Business News February 2012

VOLUME 27, NUMBER 2, 0834-2012 FEBRUARY, 2012

BDC’s St. John’s Business Centre celebrates50 years serving the local business community

IN THIS ISSUE:•Past presidents recognition

•Meet the 2012 new board members•NLAN City of Angels

PR03750 Noseworthy_Chapman_9X11.5_ad FA.eps 1 12-01-16 10:45 AM

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: Alisha MorrisseyPrinted by: British Group of CompaniesLayout: Roxanne Abbott ST. JOHN’S BOARD OF TRADE EXECUTIVE

Steve Power ChairDenis Mahoney Senior Vice-ChairSharon Horan First Vice-ChairKim Keating Second Vice-ChairJo Mark Zurel Immediate Past ChairPaul Janes Secretary-Treasurer

BOARD OF DIRECTORS

Dallas MercerAndrea BrocklehurstWayne BruceHeather Bruce-VeitchLynn SullivanKaren McCarthyDorothy KeatingDes Whelan

STAFF

Nancy Healey ChiefExecutiveOfficerJennifer Chaytor Manager of Finance and ComplianceLori Coleman Business Affairs ManagerMargie Davis Sales ManagerAlisha Morrissey Policy Research AnalystCraig Ennis Vice President of Policy and CommunicationsWanda Palmer Events Marketer & Administrative CoordinatorJackie Bryant-Cumby Member Relations Administrator

St. John’s Board of Trade34 Harvey RoadP.O. Box 5127St. John’s, NL A1C 5V5 CanadaTel: (709) 726-2961 Fax: (709) 726-2003E-mail: [email protected]: www.bot.nf.ca

IN THIS ISSUEContents

Business News

COVER STORY 2CHAIR’S MESSAGE 3FEATURES 4KEEPING CURRENT 10MEMBERSHIP 20

February 2012 1

Cover Story

Business NewsFebruary 20122

bdc - A HISTory of SUccESSbdc’s St. John’s business centre just celebrated its 50th anniversary, a testimony to the fact that this local team has a true history of success with its clients.“We’ve supported businesses here through the good times and the tough times. We were there during the collapse of the cod fisheryinthe90sandhavehelpedSMEsthrough challenging economic cycles including the last recession. Now, with the economic boom of the oil and gas industry, we’re also helping entrepreneurs tap into growth opportunities,” says Terry Quinn, Senior Vice President, Finance and Consulting – Atlantic. BDC (Business Development Bank of Canada)offersfinancing,subordinatefinancing,venturecapitalandconsultingservices to 29,000 small and medium-sized companies across Canada. The bank has almost 1,900 employees and more than 100 business centres. The St. John’s team oversees a roster of over 900 clients for a commitment of over $400 million which means a busy time for the bank. In fact, in the past 12 years, the business centre has doubled its staff to 36 employees. Quinn attributes a part of the business centre’s success and growth to a “reliable model: happy employees make happy customers.” The St. John’s group is renowned for its lively, personable work environment where an upbeat attitude is a way of doing business. “I think the sense of camaraderie heredefinitelystrengthensourteamworkand helps drive performance too,” he emphasizes. It’s not surprising as well that BDC has been named by Macleans as one of Canada’s top employers since 2007, he says. Inturn,satisfiedemployeesinSt.John’sare loyal to the organization, which means lower turnover. “That also enables us to build strong, long-term relationships with our clients. Business owners here know the

people who they are dealing with, so they’re loyal to us too,” says Quinn. The St. John’s team has also focused on building a close rapport with the local business community. The group has earned a reputation for holding “can’t miss” events such as their annual client appreciation event, which attracts about 250 local business people. “We know that people really look forward to our events. They’ve become our trademark,” says CathyDawe,AreaOfficeManager. “Our events attract a real mix of larger, established companies and smaller, younger businesses. It’s an excellent opportunity for entrepreneurs to network,” she says. Another strength of the St. John’s team, says Quinn, is working continually with local chartered banks and creating alliances with other organizations such as the Community Business Development Corporations and ACOA. “We want businesses to benefitfromouralliancesandensurethatwecanfulfillacompleterangeofneedswhetherit’sfinancingforastart-upor a company exploring international opportunities,” he says. The St. John’s team is also in tune with the evolving needs of today’s businesses, which operate in a highly competitive environment where technology and success go hand in hand, adds Quinn. “Wecontinuetofindnewwaystosupportentrepreneurs such as our ICT (Information and Communications Technology) financingandconsultingsolutions,”hesays. “We know that technology helps entrepreneurs be more productive, efficient,profitableandcompetitive.The

ICT program offers vital working capital for hardware (servers, network, telephony, computers and accessories), software (ERP, CRM, human resources, supply chain,financeandaccounting),aswellasconsulting services (IT planning, strategy, security, online sales, Internet marketing, social media). ReaderscanfindmoreinformationonICT on bdc.ca or by visiting the local business centre located in Atlantic Place, 215 Water St. or calling 772-7320. “Ultimately, we’ve stayed close to our clientsoverthepastfivedecadesandsuccessfully adapted to their changing needs. The future for our business centre looks bright and we’re looking forward to celebrating our next major milestone,” concludes Quinn.

Terry Quinn, senior vice-president, financing and consulting-Atlantic

Chair’s MessagepITcH IN

Business News February 2012 3

Chair, Steve Power

Are you aware there’s a Tumblr site out there where people in our city can post photos of the worst parking jobs of others?

Have you noticed the comments boards of local news outlets that are just full of complaints about

everything from the city’s snowclearing to the sentences provincial court judges hand down to those convicted of various crimes? Or when was the last time someone said something nice about their jobs, partners or kids in casual conversation, rather than snarking about something in an attempt to be funny? I’ve been noticing that there’s a whole lot of complaining going on about the way we live our lives. Perhaps the rise of the Internet has opened my eyes to more of the complaints. Or perhaps we’re all a little more vocal about the little irritants in life. Either way, I’m one of those people who believes airing grievances isn’t a way to solve problems.

We solve problems by identifying them, figuringoutthebestsolutionsandapplyingthem. I recently read an article about how economic development is the responsibility of everyone in a community. Meaning the greater success or failure of a group is dependent on every individual. It’s one of those concepts that we all learned as early as Kindergarten, but seem to forget as we become adults. So I’d like to offer a few tips that could boost economic development in our city and generally make the place we live better.

