Sounding Board November 2012

Giving business a strong voice in B.C.

“A region’s economy cannot thrive unless its people, goods and resources can be transported safely and efficiently.” Board of Trade CEO Iain Black, pg. 4

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Ken Martin, chair, The Vancouver Board of Trade

BY KEN MARTIN

The Vancouver Board of Trade is speaking up for British Columbia’s business commu-nity, ensuring small and large businesses across the province have a voice in the 2013-2014 provincial budget consulta-tions.

Last month, our organization made a number of pre-budget recommendations to the Gov-ernment of British Columbia, on behalf of our thousands of members. In a letter to the Select Standing Committee on Finance and Government Services, we outlined our recommendations based on four key priorities: debt reduction, spending re-straint, tax competitiveness, and economic vision.

Those recommendations were developed by The Board of Trade’s Government Budget and Finance Committee, and were shaped in large part by the Bank of Canada’s July Monetary Policy Report. In particular, that report noted that U.S. economic growth remains slow, that most countries in Europe are in a re-cession, and that the previously seen rapid growth rates in China and other major emerging coun-tries are slowing due to policy tightening and weaker demand for exports.

The Vancouver Board of Trade sees unique opportuni-ties for Canada and, more spe-

cifically, for Western Canada, if our priorities are aligned with the factors that best support our vibrant business community.

In these uncertain econom-ic times, we see Canada as a country of choice, particularly given Western Canada’s strong resource sector, our perfect geo-graphic location, and our resil-ient financial system. However, we need to do everything we can to ensure our province remains fiscally resilient, economically competitive, socially respon-sible, and environmentally at-tractive.

With that in mind, The Van-couver Board of Trade is urging the provincial government to take action and reduce its overall debt load.

Our organization is con-cerned that the updated fiscal plan deficit is $1.1 billion, and that the taxpayer-supported debt-to-GDP ratio is forecast to hit 18.3 per cent by 2014-2015. Given that reality, we believe the government must resist the temptation to increase program spending, and that revenues must be allocated to debt reduc-tion, instead.

Our second recommendation is for the provincial government to exercise spending restraint. The Vancouver Board of Trade applauds the province’s com-mitment to achieve a balanced budget in 2013-2014, as well as the implementation of various

austerity measures, which when combined will maintain our all-important AAA-credit rating.

In the letter, we call for the government to conduct a thorough health care spending review and create a well-charted course of action for the coming years. We believe there needs to be sweeping changes to health care spending, and we ask the government to challenge status quo approaches, in an effort to optimize service, streamline processes, and find operational efficiencies.

Our third recommendation focuses on tax competitiveness, which is always a priority for The Vancouver Board of Trade. Business taxes, after all, are one of the key considerations that

influence a business’s decision to invest in a particular location. For that reason, it’s crucial that we remain competitive with countries abroad —as well as other provinces right here in Canada.

With the return to the pro-vincial sales tax scheduled for next April, The Vancouver Board of Trade supports an invest-ment tax credit that would help encourage businesses to set up or stay in B.C. We also strongly encourage the province to not impose any further corporate tax increases or “contingent” tax increases, which would further uncertainty in the investment environment.

And finally, our fourth rec-ommendation is a call for strong leadership — including an eco-nomic vision for B.C. that is realistic and achievable, but also inspiring to British Co-lumbians and internationally enviable. In particular, we’d like to see the government open up new markets for export poten-tial, including natural resource sectors other than natural gas, knowledge-based industries, the transportation industry, and small business.

The Vancouver Board of Trade’s recommendations are made in the spirit of encour-aging the provincial govern-

Board of Trade makes pre-budget recommendations to the provincial government

TURN TO PAGE 15boardoftrade.com

The importance of financial literacy · 3

Message from the President and CEO· 4

Board submits views on PRPP legislation · 5

Trucking and the Gateway Initiative · 5

Canada joins TPP trade negotiations · 6

Dissecting the debate on shark fin soup · 8

Value investment or value trap?· 10

Why serving is the new selling · 11

Time-saving tools to help you stay on track· 13

The business case for web analytics · 15

Coast Capital Savings donates $1M to UBC · 16

BCIT honours its outstanding alumni · 17

THIS ISSUE

@boardoftrade

/VancouverBoardofTrade

PORT METRO VANCOUVER ANNUAL ADDRESS Robin Silvester, President and CEO, Port Metro Vancouver

FRIDAY, DECEMBER 7, 2012

Register now at boardoftrade.com

2 Sounding Board November 20122 events and speakers

The business of analytics

Board of Trade celebrates Community Heroes Nov. 14

The Vancouver Board of Trade and BCIT School of Busi-ness present a half-day forum on business analytics on Thurs-day, Nov. 29 at the Pan Pacific Hotel.

Join us to find out how to use your organization’s data in a more timely and useful fashion to improve growth and profitability. The event will feature a number of speakers with expertise in a variety of sectors, including manufacturing and supply chain management, e-commerce, and retail and consumer services and marketing.

Whether you are a small busi-ness interested in becoming analytics-driven, or a large or-ganization looking create better value or increase your bottom line via better-informed deci-sions, this symposium will give

you the tools, data and know-how you need to achieve your goals.

In addition to breakout session and panel discus-sions, the event will feature t w o k e y n o t e a d d r e s s e s . The breakfast keynote speaker will be Eric Morris, head of search and mobile advertising for Google Canada. The lun-cheon keynote speaker will be Adam Binnie, general manager and global vice president of business intelligence solutions for SAP.

For a full schedule, or to pur-chase tickets to this event, visit www.boardoftrade.com or email [email protected] more information on this topic, turn to page 15 for Eric Morris’s article “Measuring what matters for your business.”

Join in the celebration as The Vancouver Board of Trade rec-ognizes Community Heroes at a special luncheon on Nov. 14.

We are pleased to once again recognize Police Officer of the Year and Firefighter of the Year at this event. We are also pleased to recognize the support of the Mainland BC Military Family Resource Centre to military families and to London Drugs for their support to our com-munity.

These individuals and orga-nizations have demonstrated the best characteristics of com-munity commitment, creativity and volunteerism. Be sure to attend this feel good luncheon and let these hard-working representatives know that you and your company support their efforts.

For more information, includ-ing how to register, visit www.boardoftrade.com or email [email protected].

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EVENTS CALENDAR UPDATEEVENTS CALENDAR UPDATESee our full events calendar at boardoftrade.com

FRIDAY, NOVEMBER 16, 2012

STRENGTH IN NUMBERS: Supporting a healthy economy through financial literacy

11:45 a.m. – 2 p.m.

Hyatt Regency Vancouver — Regency Ballroom

Tracy Redies, President and CEO, Coast Capital Savings

Presenting Sponsor:

Coast Capital Savings

TUESDAY, NOVEMBER 20, 2012

The Company of Young Professionals Development Night Leading Innovation in the Workplace

5:30 – 7 p.m. Renaissance Vancouver Harbourside Hotel

WEDNESDAY, NOVEMBER 21, 2012

Networking Breakfast Series — Orientation and Roundtable

7 – 9 a.m.

Renaissance Vancouver Harbourside Hotel

THURSDAY, NOVEMBER 8, 2012

Members’ Reception at The Copper Chimney

5 – 7 p.m. The Copper Cimney Restaurant and Bar


HEALTHY EMPLOYEES, HEALTHY COMPANIES: A new national standard for psychological health and safety in the workplace

11:45 a.m. – 2 p.m. Pan Pacific Vancouver — Crystal Pavilion

The Honourable Lisa Raitt, Minister of Labour, Government of Canada

Presenting Sponsor: British Columbia Maritime Employers Association Supporting Sponsor: FMC - Law


The Vancouver Board of Trade’s Community Heroes Luncheon

11:15 a.m. – 2 p.m.

Hyatt Regency Vancouver — Regency Ballroom

POLICE OFFICER OF THE YEAR Sgt. Bill Rattray

FIREFIGHTER OF THE YEAR Jayson Shalist

NON-PROFIT COMMUNITY HERO Mainland BC Military Family Resource Centre

CORPORATE COMMUNITY HERO: London Drugs

Presenting Sponsor: Rogers Awards Sponsor: ICBC


STAYING ON TRACK: Public transportation priorities for Metro Vancouver

7:15 - 9 a.m. Fairmont Pacific Rim — Star Sapphire Ballroom

Ian Jarvis, CEO, TransLink

Presenting Sponsor: TransLink


Pacific Gateway Forum 2012

7 a.m. – 2 p.m. Fairmont Pacific Rim — Star Sapphire Ballroom

BREAKFAST KEYNOTE Mary Polak, Minister of Transportation, Government of B.C.

LUNCH KEYNOTE Claude Mongeau, President and Chief Executive Officer, CN

Pan Pacific Vancouver — Crystal Pavilion

Title Sponsor: CN Presenting Sponsor: YVR Partner Sponsor: Port Metro Vancouver Supporting Sponsors: BCMEA, SFU Beedie School of Business — Jack Austin Centre for Asia

Pacific Studies

THURSDAY, NOVEMBER 8, 2012

Members’ Reception at EdgeCeptional Catering

5 – 7 p.m. The Edge Cafe

TALK TO US!What speaker, topic or issue do you want explored? We’ll look into it. E-mail: [email protected]


Vancouver Board of Trade and BCIT team up for half-day forum on Nov. 29

3November 2012 Sounding Board

BY TRACY REDIES

November is Financial Lit-eracy Month and it’s also the penultimate month of a year that has seen a continuing slowdown of economies around the world. And while the factors influenc-ing economic growth are indeed myriad and complex, increased financial literacy has the poten-tial to strengthen our Canadian economy, enable entrepreneur-ship and drive growth in the busi-ness sector.

