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JIM BUTTON ON WORK, FAMILY AND THE GREATEST ADVENTURE HE’S EVER FACED

O IL & GAS: MANAGING THE NEW NORMAL

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Volume 27 | Number 2

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The Minimum Wage Again

By Frank Atkins

The Secret to Impacting Government Policy Decisions

By Colin Craig

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Tech and Natural Resources a Great Fit

By Cody Battershill

CONTENTS COVER FEATURE

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Our Friend Jim

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Jim Button on work, family and the greatest adventure he’s ever faced

By Melanie Darbyshire

ON OUR COVER: ABOVE: JIM BUTTON, CO-FOUNDER OF VILLAGE BREWERY. PHOTO SOURCE: EWAN PHOTO VIDEO

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Leading Business The Calgary Report Current developments for Calgary Telus Convention Centre, Tourism Calgary, Calgary Economic Development, and Innovate Calgary

Marketing Matters

By David Parker

When thinking snow removal this winter, think to call Liftboss for DOOSAN equipment!

C

oming out of a very wet spring/summer season, it is time to start thinking about snow removal in the months ahead. If you are looking at replacing or adding to your existing fleet, think DOOSAN!! With a great range of loaders and the two newly released DOOSAN snow pusher blades, a package from Liftboss will serve you well. With one of the best warranties in the business, a number of financing options to meet your specific needs, and a focus on your continued growth and service, Liftboss will impress in all areas. DOOSAN’s wheel loader delivers exceptional power and speed, essential requirements for the work conducted under very difficult conditions. The product’s perfect quality and advanced durability will guarantee the top operation rate and a larger profit margin for customers.

DOOSAN has released two new bucket-mounted snow pusher attachments for its 13- to 20-metric-ton weight class wheel loaders and tool carriers, adding even greater utility to these versatile machines. These dedicated snow pushers offer aggregates producers an alternative to buckets and traditional windrow plowing for providing winter maintenance of parking lots, haul roads and roadways. The snow pushers – which mount to all DOOSAN general purpose and light-material buckets – are available in two widths. A 12-ft. wide attachment weighs 2,200 lb., while the 14-ft. wide versions weighs 2,400 lb. Both snow pushers are approved for use on the DL200-5, DL200TC-5, DL220-5, DL250-5, DL250TC-5, DL300-5 wheel loader models.

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Calgary Office 8010 40 Street SE Calgary, AB T2C 2Y3 (403) 301-0041

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Supporting the visions of entrepreneurs one story at a time.

Volume 27 | Number 2

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THIS MONTH’S FEATURES

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CONTENTS 28 57 64 71 77 80

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Making the “New” MGA Work

By John Hardy

he Flux in Calgary’s T Condo Market Nearly 22 per cent of Calgarians call condos home

By Colleen Wallace

Dressing Local for Success A look at Calgary fashion designers and retailers

By Erlynn Gococo

Business Plus Haskayne’s JD/MBA program produces unique graduates

By Cat Nantel

Corporate Events All the little things to remember

By Lorena McDonald

Analytics Versus Gut Feel The greater fool theory and beyond

By John Hardy

Spending Tomorrow’s Savings Less than one-third of Calgarians take advantage of RRSPs

By Mario Toneguzzi

Managing the New Normal It’s no longer fixated on ppb

By John Hardy

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THE MINIMUM WAGE AGAIN // FRANK ATKINS

The Minimum Wage Again

BY FRANK ATKINS

T

he divisive, confusing debate around minimum wage laws is continuing in 2018. As provincial minimum wages increase across the country, including here in Alberta, the proponents of the minimum wage increase claim to have scored a victory over poverty, while opponents see increased unemployment. It appears to me that the problem with the debate over minimum wage laws is similar to the problem with the (lack of) debate over man-made global warming in that emotional investment in an idea has clouded the analysis.

The claim that an increase in the minimum wage is a victory over poverty is somewhat questionable. According to Statistics Canada, approximately eight per cent of the Canadian workforce makes minimum wage, and in Alberta this is closer to two per cent. However, of the eight per cent of the Canadian workforce receiving minimum wage, nearly half of these individuals are in the 15-to-19-year-old age group.

It is likely these individuals are not in their current jobs for lifetime, but rather they are temporarily in these positions while, for instance, going to school. This is consistent with the empirical evidence which shows that most of those who earn minimum wage in any one year earn more than the minimum wage within one or two years. This is not the group that we traditionally think of as the poor and this seems to be ignored by the proponents of minimum wages.

Having multiple conflicting results from studies on the economic effects of minimum wage laws is a common problem with empirical economics. In order to undertake a study on the effects of minimum wage laws, economists must use some sort of economic model. The problem here is that there is no unique model that is universally used to

THE CLAIM THAT AN INCREASE IN THE MINIMUM WAGE IS A VICTORY OVER POVERTY IS SOMEWHAT QUESTIONABLE. describe the economy. Therefore, researchers must choose a model they believe best describes the economy, and there is an enormous debate in this area.

One of the more sophisticated (i.e. complicated) models of the Canadian economy was devised by the Bank of Canada. In late 2017, the Bank of Canada published a study which purported that recent and planned increases in minimum wages across Canada will cause a loss of 60,000 jobs. This study led to a fair amount of unfocused debate. The CBC weighed in immediately, with an article titled, “Minimum Wage Hikes Could Cost Canada’s Economy 60,000 Jobs This Year.”

However, typical of the tone of this debate, it appeared to me that the focus was not so much on potential job losses, but on the positive effect on workers’ income. This article concluded at one point that the recent increase in Ontario’s minimum wage will give $5,000 more per year to a full-time minimum wage earner and, “That’s real money in their pocket.” This is hardly what anyone should call thoughtful analysis.

For politicians, increases in minimum wages make them look good in the public eye, as if they are tackling the poverty problem. However wrong this may be is irrelevant because it gives them sympathy votes. Therefore, we are likely stuck with continued increases in minimum wages in the future.

Frank Atkins is a senior fellow at the Frontier Centre for Public Policy.

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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THE SECRET TO IMPACTING GOVERNMENT POLICY DECISIONS // COLIN CRAIG

The Secret to Impacting Government Policy Decisions

BY COLIN CRAIG

B

usiness owners often ask our organization what they can do about rising taxes and expensive regulatory decisions.

Sadly, calls and emails along those lines have been mounting over the past couple years in Alberta. Too many businesses are struggling to stay afloat, while many government officials continue to think of businesses as ATMs with endless amounts of money.

As an advocacy organization that has been around for nearly 30 years, and one that has successfully convinced governments to make a number of positive policy changes, one piece of advice stands out above all the others.

You need to speak out.

Intuitively our advice may seem unlikely – how could one person’s phone call or email to a politician make a difference?

In most cases a single call or email on an issue will not sway a politician’s opinion. However, it takes a surprisingly low number of calls or emails to get their attention.

A former assistant to a member of Parliament previously told the Canadian Taxpayers Federation that it would merely take five calls or emails on an issue in order for them to know the public was upset about something. From there fear grows in the office about how the issue could cost their boss votes.

Think about that example for a second. A typical member of Parliament serves around 100,000 people and yet it would take just five calls or emails to get their attention.

A couple city councillors previously told us a similar figure – they both estimated it would only take a dozen or so calls or emails for them to know they had an issue on their hands.

These astonishingly low numbers are likely due to the fact that apathy is quite high in Canada. Consider that over the last five Alberta elections between 43 and 59 per cent of eligible voters didn’t even vote. We can probably assume many of those same people aren’t calling or emailing their elected officials either.

The takeaway from these anecdotes is that when you take five minutes out of your day to call your local politician, it actually has a sizable impact. If a few others also make a quick call, you can see how easy it is to start impacting a politician’s decision.

When our organization convinced federal members of Parliament to scale back their golden pensions in 2012, we achieved an important victory – one that pundits said would never happen – by convincing Canadians to speak out.

We sent emails to our supporters across the country urging them to call or email their MPs and demand a reduction to the golden pensions. We released reports, put up billboards and did dozens of media interviews coast to coast to keep the story in the news and put pressure on Ottawa.

Ultimately, federal politicians scaled back their own pensions not because they wanted to, but because they received lots of phone calls and emails from the public. They knew that if they didn’t take action, they might lose votes.

So as governments continue to pile on costs for your business, know that the best thing you can do is take a few minutes out of your day and call your local politician. Tell them your story about how an issue impacts you – even if it’s just a 100-word email or a five-minute conversation.

Even better – take a couple more minutes and encourage your friends and business contacts to also speak out.

Colin Craig is the interim Alberta director for the Canadian Taxpayers Federation.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Official Nomination Form

Go Online to www.businessinCalgary.com/leaders Submission Directions: Please complete the application in its entirety. Scan and email to leaders@businessincalgary.com, or send the form via fax to 403.264.3276. If you require more information about the Leaders program please call 403-264-3270.

Eligibility: All nominees must own, be a partner, CEO, or president of a private or public company, and be

a primary stakeholder responsible for the recent performance of the company. In addition, the nominee’s company must be Calgary and area based and have been in existence for a minimum of three years.

Judging Panel and Criteria: The independent panel of judges will consist of a selection of successful business leaders from the community. The judges will analyze an extensive list of criteria that will include finances, strategic direction, product or service innovation, company leadership (including personal integrity, values and key employee initiatives), community involvement and philanthropic activities.

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TECH AND NATURAL RESOURCES A GREAT FIT // CODY BATTERSHILL

Tech and Natural Resources a Great Fit

BY CODY BATTERSHILL

hether you live and work in Alberta or another resource-rich Canadian province, you may not realize just how closely resource jobs are related to our high-tech economy.

W

FROM NEW MINING TECHNIQUES TO

Think about it: in Alberta, where some 264,000 people are directly or indirectly employed in oil and gas extraction, harnessing energy takes a huge amount of continuallyevolving technology.

EFFICIENCIES IN TRANSMISSION,

From new mining techniques to improved data analysis to better communications to greater efficiencies in transmission, the relationship between the energy and high-tech sectors is absolutely crucial to an understanding of either sector’s continuing success.

SECTORS IS ABSOLUTELY CRUCIAL

Now look west to B.C., where you can easily make a similar analogy: the B.C. forest sector makes a giant contribution to that province’s economy, supporting more than 140,000 total jobs in the province (direct, indirect and induced) and almost $13 billion in GDP. Looked at another way, B.C.’s forest sector has generated fully one in 17 jobs in the province, while roughly one in four provincial manufacturing jobs comes from the manufacturing sectors of the B.C. forest industry.

Forestry has, since the very beginning of the high-tech industry, been one of the key consumers of B.C.’s high technology.

And let’s not forget Alberta’s forest industry that adds some $2.6 billion to the provincial GDP. Forestry in our province generates annual revenues of more than $6 billion from harvesting operations and the manufacture and sale of lumber, pulp, newsprint, wood panels, engineered wood products, bio-products and ecosystem services.

IMPROVED DATA ANALYSIS TO BETTER COMMUNICATIONS TO GREATER THE RELATIONSHIP BETWEEN THE ENERGY AND HIGH-TECH TO AN UNDERSTANDING OF EITHER SECTOR’S CONTINUING SUCCESS. Both provinces have long been committed to supporting research and development focused on increasing the value of forest products through higher utilization, greater sustainability and other markers that are in part highly reliant on sophisticated technologies.

It explains why organizations such as InnoTech Alberta and C-FER Technologies, both subsidiaries of Alberta Innovates, are so successful in offering scientific, engineering and technological research to industry. From oil and gas to agriculture to environmental technology, the link between our natural resources and our high-tech sector has never been stronger.

So when you read natural resource numbers as significant as those for energy and forestry (just two sectors of many), you can be very sure that high-tech is alive and well in the natural resource economies of both Alberta and B.C. All you have to do is look!

Cody Battershill is a Calgary realtor and founder/spokesperson for CanadaAction. ca, a volunteer organization that supports Canadian energy development and the environmental, social and economic benefits that come with it.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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MAKING THE “NEW” MGA WORK // URBANOMICS

MAKING THE “NEW” MGA WORK

BY JOHN HARDY

N

othing is as constant as change.

After five years of discussion, negotiation and review, Alberta’s updated and revised Municipal Government Act (MGA) was enacted into law late last October.

This is the first time in more than 20 years that wholesale changes have been made to the MGA, which ensures municipalities are governed in an open and transparent manner, keeping municipal councils accountable, creating greater regional collaboration and improving the consistency of the municipal revenue framework and legislation. It ultimately affects the lives of all Albertans because the MGA sets the rules for how local governments function and provide services to citizens.

Despite the official approval, it is still a work-in-progress. The contentious hard part now beings: deciphering, interpreting, understanding and (particularly for Calgary-area builders and developers) working with the massive and wordy 710 sections. It makes up the second-largest piece of legislation in the province.

“Some of the changes to the MGA were necessary,” explains Grace Lui, director of strategic initiatives and government relations with BILD Calgary Region, the respected voice of the city’s building industry. “Aspects like recognition of conservation reserve areas, the requirement for municipalities to list policies and explain how they are related to each other, as well as to any statutory plans and bylaws passed.

“There is no doubt that some of the changes to the MGA are beneficial for industry. But the timing, the details, the complexity and the overhauls mean enormous changes for Calgary-area builders and developers.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

“There is so much detail in the updated MGA and so much detail to absorb and consider. BILD members are concerned about the speed at which the regulations have come out.

We would have liked to have more time to think about implementation. There are decades of policy impacting Calgary’s building and development industry and we already have so much regulation that it makes it a challenge,” she cautions. “The adjustment pain could be significant.”

Interpretation and implementation of the “new” MGA is an urgent detail for Calgary-area builders and developers. “BILD Calgary Region has worked hard with the province to try to mitigate the negative impacts on our industry and in turn consumers,” points out Gillian Lawrence, general manager of land development with Calgary-based Remington Development Corporation and a BILD Calgary member.

“There are still lots of unknowns and uncertainty. It will take time to understand the full consequences of the new MGA. The industry only has a basic understanding of what may come with the charters as we have not been directly involved in the charter discussions and consultation with industry has been minimal.

“Additional powers above and beyond the current building code, additional environmental powers and the definition of affordable housing are all concerns for the industry,” she says. “Changes to the MGA are going to add costs at a time when our industry and Albertans are already struggling.”

According to Brett Friesen, vice president of community development with Hopewell Residential and a BILD Calgary member, “The challenges are trying to predict the unknowns and that we have full transparency on the impact. Currently

MAKING THE “NEW” MGA WORK // URBANOMICS

“THE CHALLENGES ARE TRYING TO PREDICT THE UNKNOWNS AND THAT WE HAVE FULL TRANSPARENCY ON THE IMPACT. CURRENTLY THERE IS A LOT OF RISK AND SOME OPPORTUNITIES, BUT IT MAKES PURCHASING LAND DIFFICULT, GIVEN THE UNCERTAINTIES AHEAD.” ~ BRETT FRIESEN

there is a lot of risk and some opportunities, but it makes purchasing land difficult, given the uncertainties ahead.”

Although discussions are happening to achieve clarification on several builder-development issues and concerns, two significant aspects are the new MGA’s definition of growth management boards (GMBs) and redefined off-site levies.

GMBs, already in place in Edmonton, will now be mandatory in Calgary to address land-use planning, servicing of growth, regional service delivery, cost sharing, infrastructure planning and dispute resolution.

Despite the innate complexity of the new MGA, Lui simplifies the basic formula. “Although there is much good work and rapport between the city and the industry, the constant is that if a developer is charged a levy, for anything, the cost is passed along to the consumer.”

“In Calgary, developers already pay a voluntary community/ recreation levy which includes libraries, police, fire and

recreation centres and a mandatory transportation levy,” Friesen adds. “So this will not have a major impact in Calgary like it will in Edmonton. But, so far, interchanges on provincial highways are not included, so any additional levies like that would ultimately reduce affordability for new homebuyers.”

Lawrence agrees. “Various aspects of the new MGA will mean that it is going to cost more to bring product to market and it will cost the consumer more too.

“There is still a lot of uncertainty which adds risk to our industry. Without a doubt, costs will increase. It is going to take time, mostly because there has not been enough analysis and research into a number of the policies and regulations, despite BILD’s advocacy on this front.

“Figuring out the implementation of the new MGA will be borne by municipalities and industry. It will be a big undertaking,” she notes with cautious optimism. “There is still a lot of work to be done.”

ABOVE: BRETT FRIESEN, VICE PRESIDENT OF COMMUNITY DEVELOPMENT WITH HOPEWELL RESIDENTIAL.