Volunteer. By pitching in at the library, coaching your kids’ soccer team, handing out sandwiches with Street Reach or packing food hampers for the Community Food Sharing Network, you’re reducing the amount of your money governments need to spend on certain services and you’re doing something to help someone else … a feeling that’s invaluable.

Be proud and loud about where you live. We’re very lucky to live in St. John’s –acleanandbeautifulcitywithinfinitepotential right now. Talk may be cheap, but it’s certainly the way to build buzz. Chat about the positive aspects of our city when you’re here and when you’re away. You’ll findprideinplaceisinfectiousandwhoknows who will hear you and what they’d be willing to invest in this city too.

Support the arts. Buying gifts at a craft fair, picking up a painting at a charity auction or even buying season tickets to the NSO is an investment in your community. We all prosper from a diverse economy and these kinds of spends tend to be small and enriching to you and your family as well.

Join a group.Whether it’s Happy City, Rotary the Kinsmen or some other community group you’ll not only expand your own personal circle of friends and contacts, but show a desire to have an impact on the community as well.

Make friends with newcomers in your community. We’re talking about a labour shortage, a demographic timebomb even. The simplest thing you and I can do to combat that is to invite that new neighbour over for dinner. Offer to help out with the Association for New Canadians. Smile at those new faces in your community. Even offer directions to tourists or to take their photo in front of landmarks. People who feel welcome are more likely to stay around.

Support continuing education. Donations to universities or colleges need not be thousands of dollars in scholarships – though I’m sure cheques won’t be turned down should you bring them to Memorial University. Donations of books and documents to libraries, attend student fundraisers and offer your time when you can. Investing in education always delivers great returns.

Participate in public forums and question your leaders. Even when the issue doesn’t directly affect you, being involved in the discussion is invaluable. Perhaps you won’t have much to say or maybe you’ll know how to solve a particular community problem. Either way, you’re showing that you’re active and care about your community as an interconnected whole does have an impact. Municipal, provincial or federal, we choose our leaders and they choose our civic priorities. Write a letter when you don’t think your government is representing your values. Make a phone call to your MHA when they vote against something you’re for or vice versa. Don’t just register complaints – offer solutions.

Vote.Election day is one day when you get to really have your say. Think about your candidates, their values and plans. Do they match with yours? Why are you really putting an X next to that name? So get involved, offer a hand or smile. It may not cost you much of anything, but it all adds value to our community. And what a community we have.

Feature


SAfEkEEpINgHow to keep payroll information safe

By Rachel De Grâce, CPM, CEB

Are your payroll records being kept in a cardboard box underneath your desk? If so, you might want

to keep reading… Control over where and how payroll records are kept should be a top priority for all organizations. Government bodies have regulations on which payroll records must be retained and for how long. There are also other things to take into consideration when deciding how and where certain forms and information should be maintainedinfiles. The Canada Revenue Agency (CRA) and Revenu Québec (RQ): The CRA and RQ require that all records and supporting documents required to determine your tax obligations and entitlements be kept for a period of six years from the end of the last tax year to which they relate. Year-end slips, in particular, contain highly sensitive information and should be securely maintained at all times. Also, employers who wish to transmit T4 or RL-1 slips electronicallytoemployeesorbeneficiariesmustfirstobtainconsentinwritingorelectronic format. Employment/labour standards: Each jurisdiction sets out which types of records must be maintained in the employee’spersonnelfileandforhowlong. Hours worked, vacation records and employee addresses are just some examples of the type of information required to be maintained. As these time frames vary from 12 months after the workisperformedtofiveyearsfromthetermination of employment, employers must ensure that the legislation is being met in each province or territory where they have employees performing work. Record of Employment (ROE): The ROE is the single most important form under Employment Insurance (EI). Even blank ROEs must be secured under lock and key, as each blank form has a unique serial number that is linked to the company.

Employers may be held liable for any negligence that caused an ROE to fall into the wrong hands and resulted in fraudulent EI claims. Penalties can be as high as three timesthefraudulentbenefitscollected,putting a price-tag of up to nearly $70,000 for each ROE. Employers who enroll with ROE Web enjoy the added security of not having to print paper copies for their employees and of storing the employer’s copy in a secure electronic environment with Service Canada for the required six-year period. Privacy & Social Insurance Number (SIN): Employers also have a responsibility under privacy legislation to protect an employee’s personal information. This includes their SIN, address, date of birth, dependent information, garnishments, etc. To avoid possible litigation, employers should ensure that any documents containing such information be kept under lock and key. Sensitive documents should also be protected while payroll and HR staff work on them throughout the day. Even short breaks away from your desk could lead to this information being compromised. Ideally, employees

working with such forms, including the payroll register, should be set apart from all other employees not needing access to such information. A stolen SIN could result in identity theft, often leading to stolen monies, poor credit ratings, and implications in criminal activities. Accounting: All T4 information must be retained for the current year plus six years prior.Allpayrollfilesrelatedtosalaries,deductions and remittances must remain onsite for at least the current year. If the employer chooses to retain the previous years’ information offsite, the employer remains responsible for maintaining these filesinasecureenvironment.

Rachel De Grâce, CPM, CEB, is the Compliance Services Developer for the Canadian Payroll Association (CPA). The CPA has been representing employer payroll interests in Canada since 1978. www.payroll.ca

Rachel De Grâce

2012

Thank You!

Photo by Kevin Kroeker – www.ontherockphotography.com

Thank you for making the2012 Business Development Summit a huge success!

Outlook provided valuable insights into the economicfuture of this province and the Trade Show showcased

local products and services to hundreds of visitors.We look forward to seeing you next year!

A SPECIAL THANK YOU TO OUR SPONSORS

BusinessSPARKING GROWTH

Feature


AmbASSAdor colUmNbarbara Stoyles

Since starting my own business as an Independent Travel Advisor my top priority was to meet new people and

to establish a presence in the local business community. The St. John’s Board of Trade was the perfect solution for me. It provides me with ample opportunities, through networking events, luncheon to meet some amazing people and the decision – makers in the business community. Wanting to be more involved, I became an Ambassador in September 2011. Being able to contribute my ideas and help organize Board events and to build long lasting relationships with all the Ambassador team and the staff of the Board has been a very valuable experience for me. One of my recent experiences was helping to organize and participate in the Amazing Membership Race, which once again was a huge success. Whether

it is organizing events or helping other members to get the most out of what the Board has to offer the Ambassador committee always keeps Board policies and procedures in mind but we have a lot of fun doing it. My involvement has been very rewarding both professionally and personally and I lookforwardinmeetingmoreinfluentialpeople with the St. John’s Board of Trade.