We know that broader mac-roeconomic realities impact the wallets and financial behaviour of individuals. But conversely, when individuals and families have a sound financial base, it has a spillover effect into the larger economy.

As consumers develop good money knowledge and skills, the byproduct is increased financial confidence and ability to partici-pate in the economy, whether it’s through sound purchasing deci-sions or as entrepreneurs.

Let’s take a couple, Ken and Karen Smith, for example. Karen has lost her job so the family now depends solely on Ken’s income

and with a mortgage and a family of four, finances are tight. To make matters worse, Ken and Karen don’t have a good handle on their spending. They don’t have a family budget and have very little by way of investments. But with the help

of their financial institution, they begin to work on improving the way they manage, save, protect and grow their money.

To lay a foundation for their financial future, the couple begins by developing and implement-ing a realistic budget, focusing on needs and cutting down on wants. With renewed financial discipline and encouragement from their financial advisor, they begin to set aside some money each month that Karen intends to use to launch a courier business. Karen’s financial advisor helps her develop a sound business plan and apply for a loan to supple-ment her savings so she can move faster towards her dream of self-

employment. A year after approaching their

credit union for help, Ken and Karen are not just in a much better personal financial situ-ation; Karen’s courier business is thriving and supporting the

economy by providing jobs to three employees on her payroll.

Financial institutions can obviously take the lead when it comes to passing on financial literacy to the population and we have the opportunity to do more on this front (and not just in No-vember, but every day!)

I believe one of the challenges banks and credit unions face in this effort is the unfortunate im-pression that the world of financ-es is overly complicated and that you need to possess the money smarts of a Warren Buffet to make any headway. That’s why we’ve taken an innovative approach to financial literacy at Coast Capital Savings, with our Where You’re At

Money Chat, that takes customers through a series of simple steps aimed at guiding them towards increased financial health.

But when it comes to financial literacy, we all have important roles to play, as individuals, as parents, and as business owners. If you find that staying on top of your personal finances has become a bit like herding cats, talk to your financial institution. They can point you to helpful resources and the consultation is free.

Also, engage your children from an early age in financial education, teaching them basic money-related concepts and dis-ciplines. These early foundations can last a lifetime. And, if you are a business owner with employees, take the opportunity to promote financial education among your staff. This is probably one of the best investments you can make in your team, yielding a positive impact beyond a pay cheque.

As we focus on financial liter-acy this November, let’s all do our part to build on our own money skills (I will share some helpful tips tailored to business owners at my upcoming presentation to

The Vancouver Board of Trade). Let’s also help others do the

same. The result will be increased financial prosperity for individu-als and families and it will gener-ate benefits to our economy.

Tracy Redies is President and CEO of Coast Capital Savings. She will share more on this topic in her November 16 presentation to The Vancouver Board of Trade. For more information, including how to register, visit www.boardof-trade.com or email [email protected].

3events and speakers

Financial literacy helps boost the economy and entrepreneurship

Discover the ideas and trends that will shape the future of marketing at upcoming conference

On Nov. 27, thousands of pro-fessionals from across Canada will gather in Vancouver to discover the ideas and trends shaping the future of marketing.

This one-day conference fea-tures five bestselling authors and leaders, who will share an excit-ing blend of cutting-edge think-ing and real world experience on today’s most critical marketing issues. As a partner, The Vancou-ver Board of Trade invites you to The Art of Marketing Conference with keynote speaker Biz Stone, co-founder of Twitter.

Stone has been named Nerd of the Year by GQ and one of

most influential people in the world by TIME. The name Biz Stone means different things to different people, but the main thrust of his work over the past decade plus has been developing collaborative web systems freely accessed by hundreds of millions of people worldwide.

As a progenitor of the early social web, Stone became an Internet entrepreneur in 1999 and went on to work for Google. Later, Stone co-founded Twitter, which launched in 2006. In June of 2011, with his long time collab-orators Evan Williams and Jason Goldman, Stone co-founded The

Obvious Corporation to focus on building systems that help people work together to improve the world.

An adamant believer that when we help others, we also help ourselves, Stone supports a new way of doing business with a higher level of ambition, and a better, more altruistic way to measure success. Beyond im-mediate needs, Stone advocates selflessness; insisting we follow this path in order to deliver deeper meaning in our work and in so doing, place value before profit.

Stone and his wife, Livia,

were named Huffington Post Game Changers for their work and impact in the field of public service. Together, the couple op-erates The Biz and Livia Stone Foundation supporting educa-tion and conservation in Califor-nia. Stone is an advisor to several companies and organizations and a visiting scholar at various universities.

For more information on The Art of Marketing, visit www.email.theartof.com/KV12/VBOT.html or email [email protected]. Members of The Vancouver Board of Trade can save up to $100 by using the promo code VBOT.

Tracy Redies, President and CEO, Coast Capital Savings

Biz Stone, co-founder, Twitter

Coast Capital Savings CEO to share tips tailored to B.C. business owners during Nov. 16 address to The Vancouver Board of Trade

Vancouver Board of Trade members receive special discount for event featuring Twitter co-founder Biz Stone

“When individuals and families have a sound financial base, it has a spillover effect into the larger economy.”

president and CEO’s message

PUBLISHER: Business in Vancouver Media Group

EDITOR: Greg Hoekstra, 604-640-5450

ADVERTISING SALES: Katherine Butler, 604-608-5158

DESIGN: Business in Vancouver Media Group

As the official publication of The Vancouver Board of Trade, the Sounding Board newspaper provides analysis and discussion of regional and national issues facing the business community, along with input from member companies, allowing them to raise their profile in the business community.

Sounding Board is published 12 times per year by Business in Vancouver Media Group in partnership with The Vancouver Board of Trade.

Sounding Board is read by leading business executives and their employees. The paper has a primary circulation of 12,500 and a conservatively estimated total readership of 37,500.

ABOUT THE VANCOUVER BOARD OF TRADEThe Vancouver Board of Trade is Vancouver’s chamber of commerce. Since 1887, The Board of Trade has been an active proponent of business in Vancouver. The World Trade Centre Vancouver is the international division of The Vancouver Board of Trade and is affiliated with more than 300 WTCs worldwide.

OUR MISSION STATEMENT The Vancouver Board of Trade works in the enlightened interest of its members to promote, enhance and facilitate the development of the region as a Pacific centre for trade, commerce and travel.

OUR BASIC PRINCIPLES The Board of Trade believes that the market system is the only system that works effectively in the allocation of scarce economic resources for efficient and stable economic growth and job creation. The Board of Trade recognizes the imperfections of the market system and supports the need for publicly provided services such as social services, health services and public education. The Board supports the philosophy of less government involvement in the business sector and believes that governments should not do what can be done in whole or in part by the private sector.

PUBLICATIONS MAIL AGREEMENT No. 40011551The Vancouver Board of Trade, World Trade Centre Suite 400, 999 Canada Place Vancouver, B.C. V6C 3E1 [email protected]

BOARD OF DIRECTORS 2012-2013

EXECUTIVE COMMITTEEChair Ken Martin

President and Chief Executive Officer Pacific Blue Cross

Senior Vice-Chair Elio Luongo Canadian Managing Partner — Tax KPMG LLP

Vice-Chair Janet Austin Chief Executive Officer YWCA Metro Vancouver

Vice-Chair Ray Williams President Ray Williams Associates

Secretary-Treasurer George Cadman, QC Shareholder Boughton Law Corporation

Finance and Audit Committee Chair Jon Schubert Chief Executive Officer ICBC

Policy Council Chair Robin Silvester President and Chief Executive Officer Port Metro Vancouver

Immediate Past Chair Wendy Lisogar-Cocchia President and Chief Executive Officer Century Plaza Hotel & Spa, Absolute Spa Group

Member at large Tim Manning Regional VP, Commercial Financial Services RBC Royal Bank

Member at large John Nightingale President and Chief Executive Officer Vancouver Aquarium

Member at large Tamara Vrooman Chief Executive Officer Vancity

BOARD OF DIRECTORS

Kevin Bent Pacific Newspaper GroupDave Cunningham Telus Corporation

Lara Dauphinee Fiore Financial Corporation, Fiore GroupMary Anne Davidson Acciona Infrastructures Canada

Maninder Dhaliwal TrucasaAnne Giardini Weyerhaeuser Company Limited

Calvin Helin RCI Capital Group, Inc.Craig Hemer Odgers Berndtson

Robin Hemmingsen BCIT School of BusinessDavid Hoff Ledcor

Terry Hui Concord Pacific Developments Inc.Richard Jaffray Cactus Restaurants Ltd.

