Business News - March 2010

VOLUME 25, NUMBER 3, 0834-20X MARCH 2010

“Top North American Awardcomes to the Rock”

IN THIS ISSUE:•Mortgage lending policy changes

•Wrongful dismissal law•2010 real estate outlook

No need to leave theof home behind.Comforts

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Board of Trade RE Edition.indd 1 2/17/2010 9:29:05 AM

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

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

Articles and criticisms are invited, but opinions expressed by contributors do not necessarily represent those of the St. John’s Board of Trade. We encourage you to support the business leaders whose names and products you see advertised in this issue as well as throughout our entire membership. The Board reserves the right to edit submissions.

Editor: Krista Penney

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

Derek Sullivan ChairJo Mark Zurel Senior Vice-ChairSteve Power First Vice-ChairJanet Peddigrew Second Vice-ChairBruce Templeton Immediate Past ChairSherry Walsh Treasurer

BOARD OF DIRECTORS

Keith HealeyKim KeatingJerry KirklandJeff LeDrewDenis MahoneyMargot Bruce O’ConnellBrenda O’ReillyCelina Stoyles

STAFF

Nancy Healey ChiefExecutiveOfficerJennifer Chaytor Manager, Finance & ComplianceLori Coleman Business Affairs ManagerMargie Davis Sales ManagerCraig Ennis Vice President of Policy and CommunicationsWanda Palmer Events Marketer & Administrative CoordinatorKrista Penney Manager of Member CommunicationsSherry Ryan Member Relations Administrator

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

IN THIS ISSUEContents

Business News

COVER STORY 2CHAIR’S MESSAGE 3FEATURES 4KEEPING CURRENT 12MEMBERSHIP 18

March 2010 1

mailto:[email protected]

http://www.bot.nf.caIN

http://www.bot.nf.caIN

Cover Story

Business NewsMarch 20102

brokEr of THE yEarEXIT realty Corp. International broker of the year for North america

You take away the tuxedos at the awards, the glossy pictures that the public see, the high tech

responses the customer is privy to, the glorifiedheadlines,themedialaunchtothe public…and you get down to the real job that makes all that happen. Exit Realty Corp. International, Broker of the Year for North America, is an award earned from the trenches. Squires will tell you that just over fiveyearsago,theExitfranchiseinNewfoundland and Labrador was just a sign over the back door. She eludes to the 3000squarefeetofofficespacewithgreenwalls and grey carpet, the future hers to unfold. A wonderful piece of paper that says she bought a franchise and a mountain to climb with no map or chart indicating where to start. As days became weeks and weeks became months, the agenda was much more formidable. Many agents joined the group as this was the latest concept in realtor remuneration.Theofficewassoonburstingat the seams, secondary locations were needed, and new agents were lining up to join this great new concept in real estate.Now,fiveyearslater,Squiressays,“Themountain doesn’t seem so high anymore. My goals are achievable; not just dreams these days.” A force to be reckoned with, Exit Realty on the Rock is now in a strong number two position in the Newfoundland and Labrador real estate market. With 100 agents, four locations and a state of the art, ultramodern9000squarefootmainofficeon 25 Kenmount Road, Exit Realty is in its prime. A full service training facility centre, a gym (and even a tanning bed) for the staff, and enough young positive energy to light up the town, Exit group of Newfoundland and Labrador has earned the right to brag about their good fortune Anne Squires is no stranger to hard work. If it means a 4am start to get the job done, then 4am it is. A 70-hour work

week, enthusiasm and unique marketing ideas that create awesome networking opportunities for agents, Squires takes her role with utmost diligence and builds staff camraderie that ranks second to none. Squires is a big believer in delegation, following her motto of, doing what you dobest.“Inhousemanagers’playapredominant role in shaping the whole landscape of the management team,” explains Squires. She jokes about her technologycapabilities,“Iknowhowtosend an email…that’s not my department. Squires has placed great emphasis on giving back to the community. You name it, they’ve done it. Adopted greyhounds, placedfirstinSantaClausparades,helda rock-a-thon at the local mall raising $60,000 in one day, joined Big Brothers, became partners for life with Blood Services, organized six successful annual food drives, raised more than $100,000 for Daffodil Place at a gala event – and that’s just scratching the surface! Squires says, “StaytunedforourbigeventinSeptember.We’re going to raise $100,000 in one night! High energy at the community level, amazing staff retention, extensive training at the launch of every realtor’s career, hands-on day to day management and an unprecedented chunk of market share, gained in just a few years, places Anne Squires and Exit Realty on the Rock as a bigplayerintherealestatefieldinNorthAmerica. Squires was a keynote speaker in Washington at the Exit International Convention in 2009 and spoke to a standing room only crowd on her select topic, If you think you can…you can. Enthusiasm, tears, reality checks, and a NewfoundlandflarefromShawnSilverof

the Irish dance group iDance, left attendees with bundles of positive chatter for the days to come. At the annual awards presentation, just one day later, Squires was recognized as Broker of the Year for North America for Exit Realty Corp. International – the top award of the convention. Founder and CEO, Steve Morris, presents one broker with this prestigious award annually. This year our very own received the honor. Squires, overwhelmed with this acknowledgement, continues to stay grounded and looks forward to the New Year.“Wehavebigplansforthisyear,”saysSquires.“Servethecustomersfirstand foremost. Give employees a place they love to go to work. Don’t ever forget where you come from. Stay positive. Always love to go home at the end of the day. Remember every house you sellissomebody’scastle.Ifyoucanfixaproblem,fixit–ifnot,moveonanddon’t let it ruin your day. Respect your competition; they keep you on your toes. Love what you do, life is too short not to.”“We’resittingonthetopofthemountainnow. We’re going to stay there.” Squires jokes,“Wemightevengetadeedtoit.”

Anne Squires, Broker/Owner of EXIT Realty on the Rock can be reached at [email protected].

On the cover: Anne Squires


Chair’s MessagerEal ESTaTE

Business News March 2010 3

This month’s business News focus – real Estate, Construction and legal is very timely.