Barbara Stoyles is an Independent Travel Advisor with Vision 2000 Travel Group. Specialist in The Art of Travel. From Business Travel, Destination Weddings & Honeymoons, Cruise, Family Vacations, Escorted Tours to Domestic Travel. Making all your Travel Dreams a Reality. For more information please contact Barbara at 709 726-1979 or [email protected] or www.vision2000.ca/barbarastoyles

We may not know everything about your business. But we’re close.We’ve yet to see two businesses that are the same. Similar challenges and opportunities, maybe, but that’s where it ends. Which is why we put such emphasis on asking the right questions to focus our solutions. That way, we can provide the expertise and products needed to move your enterprise forward and help you reach your goals. With over 175 years of business banking experience, Scotiabank has quite a lot to offer.

Profit from what we’ve learned. Let’s talk.

Commercial Financing Franchising Equipment Leasing Real Estate Agriculture M&A Advisory Automotive

scotiabank.com/letstalkbusiness

® Registered trademark of The Bank of Nova Scotia.

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Publication: Calgary HeraldMaterial Deadline: November 14, 2011 Insertion Dates: November 16, 2011

Canadian Marketing 100 Yonge Street, 6th Floor

Toronto, ON M5C 2W1

We may not know everything about your business. But we’re close.We’ve yet to see two businesses that are the same. Similar challenges and opportunities, maybe, but that’s where it ends. Which is why we put such emphasis on asking the right questions to focus our solutions. That way, we can provide the expertise and products needed to move your enterprise forward and help you reach your goals. With over 175 years of business banking experience, Scotiabank has quite a lot to offer.


Commercial Financing Franchising Equipment Leasing Real Estate Agriculture M&A Advisory Automotive

scotiabank.com/letstalkbusiness

® Registered trademark of The Bank of Nova Scotia.

File Name: COMM_AD_CalgaryHerald_10.5x11_2 Trim: 10.5” x 11.071” Bleed: na" Safety: n/a Mech Res: 300dpi Colours: CMYK

Publication: Calgary HeraldMaterial Deadline: November 14, 2011 Insertion Dates: November 16, 2011

Canadian Marketing 100 Yonge Street, 6th Floor

Toronto, ON M5C 2W1

We’ve yet to see two businesses that are the same. Similar challenges and opportunities, maybe, but that’s where it ends. Which is why we put such emphasis on asking the right questions to focus our solutions. That way, we can provide the expertise and products needed to move your enterprise forward and help you reach your goals. With over 175 years of business banking experience, Scotiabank has quite a lot to offer.


Peter Fitzner Director and Group Lead (506) 857-3626, Ext. 8005 [email protected]

Bernadette Knowles Senior Client Relationship Manager (506) 857-3626, Ext. 8000 [email protected]

Brian Kent Client Relationship Manager (506) 857-3626, Ext. 8002 [email protected]

We may not know everything about your business. But we’re close.

FeatureAmbASSAdor colUmN


darrin fitzpatrick

Being a member of the St. John’s Board of Trade and an Ambassador have been rewarding and

encouraging to me because to know that businesses, organizations, groups and individuals are working together as one for today and for future generations, is a step in the right direction for NL. I believe we are all working together to make NL a better place to live, work and to continuing our strong heritage and this is something I have value from day one. The BOT has given me the opportunity to attend events, meet new people and learn what direction, as a province we are headed. Being a member, I have the privilege to exchange opinions and ideas with decisions-makers of NL who are working together for a brighter future and to gain insight on what is right and wrong for the province. This is what makes NL unique.

I have met and developed relations with members of the BOT team that will last a life time and I have made valuable contacts with industry that has grown my business portfolio. I would like to thank all ambassadors and members of the BOT for making my experience as a member wonderful and knowledgeable that will forever have a positive impact on my life.

Darrin Fitzpatrick - Business Development Officer for Contract Training & Continuing Education (CT&CE) for the College of the North Atlantic. CNA develops customized training programs/courses from a one-day session to programs of several weeks – offered anytime, anywhere. We also build entirely new programs tailored to fit the training requirements of our clients. Continuing Education programming includes part-time certificate programs, credit courses,

non-credit courses, and professional development opportunities in various disciplines. For information on CT&CE program/courses, please contact Darrin Fitzpatrick at (709) 744-6845 or email: [email protected] or the college’s web site at: www.cna.nl.ca

Feature


cITy of ANgElSprivate investors may be deploying smaller amounts of cash, but there’s no plan to stop backing promising new ventures

by Peter Moreira Reprinted with permission from Progress Magazine

Last year, Aczen Innovations had a problem common to young companies: It needed capital.

The three-year-old St. John’s-based businesshadbeenusingafloatoffounders’ money to develop its product, software that automatically completes timesheet data within existing business systems. Aczen’s executive team was pleased with the development of the technology, but theyneededmorefundstofinancetheroll-out in international markets. As the team searched for backers, they contacted the St. John’s Board of Trade, which put them in touch withanaffiliatedorganization,theNewfoundland and Labrador Angel Network (NLAN). The introduction came as new life was being breathed into NLAN, and in late 2010 nine angels from the network took a minority position in Aczen. The fresh capital certainly helped, but the pleasant surprise for Aczen CEO Ronald Peddle and his team was the business acumen they gained with the investment. “We’re a software company, and the group that invested in us has no software people in it,” says David Hiscock, Aczen’s vice-president of marketing and product development. “But they work in highly successful companies that need software, andwereallybenefitedfromtheirinsightsand connections.’” NLAN hasn’t had an easy gestation period. It has been around since 2005 but had trouble gaining traction early on. In 2008 its founders decided to pull back, reviewoperations,andtrytofindawayto move forward. The Aczen investment

marked a milestone in many ways. Once that deal closed in late 2010, the network hadinvestedatotalof$1millioninfiveNewfoundland and Labrador start-ups, and it had more than doubled its membership to 25 in the previous year. It continues to grow, and by the summer of 2011 had signed a total of 30 members. “Two years ago we started to work on our current model,” says NLAN chair Gary Follett. “The biggest single item was that we put a greater focus on recruiting angels.” He hopes to eventually have 50 members.