Moray Keith Dueck Auto GroupSacha McLean Blackcomb Aviation LPTracy McVicar CAI Capital Management

Evi Mustel Mustel GroupGordon Nelson Rogers Communications GroupDavid M. Poole Scotiabank

Jatinder Rai Response Advertising Inc.Elise Rees Ernst & Young LLP

Dr. Mark SchonfeldDennis Skulsky BC Lions Football Club

Lorne Segal Kingswood Properties Ltd.Ron W. Thiessen Hunter Dickinson Inc.

Denise Turner TitanStar Group of Companies

Transportation is critical for our economic prosperity

BY IAIN BLACK

It was May 1887 when the first transcontinental train ambled its way into Vancouver, decorated with flags, a large photo of Queen Victoria, and a banner that boldly declared, “From Ocean to Ocean – Our National Highway.”

As Canadian Pacific Railway locomotive #347 chugged to a halt at its terminus station along the Burrard Inlet, it was met with much fanfare. Passengers were greeted by cheering onlookers, local dignitaries gave speeches, and a band played a rousing version of “See, the Conquering Hero Comes.”

The arrival of the train was her-alded for a number of reasons. For one, the locomotive connected the small community – inhabited by only 1,000 people at the time – to the rest of Canada. But perhaps more importantly, the train laid the foundation for Vancouver to take its place as Canada’s gateway to the Pacific.

The impact of the new trans-portation network was felt almost immediately. Within a month of the train’s arrival, the S.S. Abys-sinia sailed into Vancouver’s ports from Japan, carrying a cargo of tea, silk, and mail bound for London. It was one of the first shipments to arrive in Vancouver from Asia, but it blazed a trail across the Pacific Ocean that would become increasingly more trafficked in the years to follow.

Another three months later, an organization called The Vancou-ver Board of Trade was formed by 31 merchants, lumbermen, bankers, and manufacturers, with a mission to “advance the trade of the area and to promote the ad-vancement and general prosperity of Vancouver.”

It should come as no sur-prise that many of this organiza-tion’s key policy initiatives in the twelve and a half decades since have focused on forging and strengthening B.C.’s transporta-tion network.

That’s because smart business-people – be they 1880s lumberjacks or 21st century CEOs – understand that a region’s economy cannot thrive unless its people, goods and resources can be transported safely and efficiently.

Our organization is very proud of its transportation-related ac-complishments over the past 125 years. For example, through its policy work, The Vancouver

Board of Trade convinced the federal government to dredge the First Narrows for shipping near the beginning of World War I, it supported the development of the Trans-Canada Highway in the 1940s, it called for a metro transit authority in the 1960s, and it paved the way for both the Vancouver International Airport Authority and expedited border lanes – known today as NEXUS – in the early 1990s

In addition, one of this or-ganization’s most celebrated achievements came in 2004, when it formed a coalition and suc-

cessfully demanded a re-vote by the TransLink board of directors that saved the then controversial Richmond-Airport-Vancouver rapid transit line – known today as the Canada Line.

All of these initiatives reflect our continued belief that trans-portation is critical to British Co-lumbia’s economic success on the world stage — and that’s reflected in what we see happening today.

In the years since the S.S. Ab-yssinia docked in Burrard Inlet, Port Metro Vancouver has grown to become Canada’s largest and busiest port, welcoming more than 3,000 different vessels each year and facilitating the movement of goods worth more than $200 million in and out of the harbour each day. Vancouver International Airport is now Canada’s second busiest airport, with more than 17

million passengers and 223,900 tonnes of cargo passing through its facilities each year.

The rail industry continues to play a critical role, connecting Canadian provinces and industry to B.C.’s ports, which are three days closer to Asian markets than any other port in North America. Meanwhile, trucks make nearly half a million crossings at B.C.’s borders each year, moving goods to and from the United States.

The fact is, our transportation system is doing exceptionally well. However, B.C.’s economic landscape is shifting beneath our feet. Demand in Asia for our metals, minerals, forest prod-ucts and agri-foods is growing exponentially, which is causing transportation providers to adapt and evolve.

Central to those efforts is the Asia-Pacific Gateway Initiative, which we will examine in great detail at The Vancouver Board of Trade’s annual Pacific Gateway Forum on Nov. 7. The half-day forum will feature a breakfast keynote by the Honourable Mary Polak, B.C.’s Minister of Transpor-tation and Infrastructure, and a lunch keynote by Claude Mongeau, President and CEO of CN.

That topic is sure to surface

again one month later, on Dec. 7 when Robin Silvester, President and CEO of Port Metro Vancou-ver, gives his annual address to The Vancouver Board of Trade.

On Nov. 6, we’ll take a closer look at the movement of people in the Lower Mainland, when Trans-Link CEO Ian Jarvis discusses Metro Vancouver’s public transit priorities in the face of looming funding cutbacks.

We hope you are able to join us for these upcoming events, which promise to explore issues that are paramount to the success of Van-couver’s business community.

Iain Black is President and CEO of The Vancouver Board of Trade. Follow Iain’s personal comments on Twitter at @iainblack_vbot and The Vancouver Board of Trade’s official Twitter feed at @board-oftrade.

Iain Black, President and CEO, The Vancouver Board of Trade

“B.C.’s economic landscape is shifting beneath our feet. Demand in Asia for our metals, minerals, forest products and agri-foods is growing exponentially, which is causing transportation providers to adapt and evolve.”

5November 2012 Sounding Board 5member news

Board submits views on PRPP legislation

BY GREG HOEKSTRA

The Vancouver Board of Tradehas submitted its views on Pooled Registered Pension Plan (PRPP) leg-islation to the Province of British Columbia.

In a letter to Finance Minister Mike de Jong, Vancouver Board of Trade CEO Iain Black outlined a number of recommendations for the government’s consideration, in the event that B.C. decides to draft PRPP legislation.

“B.C. and Canada’s long-term tax competitiveness with other jurisdictions is paramount in The Vancouver Board of Trade’s policy drafting process. With that in mind, The Vancouver Board of Trade does acknowledge the ‘grey tsunami,’ which will lead to increased pres-sure on programs ranging from CPP to health care, with propor-tionately fewer contributors,” wrote Black.

“This ‘looming financial squeeze’ will increase the pressure on governments to keep these pro-grams funded. Hence, measures that encourage people to save for their retirement will help offset

reliance on the public system and reduce the pressure to increase taxes.”

Black said The Vancouver Board of Trade would endorse the prov-ince adopting PRPP legislation if a list of 10 criteria were met.

For example, The Board of Trade would support PRPP legislation if organizations with fewer than three employees — not related — were exempted from offering; if compa-nies were not required to provide access to PRPPs for shareholders of the company owning 10 per cent or more of the shares; and if there were a three-year phase in period.

Above all, PRPPs need to have little administrative or cost burden and be easy for employees to un-derstand, stressed Black.

“Our endorsement is both con-ceptual and conditional in nature,” Black concluded. “We anticipate the completion and circulation of a comprehensive plan, and we hope you will continue to engage us in the ongoing dialogue and consulta-tion on this important matter.”

To read The Board of Trade’s full list of criteria, download the letter at www.boardoftrade.com.

Chetwynd is located in the foothills of the eastern slope of the Rocky Mountains and is British Columbia’s entrance to, and exit from, the energetic Peace River country. Situated at the junction of Highways 97 and 29 and the BC Rail mainline; Chetwynd is the natural transportation hub of the Peace River area.

Chetwynd is a great place to live. The community has homes for all ages and income levels, a variety of neighbourhoods and attractive parks throughout the city. The best news about living here: it’s very affordable.

Demand for new residential lots is at the highest it has been in many years. Local developers and builders are actively working at satisfying the demand for new lots with development of several new subdivisions in the works.

The area is well known for its breathtaking scenery and countryside. The surrounding area offers mountains for hiking and skiing; lakes and rivers for swimming, canoeing and fishing, and a countryside and park system with some of the best camping, snowmobiling, hunting and wildlife spotting in Canada. The region has a diverse history, ranging from 90 million year old dinosaur tracks to the world famous World War II era Alaska Highway; hundreds of years of First Nations history and a century of European homestead history.

Chetwynd

C O M M U N I T Y C A R V E D B Y S U C C E S S

Recent announcements for increased production from local coal mines, the resumption of wind project development, steady growth in the Montney gas field and the resurgence in the local forest industry have resulted in low unemployment levels. All our industries are recovering at the same rate, which has resulted in Chetwynd posting one of the fastest growing economies in BC.

When not working, Chetwynd residents take the time to enjoy the peace and serenity of the rural and wilderness areas, or, when choosing to stay in the community, take advantage of our urban amenities.

The newly expanded Chetwynd Recreation Centre offers swimming in the wave pool, skating in the arena or working out in the newly renovated fitness centre, just to name a few of the activities. Hunt and fish in the fall, hike, play baseball or explore our hiking trail system. During the winter, skiing is a short one hour drive to Powder King Ski Resort or you can visit our mountains for an exhilarating snowmobile ride. Chetwynd offers a variety of adventure experiences that are sure to thrill your senses and leave you wanting more!

“If you are looking to enjoy the quality of life in a friendly, vibrant community

with the amenities of a larger centre, Chetwynd is the place to be!”

a four season playground with an abundance of activities for all ages

recreation complex: curling rink, skating oval, ice arena, skateboard park, sports fields, fitness centre, track, weight room, racquet courts & climbing wall

leisure pool: wave pool, waterslide, sauna, hot tub

developed mountain biking and hiking trails

home to the annual Chetwynd International Chainsaw Carving Competition

QUALITY OF LIFEWhat makes Chetwynd a great place to live?

