 3-10. The festival and its accompanying academic symposium on the phenomenon of singing bring together singers, conductors and scholars from countries and cultures worldwide. Here they participate in the very best of the world’s musical artistry and scholarship.

Memorial receives cash infusion RDC and Hibernia have come together to invest a total of $3 million to support research and identify new ways to optimize oil recovery. The funds will create a stateof-the-art enhanced oil-recovery research facility at Memorial University’s St. John’s campus.

The investment is in addition to the Hibernia Management and Development Corporation’s $11 million fund for the purchase of laboratory equipment and research into enhanced oil recovery announced in Dec. 2012.

Hibernia has also announced $420,000 in funding for the Department of Earth Science to develop a new environmental geology and geophysics field school.

Businesses looking to sell to the federal government will now have to visit buyandsell.gc.ca to find federal

RDC supports economic diversification projects A dozen various R&D projects will receive support of more than $1.8 million.

Developing technologies that can detect subsea leaks in underwater structures, increasing operational efficiencies in the fishing industry, and producing electricity from methane gas are among projects receiving funding from the Research & Development Corporation of Newfoundland and Labrador (RDC).

Recipients of the funding include Quinlan Brothers Limited and Rutter.

More information on the projects is available at RDC.org

A humanitarian honoured Congratulations go to former Board of Trade Chair Bruce Templeton on being

Business News JULY 2013

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industry news Member Survey – Share your Views of the Economy and Business Issues The St. John’s Board of Trade needs your input for the bi-annual Member Survey.

This survey is designed to obtain members’ views on local business and economic conditions in the region. Your views are very important and carefully considered when we set our policy agenda for the year. We encourage you to participate in the survey which will be included in our E-newsletter in the coming weeks.

Members who complete the survey will have a chance to win <insert prize>.

Economic outlook for Avalon region shows strong growth The City of St. John’s has released its annual economic outlook and the results are positive.

Highlights of the study include; Strong wage growth associated with major project activity Employment gains, combined with significant increases in wages and salaries, are expected to boost personal income by 6.5 per cent in 2013 in the CMA. Retail trade is expected to increase by three per cent in tandem with income growth.

Employment is forecast to increase 0.5 per cent in 2013, with the unemployment rate expected to fall to 6.5 per cent.

The population of the St. John’s CMA is expected to grow by 1.5 per cent in 2013 to 203,600.

Real GDP in the St. John’s CMA is expected to increase by 6.3 per cent in 2013 to over $13.9 billion.

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Economic Indicators St. John’s Metropolitan Area, 2012-2013f 2012

% Change 2012-13f

2013f

Real GDP (2007$M)

13,120

13,942

6.3%

Employment

109.2

109.7

0.5%

Labour Force

117.7

117.4

-0.3%

Unemployment Rate

7.2%

6.5%

-0.7 ppt

Participation Rate

72.3%

70.8%

-1.5 ppt

Personal Income ($M)

8,980

9,565

6.5%

Retail Trade ($M)

3,720

3,832

3.0%

Housing Starts

2,153

1,951

-9.4%

CPI (2002=100)

123.8

125.7

1.5%

Population

200.6

203.6

1.5%

Direct oil industry employment in the CMA was estimated at 2,700 person years (2.5 per cent of CMA employment) and earned (labour) income from these direct jobs is estimated at over $350 million in 2012.

The total employment impact of the offshore oil industry in the CMA, including direct, indirect and induced employment, is estimated at roughly 9,000 in 2012 or 8.2 per cent of total CMA employment.

One-Stop Employment Services launched Looking for skilled and unskilled workers?

The province is trying to make it easier to connect jobs with people through new one-stop shops for employment services.

The Department of Advanced Education

Business News JULY 2013

and Skills will assume responsibility for employment services throughout the province.

Staff will assist with career planning, setting career goals, employment counselling, labour market information, job search, resume writing, interview preparation, and identifying suitable services and programs that support employment goals. People who can benefit from these employment supports include job seekers, employers, post-secondary students, parents, new Canadians, older workers, labour and industry groups, and anyone looking for career and employment help.

For further information on programs and services visit www.aes.gov.nl.ca

C-NLOPB calls for bids on offshore parcels The 2013 Call for Bids by the CanadaNewfoundland and Labrador Offshore Petroleum Board (C-NLOPB) offers parcels of land in multiple regions including one parcel in the Flemish Pass Basin, four parcels in the Carson Basin and four parcels in the Western Newfoundland and Labrador Offshore Region.

More than 2,409,020 hectares of land are open for bidding on exploration rights.

Additional information about each of the parcels and the licence terms and conditions are available on the C-NLOPB’s website at www.cnlopb.nl.ca/.

Holyrood announces new brand, diversifying into ocean tech The Town of Holyrood has launched its new brand, and it’s only fitting that it include the ocean as the town partners on a new economic development and diversification project.

The Oceans Holyrood Initiative – led by the town with partners in ocean technology and economic development – is looking

to set up the town as a leader in oceans -related research, education, training and business development.

The new municipal brand reflects the Town’s strategic approach to oceans and an ocean-centric economic diversification program. http://www.holyrood.ca/

Premier creates Mining Industry Advisory Committee A newly formed committee will advise and inform government on important matters relating to the mining sector in Newfoundland and Labrador. The committee will also highlight opportunities that exist in the sector, advise the province on decisions related to the mining sector and offer innovative solutions to overcome potential challenges to further developing the industry.

Premier Kathy Dunderdale launched the committee at the Labrador Resource Investment Roundtable.