Angel networks are now as much a cornerstone of any jurisdiction’s business ecosystem as the oceans are to the planet’s biological ecosystem. Though loosely defined,angelnetworksaregroupsof successful entrepreneurs who band together to invest in and mentor young businesses. It’s their way of giving back to the community and, hopefully, rounding out their investment portfolio with a few high-risk, high-potential companies. As a rule, they don’t back local businesses such as restaurants or real estate; rather, they provide capital for innovative enterprises that will target international markets. The stability and growth of NLAN marks an evolution in the angel movement in Atlantic Canada. There are now three

groups in the region that qualify as angel groups. The biggest is Halifax-based First Angel Network Association (FAN), which is composed of about 100 members from locations throughout the Maritimes and which has invested in 18 companies, one of which is the publicly listed Halifax-based biotech company Immunovaccine Inc. Another is Dartmouth-based retail body-scanning company Unique Solutions Design Ltd., which recently received $30 million in follow-on funding (See story page 11).

Led by Brian Lowe and Ross Finlay, FAN is the sort of outward-looking organization the region has always needed. It’s a mainstay of the National Angel Capital Organization, has invited investors from other provinces to invest in its portfolio companies, and has developed relationships with angels in New England and across Canada. The second group is harder to identify but no less of a force. It’s the circle surrounding Gerry Pond, the chair of Saint John-based Mariner. While Pond declined to discuss Mariner’s private investments for this article, he’s known to have backed several of the successful software and information technology companies that New Brunswick continues to produce. The Saint John-based

e-prescription company MedRunner Inc., for example, lists Mariner as one of its investors, and Pond was one of the original investors in Moncton-based Radian6, which in March was sold to Salesforce. Com for $276 million (U.S.) in cash and $50 million (U.S.) in stock. Of course, it’s also common for companies to organize their own network of investors, as Moncton software company Lymbix Inc. did in February of 2010, raising $500,000 from 45 individuals. That investment set the stage for its next round of funding, a $1.35-million venture capital investment from GrowthWorks Atlantic Venture Fund in March of this year.ThefinalpillarintheAtlanticCanadianinvestment structure is NLAN, whose

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recovery increases the funding options available to regional entrepreneurs in general and to those in Newfoundland and Labrador in particular. Already thisyear,FANdiditsfirstinvestmentin Newfoundland and Labrador when it invested in ClearRisk Inc., an online provider of risk-management solutions based in St. John’s. Now FAN has been talking to NLAN about co-investing in another Newfoundland and Labrador company. “I like the fact that we’re doing more co-investments, because I think it’s important for the region,” says Lowe, who also serves as the entrepreneur-in-residence at Dalhousie University. The resurrection of the Newfoundland and Labrador network came about in about 2009, when one of the founding angels, Jo Mark Zurel, and NLAN’s board of directors began to study what it would take to form a nucleus of investors in the province. They spoke to other networks, including some angels in Ottawa, and continued to work closely with the St. John’s Board of Trade. They also reached out to some of the other organizations in St. John’s that were working with young companies, including Memorial University’s Faculty of Engineering and Applied Science, the Atlantic Canadian Venture Gateway, and the Genesis Group, Memorial’s division responsible for commercializing research. “We focused on making sure our own house was in order,” says Zurel. “We had to make sure NLAN could survive. We wenttovariousCAfirmsandlookedforproposals on how to outsource some of NLAN’s functions.” Eventually they decided that rather than have an in-house general manager, they wouldhaveapart-timeofficerwhowouldhelp keep the affairs of the network in order and screen applicants for funding. Leanne Kelly, a senior manager with Grant Thornton in St. John’s, has been overseeing the network’s daily operations ever since. It also relies on the board of trade for referrals and administrative support. The focus continues to be on recruiting angels and ensuring there’s a minimum number of

investors in each investment. But beyond the number of members, the organization wants to ensure the right mix of investors so the network is able to respond to a number of opportunities. NLAN is continuing to evolve, and its board of directors recently made a decision that will distinguish it from otherangelgroups.Sofaritsfiveinvestments have been in start-ups, but from now on it will also have the option of investing in companies facing succession challenges. Like other Atlantic provinces, Newfoundland and Labrador has a vast array of businesses owned byagingoperators,andtheymustfindyoung entrepreneurs to run them. If an entrepreneurneedsfinancialhelpinbuyingout an existing company, NLAN will be able to back a new owner taking over the going concern. Zurel says the group aims to nurture good management in good companies, and he takes seriously the mission of angel networks to mentor younger entrepreneurs. He draws a distinct contrast between the workings of his organization and the combative mood displayed on the CBC-TV series Dragons’ Den, which he describes as the “dark side of private investing.” The key,hesays,istofindpeoplewhowillmake savvy entrepreneurs, then work with

them to achieve their potential. “We’ve seen no shortage of good ideas,” he says. “We have a fantastic university in St. John’s, and we’ve seen good work coming out of government. But we all know there’s a difference between someone with a good idea and a good entrepreneur.” NLAN obviously thought Ronald Peddle and David Hiscock were good enough entrepreneurs to back Aczen. And Hiscock readily admits they have gained immeasurably from the business advice they have received from the experienced businesspeople. He and his colleagues are busy delving into the minutiae of their business, so it helps to take the time now and then to sit down with mentors who can take a broad view of their operations. “Unlike your friends, they have no desire to be nice about it,” says Hiscock, laughing. “They don’t sugarcoat anything. And you know what? That works really well.”

Peter Moreira is the principal of Entrevestor.com, the blogging portal for entrepreneurs, investors, and innovators in Altantic Canada.

Keeping Current


polIcy mATTErS2012 provincial pre-budget consultations

The following are excerpts from the presentation Steve Power gave to Finance Minister Tom Marshall as

the provincial government prepares Budget 2012: Debt servicing costs roughly $2 million per day. Meaning that by the time Monday rolls around, the money we spend on public debt charges could have:

Tripled the $1 million over the next •two years for the Positive Action for Student Success program, which currently supports 250 disengaged or at-risk young people across the province so they stay in school, and,Grown the $400,000 this year in •interimfundingtoimplementthefirststages of the Provincial Strategy of the Inclusion of Persons with Disabilities by about six times.