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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smarter growth initiative our goal is simple: to engage and educate citizens in dialogue on smarter urban planning and development in the calgary region Smarter Growth Initiative sheds light on the where, why and how all the pieces fit together in our growing towns and cities, and where your voice makes a difference.

Get engaged at smartergrowth.ca

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Horizon North Logistics Acquires Moose Haven Lodge and Updates the Fort McMurray Strategy Horizon North Logistics has completed the acquisition of Moose Haven Lodge in Janvier, Alberta and has formed two new Aboriginal partnerships in the Fort McMurray area – key components of the corporation’s strategy with respect to opportunities in the northern Alberta region.

Moose Haven Lodge Acquisition Located 120 kilometres south of Fort McMurray, Moose Haven Lodge is a 288-bed open lodge servicing workforce accommodation needs in the Highway 881 corridor between Conklin and Fort McMurray. The acquisition is a key element of the corporation’s newly-signed partnership with Janvier Aboriginal Industrial Services Corp., a wholly-owned entity of the Chipewyan Prairie Dene First Nation. Both the acquisition and partnership position Horizon North to secure future contracts in the surrounding area.

The purchase price of Moose Haven Lodge is $14 million, payable in a mix of cash and Horizon North common shares.

“We have invested significantly in our industrial business park, with Moose Haven Lodge as a vital piece to its future development,” says Chief Vern Janvier of the Chipewyan Prairie Dene First Nation. “We are pleased that Horizon North purchased the lodge and joined with us to finalize our new camp and catering partnership. As partners, we look forward to generating new business opportunities in our territory which will benefit the nation and all our members.”

“To win work in these areas, Horizon North and our customers believe strong relationships are required with the Aboriginal communities who call the regions home,” says Rod Graham, president and chief executive officer of Horizon North. “Directly related to our relationship with Chipewyan Prairie, for example, we have already secured two significant operations contracts and believe there is potential to operate up to 10,000 beds within the nation’s territory.”

Fort McMurray Strategy Horizon North’s partnership with the Chipewyan Prairie Dene First Nation coincides with another new Aboriginal partnership with Acden Services Limited Partnership, a wholly-owned entity of the Athabasca Chipewyan First Nation, north of Fort McMurray. These two new

partnerships join 21 others which Horizon North maintains with Aboriginal communities in Canada.

“This partnership is a significant one for Acden,” says Garry Flett, Acden’s president and chief executive officer. “One of our leading priorities is to provide our clients with a diverse portfolio of services. Horizon North’s reputation for quality, integrity and cost effectiveness is a perfect fit.”

As a Progressive Aboriginal Relations (PAR) committed company, engagement with Aboriginal communities in the areas where Horizon North operates is a key part of the corporation’s social responsibility.

“When we look to the future with these two Aboriginal communities, as we do with all our partners,” says Graham, “we seek ways in which we can jointly use our expertise in industrial services and modular solutions to build lasting economic value and quality of life for the families and individuals who call the region home.”

Graham adds, “The reduction in oilsands activity is certainly well documented. Less talked about, however, is that opportunities are still plentiful in the Fort McMurray area with the right partners. With our diverse offerings and our commitment to the communities we work with, Horizon North is well positioned to leverage the potential in this region.”

ABOVE: ARNOLD BLACK, COUNCILLOR, CHIPEWYAN PRAIRIE DENE FIRST NATION; SHERRY DELTESS, COUNCILLOR, CHIPEWYAN PRAIRIE DENE FIRST NATION; PAT HAMMERSCHMIDT, VICE PRESIDENT ABORIGINAL AND COMMUNITY RELATIONS, HORIZON NORTH LOGISTICS; ROD GRAHAM, PRESIDENT & CEO, HORIZON NORTH LOGISTICS, VERN JANVIER, CHIEF, CHIPEWYAN PRAIRIE DENE FIRST NATION.

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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2018 FEYA Award Finalists Showcase Calgary’s Family Business Success Stories The business community in Calgary has a great history of entrepreneurial family success. Each year the Family Enterprise Xchange (FEX) celebrates many of these success stories through the nominations and presentation of the Family Enterprise of the Year (FEYA) Award.

The 14th Annual FEYA Awards gala will take place March 1, 2018 at Calgary’s Ranchmen’s Club. Tickets sell for $150 (members) and $170 (non-members) per person and include a cocktail hour, followed by dinner and the awards. Competing for this year’s top regional honour as the Family Enterprise of the Year are three well-known local businesses: David Aplin Group, McArthur Fine Furniture and RGO.

The Finalists: David Aplin Group A private family and employee-owned corporation founded in Alberta in 1975, David Aplin Group has been recruiting to fulfil talent demands for Canadian businesses for over 40 years. As one of Canada’s Best Managed Companies, David Aplin Group has opened doors to opportunities for thousands of professionals and employers, advancing careers, growing businesses and changing lives.

McArthur Fine Furniture In 1938, the vision for McArthur Fine Furniture was clear – bring people home, exceed expectations and deliver a unique experience. Three generations later this vision still remains the cornerstone of how they do business. With showroom space in Calgary and Airdrie, McArthur continues to boast the most exclusive lines of furnishings along with awardwinning designers. No matter the room or budget, they have built the business one client at a time.

needed to efficiently operate a modern office: furniture, window coverings, flooring, office technology, installations, sales, service and office move management. Whether it’s a 40-storey tower, public institution, health-care facility or dazzling corporate showpiece, RGO is in the ideal position to present the widest selection at the most competitive prices.

As an Alberta company with a reputation for hands-on service and dedication to quality, they can also guarantee a personalized experience that elevates the work environment or a home beyond expectations.

RGO

The Family Enterprise Xchange (FEX) is an independent association of business families and their professional advisers. Operating as a supportive community, FEX provides shared wisdom, world-class expertise and education to address the realities and opportunities unique to family enterprise.

RGO prides itself on the long-standing traditions implemented when it was created in 1966. A unique provider of total office interior solutions, RGO offers everything

Plan to attend this year’s gala to celebrate the substantial and vital role family-controlled businesses play in the local community.

ABOVE: LAST YEAR’S FEYA WINNERS. BRITT LAND & ENGAGEMENT: RAY RAMSAY, BRITTNEY RAMSAY, BREANNE RAMSAY, DAYNA MORGAN AND SHELLEY RAMSAY.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Back row left to right: Ian Bestwick Mitchell Grant David M Woodman Jesse Riegel Sean Miller Jenny Heidebrecht Aylin Morgul Front row left to right: Jordyn Hauber Cynthia Huang Jared Hundza Katie Adams Brogan Mueller Logan Mennis

Success Adds Up MNP proudly congratulates our MNP Calgary writers on successfully completing the 2017 Common Final Exam (CFE). As a leading national accounting and business consulting firm, here are 14 more ways we can help your business succeed.

Contact Trevor Winkler, Regional Managing Partner, at 403.536.5557 or trevor.winkler@mnp.ca

Missing: Craig Bloom

MNP.ca

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THE FLUX IN CALGARY’S CONDO MARKET // REAL ESTATE

THE Flux

IN CALGARY’S CONDO MARKET

NEARLY 22 PER CENT OF CALGARIANS CALL CONDOS HOME

BY COLLEEN WALLACE

C

ondo ownership is a hot topic in many Canadian housing markets.

Housing market analysts and developers continually monitor trends, underscoring the relevance of factors such as demographics, price points (compared with single-family/ detached homes), migration, the economy, affordability, the job market and consumer confidence.

According to data from the most recent Canadian census released late last year, almost one in seven Canadians have opted for condo living. More than 13 per cent of Canadian households live in a condominium, a ratio that has increased

by 1.2 percentage points from the last census five years ago.

The stats also show that more than two-thirds were condo owners, with the balance being renters.

Close to home, according to Calgary-specific new-home housing numbers, 22 per cent of Calgarians have chosen condos versus single-family homes, second only to the Vancouver housing market, where nearly 31 per cent call condos home.

Although the Calgary condo market has been on a 10-year boom streak, the recent two-year downturn is, by no means, the only factor impacting the city’s 2017 condo market trend or the 2018 forecast.

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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THE FLUX IN CALGARY’S CONDO MARKET // REAL ESTATE

There’s the supply and availability factor. The price factor. The immigration and migration factor. The job market factor. The affordability factor. The consumer trend factor. And more.

“World events play a major role in the confidence of buyers, who are directly affected by changes in their economic outlook,” explains Calgary Realtor and condo specialist Mike Leibel, associate broker with CIR Realty. “The lack of diversification in the Canadian job market and Alberta in particular, and more specifically in Calgary, have had a big impact.

“Calgary condo prices are way cheaper than Toronto and Vancouver. And there’s no shortage of people interested in buying,” he notes with enthusiasm.

“But it seems whenever we turn around we are being hit with another tax increase in all areas of government. Federal, provincial and civic governments are all spending more, and passing these costs on. Carbon tax, minimum wages, rising interest rates, a tightening of mortgage lending regulations, increased property taxes and floundering NAFTA negotiations all play a role in driving prices down.”

CREB (Calgary Real Estate Board) continually updates, analyzes and tracks area housing sales and listings, and underscores the significant impact of condo supply and prices.

Citing November year-to-date statistics, CREB chief economist Ann-Marie Lurie points out, “Condo sales have totalled 2,699 units, 4.6 per cent higher than last year. While sales have increased, so too has the availability of new listings.” The supply of new listings over the same time frame have totalled 6,954 units, which is higher than last year and the highest yearly average on record. Based on current sales it would take nearly seven months to clear out all of the inventory.

The relationship between the sales and inventory is important for understating the state of the market. Lurie explains that, while demand is improving compared to last year, there is still a significant amount of supply in the market causing prices to fall. Benchmark prices have averaged $264,000 this year, four per cent below last year but 12 per cent lower than previous peak levels.

“Some of the challenge with the condominium and apartment market is not just the supply in the resale market

ABOVE: MIKE LEIBEL, CALGARY REALTOR, CONDO SPECIALIST AND ASSOCIATE BROKER WITH CIR REALTY.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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THE FLUX IN CALGARY’S CONDO MARKET // REAL ESTATE

but supply in competing new-home and rental markets.

More rental product has prevented some people moving from rental to ownership and it may have impacted the smaller investor purchaser, concerned about lower rents and higher vacancy rates.

“At the same time all of the new construction is competing with the resale market. Builders are offering a significant amount of incentives for purchasers looking for a new property. The large amount of competition coming from the new-home sector has had a more significant impact on the resale condominium product versus single-family homes,” Lurie adds.

“While demand eased across all sectors, elevated supply levels in the condo sector caused far steeper price declines than what we recorded in the detached market.

“There has also been a tremendous increase in the number of new builds saturating the condo market, all over the city.

These sales may not be reflected in our local board statistics

since they are most often direct from the builder.”

Leibel is an upbeat and positive professional who shrugs off lingering references to the Calgary slump and affordability.

“There are condos available in just about every price range. It is one reason why many buyers may prefer condos.

“For new condos, the Calgary hot spot is the Downtown East Village community, a spectacular new development with years of strategic planning invested and lots of amenities. For resale, it is the beltline community, followed by the downtown commercial core. These communities have the highest density of condominiums and the highest number of sales.

“I believe that 2018 will be a good year,” he notes with enthusiasm. “Hopefully we will have the bad news built into the prices and we are definitely ready for some good news.

The traffic here is crazy now and the shopping malls are full.

There seems to be a lot more optimism than previous years.

Everything is on sale!”

ABOVE: ANN-MARIE LURIE, CREB CHIEF ECONOMIST.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Meet the Tanya Eklund Group. #1 Team in 2016 in the #1 RE/MAX Brokerage in the World!

Tanya’s been one of Calgary’s top selling Real Estate Agents for years. She has valuable experience working within Calgary’s Inner City Real Estate market, and she understands every client is as unique as their home.

Tanya takes the time to listen; to understand your wants and needs. She doesn’t expect your trust, Tanya earns it by consistently remaining honest, accessible and tenacious. That’s what sets Tanya apart.

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27

DRESSING LOCAL FOR SUCCESS // DRESS FOR SUCCESS

Dressing Local for Success A LOOK AT CALGARY FASHION DESIGNERS AND RETAILERS

BY ERLYNN GOCOCO

W

hat’s the first thing that comes to mind when you hear the words “fashion” or “haute couture”?

Probably not Calgary. In fact, it likely isn’t even the second thing that comes to mind. But the city is home to some well-known, well-established local designers such as Nina Kharey of the fashion label House of Nonie, Darren Biedermann, creative director and owner of Supreme Men’s Wear, Anneke Forbes of fashion label Anneke Forbes, and fashion industry experts like Kara Chomistek, president and co-founder of the organization PARK. As a young girl, Nina Kharey knew she wanted to create clothes, learning how to sew at a young age. Both her parents were already in the industry so it seemed as though fashion design would be a natural and appropriate path.

However, before fashion design, Kharey ended up pursuing a degree in engineering and working as a computer engineer.

Sadly in 2005, tragedy struck and she lost her brother. As a source of healing, Kharey started sketching on the side.

In 2008, Kharey started to design fashion and in 2015, “officially” made a career switch. That same year she met Barbara Atkin who, at the time, was the fashion director for Holt Renfrew. “Barbara started mentoring me and helped me to recognize my talent.”

According to the fashion label’s website, “The House of Nonie brand creates ready-to-wear modern womenswear.

The collections are made with a tailored and refined esthetic, with a twist of Eastern inspiration that is at the heart of the ABOVE: HOUSE OF NONIE DESIGN, FLARED TROUSERS AND BOW BLOUSE, SLEEVELESS TRENCH AND LINEN WRAP VEST AND FLARED TROUSERS. RIGHT: NINA KHAREY, FOUNDER/CREATIVE DIRECTOR, HOUSE OF NONIE. PHOTO SOURCE: HOUSE OF NONIE

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

founder Nina Kharey’s creative vision.” Kharey designs for women who appreciate simplicity and also the basics; women who are leaders and not afraid to speak up.

House of Nonie was nominated for the Swarovski Emerging Designer of the Year Award at the 2017 Canadian Arts & Fashion Awards Gala.

A household name for more than half a century, Supreme Men’s Wear Ltd. (SMWL) will celebrate its 70th anniversary this year. The clothing retailer was established in 1948 and is Calgary’s oldest operating, independent men’s clothing store.

Darren Biedermann purchased the business from his father in 1995 and, since then, has helped it grow and evolve as the retail market and fashion trends continue to change.

“Supreme is a distinctive, fashionforward, experience-focused boutique offering premium, readyto-wear garments and a diverse offering of custom clothing.”

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// DRESS FOR SUCCESS

HASKAYNE

MBA ‘‘

My Haskayne MBA afforded me the opportunity to find a career path that suits both my passion and skill sets. It gave me the chance to develop a widerange of practical skills, from leadership and people management to public speaking, which are critical as my career progresses.

I also met many amazing people, who have become great friends, colleagues and mentors.”

Kelly Lai, MBA’13 Senior Consultant Ernst & Young

The Haskayne MBA. Calgary’s MBA.

Biedermann has been actively putting his creative genius, decades-old industry relationships and industry intuitions to work in developing SMWL’s own internal retail menswear brands. “The Biedermann and Supreme brands have been extremely well received, and the premium Biedermann brand, in particular, is beginning to garner national and international attention from high-end fashion customers and industry insiders alike.”

“The Biedermann and Supreme brands’ mission is to conceptualize, manufacture and distribute the highest-quality, most creatively-designed, carefully-crafted, proudly-Canadian clothing products and accessories available in the world today.”

The retailer also carries other well-known international brands.

haskaynemba.ca

ABOVE: BIEDERMANN FASHION COAT ‘THE PRES’, BIEDERMANN WAISTCOAT ‘PROSPERO’, BIEDERMANN SHIRT. PHOTO SOURCE: ROB NICHOLL

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

// DRESS FOR SUCCESS

“WHAT SETS SUPREME APART FROM THE REST IS ITS CONTINUAL DEDICATION TO BRING ITS CLIENTS ALTERNATIVES TO THE COMMON AND PREDICTABLE.” ~ DARREN BIEDERMANN

Biedermann says, “What sets Supreme apart from the rest is its continual dedication to bring its clients alternatives to the common and predictable.

Unique, well-tailored garments with European influence, acute attention to detail and the highest-quality value standards is what has sustained Supreme throughout the years and is at a pinnacle offering today.”

