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“We deliberately structure jobs in a way that people’s contributions matter, and that’s the whole philosophy.” lululemon CEO Christine Day, pg. 3 February 2013 • VOLUME 53 • NUMBER 2

THIS ISSUE

Board of Trade honours YVR CEO Larry Berg · 2 Tunnel vision Vancouver Board of Trade endorses George Massey Tunnel replacement by 2017 Christine Day shares the lululemon story · 3 By Greg Hoekstra

Chair’s Message · 4 The Vancouver Board of Trade is advocating for the replacement Dragons’ Den star coming of the aging George Massey Tunnel, to Vancouver · 4 in an effort to increase goods and traffic movement in and out of the Metro Vancouver region. Are you becoming a The tunnel — which stretches workaholic? · 6 from Richmond to Delta beneath the Fraser River estuary — is a criti- A tribute to Wendy cal part of the Highway 99 corridor, McDonald · 8-9 connecting our region to the U.S. Interstate highway system, the BC Energy efficiency rebates Ferries terminal in Tsawwassen, for businesses · 10 Port Metro Vancouver’s Deltaport container terminal, and Vancouver The George Massey Tunnel is a critical part of the Highway 99 corridor, but it’s operating beyond capacity and is nearing the end of its life Fraser Health embraces International Airport. cycle. The Vancouver Board of Trade is advocating for it to be replaced by 2017. Photo courtesy of the Province of British Columbia home health services · 11 However, there are a number of problems with the tunnel as it and industrial growth in the com- But road congestion is not the trade requirements, and leaves our Women’s Leadership Circle exists today. Not only is the tunnel munities of Tsawwassen, Delta, only problem. When the tunnel marine terminals at a disadvantage launches speaker series · 15 nearing the end of its service life, Surrey and White Rock; residential, was first built, the designers had the to nearby competitors. but it’s also operating beyond its commercial and industrial growth foresight to provide enough water In addition, the tunnel also capacity for upwards of 13 hours on the Tsawwassen First Nation depth over the tunnel to accommo- poses a significant seismic risk. De- @boardoftrade each day, causing traffic conges- lands; and increased truck traffic date the largest ships that were then signed in a time before earthquake /VancouverBoardofTrade tion that slows the movement of resulting from the expansion at expected to use the Fraser River. resistance was well understood, goods and people. And more traffic Deltaport. With all of this pro- Fifty years later, that expectation the tunnel is vulnerable to even is coming. jected growth, traffic backups at has dramatically changed. The moderate earthquakes. And as boardoftrade.com In the next few years, there will the tunnel could increase for many tunnel is now restricting us from likely be residential, commercial kilometres. meeting international maritime turn to page 2 hours7days Fly on your schedule. hours7days We are proud to offer the best in quality, safety and security. No waits, no lineups, no hassles. Call us today and make us your own private airline.

604.272.8123 1.877.399.8123 londonair.com 2 member news Sounding Board February 2013 Board of Trade CEO featured in The Globe and Mail Board to honour

The Globe and Mail published an article recently on business services, travel, dining, insurance, outgoing YVR CEO featuring an interview with Iain Black, President payment processing, transportation and more. and CEO of The Vancouver Board of Trade. (Visit www.boardbenefits.com for a full list of The article explores how joining a board of trade member savings). or chamber of commerce can “bring small busi- The third and final benefit, said Black, is the nesses big rewards.” In the article, Black outlined opportunity to be a part of The Vancouver Board three key ways in which The Vancouver Board of of Trade’s advocacy and its role in shaping public Trade creates value for its members. policy. “The first is through the networking we have to “It’s not just advocacy for traditional issues like offer, trade shows, and the opportunity to make lower business taxes and better public transit, but direct contact with other businesses,” said Black. important issues that define the kind of commu- The second includes the financial benefits of nity we’d like to create – issues like sustainability membership. For example, The Vancouver Board on the environmental side, mental health and of Trade has assembled a suite of savings avail- homelessness,” said Black. able exclusively to its members, which can save To read the full article, visit The Vancouver Board small businesses thousands of dollars each year of Trade’s website at www.boardoftrade.com.

eventsevents calendarcalendar update update Larry Berg, President and CEO of the Vancouver Airport Authority, speaks during The Van- See our full events calendar at boardoftrade.com couver Board of Trade’s event with Sir Richard Branson last May. Kim Stallknecht Photo

After 20 years, more than 300 long-held belief that YVR will tuesday, February 12 Friday February 15 thursday, February 21 million passengers, and five million always be a work in progress, an leaders of tomorrow: leaders of tomorrow: Members’ reception take-offs and landings, Larry Berg approach that ensures ongoing leaving a lasting roundtable with at the edge social Grille is retiring from YVR. economic benefits for British Impression scotiabank and lounge As President and CEO for the Columbia and a better airport for 5:30 – 7:30 p.m. 12 – 1:30 p.m. 5 – 7 p.m. past 15 years, Berg’s commitment generations of future flyers. to our community, province and On Friday, March 8, join The SFU Segal Graduate School Scotiabank, BC & Yukon Region Host and Sponsor: country is reflected in the pride Vancouver Board of Trade for Sam Thiara, Associate Director, The Edge Social Grille and Lounge we all take in Vancouver Interna- lunch at the Vancouver Conven- Undergraduate Alumni Wednesday, February 20 tional Airport and its well-earned tion Centre East (Canada Place) as Engagement at Beedie School of thursday, February 28 reputation as one of the world’s we celebrate Larry’s contributions, Business at SFU networking Breakfast series: Orientation and capitalizing on culture: truly great airports. and thank him for his business and

rountable the lululemon athletica Whether it’s new routes, community leadership. Wednesday, February 13 Business Model 7 – 9 a.m. runways, terminals, or the instant For more information, includ- the Morning leader: Renaissance Vancouver 11:45 a.m. – 2 p.m. success of the Canada Line, Berg’s ing how to register, visit www. Inspiring executive Harbourside Hotel leadership legacy reinforces his boardoftrade.com/events. success Coast Coal Harbour — Coal Harbour Ballroom 8 – 10 a.m. Wednesday, February 20 Christine Day, CEO, lululemon VIFF’s Vancity Theatre Continued from page 1 Likewise, the new crossing must athletica at the Vancouver International B.c. Budget recap with make provisions for public transit premier christy clark Film Centre recent events off the coast of B.C. and bicycle traffic. Wednesday, march 6 Rachel Lewis, Chief Operating 11:15 a.m. – 1:30 p.m. have reminded us, much larger The resolution also urges that Members’ reception Officer, Vancouver Whitecaps FC Vancouver Convention Centre West earthquakes could be in the offing. the current George Massey Tunnel at the Butcher and Bullock The loss of the tunnel before it be appropriately decommissioned, Dianne Doyle, President The Honourable Christy Clark, 4:30 – 6:30 p.m. could be replaced would throw and that an environmental impact and Chief Executive Officer, Premier, The Province of British review be conducted with respect Providence Health Care Columbia Host and Sponsor: lower mainland traffic into chaos, The Butcher and Bullock probably for years. to both the replacement and de- Donna Wilson, Vice-President, Presenting Sponsors: In recent months, The Vancou- commissioning. Human Resources, LifeLabs PwC, Fasken Martineau Canada Friday, march 8 ver Board of Trade has been working Adequate and appropriate con-

