_1-10_FEB2010:_1-10_jan_2008.qxd 02/02/2010 2:17 PM Page 4 FEBRUARY 2010 spent, and reduce expenses as quickly the ship. We brought in Anthony Folan President’s Viewpoint as possible. Memberships, training, of Integral HR Solutions who travel, and marketing always seem to specializes in national and top the list for immediate cutbacks. international mergers, acquisitions, Sadly, along the way we had to let two and restructuring. Anthony graciously The Perfect Storm key staff members go, something no agreed to take on our project and join President can be proud of. Governing Council. Under his In 1991, the fishing boat Andrea Gail The beautiful historic building we direction, we organized five teams: set out from Gloucester, Massachusetts had hoped to call the BBoT’s home was events and services, policy, sales, for a late- season fishing expedition. purchased, in retrospect, at the wrong communications and The crew’s worst fears were realized at time and at a higher market value than finance/administration. Each team was sea on Halloween of 1991, when they it was worth. In addition to that, provided with a template and asked to are confronted by three raging weather extensive renovations were required to create a detailed business plan fronts which unexpectedly collided to make the building habitable. including financial projections and produce the greatest, fiercest storm in of the year when the economic By late summer 2009, we were staff requirements. modern history — The Perfect Storm. downturn really set in. These two compelled to list the property for sale. At the beginning of 2010, we This true story retold by movie makers events combined with the declining After a couple of months without offers, negotiated three different offers for the in 2000 tells of the courageous men and revenue from the BBoT-owned Driver we had to revisit all the work we did in property, and are continuing to do so. women who risk their lives every Vehicle Licensing Office (DVLO) set the the spring around whether we could We have also reviewed many rental working day, pitting their fishing boats stage for a force twelve weather system secure funding/financing to renovate properties/locations to find the best and rescue vessels against the that no one could have predicted. and move in to the property. Our new home. capricious forces of nature. Thankfully though, (nearly) everyone request to remain at 33 Queen Street On January 18th a very positive At the Brampton Board of Trade, we survived. was rejected by our landlord. We were meeting of the restructuring team was too have been confronted by the With businesses in every industry given a final extension of February 28, held and four of the five plans were perfect storm. Not at sea, but rather in sector tightening their fiscal belts, we 2010. presented. On January 25th we received business. And as luck would have it, I saw significant declines in three areas Intense and relentless membership the fifth plan, and we continue to work happened to be at the helm as that every not-for-profit Board of Trade and media scrutiny followed every step hard to merge the five plans producing President during one of the BBoT’s or Chamber of Commerce counts on that Governing Council considered. a cohesive strategy and plan for the most difficult years in history. growing each year: membership, Meetings in November and December new BBoT. The BBoT’s perfect storm began mid- sponsorship, and event participation. were very tense due to differing We firmly believe that by the end of year 2008 with the purchase of the Uncertainty in the economy forced opinions on what to do. March 2010 we will be settled in our building at 196/198 Main Street North. for-profit and not-for-profit businesses In December, it was apparent that we new home, with a new plan that The unforeseen climate change gained alike to carefully scrutinize every penny needed professional help in ensures our long-term viability, health even more momentum towards the end restructuring the BBoT in order to right and success. .