Butbecauseofourpastfinancialhistoryand maybe some resistance to using our oil money to pay our outstanding bill in full, inthefiveminutesittakesmetodeliverthis presentation we will have paid $1,400 on interest rather than important programs and services. Using today’s oil revenues to pay off the bills we have accumulated means three things. The province will:

be better positioned to weather future •storms,save money on interest payments, and •be able to make sustainable •investments in important public services for its people.

Letmemovetodiversification,becausethat’s directly related to the legacy we will leave based on our actions today. Minister, you were quoted in a news article earlier this week that you were lookingforideasondiversification.That’ssomething that the Board has talked about publicly and has talked about with you directly. Here are some initial thoughts. In the immediate or short term, let’s create the structure and environment:

Recommend to the Premier that she •appoint a Parliamentary Secretary

forDiversificationreportingeitherto herself or to the Minister of Innovation, Business and Rural Development.Appoint a Blue Ribbon Panel which •willgenerateadiversificationreport,much like the Our Place in Canada commission process.Createadiversificationsub-committee•of Cabinet, consisting of yourself, the Minister of Natural Resources and the

Minister of Innovation, Business and Rural Development.And adopt an Arctic Gateway strategy •to take advantage of Labrador’s booming economy and its natural geographic advantage to access Arctic opportunities.

Finally, I’d like to talk about demographics as it relates to labour market development. The new number

Continued on next page...

Keeping CurrentpolIcy mATTErS


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one concern of our members is recruiting qualified employees. There are many facetsas to how to address this matter and I know the province and business and labour are working on a number of fronts. The province may want to consider, and may want to include these things in the Speech from the Throne and the Budget, things like:

Immigration and temporary foreign •workers will be part of the solutions and we need to ensure that the province’s immigration office isadequately resourced to deal with the influx; if we know we are goingto have labour shortages we need to put our resources into solving that problem; The province might consider working •with the federal government to move its labour market opinion renewal timeframe from 12 months to 24 months, as other provinces have;Implement a provincial transportation •strategy, which was in the Blue Book, to ensure that it’s easier for the welder in Deer Lake to go to Long Harbour than it is to go to Fort MacMurray;Reduce taxes on jobs such as the •payroll tax because that money is more needed and better spent in communities and will result in increased employment and wages, helping to attract workers;Concentrate recruitment and retention •efforts on expats and international students; and,Control what we can such as spending •within our means so that youth aren’t turned off from a place where they know taxes will increase and public services will decrease 20-30 years from now.

Speaking of public services, we know that municipalities have a great deal of the burden in providing vital services, and we would encourage you consider their views, particularly that of our capital, as it is a regional and provincial centre that has unique cost-pressures.

mEET yoUr NEw ExEcUTIvE

kim keatingSecond vice-chair

Technology Team leader – facilities & projects Engineering with Suncor

paul JanesSecretary/Treasurer

Associate partnerdeloitte canada

Sharon Horanfirst vice-chair

president and founder of fIT for work, Atlantic orthotics ltd., Schooner Holdings and dory Holdings.

denis mahoney Senior vice-chair

partner with mcInnes coopermanager of employment legal group

Steve power chair

managing partner grant Thornton llp Newfoundland

mEET yoUr NEw boArd

dorothy keatingdirector

partner with Noseworthy chapman chartered Accountants

karen mccarthydirector

president of m5pr

dallas mercerdirector

president and owner of dmc – dallas mercer consulting (2010) Inc.

des whelandirector

president / cEokeyin college Inc.

Heather bruce-veitchdirector

director of External relations

Iron ore company

wayne brucedirector

partner

Stewart mckelvey

lynn Sullivandirector

Chief Operating Officercox & palmer

Andrea brocklehurstdirector

manager, business manager plato consulting Inc.

for more on our newest members of the board see the member News section.

Feature


It’s frequently said that without knowing where you’ve been, you can’t begin to know where you’re going.

At the St. John’s Board of Trade it’s one thing to know your history, it’s another thing entirely to recognize what an impact it still has on day-to-day operations. This winter the Board launches its Past-President’s Recognition Program with the introduction of a keepsake pin for past president. Pat Thompson, owner operator of Diamond Design and a long-term Board of Trade member designed the pin in collaboration with Board of Trade CEO Nancy Healey. They agree the pin is more than a keepsake, it’s a reminder, to the wearer and the greater community, that time spent as the Board of Trade chair or president had an impact. The gold pin, die cast with a representa-tion of Cabot Tower and a single diamond, all symbolize the weight of the position, says Thompson. “I know a number of the past pres-idents person-ally. … They are allfairlysignificantplayers in the business scene over the last couple of genera-tions. The Board of Trade wanted to highlightsomethingsignificantforthesepeople; to recognize them for the effort and the volunteer time that they gave to the Board of Trade,” Thompson says of the process of designing and making the pins.CabotTowerwasanaturalfitastheemblem, he says. “It’sverydifficulttofindanothersymbolthat would tell the story. With Cabot Tower

standing above St. John’s, looking over the city, this kind of had that nice imagery. As well, of the leader who would be getting this pin, who really was in a position of trustandconfidenceandoversawtheorga-nization as the way Cabot Tower overlooks the city,” Thompson says. “One of the things that I do when we go to design something is to try and get a real sense of the value and the importance of the pin. We could see right from the get go here thiswasasignificantawardtobegivento

someone.” The Board, decided to launch the program as one more way to recognize the commitment made to the business community, to the Board and the province by these exceptional volunteers. “The St. John’s Board of trade has a strong reputation … (which) is attribut-able to many factors including its 40-year

history of community-mindedness and attraction of top-notch individuals to lead the organization. These past presidents and now past chairs continue to be leaders in this community,” says Healey. “The pin is a visible symbol to be worn with pride by the individuals who had a hand in growing the business community of St. John’s.” The pins will be presented at Board of Trade events throughout the year to past chairs and presidents, starting with the launch of the pin at the chair’s inauguration

on Feb. 15. The presentations will be

about honouring the indi-vidual and their contri-bution to the Board and their community. Incoming Chair Steve Power will be sharing his inauguration with thefirstpresentationofthe pins and says he’s happy to do so. “As much as we work towards a future and concentrate on long

term goals for business and our community,

sometimes we have to look back and

see how we got here. And how we got here is on the shoulders

of our former leaders – people who

had insight and fortitude and energy to say ‘business needs

a voice and a collective effort to contribute to this place.’ The Past-

Presidents’ Recognition Program is about honouring those people and thanking them for their work,” Power says. “We are formally recognizing the leaders of the St. John’s Board of Trade, but we realize that those folks had a network of supporters that helped them accomplish what they did. From directors to committee volunteers to Ambassadors and beyond, the Board of Trade has been and still is a

prESENTINg oUr pAST prESIdENT’S pIN


team effort. Many of the past-presidents are still members of the Board of Trade and they are conscientious members of the business community. They are part of a larger group; they would give their compli-ments and thanks to those people and we’ll do the same on their behalf because every volunteer has contributed.” Thompson himself, has served on the Boardandsaysit’sasignificanthonourforhim to have designed the pin.