Recently, the Board started a campaign to talk about development and balanced growth

in St. John’s to ensure that we are taking advantage of opportunities that are presenting themselves for our future, while respecting our past. There are a few reasons why we have taken on this particular piece of work. First, the Board is responsive to its members needs about its leadership role in ensuring that public debate on development issues are rational and based on fact and can happen in a productive way. We want to stimulate, through these rational and fact-based discussions, further critical thinking about the assumptions and foundation of existing public discussion. And, in the long term, the Board is looking to encourage visioning for the city, ensure decision-making authority remains in St. John’s and encourage investment and development that drives prosperity. So how does this relate to real estate, construction and legal? Well, because developmentwillhavesignificantandpossibly varied impacts on these industries. We have seen major changes in real estate over the past few years, both on the supply and demand side as that economic equation has changed substantially from any memorable point in our history. Construction has pressures that are new to the city and province as the competition for skilled labour is now a real, day-to-day challenge for contractors and project managers. And the legal community could be very busy in a growing economy as extra-provincial investment is attracted, as labour topics become increasingly complex, and as the demand for legal services both evolves and expands.

On developmentSo where does the Board stand on development in general? Firstly, the Board is pro-development. We believe that heritage and progress can, and must,

co-exist. Balance is a key principle in development. Fundamentally, we also think that there must be a vision for St. John’s and we must look at the full puzzle rather than individual pieces. Heritage and historical integrity are not reliant on one single building or view. Finally, one end result of development is ensuring that decision-making abilities remain in St. John’s, in the form of senior business and governmentofficials.Thesepeoplecanmake local decisions on hiring, investment in the arts and the community along with other decisions to ensure St. John’s is a place of choice for living and working. And if we think about this, that requires development that attracts and retains business.

How high, how big?The economics of building in St. John’s are differentfromfiveand10yearsago.Costssuch as construction and real estate are at all time highs. The reality is that projects require certain factors to be economical –tenantpopulation,floorspace.Inplacessuch as downtown, the means to acquire floorspaceotherthanviaheightarelimited. Density, achieved by increased heights, can be more environmentally friendly, foster greater productivity and support public transit, which would alleviate parking problems.

About where we liveBusiness is part of the community. Business people are volunteers and

neighbours who care about the city and province. Private sector development supports so many things. The private sector contributes directly to arts, recreation and other meaningful things that support a high quality of life. Business and community goals do not have to be mutually exclusive. The effect of a strong business community is felt throughout the community, not just by other businesses. For instance, local decision-makers in the private sector support local artists, events and community efforts.

The business perspectiveThe Board is committed to the idea that companies should be able to operate in a business environment that respects and values their right to grow and prosper because with this follows growth and prosperity for the entire community. Critical to this is the ability for businesses to develop their properties in an economically viable manner. We welcome investment in this communityandwemustfindwaystomakethis happen, rather than discourage it. St. John’s is continually in competition with Halifax and other cities for investment. We have several members who are continually approachedtomovetheirofficestoHalifax. It is critical that we have the infrastructure and environment to compete, because we know we have the quality of life and other factors that employers and employees want. Talking about the business perspective is a good place for me to forgo the one-way dialogue and encourage a two-way communication. Our perspective is your perspective, because we represent you. There are outreach activities planned, check our schedule of events. Your participation is required because we can contribute to the debate as a Board, but we need to hear directly from our members. So be a part of the process because you’ll be able to look back and say that you contributed. It’s why the Board was created inthefirstplaceandit’swhywestillexisttoday.

Sincerely,

Derek Sullivan

Chair, Derek Sullivan

Feature


loCal markETreal estate market overview 2010RESIDENTIAL MARKETStrong demand with less supply results in higher prices The residential market just keeps on rolling! Demand remains strong and supply remains tight for well located and appropriately priced homes. The underlining drivers for this strong demand appear to be the fear of having to pay more in the future, easy access to favourable financingandstrongemploymentthroughout the region. A substantial increase in land values over the past year spurred new home construction cost and more than offset a slight softening in the sub-trades. Anticipated higher borrowing cost in late 2010 may serve to increase demandinthefirsthalfof2010;however,could weaken demand in the second half. Pending an unforeseen increase in listing inventory, further price increases is anticipated.

MULTI-RESIDENTIAL/CONDOMINIUM SECTOREffective full occupancy With the apartment complexes at effective full occupancy and no new inventory on the horizon, rental rates should continue to increase. Not surprisingly, in light of these

trends, investor interest remains strong. A number of older apartment buildings in the university area have been purchased, renovated and converted to condominium units. Market activity also remains strong in the small scale two to six unit projects as entry level investors compete for limited supply. Prices/demand continues to strengthen in condominiums at all price points. Escalating construction costs and an aging population will stimulate condo demand and values in the coming year.

OFFICE MARKETLimited supply of space will lead to increased rents In spite of record low vacancy, 2009 failedtoproducenewofficespace.Withincreased demand for space, rental rents are expected to climb in 2010. There appears to be many renewals due, which could cause major concerns for tenants and a better return for investors. From a sales perspective, with capital markets contracting and investors sitting on the sidelines, 2009 was somewhat of a vacuum. Investors appear to be gradually returning to the market; however, it remains to be seen if capitalization rates will return to pre-recession levels. Buying opportunities will remain scarce with low vacancy rates and escalating rents anticipated for the foreseeable future.

Kirkland, Balsom & Associates Real Estate Advisors & Appraisers

Providing a Full Range of Advisory & Appraisal Services Since 1979

Jerry Kirkland AACI Bill Balsom AACI John Bishop CRA Wayne Roche CRA Mike Kirkland AACI

Call 738-1000

www.kba.ca HELPING YOU MAKE INTELLIGENT REAL ESTATE DECISIONS

Members of (ARA) Atlantic Realty Advisors (www.ara.ca) Integrity is our Motto.

LIGHT INDUSTRIAL SECTORStable growth - tightening raw land supply Light industrial land absorption remained stable throughout 2009. Market conditions are expected to improve in anticipation of a number of major construction projects. With Vale Inco and Hebron ramping up, industrial land values will continue to increase. Light industrial land remains scarce especially in the high demand areas close to the Trans Canada Highway. There appears to be a trend towards condominium builds as many small service companies see relatively lower entry cost as an opportunity to own.

