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_________ Friday April 17, 2015 _________

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Economy

Paul Tudor Jones II: Why we need to rethink capitalism

Paul Tudor Jones II loves capitalism. It's a system that has done him very well over the last few decades. Nonetheless, the hedge fund manager and philanthropist is concerned that a laser focus on profits is, as he puts it, "threatening the very underpinnings of society." In this thoughtful, passionate talk, he outlines his planned counter-offensive, which centers on the concept of "justness." Paul Jones is founder of Tudor Investment Corporation and an active philanthropist.


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Economy

Federal budget primer: lower oil prices weigh down Canada's economic growth

Federal government to remain in the black despite weaker revenue outlook

Ottawa - Plummeting oil prices are having a significant negative impact on the Canadian economy. Ahead of the federal budget on April 21, a new Conference Board of Canada report provides highlights of the current state of the economy and presents the forecast for the national economy.

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Cost

Consumer Price Index for March 2015

Ottawa - The Consumer Price Index (CPI) rose 1.2% in the 12 months to March, after increasing 1.0% in February. Lower gasoline prices continued to be the largest downward contributor to the CPI in the 12 months to March, posting a 19.2% decline. However, the decline in March was smaller than the 21.8% year-over-year decrease observed in February.

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History in the Making

Ontario Expanding Beer Sales to Grocery Stores

Represents the largest infrastructure investment in Ontario’s history

Queens Park - Ontario is moving ahead with its plan to unlock the value of certain public assets to help support unprecedented investments in transit, transportation and other priority infrastructure projects through the Moving Ontario Forward plan. This represents the largest infrastructure investment in Ontario’s history.

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Retail

Retail trade for February 2015

Ottawa - Following two consecutive monthly declines, retail sales rose 1.7% in February to $42.2 billion. Gains were widespread as all 11 retail subsectors reported higher sales. Sales at motor vehicle and parts dealers rose after four consecutive declines, while sales at gasoline stations rose for the first time since June 2014.

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Beer/Cider

Ontario Craft Cider Hoping Provincial Budget Provides Clarity

Toronto - The Ontario Craft Cider Association (OCCA) applauds the program announced by the provincial government that provides Ontario Craft Beer greater sales channels to reach Ontario consumers. While this is a positive step forward for craft brewers, Ontario Craft Cider is asking not to be left behind.


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Demolition

Public safety concerns lead Chief Building Official to call for the demolition of former Mayfair Hotel

Kitchener – At 3 p.m. yesterday, the city’s chief building official issued an Order to remedy an unsafe building under section 15.9 of the Ontario Building Act which calls for the demolition of the property at 11 Young St. (the former Mayfair Hotel). The owner has until Tuesday, April 21 at 5 p.m. to apply for a permit for the demolition. The Order was issued because of significant structural issues identified by two separate structural engineer’s reports. According to a report by MTE Consultants, hired to do an independent assessment by the City, some of the structural deficiencies pose “immediate life safety concerns”. Additionally, the MTE report indicates “the building is in an unsafe and unstable condition” that requires immediate attention given the location of the building and the pedestrian and vehicular traffic around the property. This came to light as a result of a water service break on the weekend.

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ICI Building

Investment in non-residential building construction, first quarter 2015

Overall, investment decreased in eight provinces in the first quarter.

Ottawa - Investment in non-residential building construction decreased 1.2% to $12.9 billion in the first quarter, following three consecutive quarters of growth. This decline was largely the result of lower spending on the construction of commercial buildings.

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Skills & Trades

Skills Ontario, in partnership with colleges across Ontario, hosts Qualifying Competitions for the OTSC

On April 18, five-hundred students will compete at seven Ontario colleges in qualifying competitions for the OTSC

Kitchener – The Ontario Technological Skills Competition (OTSC) held at RIM Park in Waterloo is just over two weeks away. Featuring 67 skilled trades and technologies contests, and 2,000 competitors from high schools and colleges across Ontario, it is the largest skilled trades competition in Canada.

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OPSEU Statment

"Drink more beer" is bad social policy that will cost Ontarians more

Toronto - A proposal to increase the number of retail outlets selling beer in Ontario by 30 per cent is bad social policy that will cost Ontarians more, the Ontario Public Service Employees Union says. The Premier's Advisory Council on Government Assets, chaired by former bank CEO Ed Clark, made the recommendation yesterday.

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Education - Leadership Debate

Senate readies for non-confidence debates

London - Western President Amit Chakma continues to push forward on his announced 100-Day Plan, even as the university Senate prepares to debate a motion of non-confidence in his leadership on Friday. The president has spent the better part of his post-Senate meeting week launching his announced campus engagement plan. The President’s Office said Chakma’s schedule has been cleared of most external meetings “to remain available for internal opportunities.” On Monday, the president spoke to the Science Faculty Council, where he heard concerns over a range of issues, including rising tuition and fees, matching fundraising to university priorities, reduced staff support as it relates to research, contract faculty teaching loads and the challenges facing graduate students and postdoctoral scholars in launching their careers.

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Customers

Do Your Customers Suffer From Buyer's Remorse?