“My family has been in business in St. John’s for many generations. I’m a third generation jeweler that goes back to 1905 so that our family has been a member of the Board of Trade in its earlier incarna-tions as well as today all the way through,” hesays.“We’vealwaysfeltasafirmandas a family that the Board of Trade was a very important organization.”

St. John’s Board of TradePast Presidents/Chairs

1970 Robert Innes

1971 Burf Ploughman

1972-73 William Neal

1974-75 Graham Mercer

1976 Andrew Crichton

1977 George Warren

1978 Edwin Hussey

1979-80 Gerry Anthony

1981 Rick Emberley

1982-83 Christine Fagan

1984-85 Bernie Beckett

1986 Geoff Tooton

1987 John O’Dea

1988-89 Fraser Edison

1990 David French

1991 Geoff Carnell

1992 Andrew Collins

1993 Siobhan Coady

1994 Gerard McDonald

1995 Roger Flood

1996 Anne Rose

1997 Rob Crosbie

1998 Sandy Gibbons

1999 Martin Lockyer

2000 Gary Follett

2001 Michael Wilson

2002 Gary Reardon

2003 Paul Thomey

2004 William Budgell

2005 Marilyn Thompson

2006 Ray Dillon

2007 Cathy Bennett

2008 Donna Stone

2009 Bruce Templeton

2010 Derek Sullivan

2011 Jo Mark Zurel

Feature

Phot

o C

redi

t to

Gre

g Lo

cke

Pat Thompson

prESENTINg oUr pAST prESIdENT’S pIN

Keeping Current


AroUNd THE boArd

The roundtable was a discussion around government finances and how federal regulationscan help with labour market demands here.

– Photo courtesy of Michelle Murrin, CRA

Board of Trade Chair Jo Mark Zurel, poses with CRA Minister Gail Shea and Wade Hiscock, the local manager of CRA, after a roundtable on business and taxation issues at our offices in downtown St. John’s.

– Photo courtesy of Michelle Murrin, CRA

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Keeping CurrentAroUNd THE boArd


Last fall, a lot of us spent a morning with hockey great WayneGretzky.AfterthefinaltallytheSt.John’sBoardof Trade, in partnership with TD Canada Trust, decided to share the success of the event. Just before the holidays Board CEO Nancy Healey selected the Janeway Children’s’ Foundation from a hat as the recipient of a $2,000 donation fromtheGretzkyprofits. The donation, as we discovered while dropping off the cheque, is doubly appropriate as TD is a national supporter of the Children’s Health Network, which funds children’s hospitals across the country. Healey handed over the cheque to foundation executive director Lynn Sparkes at the Janeway early in the new year.

The Chair of the St. John’s Board of Trade often appears in the pages of The Telegram for many reasons; commenting on govern-ment policy, occasionally a feature on their business or once a year for the 20 Questions feature. But Jo Mark Zurel may have been the only Board chair to appear in thepapertotalkabouttheirfitnessregime. This is a photo featured in The Telegram recently of Jo Mark and his daughter Heather at the summit of Mount Kili-manjaro last summer. Congratulations on reaching your goal Jo Mark.

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Keeping Current


around the board

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Congratulations to Brent Smith, Chief Chocolate Officer and the rest of his team at the Newfoundland Chocolate Company, who were recently awarded with St. John’s Clean and Beautiful’s Golden Broom Award. The award was handed out for the first time to a business owner who takes pride in the presentation and maintenance of their property. Smith was presented the award by St. John’s Clean and Beautiful Chair LeeAnn Montgomery at ceremony at St. John’s City Hall. – Photo courtesy of St. John’s Clean and Beautiful.

ENTER NEW MARKETS?ARE YOU READY TO

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Jamie ClementsB.Sc.

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Sharon SharpeFinancial Centre

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Heather Adams709-589-3361 / 888-589-3361

Jackie HynesFinancial Centre Administrator

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Keith Vincent* CHSFinancial Centre

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Lou Wells*Wells Financial

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Michael Abbott*CA

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Tony McCarthyBA (Ed) M.Ed

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Andrew Young*B.Comm.ext 2229

Kelly IvanyFinancial Centre Administrator

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Sharon PaddickSales Assoc. Advisor

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Membership


mEmbEr NEwS

“You say Goodbye, I say Hello”The St. John’s Board of Trade is sad to announce the departure of Shari Palmer, Manager of Business Affairs and is wishing her much success in her future endeavors. We are, however, pleased to welcome back Lori Coleman who will be assuming the position. Good luck to you both!

Expansion of Jumping Bean They’ve done it again. Jumping Bean has opened another location. The newest shop has opened at Memorial University’s QEII Library, where plenty of students can now enjoy a great cup of coffee while working on assignments, studying, or conversing with friends. This is the third retail space for Jumping Bean, which also recently expanded to the departure gate at the St. John’s International Airport.

Powerful people Members of the St. John’s Board of Trade have been named some of the best employers in Atlantic Canada. Among the 21 companies to be recognized for their ability to recruit and retain employees four of them are our members and located in Newfoundland.Johnson Inc, one of Canada’s leading insuranceandbenefitprovidersmadethe list because of their generous and flexibleoptionsforemployees.The Newfoundland and Labrador Credit Union was given this award due to their generous year-end bonuses; health and

Lori Coleman

retirementbenefits;scholarship programs for employees and their children; vacation time and charitable contributions. North Atlantic Refining Ltd., a subsidiary of the Korea National Oil Corporation and a crudeoilrefinery;also made the list. Technip Canada’s offeringoffinancialbenefits(includingreferral bonuses); ample year-end bonuses; a share purchase plan as well as matching RSP contributions landed them a spot on the list. Mark Surrette, president of executive search firmKnightsbridgeRobertson Surrette, says human resources are one of the most important tools organizations have. He believes that service outshines product, and when organizations are managed

effectively and use human resources appropriately they are granted a greater competitive advantage.