Report submitted by Kirkland, Balsom & Associates – “Helping you make intelligent real estate decisions.” Contact them at 709-738-1000 or email [email protected].

http://www.kba.ca

http://www.ara.ca


Gardiner Centre ConnectsworkINg loNgEr


what does the elimination of mandatory retirement mean for your business?

Since the abolishment of mandatory retirement in 2007, employers are concerned about the implications

this may have on the workplace. Prior to the change in legislation, many organizations felt they were able to better predict when people would retire. Today, employers are left to wonder if people will remain in the workplace longer than “normal”.Researchillustratesthatintheshort term at least, many workers will decide to retire prior to the age of 65. People’s desire to travel, spend time with grandchildren, and/or participate in other activities such as volunteering, may all be pull factors that help people consider retiring at the earliest possible date. On the other hand, employees will also factor other things into their retirement timing decision. Employers should think of retirementdecisionslikeaflowchart,withmany parts feeding into other parts and all of those working together to formulate retirement timing decisions. For example, research has shown factors related to a person’sjob,andinfluencesfromotherimportant people in their life, like spouses, children, and friends, may affect retirement timing decisions. In the background of thesefactorsarefinancialissues,includingwhether a person feels they will be able to afford the things they need and want if they retire. With the economy just now in the recovery stage, many people are still feelingthefinanciallossfrominvestmentsthat took a nose dive. These individuals may be left with no choice but to stay working, regardless if they like their job or not. So what does the change in legislation mean for employers? Legally, employers have to be cautious about making judgments related to a person’s age. In some instances, depending on the employee, it may be tempting to want to urge people to retire at the traditional retirement age of 65. However, legally, this can and will open employers up to

wrongful dismissal suits based on age discrimination. Work policies that have long been in place within many organizations, in order to protect them from wrongful dismissal suits, are the same practices that apply in a case whereby there is an older worker who the employer sees as not performing his/her job. In cases where there are repeated and substantial performance issues that go unchanged, despite an employer’s efforts to help the employee correct their behavior, progressive discipline systems for all employees, and a regular performance appraisal that measures people’s performance on job-related dimensions are the standard policies that help employers

establish just cause for dismissal. Ethically, there is a much deeper question related to the abolishment of mandatory retirement that needs to be further discussed. The way in which older workers are often viewed is problematic. Older workers may well be the ones most informed on organizational practices, and in many instances have an immeasurable breadth and depth of knowledge and skills necessary to effectively complete the job. Today, age 65 is not what it used to be; people are living longer and are often quite able to work past the age of 65. If they are willing, and have the necessary knowledge and skills, they should be viewed as an asset rather than a liability. Enhancing mentoringprogramscanbenefitboththeorganization and older workers, and can allow younger employees to better value the experiences of their older coworkers.

Dr. Amy M. Warren is an Assistant Professor with the Faculty of Business at Memorial University. Her research interests are in the areas of retirement, health and safety, motivation, and goal setting.Connect with the Gardiner Centre and the Faculty of Business Administration at [email protected] with your questions on mandatory retirement or to let us know how the elimination of mandatory retirement is affecting your business?

Dr. Amy M. Warren, Faculty of Business

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Feature


propErTy ‘valUE’City planning from a valuation perspective

The redevelopment of an existing property or the development of a currently vacant site invariably

polarizes opinions. That’s a good thing because as citizens, we have the right to express our opinions. Depending on our business, personal or professional interests, our opinions are based on many factors ranging from preservation of view planes to planning, tax revenue considerations and investment opportunity. One aspect of redevelopment – or new development – which is not normally publicly addressed comes from a valuation perspective. It is the role of professional real estate appraisers and valuation consultants to provide this perspective. Reporting standards Real estate is one of the cornerstones of our economy, indeed, of our society. Caseinpoint–realestateisasignificantassetonthefinancialstatementsofcorporations which must answer to shareholders with regard to acceptable returns on investment for those assets. This is such an important matter that, in 2011, accounting professionals in Canada and other countries will cease applying Generally Accepted Accounting Principles (GAAP) and instead apply a new standard known as International Financial Reporting Standards (IFRS) for reporting the value of real estate assets. The conversion from current standards will impact both the accounting professionals who report them and the appraisal professionals who value them. As a property owner, you should consult with a member of either the Institute of Chartered Accountants or the Appraisal Institute of Canada to determine how this impacts you.Appraisals Although most real estate is owned by corporations, not all of it is. More and more individuals own rental properties from which they enjoy either value appreciation (capital gain) or income tax write-off (capital loss) – both related directly to value. The purchase and sale of real estate is the livelihood of realtors whose compensation is based on property sale prices. These

prices then provide the data used by professional appraisers to value similar properties. Banks, trust companies and credit unions depend in part on real estate transactions for their mortgage business and so, regularly request the services of professional appraisers as part of their mortgage-approval decision-making. Mortgage brokers, surveyors and many lawyers base their business on real estate.Long term planning Municipalities rely on real estate property values to provide the basis for property

tax revenue. The City of St. John’s has an assessment department dedicated to this sole purpose. Assessment is one facet of professional real estate appraisal. Yes, the economy of St. John’s is driven to a great extent by the value of real estate. However, investors in real estate want long-term value sustainability and, to have sustainability, there must be long-termplanningwhichdefinesresidential,commercial, industrial and other types of neighbourhoods. There must be a balance between:

Developing a site to its maximum •potential versus maintaining the character of older surrounding properties

Modernizing downtown to satisfy a •demand and to improve its appearance versus maintaining the character, heritage and charm, which attracts visitors, including those from cruise ships, to our city

Maintainingthemagnificentview•planes of our unique and famous harbour and“thenarrows”versuseffectivelylimiting the view planes to a much smaller segment of the city Allofthesefactorsinfluencepropertyvalue. In fact, valuation professionals need to know permitted uses, building heights,

Bob Tipple

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continued on page 7....