Like Kharey, Anneke Forbes learned how to sew at a young age which helped jump-start her love of fashion. “We didn’t get to shop very often, so sewing was an opportunity for me to have new clothes. I think most kids are aware of the transformational power of clothing when it comes to fitting in, and I was no exception. Clothing gave me confidence and the best way for me to obtain it was to make it,” says Forbes.

Belonging is closer than you think

“At a certain point as a teenager, the patterns I obtained at the fabric store weren’t cutting it, so I would tweak them to suit my taste. Even when I used ready-made patterns, I felt like so much of design comes from the fabric selection and finishing choices. This concept still has an effect on my work, as my styles are very classic. I make my jackets special by choosing luxurious fabrics, like the softest lambskin or cashmere, and through bespoke finishes like bound buttonholes.”

Forbes grew up in Antigonish, Nova Scotia, attended fashion school in Toronto, and now lives in Calgary. Her fashion label Anneke Forbes offers limited production, ready-to-wear jackets and coats, designed and handmade in Calgary.

Her studio, located in cSPACE King Edward, is open to the public for shopping.

“People have responded positively to the ability to see and speak with the person who made their clothing. It brings them closer to a process we have been so removed from for so long due to the rise of overseas production and fast fashion.” Her designs are classic, versatile and comfortable, which according to Forbes, makes getting dressed for a full day so much easier.

Forbes also participates in local events, such as those produced by the PARK team. PARK, which stands for Promoting Artists Redefining Kulture, is a nonprofit social enterprise that “promotes creative talent and most simply put, fashion culture,” says the organization’s president and co-founder, Kara Chomistek.

ABOVE: DARREN BIEDERMANN, CREATIVE DIRECTOR, SUPREME MEN’S WEAR. PHOTO SOURCE: ROB NICHOLL

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BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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// DRESS FOR SUCCESS

A InvItAtIon

Call ahead to book your experience and for VIP parking

403 266 4417

Who

You and the wonderful people you want to share with us.

What

An original men’s fashion presentation.

When

10 - 6 ish Mon - Sat

Where

SUPREME Corner of 4th Avenue & 3rd Street SW Downtown Calgary

Why

Supreme is a catalyst for change, using fashion to connect aware & beauty-filled people who are making a difference.

SMWL.CoM 32

PARK’s mandate is to create opportunities for developing fashion designers and artists to share their work and sustain a profitable business. “We do this,” says Chomistek, “through education and mentorship (PARKFORUM), our emerging designer and artist showcase (PARKSHOW), our outdoor artisan market (PARKSALE) and our luxury designer showcase (PARKLUXE). Each program focuses on bringing together our creative communities in ways that are mutually beneficial for our stakeholders: the artists we support and a specific consumer demographic. In 2017, we further expanded our organization to include an online and brick-and-mortar store, PARKSHOP, along with an in-house creative agency.”

PARK was founded by a group of University of Calgary students led by Chomistek and Jessie Li in 2008. Chomistek says, “The idea for the organization came from needs and problems that we observed within the creative industries.

There was a large creative exodus happening in our city due to a lack of community, resources, funding and awareness about creative career paths.”

PARK will be celebrating its 10-year anniversary by hosting a large celebration June 22-24 in East Village, including their grassroots event PARKSALE and inaugural fashion show PARKSHOW. “This is going to be the biggest fashion

ABOVE: RUNWAY AT PARKSHOW 2017.

PHOTO SOURCE: OURPARKONLINE

FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

DRESSING LOCAL FOR SUCCESS // DRESS FOR SUCCESS

“OUR HOPE, IS TO CONTINUE TO CONTRIBUTE TO THE DIVERSIFICATION OF OUR PROVINCE AND GIVE CREATIVE COMPANIES AN OPPORTUNITY TO FURTHER DEVELOP THEIR PRODUCT OFFERING GLOBALLY.” ~ KARA CHOMISTEK diversification of our province and give creative companies an opportunity to further develop their product offering globally.”

“We have an amazing local story that is getting more locally focused

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event that has been produced in Western Canada and we’re very proud to be doing it in Calgary!”

When asked about success stories, Chomistek struggles to name them all. “There are so many!” she says. “Anneke Forbes is a designer that has been involved with PARK and our PARKSHOW, PARKLUXE and PARKFORUM programs since 2015. What I love about Anneke is her commitment to manufacturing in Canada and slow fashion. She takes pride in her coats and has locally manufactured over 20 styles.”

“Our hope,” says Chomistek, “is to continue to contribute to the ABOVE: KARA CHOMISTEK, PARK COFOUNDER/PRESIDENT. PHOTO SOURCE: OURPARKONLINE

all the time. There isn’t a group out there more conscious of keeping money in the local economy. We believe in ‘one hand washes the other’ and stand proud of our family, friends and community,” says Biedermann.

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BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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OUR FRIEND JIM // COVER

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

OUR FRIEND JIM // COVER

OUR FRIEND JIM JIM BUTTON ON WORK, FAMILY AND THE GREATEST ADVENTURE HE’S EVER FACED

BY MELANIE DARBYSHIRE

E

xceptional people come in all shapes and sizes.

Old, young, male, female, teacher, parent, friend, colleague – it’s not so much who they are, but what they do that makes them so great. Indispensable to those around them, they leave lasting effects wherever they go, whatever they do.

One such exceptional Calgarian is Jim Button. A man with several different hats, Button is many things to many people: friend, business partner, husband, father, leader, collaborator, teammate, entertainer. For over 20 years, he has helped build the community of Calgary – one business, one event and one organization at a time.

“My philosophy has always been that if you just keep giving, and you don’t really care what the get is, you get back twice as much as you could ever possibly have imagined,” Button says earnestly. “Whatever you give out, you always get more back.”

And give out, he certainly has. Whether it’s by donating 10 per cent of the bottom line of Village Brewery (which he co-founded in 2010) to city causes, the creation of Circle (a travelling food, beer and music carnival), coaching his kids’ soccer teams, serving as Dave Kelly’s “Ed McMahon” during the Dave Kelly Live shows, or running SuperJocks – a sportsbased business networking group with over 90 participants for 25 years – Button’s always doing something for others.

ABOVE: JIM BUTTON, CO-FOUNDER OF VILLAGE BREWERY. PHOTO SOURCE: EWAN PHOTO VIDEO

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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OUR FRIEND JIM // COVER

in early December 2017 for pancreatitis. “So I’ve got it in the lungs, the pancreas, the adrenal gland and now somewhere in the abdomen.” He started a new immunotherapy drug just before Christmas, his outlook unfailingly positive. “I’m onto the next adventure.”

Starkly honest, heart-wrenching and funny, Button’s blog documents his cancer journey. “It’s now driving my purpose,” he says. “Because of the blog I have a lot of people who want to talk to me about their cancer.” Talking about cancer, he laments, is something people normally don’t want to do.

“When I’m at the hospital, and I’m walking down the hallway in my gown with my IV bag, nobody looks at me; everybody averts their eyes. It’s just what we do in our society.”

His blog is meant to put cancer out in the open. “I’m trying, in whatever small way I can, to help change people’s perception of cancer, or sickness, or death, and how to cope with it.” Button’s cancer is also part of his Dave Kelly Live performances (all unscripted), included in his “Tub Talks” (chats he and Kelly have in the bath together) and the impetus for his Bucket List – a list of things he’s accomplishing, some with the help of Kelly, including getting massive (fake) back tattoos. “Let’s just talk about it; let’s have it out. Because you’ll be way happier if you do.”

Scaling back the giving is a difficult thing for Button to do, but something he’s coming to terms with these days. This is because he has cancer. Originally diagnosed with renal cell carcinoma (kidney cancer) in the spring of 2014, Button’s kidney was removed in July of the same year in hopes of eradicating the “rat bastard.” A routine monthly checkup in April 2016 revealed the cancer had returned, this time in his lungs. After being told he had a year or two to live, Button began immunotherapy drugs. He also started a blog – gatherwithjim.com – to document his cancer journey.

“There’s another growth in my abdomen,” he reveals matterof-factly, just home from having spent a week at the hospital

Mindfulness and being in the present are also helping Button navigate the journey. This was sparked by a text from friend Avnish Mehta, hours after he received the news that the cancer had metastasized in his lungs, in which Mehta already knew (unbeknownst to Button or his oncologist) of the cancer’s return. “That text changed it all,” Button says.

“I’ve always been very spiritual, always thought things aren’t coincidences, always seeing connections not things. And once I understood that, all of a sudden I became more mindful.”

He and his wife, Tracey, took a mindfulness course at the Tom Baker Cancer Centre, practice meditation regularly and began qigong in January. “The more you say something, the more you think about it, the more likely it is to be true,” he says of believing he is cancer-free. “My philosophy isn’t that I’m dying; my philosophy is that I’m living.”

Button doesn’t just live, he lives large. A skilled multitasker, he’s been instrumental in the city for years. Originally from TOP: DAN EVANS AND BILL HUNT OF EVANS HUNT. MIDDLE: JIM BUTTON AND PARTNERS AT VILLAGE BREWERY. PHOTO SOURCE: COLIN WAY

BOTTOM: “TUB TALK” WITH JIM BUTTON AND DAVE KELLY.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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OUR FRIEND JIM // COVER

Ontario, he drove to Calgary in 1993 in hopes of starting a business. He and his oldest brother, Hal, (he is the third eldest of four brothers) started a financial planning company.

“Hal was in the insurance business and it was his idea – and financial planning was not a thing back then,” he recalls. “We hired 21 people and were the largest independent financial planning company in Calgary.” Button ran the marketing and sales functions.

“I got bored with it,” he chuckles, “so I left. And I saw that nobody was doing events from a marketing perspective. I thought ‘the one-to-one engagement – the experience stuff – is a really powerful marketing tool, why aren’t people doing it?’” In 1997, he and Dave Howard started The Event Group (TEG).

He stayed at TEG for seven years, helping to build it into one of Canada’s most successful strategic event management and concert production companies. In 2004, he sold his shares in TEG and joined Arlene Dickinson at Venture

Communications. One of his clients he had brought to Venture – Big Rock Brewery – eventually offered him a position as vice president. He joined the brewery in May 2007 and departed less than three years later after a disagreement with leadership on the direction of the company.

He wasn’t jobless for long though. “I was asked to leave on a Tuesday,” he recalls, “and I got three really good job opportunities that same week.” These included co-founder of Village Brewery and business development at Evans Hunt, a leading Calgary digital communications agency. Button remains a key player at both companies today.

“At the time I was on nine volunteer boards, coaching both kids in soccer and running SuperJocks,” he adds. “I was also playing soccer and was a husband and a father.”

How did he do it all? “Everybody always asks that, and I’ve never in my life had a complete answer,” he says. “It’s pretty

ABOVE: JIM WITH WIFE TRACEY, DAUGHTER AMANDA AND SON JACK, SUMMER 2016.

PHOTO SOURCE: TOM STEVENS

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

OUR FRIEND JIM // COVER

fluid. They all became my life – they all became Jim. I would use my Evans Hunt email for Village stuff, and vice versa. I remember being very nervous about that at first but now I do it all the time. Now who I am is not necessarily any of the companies, I’m just Jim.” Since opening in January 2011 – the first new brewery in the province in 15 years – Village has evolved as a key part of the city’s brewing industry. Button humbly acknowledges the success. “We got lucky. Being first meant a lot; the market was starving for it. And because we knew everybody in the industry from our past, the fact that the beer tasted good was a bonus to them, because everybody was excited to have the new beer and to be able to support their friends.”

Village’s purpose was also very well received. “We didn’t want it to be just about beer,” Button explains. “We all knew that beer has a currency and is a social lubricant, and that we could use beer to do good. That was the consistent desire amongst partners and beer barons.” To this end, the partners committed to giving away 10 per cent of their bottom line every year. “It’s always been really easy to make decisions about giving, because we had a mandate of 10 per cent,” he explains. “When you look at any company, 10 per cent is a pretty big number. But because it was set from the beginning it never seemed huge.”

While Village was busy growing, so too was Evans Hunt.

“We’re at 90 employees now,” Button says proudly. “We started with four and no office. We punch way above our belt.”

With apparent time to spare, Button partnered with James Boettcher of YYCFoodTrucks and Baran Faber of BassBus to create Circle four years ago – his answer to the inability of the Village beer truck to freely sell beer throughout the city the same way other food trucks operate. The real purpose, however, is to show Calgarians that there is so much to do in the city. “People that have lived here a long time or in the suburbs feel it’s a boring town,” he says, “and I know that the actual city has changed from what people still see it as 50 years ago – when one in 350 people was a visible minority, whereas today it’s one in four, soon to be two in five. I am trying to get people to realize our city has actually changed.” Last year’s event, held at Currie Park,

drew over 7,000 people and featured three stages with 22 artists, three Village bars, 13 food trucks, a kids’ stage, circus performers and much more.

Two years ago he also co-created Best of Calgary. “It came about when we had our latest oil price challenge, and everybody was talking in negative terms about Calgary,” he explains. “But a group of us were saying no – most of the companies I know and work with are doing exceptionally well. So why are we not celebrating all the great?”

Best of Calgary holds an annual survey and then creates video and other digital content based on the survey results.

It also holds a conference, interactive labs and a party to celebrate all of the “best” businesses and provide a forum to discuss things that could make the city better.

The hard part these days, Button admits, is spending more time on himself than on others. “I’ve always been outward and I have a hard time accepting – I’m way better at giving.

But I think I need to get into an accepting time, and focus inwards a bit. I’m starting to evaluate at what level I need to be engaged with [work and other activities], as opposed to at what level I need to be engaged with Jim and the Button family.”

His wife, Tracey – the first person he met when he moved to Calgary – is his partner, mentor and is providing him with his strength during this most recent journey. His son, Jack, is at the University of Western Ontario taking computer science and his daughter, Amanda, is in Grade 11. “Other than being told I won’t see my kids grow up, I’d be totally cool with it,” he reflects. “I’ve lived more in my life than most deserve to live. I’ve lived an absolutely full, explorative, good life. I could tell you all sorts of trouble I’ve gotten into, and all sorts of adventures – my life is full in so many ways.”

His hopes for a legacy? “My kids for sure,” he says, “but also that Jim made friends. And he made friends for friends.

I want my kids – they’ve watched Tracey and I be a good partnership for 20 years – to know that if you treat people nicely and do good it comes washing back in waves, way more than you ever gave out. It’s amazing what comes back, especially when shit goes sideways.”

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

39

Millennials Matter!

G

eneration gapping has been a fact of social and business life for generations.

Baby boomers came of age as the world’s largest, most affluent and spoiled generation.

Gen-Xers made their mark in the shadow of their nostalgiacelebrating boomer parents.

Now it’s millennials – born between 1982 and 2004. And although millennials are the currently hot generation for marketing and recruitment, forecasting suggests that millennials are half as likely to own a home as young adults in 1975 and, based on trending and projections, most millennials will not be able to retire until at least 75.

“Millennials are a powerful group that the new-age employer needs to be aware of and cater their model around,” suggests Andrew Obrecht, owner of YYC Cycle Spin Studio and an EO Calgary member. “Millennials are actually keeping our companies accountable for the values they stand for. They are a new generation of powerful and versatile influencers, driven by purpose.”

According to Dr. Jeffrey Ma, owner of Calgary-based Friends & Family Dental Health and an EO Calgary member, “The millennial outlook may be a correction from previous cultures of extreme dedication to work and putting in time. While there is certainly value in both approaches, swinging too far one way and another leads to problems.

“When people say millennials crave instant results, I interpret that as wanting quick praise for a job well done. When talking about work-life balance, it means time to recharge and renew.”

Mike Kallal is an EO Calgary member and CEO of Calgarybased Mustang Well Services – a privately-owned company operating 12 new free-standing service rigs in Alberta, British Columbia and Saskatchewan. He embraces change and explains that millennials are a factor when it comes to staff and customer base.

“Our staff is the key and mentoring is a huge part of our on-boarding process,” Kallal explains. “We find that running a service company is more like running a professional sports team. It is more about managing individuals’ expectations and understanding what their vision is for their future and developing a plan to get them there. In many cases, financial reward is trumped by time off or recognition of a job well done. We constantly look for ways to keep employee engagement.

“Our customers are an ever-changing undertaking. Today’s customer is very plugged-in. Much of our work is lined up through text messaging.”

“Overall company values, over demographics, is how successful companies will be able to adapt to this new set of employment drivers,” Obrecht adds. “Appealing to a set of values will also allow companies to capture the attention and effort of millennials while continuing to provide a platform for all demographics of employees to thrive.”

