St. John's Board of Trade March/April Business News

GUIDING EFFECTIVE BOARD RENEWAL Moving beyond term limits

MARCH/APRIL 2015

VOLUME 30, NUMBER 2, 0834-2015

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

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

Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade.

We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions.

Editor: Printed by: Layout:

Kristina George Transcontinental Media Dc Design House

ST. JOHN’S BOARD OF TRADE EXECUTIVE Kim Keating Chair Des Whelan Senior Vice-Chair Dorothy Keating First Vice-Chair Andrea Stack Second Vice-Chair Sharon Horan Immediate Past Chair Derek Purchase Secretary-Treasurer

Cover Story 2 Chair’s Message 3 Member Spotlight: O’Reilly’s 4 Upcoming Events 6-7 Advocating for You 9 Member Benefits 11 Features 8, 12, 14, 16, 17, 18, 23, 24 Labrador 13 Chair’s Inauguration Photo Gallery 20 -21 What are you @? 25 Meet your Ambassadors 26 - 27 Around The Board 31 - 33 Member News 34 - 36 Industry News 37 - 38 New Members 40

BOARD OF DIRECTORS Kim Paddon Janis Byrne Kevin Peters Craig Ennis Jim Fallon Wilfred J. Zerbe Andrew Wadden Marilyn Butland

STAFF Nancy Healey Chief Executive Officer Manager of Finance and Compliance Jennifer Chaytor Lori Coleman Business Affairs Manager Margie Davis Executive Sales Director Kristina George Communications and Advocacy Specialist Rhonda Tulk-Lane Policy and Advocacy Specialist Wanda Palmer Director of Sales and Member

Fulfillment Jackie Bryant-Cumby Member Relations Administrator Brendan Hagerty, Labrador and Labour Market Specialist Elizabeth Kennedy Research and Marketing Assistant St. John’s Board of Trade 34 Harvey Road P.O. Box 5127 St. John’s, NL A1C 5V5 Canada Tel: (709) 726-2961 Fax: (709) 726-2003 E-mail: mail@bot.nf.ca Website: www.bot.nf.ca

Dc talks about his:

SHAVE FOR THE BRAVE dcdesignhouse.ca/shave-for-the-brave

Board renewal framework Boards Must Take the Lead on Effective Renewal | By Matthew Fortier

How boards are composed has become an increasingly important governance issue. Large investors, regulators and other capital markets participants are applying pressure on boards to achieve their ideal composition to maximize effectiveness and help drive long-term value.

At the end of last year, Canadian securities regulators began introducing enhanced disclosure rules regarding gender diversity on the boards of non-venture issuers. One rule obligates issuers to describe the term limits policy for their board members or other mechanisms they have instituted to renew the board. If companies do not have such policies, they must explain why. While the ICD has been a consistent and vocal supporter of increased gender diversity on boards, we expressed concern to the regulators that the issue of term limits was being conflated with that of diversity.

Term limits may play a role in guarding against excessive tenure lengths and create some predictability around directorship openings, but we think - and many institutional investors agree - they are insufficient on their own as a board renewal policy. In addition, the ICD believes that boards should not “wait out” the term of an under-performing director or that of a director who’s skills do not align with the strategy of the organization.

structured policy that is unique to the issuer and its board.

To that end, the framework we provide in Beyond Term Limits centres on the concept of performance management, including effective board evaluations set within a performance culture.

Performance management is simply the concept of measuring and managing the effectiveness and progress of people within an organization. A crucial starting point for any performance management system is a thorough and regular review of staffing and skills needs of the organization. At the board level, this means a review of who sits on the board and the skill-sets they bring to the table. Many boards employ skills matrices for this purpose to ensure that the competencies needed to carry out its mandate and advance the organization exist at the board.

At the board, performance cultures are established primarily by the chair, who must take the lead in the director evaluation process and must set a tone of accountability. If, after building a skills matrix and completing board evaluations, weaknesses at the board are apparent, it falls to the chair to address these with directors who are deemed by their colleagues to no longer be adding value.

A board that is subject to rigorous evaluation and that understands from the chair that it is accountable has every incentive to be effective. Stated simply, if the chair informs the director from the start that he or she may be involved in a tough conversation, there is usually no need to have one.

Canada’s boards are increasingly expected to take on complex organizational oversight and governance roles. Renewing them should also be a process involving a great deal of thought and analysis.

Those skills and qualities the board determines it needs should be a primary input into its performance management and succession planning process, including the recruitment and replacement of directors.

In ICD’s recent thought leadership paper, Beyond Term Limits: Using Performance Management to Guide Board Renewal, we provide a framework within which to build an effective renewal policy that can be disclosed under the new rules. We argue in the paper that, fundamentally, it is the board’s responsibility to take the lead in renewal. As we have witnessed many times through proxy contests and other activist investor action, when a board is deemed to be under-performing and not renewing itself sufficiently, an external actor will attempt to force change.

After gaining an understanding of actual and needed director skills, it is vital the board measure strengths and weaknesses, both of the group and of the individuals.

Most boards of major issuers in Canada already undergo some form of full board or individual director evaluation, whether through surveys, in-depth interviews with the chair or the chair of the governance committee, or through a third-party assessment.

We also stress that effective board composition demands rigour and analysis, and that increased regulation - whether through disclosure rules, proposals to increase proxy access for large shareholders or other external mechanisms - is not a substitute for a thoughtful, well-

Ultimately, performance management systems are only meaningful if they are set within a culture that values – and enforces – high performance from individual directors and the board as a whole. That is to say, the data provided through these mechanisms are acted upon and,

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sometimes, directors who are not adding value, or who do not have skills aligned to board and organizational strategies, will be asked to resign.

Business NewS March / April 2015

Matthew Fortier is Vice President, Policy for the Institute of Corporate Directors.

CHAIR’s message Government has heard from business Every year around this time provincial government officials seek the opinions of residents and stakeholder groups about what they would like to see in the budget for the year ahead. Once again this year, the St. John’s Board of Trade attended a pre-budget session where we outlined the business community’s priorities for the 2015 provincial budget. Our list isn’t particularly long, however, it does include actions that we feel are necessary to maintain a strong private sector in this province.

With government forecasting a deficit of close to one billion dollars this year, and more deficits for the future, there is no doubt some tough choices and decisions will have to be made in this year’s budget.

But as we stated during the pre-budget consultation process, as well as in previous meetings with both Finance Minister Ross Wiseman and Premier Paul Davis, in order to solve the fiscal challenges this province is now facing, it has to start with getting its financial house in order. This will ensure important public services like health care and education are sustainable over the long term.

As it grapples with the drop in the price of oil and rising debt, government has clearly indicated it plans to borrow money, rein in spending and raise taxes. Over the past decade the provincial government has invested heavily in programs and services. As it looks to reduce unnecessary spending, government needs to properly evaluate all of its programs and services and first determine if they are necessary, and secondly assess whether alternative delivery models exist to achieve the same, or even better results.

An obvious opportunity to seek innovative solutions to program and service delivery is within our health care system.

Newfoundland and Labrador’s health care budget has grown by more than 140 per cent in the past 12 years and at $2.9 billion accounts for 40 per cent of the provincial budget. Yet we are ranked last in the country when it comes to value for money.

As our population ages the cost of health care will continue to increase, so it is imperative we look now at innovative ways

to improve service delivery. We recommend government seek advice from a third party to help us better understand why we pay so much more per capital for health care. This, coupled with their own internal review on primary health care, could find solutions to rising costs and expenditures.

As the voice of business, the Board of Trade does not support tax increases. We have cautioned government that raising taxes at this time could deter consumer spending and investment in this province.

Government has made strides in cultivating an environment that fosters business growth and development with our current tax regime. Creating the conditions for economic success that attract and retain business is critical to our future.

While we won’t know details until budget day, in all likelihood there will be some form of a tax increase in this year’s budget.

Tax rates need to complement an effective and efficiently run government, and we would like a commitment that any changes to the current tax regime be repealed once the province’s finances are stable.

Our final recommendation to the Finance Minister and the Premier is to make population growth a priority. Any strategy to grow the population must focus on keeping our talented youth here, as well as increasing and retaining the number of people who immigrate to this province, nationally and internationally.

The province also needs to work with the federal government to produce relevant, timely labour market information, realign resources to upskill the current labour force and increase resources for immigration if we are going to have enough people with the right skills to meet the needs of business.

Provincial debt affects us all. For the business community we know it is difficult to attract business and investment in a place where there is fiscal uncertainty, therefore, strategic decisions need to be made now that will positively impact the province for the long term.

Business NewS March / April 2015

Chair, Kim Keating The future is not that far away At the St. John’s Board of Trade our primary goal is to help business succeed. We need to strategically position ourselves to take advantage of the business opportunities this province has to offer and ensure we minimize the risks that threaten our economic prosperity.

This year our focus will be to work with our members to prepare for the future, and to sustain the prosperity this province has been experiencing over the past few years.

We have started a Business Retention and Expansion Pilot Initiative in partnership with the Department of Business, Tourism, Culture and Rural Development, which is allowing 25 of our members to work one on one with and Economic Development Officer to examine their business operations and uncover issues that may limit future plans and overall growth and success.

Throughout 2015, we will work to inspire members to develop and execute a plan to sustain their prosperity beyond the next 5, 10, 20 years. We plan to offer initiatives to enhance our members’ competitiveness through productivity and innovation.

You will be hearing more about our Sustaining Prosperity initiative through the months ahead.

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O’Reillys A

favourite ON & OFF THE ISLAND

by Alicia Wakeham

in the hospitality industry in 1994. “I feel like I was born an entrepreneur,” she says.

Her advice for anyone considering starting their own business is to “find a mentor, do your homework, know yourself and of course love what you do as being an entrepreneur is not a job but a passion.”

Newfoundland and Labrador is known for its great hospitality and live entertainment. Brenda O’Reilly and her husband, Craig Flynn, decided to combine the two and on December 5, 1996 O’Reilly’s Newfoundland Pub opened its doors for business.

Not only has O’Reilly’s become a popular place for locals and visitors alike to enjoy a scuff an scoff in downtown St. John’s. O’Reilly’s beat out 100 bars from across the country to be named Canada’s Favourite Bar by Air Canada enRoute and

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Brenda’s success has come with the help of her focused but fair attitude, her business partner and husband Craig, and her staff, which describes as tremendous.

Since opening up O’Reilly’s in 1996, the Boom has been embraced by O’Reilly’s growing business. Along with being named Canada’s Favourite Bar, Brenda says her biggest accomplishment is surviving and thriving for 20 years in the hospitality industry. She has also experienced many rewarding opportunities, including her favourite of sitting on Restaurants Canada Board of Directors for 19 years, including a term as chairperson.

Before becoming an entrepreneurial success, Brenda starting with catering in her late teens and became self-employed

For more information on O’Reilly’s Irish Newfoundland Pub go to: http://www.oreillyspub.com/

Rickard’s. Brenda describes being named Canada’s Favourite Bar as “incredible, like a big warm hug. It is a huge opportunity for O’Reilly’s Irish Newfoundland Pub, we are really excited for our future!”