FeaturepropErTy ‘valUE’


ratiooffloorareatositeareaandotherregulations in order to value property and advise clients with regard to maximum potential uses and ultimate value. Changing parameters create uncertainty for developers, lenders and professionals. Furthermore, the market, which consists of purchasers, renters and vendors, are willing to pay for aspects of real estate that we like. However, we will also turn our backs on over-priced or otherwise undesirable properties. A little-known fact is that the role of the professional appraiser is to interpret the market – not set it. Creating value and vision Demand, as the result of the unique character of downtown, combined with a finitesupplyofdowntownproperty,hascreated value. The City needs clarity and consistency when considering development proposals. Our elected representatives have a responsibility to work collaboratively with the citizens of whom they represent, with the professional staff at City Hall andevenwith“outside”professionalstocreate a vision for our city, to formulate a plan and to adhere to the plan – otherwise known as the Municipal Plan. There is a long-standing legal process in place for the Municipal Plan so this is not new. The Plan may provide for variances but, from a valuation perspective, investors, lenders, owners and renters, especially those who are considering new investment in St. John’s, will have a much greater comfort level if the value of their investment is directed by decision-making based on a plan. Not an easy task – but it has to be done as our part of investment in the future.

Bob is Director of Research, Valuation and Advisory at the St. John’s office of Altus Group Limited. He has almost 35 years experience in the valuation of commercial and residential real estate and is a past President of the Newfoundland Association of the Appraisal Institute of Canada. He is also a past national Director of the Appraisal Institute of Canada. Bob can be contacted at [email protected].

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Feature


rEporT oN Small bUSINESSThe power to shape policyand the power of our network

Canada is a world leader in many areas: energy, natural resources andthefinancialservicessector

to name a few. Unfortunately, there is a critical area where Canada has fallen from leader to laggard. While the availability of broadband internet across the country remains high, we have slipped internationally in ensuring our digital infrastructure is world class and, asaresult,ithasbecomemoredifficultto attract and keep jobs in the knowledge-based economy. As part of the Canadian Chamber’s policy paper Mapping the Future of the Digital Economy: Key to Canada’s Economic Success that was released in June 2009, we are recommending that the federal government continue to work with the private sector to accelerate e-business adoption among small- and medium-sized enterprises (SMEs), and that the federal government creates a favourable investment climate that encourages foreign and domestic investment in Canadian e-business opportunities. Given the current state of the economy, it is vital that the government allocate resources for investments in ICT to jump-start Canada’s economic recovery. By establishing a solid strategy, the government can provide businesses and Canadians in general with the tools they need to continue to drive growth, innovation and jobs in the digital economy.

Small business stats in Canada According to Statistics Canada’s Business Register, there were 2,314,563 business establishments in Canada at the end of 2008, which represented a 1.2 per cent decline compared with December 2007. In December 2008, small businesses accounted for 97.9 per cent of employer businesses; medium-sized businesses accounted for 1.9 per cent; and large businesses accounted for 0.3 per cent. Given the nature of today’s economy, it

is no surprise that more people are self-employed, either by choice or necessity. AccordingtothemostrecentfiguresfromStatistics Canada’s Labour Force Survey, the number of self-employed workers increased by 40,000 to 2.633 million from 2008 to 2009.

Survey results and analysis Ninety six per cent of businesses that responded to the survey are using the internet for business purposes. Twenty seven per cent accept online payments and 31 per cent of businesses provided the ability for online ordering and tracking of goods. 87 per cent provided product information on their websites. When it comes to the adoption of e-business solutions for business-to-business online transactions, the results were mixed. The stats illustrate that more needs to be done to get business to use business-to-business e-commerce solutions to make their businesses more globally competitive. The key is to keep it simple – with the majority of businesses employing fewer than 10 people, they simply don’t have the time to dedicate to implementing and monitoring complicated and costly e-business solutions. Interestingly, 51 per cent of all businesses surveyed indicated that they did not have a privacy policy statement on their websites. The Canadian Chamber has worked with theOfficeofthePrivacyCommissionertoinform small businesses of their obligations with regard to customer information. On cyber security matters, 93 per cent of businesses are employing anti-spam/anti-virus protections for their business and 82 per cent update these protections at least once a month. 93 per cent of businesses havefirewallsfortheironlinebusinessand 89 per cent perform a regular back-up of critical data. Interestingly, 19 per cent responded that their business does not have a secure server, 42 per cent do not back up information off-site and almost a quarter of all businesses are not regularly updating theirspamfilters.

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Conclusions and recommendations The Canadian Chamber has been a champion of getting small businesses to use e-business solutions for years, dating back to the Canadian e-Business Initiative. Unfortunately, even though it hasbeenproventobeasignificantdriverof economic success, Canada still could be doing more to promulgate the varied uses of ICT.

continued on page 9....

FeaturerEporT oN Small bUSINESS


The federal government should:

1. Using best practices from other leading nations, establish a National ICT adoption strategy and National Advisory Council on ICT and the E-economy to better advance the adoption of ICT across all industry sectors and particularly SMEs.

2. Allocate resources for investments in ICT and make ICT adoption and use a government wide priority.

3. Continue to rely on the private sector investment and competitive market forces to drive broadband rollout across the country.

4. Work directly with the business community to better educate SMEs about existing available programs and services that could be accelerating ICT adoption and use among businesses.

An excerpt from, Powering Up the Network: A Report on Small Business Use of E-Business Solutions in Canada.

For a full report please visit www.chamber.ca (Policy & Advocacy/Reports and Submissions) or contact Krista Penney, Manager of Member Communications, St. John’s Board of Trade, at 726-2961, ext. 5 or email [email protected].

continued from page 8....

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Feature


pErformaNCE oUTComEwill policy changes impact Nl real estate?