Chetwynd Chamber of Commerce and Visitor Centrewww.chetwyndchamber.ca

Education State-of-the-art education is provided through School District #59 (Peace River South) and Northern Lights College.www.chetwynd.bclibrary.ca | www.sd59.bc.ca | www.nlc.bc.ca

Health CareNorthern Health Authority is responsible for the delivery of health care across Northern BC. A team of physicians provide care at the Chetwynd Hospital and Health Centre - a 12 bed facility with acute and long-term care beds. www.northernhealth.ca

COMMUNITY SERVICES

T: 250 401 4113 E: [email protected]

Asia-Pacific Gateway Initiative requires strong partnerships: B.C. Trucking Association

BY LOUISE YAKO

The British Columbia Truck-ing Association (BCTA) considers the Asia-Pacific Gateway initiative an unprecedented opportunity for the trucking industry to benefit from Canada’s growing trade with Asia.

Now that the majority of the significant Gateway infrastructure projects have been or are nearly completed, we need to focus our attention on how best to make use of the investments made by our governments and organize our transportation and logistics systems to maximize B.C.’s geo-graphic advantage.

Our location in terms of Asia-Pacific trade has already helped us. B.C.’s exports reportedly grew in 2011 by more than 14 per cent, to $32.8 billion, and for the first time, more went to countries

in the Pacific Rim than the U.S. With exports projected to increase through to 2020, B.C. must be ready for more – and more ef-ficient – goods movement via the entire transportation network. Since trucks link together all other transportation modes in the supply chain – rail, marine and air – truck traffic will also increase.

Accommodating growing trade through the Gateway is going to be a greater challenge than building roads and bridges, because it will involve literally hundreds of companies – freight forwarders, transloaders, export-ers, importers, marine container terminals, shipping lines and trucking companies – committing to more efficient co-ordination and co-operation as a system rather than focusing solely on internal productivity.

This change will also require

the support of local communities, since even an efficient, coordi-nated system simply will not be able to accommodate projected volumes during the course of “normal” business hours.

Although road and bridge upgrades in the Lower Mainland are often described as solutions to general traffic congestion, they form the backbone of a stream-lined, reliable goods movement network.

Unless partners in the Gateway transportation system can use that network optimally, the payback from infrastructure development will be less than what we’d hope for. Asia-Pacific trade represents an unprecedented opportunity, but we will need to work hard to capitalize upon it.

Louise Yako is President and CEO of the British Columbia Trucking Association.

On Nov. 7, The Vancouver Board of Trade will host the Pacific Gateway Forum 2012. The half-day forum will feature two panel discussions as well as keynote addresses by Mary Polak, B.C.’s Minister of Transportation and Infrastructure, and Claude Mongeau, President and Chief Executive Officer, CN. For more information visit www.boardoftrade.com.

6 Sounding Board November 20126 member news

BY PETER G. HALL

Productivity growth is key to Canada’s future. It ranks as a top economic priority for busi-ness, government and indeed, the general public, as well it should. After all, together with the labour force and our national capital stock, it’s one of the three founda-tional economic pillars. Not one of them is in great shape – adding up their collective trend performance gives future growth of as little as 1.5 per cent. An about-face in productivity growth could change the picture for the better – but is it likely?

Since 1996, OECD labour productivity has grown 1.5 per cent annually. At the same time, Canada’s average growth was 0.9 per cent. That’s just half the US pace, opening up a 15 per cent productivity gap over the past 16 years. Our inferior growth at best suggests considerable room for improvement, and at worst poses a substantial threat to our long-run competitiveness.

Are we already seeing the effects? Our thin, one per cent annual export growth record since 2000 seems to suggest so, but productivity performance at least

shares the blame with the surging loonie. Indeed, recent currency stability has vastly improved sales to our traditional customers. Also, in the face of dollar duress, Cana-dians successfully ventured into fast-growing emerging markets, lifting their share of total exports from just 4 per cent to 11 per cent in under a decade.

As impressive as this is, we are falling behind the rest of the world. Other OECD nations are outpac-ing our annual growth by five percentage points annually. More recently, Canada has been keeping pace, but can we maintain it? Pro-ductivity growth is key, and many remedies have been prescribed. It’s possible in all the debate that we are looking too hard for solutions on the inside.

Efficiency in a globalizing world means thinking about innovation not just at the product or process levels, but also in terms of the global allocation of production. Innovative firms are diversifying production globally, with great results. Increased efficiency vastly increases market potential. Higher sales raise the requirement for head office support – higher value-added positions that pay well. Pro-ductivity gains in such a scenario

are simple math – higher output per worker in the home country.

Do the data support the ar-gument? Look at the countries that have embraced this model. The U.S. has myriad multina-tional firms, with foreign affili-ate sales three times the level of exports. U.K. firms have foreign affiliate sales five times higher than exports. Both nations boast supe-rior productivity growth. Others that follow the model aren’t sport-ing the same productivity stats, suggesting that extensive interna-tional operations are necessary but not sufficient to achieving higher productivity.

Although on an up-trend, Can-ada’s foreign affiliate sales ratio is just 1:1. A more extensive offshore production platform could give productivity a needed boost. Such a move would not be at the cost of good, existing Canadian jobs.

The bottom line? There is no question about the importance of productivity to Canada’s future competitiveness. But whether we embrace the importation of pro-ductivity remains to be seen.

Peter G. Hall is vice-president and chief economist for Export Development Canada. For more information, visit www.edc.ca.

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Importing productivity Canada formally joins Trans-Pacific Partnership negotiations

The federal government has formally joined the Trans-Pacific Partnership trade negotiations, following the completion of mandatory domestic consulta-tions.

In doing so, Canada is now one of 11 countries considering the trade agreement, alongside Mexico, the United States, Aus-tralia, New Zealand, Brunei, Chile, Malaysia, Peru, Singa-pore, and Vietnam.

James Moore, Minister of Canadian Heritage and Official Languages, made the announce-ment last month on behalf of Ed Fast, Minister of International Trade and Minister for the Asia-Pacific Gateway.

“Joining the TPP is an im-portant step forward in our gov-ernment’s active and growing presence in the Asia-Pacific region,” said Moore.

“The region is a priority market for Canadian business-es, offering enormous opportu-nities to our exporters.”

“Canada is pleased to be formally joining the TPP nego-tiations,” added Fast. “Joining the TPP is good news for hard-

working Canadian families. Opening new markets and in-creasing Canadian exports to fast-growing markets through-out the Asia-Pacific region is a key part of our government’s plan to create jobs, growth and long-term prosperity.

“We look forward to helping develop a 21st-century agree-ment that advances Canadian interests.”

In the past six years the federal government has con-cluded trade agreements with nine countries, including Co-lombia, Honduras, Jordan, Panama, Peru, and the Eu-ropean Free Trade Associa-tion member states of Iceland, Liechtenstein, Norway and Switzerland.

Canada has also begun deep-ening trade and investment ties with the largest markets in the world, including the European Union, India and Japan.

For more information on the Trans-Pacific Partnership, visit the Ministry of Foreign Affairs and International Trade’s website at www.international.gc.ca.

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To vaccinate or not… that is the questionBY DR. PAUL VAN BUYNDER

Every year about 1.5 million workdays are lost because of it, health care costs and produc-tivity losses amount to over $1 billion dollars as a result of it, and anywhere from 2, 000 to 8,000 Canadians die from it.

“It” is the flu and too many of us are not taking this highly contagious respiratory disease seriously enough.

O v e r t h e c o u r s e o f m y career, I have seen firsthand t h e d e va s t a t -ing effect this d i s e a s e c a n h a v e o n t h e most vulnerable members of our society, namely the elderly and young children.

People still believe that in-fluenza is a mild illness because they don’t differentiate between

mild winter viruses and the much more serious influenza disease.

So what can you, as busi-ness owners and individuals in positions of management, do to mitigate the effects of the flu on your workforce?

Hand-washing, sneezing into your elbow or arm are all important, but the single most effective means of preventing the flu is immunization.

As the Chief Medical Officer for the Fraser Health Authority, I’ve heard it all when it comes to reasons not to vaccinate: “I’ve never had the flu shot, and I’ve

never been sick,” or “the flu shot causes the flu” or “I’ve had the flu shot and still got the flu.”

These myths only compli-cate what I believe to be a very simple truth — the only way to effectively reduce the impact of the flu on your workforce is to get vaccinated.

Vaccination of healthy adults has resulted in decreased work absenteeism and decreased use of health-care resources, includ-

ing the use of antibiotics.

E a c h y e a r t h e f l u v i r u s m u t a t e s a n d changes. The s t r a i n s y o u may have been immune to last

year, may not be the ones going around this year. The only way to be sure to be protected is to get a flu shot every year.

An important fact to remem-

ber is that the vaccine is highly effective (70 to 90 per cent) but it is not 100 per cent effective. People who do get influenza despite being vaccinated often have a milder case than those who did not get the shot.

As well, the influenza vaccine does not protect against other viruses and bacteria that can also cause other respiratory infections, which are often mis-taken for the flu.