The hospitality industry is a service industry and we have to rely on our staff to deliver not only our goods and services but exceed customers’ expectations, so a big thank you to our staff.” – Brenda O’Reilly Business NewS March / April 2015

Alicia Wakeham is a fourth-year Bachelor of Commerce (Cooperative) student at Memorial University who recently completed a work term as the Board of Trade’s Research and Policy Assistant.

LENGTHY LISTS OF PRE-WORK SAFETY CHECKS PERFORMED BEFORE VIRTUALLY EVERY TASK TO WORLD CLASS STANDARDS. ALSO KNOWN AS MONDAY. SAFETY MATTERS, DOWN TO THE SMALLEST DETAIL.

Onshore or offshore, every shift in Newfoundland and Labrador’s oil and gas sector starts with a safe-work planning process. It’s a process that has been developed based on international oil and gas industry best practices.

Before every shift, planning meetings are held to review previous work and prepare for the shift ahead. The scheduled tasks are then guided by a safe-work plan. Elements of the tasks at hand are identified, including:

the who and where of the job, the potential emergency response needs and whether other tasks can occur in the area at the same time. This rigorous system of pre-task checks is designed to ensure a consistency and awareness of what’s going on for everyone involved and on-site.

Day in and day out, the priority remains the same: an open safety culture that empowers workers at every level to make the right decisions.

TO LEARN MORE, VISIT ATLANTICCANADAOFFSHORE.CA/PRINT 5

upcoming events St. Patrick’s Day Business Mixer

LUNCHEON The #1 Success Strategy for Big Results

Fairfield Inn & Suites by Marriott is delighted to celebrate one of the biggest holidays of the year with Board of Trade members. Join us for complimentary hors d’oeuvres, happy hour prices, music, networking and a chance to win one of two complimentary Night Stays at the Fairfield Inn & Suites. Make sure you come in spirit and dress in green!

These days, we’re all busy. Some people handle it well and are able to move from task to task with grace and confidence, never getting frazzled and always checking off the to-do list in order. The vast majority of people, however, struggle to effectively manage competing interests and relationships. They often feel like they are drowning and spend their days treading water just waiting for someone to rescue them. In workplace, this “busyness” can have disastrous effects on the bottom line. At our upcoming Lunch n Learn, Lisa Payne will share the #1 success strategy for big results.

Date: Time: Cost: Location:

Tuesday, March 17 4:30 - 6:30 p.m.

Included as a benefit of your membership Fairfield Inn & Suites by Marriott St. John’s

Networking How to Build Your Network

Wednesday, April 1 12 - 2:00 p.m.

Member $35 +HST Non-member $45 +HST The Guv’nor

St. John’s Board of Trade 101

Networking is an important part of planning for you and your business’s future. This interactive luncheon, lead

by Dan Dillon, will help you maintain your business and professional network.

Date: Time: Cost: Location:

Date: Time: Cost: Location:

Join us for a detailed orientation and refresher on how to get the most out of your membership. Learn about our affinity programs, networking opportunities, our advocacy work, sponsorships, volunteer opportunities and so much more.

Thursday, March 19 12:00 - 2:00 p.m.

Member $35 +HST Non-member $45 +HST Bally Haly Golf & Country Club

Date: Time: Cost: Location:

Friday, April 3 9 - 10 a.m.

Benefit of Membership Board of Trade Office, 34 Harvey Rd., 3rd Floor

Memorial University: Collaborating for Success If it were a municipality, Memorial, and its 24,000 students, faculty and staff would be the province’s fourth largest town. And, as the only university in the province, it takes seriously its responsibility as a key contributor to the economic, social and cultural development of this great province. Part of that responsibility lies in ensuring the activities of the university align with the province’s needs. Memorial attracts highly qualified people who come to learn, teach, and grow. And, it gives them a reason to stay and thrive. Join Dr. Gary Kachanoski, president and vice-chancellor, to hear more about the university’s current impact, and the role it will play in meeting the challenges and opportunities of this province’s future growth.

Date: Time: Cost: Location:

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Wednesday, March 25 Networking: 12:30 p.m. Luncheon: 1:00 p.m.

Member $45 +HST Non-member $90 +HST Comfort Inn Airport

Business NewS March / April 2015

LUNCHEON

Working Together: The Potential of Public Private Partnerships

Come hear Clint Davis, Chair of the Nunatsiavut Group of Companies and Vice President of Aboriginal Banking for TD, as he discusses Aboriginal Business and why it’s important for the province.

Date: Time: Cost: Location:

Join us for a morning of conversation, learning and engagement with keynote speaker Timothy John Murphy, lawyer with McMillan and a recognized leader in structuring effective P3 arrangements.

Wednesday, April 15 Networking: 12:30 p.m. Luncheon: 1 p.m.

Member $45 +HST Non-member $90 +HST Comfort Hotel Airport

• • • •

Protecting the public’s interest Generating value for money for the taxpayer Producing quality public services and assets Structuring effective partnerships

Date: Wednesday, April 29 Time: Registration: 8:30 a.m. Session: 9 - 11:30 a.m.

Cost: TBC Location: Sherton Hotel Newfoundland

Business Mixer Come join The Suncor Energy Fluvarium during its 25th anniversary year for an evening of networking, food and fun. A public centre for environmental excellence, run by The Quidi Vidi/Rennie’s River Development Foundation, stop by to learn more about what they do and what they have to offer.

Date: Time: Cost: Location:

Learn about:

Featured sponsor of the month Referral Rewards Program

Thursday, April 23 4:30 - 6:30 p.m.

Included as a benefit of your membership The Suncor Energy Fluvarium 726-2961 | mail@bot.nf.ca

Business NewS March / April 2015

Refer a member by April 30 and receive a free lift ticket from Marble Mountain

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What Are We Building?

by Beth Johnstone

Even as young children there is an inherent desire to create and build. Although the materials, planning and skill required in the real life construction industry are all far more advanced then it was when we were playing with Lego® as kids, the sense of satisfaction and pride when it’s finished is much the same.

In Newfoundland and Labrador we’ve experienced an unprecedented level of activity, both through public infrastructure and private construction projects. We’re used to seeing cycles of wax and wane, and the downturn in the economy may impact the level of construction activity in the short term. But we’ll continue to build

roads, bridges, sewer systems, offshore oil platforms, hydro electric dams, mines, hospitals, schools, homes, office towers, and shopping malls. But there’s something else that we’re building. In addition to these tangible things, we’re building a safety culture.

from an occupational health and safety perspective. In fact, among all industries in Newfoundland and Labrador during the period 2001 to 2011 the construction industry showed the most improvement, in terms of the percentage change in losttime injury rate1.

A building can be powerful, add local value, and equal its intended purpose. Or it can be structurally unsound, a blot on the landscape and fail in function. A safety culture is much the same. We assume that a safety culture will be positive, but whether it develops as positive or negative depends largely on the mix of materials, skill, environment, planning, leadership and oversight – the very same ingredients that can make or break any construction project.

NLCSA and other qualified organizations have trained and guided thousands of construction companies, managers, supervisors and workers in developing and implementing safe work practices and procedures, and in shaping positive safety cultures. But just like the best constructed buildings, roads, bridges and sewer systems, positive safety cultures require systematic checks and balances, maintenance, and sometimes modification.

The idea of a safety culture within our province’s construction industry is relatively new.

In fact, it was only 20 years, ago on February 23, 1995, that the Construction Industry Forum took place.

The forum was the initial meeting of stakeholders to discuss the need for drastically improved safety measures within the construction industry and the prospect of forming a construction safety association. The resulting Newfoundland and Labrador Construction Safety Association (NLCSA) was formed in 1996 as the industry-driven leader and since then the scene has improved dramatically,

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BEST MEETING FACILITIES

Call Craig Murphy 737-7883 craig.murphy@geocentre.ca

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Business NewS March / April 2015

Consider your safety culture as though it were a bridge. Does it span a gap to help your workers get to their destination more efficiently, safely and reliably?

Does it have the strength to withstand the forces of nature, and can it adapt to environmental changes? Do the workers understand and respect the bridge for what it is and that it contributes to the quality of their work life? Is there anyone overseeing it over time who has the skill and knowledge required to rally the team for the good when the structure weakens and to lead the reinforcement? If you answered yes to these questions, chances are you have a strong foundation and are building a positive safety culture. If, on the other hand, you answered no, your safety culture may offer little more than a false sense of security, or even worse. To continue the bridge analogy, a little rot in a wooden span bridge could lead to ruin and suffering if not repaired. Stay on top by building a positive safety culture so that your bridge doesn’t come tumbling down.

NLCSA, the Workplace Health, Safety and Compensation Commission and other professional OHS providers are available to help.

Beth Johnstone is Marketing Manager for the Newfoundland and Labrador Safety Construction Association. She can be reached at : 709 739 7000 Ext: 209 Toll Free: 1 888 681 SAFE (7233) , bjohnstone@nlcsa.com , www.nlcsa.com 1 Source - re the LTI percentage change by industry: WHSCC

BOARD’S PRIORITIES FOR THE 2015 PROVINCIAL BUDGET

RECOMMENDATIONS

The St. John’s Board of Trade is committed to helping business succeed. A strong, vibrant private sector is critical for Newfoundland and Labrador’s future. In order to ensure we have a strong private sector into the future the Government of Newfoundland and Labrador needs to get its fiscal house in order, so that it can invest in critical infrastructure, efficiently run its operations and keep taxes at rates that encourage investment and consumer spending.

The St. John’s Board of Trade recommends that Government reduce spending. We suggest focusing first on health care as it accounts for approximately 40 per cent of our expenses. Government should seek advice from a third party to review and find out why we pay so much more per capita and make recommendations to become more efficient with a plan to implement. This, coupled with the government’s own internal review on primary health care can help bring about a more robust solution to rising costs and expenditures.

Recommendation #1

Recently the Auditor General stated that government has to carefully consider the degree to which it relies on oil royalties as a source to fund programs and service in the future. The Board echoes this statement and we encourage the provincial government to be conservative when forecasting oil prices.

COURAGE AND LEADERSHIP IS REQUIRED Political courage and leadership is necessary to solve the current fiscal challenges facing Newfoundlanders and Labradorians in the upcoming budget. We ask the provincial government to reduce spending and invest strategically.

We caution government that raising taxes could have an impact on consumer spending and business investment. The St. John’s Board of Trade suggest that tax rates should complement an effective and efficiently run government.

Recommendation #2 The St. John’s Board of Trade cautions government of the impacts of raising taxes and recommends that tax rates should complement an effective and efficiently run government. If the government chooses to increase tax rates the St. John’s Board of Trade recommends:

• •

that it be a last resort measure; and that the increases be rolled back once finances have stabilized.

Recommendation # 3 The St. John‘s Board of Trade recommends that Government realign resources to grow a talented working population and to make population growth a priority.

The Board of Trade regularly meets with government officials to discuss issues that impact business. The province’s large debt, the need for government to get its spending under control and the impact potential tax increases could have on business were on the agenda when executive members recently met with Premier Paul Davis and Finance Minister Ross Wiseman.