Recently major banks asked the Government of Canada to consider making changes to mortgage

lending in Canada. They requested that the government raise the minimum down paymentfromfivepercenttotenpercentand shorten the maximum amortization period from 35 years to 30 years. Growing fears of a housing bubble persist in Canada and many worry that what occurred in the housing market in the US could happen in Canada. During this time Finance Minister, Jim Flaherty, announced that they are tightening up the mortgage rules in Canada and certain buyers will have to come up with larger down payments. Whether these changes to mortgages will have an impact on the growing real estate market in this province is unknown. A higher down payment could negatively affectmorefirsttimehomebuyersthananyone else in the real estate market. Thesebuyersmayhavemoredifficultygetting a mortgage if rules are tightened. This could impact the market because it is typically those buyers who tend to buy smaller, less expensive homes thus starting the chain, allowing other buyers to move up to bigger and more expensive homes. Meanwhile the economy in Newfoundland and Labrador continues to grow and prosper; in fact this province is leading most of the country in economic growth. Newfoundland and Labrador has several mega capital projects underway with more slated to begin soon, including the Hebron development, a nickel processing plant in Long Harbour and the Churchill development. Consequently the province is experiencing an in-migration surge and the population of the province is growing, an unseen trend for the past 30 years and the largest increase since 1983. Personal income rose also three per cent in 2009 as a result of higher wages and lower taxes. This strong economy in Newfoundland and Labrador puts us in a better place

because there will be more, high paying jobs for years to come giving people the opportunity to enter the real estate market. Meanwhile housing prices in Newfoundland and Labrador are still comparatively low to the rest of Canada,

makingfirsttimepurchasesmorefeasible.According to the Canadian Real Estate Association, the average price for a house in Newfoundland and Labrador as of December, 2009 was $231,107 compared to the national price of $337,410. Therefore, policy changes could have more of an impact in the rest of Canada where prices are already much higher and economies may not be as strong and vibrant as they are in this province.

Al Spurrell

In 2009, while the economy in the rest of the country was lagging, Newfoundland and Labrador’s consumer spending and private sector investment continued to grow. While housing starts cooled from record high levels in 2008, activity remained high from a historical perspective. Newfoundland and Labrador ranked second in housing start performance in 2009 for all of Canada. What impact the changes could have on the real estate market in Newfoundland and Labrador isn’t clear yet. The three key drivers for a strong housing market are employment, income and population growth and Newfoundland and Labrador are well positioned to perform positively. This is a good indication of how real estate will perform in the year to come.

Al Spurrell is Residential Construction Manager for Pennecon Real Estate Division and can be reached at [email protected].

“In 2009, while the economy in the rest of the country was lagging, Newfoundland and labrador’s consumer spending and private sector investment continued to grow.”



FeatureEmploymENT law


what is “wrongful dismissal” anyway?

We often read about wrongful dismissal lawsuits in the newspaper and hear about them

in conversations all the time. But what exactly is wrongful about dismissals? The basic starting point is to understand that the courts treat non-unionized employment as a contract. Whether it is written down (and it should be in some form) or merely an oral agreement, the employment relationship is based on the principles of contract. From hiring a casual entry-level employee for a day tothehiringofaCEOforanindefiniteterm, the relationship is a contractual one. It is formed with the elements of offer,acceptanceand“consideration”.Consideration simply means that there is an exchange of something valuable. In the employment contract, the employer pays compensation to an employee in exchange for the service of the employee.

The employment relationship is a contract

Once the employment relationship is created, all of the aspects of a contract apply. This includes things like the consequence of violating the contract and notice from one party to another to end the contract. Just like a lease, a contract of employment can be ended by giving notice. Here is why it is important to have some basic things in writing: if you don’t, the courts will imply certain obligations. One of the obligations that the courts will imply, if it is not written, is the requirement to provide reasonable notice if one of the parties to the contract wants to end it.

like a contract, an employment relationship can be ended by giving “reasonable” notice

Ifanemployeeisterminated(fired,laidoff for a long period, it’s all the same) without cause, the employee must be given notice of the termination or pay in lieu of notice. And that is where the wrongfulness comes in – the amount of notice given to an employee. Any lawsuit over a termination involves a two-step decision tree.

Thefirststepistoaskthequestion:wasthere reasonable cause to terminate the contract? If the answer to that question is yes, then the inquiry goes no further. If there is cause to terminate the contract, no notice is required to be given or paid. Cause means that the employee has failed to live up to the obligations of the employee’s side of the bargain. Again, if there is nothing written down, the courts will imply certain obligations that arise out of the employment contract. These obligations are various and include such things as a duty to provide service, a duty offidelityandsoon.Anoteofcaution:aminor breach of a minor obligation will

not necessarily provide an employer with “cause”.

If an employee has violated an obligation arising from the employment contract, no notice to terminate the contract is required

If there is no cause, the second step is to determine what the proper amount of notice would be. If the amount of notice given is less than what is determined proper,thenthedismissalwas“wrongful”.

If there is no cause, an employer must give an employee proper notice of the termination of the employment contract

The “wrongfulness” of a dismissal is the failure to provide proper notice where there is no cause

The majority of lawsuits deal with this second step, whether proper (read “reasonable”inthelanguageofthecourts)notice has been given for a termination without cause.

Check out the April edition of Business News for part two of this article.

Article submitted by Brian R. Gatien, B.Comm., MBA, LL.B., C.H.R.P.GatienLaw, Counsel to Employers. Brain practices management-side labour relations and employment law in St. John’s. He is a member of the Bars of Newfoundland and Labrador and Ontario.

Brian R. Gatien

Keeping Current


polICy maTTErS

Chair Derek Sullivan spoke at a public pre-Budget consultation hosted by provincial Finance

Minister Tom Marshall recently. The following is an excerpt of his speaking notes, outlining what the St. John’s Board of Trade advocated for on your behalf.

CompetitivenessOur provincial-focused advocacy work can be expressed in a single word: competitiveness. Competitiveness is essential because business’ success is based on being competitive here and abroad. While it is not the only factor, taxation has asignificantimpactoncompetitiveness. The province has done very good work to make Newfoundland and Labrador tax-competitive. Unfortunately, so have other provinces. We cannot stand still. We must constantly be seeking to improve our competitiveness. That, realistically, means improving our taxation regime. We would ask that government continue to be vigilant in ensuring the lowest tax rates possible for people and businesses in the province. The Board also looks forward to elimination of the Payroll Tax because it discourages job creation, business growth and local investment. We appreciate that the threshold has increased substantially and understand that tax revenues are needed for important public programs, but this tax-on-jobs needs be eliminated:

because a member with 800 employees •who reaches the $1 million wage threshold in January is consistently asked to re-locate his business to Nova Scotia;because we know other local •businesses which have sent work to other provinces because of this tax; and,because there is a trickle down effect: •big businesses enable the creation of small businesses.