Finally, as for the belief that the vaccine “causes” the flu – it does not contain any of the live viruses, so this is simply impos-sible.

For more information, in-cluding the truth about influ-enza and the flu shot, visit our website at www.fraserhealth.ca/your_health/immunization/flu_shots.

Remember, each year influ-enza causes serious complica-tions, including death, for many British Columbians.

Isn’t it time we all work to-gether to make a difference?

Dr. Paul Van Buynder is Chief Medical Health Officer of Fraser Health Authority.

“People still believe that influenza is a mild illness because they don’t differentiate between mild winter viruses and the much more serious influenza disease.”

Dr. Paul Van Buynder, Chief Medical Officer, Fraser Health Authority

Now more than ever, Cana-dians are talking about mental h e a l t h a n d h o p i n g t o s e e changes in the system. Mental health issues are the leading cause of both short and longterm disabilities in Canada, with the economic cost estimated to be $51 billion — including almost $20 billion from work-place losses.

On Nov. 13, The Honourable Lisa Raitt, Canada’s Minister of Labour, will discuss the recent launch of the National Standard for Psychological Health and Safety in the Workplace.

Developed by the Mental Health Commission of Canada, this voluntary standard will provide systematic guidelines for Canadian employers across the country to enable them to develop and continuously improve psychologically healthy and safe work environments for their employees.

This dynamic and informa-tive presentation will focus on how Canadian employers can take steps to prevent mental injury, reduce psychological risk and promote a mentally healthier workplace.

Don’t miss this opportunity to learn about this new stan-dard and how to address the increasing business impact of workplace psychological health and safety.

Register online at www.boar-doftrade.com or email [email protected].

Government of Canada

Federal labour minister discusses the launch of a new national standard for psychological health and safety in the workplace

Healthy employees are the key to healthy companies

Cultural changing tidesThe time has come to question harmful traditions such as shark fin soup

BY MARTIN D. DONNER

AND JULIE A. BOGLE

Traditions are important to the preservation of culture and a sense of identity, but traditions and the manner in which they are observed often changes, as we are seeing with the serving of shark fin soup.

Serving shark fin soup at ban-quets or special occasions likely originated more than a thousand years ago when the Emperor served shark fin soup to impress his guests with his wealth and power. It is also popular because in the Chinese culture, serving an expensive deli-cacy like shark fin soup has been a common way to share one’s good fortune.

Today, shark fin soup is served around the world at hundreds of thousands of weddings, engage-ment parties, graduations and other celebratory meals. Over the last two decades, the demand for sharks’ fins has increased dramati-cally as the number of “nouveau riche” of Chinese ancestry has also increased.

Tens of millions of sharks are killed every year merely for their fins. Nearly one-third of all shark species are facing extinction. If the manner in which this tradition is observed is not changed soon, continuing to observe this tradi-tion will irretrievably damage the world’s marine ecosystem.

If the tradition of serving shark fin soup is seen as choosing an appropriate or acceptable way to acknowledge our accomplish-ments (including the attainment of wealth), to show respect for our guests and to share our good fortune, then there are many ways to do this “fin-free.” More and more young couples are choosing to do exactly that.

Several jurisdictions have already banned the sale, trade, distribution or possession of shark fins, including some in the Lower Mainland. While these efforts have been applauded by many, some are opposed to these bans, and it appears litigation may result based on claims of “cultural discrimina-tion” aimed at Chinese people.

The outcome of that litigation remains to be seen, but it likely will not help the case of the “tradi-tionalists” objecting to the ban that recently the Chinese government itself announced its intention to ban shark fin soup from the menu at official state banquets.

A progressive society evolves as it learns from its past. Often we are not aware of the harm caused by our traditions or customs until others make us aware or we receive pressure we can no longer ignore. For example, it is now more presti-gious (and acceptable) for women to wear “faux-fur” than real fur, and smoking is now banned in offices

and restaurants. While behavioural changes like

these did not happen overnight, what they have in common with the banning of shark fin soup is that initially they were resisted.

Our global community is recog-nizing that sharks are more valu-able to mankind when they are in the ocean, rather than when they are in a bowl of soup. Alternatives to shark fin soup include eating other “imperial” foods like abalone, sea cucumber and fish maw. These not only show your wealth, but are also good for your health. For those wishing to serve an alternate “shark fin” soup at a wedding, there are numerous “sans fin” soup recipes, or ones with “faux” shark fin. Do-nations can be given for wedding favours, which illustrates prosperity and shares one’s wealth with others, both of which are important parts of the origin of the tradition.

As we continue to progress, there is sure to be another similar issue. Understanding the history behind a cultural practice is often more important than blindly abiding by the tradition. That understanding will help find appropriate ways to achieve the same purpose served by the tradition.

Martin Donner is a senior counsel at Borden Ladner Gervais LLP (BLG) and the former Chair of BLG’s Asia Pacific Team. Julie Bogle is a summer articling student at BLG.

Pacific Blue Cross’s Community Con-nection Health Foundation is committed to making a meaningful and healthy dif-ference in the lives of British Columbians, with a particular focus on mental health promotion and chronic disease preven-tion.

Recently, Pacific Blue Cross delved into the world of psychiatric care. The company toured local psychiatric units and learned about the many efforts underway to enable better care. They saw large holes in the ground where new facilities will be built, and learned about the chronic issues affecting these facilities, such as boredom, discomfort and lack of privacy. So, they asked what they could do to help.

A ping pong table might not seem like a great investment in patient care, but according to Dr. Allan Burgmann, a psychiatrist at Lions Gate Hospital, the opposite is true:

“This kind of investment [lifestyle and recreation equipment] in our services is extremely important because clients tend to require longer stays in our acute mental health unit than your typical patient

at an acute medical unit, and we know that improving our patient environment can result in better care outcomes,” says Burgmann.

This sentiment was echoed by psy-chiatrists at Royal Columbian Hospital. There, funding from Pacific Blue Cross helped create a private room for family meetings and funded a new entertainment unit. When Pacific Blue Cross employees learned the patients would be short on videos, they donated boxes of DVDs to help keep the patients entertained.

Pacific Blue Cross is also the first cor-porate sponsor to publicly announce our support for the new Vancouver General Hospital psychiatric building, and quick to respond to a call for support from Nanaimo Regional Hospital.

To date, Pacific Blue Cross has provided funding for Nanaimo Regional Hospital, Vancouver General Hospital, Royal Co-lumbian Hospital, and Lions Gate Hos-pital through its Community Connection Health Foundation.

For more information, visit www.pac.bluecross.ca.

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BC Securities Commission unveils outreach program

Brenda Leong, Chair and CEO of the BC Securities Commission, addressed The Vancouver Board of Trade on Oct. 30. Learn more about the BCSC’s Be Fraud Aware campaign at www.befraudaware.ca.

The BC Securities Commission has developed a new financial literacy out-reach program, saveSMART InvestRight, which teaches practical money manage-ment for the 18 to 80 set. The BCSC is launching saveSMART to mark November as Financial Literacy Month.

“saveSMART is a new 90 minute work-shop developed by the BCSC for adult au-diences around the province to com-plement the work we have been doing in BC high schools and with our In-vestRight seminars for pre-retirees and seniors,” said Pa-tricia Bowles, Director Communications and Education.

Almost ten years ago, the BCSC in-troduced The City, a financial life skills resource for BC teachers, along with its supporting teacher training program. The City was developed for B.C. educators who teach Grade 10 students the Planning 10:

Finances course which is mandatory in B.C. high schools.

The resource is used in all 60 of B.C.’s school districts and has been delivered to more than 2,000 teachers since it was introduced in 2004. The BCSC’s teacher training workshops will continue to be held throughout the education system with all of B.C. universities’ Faculties

of Education, with school boards and with individual high schools.

In 2007, the BCSC partnered with the F i n a n c i a l C o n -sumer Agency of Canada to provide

its teacher resource to all Canadians in English and French in the form of an interactive web-based learning tool. The City is now widely used in all provinces and territories.

“Teaching financial life skills and raising awareness about their importance is a priority for the BCSC,” said Bowles.

“Teaching financial life skills and raising awareness about their importance is a priority for the BCSC.”


From ping pong tables to bricks and mortarPacific Blue Cross makes donations to support psychiatric care facilities across British Columbia


Value investment or value trap?

BY ANDREY SCHMIDT

When searching for undervalued stocks, it can be challenging to distinguish good value investments from “value traps.” A value trap is a company that appears to be trading at a discounted price relative to its earnings, sales, book value or other finan-cial characteristics, but then its stock per-forms poorly as its financial performance deteriorates. We have some guidelines we follow to try to avoid value traps.

First of all, we tread carefully when analyzing companies whose industries are in long-term decline due to technological change. Eastman Kodak, the photographic film company, is a good example. Kodak declared bankruptcy in early 2012, but in the late 1990s, the stock market valued the company at over U.S. $30 billion.

A decade ago, some prominent value investors were buying the shares on the way down, arguing that the company was undervalued due to the substantial cash flow from its film and patent licensing businesses. Eastman Kodak turned into a classic value trap, as the consumer transi-tion to digital cameras eroded the film business faster than those investors ex-pected. We could also mention companies like Blockbuster, the movie rental chain,

or Yellow Media, the phone directories business, in this category.