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MembershipmEmbErS NEwS


“Technology can be copied, processes improved upon, flavour replicated,styles enhanced. But nothing can beat a passionate, bright, focused team of employees who want to achieve,” says Mr. Surrette.

Engaging input Memorial University is looking for input. The university’s office of engagement islooking for ways to engage the province and its university. The office has prepareda short survey and hopes to hear from the public, students, faculty and staff about their experiences within Memorial and any suggestions for future growth or improvement. “We really want to engage people openly and creatively in exploring how to build on all the great partnerships Memorial has already. We want the framework to create the conditions for more and better partnerships.” says Rob Greenwood, executive director of the officeof engagement. The survey is available online at the office’s website (www.mun.ca/engagemenoffice’s website (www.mun.ca/engagemenoffice’s website ( t), t), ton its Facebook page (www.facebook.ca/on its Facebook page (www.facebook.ca/on its Facebook page (officeofengagement) and on Twitter (@t) and on Twitter (@tEngageMemorial). The survey can be done anonymously, but respondents also have the option to leave their information for further contact. The survey closes Feb. 17.Deadline approaching for WHSCC Workplace Health & Safety Compensation Commission has mailed out 2011 Annual Employer Statements. In order to qualify for a PRIME refund, and avoid lateness penalties, all statements must be submitted by Feb. 29. Statements can also be submitted online, allowing for immediate confirmation of submissions ina secure environment. A new online service will be available for the 2012 statements, which will also allow accountants and bookkeepers the ability to submit statement for their clients. Employers are still encouraged to use this service for faster, more efficientdata entry and to ensure annual reporting requirements are met. For further information please revise 2011 Annual Employer Statement package or visit www.whscc.nl.ca.

NEw AmbASSAdorS

katie HusseyInside Sales representative Hardware/Software Support

Triware Technologies Inc.

And please turn to pages 12 and 13 to meet your new executive and board.

Alice carterfinancial business Advisor

cIbc

we couldn’t do such successful work without the help of our many volunteers including our Ambassador team.

please welcome our newest Ambassadors when you spot them at board of Trade events.

Shawn brownregional Sales manager

bell Aliant Newfoundland and labrador

Anders JensenAccount manager

Td commercial banking

brenda l. kitchenExecutive director

The Arthritis Society, Nl

lori bragggeneral manager

Jumping bean coffee

MembershipINdUSTry NEwS


Economic growth report The conference Board of Canada has done the math and St. John’s won’t lead the country in economic growth again this year. In fact, the city looks to lag in 2012 compared to its successes over the past two years. Despite a small decline from last year, Saskatoon will lead the country’s economic growth this year with growth topping four per cent – nearly two per cent higher than the Canadian average. “High prices for agricultural products, minerals and oil are likely to continue,” said Mario Lefebvre, director of Quebec affairs and the centre for municipal studies at the Conference Board of Canada. Resource-rich cities are proving to show the biggest rise in expansion rates with Calgary, Edmonton and Regina, also at the top of the list. By 2013 it is estimated that Calgary will lead economic growth.

“The outlook is not as promising for cities in central and Eastern Canada,” says Lefebvre. St. John’s, the leader in the country’s economic growth for 2010 and 2011 will plummet to the bottom of the ranking this year with less than one per cent growth. The next few years are not looking as promising for St. John’s after hitting peak oil. There will be fewer housing starts and the end of infrastructure spending programs will have an impact on growth.

RDC Supports Health Research The Research & Development Corpo-ration (RDC) has announced that it is investing more than $1.6 million in Memorial University’s faculties of Medicine and Science. RDC’s contribu-tion will support 14 health-related R&D projects, allowing researchers to leverage more than a total of $3.5 million from other funding sources, including the

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Canadian Institutes of Health Research (CIHR), the Atlantic Canada Opportunities Agency (ACOA), the Arthritis Society, and Memorial University (including its Genesis Group). In support of health research, RDC partners with CIHR through the Regional Partnership Program to provide additional research funding in Newfoundland and Labrador. CIHR also provides up to $1 million in incremental funding as a result of this partnership. Descriptions of the projects receiving funding and further details of RDC’s academic programs are available online at www.researchnl.com.

Uranium Moratorium Lifted The Nunatsiavut Government has voted to lift the three-year moratorium on the mining, development and production of uranium on Labrador Inuit Lands, which is good news for mining companies like Paladin Energy.

Membership


INdUSTry NEwS Glen Sheppard, Nunatsiavut’s Minister of Lands and Natural Resources, says the government has created The Nunatsiavut Environmental Protection Act which will be enacted by March 9 to acknowledge and target the environmental, land and health concerns that have been raised. “Our Nunatsiavut communities, it’s sad to say, but we have a lot of social problems, and some of those social problems are related to unemployment, and the list could just go on and on. We did see a number ofbeneficiarieswithinNunatsiavut,andevenoutsideNunatsiavutthatdidbenefitfrom the exploration that was going on up until the moratorium became effective,” Sheppard says. Paladin is aiming to start an exploration programandbegindefiningdrillingtargetsby mid 2012.

Pre-Budget Consultations to Begin Finance Minister Tom Marshall has started annual pre-budget consultations. “I look forward to gathering feedback from the people of Newfoundland and Labradoronsomeofthesignificantissuesfacing the province including our debt, fiscalsustainabilityandeconomicdiver-sification”Marshallsays.“Ibelieveitis important that we plan for the type of provincethatwewishtoseeinfive,10or20 years from now and I hope that this is a theme that is brought forward during the consultation process … our non-renewable resources will not last forever and it is criticalthatweleveragethemtothebenefitof all residents of the province today and into the future.”

Pre-budget meeting participants are asked to register 48 hours in advance of the scheduled meeting time by phone, 709-729-2944, or email [email protected] submissions can be made via mail to: Minister of Finance, c/o Pre-Budget 2012 Department of Finance, P.O. Box 8700, St. John’s, NL, A1B 4J6. Submissions may also be e-mailed to [email protected] or faxed to 709-729-2070. A complete schedule for public consulta-tions can be found at www.gov.nl.ca

MembershipmEmbEr profIlES


As the authoritative source of Canadian payroll knowledge, the Canadian

Payroll Association (CPA) delivers programs and services that enable

payroll practitioners, service providers and other business professionals to remain current with regulatory requirements, payroll technology

and industry best practices. The CPA holds more than 350 professional

development seminars across Canada each year to address key payroll topics,

from general to senior management levels. With over 17,000 organization

and individual members, CPA events are both excellent education and invaluable

networking opportunities.