Wheels up: a tribute to closely the Richmond Chamber of sultation must be conducted with moderator thursday, February 21 larry Berg Commerce, the Delta Chamber of First Nations, neighbouring and Janet Austin, Chief Executive the power of the Commerce and the BC Chamber affected municipalities, the agricul- 11:15 a.m. – 2 p.m. Officer, YWCA, and Vice Chair of entrepreneur economy of Commerce to raise the profile tural sector, the logistics sector, the The Vancouver Board of Trade Vancouver Convention 11:15 a.m. – 2 p.m. of this important issue. transport sector, and TransLink, Centre, East The Vancouver Board of Trade reads the resolution. Four Seasons Hotel Vancouver recently drafted a resolution that The Board of Trade also sug- Wednesday, February 13 — Park Ballroom gests that the Province of British Members’ reception Wednesday, march 20 endorses the replacement of the Arlene Dickinson, Scotiabank George Massey Tunnel, contin- Columbia engage the Government at doolins Irish pub networking Breakfast Business Champion, CEO, Venture gent on a number of principles. of Canada and Port Metro Vancou- 5 – 7 p.m. Communications series: Orientation and rountable The resolution has been approved ver as potential funding partners Host and Sponsor: Presenting Sponsor: Scotiabank by The Board of Trade’s Regional —given this crossing’s significant 7 – 9 a.m. Doolins Irish Pub Transportation Committee and is importance to both maritime and Renaissance Vancouver now pending final approval from land border international trade — Harbourside Hotel the Policy Council. and that alternative project delivery One of The Board of Trade’s key models be considered, such as a register now at boardoftrade.com/events stipulations is that any replace- public-private partnership. ment — whether it be a tunnel or For more on the George Massey a bridge — must be designed in a Tunnel and The Vancouver Board What speaker, topic or issue do you want explored? We’ll look into it. way that would allow the largest of Trade’s resolution, visit www. E-mail: [email protected] projected marine vessel to pass. boardoftrade.com. February 2013 Sounding Board member news 3 Capitalizing on culture CEO Christine Day shares the lululemon athletica business model at Board of Trade

By Jeff Clowers $34 for something that doesn’t. our stores as community hubs. and that’s the whole philosophy. “It allows our whole model to The educator is one of the most “With it comes with a certain With more than 20 years of work, and it’s based on the philoso- important roles in the company. amount of risk. [But] what we’ve experience, lululemon athletica phy that if the product meets the They are the brand and they build found is that people fully take the CEO Christine Day knows what it guests’ needs and we can educate that brand relationship with our ownership and are committed to takes to create profitable long-term on why, the product will sell itself. guests.” driving the guest experience - cre- strategies. Ever since she took the Rather than just having people sell Getting to the point where a ating the right windows or right position in June 2008, Day has used based on outfits or trying to get the retail store becomes a community product display - because they own her own personal experiences and guest to buy a lot, it’s more about hub is no easy feat, however. Day it as a small entrepreneur would. touch to continue development education. We don’t view them as attributes the company’s ability We really get the best of entrepre- and push lululemon to be among sales or sales-pushers. ” to do so to the store’s individual neurial thinking and execution, as the global leaders of yoga-inspired Not only does Day look for these managers — unlike other stores, well as high levels of job satisfac- athletic apparel. educators to talk the talk, she also lululemon allows managers to tion because we don’t prescribe The impact Day has had on wants them to walk the walk. make their own decisions when it everything people do.” lululemon’s success has been “Whether you’re a runner, a comes to the guest experience. These are just a sampling of the nothing short of amazing. Under tennis player, a golfer, a walker, or “A lot of statistics show that [the innovative changes Day has con- her leadership, the company has Christine Day, CEO, lululemon athletica a yoga-er, we really want it to be a top reason] you’re dissatisfied with tributed to the world of retail. carved a niche for itself as the go-to regular part of your life. We believe a job — sometimes it’s your boss On Thursday, Feb. 28, join The company for people who want to that by being in tune with being and sometimes it’s your pay — is Vancouver Board of Trade as Day “live long, healthy, and fun lives.” they create a more intimate experi- healthy ourselves and being com- that you’re not actually able to shares her personal journey and To some customers, lululemon ence for guests by truly listening to mitted to a regular physical fitness contribute what you’d like to con- values, and gives further insight athletica is simply a place to buy their needs, they are also able to regime allows us to be in tune with tribute in the role, so your talents into the lululemon athletica busi- clothing. But to others, it’s much create brand relationships. the guests and the product that really don’t matter,” says Day. ness model and its economic more than that — it’s a culture. One “Our educators educate on the we’re selling. “What keeps people interested, history in hometown Vancouver. of the more unique aspects of lulu- product which then creates the “It’s about being who we are as engaged and fully committed is ac- For more information, includ- lemon is the “educators” that grace value for the guest. So, they can a brand ourselves, so we’re always tually being able to contribute and ing how to register, visit www. every store. According to Day, these see why they would spend, for in- in tune with the changing needs of create, and to solve problems. We boardoftrade.com/events or email educators are a key component of stance, $54 for something that has the guests. That then builds a rela- deliberately structure jobs in a way [email protected]. the company’s success. Not only do silverescent in the lining, versus tionship with the guest and creates that people’s contributions matter, Streetohome Foundation raises $26.5M to fight homelessness

B.C.’s Minister Responsible for Housing, “I want to congratulate Streetohome on governments can work together with and families. This year, more than 97,000 Rich Coleman, joined community partners reaching their fundraising target. They have private and social enterprises to find solu- B.C. households will benefit from provincial and private donors in congratulating Stree- done an amazing job and their efforts will tions to the complex issue of homelessness social housing programs and services. tohome Foundation last month for reach- help give people in need a safe, affordable and make a real difference to those in need,” The B.C. Government and the City of ing its $26.5-million fundraising goal to help home and a chance to create a better life,” added Margaret MacDiarmid, B.C.’s Min- Vancouver are building 14 new supportive end homelessness in Vancouver. said Coleman, who also serves as Deputy ister of Health. housing developments in Vancouver (ap- The foundation first launched its fund- Premier of B.C. Streetohome reached its fundraising proximately 1,500 apartments). To date, raising campaign in May 2010 and imme- “Thanks to the many donors - residents goal in just over two years. Together the seven of these developments are open diately committed to help build eight new and corporate citizens - who supported partners will create close to 950 supportive and the remaining projects are under con- supportive housing developments with the Streetohome Foundation’s campaign. This apartments, affordable homes with sup- struction or in development. Streetohome Province and the City of Vancouver. Under is a powerful demonstration of our collec- ports and services, for those who are home- Foundation’s funds will be used to support the partnership, Streetohome committed tive will to end homelessness in Vancouver less or at risk of homelessness. the development of eight of these sites. to raise $20 million, the Province invested and I look forward to continued partner- Since 2001, the B.C. government has For information on provincial social around $200 million and the City of Van- ships and successes.” invested $3.2 billion to provide affordable housing programs and services visit www. couver contributed the land. “This is a wonderful example of how housing for low-income individuals, seniors bchousing.org.

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A Golder Associates Company chair’s message The importance of PUBLISHER: Business in Vancouver Media Group EDITOR: Greg Hoekstra, 604-640-5450 ADVERTISING SALES: Katherine Butler, 604-608-5158 succession planning DESIGN: Business in Vancouver Media Group It’s been said there are three on their strengths. Another part As the official publication of The Vancouver Board of Trade, the Sounding Board newspaper provides analysis and discussion of regional and national issues types of people in the world: of this involves enabling, or facing the business community, along with input from member companies, those who make things happen, giving your staff the opportunity allowing them to raise their profile in the business community. those who watch things happen, to gain experience by taking on Sounding Board is published 12 times per year by Business in Vancouver Media Group in partnership with The Vancouver Board of Trade. and those who wonder what the new challenges in the organiza- Sounding Board is read by leading business executives and their employees. The heck happened. tion. It also involves giving staff Ken Martin, Chair, paper has a primary circulation of 12,500 and a conservatively estimated total If you’re part of — or want to the opportunity to expand their The Vancouver Board of Trade readership of 37,500. be part of — the “make things skills through education. ABOUT THE VANCOUVER BOARD OF TRADE happen” crowd then succession But it’s also good for the opportunities. And what do you The 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 planning is your friend. It’s good rest of your colleagues as you do with the incumbent? World Trade Centre Vancouver is the international division of The Vancouver for you, it’s good for your col- are preparing your part of the If you’re trying to develop Board of Trade and is affiliated with more than 300 WTCs worldwide. leagues, and it’s good for your organization for a smooth tran- more than one potential suc- OUR MISSION STATEMENT company. Here’s why. sition, rather than a disruptive cessor, the complexity grows. 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 Good for you: If you’re in one where someone is brought Or does it? Perhaps you can centre for trade, commerce and travel. a corporate environment and in from the outside with a very move them into each other’s