Business NewS March / April 2015

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Offers available for a limited time and subject to change without notice. *Taxes extra. Roam Like Home daily fee is a Pay-Per-Use rate and is subject to change without notice. Fee is charged per line (in addition to your Share Everything for Business Plan monthly service fee) and applies for 24 hours from first use while in the U.S. See rogers.com/terms for full terms and conditions. 1 Data: Usage exceeding your plan allotment charged in increments rounded up to the next MB or GB (as applicable based on your plan). Standard roaming charges apply when outside Canada/U.S. Texts: Includes texts while in the U.S. to a Canadian/U.S. wireless number.

Sent/received premium texts, sent international texts outside the U.S. and messages sent while roaming outside of U.S. not included and charged at applicable rates. Calls: While in the U.S., includes unlimited calls within the U.S. or back to Canada. International long distance and roaming charges outside the U.S. extra. © 2015 Rogers Communications.

MEmber BenefitS Accredited nationally with distinction, the St. John’s Board of Trade is a non-partisan, business advocacy organization that is the principal voice of business for 900 members in the St. John’s area. Our mission is to improve the local business climate and enhance members’ ability to do business through advocacy and member services.

Check out some of the privileges, benefits and discounts available to you.

Esso Business & Fleet Card program

Quantum RBS Inc. Cloud – Backup and Recovery

Members of the St. John’s Board of Trade receive a $0.035 per litre fuel discount off the retail posted pump price purchased in Canada at ESSO-branded service stations.

Secure Managed Offsite Cloud Backup and Recovery. Protect your data assets with the most dependable , affordable online solution available.

Chambers of Commerce Group Insurance Plan

UPS

Through Board of Trade membership, you can access the Chambers of Commerce Group Insurance Plan. Designed with small business in mind, this program offers insurance benefits at premiere rates normally secured by larger corporations. Small businesses can obtain extended health benefits, regular dental, life insurance, and accidental death and dismemberment coverage, all at highly competitive rates.

Take advantage of some of the most competitive rates available on shipping services with the UPS Members Benefit Program.

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Trim:11”

Safety:10.75”

Chambers of Commerce Group RRSP program St. John’s Board of Trade membership provides access to the Chambers of Commerce Group RRSP program. There are no administrative or annual fees, no minimum number of employees required and no company minimum annual investment required.

Employer contribution limits start as low as $50 a month. This nationally pooled program is tailor-made for small business, providing access to Group RRSPs that are normally reserved for larger corporations.

First Call For just pennies per employee per day, members can have access to full scale Human Resource services and expertise, including legal consultation.

First Data The St. John’s Board of Trade has partnered with First Data Canada, a leader in the payments industry, to help your business Sell More and Save More. All member are provided exclusive low rates on merchant services, low credit and debit card processing costs, e-commerce tools, mobile payment apps, and a user-friendly online reporting tool to support and grow your business.

Johnson Preferred Canadian Chamber of Commerce members and their employees can take advantage of Johnson Inc.’s Preferred Service Home and Auto and MEDOC® Travel Insurance Plans.

Small Package Services:

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30% off shipments within Canada, 30% off shipments to the U.S., 30% off shipments to worldwide destinations, 25% off imports into Canada

Freight Services: savings start at 75% off on heavyweight

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20% off brokerage entry preparation fees, 10% off printing, packaging, mailbox rentals

Promote your business to our members As a member of the St. John’s Board of Trade there are many ways to promote and showcase your business. These opportunities can help develop your personal and professional growth. Network with fellow Board of Trade members, share your expertise at a lunch ‘n’ learn, advertise in our monthly publication, Business News magazine, or become a Board of Trade sponsor.

Here are some ways to promote your business:

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Become a presenting partner at a luncheon

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Take part in our business mixers, or host one yourself

Submit a guest editorial in Business News magazine Become a Board of Trade Ambassador Consider showcasing your business on the cover of Business News magazine or including an advertisement or insert Participate in our annual Business Show

Whether your budget is big or small, we have an opportunity for you to promote your business. To learn more about these exciting opportunities contact at 726-2961 or email mail@bot.nf.ca.

Business NewS March / April 2015

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The Evolving Landscape

by Nikki Poole

This time in 2016, KMK Capital Group of Companies will occupy a brand new office building in the Field Farm Power Centre, which only five years ago was a farm field.

If you drive there today, you will see a flurry of activity which includes office construction, big box retailers, local businesses and national restaurants. In speaking of Hebron Way and acquainting people to the location, Harvey’s tends to be the landmark, as they were the first to enter the power centre in 2013.

In a year from now, there will be over 100,000 square feet of office space built and many additions to the services in the area. Commuting to and from work will be easier with quick access to the Trans-Canada Highway and soon to be connection between Hebron Way and Major’s Path.

What does that mean to our city? As our business landscape grows and companies

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are moving, relocating and opening offices in St. John’s, we now have a mix of options and areas to discover. There is an opportunity for offices in areas that previously would have been retail driven.

Business exposure is important to many companies, and having a presence in a high traffic area is beneficial from a branding perspective. Companies can now move into centres that provide services for their staff, including child care, health services and gym facilities.

People chose their homes based on services in the area, perhaps the office landscape is entering that realm. Loving where you work is important, but how great is it to love the location of your workplace?

Business NewS March / April 2015

Nikki Poole is a licensed Re/Max Plus Realty Commercial Sales and Leasing Consultant with KMK Capital Group of Companies, specializing in office and retail leasing.

Visit teamcapitalnl.ca for leasing opportunities or call Nikki Poole at 709-765-6035

Connecting Happy Valley Goose Bay & St John’s

St. John’s Mayor Dennis O’Keefe and Jamie Snook, Mayor of Happy Valley-Goose Bay, sign a letter of intent between the two municipalities.

Newfoundland’s largest city and one of Labrador’s most vibrant towns have taken momentous steps towards developing a partnership that will ensure opportunities for both St John’s and Happy Valley-Goose Bay for many years to come.

On January 27, St. John’s Mayor Dennis O’Keefe and Mayor Jamie Snook of the Town of Happy Valley-Goose Bay signed a letter of intent for both municipalities to explore future opportunities and projects.

“The signing of the letter of intent is the beginning of a mutually beneficial relationship between our city and the Town of Happy Valley-Goose Bay,” said Mayor O’Keefe. “We look forward to collaborating on initiatives to take advantage of opportunities across a range of sectors.”

By signing the letter of intent the City of St. John’s and the Town of Happy Valley Goose Bay will advance projects and initiatives in support of economic development objectives. The initial areas of interest relate to the mining, petroleum and ocean industries.

“On behalf of the residents and businesses of Happy Valley-Goose Bay, I am very excited about this new partnership with the City of St. John’s,” said Mayor Snook. “I can see how working together will benefit the local economy and our community as a whole.”

Business NewS March / April 2015

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CNA research centre makes waves on Parliament Hill “It was a tremendous opportunity to provide federal dignitaries with an understanding of the advances our centre has made in the renewable energy sector, and to also speak about what we have in store over the coming years as we continue to break new ground,” said Dr. Graham.

“We have been working on this project for a number of years and we are constantly discovering new and exciting possibilities for wave powered technology.”

College of the North Atlantic`s Wave Energy Research Centre researchers, Leon Fiander and Dr. Michael Graham (third and fourth from left), pose with their fellow presenters and Senator Kevin K. Ogilvie, the Honourable Ed Holder, Minister of Science & Technology, and NSERC President, Mario Pinto in Ottawa.

Senior researchers from six projects across Canada were invited by NSERC and Senator Kelvin K. Ogilvie, Chair of the Social Affairs, Science and Technology Senate Committee, to informally share their work with decision-makers on Parliament Hill.

College of the North Atlantic’s Wave Energy Research Centre (WERC) was one of six research projects highlighted during a presentation to more than 50 federal ministers and dignitaries on Parliament Hill in February.

The event was the fifth in a series of successful gatherings organized by the Natural Sciences and Engineering Research Council of Canada (NSERC), a major funder of all six projects. Senior researchers from across Canada were invited by NSERC

and Senator Kelvin K. Ogilvie, Chair of the Social Affairs, Science and Technology Senate Committee, to informally share their work with decision-makers.

WERC Project Administrator, Dr. Michael Graham, and CNA biology instructor and co-researcher, Leon Fiander, made the trek to Ottawa to provide the parliamentarians with a history and overview of the facility, located in Lord’s Cove on the province’s Burin Peninsula.

Lord’s Cove is home to some of the largest shore-bound waves and storm surges that the island of Newfoundland witnesses each year. A unique combination of geography in the surrounding area and technological capability at the nearby Burin campus means the location is the ‘perfect storm’ for wave energy research.

The five-year project is focusing on developing an economical wave powered pump to deliver sea water to an on-shore aquaculture farm, and on developing the methods and technology necessary for land-based multi-trophic aquaculture farming (species of different levels of the same food chain working together to sustain an aquaculture environment).

“We are so pleased this research has been showcased on a national level” said CNA President and CEO Ann Marie Vaughan.

“Harnessing the power of the ocean to produce a clean, natural and renewable energy source for the development of onshore aquaculture farms is something that will become a reality in the not too distant future. There are also numerous applications for wave powered energy – and the centre realizes the immense potential this poses to various sectors.”

To support the research, significant work has been done at the WERC site in Lord’s Cove, including building and wharf renovations, installation of piping, and data acquisition and telecommunications equipment.

To learn more about what the Wave Energy Research Centre is doing, visit their Facebook page for video and additional information, or visit www.cna.nl.ca and click Research & Innovation.

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Business NewS March / April 2015

AN EMERGING IRON ORE LEADER IN CANADA

The World of Tata Steel is one without boundaries – growing, changing, challenging every day. A world that embraces different skills, continuous innovation, financial investment, responsible use of natural resources. And, above all, there is the enduring commitment of giving back to society that helps make the vision of sustainable growth a reality.

Tata Steel Minerals Canada Limited (TSMC) is a joint venture established in October 2010 by Tata Steel Ltd. and New Millennium Iron Corp.(TSX: NML). TSMC is part of Tata Steel Group of companies which is a Fortune 500 company and is among the top ten global steel companies in the world. The Tata Steel Group is the world’s second most geographically diversified steel producer having over 80,000 employees spread across five continents. Tata Steel has operations in 26 countries and commercial presence in over 50 countries with a group turn-over of USD 24.8 Billion (FY14). TSMC is developing iron ore deposits in Quebec and Newfoundland & Labrador in Canada.

DSO Project TSMC is developing the Direct Shipping Ore (DSO) project which involves mining, crushing, washing, screening and shipping the sinter fines and pellet fines to Tata Steel’s European steel making facilities and other customers in global markets.

• •

• • •

Resources: The DSO property comprises of 25 hematite deposits with a resource potential of 125 Million Tons.

Operations: The project comprises of mining and concentrating the run-of-mine ore with a state of the art processing facility to produce 4.2 MTPA of sinter and super fines with high quality iron ore content . Additional production of 1.8 MTPA is through dry processing.

Support Infrastructure: TSMC operates a well equipped Camp, Cafeteria and Fly-in-Fly-out operations.

Employees: At steady state operation, TSMC will employ ~250 people.

IBAs with First Nations: Impact & Benefit Agreements / Co-operation Agreements have been concluded with Five First Nation Communities.