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We help you achieve your goals by givingyouallthebenefitsoftheongoing

and dedicated involvement of a skilled Relationship Manager. This business

banking specialist will take the time to understand your business and then work with you to customize the products and services that best meet your needs. TD

provides business solutions to companies of all sizes. If your business generates

annual revenues of $5,000,000 or more, Commercial Banking can assist you. Our team of experienced specialists located at Commercial Banking Centres across

Canada will work with you to help create a banking solution that supports your

business.140 Water Street, 2nd Floor, St. John’s,

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Bell Aliant (TSX: BA) is one of North America’s largest regional

communications providers and the firstcompanyinCanadatocoveranentirecitywithfibre-to-the-home

(FTTH) technology with its FibreOP™ services. Through its operating entities

it serves customers in six Canadian provinces with innovative information, communication and technology services

including voice, data, Internet, video and value-added business solutions. Bell Aliant’s employees deliver the highest quality of customer service,

choice and convenience.

Jumping Bean Coffee (JBC) is a premium coffee roaster that offers the best blends

and richest single origin coffees available. All our coffee is roasted to order, so

you are guaranteed the freshest possible product. Now you can enjoy premium

coffee that produces 85 per cent less Co2 emissions during roasting. Co2 is a major

contributor to global warming. Serving premium fresh coffee is the cornerstone of JBC’s business. Our roast master selects andimportsthefinestrawcoffeebeansfrom around the world, and roasts them locally. JBC is also a supplier of many

FairTradeCertifiedproducts. JBC is a specialty wholesaler providing its commercial clients with an exclusive product offering of the highest caliber.

Since 1991, our goal at Triware has been to help our clients make the best tech-

nology decisions for their business. With more than 40 industry professionals our

team includes a wide range of experience, training,certificationsandknowledge.Our success has been achieved through

the desire to exceed clients’ expectations.

Productfulfillment,networkandusersupport, communications, collaboration,

security, web strategy and custom applica-tion are the areas we lead the way.

Visit www.triware.ca for more informa-tion.

The Arthritis Society is Canada’s principal health charity providing

vital information and programs to the millions of Canadians with arthritis.

Since 1948, The Society has invested more than $175 million towards innovative research in search of

the causes of, and better treatments for, arthritis. The Arthritis Society’s

Newfoundland and Labrador Division raises funds to support this mission and provides arthritis education and support programs to help people to

better manage and live with arthritis. Its resources include www.arthritis.ca, a toll-free Arthritis Information

Line and an Arthritis Registry which offers members information on arthritis treatments, programs and services and

community events.

Enjoy exclusive deals and

Member-to-Member Discount Program.

For a complete list of member offers or to create an offer for your company, contact Jackie Cumby:

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We see the possibilities.

Vincent Saubestre, executive director,

Oil Sands Leadership Initiativeperformance

partnerships

possibilities

For Suncor Energy, growth brings opportunity and a set of new challenges. The biggest one of all: balancing increased

development with the need to live up to our social and environmental responsibilities, both as an individual company and

collectively as part of Canada’s oil sands industry. We believe the key is collaboration. A great example is the Oil Sands

Leadership Initiative where Suncor works closely with four companies to improve environmental, social and economic

performance in the oil sands industry. With a shared commitment to excellence and innovation, we can work together

to build a more sustainable energy future.

Find out more about Suncor’s track record

and how we are planning to responsibly

develop North America’s energy supply.

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18% reduction in

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50% decrease in GHG

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$1.2 billion actual and

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Suncor_0000_BN_Feb012.indd 1 19/01/12 5:26 PM

Upcoming Events


NETworkINg oN IcE Make new business contacts without having to break the ice! Plenty of fun to be had even if you don’t skate. This is a bring-a-friend event.Bring a non-member and show your staff you appreciate them and introduce them to the St. John’s Board of Trade staff.

Where: Mile One Centre (Gate TBD)When: Fri., Feb. 10, 2012Time: 3 p.m. - 3:50 p.m. Skate 4 p.m. to 5 p.m.Cost: Included in membership

To register contact Wanda at 726-2961 or at [email protected]

cHAIr’S INAUgUrAl rEcEpTIoN Hosted by

We are pleased to invite the whole membership to help us celebrate the inauguration of Steve Power as the incoming Chair of the St. John’s Board of Trade!

Where: Holiday Inn, St. John’sWhen: Wed., Feb. 15, 2012Time: 4:30 - 6:30 p.m. Cost: Included in membership

To register contact Wanda at 726-2961 or at [email protected]

HoST A boArd of TrAdE mIxEr

The St. John’s Board of Trade is offering its members the opportunity to host the Board’s networking socials in 2012. This isagreatopportunitytoprofileyourcompany to members of the Board of Trade. These events give members the chance to network with other members, exchange ideas, do business and meet new friends and colleagues. As a networking host you will provide the following:

A private venue suitable for 75-•150 people

Staff to serve food and beverage•

Complimentary hors d’oeuvres •and cash barAny required AV (i.e. •microphone)A prize giveaway•If providing music, background •music only

The Board of Trade will provide the following:

Promotion of the networking •social Registration•Staff will be there to collect •attendee’s business card for the prize giveaway and will provide the host with all business cards collectedStaff to manage the event and •take picturesA follow up in our Business •News

If you are interested in hosting a business mixer in partnership with the St. John’s Board of Trade please contact Lori Coleman at [email protected] or phone 726-2961 ext.6. We look forward to hearing from you!

lUNcH ANd lEArN

Importing/Exporting? Meet the Expert!

Join us as Michael Carter speaks about the Canada Border Services Agency requirements for exporting and importing. These processes will be discussed:- when export documentation is required, - who is responsible to report the goods to CBSA, - Tariff treatment - and much more.

Where: TBDWhen: Wed., Feb. 8, 2012 Time: Noon – 2 p.m.

Register online or contact Wanda at 726-2961 ext. 9or by email at [email protected]

We see the pressures of a global economy.

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