Dr. Ma underscores shared values in generations. “We all desire the things millennials strive for: work-life balance, measurable rewards and engagement. However, just like the rest of us, millennials can benefit from learning to value working toward long-term goals and understanding that sometimes putting more into work reaps the rewards of a better life as well.”

Contributing Members:

Upcoming Events: Feb. 7 • Leadership Breakfast Series Feb. 13 • Accelerator Training “People Day” Feb. 21 • Business Improvement Workshop

Mike Kallal

Dr. Jeffrey Ma

Andrew Obrecht

CEO of Calgary-based Mustang Well Services

owner of Friends & Family Dental Health

owner of YYC Cycle Spin Studio

The international Entrepreneurs’ Organization (EO) is the respected, world-wide business networking group — with more than 10,000 members in 35 countries — where business leaders meet informally to brainstorm, compare notes, learn and share relevant discussions about business.

EO has 122 chapters around the world, including the Calgary chapter which is the fifth largest and one of the most active EO chapters in the world.

www.eocalgary.com

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For membership inquiries: membership@eocalgary.com

SAM S TEAM SELLS ’

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BEARSPAWRIDGE PINNACLE | $4,900,000 | $8,500,000

209

PI N N AC LE R I DG E PL AC E

Crafted by exceptional artisans & boasting only the finest of imported & local materials this 14,000 SF Tuscan villa inspired home is less than 10 years old & yet it almost instantly transports you to Europe with an incredible sense of old world tradition & authenticity.

With a 1,000 SF gym, 1500 SF professional style theatre, gourmet kitchen, elevator, 7 bedrooms, pool house, sport court, 5 car garage, opulent main floor master wing & south facing courtyard this home is ideal for a large family or as an executive retreat. It has been featured in the National Post, Best Home Alberta, was one of the sets used in the award winning Fargo minseries & most recently was leased to Leonardo DiCaprio during the filming of The Revenant. Ideal location on 2 acres overlooking the beautiful Rocky Mountains yet just a few minutes away from shopping & services, 10 minutes away from the Springbank airport & some of Calgary’s very best private schools, 20 minutes from downtown core and a mere 40 minutes away from Banff.

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BEARSPAW | $4,750,000 $4,900,000

103

WOODL AN D L AN E

9341 SF, on the pond! This incredible home sits on 2 exquisitely manicured acres with stream, pond & dream treehouse! Thoughtfully designed, beautifully crafted bungalow w/ loft, walkout, elevator, o/s 4 car garage (w/ workshop, storage & sport storage rooms) & 5-star hotel inspired pool room with hot tub, wet bar, gym & wall of sliding doors opening wide to a private patio with pond views. Perfect for family living & entertaining it boasts sophisticated, programmable lights, sound, security, blinds, water feature, pool features, sprinklers, heating & cooling. Impressive in every way with stunning curb appeal, chef ’s kitchen (Butler’s pantry, induction cooktop w/ pot filler, espresso maker, Wolf, Sub-Zero, Miele), elegant master wing (sitting rm, bar, walk-in, laundry & steam shower), den, homework room & ensuite guest rm on main. Walkout w/ family/games rm, wet bar, recycle/pet wash rm, laundry, 4 bdrms & mudrm. Secure pool room w/huge mosaic tiled pool (hard cover, water & fibre optic light features).

MY EXPERIENcE IS YOUR ADVANtAGE

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BEARSPAW | $2,500,000 BRITANNIA $4,900,000

807

F O RT Y- S E V E N T H AV E N U E S W

Contemporary 2014 build, steps from boutique shops, grocery & Starbucks in highly coveted Britannia with 4 ensuite bedrooms & a 4 car garage, on a generous 74’ wide lot with sunny south backyard! Hints of West Coast design meet modern elegance in this light & open residence with developed basement & over 5630SF of living space. Spoil yourself with high-end appliances (induction range, multiple dishwashers, glass front wine fridge), heated floors, custom window coverings, a sculptural staircase of steel, wood & glass, extensive built-ins (large mudroom, several walk-in closets), clean lines, quartz counters, stone backsplash, glass railings, chic lighting, home automation system, in-floor heating & central air conditioning. Entertaining oriented main level with large dining room, open kitchen, glass wall den. 4 bedrooms, 4 ensuite bathrooms, bonus rm & laundry rm upstairs. Basement developed with media/ games room & 5th bedroom + bathroom.Minutes from downtown & walking distance to river valley pathways.

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BEARSPAW UPPER MOUNT | $4,900,000 ROYAL | $2,350,000

2106

SEVENTH STREET SW

Renovated character home in Calgary’s highly coveted neighbourhood of Mount Royal! Professionally decorated & beautifully updated this elegant home is move-in ready, sits on a 160’ lot & boasts a walkout basement, city views, in-floor heat & new Bosch boiler system, updated electrical, professional-style Wolf, Miele & Sub-Zero appliances, built-in speakers, spectacular vaulted & beamed ceilings, panelled walls, original millwork, designer wallpapers, draperies & chic lighting, granite counters, a huge mudroom, 3+1 bedrooms, 4 updated bathrooms, classic white kitchen and a truly gorgeous backyard! Relax on the front veranda or on the 2-tiered deck in the backyard, wake up to city views, a spa-like ensuite & large walk-in (w/ organizers) in your master suite, entertain in the formal living & dining Rms, spend family time in the walkout level media Rm & enjoy being able to walk to some of the city’s best schools, shops & restaurants. This is inner city living at its best!

MY EXPERIENcE IS YOUR ADVANtAGE

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BEARSPAW WEST SPRINGS | $4,900,000 | $1,795,000

73

W E S T PA R K CO U RT S W

Contemporary home w/4 car garage, huge yard, home theatre, pro-style gym, wet bar, kid’s craft room & multiple ensuite bathrooms! This very special home sits on an 80’ wide lot, backing tennis court & offers a total of 4722 SF of luxurious living space with 3 ensuite bdrms up & 2 more bdrms down. The kitchen is a chef ’s dream w/ Viking appliances (incl 48” gas stove w/ 2 ovens, pot filler & pro-hoodfan) it opens to a vaulted living room w/full-height stone fireplace & dining room w/ butler’s pantry (w/ Fisher & Paykel dishwasher drawers). A den, guest bath, craft rm & mudrm complete the main. There is a bonus room, laundry & 3 ensuite bedroom upstairs. The master has a fashion lover’s walk-in & spa ensuite w/ stone accent wall & steam shower w/ body sprays. Basement has 2 bedrooms, media Rm, wet bar (Sub-Zero wine fridge) & big gym. 4 car garage w/ drive-thru to bkyd, in-floor heat & built-ins. Control-4 Home Automation system, built-ins, speakers, A/C, blinds on remote control, deck w/ heater & speakers.

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BEARSPAW | $1,595,000 HILLHURST $4,900,000 - $1,695,000

NEST

4 2 6 , 4 2 8 O R 4 3 0 11 T H S T R E E T N W

Three units to choose from, offering luxury in the heart of Kensington! this incredible, architecturally designed new executive tri-plex features outstanding, highend fixtures & fittings, spectacular interior design (by Monica Stevens Interior Design) and a location second to none, perfect for those who appreciate walkability/ pedestrian friendly living it is set on a quiet, tree-lined street just steps away from trendy shops & restaurants, Riley Park, c-train & Bow River. Walk/bike to nearby SAIT, Jubilee auditorium for a concert, ballet or opera or to downtown from this inner city retreat with bedrooms (2 master suites) & 4 bathrooms, rooftop deck, city views & developed basement. Showcasing exceptional finishes thru-out if offers: Wolf & SubZero appliances, Empire kitchen & bath millwork, Ann Sacks designer backsplash, Caesarstone counters, site-finished white oak hardwood, European plumbing fixtures, 10� baseboards, 9 & 10’ ceilings, Legrand electrical outlets, ICF party-walls & foundation, heated garage & basement floor.

MY EXPERIENcE IS YOUR ADVANtAGE

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BEARSPAW | $4,900,000

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WILDWOOD | $1,450,000

455

WI LDWOOD DRIVE S W

Backs Edworthy Park! Here is your chance to live on the most coveted culde-sac of idyllic Wildwood. Located deep in the heart of the community, at the quiet tip of Wildwood Drive, this fully renovated bungalow provides direct access to the park from the back gate. Mature landscaping, western exposure, a hot tub, a huge deck and patio are highlights of the secluded backyard. A complete overhaul in 2014 modernized the entire floor plan and finishes inside and out including new windows. The impressively sized kitchen features granite counters, hardwood and a backsplash of glass and marble. The master suite includes a walk in closet and ensuite with soaker tub; rare finds in houses in this district. Downstairs is a fully developed recreation room with a stone faced fireplace separating a flex space perfect for a workout area or office.Enthusiasts of 1950s homes will adore the charming neighbourhood and thoughtful updates. Live moments from the downtown core while enjoying Edworthy Park at your doorstep.

LAKE BONAVISTA | $1,325,000

447

L A K E PL AC I D G R E E N S E

Highly coveted loc’n, 2nd lake access in desirable Lake Bonaventure Estates w/ beautiful english garden & an extensively reno’d 2135 SF bungalow! Quiet cul-de-sac mere steps from exclusive Lk Bonaventure for swimming, boating & skating. Boasts an expanded master suite, updated main bathroom, huge walk-in & new kitchen w/ classic cream cabinetry, center island, granite counters, glass tile backsplash & stainless steel appliances incl. high-end, super-fast & efficient induction cooktop. Features updated hardwood, lighting, panelled walls, cove mouldings, custom window coverings & 2 fireplaces. The family Rm w/ gas fireplace overlooks the backyard while the living Rm has a wall-mounted fireplace. The dining Rm is open to the kitchen & living for easy entertaining. There are 2 bedrms + den on the main. The expanded master has sitting area, huge walk-in & 5-piece ensuite.

Downstairs offers 3rd bedrm w/cheater ensuite access), 2 guest Rms, 2nd den, full bathrm(w/ oversized shower), family/games Rm & wet bar.

MY EXPERIENcE IS YOUR ADVANtAGE

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WORTH ®

YOUR HOME

FOR ALL IT’S

PRIDDIS GREENS | $1,295,000

108

H AW K S L A N D I N G D R I V E

Breathing room for the soul! Your private hideaway from the hustle & bustle of the city this architecturally designed walkout bungalow is tucked into the trees & boasts a spectacular backyard oasis ($250,000+ spent in landscaping) & peekaboo views of Priddis golf course & the mountains. Leafy views from huge windows (in most rooms) give a treehouse-like atmosphere while a 4-season ‘screened in porch’ makes you almost feel like you’re at the cottage.

But this estate is anything but rustic; it features a chef ’s kitchen (high-end stainless steel appl), big dining Rm, grand living Rm (25’ ceiling) & master suite w/ fireplace, sitting area, dressing room & jet tub ensuite. A 2-pc bath & mudroom w/ access to the oversized triple garage complete the main.

Upstairs is a loft/sitting room & a 2nd ensuite bedroom. Walkout (in-floor heating) offers 3 bedrooms, 3-pc bath, family/games Rms (wood-burning f/p) & access to the gorgeous, low maintenance yard w/ babbling brook, firepit, stone patios, pergolas & a dog run.

ASPEN WOODS | $1,095,000

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ASPEN SUMMIT

C IRC LE S W

Rare bungalow in Aspen Woods! Step inside and be welcomed by an open concept living space, soaring ceilings, dramatic stone-faced gas fireplace and contemporary crystal chandeliers. A timelessly designed, crisp kitchen features granite countertops, Dacor induction cooktop and stainless steel Bosch wall oven and dishwasher. The walk thru pantry offers easy access to the laundry, mudroom and garage. A tucked away office provides a quiet place for work or homework. The private master suite on the opposite side features a large walk in closet and elegant bathroom with heated floors and soaker tub. Downstairs, there’s lots more living space for entertaining and hanging out. Three additional bedrooms with large windows flank a Jack & Jill bathroom with double sinks. Be dazzled by this rare find with sparkling finishes and an easy-to-live-in layout built with attention to detail by Albi Homes. This is an ideal home for a family with older children or empty nesters in looking to buy in a new upscale district. c

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MISSION | $995,000

#M06

318 T W E N T Y- S I X T H AV E N U E S W

Huge terrace + completely renovated suite! An amazing find, this positively stunning, fully renovated 1771 SF home comes with as much outdoor living area & inside and boasts your own (exclusive use) 1889 SF terrace. The interior was taken down to the studs, thoughtfully designed and completely rebuilt. It features porcelain tile & hardwood flooring (silver toned oak), custom cabinets, Caesarstone countertops, Swarovski crystal lights & cabinet pulls, custom order bathroom fixtures & a chef ’s kitchen with imported cabinetry & high-end appliance package. The laundry is fitted with a steam washer/dryer. The spa-like ensuite (with free-standing tub, multi-head shower, designer fixtures, towel warmer) is your private retreat at the end of a long day. There are 2 bedrooms (one with murphy bed doubles as a den), sunroom, 2 bathrooms, 2 underground parking spots, large living & dining rooms. The building, across from the river & steps from trendy 4th Street shops/restaurants, is one of Calgary’s most exclusive!

DISCOVERY RIDGE | $825,000

242

D I S CO V E R Y R I D G E B AY S W

Light & bright, with developed walkout, west backyard & 3100+ SF of living space! This home shows 10/10 and has 3 bedrooms, den & walkout developed with a nanny in mind (4th bdrm & kitchen/wet bar). There’s nothing to do but move in & enjoy: Neutral paint, white millwork, marble accents, granite counters & hardwood (main & upper). Main flr has den, formal dining rm, & great room with island kitchen, nook & family room. White kitchen w/ marble backsplash, granite counters & stainless appliances (incl. gas range & contemporary hoodfan). The breakfast nook has marble floor & opens to large deck. Family room has window seat, built-ins & gas fireplace w/ cabinet above for TV. There are 3 bdrms & vaulted bonus room w/built-in desk, entertainment unit & gas fireplace upstairs. Master has walk-in & 5-piece ensuite. Walkout dev’d w/ 4th bdrm, 3-pc bath, family room, flex space, storage (could be 5th bdrm) & kitchenette/wet bar. Beautiful west backyard w/ walled stone patio & deck w/ glass rail & stairs to grade.

CURRIE BARRACKS | $819,000

#201

2 3 B U R M A S TA R R OA D S W

Jayman Built Luxury Living! 1529SF 2 bed, 2.5, boasting quality and design with $25,000 upgrades & 10 ft ceilings. Open concept feat. gourmet kitchen w/ upscale KitchenAid S/S appliances, 5 burner gas cooktop, BI convec. oven, quartz counters, Grohe faucets, Blanco sink, stunning full ht. backsplash, bkfst bar along w/ a spacious dining area flowing into the chic living rm. w/ gas fireplace. Rich hdwd flooring throughout, luxurious porcelain tile in the bathrooms w/ upgraded Moen & Kohler faucets. The master retreat has a spacious walk-in closet, 5 pc spa-like ensuite w/ floor to ceiling tile, freestanding soaker tub, dual sinks w/ glass shower. The 2nd bdrm. comes w/ its own 3 pc ensuite. An additional 2 pc. bath, laundry rm. and den! Completing this beautiful suite is a large corner private balcony w/ gas line. 2 titled underground parking stalls, titled storage unit w/ ample visitor parking. Located in the highly desired Currie Barracks. Minutes to downtown with easy access to Crowchild and Glenmore.

MY EXPERIENcE IS YOUR ADVANtAGE

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CHRISTIE PARK | $775,000

6963

CHRISTIE BRIAR MANOR SW

Wonderful 4+1 bedroom family home on a pie lot in desirable Christie Estates with a full brick front & asphalt shingles that were replaced in 2014. It has hardwood flooring on main & upper levels, island kitchen updated with granite countertops & stainless steel appliances (including Wolf microwave, Bosch dishwasher & Dacor oven), 2 wood burning fireplaces (with log lighters), 4 + 1 bedrooms, main floor den, 4 bathrooms, formal living & formal dining rooms and fully developed basement offering a media room, games room, flex space, wet bar, bedroom & full bathroom. The living room has a bay window & vaulted ceiling and shares a 3-sided, granite faced wood-burning fireplace with the vaulted dining room. The family room, bayed breakfast nook & updated kitchen span the back of the house & overlook the yard. A 2 piece bath, laundry room & tranquil den with wainscotting & french doors complete the main. Ascend the elegant curved stairway to 4 upper bedrooms. The master has a sitting area, walk-in & jet tub ensuite.