215 Water Street, Atlantic Place, Suite 809, Box 10 St. John’s, NL A1C 6C9 Phone: +1-709-722-5714 Fax: +1-709-722-4298 Email: info@tatasteelcanada.com Web: www.tatasteelcanada.com

A WORKPLACE THAT WORKS. It’s about transformation, not just a move.

Our firm has completely rethought the way we work.

Our national real estate project has created an outstanding experience - for our people and our clients - through dynamic and collaborative workplaces that fundamentally change how we interact with each other. At Deloitte, we are committed to the idea that professionals of the future need a workplace of the future.

“We’ve worked diligently over the last few months to make the move to our new home a success. I hope you are as excited as I am to learn more about our innovative new workplace, which was designed to meet our unique needs and support the way we are working today” – Brian Groves, Marketplace Leader, NL

A differentiated workplace. A differentiated experience.

We believe in the power of collaboration and inclusion. Our new offices have helped drive performance through collaboration, which has created a better flow of ideas, diversity of thought and perspectives. It all adds up to a differentiated experience. Our new offices are built to deliberately foster collaboration, not just hope that it happens.

Our new workplace design encourages our people to build relationships and share ideas across teams and functions to foster an inclusive culture that drives performance. With offices that are as flexible as our people are, we have built a workplace that embodies our vision and values and showcases our people and their passion for innovation. With the transformation of our workplace, we have also transformed our client experience.

We have created an experience for our clients – a place for them to collaborate with us and take advantage of the power of Deloitte in growing their own organization.

More than just open-concept. It’s about lasting connections.

Our new workplaces have been much more than an open-concept office. It is an agile work environment that encourages people to make connections that strengthen our ability to win in the market.

Many of our offices will cater to a wide range of work styles with valuable amenities such as quiet spaces, team collaboration hubs, wellness rooms and high standards of environmental sustainability and inclusion.

Our new workplace will also allow our people to choose the type of space they require for the type of work they have to do. It just makes sense.

For more information on how Deloitte can help you, please contact: 16

Brian Groves, Partner, Audit | bgroves@deloitte.ca | (709) 758-5225 Business NewS March / April 2015

Restorations versus replacements

by Vincent C. Estick

In the world of real estate, whether it’s dealing with closing costs, finding your client the right home or trying to win a bidding war over a property, the idea of renovations can seem like one more headache. Most renovations can get quite expensive very quickly. What looks like a few things to fix up can quickly escalate and where does that leave you? What about your clients?

Often times, it leads to more renovations and higher bills. Replacing damaged items has the upside of getting something new but nothing is for free. This certainly takes all the fun out of looking for a new home or fixing up an older one… making your job harder.

So what can you do about it?

Saving money isn’t as hard as you may think. For starters, you could make the most out of existing furniture and fixtures by simply restoring them. By using the materials you already have, you’ll not only spend less, you’ll actually get the design you want.

During the restoration process, you can target the items that need the most attention. This lets you change colours, stains, patterns and ultimately breathes new life into old materials for much less than it would cost to replace them. That’s why there are so many home restoration shows out there on TV. Restoration is the best way to improve a house and make

custom modifications. This lets you pick and choose what to improve without the added expense of buying it brand new.

Consider the savings in making old things new again.

Your clients don’t like their current wood flooring? Touch up wooden surfaces like oak treads, staircases or even flooring to change their minds about a home. With the help of a wood restoration expert, you can drastically reshape the look and feel of any home.

How about cabinet refacing in the kitchen, bathroom or pantry? These too can be brought back to life to help entice new buyers or close the sale for your sellers.

Just think how nice it would be to improve a property by restoring the wood already in place there. It can make a big difference in the aesthetics of the house.

Another problem too is when movers, contractors and other visitors scuff up and scrape wood surfaces and furniture. This may happen during a previous project or even during an evening with friends. No matter how old or accidental these markings may be, selling a home is easier when things look their best. You could save some money by calling in a wood restoration specialist to fill in and eliminate any blemishes. Most times these are quite easy to repair and can be done right on site.

Business NewS March / April 2015

The bottom line is simple. The right professional can make things a lot easier for everyone involved. Whether it’s creating custom staining for a contractor or restoring a damaged floor, restoration can save you time, money and go a long way in keeping your clients happy.

To learn more about how you can save with restoration, I encourage you to contact your local wood repair and restoration expert.

And don’t be afraid to ask about the details of how you can save. Making educated decisions about renovations and restorations makes all the difference in your budget.

Vincent C. Estick is the General Manager of Furniture Medic St. John’s. He can be reached by phone at 709.697.0343 or email vcestick@furnituremedicnl.com

17

Executives & educators honoured for their support to reservists

The Honourable Frank F. Fagan, the Lieutenant Governor of Newfoundland and Labrador, and Rear Admiral Jennifer Bennett, Chief Reserves and Cadets, recently presented the 11th Biennial Provincial Awards to 15 provincial organizations in appreciation of their support to Canada’s Reserve Force and Cadet Instructor Cadre, with another award to be presented at a later date. Several of the businesses recognized are members of the St. John’s Board of Trade.

Held every two years, the Canadian Forces Liaison Council Supporter Awards recognize employers and education institutions that have shown support towards their employees or students who also serve as reservists in the Canadian Armed Forces. Official awards ceremonies are a means of recognizing supportive employers, who are nominated by individual reservist employees.

“I am delighted with the support shown to our reservists in Newfoundland and Labrador by local employers and educators,” said Rear Admiral Bennett.

“Reservists in Newfoundland and Labrador are very active at home and abroad.

Without the strong support from their employers and teachers, they would not be able to complete the tasks they are asked to do, and maintain a healthy balance of civilian and military commitments. I am very grateful for this support and as the Chief of Reserves I am very pleased to be able to thank them personally.”

The Canadian Forces Liaison Council is comprised of a group of civilian business leaders and educators who volunteer their time and efforts to promote the primary

18

reserve Force – Canada’s part-time military – by highlighting the benefits of reserve force training and experience in the civilian workplace. Its mandate is to enhance the availability of reservists for military duty by obtaining the support and cooperation of organizational leaders in Canada. The CFLC’s vision is that all organizational leaders in Canada will actively support reservists.

“The training reservists receive and the experiences they gain on operations contribute to our society and economy,” said William Mahoney, Newfoundland and Labrador Provincial Chair, Canadian Forces Liaison Council. “Reservists enhance and improve their workplaces and classrooms. Support for reservists is strong in Newfoundland and Labrador and events like this are a way to thank employers and educators for their ongoing support for service.”

List of Award Recipients and Citations

• •

Support to Canada’s Reserve Force, General Electric Canada

• • •

Support to Canadian Forces Operations: Domestic, Schlumberger Canada

•

Best Practices in Employer Support: Educational Institution, Newfoundland and Labrador English School District

•

Best Practices in Employer Support: Large Organization, Labatt Breweries of Canada, St. John’s Plant

• • •

Best Practices in Employer Support: Small Organization, Building Solutions

•

Best Practices in Employer Support: Government, Service NL, Provincial Government of Newfoundland Labrador

• • • • •

Support to Cadet Instructor Cadre (to be presented at a later date), DJ Composites, Inc.

Support to Canadian Forces Operations: International (Private Sector), Provincial Aerospace Ltd

Best Practices in Employer Support: Business and Retail, Sobeys Inc. Best Practices in Employer Support: Educational Institution, Fisheries and Marine Institute, Memorial University

Best Practices in Employer Support: Private Sector, Bell Aliant Best Practices in Employer Support: Public Sector, Office of the High Sheriff, Department of Justice and Public Safety, Government of Newfoundland and Labrador

Support to Cadet Instructor Cadre, West End Electronics Support to Operational Readiness, Kiewit-Kvaerner Contractors (KKC) Award of Excellence: Support to Student Reservists, College of the North Atlantic Best Practices in Employer Support: Emergency Services, Royal Newfoundland Constabulary.

Business NewS March / April 2015

Board of Trade Releases Economic Outlook, Member Survey Approximately 80 per cent of business owners describe local economic conditions as good or excellent in an economic outlook and member survey conducted by the St. John’s Board of Trade. Looking at the year ahead, of the members who completed the survey in January, 55 per cent feel competition will be biggest challenge for business owners in 2015.

“Despite the economic uncertainty caused by the drop in the price of oil in recent months and demographic challenges facing the province, our members remain cautiously optimistic heading into 2015,” says Kim Keating, Chair of the St. John’s Board of Trade. “Information from the survey gives us a sense of the business climate in the city and the province, which defines the needs of members and guides our advocacy work for the coming year.”

Other survey highlights include:

•

88 per cent of businesses report their company’s financial position in 2014 was about the same or better than 2013;

•

75 per cent of businesses say their gross revenue for 2014 was about the same or better than the previous year 2013;

•

55 per cent of businesses believe that competition is a factor that could hinder growth in 2015;

•

40 per cent of businesses feel immigration is an important means of meeting future labour requirements;

•

58 per cent of businesses believe that Newfoundland and Labrador needs an international recruitment strategy.

More than 100 businesses from various sectors completed this year’s survey.

Results can be found online at: http:// stjohnsbot.ca/economic-outlook-andmember-survey-released/.

Accredited nationally with distinction, the St. John’s Board of Trade is a non-partisan, business advocacy organization that is the principal voice of business for 900 members in the St. John’s area.

Its mission is to improve the local business climate, enhancing its members’ ability to do business through advocacy and member services. http://stjohnsbot.ca/.

Leadership matters.

Glenn Barnes, Managing Principal, is pleased to introduce a new leadership team at Architecture49 including Architects Paula Pittman, Peter Jackson and Tina Birmingham. Along with a full complement of professional and support staff, the four are enthusiastic about evolving the office and continuing to work with our valued customers throughout Newfoundland and Labrador.

Architecture49 is a national leader in the integrated design and delivery of Canada’s most important buildings and environments. The St. John’s office has grown out of the legacy of AE Consultants and will continue to provide architectural services in a regionally responsive manner. Along with ve other inuential architectural practices across the country, we have rebranded and strengthened our operating model to also bring a nationally informed perspective to all projects.

We are proud to mark this point in our history with the launch of a new identity. With a focus on innovative design and comprehensive service delivery, Architecture49 will maintain our strategic business partnership with WSP to offer our clients a full range of professional consulting services for the built environment.

NATIONAL SECTORS: Healthcare Hospitality Science & Technology Security & Defence Sports & Entertainment Transportation

REGIONAL SPECIALIZATIONS: Healthcare Education Commercial Fire Stations Civic Centres Multi-Family Residential

Architecture49 Inc. & WSP Canada Inc. 341 Freshwater Rd., Suite 202 PO Box 13156, St. John’s, NL A1B 4A4 T. 709-726-1342 F. 709-726-1349 www.architecture49.com

Business NewS March / April 2015

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CHAIR’s Inauguration Photo gallery

Des Whelan was sworn in as Senior Vice Chair by Mayor O’Keefe.

A large number of Board of Trade members attended the Chair’s Inauguration event at the Holiday Inn. 2015 Chair Kim Keating jokes with St. John’s Mayor Dennis O’Keefe during the swearing-in ceremony.

Kim Keating addresses the crowd.

Present

Attentive

When you need us, we’re already on it.