Second, we know that a cyclical company can appear very cheap when its industry is at a cyclical peak and then become a value trap when the industry’s performance inevitably weakens.

American homebuilding stocks had an amazing run from the early 2000s to the middle part of the decade. In early 2006, some value investors argued that the stocks were cheap based on their low price to earnings multiples. They were looking at the earnings these companies had for the previous twelve months, which were exceptionally high, due to the American housing bubble, and forgetting the cycli-cality of the home building industry.

In the years that followed, earnings plunged and, in many cases, turned nega-tive. Investment returns were simply ter-rible for shareholders who bought back then. For example, even after a recent upsurge due to signs the U.S. homebuild-ing industry is recovering, a large home-builder like PulteGroup Inc. (NYSE:PHM) trades in the mid-teens today versus over U.S. $40 per share in 2005 and 2006.

Third, we exercise caution when ana-lyzing companies in commoditized indus-tries that are facing competitors with lower

production costs. Famous value investor Warren Buffett

has called his 1960s investment in Berk-shire Hathaway textile mills one of his worst investment decisions. The company appeared to be undervalued when he invested, but emerging low-cost foreign textile production put consistent pressure on the prices of the company’s key prod-ucts. Buffett decided to close the mills in the 1980s. His current net worth of over U.S. $40 billion came from successful value investments in other industries.

For a Canadian example, consider the forest products industry, which has set a few value traps for investors over the past decade. Canadian companies have been facing foreign competition from countries like Brazil, which has fast-growing trees and lower labour costs.

The North American food retailing industry is another good example. Shares of traditional grocery store chains have sagged over the past decade as efficient global giants like Wal-Mart Stores Inc. (NYSE:WMT) and Costco Wholesale Corp. (NASDAQ:COST) expanded their market share by discounting prices.

Investors should always consider whether a company’s customers will remain loyal in the face of price competi-

tion. The more commoditized the busi-ness, the more likely customers will switch to save money. Investors may want to avoid companies facing these issues, even when their stocks are cheap.

We aim to purchase high quality com-panies for our clients at discounted valuations while avoiding value traps. The guidelines from this article are one component of our investment selection process.

Armstrong Schmidt Investment Man-agement provides the full range of invest-ment services to both retail and corporate clients with a specific focus on discretionary portfolio management. The partnership operates under the corporate umbrella of Raymond James Ltd., one of North America’s leading full-service investment dealers. The views and opinions expressed in this article are those of Armstrong Schmidt Investment Management and not Raymond James Ltd. This article is not a solicitation and is for information purposes only. Raymond James Ltd.is a member of the Canadian Investor Protection Fund.

For more information on Armstrong Schmidt Investment Management and their services, visit www.armstrong-schmidt.ca.

Protect yourself from poor performing investments by following these helpful guidelines


BY RAY WILLIAMS

The economic downturn has caused business not just to retool their market strategies, but also to fundamentally rethink the exist-ing business model. And “serving” will become the new selling. This concept applies not only to mar-keting, but also talent manage-ment and career planning.

In a world where social media and technology have made the relationships between businesses and their customers more im-mediate and porous — and, by extension, companies more ac-cessible — customers expect that the brands they do business with truly care about them. So says Ann Handley, the Chief Content Officer of MarketingProfs and the co-author of the book, Content Rules.

What does that mean for business? It means an emotional connection with customers–un-derstanding what they need, and how a business product helps customers accomplish their goals and fits into their lives. Expressed in a different way, this means that serving has become the new selling.

A consumer trends analysis company, Trendwatching.com, tagged a new trend called “brand butlers,” which in essence de-scribes how businesses are mar-keting themselves and making themselves relevant.

Trendwatching argues that today’s wired, no-nonsense, im-patient and empowered customers increasingly expect personal and immediate access to more sup-portive offline and online services, particularly self-service. Trend-watching claims that businesses need to hone their “butlering skills” to help people make the most of their lives, as opposed to the old business model, which tried to “sell” people a specific lifestyle.

Handley points to some ex-amples of the butlering:

Taxi2, a cab-sharing effort from Virgin Atlantic, which matches people traveling to nearby destina-tions from the same airport;

The Nike + running system, which offers an online dashboard for recording workout data, and includes the ability to set goals, join challenges and make contact with other runners;

Charmin’s tool for helping New Yorkers gain access to free and clean restrooms in Times Square during the holiday season.

One of Handley’s tenets in Content Rules, holds that if ev-eryone with a website is a pub-lisher, and everyone is the media, brands increasingly need to posi-tion themselves as reliable and valuable sources of information. Businesses need to create value for their customers by sharing a resource, improving their lives. In other words, business brands must increasingly share or solve, not just sell.

How do these business model changes impact career develop-ment?

First and foremost, for those already employed, looking for career advancement need to focus on what enhanced value they bring to the organization, and in what ways do they “serve” beyond the mere requirements of the job? Second, job hunters need to get do more than produce the standard resume. They need to how they have served their com-munity, and other people selflessly. This reflects an attitude beyond ego and simple transactional re-lationships.

The end of the economic down-turn will not mark a return to “business as usual.” Those days are gone, and the smart businesses will realize a business model focused on outstanding service to their employees and customers, and intelligently using the power of social media, will make a much stronger recovery.

In addition, smart employees and job hunters need to realize that a willingness and a demonstrated history of serving makes them a stronger contender.

Ray Williams is president of Ray Williams Associates and vice-chair of The Vancouver Board of Trade. For more info visit www.raywil-liamsassociates.com.

Why ‘serving’ is the new selling

Ray Williams, President, Ray Williams Associates


Acuere Consulting Inc.acuere.ca604-283-1105 800-604-8452 Fax

BLD Decor and Scenery Inc.blddecorscenery.com [email protected] 604-437-7677 604-437-7679 Fax

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Kenneth Chan RE/MAX Realtykennethchanproperties.com604-737-8865

RE/MAX Crest Realty Westsidehappystreet.ca604-602-1111

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Leadership loves company

Ring in the season at the Rogers Santa Claus Parade

The holiday season kicks off on Sunday, December 2, when more than 300,000 spectators will line the streets of downtown Vancouver for the ninth annual Rogers Santa Claus Parade. Santa Claus joins more than 60 march-ing bands, choirs and festive floats.

The Rogers Santa Claus Parade has become a festive tradition in Vancouver, celebrating the spirit of giving. In addition to providing entertainment for families, the parade benefits the Greater Van-couver Food Bank Society. The Rogers Santa Claus Parade has become one of the largest single food raising events for the Greater Vancouver Food Bank Society.

“Rogers is proud to bring the community together through the Rogers Santa Claus Parade and to make it an important and meaningful family tradition,” says Gordon Nelson, B.C. Vice President and General Manager, Rogers Communications.

“We strongly urge all of those who love the parade to start the season off right by making a contribution to the food bank at

the parade. This donation is an important part of the tradition.”

The festivities begin at 10:30 a.m. with two-and-a-half hours of family entertainment at the Coast Capital Savings Christmas Square in front of at the Vancouver Art Gallery. The Christmas Square includes the food bank drop-off zone, gingerbread decorating station, face painting, a “Letters to Santa” station, balloon twist-ing, and an entertainment stage

featuring several musical acts and dancing performances. The parade officially begins at 1 p.m.

Food bank donations of cash and non-perishable food items can be dropped off at Coast Capital Savings Christmas Square. Volunteers will also be collecting donations before and during the parade.

For more information, includ-ing a parade route map, visit www.rogerssantaclausparade.com.

Culinary Capers Catering CEO makes prestigious W100 list

Debra Lykkemark, CEO of Van-couver’s Culinary Capers Catering and Special Events, is ranked 86th in PROFIT Magazine’s 14th annual W100 ranking of Canada’s Top Female Entrepreneurs.

”It is a great honour to make the W100 rankings of Canada’s Top Female Entrepreneurs for the 8th consecutive year,” says Lykkemark. “This is the company’s 26th year in business and I have to thank my talented teams in Vancouver and Beijing for their constant dedica-tion and hard work. Together we have created a vibrant, highly re-garded world class company.”

Ranking Canada’s Top Female Entrepreneurs on a composite score based on the size, growth rate and profitability of their

businesses, the W100 profiles the country’s most successful female business owners. Published in the November issues of PROFIT and Chatelaine magazines, the W100 is Canada’s largest annual celebra-tion of entrepreneurial achieve-ment by women.

“The women of the W100 offer 100 shining examples of Cana-dian entrepreneurship,” said Ian Portsmouth, publisher and editor-in-Chief of PROFIT. “They have achieved their elite status by creat-ing valued products and services, applying deft management skills, and exercising the determination required to succeed in today’s busi-ness environment.”

For more information, visit www.profitguide.com.

Don’t miss the ninth annual Rogers Santa Claus Parade on Dec. 2, a holiday tradition that benefits the Greater Vancouver Food Bank Society. Submitted photo.


Time-saving tools to help you stay on trackBY PRZEMEK CERAZY

Time is one of the most valu-able commodities that you have control over – how you spend it, where and with whom. Do you ever wonder what you could do to use your time more effectively? If so, there are many tools and tech-niques that can help you stay on track and get the most out of your available hours.