OUR BASIC PRINCIPLES your goal is to climb the corpo- different game plan or someone job. Keep in mind that your job The Board of Trade believes that the market system is the only system that rate ladder you need to develop is promoted into your job who is to help them grow, help them works effectively in the allocation of scarce economic resources for efficient and stable economic growth and job creation. The Board of Trade recognizes the your successor. isn’t prepared for it. to not lose efficiencies, and help imperfections of the market system and supports the need for publicly provided Selfishly, if you have someone Good for the company: If them to not miss opportunities. services such as social services, health services and public education. The Board supports the philosophy of less government involvement in the business sector ready to take over from you, you’re a successful entrepre- If they’re as good as you think and believes that governments should not do what can be done in whole or in then you are a more attractive neur, having someone who they are, you won’t have to help part by the private sector. promotion candidate than the can take over the day-to-day them for very long and your PUBLICATIONS MAIL AGREEMENT No. 40011551 “indispensable” candidate (i.e. operations means you can get organization’s skill set will have The Vancouver Board of Trade, World Trade Centre the only person who can possi- back to doing what you do grown. Suite 400, 999 Canada Place Vancouver, B.C. V6C 3E1 bly do his job because he hasn’t best: innovating, growing, and All that said, an internal pro- [email protected] spent any time developing his expanding your company. It’s motion is not always the best people). With someone ready to also a possibility that running strategy. BOARD OF DIRECTORS 2012-2013 take over, you can be promoted the business isn’t where your Sometimes it is necessary EXECUTIVE COMMITTEE and a smooth transition will skills lie and having someone for the organization to bring Chair Ken Martin President and Chief Executive Officer take place. Also, if you’re known with professional management in someone from the outside; Pacific Blue Cross for developing your people, it skills will increase efficiency and someone to help it regain it’s Senior Vice-Chair Elio Luongo Canadian Managing Partner — Tax will be noticed. financial results while you use competitive edge if the organi- KPMG LLP The best people will want to your entrepreneurial skills to zation is losing market share; Vice-Chair Janet Austin Chief Executive Officer work for you and those higher their best advantage. someone with turnaround skills YWCA Metro Vancouver up will want you to move up to If you’re in the corporate if the company has found itself Vice-Chair Ray Williams President have a broader influence on the world, a culture where people in financial difficulties; someone Ray Williams Associates organization. If you’re an entre- can develop their skills and with entrepreneurial skills if Secretary-Treasurer George Cadman, QC Shareholder preneur, developing someone to reach their career goals is a the organization is financially Boughton Law Corporation run the business will allow you culture that will attract and strong but needs to expand to Finance and Audit Committee Chair Jon Schubert to keep on doing what you enjoy retain the best people. Also, grow. But external candidates Policy Council Chair Robin Silvester President and Chief Executive Officer — what you do best — grow people promoted from within also present risks. Studies have Port Metro Vancouver your business and develop new the corporation allows for shown that CEOs promoted Immediate Past Chair Wendy Lisogar-Cocchia President and Chief Executive Officer innovative ideas. If you don’t, smooth transitions and conti- from within are far more suc- Century Plaza Hotel & Spa, Absolute Spa you may end up a victim of your nuity of strategy. cessful than those brought in Group Member at large Tim Manning success, running the business This is not to say it’s easy. from the outside. Regional VP, Commercial Financial with no time to expand. It’s challenging to give an indi- So do yourself a favour; do Services RBC Royal Bank Good for your colleagues: As vidual enterprise-wide oppor- your colleagues a favour; do your Member at large John Nightingale a leader, you have a moral obli- tunities to expand their skills company a favour. Embrace suc- President and Chief Executive Officer Vancouver Aquarium gation to develop your people; and knowledge. For example, cession planning. Member at large Tamara Vrooman to help them achieve their career there is already a very capable Ken Martin is Chair of The Chief Executive Officer Vancity aspirations. person running another part Vancouver Board of Trade and BOARD OF DIRECTORS Part of this involves men- of the business. Putting an in- President and CEO of Pacific Kevin Bent Pacific Newspaper Group toring, or helping your staff experienced person in the role Blue Cross. Dave Cunningham Telus Corporation develop a career plan that builds risks losing efficiency or missing Lara Dauphinee Fiore Financial Corporation, Fiore Group Mary Anne Davidson Acciona Infrastructures Canada Maninder Dhaliwal Trucasa Anne Giardini Weyerhaeuser Company Limited Calvin Helin RCI Capital Group, Inc. Craig Hemer Odgers Berndtson Dragons’ Den star Arlene Dickinson Robin Hemmingsen BCIT School of Business David Hoff Ledcor Terry Hui Concord Pacific Developments Inc. Richard Jaffray Cactus Restaurants Ltd. to address Board of Trade Moray Keith Dueck Auto Group Sacha McLean The McLean Group Join The Vancouver Board of perience to reveal the secrets of palpable and infectious belief Tracy McVicar CAI Capital Management Trade on Thursday, Feb. 21 for being a successful entrepreneur in the entrepreneurial spirit; she Evi Mustel Mustel Group Gordon Nelson Rogers Communications Group an address by Arlene Dickinson, and growing a great business. reminds us of the major contri- David M. Poole Scotiabank Scotiabank Business Champion, Dickinson is a strong believer butions Canadians have made Jatinder Rai Response Advertising Inc. Elise Rees Ernst & Young LLP CEO of Venture Communica- that the future of the Canadian to international business and the Dr. Mark Schonfeld tions, and star of CBC’s hit televi- economy, and indeed the global entrepreneurial tradition. Dennis Skulsky BC Lions Football Club Lorne Segal Kingswood Properties Ltd. sion show, Dragons’ Den. economy, will be fuelled by en- Visit www.boardoftrade.com/ Ron W. Thiessen Hunter Dickinson Inc. In this talk, one of Cana- trepreneurs. events or email reservations@ Denise Turner TitanStar Group of Companies da’s most high profile business On stage, as on the small boardoftrade.com to purchase leaders distills a lifetime of ex- screen, Dickinson displays a tickets for this event. BC HYDRO - AGENCY 34736 LB 5.00 x 13.400 none

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6 member news Sounding Board February 2013 Workaholism: the invisible addiction? Statistics Canada report reveals that nearly one third of working adults consider themselves workaholics