TRAMPOLINE BRANDING

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Contact: Larry Bootland 902 405 4809 Project: 11723C&P NL Board of Trade Ad Client: Cox & Palmer Publication: Board of Trade Magazine

The mother of three with youngest daughter Madeline.

Business NewS March / April 2015

Des Whelan, centre, with Board of Trade Director Craig Ennis and Lori Anne Companion, Deputy Minister with the Department of Transportation and Works.

2015 Chair Kim Keating thanks outgoing Chair Sharon Horan.

From left, Extraordinary Women’s Susan Sparkes, Board of Trade Director Kim Paddon, and Simon Penney of Noseworthy Chapman Chartered Accountants.

Business NewS March / April 2015

21

We work for the best: our clients. mcinnescooper.com

Is commissioning key to controlling offshore project Costs?

by Geoff Young and Trond Bendiksen

Despite this, we discovered that the commissioning phase is among the most overlooked, neglected areas in offshore project management.

We believe that addressing this oversight can greatly reduce the risk of significant project delays and cost overruns. Our research indicates that 80 to 90 per cent of the risks that all too often materialize during completion and commissioning can be prevented. Why? Because in most cases these risks are generic risks that can - and should - be dealt with at a structural level from the outset.

We found a number of common generic risks involved in offshore project delays and cost overruns.

These are a good starting point for any firm that wants to improve their ability to bring projects in on time and on budget:

An astonishing 65 to 70 per cent of mega projects worldwide suffer from significant delays and often spectacular cost overruns. It’s a trend that’s plagued the oil and gas sector for decades, and one that seems unstoppable. Or is it?

Conventional wisdom holds that delays in meeting major project milestones—such as sailaway from module yards, module lift at integration sites, offshore laying work—are chiefly responsible for major project delays and cost overruns. It’s a logical assumption, but it’s the wrong one to make.

According to research by Credit Suisse and Independent Project Analysis, Inc., non-technical issues are responsible for the majority of oil and gas cost overruns. Sixty-five per cent of project failures were rooted in people, organization or governance issues; 21 per cent were due to management contracting or procurement matters; and 14 per cent were because of government interventions or environmental mandates.

• • • • • • • • •

Not “keeping the end in mind” in project plans and project management processes Project management teams whose experience is primarily construction-based A lack of front-end loading and early involvement of Commissioning and Operations Not enough focus on “commission-ability” of early designs Old-fashioned organizational structures and completion processes (i.e., the ‘silo effect’) Poor completion estimating foundation Ultimate KPIs (such as handovers to Operations) that aren’t visible in integrated project plans A lack of continuous risk identification and mitigation in project planning and project execution Little or no application of completion risk registers to prevent changes and scope, schedule and budget overruns.

Addressing these and similar generic risks - and ensuring that project managers give the commissioning phase the attention it deserves - can help firms reduce the likelihood of derailed project plans and ballooning costs. As the saying goes, if you take care of the small things, the big things take care of themselves.

Deloitte’s Canadian Energy & Resources practice works with the majority of Atlantic Canadian large firms in power, oil, gas and mining. Deloitte has recently completed several studies focused on Atlantic Canadian natural resource development including topics on Shale Gas, Energy East Pipeline, Atlantic LNG Exporting, Energy Hubs and Economic Strategy for the Resource Sector.

For more information, please contact: Geoff Davis, Managing Director, Consulting geodavis@deloitte.ca | (709) 758-5155

Deloitte’s own research into offshore projects worldwide has found that what drives project delays and soaring budgets are a host of dayto-day issues, large and small, that occur during commissioning and completion.

Traditionally, commissioning has been regarded - by project managers, contractors and operating organizations alike - simply as the activity that takes place just before Operations assumes control of systems for startup.

Yet our investigation clearly shows that this commissioning phase is typically where the potential for delays and cost overruns is highest. It’s at this stage where design flaws and construction errors are discovered, and it’s also where changes and modifications become enormously expensive and time-consuming.

Business NewS March / April 2015

23

Price it Right to Obtain the Highest Value Ask a designated real estate appraiser for help

Recent statistics provided by CMHC have shown that a mere 11 per cent (2014 average) of all listings that were offered to the market in the greater St. John’s area had an accepted offer in place within the initial listing period (typically 90 days).

This number is in comparison to 2008, when the amount was 32 per cent within the initial listing period. The number of sales per listings has been steadily falling since 2008.

The main reason for the substantial reduction in sales per listings is the inflated expectations of what vendors believe their property is worth. If a property is overpriced to the market, the seller typically receives less than its market value. For example, if a property is listed for sale at $329,000 and its true market value is $300,000 then the owner has missed the target market and thus can expect to receive less than market value.

The best way to ensure a property is appropriately priced is to have an independent qualified real estate appraisal report completed before the property is offered for sale.

Municipal Tax Appeals – 2015 is an important year to act The coming year is critical for all rate payers, owners and tenants, to have their notices of assessments professionally reviewed. This year’s notices will set the

assessed value for properties you own or occupy for the 2016, 2017 and 2018 tax years. Assessment appeals made this year can affect the amount of tax payable in three future tax years. Consequently, all rate payers should be sure to have their assessment notices professionally reviewed by a qualified real estate appraiser/advisor.

The notices are anticipated to be mailed during the second half of 2015 and include a 30- day appeal deadline.

Have your assessed value reviewed The assessed value for tax year 2016 will be based, in most cases, on the estimated market value of the property as of January 1, 2014. As most property market values have increased since the last base date, ratepayers can expect their assessed values to increase. The key questions to ask are:

1. Is the value assigned to my property

Michael Kirkland, BBA, AACI, P. App. has been an accredited real estate appraiser/ advisor since 2001.

2. Is the value assigned fair when

He is a partner in the company Kirkland, Balsom and Associates, www.kba.ca, a part of the Atlantic Realty Advisors group.

above market value as of January 1, 2014? compared to similar properties?

Real Estate Advisors & Appraisers

Helping you make better real estate decisions for over 35 years Jerry Kirkland AACI Bill Balsom AACI Mike Kirkland BBA, AACI John Bishop CRA Mike Warr BBA, AIC-Candidate Kim Flood Diane Butt

kba.ca 24

Business NewS March / April 2015

709.738.1000

Members of

ATLANTIC REALTY ADVISORS

www.ara.ca

What are you @?

Notes from the @stjohnsbot twitterverse @MUNBusiness #MUNBusiness dean

@inclusionNL Excellent summit

@NLClassifieds Congrats Jane Noseworthy of @Bally_Haly our @stjohnsbot Winner of @ AukIslandWinery+$500 of advertising!

Give us a call Jane :) #WhatsNextNL

@relnlca Great show! @stjohnsbot

@Wilfred_Zerbe has been elected to the board of directors for @stjohnsbot: http:// ow.ly/I6eo6 @MemorialU

today, Great networking Thanks for everything! @stjohnsbot #whatsnextNL #inclusion4everyone

@oneillyatesCBC Guess who I found

@stjohnsbot trade show? @OnTheGoCBC That Bobblehead Ted sure gets around #cbcnl

@KMKCapital Great panel on development @stjohnsbot #whatsnextnl!

@zahrasays @TomPHickey @stjohnsbot

@tractconsulting expansion of convention center and creativity gives great opportunity.

Thanks Tom, I love hearing that! :)

@goCPAatlantic Thanks to @ stjohnsbot for letting us be a part of yesterday’s 2015 Business Development Summit! #exhibitors #gocpaatl #YYT

@WPH_Law Our friends @AngieBrockie and @lilmissrealtor cutting the ribbon @ the @stjohnsbot 2015 Business Development Summit. @NLChocolateCo @zahrasays had

an incredible story to tell at today’s @ stjohnsbot summit! We are truly inspired.

Thank you!

@TomPHickey Only now getting time

but really enjoyed listening to @zahrasays at @stjohnsbot yesterday. Think I’ll open my cage door a little more :)

Awesome exhibitors at the show #whatsnextNL

@DaveLaneTweets After speaking to @stjohnsbot about our economy, I was put on da TV! @NTVNewsNL http://ntv.ca/stjohns-economic-forum-says-there-is-stillhope-for-future/ …

@LanaCollins1 @stjohnsbot

@TownofCBS Happy to promote

development Initiatives @stjohnsbot with @DaveLaneTweets, Tract Consulting and Martek. #WhatsNextNL

@McCabeMeg St. John’s economic

forum says there is still hope for future http://ntv.ca/st-johns-economic-forumsays-there-is-still-hope-for-future/ … via @ NTVNewsNL @stjohnsbot #nlpoli

@21inc @TheWordSmithX @ stjohnsbot Tx a million for doing a super job at representing @21inc today at the @stjohnsbot Summit. #Awesome21incAlumni

@Cre8ivStudio Look at those smiling faces!! C’mon down to the @stjohnsbot Trade Show and say Hi to Darren and Tina! #WhatsNextNL

Foresight is better than 20/20 hindsight.

It’s important you get the right legal advice at the right time.

To optimize your new contract, think ahead and contact us on day one.

mwhslaw.com | 709.754.1400

An exception in a world of clichés.

Business News march / april 2015

25

Get to know your Board of trade ambassadors Janine Browne

Nicole Tucker

Courtyard by Marriott St. John’s

NPR Commercial Property

What is your favourite moment as an Ambassador?

Give us an example of how being an Ambassador has benefited your business?

My favourite moment as an ambassador so far occurred during a renovation relaunch event at the Courtyard. There was a moment during the very busy evening where I looked around and saw so many ambassadors that were there to support me and the company I represent. This team is always there with an incredible level of dedication and that evening I truly felt relief in their encouragement. This team of professionals has been a pleasure to work with and I look forward to chairing this committee in 2015.

Northern Property has recently acquired the newest office park in St. John’s and being an ambassador has helped generate awareness on Bristol Court during the construction and leasing phase. Through the various networking opportunities that the BOT provides I was able to meet many new people and exchange information about myself and the business I represent.

Laurie Short Cahill Mitch Gilbert

The Telegram

Quidi Vidi Brewery If you could recommend anyone in the world (dead or alive) to be on the Ambassador committee who would it be and why?

If I could recommend anyone in the world to be an ambassador it would be Danny Williams! Who better to actually be a part of the Board of Trade! I mean he’s basically been an ambassador for this city and province for forever! The networking that man could accomplish would be staggering, and you’d know he would look good with the ambassador name badge! The rest of us probably wouldn’t be needed... wait, never mind!

If you could recommend anyone in the world (dead or alive) to be on the Ambassador committee who would it be and why?

Sophia Amoruso hands down! Who is she? She is the founder and former CEO of Nasty Gal (She stepped down in January this year), a business she launched in 2006 at the age of 22, in the basement of her aunt’s house. In only seven years, Amoruso took Nasty Gal from an eBay store reselling vintage finds into an online retail empire. From 2008 to 2011, sales soared 10,160 per cent making Nasty Gal one of the fastest-growing retail companies ever. In 2012, the company reported revenues of over $100 million! She is a true Cinderella story. I would love to have her experience on our team and pick her brain.

Nikki Poole

Susan Power

Re/Max Plus Realty

Higher Talent Inc. What is your favourite moment as an Ambassador?