Time saving can come in the form of a mobile app, a piece of paper, or a mindset. Here are some of the tools, techniques and values that members of The Vancouver Board of Trade’s Company of Young Professionals program have found to work well. Consider these tips for yourself in order to get or-ganized and use your time more effectively.

ToolsDropbox is a free and secure

service that allows you to access all of your files (documents, spread-sheets, videos, photos, etc) from your computer, smartphone or tablet. Whether you are a profes-sional, student, or business owner, Dropbox is a must-have service.

Doodle is another free service that helps you with scheduling

Being paranoid about office politics can make you a target

People who worry about work-place rejection or sabotage can end up bringing it upon themselves, according to research from the Sauder School of Business at the University of British Columbia.

The new study reveals that paranoia about nasty gossip or being snubbed leads people to look for clues that confirm their fears, ultimately annoying colleagues and increasing the likelihood they will be rejected or subverted.

“It may be best to ignore im-pulses that tell you that you’re the victim of office politics,” says lead author and Sauder Prof. Karl Aquino, whose study will appear in a forthcoming issue of the journal Organizational Behavior and Human Decision Processes.

Aquino explains that it’s natural for people to wonder how others view them, especially when popu-larity in the workplace is often rewarded with power and financial compensation.

“However, our research shows employees should do their best to keep their interactions positive and ignore the negative. As the expression goes, kill them with

kindness.”In one of the study’s experi-

ments, the researchers discovered that people who readily interpret interactions with others as nega-tive are also more likely to engage in eavesdropping or spying to confirm their impressions.

Another experiment showed that individuals who reported wanting information about unfair treatment within a group were more likely to have angered the group and be the focus of rejec-tion.

A third experiment measured study participants’ comfort level with a co-worker who is worried about unfair treatment compared to others. Rather than be saddled with a worrywart, participants were 3.5 times more likely to choose individuals who demanded con-crete feedback on work quality. Participants were also 16.5 times more likely to prefer working with someone who tends to focus on work group dynamics as a whole.

For more information on re-search and activities at Sauder School of Business, visit www.sauder.ubc.ca.

meetings and other appointments. Simply set up an availability poll, send a link to all participants and view the results online. As people reply, everyone can see the re-sponses and a meeting time can be quickly established that works for the majority of the participants.

Google Docs can be used to create, share and work collab-oratively on documents, spread-sheets or presentations. The files can be worked on by multiple people at the same time with real-time updates on progress and changes. The documents are stored in Google’s cloud and can be ac-cessed by the project members from anywhere.

Values and techniquesHold yourself and others ac-

countable to deadlines. We spend a lot of time procrastinating instead of completing our work – one way to address procrastination is to be accountable for your actions. Prior to starting a task, decide on the timeline. Don’t wait until the last moment to complete your work, as the quality will likely suffer.

Creating to-do lists can help keep you organized and on track to complete the required tasks and projects. To-do lists can be

created with a pen and paper or by using one of the many mobile apps available such as 2Do. Creat-ing a to-do list in the morning and then checking it after lunch will keep you accountable as to how on task you are.

Utilize the one touch rule. Here is how it works: Touch it once, deal with it and don’t think about it again. This is not the easiest rule to live by, but even if it is implemented 50 per cent of the time, it will make your life more manageable and focused. Best of all, you can use it in all areas of your life.

Take a moment to imagine how much time you may save and how organized you could be by implementing a few of these simple tools and techniques. By modifying some of the ways you work, you should have more free time that can be spent with your family, friends and doing the things that you love.

Remember, time is limited, valuable and you have control over it — don’t waste it doing things that could be done more effectively and in half the time. Get organized and execute.

The Company of Young Pro-fessionals (CYP) is a leadership development program of The Vancouver Board of Trade which engages those in the early stages of their career through leader-ship, networking, and volunteer-ism opportunities.This article was written by CYP participant Przemek Cerazy with contributors Ryan Lermitte, Graham Lovely and Oliver Zihlmann. To participate in the discussion, join us on LinkedIn (Company of Young Professionals) or learn more about the program at www.tcyp.ca

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Measuring what matters for your business

BY ERIC MORRIS

As a business owner, there are many different metrics that are important to you — for example, “what were my sales this month?” and “how many new employees can I hire this year?”

Similarly, it’s important for you to measure how well your website and online marketing efforts are achieving your business goals. Un-derstanding how people are finding and interacting with your website can help you improve your cus-tomer experience and potentially drive more sales.

Here are three things every business should do to measure the effectiveness of their website:

Start by identifying the right goals for you. Think about the business objectives of your website and marketing efforts, and identify specific customer actions that rep-resent success. For instance, maybe your goal is to drive foot traffic to your store or to boost requests for an online quote. Other goals like signing up for a newsletter, viewing an important page on your site, or filling out an inquiry form can also be important indicators. Just as every business is unique, the metrics that signal success will vary.

But it’s crucial for every business to know what matters to you so that you can make the most of your marketing efforts.

Get to the bottom of your bounce rates. Bounce rate repre-sents the people that visit one page on your website and leave imme-diately after viewing that page. A high bounce rate could signal that they’re not finding what they need right away. Think about what infor-mation your customers might be seeking, like contact information or product details, and make sure it’s front and centre on your site.

Use data to optimize your mar-keting efforts. Businesses spend a lot of resources getting potential customers to visit their websites, so it’s crucial to understand which efforts are generating valuable customers, and which ones aren’t. Maybe you’ll find that the ad cam-paigns that you run at the begin-ning of the week are driving more conversions than those at the end of the week, so you can shift your marketing dollars accordingly.

Vancouver-based BuildDirect uses insights from Google Analytics to get more value for every dollar they spend on marketing. Accord-ing to Dan Brodie, BuildDirect’s vice-president of information tech-

nology, the company’s online sales volume “increased 50 per cent in a matter of months — all without anyone picking up the phone.”

Through Google Analytics, Brodie could see how effective advertising, newsletters, and site design were in driving sales.

Businesses these days have no shortage of data available to them, and it can sometimes feel over-whelming. The important thing about measurement for every busi-ness is to just get started and keep experimenting. Your customers and your business are constantly evolving, so remember not to set it and forget it.

There often isn’t a right or wrong answer, but the data can reveal insights that help you win the moments that matter with your customers.

Eric Morris is Head of Search and Mobile Advertising at Google Canada. On Nov. 29, Morris will deliver a breakfast keynote address at the business analytics forum “So much data, too little analysis,” pre-sented by BCIT School of Business and The Vancouver Board of Trade, with partner sponsor Business in Vancouver. For more information, including how to register, visit www.boardoftrade.com.

New accessible employment board now onlineSpinal Cord Injury BC wants to help employers diversify the workplace

Last month, Spinal Cord Injury BC launched Accessible Employ-ment BC — the first online resource in B.C. dedicated exclusively to helping people with disabilities find meaningful employment op-portunities.

Job seekers with disabilities can post their resumes on the site to market their particular skills di-rectly to organizations committed

to employment equity and to de-veloping a diversified work place.

Employers can post job descrip-tions ranging from internships, to contract work to full-time or part-time employment opportunities. Employers can also scour the site for potential candidates and read our resource section to learn more about working with people who have disabilities.

The catch? There isn’t one! This website is completely free to use. To post a job to the Accessible Employment Board today, visit Ac-cessibleEmploymentBC.com and create a free account.

With 2.8 million British Co-lumbians living with a disability in 2006 — that’s more than one in ten people — this is an opportunity employers can’t afford to miss.

FROM PAGE 1

ment to continue to build on the strength of our provincial economy and to pursue the benefits that a strong economy brings to all citizens.

We support fiscal policy and performance that is based on a balance of needs between businesses, and the residents

who rely on the goods and services from both the public and private sectors. We also recognize and appreciate past decisions and initiatives that have supported the B.C. busi-ness community, and we know that B.C.’s continued recovery and stability will be realized by actions that bolster our existing strengths and manage weak-

nesses and hovering threats to our economy.

We look forward to working closely with the province in the coming months, to ensure the best interests of B.C.’s business community are taken into con-sideration in the next provincial budget.

Ken Martin is Chair of The Vancouver Board of Trade.


“Coast Capital’s decision to invest in the Innovation Hub stems from our recognition of the important role young social entrepreneurs play in challenging the traditional business model,” said Tracy Redies, Coast Capital’s president and CEO. “We want to support innovative businesses

that combine financial sustainability with a commitment to improving our world.”

Ventures will be selected through a competitive process assessing their finan-cial sustainability as well as their potential to have a positive social impact. Program participants will attend boot camps on topics from marketing and branding to legal and tax implications.

“Ultimately this program will prepare social ventures to pitch for and accept in-vestment, and grow to the next stage,” says Sauder associate professor James Tansey, director of ISIS. “The vision is to establish B.C. as a world leader for social venture development.”

For more information, visit www.sauder.ubc.ca.

UBC receives $1M from Coast Capital Savings to propel social ventures

A commemorative plaque to mark the launch of the Coast Capital Savings Innovation Hub is unveiled by (from left to right) Robert Helsley, dean of the Sauder School of

Social entrepreneurs will soon benefit from a $1 million contribution from Coast Capital Savings to the Sauder School of Business at the University of British Columbia.