By Ray Williams “I’m up to neck in alligators,” or “I can families. They don’t have any hobbies or barely keep up,” with the assumption interests outside of the office.” Do you spend most of your day — in- that somehow those people who aren’t Barbara Killinger, author of Worka- cluding your free time — thinking about that way are somehow less successful? holics: The Respectable Addiction, argues work? Are you more concerned about We’ve come to view excessive work as a that workaholics are obsessed and don’t what your boss thinks than your family? desirable trait and value. feel alive unless they are pumped with Do you regularly work on evenings and Who are these workaholics? Ac- adrenaline and are perfectionists. weekends? Do you think about work on cording to several research studies, Here’s the irony. Despite logging vacation, or even not take your vacation? Baby Boomers are more susceptible to in mega hours and sacrificing their Does it seem like everything in your life being workaholics than Generation Y health and loved ones for their jobs, is going faster, including eating and workers. Most workaholics are success- workaholics are frequently ineffective walking? Do you spend most of your time ful if success is defined in terms of career employees. sitting or standing, under stress? a c c o m p l i s h m e n t , Workaholics tend If so, you could be a workaholic. wealth and recogni- to be less effective Workaholism is the invisible and tion. They are more “Many companies than other workers respectable addiction in our society but likely to be manag- because it’s difficult it’s costing organizations in terms of loss ers or executives or often confuse for them to be team of productivity, poor relationships and professionals such workaholics for hard players; they have employee engagement. a s p h y s i c i a n s o r trouble delegating or During the recent economic down- lawyers. workers, in essence entrusting co-work- turn, with the increased pressure on “Yes, workahol- enabling them on ers; or they take on Ray Williams workers to perform, the problem is ism is an obsessive- so much that they getting worse. Statistics Canada in 2009 compulsive disorder their path to self- aren’t as organized reported that 31 per cent of Canadi- and it’s not the same destruction.” as others. Yet, many productivity problems. ans ages 19-64 considered themselves a s w o r k i n g h a r d c o m p a n i e s o f t e n An essential part of that focus should workaholics and many experts believe or putting in long confuse workaholics be how organizations deal with and may this figure is much greater. hours,” says Bryan for hard workers, in even be encouraging workaholism. Yet overwork and workaholism has Robinson, author of Chained to the essence enabling them on their path to Ray Williams is president of Ray Wil- become the badge of courage, a sign of Desk, “workaholics are out of balance. self-destruction. liams Associates and vice-chair of The a top performer for many. How often They don’t have many friends. They don’t Mental health issues in the workplace Vancouver Board of Trade. For more info have you said, or heard said with pride, take care of themselves and often their have come into focus as liability and visit www.raywilliamsassociates.com. Outlook 2013: Let it rise UNBC MBA at Langara College By Peter G. Hall mend, and can overcome higher short-term food and energy prices. Another New Year, and a chance for The threats are hefty, but so is the pent-up a fresh start. Will this prove to be the one demand pressure. This development could that finally fires up the global economy? To take the economy to a new phase, unlike answer, it’s tempting to borrow from Berra 2009-10 where huge stimulus was supposed — in many ways, it seems like “deja vu all to engineer a rise in activity, and 2011-12, over again.” where we merely hoped for a rise. Now, as the For three successive years, the world economy is growing more organically, we are economy has started well, and then fizzled in a better position to just let it rise. mid-year. Are we in for the same again, or is Growth is forecast to begin in the US it different this time — can we genuinely say economy, and spread to the rest of the world. MASTER OF BUSINESS with firm hope, Happy New Year? Momentum is strongest there, and will push Make it four — we do indeed have mo- growth to 2.8 per cent this year. Europe ADMINISTRATION (MBA) mentum going into 2013. The U.S. economy and Japan will be laggards, but higher US remains resilient, with the housing sector, performance will help emerging markets to the mighty consumer and the non-com- power up again. Higher export potential is What You Need to Succeed! mittal business sector all finishing last year coming to Canada just in time. With housing • One weekend session per month with a solid burst of activity. On its own, markets faltering, consumers running out of • Quality face to face interaction with momentum isn’t enough, but the hidden steam and fiscal withdrawal further eroding growth, our economy will be more trade- professors and peers blessing in the delayed global recovery is the rise of pent-up demand. dependent in the medium term. Thankfully, • Classes work on a cohort system which Are demand pressures now sufficient to export growth is forecast to rise from 3.5 per allows students to build a valuable overcome the ever-present threats to growth? cent in 2012 to 6.6 per cent this year. network of colleagues Unfortunately, “out with the old” is easier The bottom line? Years of hoping for said than done. Europe and Japan cannot something better than the mediocre stuff • Completion (start to finish) in 21 months simply shrug off their monstrous public we saw has us all more jaded about future UNBC makes pursuing an MBA achievable for the working professional. debts, and dithering on its debt dilemma prospects. Higher growth addresses the big could cost America dearly. Exposed as they risks, and helps to quell our persistent fears are to these debts, financial markets remain — and it’s on the way. Happy 2013! jittery. Political instability — particularly in Peter G. Hall is vice-president and chief the Middle East and North Africa — remains economist for Export Development Canada. a key threat to growth. Emerging markets He is scheduled to speak to The Vancouver www.unbc.ca/mba • 1-866-960-6125 • 250-960-6125 • [email protected] • www.unbc.ca/commerce need to prove that they are truly on the Board of Trade on May 16. February 2013 Sounding Board member news 7 Opportunities in Las Vegas and Macau casino stocks

By Michael Armstrong and to US$6.1 billion in 2011. Visual evi- gaming dominance in perspec- In contrast, we view MGM as a more information or consult their Andrey Schmidt dence of the downturn remains at tive, according to the Las Vegas turnaround investment, as it took financial advisors. the north end of the Strip, where Review-Journal, Macau’s US$38 on too much debt in the years There are other options worth After years of monitoring Echelon Place and Fontainebleau billion in 2012 gaming revenues prior to the recession. It has lost researching for investors who want several publicly-traded Las Vegas Las Vegas, two multi-billion dollar exceeds the US$36 billion collected money on an annual basis since exposure to Las Vegas and Macau and Macau casino companies, hotel and casino projects, stand by the entire U.S. casino industry. 2009, in contrast to its consistent that we have not purchased to date. we added two to our Total Return unfinished today. Macau’s year-over-year gaming profitability prior to the recession. Las Vegas Sands Corp. (NYSE:LVS) Portfolio in early January – Wynn Despite these difficulties, we revenue growth for 2011 and 2012 On Dec. 20, MGM announced has properties in Vegas, Macau and Resorts Ltd. (WYNN-NYSE) and believe Vegas has retained its was 42 per cent and 13.5 per cent the completion of a major debt Singapore, and analysts believe its MGM Resorts International appeal as an entertainment des- respectively. refinancing, anticipated to save growth prospects are strong. Also, (MGM-NYSE). The two companies tination. We expect the 2012 data While we do not believe that it approximately US$230 million a U.S.-based exchange traded fund, now have a combined weighting of to show that Vegas set an all-time Macau gaming revenue will con- of interest expense annually. We the Market Vectors Gaming ETF roughly 4 per cent in the portfolio, record for visitor volume, narrowly tinue to grow that rapidly, Macau believe this transaction could help aims to provide broad exposure to which is diversified among various surpassing the 39 million plus should still be viewed as a growth shift investor focus from the com- the global gambling industry. sectors. A combination of positive figure from 2007. While revenue per market. Improvements to air, land pany’s debt load to its potential Armstrong Schmidt Invest- industry trends and company-spe- visitor is still down in comparison and sea transportation infrastruc- recovery. MGM’s growth projects ment Management provides the cific factors persuaded us to act. to the peak years, we think this will ture planned for the next five years include a plan to build a new casino full range of investment services The Las Vegas gaming industry gradually improve over the next few support that view. resort in the Cotai area. to both retail and corporate clients is still operating under the cloud of years along with the overall U.S. Wynn and MGM each have We purchased Wynn and MGM with a specific focus on discretion- the 2008-2009 recession. Vegas was economy. exposure to both Las Vegas and with our standard three to five-year ary portfolio management. The hit hard by a decline in visitors and While Las Vegas appears to be Macau, but our investment thesis time horizon in mind, but as we are partnership operates under the cor- a local housing and unemployment slowly recovering, Macau never on each company is different. We active investment managers, our porate umbrella of Raymond James crisis. Exacerbating the problems really slowed down. Macau, a view Wynn as a high quality growth views may change as new infor- Ltd., one of North America’s leading caused by the generalized econom- former Portuguese colony, has investment that was trading at a mation arises. Consequently, we full-service investment dealers. The ic downturn, a significant number been operated as a Special Ad- reasonable valuation of less than may be buying or selling shares of views and opinions expressed in of new hotel rooms came online ministrative Region of China since 20x 2013 analyst estimates of earn- these companies at any time, both this article are those of Armstrong at the same time as the number of 1999. The government ended mo- ings per share (EPS) at our time of on behalf of clients and person- Schmidt Investment Management visitors was declining. nopoly control of the casino indus- purchase. Wynn plans to pay $1 ally. These companies should be and not Raymond James Ltd. This As for gaming revenue, accord- try around a decade ago, resulting per share quarterly in dividends in considered somewhat high risk in article is not a solicitation and is ing to the Las Vegas Convention in a wave of new investment. 2013, a shareholder-friendly move. nature due to their share price vola- for information purposes only. and Visitors Authority, for the full Since 2007, Macau has been Wynn has been profitable on an tility and their categorization as Raymond James Ltd.is a member year of 2007, casinos on the Vegas the world’s most lucrative casino annual basis since 2006, and is in consumer discretionary businesses of the Canadian Investor Protec- Strip took in US$6.8 billion. Gaming market. We expect the data to show the design phase for a new casino that will be negatively affected in tion Fund. For more information revenue declined to US$5.6 billion that Macau had around 30 million resort to be located on the Cotai another economic downturn. In- about our services, please visit www. in 2009 and then partially recovered visitors in 2012. To put Macau’s Strip in Macau. terested readers can contact us for armstrong-schmidt.ca.