The Ambassador program of course is beneficial for growing your business, making connections and networking, but as a young professional it is the social connections and genuine friendships within the business community that will grow business in the future. The Ambassador involvement has enabled me to create these friendships. We promote businesses and industries that sit around the Ambassador table without thinking twice. I now feel like I am an Ambassador to a number of businesses in our city, on top of St. John’s Board of Trade. For the above reasons, my favourite moment as an Ambassador was a Friday afternoon Kitchen Party at Quidi Vidi Brewery developing friendships and growing my business.

Russell Brand would be the most amazing ambassador for the St. John’s Board of Trade. His clever quick wit would certainly make for a lively table conversations at board events. I think he would contribute to skyrocketing attendance at BOT events through his controversial style and ability to ask the tough questions, as showcased through his online series “the trews”. I think Russell Brand would add an edge to BOT events that would really appeal to millennials. H is ability to entertain and sense of humour would instantly put members at ease; and he would absolutely fall in love Newfoundland and Labrador!

Julie Greene

Stu Greenoff

m5 Marketing & Communications

Newfoundland Chocolate Company

If you could recommend anyone in the world (dead or alive) to be on the Ambassador committee who would it be and why?

What is your favourite moment as an Ambassador?

Morgan Freeman. He could regale us with stories from his Hollywood career, help us plan with his personal entrepreneurial experiences and he would increase event turnout with only his presence! Not to mention we could prank call people together.

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Give us an example of how being an Ambassador has benefited your business?

I don’t have one favourite moment as an Ambassador as such. My favourite part of being involved with the Board of Trade is being part of an organization that brings together like minded individuals to share ideas and experiences, and is constantly striving to improve the economic climate of the city.

Business NewS March / April 2015

Jarrod Pettipas

Heather Oakley

TD Commercial Banking

Eastern Region Business Solutions | Xerox

What is your favourite moment as an Ambassador?

What is your favourite moment as an Ambassador?

My favourite moment as an Ambassador was participating in (and winning) my first Amazing Race Membership Drive. Lori Brag, Janine Browne and I were recruitment machines that day, signing up close to 10 new members. Lori’s 6 month old daughter Bridgette was along for ride as well. Bridgette was the star of the day, and helped us close more than a few sales!

My favourite moment as an Ambassador was during the Membership Amazing Race Day. I had recently become an Ambassador and hadn’t had the chance to meet many of my other peers. I felt extremely nervous to be walking in as the newbie of the group. But as soon as I came through the door I was welcomed with open arms.

I couldn’t believe how friendly and willing everyone was to get to know me. I knew from that moment on that volunteering with this group was not only going to be beneficial to my career, but I was also making life-long friends as well.

Sherry Butt RE/MAX Infinity Realty Inc.

Alex Gibson Group zed

Give us an example of how being an Ambassador has helped move your business forward?

I believe all the BOT events help to do this. There are always fabulous networking opportunities and opportunities for us to make ourselves known. As Ambassadors, we are always the first to be included in any promotional efforts for various events; we are able to assist with announcements, manning doors, hosting tables at events etc., all of these duties help to raise our profile and keep us as individual and the organizations that we work for top of mind!

Give us an example of how being an Ambassador has benefited your business?

Being an Ambassador has definitely opened doors for me in my role as a Recruiter at Group zed. I’ve met so many new people within the past year, and networking events often provide a much better opportunity to truly to get to know someone. Many of these people all have the potential to be candidates who could be eventually hired on by me (And to be frank I’ve met some tremendous talents this past year).

Kate Jewer Edie Newton

O’Brien’s Whale & Bird Tours

Children’s Wish Foundation

Give us an example of how being an Ambassador has helped move your business forward?

Becoming an Ambassador with the Board of Trade has benefited both O’Brien’s Boat Tours and myself personally. Increasing group tour business through small and large company staff outing events and building business partnerships with other members are two important achievements accomplished during my first year as an Ambassador. Becoming more involved with the board through this volunteer position has given me a better understanding of all that the board does for businesses in our region. Being involved and attending many events throughout the year has given me an opportunity to meet a lot of the business community and during the next year in this role I look forward to meeting many more!

Give us an example of how being an Ambassador has helped move your business forward?

I became an Ambassador of the Board of Trade to enhance the profile of the Children’s Wish Foundation within the business community. Being an Ambassador gives me an opportunity to connect with business professionals and leaders, sharing our stories of hope, joy and healing. I enjoy meeting many wonderful people through the Board of Trade who are in a position to support our mission and to help grant wishes through philanthropic gifts, sponsorship opportunities and employee engagement.

Chris Dunne Prime Creative If you could recommend anyone in the world (dead or alive) to be on the Ambassador committee who would it be and why?

If I could recommend anyone in the world to be an ambassador it would be Richard Branson. For most, they use the company brand is used to propel their personal brand, but Branson is one of few that has such a strong personal brand it propels is business brands. It’s a trait few have been able to achieve and one that reflects what is means to be an influential ambassador.

Business NewS March / April 2015

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Top 10 barriers to competitiveness for 2015 The Canadian Chamber of Commerce has unveiled its Top 10 Barriers to Competitiveness for 2015. The Chamber is calling on its own membership, governments, educators and labour organizations to tackle and overcome these barriers, and improve Canada’s ability to compete in the global economy.

Silos in skills development Canada is not producing enough graduates with the skills needed for its economy,

and there are shortages and high demand forecast in a wide range of occupations.

The Temporary Foreign Worker Program no longer presents an effective path to meet short-term labour shortages. Our education and training systems play a pivotal role in equipping us with people with the right skills, however with a demographic reality about to hit our labour market, we need stronger efforts to coordinate between the silos of education and employers.

Entrepreneurs lack capital for Canada’s fastest growing companies One of the most critical determinants of competitiveness is access to capital, especially for start-ups and companies moving from innovation to commercialization. These fast-growing companies often depend upon venture capital (VC) as the lifeblood needed to take a company from idea to market. Canada’s VC industry is still small. This year the Canadian Chamber will advocate a number of initiatives to boost incentives to expand the overall pool of capital.

Lack of clarity regarding duty to consult with Aboriginal peoples

YOU SEE A COMMERCIAL OPPORTUNITY

Canadian governments have a duty to consult and accommodate Aboriginal peoples when proposed developments have the potential to impact their constitutionally protected rights.

However, governments are increasingly relying on project developers to assume responsibility for large parts of community consultation and accommodation. This has led to situations where proponents have no clear direction on the extent of the consultation and accommodation required.

The Chamber will explore alternatives to the current scenario for resolution of the development consultation process.

WE SEE THE NEED TO MANAGE YOUR RISK

Internal barriers to trade The lack of a single domestic market in Canada is a serious weakness in our economy. Tariff barriers between provinces are banned by the Canadian constitution, yet the national economy is fractured by a host of non-tariff barriers, particularly in procurement, energy, agriculture and transportation, and in the mobility of labour.

The federal government must promote more meaningful sanctions against jurisdictions that practice protectionism against other Canadians while supporting those that embrace free internal trade.

Appraisal Institute of Canada designated appraisers–AACI and CRA–are Canada’s professional real estate appraisers of choice.

Our on-site appraisals, extensive research and detailed analysis provide reliable, in-depth and independent valuations on all property types– helping you make informed real estate decisions.

When property is involved, involve us.

Canada’s tax system is too costly and complex

VALUATIONS APPRAISAL REVIEW CONSULTING FEASIBILITY STUDIES DUE DILIGENCE

Learn more about AIC-designated appraisers by visiting

AICanada.ca/Newfoundland-Labrador

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Newfoundland and Labrador

Business NewS March / April 2015

Canada over-relies on income and profit taxes rather than on taxes on consumption, which are relatively easy to collect and are least harmful to growth. Canada’s tax code is also overly complex and imposes significant compliance costs on businesses

and consumers while governments spend billions of dollars each year administering and enforcing convoluted tax laws. Canada must undertake a comprehensive review of its tax system to reduce the complexity and improve the way it raises tax revenue.

Canada’s export infrastructure is not meeting our needs Public investment in infrastructure has not kept up with Canada’s economic needs.

Bringing infrastructure back to the level needed to support prosperity will require an ongoing commitment by all levels of government, an active engagement with private sector stakeholders and a greater appreciation of the opportunities that exist for Canada to be more competitive through more modern public infrastructure.

more competitive Canada.

Canada is missing out on foreign trade opportunities Canada’s prosperity depends on access to international customers and participation in global supply chains. Faced with a small domestic market, exporting is often the only way to grow sales and build economies of scale. Moreover, sourcing from and investing abroad allows companies to exploit unique technologies, skill sets and

cost advantages. To support the expansion of Canadian companies abroad, the federal government needs to build on recent success and take steps to conclude the next wave of high-quality trade agreements and strengthen our system of trade promotion and economic diplomacy.

For more details go to: http://stjohnsbot. ca/top-10-barriers-to-competitiveness/

Canada is uncompetitive in the world’s tourism sector Canada has slid from the seventh largest tourist destination in the world to the 18th.

Today, it is too often a high-cost, highhassle destination with aging attractions infrastructure and inadequate marketing.

Canada’s travel and tourism sector is critical to its economy, and government must both invest in national marketing initiatives and address an inefficient visa system, the high cost of air travel in Canada and its layers of regulations, fees and taxes.

Innovation rate is not sufficient to help manufacturing rebound The best way for Canadian companies to compete and win in modern manufacturing is through a strong commitment to innovation. Canada is ranked 22nd by the World Economic Forum for its capacity for innovation. Canadian manufacturers will need to invest more aggressively in disruptive technologies. However, the innovation policy framework that exists in Canada is not sufficient to overcome a number of serious barriers for the manufacturing sector.

Territorial businesses don’t have the tools they need The federal government has to decide whether or not to provide territorial businesses with the tools necessary to increase their economic footprint.

The result would be more financial independence for the territories and a

Business NewS March / April 2015

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Esso Business Card Program 3.5 cent per litre discount The Canadian Chamber of Commerce and Imperial Oil are pleased to offer the Esso Business Card Program to all Chamber members and Chamber member employees*.

Each Chamber member or member employee* may enjoy:

 3.5 cents per litre fuel discount off the retail posted pump price purchased in Canada at Esso-branded service station;

 Detailed monthly invoice;  Esso has the largest retail network across Canada with over 1850 locations to serve you;

 Cards restricted to fuel, oil, top-up fluids and car wash;  Personalized identification may be printed on each card and the invoice;

 Esso has the largest car wash network in Canada with over 600 locations;  Speedpass  - the fastest way for your vehicles to fuel up and go at Esso  Esso Extra or Aeroplan Miles – details at EssoBranded service stations.  Tiger Express and On the Run locations throughout Canada with services on site such as Tim Hortons, Royal Bank cash machines and car washes.

To apply, member companies are to complete the attached Esso Business card application and member employees are to complete the attached consumer application. Please fax all applications directly to the program coordinator listed below or go to http://www.essofleetoffers.com/CHAMBER to complete an online application. Please ensure the application(s) are completed in full to assist in the processing.

Richard K. Sauve Imperial Oil P.O. Box 1042 Almonte, ON K0A 1A0

Email address / essofleet@sympatico.ca Phone 613-256-8323

Fax 613-256-5009 * Trademarks of Imperial Oil Limited. Imperial Oil, licensee.