The funding will establish the Coast Capital Savings Innovation Hub, a program supporting early stage ventures devoted to solving social and environmental prob-lems using for-profit business models. Led by Sauder’s ISIS Research Centre, the initiative will provide working space, men-toring from faculty, alumni and industry experts, and support from Sauder students paired with ventures as interns.

“Business can and should be a force for positive social and environmental change,” said Robert Helsley, dean of the Sauder School of Business. “The In-novation Hub provides an ideal venue for Sauder students to learn from and contribute to this progressive new form of entrepreneurship.”

In 2009, the B.C.-Alberta Social Economy Research Alliance reported that social ventures provided paid employment to 4,500 workers. The sector generated annual revenues of $46 million, provided training to 10,450, and services to 678,000 British Columbians.

Province launches new seniors’ website and publication

Seniors and their families now have easier access to all the information they need online and in print with a redesigned SeniorsBC website and a new edition of the BC Seniors’ Guide.

Minister of State for Seniors Ralph Sultan showed off the new edition of the BC Seniors’ Guide at the Council of Senior Citizens Organizations of British Colum-bia conference in Richmond last month, to mark International Day of Older Persons.

“We’ve consulted with B.C. seniors and their families and are listening to how they want to receive information,” said Sultan.

“Seniors told us they like print-based information materials that they can write in and carry with them. Family members and caregivers like to find information online. We are ensuring seniors and their families can access the information they need in a way that appeals to them.”

The new website is more user-friendly, with improved navigation through a wide range of topics of interest to seniors and their families. Information is now orga-nized and written in a way that makes it easier to find and understand.

The tenth edition of the BC Seniors’ Guide contains updates to many services and programs. It includes a new section on benefits and provides information on new seniors’ resources and services. The guide also provides tips on healthy aging and encourages seniors to plan ahead for future needs.

Providing easy access to all the infor-mation seniors and their families need to make informed choices about care is a key action in the B.C. government’s seniors’ action plan.

For more information, visit www.se-niorsbc.ca. To receive a free copy of the BC Seniors’ Guide, call 1-877-952-3181.boardoftrade.com | 604-681-2111

The Vancouver Board of TradeAnnual Holiday Luncheon and Media Panel

Join us for this annual tradition December 4 at The Hyatt Regency

This gift forms part of UBC’s start an evolution campaign, one of the most ambi-tious fundraising and alumni engagement campaigns in Canadian history. The goals are to raise $1.5 billion for students, research and community engagement, and to double the number of alumni involved annually in the life of the university by 2015. Visit startanevolution.ubc.ca.


The British Columbia Institute of Tech-nology recently recognized four outstand-ing individuals for achievements in their careers and their community endeavors at the school’s tenth annual Distinguished Alumni Awards.

This year’s recipients come from a broad cross-section of industries and careers, ranging from electrical contracting to health sciences and business.

“BCIT’s Distinguished Alumni Awards are an opportunity for BCIT to celebrate our alumni and their significant contribu-tions to the fabric of British Columbia,” says Don Wright, president of BCIT. “Our alumni become leaders – reflecting the value of technology and trades studies at BCIT by making strong contributions to the social, environmental, and economic prosperity of this province.”

Dan Mott, President of Mott Electric, re-ceived a Distinguished Alumni Award at this year’s DAA. Mott is the third generation to lead Mott Electric, one of the largest electrical contracting companies in British Columbia. Under his direction, Mott Electric has grown from having 40 customers in the 1980s to over 1,500 customers in 2012 alone.

A BCIT Electrical Apprenticeship gradu-ate, Mott is well known in the industry for his innovative business practices, his in-volvement in industry associations, and his

passion for his team of employees. “I strongly believe in the BCIT model of training profes-sionals consistently, and I do what I can to support it,” says Mott.

Peter Blake, CEO of Ritchie Brothers Auctioneers, the world’s largest on-site and online auctioneer of heavy equipment and trucks, also received a DAA at this year’s event. Blake initially came to BCIT’s Admin-istrative Management program directly from high school and remembers working in a team environment on projects that repre-sented real life situations, with high pressure and higher expectations.

Blake attributes his success and the busi-ness’s success to working alongside high-caliber individuals and within the Ritchie Brothers company culture. As a mentor to young employees, Blake advises them to remember what they learned in kindergar-ten and what their parents taught them. “The lessons learned during those times are critical to being successful in whatever you decide to take on,” says Blake.

Kelly Third, a Registered Nurse with St. Paul’s Hospital, received the BCIT Alumni Association Outstanding Student Leadership Award. During her time at BCIT, Third was a set representative and a nursing student mentor. She was the Valedictorian for the February 2012 Convocation ceremony and the keynote speaker at the June 2012 Con-

vocation ceremony. Her future plans include obtaining a Masters of Public Health, with a focus on Global Health, and continuing her volunteer work with further travel to Africa. She encourages students to “Do the best you can with what you have. Know who you are and be okay with that. You are not just a student; who you are has value.”

Finally, Nicola Gardner, a 2012 graduate of the BCIT Business Administration degree program and last year’s President of the BCIT Student Association, received a BCIT Alumni Association Outstanding Student Leadership Award. Some of her proudest

accomplishments in student council include acquiring an expanded student centre and working with the student-led group “Where’s the Funding?” to lobby the provincial gov-ernment for better financial support for post-secondary education. Gardner’s next goal is to attend law school and become a lawyer, focusing on natural resources and the mining industry. “It is important to create change if you have the ability to do so,” says Gardner. “I love BCIT and want to make it a better place.”

For more on the awards or BCIT’s pro-grams, visit www.bcit.ca.

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President BCIT Alumni Association Board, Don Wright, President BCIT. Submitted photo.

BCIT honours outstanding alumni


M e e t i n S t y l e Fall and Winter are the perfect time for a meeting on the golf course. Well, not on the course but in our clubhouse. Our Salons and Westpoint rooms can hold from 20 to 100+ guests. Did we mention free parking and Wifi?

Contact our event coordinators for details:

Dave Whitaker - [email protected] 604-225-2308Joni Martinson - [email protected] 604-225-2312

Visit our website universitygolf.com for banquet menusand information.

@universitygolf University Golf Club

The Board celebrates at 2012 Chair’s Reception

Vancouver Board of Trade members, directors and governors gathered at the Teahouse in Stanley Park on Oct. 17 for a special reception hosted by Chair Ken Martin.

“We have a lot to be proud of. Our organization has made great strides in the past year, and as your chair, I’m very excited about the possibilities that lie ahead for The Vancouver Board of Trade.”

–Ken Martin, Chair, The Vancouver Board of Trade


WCBC’s annual compensation reports are available for immediate download.

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We’re here to help

Western Canada gets an image boost at AICI

Mihaela Ciocan, Certified Image Management Special-ist, has been elected to serve a two-year term as president of the Association of Image Consultants International (AICI) Canada Chapter.

Ciocan is the first-ever AICI Canada President based on the West Coast.

One of the leading new-generation image experts in the world, Ciocan also sits on the AICI International Board of Directors as VP of Certification, overseeing and advancing all credentialing programs.

AICI, founded in 1990, is the premier worldwide pro-fessional association of image consultants specializing in all aspects of presentation including appearance, com-munication and etiquette.

Ciocan assists individu-als and corporate clients to create an image that is seen, trusted and remembered, and

is often quoted and featured as an image expert in the media across Canada.

For more information visit www.aicicanada.com.

Mihaela Ciocan has been elected as president of the Association of Image Consultants International (AICI) Canada Chapter. Submitted photo.

Dragons’ Den star shares hard-won wisdomThe Vancouver Board of Trade

partnered with the RBC Team to launch a special Small Business Month event on Oct. 23 called the RBC Small Business Edge.

The event featured a special keynote breakfast with Robert Herjavec, star of television shows Dragons’ Den the American hit show Shark Tank.

Herjavec is perhaps one of North America’s most recogniz-able business leaders. He has

built and sold businesses on his way to amassing a personal fortune of over $100 million dollars.

A first generation immigrant, Herjavec arrived in Halifax, Canada on a boat with his parents after escaping communism in former Yugoslavia. With only one suitcase, few prospects, $20 and no understanding of the English language, his unlimited dreams led him to experience the classic

“rags to riches” immigrant story.During his speech, Herjavec

shared the secrets that took him from waiting tables to growing his nascent technology company, The Herjavec Group, into a world-class conglomerate. His five keys to success included truth, focus, risk, hardship, and thanks.

For a full photo gallery, visit www.facebook.com/vancouver-boardoftrade.com

Canadian business icon Robert Herjavec speaks at the RBC Small Business Edge on Oct. 23. The special Small Business Month event was presented by RBC and The Vancouver Board of Trade. Kim Stallknecht photo.


Leadership loves company

December 7Robin SilvesterPresident and CEO,Port Metro Vancouver

November 7Claude MongeauPresident and CEO, CN

November 16Tracy RediesPresident and CEO, Coast Capital Savings

Join us for these upcoming speaker events

w w w . v c c . c a

My Dreams. My Choice. My VCC.

“I believe I had an edge over other candidates because I went to VCC. The employer came directly to campus to find the best, skilled workers.”

– Kelly Hammond VCC Hospitality Alumnus

Documents

Sounding Board November 2012