COMMUNITY CARVED BY SUCCESS

QUALITY OF LIFE What makes Chetwynd a great place to live? a four season playground with an abundance of Chetwynd activities for all ages Chetwynd is located in the foothills of the eastern slope of the Rocky Mountains and is British recreation complex: curling rink, skating oval, ice arena, Columbia’s entrance to, and exit from, the energetic Peace River country. Situated at the junction of skateboard park, sports fields, fitness centre, track, Highways 97 and 29 and the BC Rail mainline; Chetwynd is the natural transportation hub of the Recent announcements for increased production from local coal mines, the resumption weight room, racquet courts & climbing wall Peace River area. 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 leisure pool: wave pool, waterslide, sauna, hot tub Chetwynd is a great place to live. The community has homes for all ages and income levels, a variety industries are recovering at the same rate, which has resulted in Chetwynd posting one developed mountain biking and hiking trails of neighbourhoods and attractive parks throughout the city. The best news about living here: it’s very of the fastest growing economies in BC. affordable. home to the annual Chetwynd International Chainsaw “If you are looking to enjoy the quality When not working, Chetwynd residents take the time to Carving Competition Demand for new residential lots is at the highest it has of life in a friendly, vibrant community enjoy the peace and serenity of the rural and wilderness cOmmUnITY sErvIcEs been in many years. Local developers and builders are with the amenities of a larger centre, areas, or, when choosing to stay in the community, take actively working at satisfying the demand for new lots with advantage of our urban amenities. Chetwynd Chamber of Commerce and Visitor Centre development of several new subdivisions in the works. Chetwynd is the place to be!” www.chetwyndchamber.ca The newly expanded Chetwynd Recreation Centre offers Education The area is well known for its breathtaking scenery and countryside. The surrounding area offers swimming in the wave pool, skating in the arena or working out in the newly renovated State-of-the-art education is provided through School District #59 mountains for hiking and skiing; lakes and rivers for swimming, canoeing and fishing, and a fitness centre, just to name a few of the activities. Hunt and fish in the fall, hike, play (Peace River South) and Northern Lights College. countryside and park system with some of the best camping, snowmobiling, hunting and wildlife baseball or explore our hiking trail system. During the winter, skiing is a short one www.chetwynd.bclibrary.ca | www.sd59.bc.ca | www.nlc.bc.ca spotting in Canada. The region has a diverse history, ranging from 90 million year old dinosaur tracks hour drive to Powder King Ski Resort or you can visit our mountains for an exhilarating Health Care to the world famous World War II era Alaska Highway; hundreds of years of First Nations history and a snowmobile ride. Chetwynd offers a variety of adventure experiences that are sure to Northern Health Authority is responsible for the delivery of health century of European homestead history. thrill your senses and leave you wanting more! 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 www.gochetwynd.com T: 250 401 4113 E: [email protected] REMEMBERING WENDY Vancouver Board of Trade directors and governors reflect on the life of a Canadian business legend, Wendy McDonald

“Wendy McDonald was an icon of the Van- “I was always impressed by Wendy’s commit- couver business community. Not only did ment to the Board and its activities. She was she build an immensely successful business still attending Board events and Board meet- empire, but she did so during a time when ings up until only a couple months ago. I can boardrooms were dominated by men. As our only wish that I had the opportunity to work first female chair, Wendy’s impact on The with her much earlier in my career. She was a Vancouver Board of Trade was both immense real inspiration.” and indelible.” Ken Martin, President and CEO of Pacific Blue Iain Black, President and CEO of Cross and Chair of The Vancouver Board of Trade The Vancouver Board of Trade

“To say Wendy was an extraordinary person “Wendy left her mark in so many ways: as and had a hysterical sense of humor is an un- an amazing pioneer, a mentor, a community derstatement. I will always remember my first leader and a friend, to name but a few. Wendy day as chair, Wendy called and said “It only taught me and likely many others the im- took them 21 years to find another Wendy!” portance of living our lives on our terms, the Wendy Lisogar Cocchia, CEO of Century Plaza benefits of choosing to be happy and the gift Hotel & Spa and Absolute Spa Group and Imme- of helping others smile. We are a better city, diate Past Chair of The Vancouver Board of Trade province and neighborhood because of her.” Sue Paish, President and CEO, LifeLabs “Wendy was a trailblazing leader — in business, Canada and Governor of at the boardroom table of many community The Vancouver Board of Trade organizations, and in the wider community as the first woman to be elected Chair of The Vancouver Board of Trade. That’s quite the legacy to “Wendy’s generosity with her talent, con- admire.” 1922 – 2012 fidence and grace was inspiring to me as I joined Vancouver’s business community. Tamara Vrooman, President and CEO of Vancity and Director of Younger business leaders — and older ones too — were fortunate to tap The Vancouver Board of Trade into Wendy’s learning, as a result of her amazing business and life experi- ence. I was proud to follow in her footprints. I miss her deeply already.” “An innovative, inspirational, intuitive and international networker extraor- dinaire. An author and champion of the Debt Clock and the Nexus lane. Jill Bodkin, Director, Westport Innovations and Governor of The Vancouver Board of Trade Much loved and a hero to many.” Darcy Rezac, Managing Director Emeritus of The Vancouver Board of Trade “Wendy was never one to sit back when she had an opinion. More than once I heard Wendy politely but with just the right amount of tact say, “Wendy McDonald was a wonderful lady. She pioneered a woman’s role in ‘Excuse me I have something to say.’ Stand up and make your voice heard; business and broke many barriers. We look back on her long career with only one of the many lessons Wendy taught us.” great admiration.” Mary Anne Davidson, Vice President Human Resources, Acciona David McLean, Chairman and CEO, The McLean Group and Governor of Infrastructure Canada Inc., and Director of The Vancouver Board of Trade The Vancouver Board of Trade

“Wendy is an inspiration to every person who is familiar with her determi- “Wendy MacDonald was a hero to me as a young woman aspiring to a busi- nation, courage and use of the personal touch to trail blaze for coming gen- ness career over twenty years ago, and she continued to achieve and amaze in erations. It was an honour and privilege to have been able to call her ‘friend.’” business, family and philanthropy through the decades. She was a true icon!” Authur Hara, Friend and Governor of The Vancouver Board of Trade Tracey McVicar, Partner, CAI Capital Management Co. and Director of The Vancouver Board of Trade “Though I did not have the privilege of working closely with Wendy McDonald, I found her always to be insightful in her contributions to our “Wendy was a pioneer of her time who demonstrated through her actions discussions as to the role and future of the Board of Trade.” great leadership, business acumen, and an unwavering support of helping George Cadman, Shareholder, Boughton Law Corporation and Secretary- others in the community. A true role model for all British Columbians to Treasurer of The Vancouver Board of Trade emulate. She will be dearly missed.” Tim Manning, RVP Commercial Financial Services, RBC, and Director of The “Wendy was a pioneer and role model showing that women could be suc- Vancouver Board of Trade cessful in the world of business. Inspirational to all generations.” Elise Rees, Partner, Transaction Tax, Ernst & Young LLP and Director of “Wendy was a pioneer in the true sense of the word. Simply by ‘being’ she The Vancouver Board of Trade has led the way for so many, whether they know it or not.”