 Trademark of Exxon Mobil Corporation. Imperial Oil, licensee

* Individuals participating in the Canadian Chamber of Commerce employee program must purchase a minimum of 2,000 litres annually

TM

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AROUND THE BOARD

Former Lieutenant Governor John Crosbie turned out to hear the Abacus numbers.

Tim Powers, vice chairman of Summa Strategies and managing director of Abacus Data, and Bruce Anderson, chairman of Abacus Data, shared recent provincial and federal political poll results at a Board of Trade luncheon.

rent

laugh with cur air Steve Power shares a Former Board of Trade Ch is.

Enn ector Craig Chair Kim Keating and Dir

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AROUND THE BOARD

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Our new chair discussed her goals for the year with VOCM’s Fred Hut ton.

2015 Chair Kim Keating opens this year’s Business Development Summit.

Great innovations

come from great challenges Learn more on statoil.com Statoil. The Power of Possible

Kim Keating spoke to ma ny media at this year’s conference inc luding Chris O’Neill Yates from the CB C and Louis Power from The Telegram .

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Transcontinental Media was one of the St. John’s Board of Trade members who attended the Labrador North Chamber of Commerce’s Northern Exposure conference and trade show.

Board of Trade Interns Natalie Beaton and Elizabeth Kennedy at Memorial University’s Career Week event, “Mee t and Greet with Industry Professionals.”

Emera CEO Rick Janega discussed the Maritime Link, Connecting Newfoundland and Labrador and Nova Scotia, during a luncheon February 23. He is seen here with Chair Kim Keating.

Nick Hounsell and Colin Corcoran welcomed guests at the 21Inc fire side chat.

www.anls.ca

Selling your Home?

Building a Fence?

Do I need a Boundary Survey?

Buying Real Estate?

Arranging for a Mortgage?

h 21Inc and Charlie Oliver, an advisor wit de, lead the Tra of rd a member of the Boa .

Keg The fire side chat at

Promotion of the Land Suveying Profession

MEMBER NEWS Alderon receives Developer of the Year Award

and innovation in the Newfoundland and Labrador mining industry.

Iron ore development company Alderon received the 2014 Developer of the Year Award from the Canadian Institute of Mining, Metallurgy and Petroleum (CIM), Newfoundland Branch. The award recognizes significant progress in advancing a mine toward production, a company’s contribution to health and safety, environmental stewardship or commitment to community,

“We’re honoured to have received this award in recognition of our hard work the past year,” says Tayfun Eldem, President and CEO of Alderon. “For our peers to acknowledge the dedication of our entire team carries special significance for Alderon and I’d like to thank the CIM for recognizing our accomplishments with this award.”

Alderon accomplished many significant milestones in 2014, including:

Global Finance editors, with input from industry analysts, corporate executives and technology experts, selected the best trade finance banks in 83 countries or regions. A poll of Global Finance’s corporate readership was conducted in order to increase the accuracy and reliability of the results.

•

being released from both the federal and provincial environmental assessment processes;

• •

receiving surface and mining leases;

•

signing a benefits agreement with the Province of Newfoundland and Labrador;

•

signing agreements with the local towns of Labrador City and Wabush;

•

signing an impact and benefits agreement with the Innu Nation of Labrador;

Memorial releases Strategic Internationalization Plan

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and most recently signing an offtake agreement with a subsidiary of Glencore plc for the production from the Kami Iron Ore Project that has not been allocated to Hebei Iron & Steel Group Co., Ltd.

Memorial University of Newfoundland has released the Strategic Internationalization Plan 2020, a plan with specific recommendations to guide the university in the implementation of a wide range of ambitious international and intercultural initiatives over the next several years.

concluding a power purchase agreement;

Export Development Canada recognized Export Development Canada (EDC) was awarded the Best Trade Finance Multi-Lateral Institution or Export Credit Agency Award for 2015 by Global Finance magazine.

EDC is Canada’s trade finance agency, and the leading provider of financing, insurance and bonding for Canadian companies of all sizes that do business outside of Canada. This annual award is presented to an international financing institution that has demonstrated excellence in the scope of its global coverage, customer service, competitive pricing, risk management and innovative products, services and technology.

“Export Development Canada is being recognized for its support to Canada’s

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international trade. Canada’s economy relies heavily on trade and EDC’s advice and financial help is critical,” said Joseph Giarraputo, Publisher and Editorial Director of Global Finance Magazine. “In addition, EDC is making efforts to help small Canadian companies enter overseas markets, and has helped to develop the country’s clean technology sector through the issuing of its first ‘green’ bond last year.”

Business NewS March / April 2015

“We are thrilled to hear that EDC has been awarded this year’s Best Export Credit Agency Award,” said Catherine Decarie, Senior Vice President, Human Resources and Communications. “Financial solutions like financing and insurance are critical parts of Canada’s trade toolkit and we’re flattered to be recognized as a leading provider.”

Open consultations with the university community were completed in fall 2014 and the final plan was approved by Memorial’s Board of Regents in February.

The full plan is available at www.mun.ca/vpacademic/sip2020.php.

“For many years now, Memorial has been increasing its investment in internationalization, attracting, retaining and supporting students and faculty from all over the world,” said Noreen Golfman, provost and vice-president (academic).

“This plan will bring focus and further intensity to our international efforts and help us leverage international opportunities to recruit students, enhance our learning environment and continue to serve as the province’s gateway to the world.”

MEMBER NEWS Memorial plays a key leadership role in internationalization in Newfoundland and Labrador and Atlantic Canada, and has a long and distinguished history of involvement in international teaching, research and service at its St. John’s campus, the Marine Institute and Grenfell Campus.

With faculty members, instructors and academic units actively engaged in international collaborations, award-winning programming for international students, leadership and vision in international graduate enrolment management through the School of Graduate Studies and a unique international offering through the Harlow Campus in England, Memorial continues to develop its presence as an important international player in higher education.

RDC bringing vessel to province The Research and Development Corporation (RDC) has announced a $4.9 million investment in a multi-purpose survey, support and research and development vessel to be stationed in St. John’s. The total cost to design, build and operate such a vessel over a 10-year period is estimated at more than $100 million which will be funded by Fugro GeoSurveys (FGI). RDC’s investment directly targets the research and development capabilities, equipment and operations of the vessel, which will be built and operated by Fugro GeoSurveys.

RDC’s $4.9 million investment is being provided under its Petroleum R&D Accelerator Program. While its core activities will consist of industry work, Fugro will dedicate 90 days per year for research and development activities.

Additional information on the vessel can be found in the backgrounder below.

The approximately 80-metre vessel, to be built and operated by Fugro GeoSurveys (FGI), will permit harsh environment and arctic research and development work.

The estimated completion time for the vessel is March 2017. Once built, the vessel will be based in St. John’s and will have an estimated vessel compliment of 40-50 professionals.

Town of Happy Valley-Goose Bay, YMCA sign letter of intent The YMCA has signed an agreement with the Town of Happy Valley-Goose Bay to work together on the town’s proposed Wellness Centre project. Both council and the YMCA Board of Directors have approved a letter of intent to guide discussions.

“The Town is extremely excited to be working with the YMCA toward making this project a reality for citizens of our community,” says Mayor Jamie Snook.

“The YMCA works in partnership with municipalities across the country and the expertise of the YMCA will be of great assistance to us.”

The YMCA recently successfully completed a $20 million project in St. John’s. The YMCA involves thousands of people in health, employment, and child care programs throughout the province.

The Town of Happy Valley-Goose Bay has been working on the Wellness

Centre project for many months. A community survey has been completed, an architectural firm has been engaged to lead public consultations, and a capital campaign director will be hired to lead fundraising efforts.

Under the letter of intent, officials will discuss how the YMCA could be an operator of the proposed new facility once construction is complete. The Town of Happy Valley-Goose Bay would be the owner of the facility and the YMCA would operate any aquatics, gymnasium, exercise, day camp, or child care programs. The facility may also include an ice rink, curling club, and other amenities to be operated by other groups.

Verafin unveils ground breaking technology in the fight against financial crime Verafin Inc. recently unveiled FRAMLx, an innovative enhancement to its FRaud detection and Anti-Money Laundering (FRAML) software. Powered by technology available only in the Verafin Cloud, FRAMLx delivers advanced cross-institutional analysis to detect suspicious activity across multiple institutions. FRAMLx is an exclusive Verafin advantage and this technology is the first of its kind to be offered by any fraud and AML software provider.

A driving vision

“This is a purpose-built, modern ice-class vessel capable of supporting research and development for the ocean technology sector, offshore petroleum industry and others,” says Glenn Janes, CEO, Research and Development Corporation. “This vessel will complement the suite of world class research and development facilities currently in this province, and I am confident it will lead to increased offshore and Arctic research and development, commercial testing, and value-added economic activity.”

Business NewS March / April 2015

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MEMBER NEWS “We’re so excited to announce FRAMLx and show our customers how it can help them identify suspicious activity that would otherwise go undetected,” says Jamie King, CEO. “When we started the business, we set out to be the industry leader in the fight against financial crime. With FRAMLx and cross-institutional analysis we have taken that goal a step further. It’s a really exciting time for all of us.”

FRAMLx will enable institutions to gain more insight on customer behavior, collaborate in their investigations, and more accurately detect suspicious activity. This innovation fills a major gap in fraud detection and anti-money laundering efforts as it provides a broad, holistic view over multiple financial institutions through information sharing provided by Section 314(b) of the USA PATRIOT Act.

Verafin collected feedback from customers and industry experts to help shape the development of FRAMLx, and to ensure it offers substantial value. Initial customer feedback to the concept, early designs, and capability confirms that FRAMLx is extremely valuable and will be in high demand. “We’ve been testing this with focus groups and the response has been overwhelmingly positive,” says Nick Janes, Director of Product Management. “From the customers’ reactions, it’s obvious that this will add tremendous value – people just can’t wait to start using FRAMLx.”

Verafin will make it much more difficult for criminals to utilize multiple financial institutions to commit crimes. “Criminal enterprises mask their illegal operations by exploiting multiple financial institutions simultaneously,” says Chris Swecker, former Assistant Director of the FBI. “Cross-institutional analysis deprives criminals of this significant advantage by detecting the broader scope of their collusive activities and acting quickly to shut them down.”

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Business NewS March / April 2015

INDUSTRY NEWS Report highlights impact of aquaculture on provincial economy The economic benefits generated by the provincial aquaculture industry from 2003 to 2013 are outlined in a report released last month titled Economic Impacts of the Newfoundland and Labrador Aquaculture Industry. The report provides information about the aquaculture industry’s positive impact on provincial GDP, employment, and labour income.

“Our government worked closely with the aquaculture industry to foster business activity that completely revitalized communities in the Coast of Bays, and bolstered new development in the New World Island and west coast regions,” says Vaughn Granter, provincial Fisheries and Aquaculture Minister. The data in this report, which was developed through rigorous analysis by the Economic Research and Analysis Division of the Department of Finance, provides valuable information about an industry that is driving economic activity, especially in rural areas.