GARRISON WOODS | $675,000

175

YPRES GREEN SW

Stylish brownstone with beautiful finishes & upgrades steps from the school, bus, shops, restaurants & services! 3 bedrooms, 3 bathroom townhome w/ open-planned main level ideal for modern family living & entertaining. A full-height gas fireplace is shared between the living & dining rms. The kitchen features a large island, peninsula, pantry & granite counters, which compliment the antiqued french cabinetry & stainless appliances including a Viking gas stove & Bosch dishwasher. Wide plank walnut hardwood flows thru the living & dining while durable slate flooring in the mudroom & kitchen is accented by a stone feature wall. The 2nd level offers 2 bedrooms, a computer/homework area, full bathrm + laundry rm! The back bedroom is so large it could be a bonus/media rm instead. The 3rd level is home to the master suite w/ sitting area, walkin & 5-pc ensuite w/ 2 sinks, soaker tub, shower, private toilet & 3-sided fireplace. The basement awaits your future plans.

There is a double garage & patio in backyard.

BELTLINE | $625,000

#630

72 0 - T H I R T E E N T H AV E N U E S W

Refined living in the exclusive enclave of “The Estate” is yours to enjoy in this expansive 2 bedroom + den suite offering 2066 SF of beautifully appointed living space featuring new hardwood flooring & commercial grade carpeting, updated lighting, flat ceilings, cove mouldings, built-ins cabinetry (in living room & in den), french doors, renovated kitchen with centre island, granite countertops & stainless steel appliances and a large master suite w/ wooden shutters, big walk-in closet (w/ built-in organizers) & updated 5-pc ensuite bathroom with luxurious, heated tile flooring. There’s ample space to entertain: Spacious living room opens to dining area & is flanked on either side by french doors opening to a private den & family room adjoining the kitchen. Ideal for those who appreciate privacy (there are only 3 suites on this flr) & elegant surroundings this grand building offers 24-hour concierge, salt-water pool, huge outdoor entertaining area, newly renovated gym & direct access to Ranchman’s Club.

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CHINOOK PARK | $580,000

1035

S E V E N T Y- F I F T H AV E N U E S W

Inner city bungalow, 1302 SF + 822 SF for 2100+ SF of total living space w/3+1 bedrooms & 3 full bathrms! Steps to schools, bus & shopping, Rockyview Hospital, Heritage Pk, Glenmore Pk & the reservoir & a quick commute to DT. Move-in ready with many upgrades in recent years including: Windows, blinds, lights, bathrms, vacuum system, refinished hardwood & tile, brand new basement carpeting, tile & fresh paint but the highlight is the newer kitchen with white cabinets, quartz counters, tile backsplash, eating bar & updated stainless steel appliances. Dining Rm w/ glass doors opens to a big deck and sunny south backyard. Refinished hardwood flows into 3 bedrooms on the main. Master bedroom w/ 3-piece ensuite & big windows with between the glass blinds. 2 other bedrooms share a newer 4-piece bath. Basement w/ bedroom, 3-pc bath & Rec/Family Rm w/ free-standing gas fireplace with thermostatic control. Keyless entry backdoor & storm door offers access south backyard & heated/insulated oversized double garage.

EDGEMONT | $449,000

60

EDENWOLD GREEN NW

Welcome to easy living villa lifestyle, on top of the hill in Edgemont. This turnkey property is fantastic for the lock it and leave it lifestyle. The unit has south exposures & plenty of natural light that provides a wonderful open feeling. This 55+ villa has a large living and dining area, accompanied by a gas fireplace. The master boasts a full master ensuite & plenty of closet space. The second bedroom is bright and has a full bathroom close by. You can live on just the main floor if necessary, as the laundry facilities are also located on the main floor! The kitchen has been tastefully updated with new backsplash, new granite counters & newer appliances. The south deck comes with a gas BBQ! The lower level here is a walkout basement with large living space, a third bedroom, full bath & masses of storage space. Newer furnace and hot water tank, as well as the central air conditioning! If you are looking to host a big party, the clubhouse is right across the street. Everything you need is right here!

ARBOUR LAKE | $385,000

#2216

303 ARBOUR CREST DRIVE NW

Much sought after corner unit with 2 Bedrooms, 2 Bathrooms, 2 balconies and great mountain views! Filled with natural light it boasts windows and patio doors on 2 sides enabling good air flow and bright living areas. The living room has a gas fireplace and the dining area (with access to the south facing balcony) is perfect for hosting family gatherings or holiday meals. The open planned kitchen offers ample prep & storage space (including a walk-in pantry), an eating bar and 2 windows so that you can gaze out and enjoy the mountain & surrounding neighborhood views. The master bedroom has a walk-in closet, 4-piece ensuite & access to a west facing balcony. The 2nd bedroom is adjacent to the main bathroom.

There’s an in-suite laundry/storage Rm & additional storage in an 8.5’ x 7’ storage cage in front of the titled parking stall in the parkade. Building is 18+ age restricted, has a party room, gym, sauna, lovely grounds with gazebo & fountain & car wash in parkade.zxzxcxzcxzcxzcxczxzxzcx

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BUSINESS PLUS // EDUCATION MBA

Business Plus

HASKAYNE’S JD/MBA PROGRAM PRODUCES UNIQUE GRADUATES

BY CAT NANTEL

O

wen Clarke is a senior tax analyst at Deloitte Canada. He recently completed a juris doctor and a master of business administration at the University of Calgary. He obtained both his law and business master degrees simultaneously as part of the Haskayne School of Business’ joint JD/MBA program, and is now articling – a mandatory training year required after students complete a law degree in Canada.

“I wasn’t interested in going the traditional route,” says Clarke. “I wanted to use my knowledge of the law to facilitate business. That’s what led me to complete a joint JD and MBA. The combined skill set from this program was instrumental to securing my articling position.”

While Clarke was learning about foundational legal principles, he was also learning how to interpret financial statements and becoming familiar with economic modelling.

The end result? A commercially-astute lawyer who can quickly get up to speed on client issues and problems while applying the law through a business-savvy lens.

“I interact with business owners on a daily basis,” explains Clarke. “If I only understand the law and don’t have a strong understanding of their business, I’m not as useful as a lawyer.”

The Haskayne School of Business’ JD/MBA, the university’s most popular joint MBA program, was launched in response to industry needs for legal graduates who could understand the workings of a business and offer practical applications of the law.

The program is one of six combined MBA degrees offered by the Haskayne School of Business. It also offers combined degrees with the Cumming School of Medicine, the faculty of social work, the faculty of

ABOVE: HASKAYNE MBA STUDENTS PHOTO SOURCE: EWAN PHOTO VIDEO

BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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BUSINESS PLUS // EDUCATION MBA

environmental design and the School of Public Policy. The MPP/MBA (master of public administration), launched in 2014, is the only one of its kind in Canada.

“These joint master’s degrees produce graduates who are able to deal with more complex issues,” says Michael Wright, associate dean, graduate programs, Haskayne School of Business. “They have a working knowledge of a particular discipline along with managerial skills and business acumen.”

“THESE JOINT MASTER’S DEGREES PRODUCE GRADUATES WHO ARE ABLE TO DEAL WITH MORE COMPLEX ISSUES. THEY HAVE A WORKING KNOWLEDGE OF A PARTICULAR DISCIPLINE ALONG WITH MANAGERIAL SKILLS AND BUSINESS ACUMEN.” ~ MICHAEL WRIGHT

In Canada and the U.S., joint MBA programs are on the rise. The growth can, in part, be tied to the meteoric rise in popularity of the MBA degree which made its first appearance in 1900 at the Tuck School of Business at Dartmouth. The first Canadian MBA program appeared at the University of Western Ontario in 1948. By the late 1970s, every major provincial urban centre in Canada had at least one institution with an MBA degree offering. Today, more than 40 Canadian universities and hundreds of schools in the U.S. offer MBA degrees.

According to the National Center for Education Statistics, of the 759,000 master degrees conferred in 2014-15 by post-secondary institutions in the United States,184,000 (24 per cent) were in the field of business. More MBAs were conferred than any other field of study.

The MBA is argued to be the most successful educational product of the past 50 to 100 years.

The degree has been and continues to be popular at the Haskayne School of Business. In 2014, 485 students, nine per cent of all graduate students, were enrolled in the program.

ABOVE: MICHAEL WRIGHT, ASSOCIATE DEAN, GRADUATE PROGRAMS, HASKAYNE SCHOOL OF BUSINESS.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

Autocorrect fail…or great job offer?

You might be surprised.

Mike’s post-diploma certificate from Bow Valley College helped him land the job he wanted. We can’t stop you from sending embarrassing texts, but we can prepare you for many happy surprises on your career path. With over 40 career programs to choose from, there’s a future for you at Bow Valley College.

Enhance your credentials with a post-diploma certificate.

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Creative Technology | Business | Community | Health

BUSINESS PLUS // EDUCATION MBA

In recent years, Haskayne has introduced joint MBA programs and innovative centres and partnerships that attract students by providing cutting-edge learning opportunities.

HASKAYNE MBA STUDENTS ARE ELIGIBLE FOR THE CREATIVE DESTRUCTION LAB-ROCKIES PROGRAM. IF THEY ARE ACCEPTED INTO THE PROGRAM, THEY ARE PAIRED WITH ONE OF THE VENTURES IN THE PROGRAM AND ARE REQUIRED TO COMPLETE TWO COURSES DURING WHICH THEY LEARN ABOUT THE EARLY-STAGE FINANCE PROCESS. STUDENTS ALSO HELP THEIR VENTURE COMPLETE A SERIES OF ASSIGNMENTS DESIGNED TO HELP THE FIRM ACCELERATE ITS DEVELOPMENT.

Launched in 2013, the Hunter Centre for Entrepreneurship offers academic research programs focused on entrepreneurship and innovation. As of September 2017, the school is also partnering with Creative Destruction Lab (CDL), a program that helps projects transition from pre-seed to seedstage funding. CDL is available across five national locations, with each location offering unique streams and resources to support early-stage ventures in scaling.

Haskayne MBA students are eligible for the Creative Destruction Lab-Rockies program. If they are accepted into the program, they are paired with one of the ventures in the program and are required to complete two courses during which they learn about the early-stage finance process. Students also help their venture complete a series of assignments designed to help the firm accelerate its development.

This partnership was especially attractive to Kurtis Vallee, a first-year JD/MBA student.

“My objective is to become a lawyer,” says Vallee. “More specifically, I want to provide legal and business advice to small business owners and professionals. The CDL was an important factor in my decision to pursue a JD/MBA with the Haskayne School of Business.”

Vallee is also eager to volunteer at the Legal Centre for Business & Technology, based at the University of Calgary’s faculty of law. The centre offers a legal clinic where students have the opportunity to work with new

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

For more information on our MBA: 1-800-561-4650 business.athabascau.ca/mba

“The MBA has helped me realize a more holistic view of the business by learning facets of every department from HR, to marketing, to finance, to operations. To be able to bring it all together adds tremendous value to any organization.”

Len Hoang, MBA ’17 Operations Manager Nando’s Canada

BUSINESS PLUS // EDUCATION MBA

businesses in the early stages of development, tech creators interested in commercializing and entrepreneurs with creative venture ideas.

By enrolling in a joint MBA program, Vallee can expect to complete both degrees six months sooner than pursuing them independently.

“One of the benefits of a joint degree is that students can complete two degrees in less time than it would take them to complete the two degrees separately and at a lower cost,” says Wright.

“I OPTED TO DO A JD/ MBA BECAUSE I FELT THAT COMPLETING BOTH PROGRAMS CONCURRENTLY WOULD GIVE ME THE EDUCATION AND EXPERIENCE I WOULD NEED TO REACH MY PROFESSIONAL GOALS.” ~ KURTIS VALLEE

When asked to reflect on the ideal candidate for the joint MBA programs, Wright mentions, “There is no typical profile however we find that most students who enroll in the joint programs have a vision of what they want to do with their career including an understanding of how management practices will further their career.”

Vallee is one of these individuals. He knows where he wants to go with his career.

“I opted to do a JD/MBA because I felt that completing both programs concurrently would give me the education and experience I would need to reach my professional goals,” explains Vallee.

Individuals like Vallee and Clarke are a very small minority on campus. In 2014, only eight students completed joint MBA degrees, four of which obtained a JD/MBA. It’s safe to say that Vallee and Clarke stand out amongst their peers.

ABOVE: KURTIS VALLEE, A FIRST YEAR JD/MBA STUDENT AT HASKAYNE.

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CORPORATE EVENTS // EVENT PLANNING & CATERING

CORPORATE EVE ALL THE LITTLE THINGS TO REMEMBER

BY LORENA MCDONALD

W

hether planning a corporate event, trade show or any other kind of business function, there are basic tools and strategies that are helpful for making the occasion a success. Yet, remembering the little things is ultimately the most important aspect in making the experience momentous.

There are many marketing and planning organizations available in Calgary that offer expert advice and services for arranging corporate receptions. The key is finding one that can help with the sophisticated and simplistic details of the planning process.

According to Adam Joyce, vice president of acceleration at the Calgary Telus Convention Centre, “The three most common problems that arise when planning an event are underestimating budget, underestimating time needed to plan an event and overestimating attendance.”

Avoiding such difficulties can be easier said than done.

But, understanding the various aspects related to any event planning process is central for creating a successful experience. Many corporate functions fail when there is misunderstanding of a client’s basic requirements or poor choice in venue and food.

ABOVE: CALGARY TELUS CONVENTION CENTRE. PHOTO SOURCE: ADAM JOYCE

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CORPORATE EVENTS // EVENT PLANNING & CATERING

“In the planning stages, remember the three common problems and plan around them.

Give yourself more time and budget to make sure you are focused on the delegate experience,” says Joyce.

Although there are wide-ranging things to think about, the most valuable factor is being multifaceted and attentive during the developmental stages of the event’s scheduling and catering.

“Stay focused on the delegate experience and understanding of their needs: why are they meeting and what is the goal of the experience?” explains Joyce.

The central focus is to create a corporate experience that meets the client’s requirements. Careful attention to detail is necessary in making an event run smoothly and flawlessly.

At times, the smallest things can make the difference while also paying close attention to other components in the event planning process. Many corporate events are becoming more luxurious and creative in Calgary as people expect a certain professional quality and standard.

NTS According to Joyce, there are many levels of involvement from sales managers, event managers, event services, marketing, communications, maintenance, engineering, housekeeping, audio visual, show services, loading docks, guest services, finance, IT and security services. All of these multilayered stages in event planning are necessary for creating a perfect occasion.

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CORPORATE EVENTS // EVENT PLANNING & CATERING

“If done right, details will be covered by a meeting planner or event manager to ensure the delegate experience is at the forefront when planning the event,” adds Joyce.

In the end, the main goal is to make guests feel special and important. Arranging name tags, seating charts, maître d’ services, guest speakers, music, lighting, food, beverages and transportation are only a small handful of important items to remember.

“Make sure the event partner you are looking at aligns with the standards of the corporation as well. Back-end operations, financials, health and safety procedures, and protocol are just as important as a well-designed event,” explains Keri Miller, partner and chief creative strategist at e=mc² events.

As the event planning company of the Juno Gala Dinner and Awards since 2012, e=mc² events knows a few things about the ins and outs of event development. Their expertise has provided world-class live event and conference services to a variety of corporate, non-profit and social organizations such as the Toronto International Film Festival and WestJet. Finding the right company can make a difference in the planning process. “Without a creative management professional, you can end up with a hodgepodge of messaging and design elements with an experience that does not feel cohesive and connected,” adds Miller.

ABOVE: VENUES CATERED BY AN AFFAIR TO REMEMBER CATERING. PHOTO SOURCE: STEPHEN GILLETTE

RIGHT: KERI MILLER, PARTNER AND CHIEF CREATIVE STRATEGIST AT E=MC2 EVENT.

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CORPORATE EVENTS // EVENT PLANNING & CATERING

“HIRING A CREDIBLE EVENT PROFESSIONAL THAT RUNS ALONGSIDE YOU FROM INCEPTION TO FINALE IS VERY IMPORTANT AND WILL SAVE YOU TIME AND MONEY IN THE END BECAUSE NOT EVERY FIRM OR INDIVIDUAL IS GOING TO BE THE RIGHT FIT FOR YOUR CORPORATION.” ~ KERI MILLER

Choosing the appropriate event planner for the job is savings well spent. Most times, hiring one with a proven track record helps to avoid any problems that might occur during the process.

behind the event in the first place. Understanding the sole purpose and goal of the occasion is important in creating a successful end result.