“Wendy was always there to take on new members, like me when I joined Denise Turner, Principal, Business Solutions Inc. and Director of in the 1990s, under her wing to learn all of The Vancouver Board of Trade’s The Vancouver Board of Trade protocol and to provide her vast experience and kindness. As our friend- ship grew, this Vancouver pioneer and matriarch gave me the honour of “Wendy had what business schools today call emotional intelligence or ‘EQ.’ sitting on the board of her award-winning family company, BC Bearing To her it came naturally through instinct and intuition. People wanted her Engineers Limited.” to succeed.” Allan Skidmore, Chairman and CEO, TCG International Inc. and Governor of Graham Clarke, President and Owner of the Clarke Group of Companies and The Vancouver Board of Trade Governor of The Vancouver Board of Trade February 2013 Sounding Board member news 9 Vancouver’s business community loses an icon Wendy McDonald, The Vancouver Board of Trade’s first female Chair, passes away at age 90

By greg hoekstra home following the war, McDonald Martin visited The Vancouver Board of ness leaders across Canada. She built a handed over the reins of the business and Trade for a special luncheon in 1998 and hugely successful business empire, and Leader. Trailblazer. Pioneer. went back to being a full-time wife and hit a symbolic gong to stop the clock just in doing so, she garnered more than a Those are three of the words most mother to her young children. shy of $600 billion. dozen prestigious awards and accolades commonly used to describe Wendy Mc- It wasn’t until 1950, when McPherson Also during her year as Chair, McDon- — including an induction in the B.C. Hall Donald, the former CEO of BC Bearing was killed in a private plane accident, ald led a mission to Ottawa and Washing- of Fame, a YWCA Woman of Distinction Engineers Ltd., who passed away on Dec. that McDonald returned to the business. ton, D.C., accompanied by then-Mayor Award, a Canadian Woman Entrepreneur 30, 2012, at the age of 90. Over the next half a century, she grew BC Gordon Campbell, to lobby for faster Lifetime Achievement Award, and mem- In the weeks following her death, busi- Bearing Engineers Ltd. into a business border lanes for business. This led to the bership in the Order of Canada. ness leaders from across the country have empire with 60 locations across the globe first incarnation of what is now known as Following McDonald’s passing, B.C. shared their condolences and memories and sales of more than $200 million. She the NEXUS system – a huge boon for busi- Premier Christy Clark issued a statement, of McDonald, who the Vancouver Sun did so through two more marriages and nesses and travellers across Canada. saying Wendy “set the standard for genera- described in a memorial as “an accidental while raising ten children. Not only that, “As our first female Chair, Wendy’s tions of business leaders - in how to run a business woman who became a jugger- but she did so during an era in which few impact on The Vancouver Board of Trade company and in how to give back to the naut.” women were in the workforce – let alone was both immense and indelible,” said community. Born and raised on a farm in North at the head of a thriving company. current President and CEO Iain Black, “She was an example of how hard Vancouver, McDonald’s business career In 1990, McDonald made history when reflecting on McDonald’s life. “Wendy was work and resilience are rewarded, as she began in the late 1930s when her first she was elected as the first female Chair an icon of our city’s business community, developed her company, BC Bearing En- husband, Robert McPherson, was sent of The Vancouver Board of Trade. During and she leaves behind a rich legacy. She gineers Ltd., into a major success story,” overseas to serve as a pilot in World War her year as Chair, McDonald helped spear- was a leader in the truest sense of the said Clark. “But she will perhaps be better II. head two key public policy initiatives that word.” remembered for her contributions to the Prior to his deployment, McPherson are still touted by The Vancouver Board of “I was always impressed by Wendy’s community at large, from serving as Gov- granted power of attorney for his West Trade to this day. commitment to the Board and its activi- ernor of The Vancouver Board of Trade, to Vancouver machine shop to his pregnant The first was the launch of a debt clock, ties,” added current Board of Trade Chair playing an instrumental role in founding wife, leaving McDonald to learn the ad- which drew attention to Canada’s rapidly Ken MartinBIV. “She 2012 was still attending Board the Vancouver Whitecaps.” ministrative side of the business in his growing federal debt. At the time, Canada’s events and1/4 Board page meetings Junior up until only A funeral service was held on Jan. absence. debt was $363 billion and was climbing a couple months4.8” x 6.2” ago. I can only wish that 10 in North Vancouver. The family has As it turns out, McDonald had a knack at a rate of $53,300 per minute, but as the I had the opportunity to work with her requested donations to the CHILD (Chil- for leadership. With her at the helm, the massive 1,500-pound clock travelled the much earlier**NOTE: in my career.all new She BIV was ads a real are thisdren size with Dec2012Intestinal and onwards** Liver Disorders) fledgling company became incorporated country, it raised awareness and began to inspiration.” Foundation in McDonald’s memory. Visit and began to expand east into Alberta. sway public opinion. After years of mount- Over her 50-plus-year career, McDon- www.child.ca for more information. However, when her husband returned ing pressure, then-Finance Minister Paul ald broke down barriers for female busi-

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Real Experience. Real Results. Discover the CHRP Designation at bchrma.org/chrp 10 member news Sounding Board February 2013 Energy efficiency rebates lower Impark celebrates 50 costs and save energy years of business

By Sarah Smith savings will also amount to an estimated By Jeff Clowers on more Minneapolis-St. Paul operations, 3,317 tonnes of greenhouse gas emissions, and moved into the Milwaukee market, and in ​Many businesses, both large and small, the equivalent of taking 650 cars off the road A single surface parking lot at 700 West 1995, completed a pair of acquisitions includ- have the opportunity to take advantage of per year. Pender. That’s where, 50 years ago, Arne Olsen ing its largest Canadian rival; Toronto-based incentives designed to help make it easier Naturally, not all businesses are conserv- began Impark, now one of North America’s Citipark. Impark was now substantially the for them to save natural gas, save money and ing such high amounts of energy to warrant largest parking management companies. largest parking operator in Canada. lead the way toward more energy efficient incentives of this magnitude, but restaurant In the early years, the business ran on a Development took back the spotlight in practices. operators, for example, looking to redesign shoestring budget, with owners engaged in 1999, when Charles Huntzinger was named This is made possible through FortisBC’s their kitchens could be in line to receive all aspects of the business – from counting CEO. Huntzinger saw the potential for Impark multi-year, multi-million dollar Energy Effi- a rebate of up to $3,500 per appliance, an money and putting up signs, to meeting with lay with expansion in the U.S. and the focus ciency and Conservation (EEC) program to amount that can contribute to the bottom property owners and striking new deals. shifted south of the border. enhance the energy efficiency tools and in- line while making business operations more But, with an eye towards the development Business boomed shortly after, with centives available to residential and business efficient. of a strong entrepreneurial culture and the Impark picking up major contracts such as gas customers, including large industrial From hotels to flower shops, there’s an creation of the service standards that became parking for the new San Francisco Giants customers like Quesnel River Pulp. incentive for almost any business. And those Impark’s hallmark, by 1980, Impark had the baseball stadium; the signing of six major Quesnel River Pulp, a division of West interested further showcasing their green lion’s share of the market in Vancouver. That Seattle management contracts for Class A Fraser, has made significant commitments leadership can sign up for FortisBC’s com- same year, Impark ventured into the Prairies, commercial towers; landing a management to reducing its energy consumption. For mercial renewable natural gas program. first in Edmonton, then Calgary in 1983, and contract for Cincinnati’s Tower Place Garage those achievements, the mill has received Right now, businesses can save up to later, Saskatchewan and Winnipeg. Expan- and 22 other area properties; and the forging an initial $250,000 incentive from FortisBC, $15,000 on energy efficient water heaters or sion was far from finished though, as 1989 saw of partnerships in New York and New Jersey. which could grow to $1 million over the next up to $60,000 on boilers. The amounts vary entry in the U.S. market with a single parking Although the successful U.S. expansion is three years. The pulp mill is the first par- and usually involve trading in older, less facility in Minneapolis. a source of pride for Impark, long-standing ticipant in FortisBC’s Industrial Technology efficient equipment for something more The next few years brought change for members of the company feel their involve- Retrofit Program, which offers monetary in- state-of-the-art. The difference in energy and the company, as ownership changed hands ment with parking for the 2010 Winter Olym- centives to industrial natural gas customers monetary savings can be quite significant. several times. But by 1992, Impark broke the pics was their true crowning moment. in exchange for energy efficiency improve- Both industrial and commercial natural 1,000-lot mark, with operations in all of the The company today, at 50, now com- ment projects. gas customers of all sizes can learn if a rebate country’s major cities. prises approximately 2,100 locations, is the The pulp mill plans to save approxi- is right for them by checking out the details of In 1994, Impark went public, raising $15 third largest operator in North America, and mately 70,000 gigajoules (GJs) of natural gas our energy efficiency rebates for gas custom- million, half of which was used to virtu- employs over 4,000 people – a long way from annually, the equivalent amount of natural ers at fortisbc.com/rebates. ally wipe out the company’s debt. As a result, the single operation at 700 West Pender. gas consumed by all customers in the city of Sarah Smith is director of energy efficiency Impark was now well positioned for further Congratulations Impark on a successful Vancouver over the course of two days. The and conservation for FortisBC. expansion and to fund acquisitions. It took 50 years!