Minimum wageMinimum wage needs to be discussed openly amongst stakeholders. We are nearing the $10/hour mark. The Board thinks we are at the point where everyone needs to strategize and discuss the ‘where

to from here’ scenario. The Board agrees with the desire to raise the standard of living for all Newfoundlanders and Labradorians, but we are cautious about reaching a goal via oneroad.Weallwanttoavoid‘artificialprosperity’, a situation where people are making more money but are no better off.With six months left in the current arrangement, we want meaningful consultations on where we go after July. The decision doesn’t have to be made now,

but the discussion needs to start now.

Debt paymentThe Board of Trade strongly supports debt payment because it is an investment in the future. The Government of Newfoundland andLabradorhasbeenputtingsignificantmoney towards paying down the long-term debt of this province. Keep working toward this goal because it will mean a more secure future for our children.

continued on page 13...

Keeping CurrentpolICy maTTErS


Other policy highlightsBoard representatives are talking with •federalgovernmentofficialsabouttheeconomic impact Marine Atlantic is having for mainland companies and how those impacts should translate into investment in the ferry service.Air access continues to be a top •priority as the Board works with partners such as the Business Coalition to support enhanced air service in and out of the capital and the province as a whole.Outreach and partnership continues •with groups such as WHSCC, who came to the Board to present to a roundtable of members; with MUN, who the Board is engaging in research priorities; and, the City, as a partner in on-going economic development and planning.

City prioritiesThe Board wants municipalities to have the capacity to offer services. St. John’s is a regional and provincial centre and, as such, is a unique case that requires some unique considerations. In fact, the Premier recently noted something along these lines to a local Rotary group. The Board of Trade encourages infrastructure renewal and other investments in the City of St. John’s, and we would encourage the province to moveforwardwithitsworkonfinancingarrangementsforthebenefitofallmunicipalities.Aparticularspecialbenefittothecapitalregion and the province would be an investment in the St. John’s Airport Authority’s new instrument landing system. This system would open up approximately700flightsand70,000passengers a year through St. John’s.

For a $7-8 million investment by the province, matched by both the Airport itself and the federal government, it is a winning proposition. Say one in every four passengers stays for two nights in the city and spends $300 locally. In one year, that would be $5.25 million into the local economy. This investment has a strong business case and we look forward to your support on this net contributor to our economy.

Federal budgetThe federal budget is coming soon. The Board made a submission through the federal pre-budget consultation, and recentlyspoketoMinisterKeithAshfielddirectly.Specifically,weadvocatedforthepurchase of a vessel for Marine Atlantic, stimulus money for cities and provinces to support multi-year projects, and the new landing system at the airport.

continued from page 12...

Keeping Current


aroUNd THE board

Board of Trade members enjoyed live music and delicious food at the Chair’s Inaugural Reception, held on February 4. The event was sponsored by the Delta St. John’s and Atlantic Audio Visual.

Derek Sullivan (centre), 2010 Chair of the St. John’s Board of Trade, is joined by founding and past-presidents. L-R: Andrew Crichton (1976), William Neal (1972-73), Burf Ploughman (1971) & Bob Innes (Founding President, 1970).

Board of Trade Director and owner of O’Reilly’s Irish Pub and YellowBelly Brewery, Brenda O’Reilly (L) and former Board Chair and Federal MP, Sibohan Coady (R).

The Dixieland Combo, comprised of students from St. Bonaventure’s College, welcome guests to the Chair’s reception.

2010 Chair, Derek Sullivan is sworn in by Deputy Mayor, Shannie Duff.

Board of Trade Chair’sInaugural Reception

Event sponsors

Keeping CurrentaroUNd THE board


OnWednesday,February3,theHonourableKeithAshfield,MinisterofNationalRevenue, Minister of the Atlantic Canada Opportunities Agency, and Minister for the Atlantic Gateway addressed the St. John’s Board of Trade at a luncheon. The Minister announced $350,000 for the upgrade of the Virginia River Trail.

Ralph Tucker, Chair of the Board for WHSCC and Leslie Galway, CEO of WHSCC address Board of Trade members at a lunch ‘n’ learn. They spoke about streamlining WHSCC processes and requirements to create a safer workplace.

CONCRETE PRODUCTS

--Garden Wall Block --

- Paving Stones various shapes and colors -Retaining walls- flower beds, water fountains and garden borders -Solid block for stability

260 East White Hills RoadP.O. Box 29059, St. John’s, NL A1A 5B5

Telephone: (709) 368-3171Fax: (709)-739-5681

Keeping Current


aroUNd THE board

Ennis perform at the JUNO luncheon held February 10 at the Capital Hotel

Melanie Berry, President & CEO of CARAS and Musicount, presents Board of Trade member, Susan Chipman, Sales Manager, Courtyard Marriott, with a JUNO prize package

Ken Marshall, Chair of the 2010 JUNO Host Committee (Ruckus on the Edge)

Keeping CurrentUpComINg EvENTS


LuncheonDr. Wilfred Zerbe is the new Dean for the Faculty of Business Administration of Memorial University. Please join us as he addresses the St. John’s Board of Trade with his vision for the Business Faculty at MUN and its relationship to the business community.

Date: Wednesday, March 10th Time: 12:30pm – networking, 1pm – luncheonCost: $39.50 member rate, $79 non- membersLocation: The Sheraton Hotel

Business MixersSt. Paddy’s Day mixer sponsored by Murray Premises Hotel & Eastern Audio

Date: Wednesday, March 17th Time: 4pm – 6pmCost: Included with membershipLocation: Murray Premises Hotel

Floor Source invites you to network with other members at a business mixer

Date: Thursday, April 22nd

Time: 4pm – 6pmCost: Included with membership Location: Floor Source Inc. 210 Kenmount Road

Lunch ‘n’ LearnThe provincial and federal governments, and other public sector entities, purchase a wide range of goods and services each year.Fromofficesuppliestoairplanes(and everything in between)! Could you be a potential supplier? Interact with key purchasing representatives at this exciting and informative event. Come and explore the possibilities.