“Hiring a credible event professional that runs alongside you from inception to finale is very important and will save you time and money in the end because not every firm or individual is going to be the right fit for your corporation,” says Miller.

Not only are there complex content marketing aspects to consider, but also specific details that can become overlooked without professional help.

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Events are the same thing,” describes Miller.

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CORPORATE EVENTS // EVENT PLANNING & CATERING

“Allergies and health restrictions are a large small detail.

Of course, we want to please all our guests, so formatting a menu that has something on it for everyone is a great start,” says Stephen Gillette, general manager of An Affair to Remember Catering.

Event organizers should also consider religious requirements if this is something a client requests. In addition, hiring a food stylist is a great way to ensure plates are well presented, and that the decor reflects the appropriate theme of the venue.

Handling all the intricacies in event planning can be time consuming, but also rewarding if done correctly. Most professional event planners and caterers lessen the worries with their expert advice and specialized support.

A good event planner will map out all the steps in the event planning process with a timetable for each task to be completed. Usually, they will provide valuable guidance while having a contingency plan and a checklist to help keep things on track.

“There are a lot of little factors that people could overlook, but of course every event is different,” says Gillette.

“Bring in an event partner early on in the process and ensure they are asking ‘why?’ you are planning an event and what your end result should be (so) there is purpose to the investment,” says Miller.

Aside from the venue itself, selecting the right catering service is imperative since good food will always leave a lasting impression on guests. Another matter is to confirm the catering company can adhere to dietary requirements when needed.

Social and corporate events vary upon a venue’s location, size, attendance and budget. So, what might work for one event may not necessarily work for another. The important thing is paying close attention to the smallest details to ensure an unforgettable experience. Ultimately, the goal is to create an event that grabs the audience’s attention while connecting individuals with a unifying concept and purpose.

“We are people creating experiences for people and each … agency is unique. Find the one you align with, not just on paper, and make sure you pay them what they are worth,” explains Miller.

In the end, choosing the right event planning company can provide insight and support while both saving time and worry.

ABOVE: EVENTS CATERED BY AN AFFAIR TO REMEMBER CATERING. PHOTO SOURCE: STEPHEN GILLETTE

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ANALYTICS VERSUS GUT FEEL // INVESTING

VS

ANALYTICS GUT FEEL THE GREATER FOOL THEORY AND BEYOND

BY JOHN HARDY

O

bjectively exploring bubble investing is a hopeless challenge.

Economists, analysts and investment professionals are skeptical, wary, leery or worse.

Private and amateur investors and day traders are convinced, determined and usually driven by hunches, wild word of mouth and gut feels.

And then there are the facts.

“An investment bubble is a situation where a security price is increasing without any fundamental value basis to support it,” explains Gordon Sick, professor of finance at Calgary’s Haskayne School of Business. “When an investor buys an asset in a bubble, the investor rationally has little or no expectation of value to be generated by the asset itself.

“Instead, the value is obtained by selling to a subsequent investor (who is waiting to buy the asset) or suffer a loss when the market realizes there is no fundamental value. A rational and smart investor should be alarmed if it is not possible to see fundamental value in the asset.”

He explains the wishful-thinking determination of bubble investors as often bordering on a passion. “The bubble investor sees the price of a security rising, usually sharply, and assumes that it will continue rising. The appropriate caution is the same as the conventional advice attached to mutual fund statements: past performance is not an indicator of future performance.”

Despite the gung-ho excitement of super-motivated bubble investors and the wisdom-of-experience caution of investment sector professionals, the ebb and flow of bubble investment trends is complex and invariably subjective.

“Market bubbles tend to happen when we are faced with something that has the potential to transform the way we live or do everyday things,” explains Calgary-based Blaine Lennox, partner and portfolio manager of private and institutional clients with Jarislowsky Fraser, the solid and renowned global investment management firm. “Good examples are the technology that caused the 1990s dot-com bubble or the significantly reduced interest rates that led to the explosive U.S. housing market in the early 2000s.

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ANALYTICS VERSUS GUT FEEL // INVESTING

“LOSS OF SIGNIFICANT WEALTH, LOW CONSUMER AND BUSINESS CONFIDENCE AND PERIODS OF RECESSIONS HAVE ALL FOLLOWED BUBBLE BURSTS. HISTORICALLY, DEBT-FUELLED ASSET BUBBLES THAT BURST HAVE A MUCH MORE SEVERE ECONOMIC IMPACT, SUCH AS REAL ESTATE.” ~ BLAINE LENNOX

“No doubt about it,” he adds. “Asset bubbles have led to some positive outcomes, such as advanced technologies, fibre-optic infrastructure, housing developments and the emergence of many leading companies and entrepreneurs that were able to leverage the new paradigms.”

Lennox underscores the surprising fact of investment sector life: despite some cynicism and skepticism, professionals do take bubble investing seriously, because bubbles in a particular sector or industry can impact asset prices in the broader capital markets.

He mentions various asset price bubbles over the past 20 years, many of which have had a negative effect on the economy and financial markets, including technology and telecom stocks (1999-2000), U.S. housing (2005-06), commodity prices (2007-08) and gold prices in 2011.

“The aftermath of many bubbles have been detrimental to the economy.

“Loss of significant wealth, low consumer and business confidence and periods of recessions have all followed bubble bursts. Historically, debt-fuelled asset bubbles that burst have a much more severe economic impact, such as real estate.”

Whether in front of his Haskayne class or from years of financial sector expertise, Gordon Sick is almost amused with the example that gold can be considered a bubble asset.

“Miners produce far more gold than what is needed for industrial and jewelry use. Bars are cast and must be stored.

There are questions as to whether repositories like Fort Knox actually do hold all the gold to which there are claims, since they may have lent the gold to governments and banks. After all, there is no credible audit performed on gold holdings.

“We have had real estate bubbles where land or buildings on land were selling for far more than the fundamental rental value they provided. In many markets, such as Vancouver and Toronto, these assets are actually not occupied, so they are being held only for speculative purposes.

“Around the turn of the millennium, we had the dot-com Internet bubble. Investors were willing to buy Internet stocks simply because they had “.com” in the name and before any disclosure about the proposed use of the investment funds.

Of course, this bubble burst and it took many years for the Nasdaq (the market where most dot-com companies were listed) index to rise to its highest bubble level.”

Most (hard-to-find) unbiased explanations explain bubble investing as an asset bubble – also called a speculative bubble, a market bubble, a price bubble, a financial bubble, a speculative mania, or a balloon – that is traded at a price or price range that strongly exceeds the asset’s intrinsic value. It is also described as a situation in which asset prices appear to be based on implausible or inconsistent views about the future.

Current bubbles include Bitcoin and investing in cannabis operations/clinics, particularly in Canada, in

ABOVE: BLAINE LENNOX, PARTNER AND PORTFOLIO MANAGER OF PRIVATE AND INSTITUTIONAL CLIENTS WITH JARISLOWSKY FRASER.

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ANALYTICS VERSUS GUT FEEL // INVESTING

“THE GREATER FOOL THEORY EXPLAINS THAT INVESTORS CONTINUE TO BUY DUBIOUS SECURITIES, EVEN WHEN THEY REALIZE THEY ARE GREATLY OVERVALUED, WITH THE BELIEF THAT THEY COULD SELL THEM TO SOMEONE WHO WOULD BE WILLING TO BUY AT AN EVEN HIGHER PRICE – THE GREATER FOOL.” ~ GORDON SICK

anticipation of the expected 2018 controlled legalization of marijuana.

Many bubble investor boosters and investment sector analysts agree that – for the moment and partially thanks to the potent messaging of social media – Bitcoin may turn out to be the biggest market bubble, surpassing dot-coms, Beanie Babies, the Dow in 1929 and the silver bubble of the late 1970s.

“Bitcoin and other digital currencies are in a bubble right now,” Sick says. “A lot of the demand is coming from Asian investors, who don’t have well-functioning and regulated security markets, like we have in North America and Europe. They are not accustomed to expecting high-quality securities to be available for investment. They also distrust their governments and central banks, so they think these digital currencies give them a store of value that bypasses government.”

Although many economists and analysts opt for neutral integrity not contentious critiques, they suggest the familiar human trait – greed – is a bubble investing factor.

“It usually involves unsophisticated investors, or, usually investors who are not as astute as they think they are,” Sick points out. “They see others making money and often paper profits and want to join in. They either don’t want to be left out or they want to make a quick buck to fund something like retirement, a trip or a luxury purchase. They often borrow to buy the bubble asset, which causes them to have financial liabilities when the asset falls in price.

“Mutual fund managers sometimes get caught in a bubble craze. They know that investors focus excessively on recent past performance [and] they don’t want to lose business to competitors so, if other funds are buying a bubble asset, they must as well, just to keep the business.

“They often know that they are in a bubble,” he shrugs, “but they can’t escape from it.”

Lennox explains that, ironically, the key attractions about bubble investing also happen to be the biggest cautions.

“Price movements become driven by sentiment, hype and ideas rather than fundamentals. This leads to attractive rapid price increases that create a fear of missing out on the part of investors who don’t own the security or asset.

What investors need to be cautious about is that these assets often have poor liquidity and as a result are prone to significant price swings, both up and down.

“The greater fool theory explains that investors continue to buy dubious securities, even when they realize they are greatly overvalued, with the belief that they could sell them to someone who would be willing to buy at an even higher price – the greater fool.

“Many investors may be able to make sizable short-term gains but a sudden sell-off with rapid price depreciation can leave many others holding essentially worthless or illiquid stocks.”

ABOVE: GORDON SICK, PROFESSOR OF FINANCE AT CALGARY’S HASKAYNE SCHOOL OF BUSINESS.

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FEBRUARY 2018 // BUSINESS IN CALGARY // BUSINESSINCALGARY.COM

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SPENDING TOMORROW’S SAVINGS // RRSP, TFSA & TAX PLANNING

Spending Tomorrow’s Savings

BY MARIO TONEGUZZI

LESS THAN ONE-THIRD OF CALGARIANS TAKE ADVANTAGE OF RRSPS

T

housands of Calgarians have marked March 1 on their calendars.

It’s the deadline for making an RRSP contribution for the 2017 tax year.

It’s also the day when a frenzy of activity takes place at financial institutions and with financial advisers throughout the city as individuals take advantage of a common savings vehicle – and tax savings device – available to all Canadians each year.

But procrastination and tough economic times are still leaving many out in the cold as less than a third of eligible tax filers use RRSPs. “I quite frankly think people don’t completely understand the power of the tax advantages with the RRSPs and there’s myths out there like ‘oh well when you retire you have to pay the taxes; that’s really difficult trying to pay the taxes,’” says

Lesley-Anne Scorgie, a personal finance guru, bestselling author and founder of MeVest, which offers people financial education, coaching and counselling.

“But quite honestly, a bird in the hand is better than two in the bush. What that means is that the savings today, if you deploy it into other investments and keep that money growing, is more likely to outweigh the future impact of taxes.”

According to Statistics Canada, 784,350 Albertans contributed to a registered retirement savings plan in 2015, down 0.6 per cent from 2014. That represented 27 per cent of all tax filers. The total contribution was $5.56 billion, down 3.1 per cent from the previous year and the median contribution was $3,440.

In Calgary, 295,080 people contributed to a registered retirement savings plan, down 0.4 per cent and representing 29.8 per cent of all tax filers. Total contribution of $2.4

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SPENDING TOMORROW’S SAVINGS // RRSP, TFSA & TAX PLANNING

billion was down 1.8 per cent and the median contribution was $4,020.

Besides RRSPs, Canadians also have tax-free savings accounts and registered education savings plans – where money can be saved and/or tax amounts reduced.

But saving seems to be a difficult task.

Also, many people have limited financial education or they don’t have a competent financial adviser they can trust.

In Alberta, and especially in Calgary, although saving money is the wisest approach to personal finance, it is simply a tough endeavour. Thousands have lost jobs from the downturn that began in late 2014.

“Every year the debt numbers continue to become more scary and they also continue to showcase that Canadians are spending more than they have. So if you’re servicing debt of course your RRSPs are going to be de-prioritized,” says Scorgie.

“If we’re talking to somebody who’s never saved an RRSP before you do need to start very small. I am a huge believer that even $5 is usually achievable for most adult Canadians.”

The easiest thing for Calgarians and Albertans to do is to take advantage of an employer-matched RRSP program.

This can provide a safe and easy way for contributions to build into future savings.

“THEY DON’T WANT TO CHANGE THEIR LIFESTYLE WHICH SEEMS RATHER SILLY TO ME BECAUSE IF YOU DON’T WANT TO CHANGE IT NOW JUST WAIT UNTIL YOU TURN 65 OR WHENEVER YOU RETIRE AND START TO LIVE OFF JUST YOUR CPP AND OAS AND SEE WHAT KIND OF LIFESTYLE CHANGES YOU HAVE TO MAKE AT THAT POINT IN TIME.” ~ BRIAN BETZ

“The benefit of signing up (to an employer program) is it comes directly off your paycheque before it hits your bank account and we all know once the money hits the bank account it tends to disappear. We’re big, big believers in trying to get that money into the RRSP before it hits the dark vortex of your bank account and disappears forever,” adds Scorgie.

It’s interesting, though, that even during the tough economic times Albertans and Calgarians are contributing more to RRSPs than Canadians in other parts of the country. According to Statistics Canada, 22.9 per cent of Canadian tax filers contribute to RRSPs with the median contribution at $3,000.

So why are Albertans and Calgarians contributing to RRSPs and stashing away more money when the province just went through two brutal recession years?

ABOVE: BRIAN BETZ, A DEBT COUNSELLOR FOR MONEY MENTORS IN CALGARY.

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SPENDING TOMORROW’S SAVINGS // RRSP, TFSA & TAX PLANNING

DYLAN HUGHES, TAX PARTNER IN THE PRIVATE ENTERPRISE GROUP WITH MNP IN CALGARY, SAYS WHAT PEOPLE NEED TO KEEP IN MIND IS THAT FOR MOST OF THEM THE RRSP IS AN EFFECTIVE TOOL TO SAVE FOR RETIREMENT WHILE MITIGATING ANNUAL INCOME TAX.

A key is that Calgarians, who are still working, are making more money than the national average. Also they are spending less on housing costs than people in Toronto or Vancouver.

Brian Betz, a debt counsellor for Money Mentors in Calgary, has seen it all in his years of helping people out of tough financial situations and educating them about the nuances of how to take care of their money.

His personal opinion is that not enough people use tax savings plans. But he also understands why they don’t.

“Statistics are saying that basically 50 per cent of employed people these days are living paycheque to paycheque. So it’s very difficult to scrape out some money to put aside,” says Betz.

“Also we have over the last 25 years gone from the middle of the pack to being number one worldwide in terms of indebtedness versus household income. We are extremely indebted.”

He doesn’t believe the percentage of RRSP contributors will ever get any higher because of the financial state of households.

Have people looked at the amount they would need at retirement age without retirement savings? Canada Pension Plan (CPP) and old age security (OAS) is really not a lot.

“They don’t want to change their lifestyle which seems rather silly to me because if you don’t want to change it now just wait until you turn 65 or whenever you retire and start to live off just your CPP and OAS and see what kind of lifestyle changes you have to make at that point in time,” says Betz.

“Or you just don’t stop working. That’s reality for a lot of people as well.”

Almost all financial advisers say people should pay themselves first. Meaning they should have a consistent plan where they put some money aside whenever they make money. Even a small amount goes a long way.

It really does come down to a financial literacy issue. It has been well documented in recent years how little Canadians understand personal finances. Whether it’s an RRSP, an RESP or a TFSA, many don’t know how they operate and the pros and cons of each. Because of that financial illiteracy, they are missing out on opportunities to save money for their future retirement, their children’s education or for other things they might want to spend their money on. And they’re also missing out on opportunities to decrease the taxes they pay to government.

Dylan Hughes, tax partner in the private enterprise group with MNP in Calgary, says what people need to keep in mind is that for most of them the RRSP is an effective tool to save for retirement while mitigating annual income tax.

“My general tip and advice that I’ve always lived by is to make savings a regular habit,” he says. “In other words, pay yourself first…. Put priority in saving and paying yourself first and that’s a much, much easier way of getting started than trying to put down some kind of lump sum; even if it’s something to the effect of five per cent of your income to start with on a monthly basis. You’ve got to work that into your budget and it’s going to pay dividends when the yearend comes around and you end up getting a larger tax refund than you would have otherwise expected anyway.”