Welcome to some of our newest members

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By Lynda Foley matters even more, we’re also come in once a week to provide tution. Individuals often plan living longer and our money has her with personal care such as for a lifestyle that does not take As the RRSP deadline looms, to go further. assistance with bathing, toilet- into consideration the inevita- many Canadians are thinking In light of this, you may be ing, grooming, or dressing. bility of deteriorating health. about retirement planning. wondering what a health au- Unfortunately, Marjorie Simple renovations and regular Chances are you are wonder- thority has to do with retirement falls and breaks her hip. After services like cooking and clean- ing whether or not you’ll have planning. emergency surgery and a short ing can increase costs to a senior enough to retire. At Fraser Health, we believe recovery period in hospital, by a couple of hundred dollars a Given the uncertainty about that Home is the Best place to she is ready to be discharged. month, add to that prescription the economy, stock markets, be. With the support of other The question for her and her costs, or major renovations and housing costs, pensions and community service providers family is where should she go? A you are looking several thou- interest rates, many of us are we can offer support for your residential care facility or back sand dollars a month. While questioning our original retire- health care needs so you can home? most of the time, these costs ment targets. be independent as long as pos- Marjorie, like most seniors in will need to be borne by the in- What do I want to do in re- sible. The health care system is Fraser Health, wants to go back dividual and are not covered by tirement? Travel? Volunteer? listening to the strong desire home and be with her cat and the publicly funded health care Will I have enough to do all of seniors to live in their own her friends in the community. system it still means everything those things? home for as long as possible. She is assigned a Home Health Lynda Foley to someone to continue to live What is enough? Consider this — only about 7 per case manager who is able to in their own home. Coming up with a figure can cent of seniors actually require adjust the level of support pro- company; fresh produce is de- So as you seek the ever- be a frustrating process. Finan- residential care. The rest of the vided by the community health livered by a local supermarket elusive answer to the question, cial planners will tell us that the senior population is able to live worker as Marjorie recovers and every week and taxi chits are what is enough, take a moment rule of thumb dictates that we out their lives at home. her care needs change. purchased so Marjorie can to consider the many curve balls should aim for a nest egg that Take for example, the case of Minor renovations are made visit friends and attend social life may throw at us. will yield about 70 per cent or “Marjorie.” A lively 80-year-old to her home including hand- gatherings in the community. For more information on the more of our working income with a history of rheumatoid rails in the bathroom to make The burden of care is shared by Home is Best philosophy and (this is true only if we no longer arthritis, she has lived on her it easier for her to get in and many so that Marjorie’s daugh- Home Health services, please have a mortgage or any other own with her pet cat. After being out of the tub, a housekeeping ter is not alone in caring for her visit our website at: www.fraser- outstanding debt). Realistically released from hospital following service is called in every two aging mother. health.ca. however, we each have different a mild stroke, she was assigned a weeks to clean Marjorie’s apart- These and other unexpected Lynda Foley is the Executive financial circumstances so a community health worker from ment; the freezer is stocked with expenses are what push seniors Director for Home Health and one-size-fits-all retirement plan Fraser Health Home Health. microwaveable “home cooked from living comfortably in their End of Life programs at Fraser is impractical. To complicate Her Home Health worker would meals” purchased from a private retirement years, to near desti- Health.

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CO_COMA_0062_Ad_SndBrd_4x6_Feb2013 Sounding Board - 4.8” x 6.2” 12 member news Sounding Board February 2013 Leading innovation in the workplace

By Graham Lovely workplaces? Young professionals are in a unique and advantageous position to lead Innovation strikes organizations when innovation by listening, observing, and leadership and communication work hand acting on the needs of those around us. in hand. Innovations arise as talented people What desire has a client voiced lately? Have look deeply at problems and experiment you taken that to a decision maker or kept with outcomes. Innovations come when it inside? How many times have co-workers people with vision imagine a different future brought up concerns in a lunch room but and boldly take the steps to make that vision never act upon them? a reality. These are precisely the lessons that Every day we are bombarded with ideas Sacha McLean of the McLean Group of and opportunities that are the seeds of inno- Companies recently shared with members vation. If a culture of strong communication of The Vancouver Board of Trade’s Company can be created where ideas can flow freely of Young Professionals program. throughout an organization innovation As president of Blackcomb Aviation and has a tendency to come naturally. Young Vice-Chairman of the McLean Group of professionals can help foster this free spirit Members of The Vancouver Board of Trade’s Company of Young Professionals program connect before hearing Companies, McLean has been innovating of communication by bridging generation from Sacha McLean of the McLean Group of Companies. Photo by Vision Event Photography for over 15 years. With the creation of Van- gaps and entrenched positions and dogmas, couver Film Studios and later Blackcomb to ensure that the ideas with potential can The McLean Group has shown this leader- of Young Professionals meet and exchange Aviation, McLean showed that innovation come to fruition. ship. Young professionals can do the same by ideas. Innovation comes when strong leaders and vision are intrinsically linked. He taught As McLean shared, leadership and the taking well thought out and executable plans such as Sacha McLean see an opportunity the young professionals in the audience that ability to make good decisions is an essential to the decision makers of an organization. and work hard to make it a reality. understanding an organizations needs and part of the innovation process. By acting on They can put together concrete evidence, This article was written by CYP partici- by listening to those who intimately know the ideas and challenges that are revealed case studies and examples to bolster the pant Graham Lovely, with contributions by the business, vision can become a reality. to a good leader, an organization can imple- feasibility of the idea and ensure manage- Przemek Cerazy, Ryan Lermitte and Oliver The McLean Group’s strength comes ment the changes needed for relevance and ment has the tools required to make the best Zihlmann. from their ability to react to a changing success. The leader has to understand the informed decisions. A young professional’s The Company of Young Professionals business environment and constantly re- proposals, create a framework for action, and role can often be the support structure for (CYP) is a leadership development program evaluate their positions while putting in identify the team to execute the plan. the leadership, which is an essential part of of The Vancouver Board of Trade which place the changes necessary to progress in A measured and deliberate approach can ensuring the innovative idea becomes more engages those in the early stages of their the future. The McLean Group and Sacha’s help the leader to ensure the proposed idea than a passing thought. career through leadership, networking, and experience was a tremendous example for solidifies into a desired outcome. Too many Innovation in the workplace comes when volunteerism opportunities. To engage your the young professionals of the CYP. good ideas are left to stagnate or go unimple- communication and ingenuity work togeth- emerging leaders or learn more about the How can we apply these lessons in our mented due to poor planning and execution. er. It comes when members of the Company program, visit www.tcyp.ca

Governors’ Banquet Monday, April 29, 2013 and Rix Center Awards 2013 Vancouver Convention Centre — West

Council of Governors Inductee The Rix Award for Engaged The Rix Award for Engaged Community Citizenship Corporate Citizenship

Wendy Lisogar-Cocchia Terance Hui President and CEO, Century Plaza President and CEO, Concord Pacific Hotel & Spa, Absolute Spa Group Developments Inc.