In terms of GDP growth, the report reveals that aquaculture activity contributed an estimated $104.1 million contribution to total GDP in 2013 - 10 times the $10.5 million contribution that was made in 2003. With respect to total employment impacts, aquaculture was responsible for an estimated 872 person years of employment in 2013, compared to approximately 225 person years generated in 2003. Labour income from aquaculture activity in 2013 is estimated to be $36.7 million, which is approximately six times greater than the labour income that was generated in 2003. The study is available online at www.fishaq.gov.nl.ca.

Newfoundlanders and Labradorians have lowest non-mortgage debt: APEC Newfoundlanders and Labradorians have the lowest non-mortgage debt service ratio in Canada, says the Atlantic Provinces Economic Council (APEC).

People in this province allocate on average three per cent of their disposable income towards making interest payments on debt, a ratio that is 0.4 below the national average of 3.4 per cent.

In a news release, APEC attributes this province’s low ratio to strong income growth in the past decade. New Brunswick’s nonmortgage debt service ratio is also below the national average, at 3.3 per cent. Nova Scotia’s is at 3.9 per cent, and Prince Edward Island has a ratio of 3.8 per cent.

Overall, Atlantic Canadians generally use 6.1 per cent of their disposable income to make interest payments, APEC said in the release. That compares to a national average of 7.1 per cent. APEC attributes this gap to mortgage prices being significantly lower in Atlantic Canada than in the rest of the country.

Province reaches agreement with Vale A further amendment to the Voisey’s Bay Development Agreement has resulted in an estimated additional $200 million in compensation and a $30 million commitment for community initiatives in the province, according to a news release from the Government of Newfoundland and Labrador. Vale is constructing the Long Harbour processing plant to process nickel concentrate from the Voisey’s Bay mine into finished nickel products.

The opportunity to make improvements to the Development Agreement arose because of the delayed construction schedule at the Long Harbour nickel processing plant. Through the amended agreement, the Provincial Government has granted Vale further permission to continue to export nickel concentrate from the Voisey’s Bay mine to ensure continuity of operations and to provide operational flexibility until the processing plant reaches full capacity. All exempted concentrate will be replaced and processed in Long Harbour in future years. In addition, the Provincial Government negotiated further benefits estimated at $200 million in compensation for the province and a $30 million commitment by Vale for community initiatives.

“We have amended the Development Agreement in a manner that is a win-win for the province, for the communities we’re a part of, for our employees, and for Vale,” said Stuart Macnaughton, Vice President of Vale’s Newfoundland and Labrador Operations. “Having the ability to export additional nickel concentrate

Business NewS March / April 2015

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INDUSTRY NEWS allows Vale to continue generating income to support its ongoing investments in the province. It also allows our operations at Voisey’s Bay to continue unimpeded while Long Harbour ramps-up.”

Tourism initiatives receive money from ACOA Rob Moore, Regional Minister for Newfoundland and Labrador and Minister of State (Atlantic Canada Opportunities Agency) announced more than $1.2 million in funding for four projects in support of tourism and culture in this province during Hospitality Newfoundland and Labrador’s annual conference and trade show in Gander.

Hospitality Newfoundland and Labrador is receiving an investment of $400,000 for a two-year project to advance the interests of the tourism industry in Newfoundland and Labrador. The organization will focus on identifying strategic priorities, developing and enhancing partnerships

38

with key stakeholders, and growing the membership by delivering high quality programs and services.

The Fortune Head ECO Friends Inc. is receiving more than $278,000 to enhance interpretive exhibits and educational programming to attract new visitors to the Fortune Head GEOLOGY Centre. The Gros Morne Cooperating Association in Rocky Harbour is getting over $498,000 which will enable the group to continue work with regional stakeholders to implement the next phase of the Gros Morne Cultural Blueprint. The Town of Norris Point is receiving more than $116,000 to expand and enhance its tourism infrastructure through the development of an integrated trail system throughout the community, as well as the enhancement of the Neddies Harbour Marina.

WHSCC revises training program Businesses in the province will have three years to retrain occupational

Business NewS March / April 2015

health and safety committee members under a new training program offered through the Workplace Health, Safety and Compensation Commission (WHSCC).

In a statement, the WHSCC said changes have been made to the current program, with a new one. The new program, developed based on input from industry, independent training providers and safety associations, requires a minimum of 14 hours, but will be shorter overall. Current training will remain valid, but occupational health and safety (OH&S) committee members who are not due for a renewal of their training will all have to recertify before June 30, 2018, bringing them under the umbrella of the new program, with renewals due every three years. The trainers offering the new program will have to attend orientation sessions beginning in March.

More information about the changes to the certification training program for Occupational Health and Safety (OH&S) Committees is available at: www.whscc.nl.ca.

member profiles

SB2 Events Inc is an event planning and décor firm located in St. John’s, NL. We offer services for wedding planning and décor, corporate and residential holiday décor, as well as, corporate event planning, décor, and management. Opening in 2009, St. John’s has been an exciting and vibrant place to grow our business. Focusing mainly on weddings and personal milestone events up until this year, SB2 Events Inc has joined the St. John’s Board of Trade with aspirations of developing and nurturing relationships with future corporate event clients. Please find me at the next event and ask how we can help you make your next event a lasting impression.

Andrea Hounsell Something Borrowed, Something Blue Tel: (709) 754 8220 Website: www.sb2events.org

Marble Mountain Resort is Atlantic Canada’s premier mountain resort. Well known as one of the best skiing experiences East of the Rockies, Marble is also home to the highest zipline in Canada and numerous outdoor tours and experiences appropriate for all ages. A diverse collection of accommodators are all within walking distance of our 20 000 sq. foot western style lodge which serves as a wedding, convention, and special events hub in spring, summer, and fall.

Marble Mountain Resort Email: info@skimarble.com Website: www.skimarble.com Twitter: @skimarble Facebook: facebook.com/marblemountain Tel: (709) 637-7601 Tel: (709) 637-7666

The 43rd edition of Horizons, the annual business review and forecast for Newfoundland & Labrador, will be published April 24, 2015. Horizons this year will be the largest and most prestigious full-colour glossy magazine the Province has produced with a readership of over 150,000. The magazine will cover all major sectors – what is happening in our economy and the immediate future may bring. Company-sponsored profiles will focus on how individual businesses, organizations and municipalities operate and contribute to the economy. For additional information on inclusion in Horizons, contact Jamie Edgecombe at jamie@edgecombe@tc.tc

Quality Matters Inc. is a locally owned and operated company incorporated in 1997. We are a QHSE; health & safety, environmental, quality and business management firm specializing in consulting, auditing, training and personnel placement services for local to internationally recognized corporations. To accommodate the needs of our clients, Quality Matters has developed a network of global partners to provide our clients with a diverse variety of HSEQ services in national and international markets. Our team specializes in HSEQ systems, project management, assessment, development, implementation, standard integration, supply chain management, software support, auditing and training.

Employment Advertising Specialist

Office: (709) 422-7860 Cell: (709) 743-4864 Fax: (709 739-4864 16 Forest Road, Suite 301 St. John’s, NL A1E 0A5 P.O. Box 26045 Website: Qualitymatters.net

430 Topsail Road Box 86 St. John’s, NL A1E 4N1 Tel: (709) 364 6300 ext 335 Cell: (709) 765-4689

Business NewS March / April 2015

Our mission is to enable Canadians to improve their health, safety and quality of life by providing training and community service.

In NL, we have 350 first aid instructors providing quality programs and products to meet industry requirements. We offer many courses, including Standard and Emergency First Aid, CPR and AED, Marine Basic and Advanced First Aid, etc.

We also sell first aid kits and AEDs, which are simple to use and highly effective in responding to a casualty of cardiac arrest.

Revenue generated from first aid training goes directly back into local communities to support our front-line Community Services volunteers.

Tel: (709) 726-4200 Toll Free: 1-800-801-0181 Email: sja@nl.sja.ca website: www.sja.ca

Wayne has operated his own consulting business, as well, worked for a Fortune 500 company in various functions and has lived and worked in nine of Canada’s ten provinces and one of its Territories. He has expertise in areas of Customer Service, Human Resources and Sales; an effective combination to bring to his current position as a Realtor. Throughout his career, he has drawn on his experience and interpersonal skills to be an effective communicator at all levels; and believes that effective listening and understanding his client’s requirements are paramount to providing the right solution to their individual needs. Wayne often refers to his job title as a “Dream Merchant” as he helps his clients find the home of their dreams.

Wayne Davis, Realtor Exit Realty on the Rock Tel: 709 690-0014 Email: waynedavis@exitrealtynl.com

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NEW MEMBERS Community Sector Council Newfoundland & Labrador Penelope Rowe, CEO 25 Anderson Ave St. John’s, NL A1B 3E4 709-753-9860 709-753-6112 pennyrowe@cscnl.ca

O’Leva Oils & Vinegars Jennifer Pardy, Co-Owner 390 Topsail Road St. John’s, NL A1E 2B8 709-758-7873 oleva@live.ca

Business Portals

Kim Hickman, CEO 40 Quidi VIdi Road, Suite 103 Caledonia Place St. John’s, NL A1C 1C1 709-576-4349 709-576-2416 kim@businessportals.ca

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CPA Atlantic School of Business

Courtney Barnhill, Programs Recruitment Advisor Suite 500, 95 Bonaventure Ave St. John’s, NL A1B 2X5 709-753-3090 ext. 9 709-753-3609 cbarnhill@cpaatlantic.ca

Newfoundland & Labrador Legal Aid

Lynn Sullivan, Deputy Provincial Director 251 Empiure Ave, Suite 300 St. John’s, NL A1C 3H9 709-753-7860 709- 753-7851 lynnsullivan@legalaid.nl.ca

Westshore Artic Ltd.

Darrell Cole, Managing Director 510 Topsail Road, Suite 112 St. John’s, NL A1E 2C2 709-726-2993 darrell@westshore-artic.com

Business NewS March / April 2015

Narrows Consulting Inc.

Thomas Williamson, Managing Consultant 42 Ocean View Road Conception Bay South, NL A1X 0E7 709-682-8028 tom@narrowsconsulting.com

Sandler Training

Rob Marche, Franchise Owner / Trainer Newfoundland & Labrador 709-632-6742 Rob.marche@sandler.com

NFP GOVERNANCE ESSENTIALS PROGRAM

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VICTORIA BELBIN CEO, CANADIAN HOMEBUILDERS ASSOCIATION – NEWFOUNDLAND & LABRADOR DIRECTOR, HABITAT FOR HUMANITY NL AND SKILLS CANADA NL CHAIR, HISTORIC SITES ASSOCIATION NL

Better serve your Not-For-Profit organization

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PROGRAM DATES: April 20-21, 2015 APPLICATION DEADLINE: March 26, 2015 COLLABORATING SCHOOL: Gardiner Centre, Faculty of Business Administration, Memorial University A LIMITED NUMBER OF RBC FOUNDATION AND TELUS SCHOLARSHIPS VALUED AT $1,000 EACH ARE AVAILABLE FOR THIS OFFERING.

MAKE A DIFFERENCE AS AN NFP DIRECTOR. CONTACT THE ICD AND APPLY TODAY. 1.877.593.7741 x228 icd.ca/NFP education@icd.ca Supported by:

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