ABOVE: DYLAN HUGHES, TAX PARTNER IN THE PRIVATE ENTERPRISE GROUP WITH MNP IN CALGARY. BUSINESSINCALGARY.COM // BUSINESS IN CALGARY // FEBRUARY 2018

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MANAGING THE NEW NORMAL // OIL & GAS

MANAGING THE NEW NORMAL

IT’S NO LON G E R FIXATE D ON PPB

BY JOHN HARDY

W

hile many people and businesses, directly and indirectly impacted by Calgary’s two-plus year slump, think positive and hope for the muchawaited turnaround, oil industry analysts and insiders are refocused (a bit bruised) and realistic about strategizing, success and managing in the new normal.

There is industry consensus, no longer moping or gloom and doom, that while some people waited for the recovery, the industry was regrouping, redefining and morphing itself into the challenges and opportunities of the new way of doing things.

“All companies are adjusting and focusing on achieving efficiency and value for their assets,” says Ben Brunnen, vice president oilsands at the Canadian Association of Petroleum Producers (CAPP), the respected voice of Canada’s upstream oil, oilsands and natural gas industry. “And companies are responding in different ways.

“The oilsands is reducing operations and engineering costs. It is more output with less costs. Minimizing operational costs and achieving balance-sheet strength will give the investment community confidence in the Canadian upstream industry.

From the investment perspective, it means lower risks.”

Analysts and experts agree that while the actual oil price will continue to be a vital industry factor, the new normal continues to evolve with new priorities and strategies.

“After decades of expecting an up cycle, more and more large and small oil and gas companies have become much more price conscious about their costs,” says Dr. Bob Schulz, professor of strategic management and academic director, Petroleum Land Management, at the University of Calgary’s Haskayne School of Business. “The companies that have cash are moving ahead with their plans. The smaller ones that don’t have cash are more cautious.

“What usually happens is the business budget has already been set for 2018, likely forecasting for $48-$50 PPB, maybe higher. We likely won’t see any more cuts and probably

ABOVE: BEN BRUNNEN, VICE PRESIDENT OF OILSANDS AT CAPP.

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MANAGING THE NEW NORMAL // OIL & GAS

“OILSANDS AND NON-OILSANDS OPERATIONS ARE LOOKING FOR OPPORTUNITIES TO CUT COSTS AND ASKING SERVICE COMPANIES TO DELIVER AT A LOWER COST.” ~ JACKIE FORREST

cautious hiring. I think this will be a year of consolidation going sideways.”

began testing new water-flood technology and increased our drilling inventory by 1,000 net new locations.”

“Companies have had to maximize their cash flow and take a long look at their cost structure,” notes Jackie Forrest, director of research at Calgary-based ARC Energy Research Institute, which conducts economic and investment analysis for ARC Financial Corp. and its stakeholders. “Oilsands and non-oilsands operations are looking for opportunities to cut costs and asking service companies to deliver at a lower cost.

This was achieved under budget with a total payout ratio of 89 per cent. “Financially, we remain disciplined and balancing our cash outflows with inflows,” he says with positivity.

“In the oilsands a lot of the jobs were engineering and staffing of mega projects, but mega projects that take five to seven years of spending before the first barrel of oil comes out of the ground are simply not being built.

While theories and overviews are important to better understand the uncharted new normal in the oil and gas industry, the contemporary logic of some dynamic, smaller Calgary-based companies is a good barometer of the new normal.

“During this downturn, we have improved our strategic positioning while protecting our financial position,” explains Ken Lamont, chief financial officer at Crescent Point. “In 2016, we exceeded our production guidance, improved our drilling efficiencies by 11 per cent, lowered our capital costs, developed new plays in the Uinta and Williston basins,

Although it is not spelled out in any detailed business plan, Haskayne’s Schulz underscores the keys to new industry success. “Innovation, innovation, innovation! Today’s companies must find and link together the innovative people in their own companies. At Haskayne, there is tremendous emphasis and targeted workshops about innovation.

“The essential new reality is that the industry’s leaders, not 60-plus but 40-plus, are focused on technology, collaboration and innovation. The new normal requires collaboration, more than competition, between companies.”

Although “price per barrel” remains a crucial industry factor, managers of the new normal emphasize two new contemporary factors: investment capital and the multifaceted role of technology.

“There’s a huge refocus on the Industrial Internet of Things,” Schulz says with enthusiasm. “The use of sensors in the field, growing awareness of big data, more analytics (trying to forecast when pumps may go down), crypto currency, drones and so much more. It’s a digital oilfield

ABOVE: JACKIE FORREST, DIRECTOR OF RESEARCH AT CALGARY-BASED ARC ENERGY RESEARCH INSTITUTE.

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MANAGING THE NEW NORMAL // OIL & GAS

TECHNOLOGY HAS ALSO BEEN A CRITICAL FACTOR FOR MEG ENERGY, THE CANADIAN OILSANDS COMPANY FOCUSED ON SUSTAINABLE IN SITU OILSANDS DEVELOPMENT AND PRODUCTION. now. If there is a hiring blitz, it will probably be in the data and analytics division.”

Lamont echoes the impact and importance of technology.

“The culture of a company is a very important ingredient for success. At Crescent Point, we are driven by a knowledgefirst culture, which has led to us being pioneers in advancing new technologies and the discovery of new plays.

“Crescent Point was an early adapter in microseismic, cemented liners, closable sliding sleeves, fibre optics, injection control devices (ICD), among other technologies.

We continue to see the benefits of this growing data set and are transferring technical knowledge across our asset base.”

Technology has also been a critical factor for MEG Energy, the Canadian oilsands company focused on sustainable in situ oilsands development and production. “Our ongoing technological developments are significantly changing the way we operate and grow,” says Davis Sheremata, MEG’s senior external communications advisor. “These technologies enable MEG to meaningfully reduce its steam-oil ratio, making it possible to reduce capital requirements for steam and water handling and decrease operating costs.

“It also allows for future expansions on a continuous basis as opposed to project by project, while offering significantly higher returns and reducing the company’s greenhouse gas emissions intensity.”

Sheremata underscores the role of technology in the industry’s new normal, and outlines that MEG’s growth plans through 2019 are focused on utilizing technology to increase production, while reducing costs and the company’s steam-oil

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ratio. He says evolving technology will allow MEG to reduce cash costs by $4 to $5 per barrel and continue economic growth going forward in the current price environment.

Investment flow is a pivotal industry factor. “Companies with a low-cost structure, with low-lifting cost for every barrel, make the most economic sense for investors,” Forrest explains. “They have plays that can be invested in: shorter-cycle investments; developments that can pay back more quickly.

“Investors no longer look for mega projects that take five to seven years of spending before the first barrel of oil comes out of the ground. For new investment, we are seeing a shift to new developments in tight oil and shale gas that are located across the province centred around Grande Prairie but also in other regions of WCSB as well,” she adds. “Over time, we may see new investment in oilsands too, especially smaller projects that are incremental to the existing projects with lower economic hurdles than the large mega projects and faster payback and cycle times.”

She emphasizes that investment’s shift away from mega projects doesn’t minimize the vital value of the oilsands.

“Canada supplies four per cent of global liquids, and production is still growing due to oilsands projects that were sanctioned before the downturn. New investment should push Canada’s total production to near 4.5 MMB/d.

“After the next several years, oilsands growth is expected to slow since no new projects have been sanctioned since the downturn. But even then, these long-lived low-decline oilsands facilities will keep Canada in the ranks as a top global oil supplier for decades to come. They will provide jobs and economic benefits for decades to come.”

Leading Business FEBRUARY 2018

CEO Peer Mentoring IN THIS ISSUE...

• Policy Bites - Mitigating the LayeredCost Impact: Our Recommendations to Government • Member Spotlight • CEO Peer Mentoring

“ What I have learned from my peers in the program has not only benefited my business, but made me a more confident leader.”

- Danny Hao, Owner, Tile and Stone Source International

CalgaryChamber.com

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2018 Board of

Directors

Policy Bites Mitigating the Layered-Cost Impact: Our Recommendations to Government

Executive Chair: Phil Roberts, President, Vintri Technologies Inc Vice Chair: Brent Cooper, Partner, McLeod Law Past Chair: David Allen, Founder & President Situated Co. Treasurer: Wellington Holbrook, Chief Transformation Officer, ATB Financial

Directors Bill Brunton, Vice President, Habitat for Humanity, Southern Alberta Mike Williams, Executive Vice-President, Encana James Boettcher, Chief Idea Officer, Fiasco Gelato Desirée Bombenon, President & CEO, SureCall Contact Centres Ltd Mandeep Singh, Audit Partner, Deloitte Jason Hatcher, Managing Principal, Navigator Greg Garcia, President and CEO, Calgary Elite Roofing

A

fter consulting with small and medium-sized businesses in Calgary, one thing has become all too clear – government policies are making it harder for businesses to succeed.

Minimum wage increases, rising municipal property taxes and Alberta’s carbon levy have all been put in place at a time where unemployment remains high and consumer spending low.

Each individual policy may not cause a healthy business to close its doors. Layered on together, however, these policies are causing harm – because when businesses see an increase in costs, it can mean higher prices for Calgary’s households, fewer funds for Calgary’s businesses to reinvest and fewer job opportunities for Calgary’s workers. We call this the layered-cost impact.

The Chamber has put together a set of recommendations that will assist all levels of government with mitigating the layered-cost impact, the resulting unintended consequences, along with achieving social policy objectives.

Brian Bietz, President, Beitz Resources

The layered-cost impact

Jenn Lofgren, Founder, Incito

The Chamber recommends all levels of government fully consult businesses on policy changes, and undertake a “layered-cost assessment” as part of the policy development process to mitigate current and future unintended consequences.

Mike Shaw, Vice President, Calgary Region Gas Distribution, ATCO Management Michael Andriescu – Director of Finance and Administration Kim Koss – Vice President, Business Development and Sponsorship Scott Crockatt – Director of Marketing and Communications

Moving forward, we urge Canadian policy-makers to look for business-centred solutions, and at the very least, to fully consult the business community when implementing policies that directly impact their operations. To our knowledge, there has been no layered-cost assessment completed by any level of government in Canada in recent years. We hope our findings encourage all levels of government, and other organizations, to conduct their own layered-cost assessments.

Rebecca Wood – Director of Member Services Zoe Addington – Director of Policy, Research and Government Relations Leading Business magazine is a co-publication of the Calgary Chamber and Business in Calgary Calgary Chamber 600, 237 8th Avenue S.E. Calgary, Alberta T2G 5C3 Phone: (403) 750-0400 Fax: (403) 266-3413 calgarychamber.com

Alberta’s minimum wage increases The Chamber recommends the Alberta government stop the minimum wage increases at $13.60/ hour until an in-depth analysis can be completed on its impact on provincial economic activity and employment. The Alberta government should consider targeted approaches to poverty alleviation including an expansion of the Alberta Family Employment Tax Credit to cover the full demographic of low-income working Albertans.

Alleviating poverty and ensuring all Albertans are paid a fair wage for a day’s work are important public policy concerns. However, while costing Alberta’s small and medium-sized businesses thousands of dollars, arbitrary minimum wage increases tend to be ineffective at targeting those most in need of support. To mitigate against any further job losses – 36 per cent of businesses surveyed will likely need to lay off workers if the minimum wage increases to $15 – the Alberta government should freeze the minimum wage until an in-depth analysis can determine its impact on economic activity and employment.

Instead of minimum wage increases, the Alberta government should consider targeted policy approaches. One such measure could be the expansion of the Alberta Family Employment Tax Credit

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(AFETC) to assist the full demographic of low-income working Albertans, including individuals and households without children.

The cost of Canada’s and Alberta’s Climate Leadership

Calgary’s non-residential property tax bill

The Chamber recommends the Alberta government take a more balanced approach to the Climate Leadership Plan by recycling a greater portion of the carbon levy’s revenue through a reduction in corporate and personal income taxes.

The Chamber recommends the city extend the non-residential property tax relief through 2018, while working to find a long-term solution to mitigate large swings in property assessments. The city can do their part to ensure future property taxes do not significantly rise by containing annual spending increases within a “smartspending bandwidth” – the combined rates of consumer inflation plus population growth.

Had the city not intervened to provide tax relief in 2017, approximately 6,000 businesses outside the downtown core could have seen their property tax bill increase significantly, some as much as 200 per cent. More businesses would have been at risk of closing their doors, with more potential jobs being lost.

We applaud the city’s decision to support Calgary’s businesses and the economy by extending property tax relief through 2018.

However, we still need to find a longer-term solution; a solution that mitigates large swings in property assessments, and balances the burdens between residential and nonresidential taxpayers.

While working to resolve an issue created by a drop in vacancy rates, the city can maintain fiscal discipline by keeping spending increases below the combined rates of consumer inflation plus population growth.

Calgary businesses understand the need for environmental stewardship. In fact, many businesses in Calgary are already world leaders in sustainable energy development, and clean production and technologies.

While we applaud some steps the Alberta government has taken to mitigate the costs of carbon pricing, such as reducing the small business rate by one percentage point, granting output-based allocations to tradeexposed businesses, and providing rebates for lowincome households, more steps are needed to support competitiveness. This is especially the case as other international jurisdictions do not have a price on carbon.

Given the many costs being layered on the business community from all levels of government, the Chamber would like to see more of the revenues collected from the carbon levy be recycled through a reduction in corporate and personal income taxes. By reducing other taxes paid by Alberta’s businesses and households, we can encourage a reduction in GHG emissions, while incenting greater levels of investment and maintaining Alberta’s competitiveness.

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Chamber Member Spotlights The Calgary Chamber is proud to represent many Calgary businesses large and small; this month we are highlighting some of our industry leading members.

Thanks Concorde Group

Concorde Group entered Calgary’s hospitality scene in 1987 with the opening of Republik, a college bar dedicated to alternative music fans and 30 years later has grown to become one of Canada’s largest and most diverse hospitality companies. Now with a total of 17 establishments under its banner, each with its own unique vision, Concorde Group remains focused on bringing exceptional dining and entertainment experiences to Calgary. Whether looking for a seat on a patio, a gourmet meal, a counter-served burger and shake, or a night out on the town, Concorde Group is always at the heart of fun, offering something for all Calgarians.

For more information, visit concordegroup.ca.

Deloitte

Deloitte LLP, one of Canada’s leading professional services firms, provides audit, tax, consulting and financial advisory services to a wide range of Canadian and international clients. Deloitte LLP is the Canadian member firm of Deloitte Touche Tohmatsu Limited, which is a network of member firms, each of which is a legally separate and independent entity. Deloitte is the brand under which tens of thousands of dedicated professionals in independent firms throughout the world collaborate to provide audit, consulting, financial advisory, risk management, tax and related services to select clients.

For more information, visit deloitte.com.

The Chamber thanks the following long-standing member companies celebrating anniversaries this month for their years of support to the Calgary Chamber, and their commitment to the growth and development of Calgary.

Member name

Years as a member

TransAlta Halliburton Group Canada Walsh LLP Service Canada CGI Information Systems & Management Consultants Boyden Global Executive Search MaXfield Sheldon Chumir Foundation for Ethics in Leadership Alberta Human Services APL Oil & Gas Esker Foundation Fergus & Bix Restaurant GT Process Solutions Inner Solutions, Inc. Kayak Online Marketing McLeod Law LLP Western Flat Deck Trucking White Glove Home Imaging

55 50 50 45 20 15 15 10 5 5 5 5 5 5 5 5 5 5

Congratulations to TransAlta for celebrating 55 years as a Calgary Chamber Member.

Canoe Financial

Founded in 2008, Canoe Financial LP established operations with the acquisition management of the publicly-traded $1.2-billion Canoe EIT Income Fund. Canoe now manages approximately $4.6 billion in assets across a diversified range of open-end mutual funds, and private energy equity products. Canoe has expanded from its Calgary head office to across Canada, including a significant presence in Toronto and offices in Vancouver, Winnipeg, Ottawa and Montreal. Since launching its first mutual funds in February 2011, Canoe has grown its mutual fund assets to more than $2.8 billion, making it one of the fastest growing entities in the Canadian mutual fund industry.

For more information, visit canoefinancial.com.

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TransAlta TransAlta develops new, and owns and operates a diverse fleet of electrical powergeneration assets in Canada, the United States and Australia with a focus on longterm shareholder value. They provide municipalities, medium and large industries, businesses and utility customers clean, affordable, energy efficient, and reliable power. Today, they are Canada’s largest producer of wind power and Alberta’s largest producer of hydroelectric power. For over 100 years, TransAlta has been a responsible operator and a proud community member where its employees work and live. TransAlta aligns its corporate goals with the UN Sustainable Development Goals and has been recognized by CDP (formerly Climate Disclosure Project) as an industry leader on climate change management. They are proud to have achieved the silver-level PAR (Progressive Aboriginal Relations) designation by the Canadian Council for Aboriginal Business.