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On March 11&12, join British Columbia Premier Christy Clark along with business and government leaders from India and BC for a close look at our growing trade relationship with India. BC companies can learn how to take advantage of the many emerging export and investment opportunities. The BC-India Global Business Forum will feature expert speakers, insightful panels and networking receptions.

The Province of BriTish columBia inviTes you To The networking reception Monday, March 11, 2013 • 5:00pm – 7:00pm Pan Pacific Vancouver Hotel (Lobby Atrium) Bc–india Honourable christy clark 999 Canada Place, Vancouver, BC Premier GloBal Business Province of British Columbia Bc-india gloBal Business Forum 2013 Tuesday, March 12, 2013 • 7:30 am – 3:30 pm Vancouver Convention Centre (East) forum 2013 999 Canada Place, Vancouver, BC

For questions or more inFormation please contact: [email protected] or 604.640.5478 (Hindi & Punjabi Speakers Available)

Register Now at www.boardoftrade.com/bcindia

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For your generous contributions throughout January

Without your support, our events would not be possible. February 2013 Sounding Board member news 15

WOMEN’S LEADERSHIP CIRCLE® The other network, but don’t call us old

By Gayle Hallgren-Rezac Table and are made to feel very welcome and Judy Thomson right away.) Next, you have to tell people that you would like to get more involved It’s hard to believe that in the second either on a committee or in some volunteer decade into the 21st century there’s still capacity. Don’t assume they’ll just ask. talk about the “old boys network” and how If you commit your time and enthu- it works against women trying to move up siasm you will meet like-minded people, the career ladder. Yes, while the “old boys’ you’ll showcase your skills and you’ll often network” is still there – in varying degrees work with more senior women (and men). based on industries – there is another These are people you might not have an network, and it’s powerful if you just tap opportunity to meet in your day-to-day life. into it. It’s the women’s network. Inform your boss that you are making this The secret sauce in women’s net- volunteer contribution. Being a member of works The Vancouver Board of Trade’s Community In Catalyst’s latest research report Affairs Committee or volunteering at the Gayle Hallgren-Rezac and Judy Thomson with Rick Mercer at The Board of Trade’s AGM. Photo by Dave Roels Leaders Pay It Forward they found that Influential Women in Business Awards are women “are even more likely than men to good for both your reputation and your Give your network more time to our life and career, why don’t we give it develop other talent. Sixty-five per cent of company’s brand. Your network is one of the most valuable more time? women who received career development Tips to tune up your networking skills assets for your career and life. It gives you Gayle Hallgren-Rezac is Chief Engage- support are now developing new talent, By definition joining a women’s network access to new opportunities and informa- ment Officer of Shepa Learning Company compared to 56 per cent of men, and 73 means that you’ll be networking. Use these tion you couldn’t find any other way; it’s and Judy Thomson, CA, is Chief Operating per cent of the women developing new events to enhance your skills as a what-can- an easy way to connect with women at all Officer. They are co-authors of Work the talent are developing women, compared I-do-for-you networker. stages in their careers; it’s where you find Pond! (with Darcy Rezac, managing director to only 30 per cent of men. This finding • Show up early. We know from experi- someone to talk to when you have chal- emeritus, Vancouver Board of Trade). Judy is helps bust the oft-cited “Queen Bee” myth ence that that’s when the best networking lenges, and it’s how you build your profile vice-chair of the Women’s Leadership Circle that women are reluctant to provide career happens! Step out of your comfort zone and as a brand ambassador for your organiza- Advisory Council and Chair of the WLC support to other women and may even talk to strangers—there’s very little ‘stranger tion. The question is: If it is so important Communications Committee. actively undermine each other.” Women danger’ among women. help women: This is the secret sauce of • Be a connector, either at the event, successful women’s networks, but to benefit or after the event. If you think there are you have to join and participate. two people who should meet, make that Upcoming events Not just a seat filler connection. Here’s how to start. Take a look at the • Follow up effectively. Set time aside calendar of events and commit to going to immediately after the event to send the WeDnesDAY, FeBRUARY 13, 2013 — 8:00 a.m. – 10:00 a.m. as many events as possible. Put these dates article you promised, make introductions in your calendar immediately. Going alone or reconnect people. the morning Leader: inspiring executive success can be anxiety inducing for some, but it • Recognize that attending an event Join The Board of Trade’s Women’s Leadership Circle® for the launch of our doesn’t take long to become known if you should not be based on “What can these three-part speaker series, The Morning Leader. Enjoy a continental breakfast are seen at events. (At WLC we make it even people do for me?” Instead, “What did these while you network at the Vancity Theatre then take a seat and learn about the easier for you, you can register to join a WLC people get from meeting me?” challenges, dreams and accomplishments of three high-profile executive leaders Wisdom that sticks in business, health and sports during a discussion moderated by Janet Austin.

By darlene forst ment, science, sports, and the arts have insights you can apply to your everyday Dream. Succeed. Better yourself. life and your career. The world is full of books, magazines With these things in mind, the Women’s and websites that promise to give you the Leadership Circle has created a new, keys to improve all these things. So what three-part series: “The Morning Leader”, Donna Wilson, Dianne Doyle, Rachel Lewis, Janet Austin, happens? You subscribe to magazines. running in February, May and September Vice-President, President & Chief Chief Operating CEO, YWCA Metro You buy the latest business books. You try 2013. In two hours you will eat, network, Human Resources, Executive Officer, Officer, Vancouver Vancouver, and Vice to skim this and flip through that in the learn, and be inspired. It’s an excellent LifeLabs Canada Providence Health Care Whitecaps FC Chair of The Vancouver Board of Trade hopes of catching the gem that changes start to your successful day. Please join us. your life. Those gems are rare. And, let’s We look forward to meeting you. Come and experience an educational and inspiring jump start to your day! face it: your time is precious. The first edition of The Morning Leader You can read all the business books you runs 8-10 a.m., Wednesday February 13, tHURsDAY, FeBRUARY 28, 2013 — 11:45 a.m. – 2 p.m. like and scroll through as many screens 2013 at the Vancity Theatre. Tickets avail- capitalizing on culture: the lululemon as you like, but when it comes down to able online at www.boardoftrade.com/ it, the wisdom that sticks with you comes events athletica Business model from stories told by the people who lived Darlene Forst is President and Senior with Christine Day, CEO, lululemon athletica them. Producer at Skydance Entertainment, and Join a WLC table for the luncheon at this event. And success in one field often has sur- co-founder of Rainkickers.com. She sits prising gifts to apply towards success in on the Advisory Council of the Women’s other fields. Leaders in business, govern- Leadership Circle. boardoftrade.com/wlc #wlcircle MJS: TSX-V A0BK1D: FSE

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