Topic: Selling to the public sector – making the connectionDate: Thursday, March 18thTime: 12:00 pm – 2:30 pmCost: Included with membershipLocation: The Fluvarium

Progressive Management Consulting (PMC)

Topic: When and how to use assessments in the workplaceWho: Lewis EffordDate: Wednesday, April 14th Time: 12:30 pm – 2:00 pmCost: $25 member rate, $35 non- membersLocation: St. John’s Board of Trade

Book your tickets now! Call Wanda at 726-2961, ext 9 or email [email protected]

When it comes to electrical, quality matters.New Wire Solutions LTD

(709) [email protected]

Electrical Contractors- Commercial- Industrial

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Membership


mEmbEr NEwSCity thanks cruise industryOn Friday, February 12 the City of St. John’s thanked members of the cruise ship industry at a reception at City Hall. Mayor Dennis O’Keefe and Kevin Gushue, Manager of Tourism for the City of St. John’s, were both present. While speaking about the cruise industry Gushue said, “Everyyearitbringsinrevenueanditgives exposure to thousands and thousands of visitors…they’ll tell people where they’re from and what a great experience they had.” This season, 24 ships are expected to visit contributing millions to the local economy.

local companynamedCanada’s50 best managedCahill Group of Companies of St. John’s has been recognized among Canada’s 50 Best Managed Companies of 2009. The Cahill Group has demonstrated business excellence through a rigorous and independent process that evaluates the calibre of management abilities and practices, evaluated by an independent panel of judges. The 2009 50 Best Managed Companies generated $9.8 billion in combined revenue, had an average revenue increase of 23 per cent and employed over 39,000 Canadians. “Canada’s50BestManagedprogramisan excellent benchmark for entrepreneurial

relax!

A recent story in the Globe and Mail credited the success of the

recent G7 Summit to the place where it was held: Iqaluit. According to the writer, the location, where neckties and pointy shoes give way to snow suits and mukluks, eased the formality of these normally stuffy meetings. The result, apparently, was more engaged and productive dialogue. Business people tend to shroud meetings in complex agendas and pie charts designed to encourage dialogue and keep people focused on the issues. Oddly, these same things can disengage participants by making them feel reserved and perhaps even intimidated. When planning meetings, always establish a strong focus and clear expected outcomes, but also think of ways to put people at ease. Here are a few things we can learn from the G7 Iqaluit meetings:

Dress down.• Cotton and denim do wonders to lighten the intensity in a room. Just look at the change in atmosphere on Casual Fridays.

Get outdoors.• Freshair,evenafive-minute walk around the building, literally breathes new life into tired minds.

Include a non-meeting activity.• You may not have access to a dog sled team, butasnowballfightorTaiChidemocould have a similar impact.

Hold the session offsite.• Find somewhere new and unexpected. It will renew the group’s energy. (A Myx client recently said their best meeting – outside those held at Myx, of course - was a planning day conducted in lawn chairs at a pond’s edge.) Try one of these simple techniques at your next meeting. And tell participants you got the ideas from our G7 leaders!

MEETING TIPS

companies to measure their strength against,” said Shannon MacDonald, Deloitte partner and Halifax regional leader of Canada’s 50 Best Managed program. “AtlanticCanadiancompaniesaredoingwell and the entrepreneurial talent is strong. We are pleased to see all of these successes recognized.” The Best Managed designation symbolizes Canadian corporate success: companies focused on their core vision, creating stakeholder value and excelling in the global economy. The program has continuedtoraisetheprofileofCanadian-owned businesses that have outperformed their competitors, created thousands of jobs, achieved sustainable growth and excelled both at home and abroad.

Gina Pecore is President ofMyx Meeting Centre, located in Topsail.Call 834-6370 or visitwww.myxmeetings.com.

MembershipmEmbEr NEwS


Investing in entrepreneurshipThe Provincial Government is investing $95,000 in Memorial University’s Students in Free Enterprise (SIFE) and Junior Achievement of Newfoundland and Labrador to enhance entrepreneurship and improvefinancialliteracyamongyoungpeople. The funding is provided under the recently launched Youth Retention and Attraction Strategy. Junior Achievement of Newfoundland and Labrador will receive $70,000 to expand its Economics for Success program.“I’mpleasedtoseetheWilliamsGovernment is supportive of our efforts tohelpyoungpeoplematureintofiscallyresponsible adults,” said Sandra Patterson, President and CEO of Junior Achievement Newfoundland and Labrador. SIFE Memorial will receive a $25,000 grant used to support various SIFE outreach projects and the ongoing development of their HR tools and entrepreneurship information resources. Liam Kelly, President of SIFE Memorial explains,“Myhopeisthatoureffortswillencourage many young people to imagine themselves as future employers instead of employees and aspire to take on leadership roles.”

New Hr toolkit launchedEmployers throughout the province now have easy access to human resource management support in the form of a free, comprehensive toolkit. The site (www.nlhrmanager.ca) was launched on Friday, February 12, 2010 by the Honourable Susan Sullivan, Minster of Human Resources, Labour and Employment. Minister Sullivan stated that in recent years, recruitment and retention challenges have been a top concern for employers throughout the province and the rest of Canada. This is especially true for small to medium-sized businesses, which make up 90 per cent of industry in Newfoundland and Labrador. In partnership with the Newfoundland and Labrador Business Coalition and Students in Free Enterprise (SIFE) Memorial, the Department of Human Resources, Labour and Employment engaged 150 employers to determine the challenges faced by organizations and the most effective ways toaddressthem.Employersidentifiedan easy-to-use online HR toolkit as their greatest need. “Iamverypleasedtoseesuchapowerful and accessible management resource developed in partnership with

the provincial government and the business leaders of tomorrow,” said Denis Mahoney, Chair of the Newfoundland andLabradorBusinessCoalition.“Thisinitiative demonstrates the high level of collaboration that employers currently enjoy with the provincial government, and I look forward to maintaining that collaboration into the future.”

http://www.nlhrmanager.ca

http://www.nlhrmanager.ca

“Market trendsare changing. Howshould we respond?”You can’t afford a leap of faith when it comes to your property investments.When the stakes are this high, you need the gold standard in advice. AIC professionals are Canada’s leading authorities in real property valuation. Wecan help you make smarter choices with in-depth analysis, market insightsand practical solutions at every stage of the property lifecycle. Get the realproperty experts working for you; consult the professionals at AIC.