NOW OPEN Check out the newest Landmark hotel on Kenmount Road:

Fairfield Inn & Suites St. John’s Newfoundland A brand new hotel that will offer comfortable and functional guestrooms for a productive stay at exceptional value.

For reservations, call 855.823.6346 or visit Fairfieldinn.com/yytfi 199 Kenmount Road, St. John’s, NL A1B 3P9

Business News JULY 2013

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member profiles

st.michael’s

printshop

St. Michael’s Printshop (SMP) is an artist-run print studio which provides professional fine art printmaking facilities for established and emerging artists. A lure for printmakers who crave a space in which to create art surrounded by the extraordinary natural landscape of the North Atlantic, SMP also offers a variety of workshops for those who wish to explore printmaking as a new medium for the first time. Visitors can view and purchase prints on site in the Gallery which is open year-round.

SMP is located at 72 Harbour Drive (above Eastern Edge Gallery). For more information visit the website at stmichaelsprintshop.com or call 754-2931.

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Dale Carnegie Training is recognized internationally as the leader in bringing out the best in people. Igniting Workplace Enthusiasm for 100 years. Founded in 1912, Dale Carnegie Training has evolved from one man’s belief in the power of self-improvement to a performance development training company with offices worldwide. We focus on giving people in business the opportunity to sharpen their skills and improve their performance in order to build positive, steady, and profitable results.Dale Carnegie Training emphasizes practical principles and processes by designing programs that offer people the knowledge, skills and practices they need to add value to the business. Connecting proven solutions with real-world challenges.

Business News JULY 2013

McInnes Cooper is among the top business law firms in Canada, with more than 200 lawyers, serving clients across North America and abroad. We are market leaders in business law, litigation, energy & natural resources, tax, employment, real estate and insurance. Clients also benefit from our membership in Lex Mundi, the world’s largest association of independent law firms. mcinnescooper.com

new members The Doctor’s House

Jerry Byrne & Laurelyn Berry, Owners 21 Old Hopeall Road Green’s Harbour, NL A0B 1X0 709-582-2754 jerrypbyrne@gmail.ca

Big Erics Inc.

Oceans Holyrood Initiative

Barry Snow, Chief Development Officer 34 Salmonier Line Holyrood, NL A0A 2R0 Ph: 709-691-6592 F: 709-229-7269 Barry.snow@holyrood.ca

Dramis Telecom

Gerry Power Suite 102, 31 Peet Street St. John’s, NL A1B 3W8 Ph: 709-237-6400 F:709-739-7800 gpower@dramis.com

Michelle Hollett, V.P. Finance 99 Blackmarsh Road St. John’s, NL A1C 5X8 Ph: 709-579-2151 F: 709-576-6866 mhollett@bigerics.com

E Three Consulting

Jessica Chapman, Principal 1751 Torbay Road Torbay, NL A1K 1H3 709-725-1024 jchapman@ethree.ca

Crane Services Limited John J. Crane, President 222 Main Road Goulds, NL A1B 1G5 Ph: 709-364-6631 F: 709-364-6264 johncrane@nf.sympatico.ca

Pomroy Consulting Inc. Tina Pomroy, President 55 Julieann Place St. John’s, NL A1A 5Z5 Ph: 709-753-3047 tinapomroy@hotmail.com

Provincial Airlines is expanding!

2 Words.

Pillowtop Mattress!

The friendliest crew in the sky is now in Quebec City!

Welcome Back to the Greenwood Inn and Suites.

All the comfort, convenience and quality you’ve come to trust, along with new improvements including pillowtop mattresses and LCD flatscreen televisions in every guestroom. Call to book your reservation today!

greenwoodinn.ca

1 800 399 5381

1-800-563-2800 www.provincialairlines.ca

Business News JULY 2013 BofT Day Guide Ad.indd 1

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Upcoming Events St. John’s Board of Trade Golf Classic Join us for another fabulous tournament.

Some things to look forward to will be: • $5 Chipping Contest – chance to win a cart (or the dollar value) for the day • We will be looking for the most creative team/individual. Let your imagination soar –decorate yourself, your cart or pull cart, come up with the funkiest hat, dress in costume. Be creative and have fun with it.

• Best Sponsored Hole so all our sponsors make sure you think outside the box.

• And so much more Event registration and sponsorship opportunities are limited, however, you have one last chance to promote your business – donate a prize for the tournament.

Date: Time:

Location:

Thurs., July 11 11 am – registration 12:30 pm – shot gun Bally Haly Golf & Country Club 90 Logy Bay Rd.

Events to look forward to in August: Lunch and Learn – “Power Hours” Join Sharon Dominey as she presents on developing and improving management and leadership skills to increase your effectiveness. Her topics include: Mastering Your Time; Meetings That Rock and Managing and Improving Your Reputation.

Dates: Tues., Aug. 20 Mastering Your Time Tues., Sep. 10 Meeting That Rock!

Tues., Sep. 17 Managing and Improving

Your Reputation Time: 12:30 – 2pm Cost: $35+HST member discount

$45+HST non member Location: St. John’s Board of Trade Office

34 Harvey Rd., 3rd Fl.

Integrated Logistics Services to help you create a leaner supply chain.

• • • • • • •

Freight Forwarding Customs Warehousing & Distribution Consulting Marine Agency Immigration Project Logistics

(709) 726-7596 www.pfcollins.com

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Business News JULY 2013

Business Mixer Clovelly Golf is looking forward to a summer’s evening full of great networking, food, drinks and other fun activities.

Date: Wed., Aug. 21 Time: 4:30 pm – 6:30 pm Included as a benefit of your Cost: membership Location: 100 Golf Course Rd.