For more information, visit transalta.com.

AMVIC Licensed

Chamber Member Spotlights Con’t The Calgary Chamber is proud to represent many Calgary businesses large and small; this month we are highlighting some of our industry leading members.

and proven best practices, to help clients succeed in their mission-critical priorities. Gartner is headquartered in Stamford, Connecticut, and has more than 13,000 associates serving clients in 11,000 enterprises in 100 countries.

For more information, visit gartner.com.

Nexen Energy

Nexen is an upstream oil and gas company responsibly developing resources in some of the world’s most significant basins in Canada, the United States, the U.K. North Sea, Ireland, South America and West Africa. As wholly-owned subsidiary of CNOOC Limited, Nexen is strategically focused on three businesses: conventional oil and gas, oilsands, and shale gas/oil.

For more information, visit nexencnoocltd.com.

Gartner Gartner, Inc. (NYSE: IT) is one of the world’s leading research and advisory companies. They help business leaders across all major functions in every industry and enterprise size with the insights needed to make the right decisions. A comprehensive suite of services delivers strategic advice,

University of Calgary UCalgary is a publicly-funded university offering more than 250 academic programs and housing more than 50 research institutes and centres.

As one of Canada’s top comprehensive research universities, UCalgary prepares its 30,000-plus students for success in life through a high-quality educational experience made rich by research, hands-on experiences and entrepreneurial thinking. The creation and transfer of knowledge at UCalgary contributes every day to Canada’s global competitive advantage and addresses society’s most persistent challenges. The university has a clear strategic direction to be one of Canada’s top-five research universities; wherresearch and innovative teaching go hand in hand, and where it fullyengages the communities it serves and leads.

For more information, visit ucalgary.ca.

Calgary Chamber’s CEO Peer Mentoring Program Invest in yourself. Invest in your company. Find your tribe.

“CEO Peer Mentoring is the best thing I have done for my business.”

- Yolanda Hula, president and CEO of LeTeam Business to Business Ltd.

A

s a business owner, one of the best things you can do for your company is invest in yourself as a leader.

The Calgary Chamber’s Peer Mentoring program is for entrepreneurial leaders wanting to learn how to run their business more successfully and productively, while developing their leadership and decision-making skills.

As a CEO, it can be lonely at the top, and hard to find the right kind of people to bounce ideas off when faced with a tough decision or to help navigate the challenges of growing a business. Speaking with staff about issues facing the company usually isn’t an option. That’s where the Calgary Chamber’s CEO Peer Mentoring program comes in.

CEO Peer Mentoring is a high-value/low-cost format to gain real-time feedback on sensitive business issues from peers who

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are facing, or might have faced similar issues. Led by a certified facilitator, this confidential, small group roundtable program brings together 11 business leaders from non-competing companies once a month. Participants are matched with other leaders from companies with similar business traits (size, revenue levels and growth goals) to discuss business issues ranging from company culture and product development to finance and strategy. In these private conversation sessions all topics are on the table, and discussed in confidence.

Lean on other business leaders, share knowledge and take your business to the next level – that’s what CEO Peer Mentoring is all about.

To learn more about CEO Peer Mentoring, contact Johanna Clark at jclark@calgarychamber.com.

BRINGING THINGS TOGETHER FOR THE MOST DISCERNING MEETING PLANNERS. There’s a sense of uptown in a city-centre event space.

There’s a tone of elegance, professionalism and high quality. A sense that exceptional service isn’t an outlier, it’s the norm— where you know things are looked after.

It’s more than a space.

It’s a feeling.

A feeling you have when all things align, when all of the important details, the big and the small, have received the attention they deserve. That’s when it’s right. Nothing’s off-balance. Everything’s centred.

Ultimate experiences are built on this feeling. Not only for guests and delegates but also for you, the one responsible for planning and delivering the memorable event. At the Calgary TELUS Convention Centre, we’ve reframed our focus to look after you, so you can look after your clients and guests.

As the one who produces a great event and the most memorable moments for your clients, we know you have to deal with challenging situations. That’s why we’re doing more to help you balance the demands of your event. From the planning and coordinating to dealing with special requests and last-minute changes, we’ve seen it before and we’re here to help you bring it all together.

Our full team is committed to stepping up and leveraging our knowledge and our decades of convention and conference experience to help you achieve your ultimate goals. Whether it’s scheduling load-in and load-out times, managing logistical details or lending a helping hand to open a door or help move a box for you, we’re committed to working with you to navigate the complete event. It’s our renewed commitment to provide you with a customercentric service well beyond the space itself.

And when things go a little haywire, as they often do, we’ll be the ones there for you, helping to bring things together and to keep things centred throughout it all.

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Economic Development Fund a Catalyst for Growth in Calgary

BY STEPHEN EWART

A

catalyst is defined in the dictionary as an agent that provokes a significant change or action – and that’s precisely the goal for Calgary’s new Economic Development Investment Fund (EDIF).

To spur economic growth and diversification, city council approved $100 million for what is known as the EDIF to be used to attract and retain growing dynamic companies as well as support “catalytic” investments that will alter the Calgary economy.

The EDIF will be in place in the first quarter of 2018, supporting strategic efforts by Calgary Economic Development to market the city’s talented workforce, business advantages and exceptional quality of life to attract investment.

Calgarians identified the economy as a top priority and they acknowledge the challenges brought on by a rapidly evolving energy sector requires bold thinking. Most major North American cities have similar fiscal tools to call on to attract investment.

vision and capital is fierce,” warns Jim Gray, an energy industry legend, member of the Canadian Business Hall of Fame and chair of the EDIF steering committee. “We must have the intellectual and fiscal tools to compete with other cities that have dedicated the resources necessary to be a serious player in attracting investment.”

Major corporate investments are increasingly seen by businesses as partnerships with governments, and municipalities must be able to bring something to the table that will help close a deal that will bring benefits to Calgary.

Types of projects that could be supported may include targeted infrastructure, strategic relocation of industrial land, investments in technology, job training, brownfield redevelopment, innovation clusters/zones and optimization of vacant space.

Proposals will be reviewed by a steering committee of local business leaders and third-party consultants to remove any politics.

The EDIF was initially established last June as a result of the Downtown Economic Summit. The summit was held in March to help move on from the two-year recession that left more than 25 per cent of the office space vacant in the city centre.

Proposals will be processed once all the governance protocols are approved by city council, likely in the first quarter of 2018. The EDIF funding will come from the city’s existing reserves and it will not impact municipal taxes.

There is intense competition among cities worldwide to attract investment and create jobs. Calgary was largely on the sidelines of the battles for the last 25 years as the booming oil and gas sector meant that recruiting skilled workers was the city’s biggest challenge.

The EDIF won’t be used to support the financial viability of a private company. No loans to businesses are permitted under the program and funds can not be used for tax relief, marketing or public relations.

Times have undoubtedly changed.

“To some degree, every city in North America faces similar challenges to those we face. The competition for brains,

The goals are lofty – support 3,600 new jobs, leverage $238 million in funds, boost annual GDP by $300 million and add $300 million in incremental investment. It promises to be a tool to respond in short order to create long-term economic opportunities.

Stephen Ewart is a manager in research and strategy at Calgary Economic Development.

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Tourism Calgary Launches New Website to Better Serve Visitors and Calgarians

BY CASSANDRA MCAULEY

O

ffering an intuitive, interactive and accessible website is an important tool in attracting visitors from across Canada, the U.S. and other international markets to Calgary. In order to showcase the best of our city to potential visitors from around the world, Tourism Calgary has launched a new visitcalgary.com.

In 2017, there were 2.3 million visits with the previous iteration of visitcalgary.com, resulting in over 940,000 referrals to Tourism Calgary partners (restaurant, retail, transportation, attractions, entertainment and accommodation offerings). In a recent survey of Canadian travellers who visited Calgary in the last year, 82 per cent indicated that visitcalgary.com influenced or led them to do more while in our city.

Mobile device use has become the preferred method of interaction with the site, resulting in Tourism Calgary taking a mobile-first approach to the new design. Meant to offer a seamless experience on all mobile devices, visitors and Calgarians can use the site with ease while they explore our city and region, without having to download an app.

The new site features an extensive and updated calendar of events, an interactive map of Calgary, enhanced video and image-centric storytelling and specially-themed lists of unique and popular experiences throughout the city.

Enhanced social media connections on the new site will help to facilitate interactions between consumers and Calgary businesses. Additional features will be incorporated throughout the year, including tailored itineraries and the ability for users to like and save preferences.

THE ENHANCED FEATURES AND CAPABILITIES OF THE NEW VISITCALGARY.COM ARE ALSO MEANT TO HELP CALGARIANS BE ULTIMATE HOSTS TO THEIR VISITING FRIENDS AND RELATIVES. The enhanced features and capabilities of the new visitcalgary.com are also meant to help Calgarians be ultimate hosts to their visiting friends and relatives. With 48 per cent of visitors to our city coming to see friends or loved ones, Calgarians are encouraged to use the site to plan itineraries or discover new local options available to them and their guests.

With a goal of facilitating inspiration and exploration, Tourism Calgary engaged Critical Mass to support the strategic approach, design and technical development of the new site. In addition to undertaking detailed research into the needs and habits of visitors and Calgarians, Tourism Calgary also worked extensively with stakeholders and partners to ensure the functionality of the website serves consumers and partners most effectively.

Tourism Calgary is committed to making ours the Ultimate Host City, and the new visitcalgary.com is an important step in sharing the best of Calgary with the world.

To experience the new site, launching the first week in February, and to learn more about Tourism Calgary, see visitcalgary.com.

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An initiative by Calgary Economic Development

Make Your Startup Idea a Reality

BY JENN DELCONTE, COMMUNITY MANAGER, STARTUP CALGARY

W

ant to make your startup idea a reality? Startup Calgary can help!

With our knowledge, know-how and connections, and a big “can-do” attitude, Startup Calgary can guide and support you on your entrepreneurial journey.

Founded in 2010, Startup Calgary is the passionate advocate and collective voice for the entrepreneurial movement that is reshaping Calgary. We exist to inspire and welcome people into our community by facilitating collisions of diverse people, ideas and skills. To better serve the city’s early-stage entrepreneurs and strengthen the innovation ecosystem, Startup Calgary became part of Calgary Economic Development in 2017.

Have an idea but aren’t sure where to start? Here are a couple events to check out first: Startup Drinks - this social event is held on the last Wednesday of every month. It’s the perfect place to meet other entrepreneurs and get feedback on your startup ideas in a casual environment.

Startup Community 101 - this workshop provides an overview of all the local resources available for tech-focused entrepreneurs. It covers relevant events, mentorship, educational programs, job boards and even some networking tips.

Startup Weekend - this hackathon is a fun, hands-on way to learn what it takes to build, validate and launch your idea.

Throughout the course of the weekend, you’ll work with teams and coaches to validate and develop a prototype. You’ll present your final product on Sunday evening for a panel of judges and fun startup awards.

You’ve launched your business but feel stuck? Here are programs that will help you take your startup to the next level: Business Model Canvas (BMC) Workshops - these monthly workshops teach you the foundation of the Business

Model Canvas in order to transform your understanding of your business. Our intermediate workshop takes a deep dive into creating meaningful value propositions.

Startup Funding 101 - this six-part funding series teaches you the dos and don’ts of raising startup capital and includes a practical pitch coaching session.

Launch Party - our annual celebration of Calgary’s upand-coming tech startups that takes place every November during Global Entrepreneurship Week. Launch Party is comprised of a series of events designed to elevate entrepreneurs and give them the exposure needed to reach their next milestones.

Become a Startup Calgary Member You’ll be the first to hear about events, get access to resources and support, and connect with other entrepreneurs.

Visit startupcalgary.ca to become a member or to register for upcoming events.

PHOTO SOURCE: STARTUP CALGARY

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IT ALL COMES TOGETHER…

Introducing a new way of providing convention and conference services to planners here and abroad.

… AT THE CENTRE.

It’s more than a space.

It’s the ultimate experience. calgary-convention.com

MARKETING MATTERS // DAVID PARKER

Marketing Matters

BY DAVID PARKER

T

he request by the Calgary Exhibition and Stampede was for the 2018 poster to be produced in multiple mediums. Working together as a team, the Stampede’s Cindy Gillies, equine artist Shannon Lawlor and creative agency Nonfiction Studios created a print poster showing more than 100 years of Stampede history and also an animated digital version that throbs to the excitement of the world-class event.

It is made up of a painting by Lawlor of rodeo cowboy John Swales and his son riding into a collage of history and images of events that on the web version are expanded into video presentations.

Since he helped found the agency 15 years ago, Nonfiction principal Robb Grundy has enjoyed a legacy relationship with the Stampede and enjoys his current voluntary position as vice chair of the rodeo committee.

Alberta has some fine brewers who get to work with the bestquality barley, water and maltsters; so local beer should be top choice in any bar or restaurant.

Members of the Alberta Small Brewers Association, a notfor-profit organization of local entrepreneurs, are banding together to boast about their brews and promote the benefits of buying well-made, healthy and tasty beer.

Evans Hunt has been engaged to create the brand.

The new Servus Arena has opened in Red Deer with oohs and ahs for the huge 180-foot-by-five-foot mural, designed, produced and installed by Doug Driediger of Metrographics.

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The colourful piece of public art is made up of a collage of historic photos and Driediger’s paintings of sports and family skating.

A graduate of ACAD, Driediger founded Metrographics in 1981 and although the firm is involved in creative production for clients’ standard advertising and communications needs, his focus has been on large-scale, site-specific public art.

He has completed some 40 murals across Western Canada; many admire the Giving Wings to a Dream on the former CUPS building and the Turner Valley mural on the back of the Calgary Petroleum Club.

Metrographics is one of the companies now resident in cSPACE King Edward, the exciting new workspace for the arts.

Mark Kamachi of AdMaki is busy working on new creative for Wild Rose Brewery and other clients like Universal Ford Lincoln, Delta Kananaskis Lodge and the Town of Okotoks but he is also settling in at his first term as an elected councillor for Rocky View County.

Kamachi has become a well-known resident of Bragg Creek with the opening of his Brainbar in the strip mall below his office offering the best Internet reception in the community.

A workspace collaborative, Kamachi says it’s part library, part theme park and part food truck.

Parker’s Pick Centini for showing leadership in advertising downtown restaurants – in print.

FOR EVERYTHING THAT CAN GO WRONG UNDER YOUR ROOF, THERE’S THE NUMBER THAT LIVES UNDER OURS. Fifty percent of businesses may never re-open after a disaster. That’s why knowing the easiest way to contact SERVPRO® is so important. Because the sooner you get in touch with us, the quicker we can start to minimize the damage, as well as the cost. Just contact SERVPRO of Calgary South or SERVPRO of Edmonton Southside to activate the cleanup team that’s faster to any-sized disaster. We’re a leader in giving control back to homeowners, property managers and even entire communities after the ravaging effects of water and fire. So whether you’re responsible for 1,000 square feet or 100,000 – it’s your decision to call on the very best. Your trusted, local SERVPRO professional.

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• 2.8 Parking stalls per 1,000/SQFT

• Future fitness facility

EASY ACCES S TO DOWNTOWN, GLENMOR E TR AIL AND DEER FOOT TR AIL .

MANY AMENITIES NEARBY INCLUDING CHINOOK CENTRE AND DEERFOOT MEADOWS.

97% leased

8820 - Blackfoot Trail SE

324 – 58th Avenue SE

• Only 4,000 sq.ft. first class office space remaining • IC Zoning • 3 Parking stalls per 1,000/SQFT Surface & Underground • 4 buildings: 1 & 2 storeys • Future fitness facility • 132,506 SQ FT total project size • Immediate availability

30,000 SQ FT tenancies • IC Zoning • Retail and commercial development • Ample surface parking • Drive-thru opportunity • 96,000 +/- SQ FT total project size • Pre leasing • 800 sq

ft –

Centron specializes in real estate development, leasing, sales and construction of office, retail, residential and industrial projects.

Centron Cares is proud to partner with Accessible Housing (Resolve Calgary) constructing a Residential Care Facility for limited mobility residents.

403-252-1120 • #104, 8826 Blackfoot Trail SE Calgary AB | T2J 3J1 centrongroup.com Leasing@centrongroup.com