Learn more at newfoundland.aicanada.ca

Acquisition | Management | Development | Portfolio Diversification | Feasibility Studies

REAL VALUE EXPERTS

MembershipmEmbEr profIlES


Discover JAC and discover the future of marketing! For 20 years JAC has evolvedfromanindustrysignificant

Internetmarketingfirm,toanintegratedmulti-media power house. Founder, John Atkins, is an expert in online design and marketing strategies; including search engine optimization, social networking

and viral media. John leads a group of clever media pros in a harmonious

concoction of traditional media thinking and innovative web savvy. JAC is

remarkably innovative, illustrating the utmost respect for your brand! From CBS to the Caribbean, the UK to the US, JAC has achieved International acclaim. Talk withJAC–nobuffers,nofigureheads,

nothing lost in translation.

Helping corporations…more than just stress relief

What skills do you want to develop in your employees? How many programs do you have for leadership, problem solving, stress management, and teamwork? Have

you considered Frontline Paintball for paintball and our new service, paintball

lazer tag?Join Newfoundland companies such

as Aliant, Newfoundland Power, Schlumberger, Roebothan, McKay Marshall and many more who have

embraced paintball as a group activity and Frontline Paintball for our professional

approach. We will customize your teambuilding

activity and provide professional facilitation to help bring everyone

together and safely realize your goals. Paintball lazer tag may be a non-impact option for some members of your team.

Frontline Paintball has indoor and outdoor locations in St. John’s.

Please call 747-4653 or visit www.frontlinepaintball.com.

Having established operations in this province in 1974, Black & McDonald is adiversifiedprivatelyownedCanadiancontracting company operating across

Canada and selected global markets. The company provides a full range of electrical, mechanical, HVAC, millwrighting, utility

instrumentation and DDC services. Markets include; commercial, industrial, institutional, government, nuclear, petro-chemical, natural gas and offshore energy

resources development.Black & McDonald is registered and

licensed to do business in all provinces and territories,operating22officesfromcoast

to coast in Canada. They employ over 3000 employees with 450 in Atlantic Canada.

Their Atlantic Regional operation has been in existence since 1975 and is recognized

as the largest and most capable multi-trade contractor in Eastern Canada.

http://www.frontlinepaintball.com

http://www.frontlinepaintball.com

Presenting Partner Program

Membership


mEmbEr profIlES

Randy Dawe Photography & Framing is a full service photography and picture framing

studio that has been creating quality, consistency and value for clients since 1990.

Randy’s professional photography career spans more than 30 years. Whether you requireabusinessphoto,stunningfineartphotographyorcustomframingforofficedécor or gifts, special event coverage or even aerial photography in the wilds of

Labrador, we apply our proven expertise to every aspect of your photography every step of the way. Staying ahead of the game technologically has become a habit and is a big reason why we can offer our customers

the very best in photography services.We guarantee complete satisfaction on every

job and as perfectionists we’re not just saying that – we really don’t have a choice.

For further information please call 722-5812 or visit www.randydawe.com

Colonial Garage & Distributors Limited is a privately owned company, servicing the needs of the transportation industry

since 1926. Colonial has expanded from a single storefront operation in St. John’s to 12 branches in Newfoundland and Nova Scotia. With its vast inventory of parts

and accessories Colonial is recognized as Newfoundland’s leader in the automotive parts and accessories market. Colonial also operates an industrial division with a machine shop servicing automotive,

industrial and marine clients; a radiator shop specializing in testing and repairing automotive and industrial models, a body shop that caters to industrial equipment

with sandblasting capabilities and a repair shopfocusedoncommercialfleets.Ourstaff meets or exceeds industry standards

and we are proud of our reputation of being friendly, courteous and professional.

Standard luncheon (150-250 guests): $3,000

premium lunch(250- 500 guests): $4,500

Special events(i.e. awards luncheon, gala):

$6,500

The St. John’s board of Trade currently represents over 750 businesses in the St. John’s and surrounding areas. on average, the board arranges 15 luncheons per year to provide networking opportunities as well as

a forum for speakers on various topics of interest to our members. The board is pleased to announce a new program “The presenting partner program” which will allow

maximum exposure to showcasing partners at select luncheons throughout the year.

•Corporatelogopresenceonallpre-event promotional materials including website promotion as well as email notificationtotheover1000recipientsof the Board’s e-newsletter

•Acknowledgementfromthepodiumby the Board’s President

•Oneseatattheheadtable

•Opportunitytointroducetheluncheonspeaker

•10ticketsforthepartneredevent

•Opportunitytoplaceyourcompany’ssignage/handouts in the networking area

•Professionaleventcoordinationandon-site management of the event by Board staff

•EditorialcoverageintheBusinessNews

Presenting Partner package includes:

for more information contact margie davis, Sales manager, at 726-2961, ext. 2 or email [email protected].

http://www.randydawe.com


Membership


NEw mEmbErSHungry Heart CaféJane Halliday, Café & Catering Manager142 Military RoadSt. John’s, NL A1C 2E6P: [email protected]

Nine Island productions & Consulting Peter & Ronalda Walsh, Partners7 Amherst HeightsSt. John’s, NL A1E 3H9P: [email protected]

CableTec business Telecommunications Gerry Power, General Manager40 O’Leary AvenueSt. John’s, NL A1B 2C7P: 753-8353 F: [email protected]

The lakeside at ThorburnKim HoskinsDirector of MarketingP.O Box 9187Clarenville, NL A5A 2C2P: [email protected]

Investor’s group financial Services Inc. Paul Doyle, Regional Director 33 Pippy Place, 4th FloorSt. John’s NL A1B 3X2P: 753-4300 F: [email protected]





Contact to find out how we can help your business.

FREDERICTONSMSS.COM CHARLOTTETOWN HALIFAX MONCTON SAINT JOHN ST. JOHN’S

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Business News - March 2010

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