What to Do If the Answer Is Yes.

Hoboken, NJ —We've all bought a product in-store, only to return it after learning that it was available for a much lower price elsewhere. Or ordered an article of clothing online, only to be disappointed by the quality or fit once it was delivered. Or bought an exciting new gadget, only to find ourselves making frequent (and frustrating) calls to the support hotline in order to operate it.

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Pensions

Ontario Pension Board (OPB) earns 8.4 per cent investment return in 2014; funded status improves to more than 98 per cent

Toronto - Ontario Pension Board (OPB), the administrator of Ontario's Public Service Pension Plan (PSPP), ended 2014 with an annual investment return of 8.4 per cent. Net investment income during the year amounted to $1.64 billion and net assets exceeded $22 billion at year end.


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Restoration

What was will be new again - Controlled burn restores rare prairie habitat

North Dumfries - It was a long, slow burn but every calculated risk was managed so the prescribed burn on the rare Charitable Research Reserve yesterday went off without a hitch. Before ignition, Burn Boss Jay Sickel of Lands & Forests Consulting briefed his team, the rare group and members of the Cambridge Fire Dept on the painstaking details of the burn plan. Ken was on ignition, Carl on suppression. The rest of the team, with backgrounds in forestry, firefighting and at the Ministry of Natural Resources, each new their important duties too.

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Infrastructure Fund raising

Hydro One Ownership to Broaden

Can not sell substantially all of either the transmission or distribution assets regulated by the Ontario Energy Board

Toronto - Yesterday, the government of the Province of Ontario, being the sole shareholder of Hydro One Inc., made a series of announcements relating to our company. Among the announcements, the Government intends to broaden ownership of Hydro One through an initial public offering, following which the Government would be the largest shareholder, and no other shareholder or group of shareholders would be permitted to own more than 10% of the company. The opportunity to buy into Hydro One would be made available in stages in order to maximize return to taxpayers.

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Beer Sales

Beer Store statement on framework agreement

Toronto - The following is a statement from Beer Store President Ted Moroz: The Beer Store has always been proud of its roots in Ontario as a retail cooperative that supports brewers and brings value to consumers. Through periods of evolution and change in the beer industry, we always operated under a policy framework set out by the Government of Ontario and we will continue to work with the government now to implement our next generation of changes.

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Sale

Magna Announces Agreement to Sell Interiors Operations

AURORA - Magna International Inc. announced that it has signed an agreement to sell substantially all of its interiors operations to Grupo Antolin, a leading global supplier of automotive interior systems head quartered in Spain. The purchase price for the operations, excluding certain assets, is approximately $525 million, subject to customary closing adjustments for the value of net working capital and net debt at closing.

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IT Security

Security regains place as top technology priority for CPAs, North American survey finds

Privacy Protection, Data Management also key initiatives for AICPA and CPA Canada members

New York/Toronto – Professional accountants in both the United States and Canada say preventing security threats is their top technology-related priority. Most CPAs believe they are doing a good job of meeting security challenges relating to traditional networks and servers for their firms, clients and employers, according to the 25th Anniversary North American Top Technology Initiatives Survey, jointly conducted by the American Institute of CPAs (AICPA) and Chartered Professional Accountants of Canada (CPA Canada). However, concerns remain about mobile device vulnerabilities and sophisticated, persistent cyber threats.

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Entrepreneurship

Rate of decline in business start-ups in Canada reason for worry

It is critical that governments enact policies, including reforming the capital gains tax, supportive of entrepreneurship - By Jason Clemens and Niels Veldhuis The Fraser Institute

Vancouver - A number of prominent Canadians, including Bank of Canada Governor Stephen Poloz, have raised concerns about the state of business start-ups and entrepreneurship in Canada. There is no question that entrepreneurship is critical to a well-functioning, prosperous economy. New firms are the lifeblood of innovation, creativity, and economic progress.

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Destination of Choice

HockeyTech Canada: Changing The Face of Canada’s Most Beloved Game

Tech Innovation, incorporated in Canada as HockeyTech Canada, Inc. has arrived in Waterloo Region.

Kitchener - HockeyTech Canada Inc. scored a major goal when they chose Waterloo Region as the place to move their operations. With the assistance of Foreign Direct Investment marketing Agency, Canada’s Technology Triangle Inc., HockeyTech will be setting up shop in a former BlackBerry building on June 1st, 2015 and will be actively hiring in the community.

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Skills

The Five Critical Skills for IT Success
By Don R. Crawley

Are you fully prepared for a successful career in IT? The most effective IT professionals possess a particular set of skills—five of them, to be exact. Your mastery of the five critical skills is critical to your career success. These five skills will, when mastered, allow you to positively influence not only your career, but also the people around you, and even the world.

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Appointments

The Co-operators welcomes two new members to its Board of Directors

Guelph - The Co-operators welcomed two new directors to its board as the Canadian-owned insurance and financial services co-operative wrapped up its Annual General Meeting yesterday in Toronto. Louis-H. Campagna, representing the Quebec Region and Gilles Colbert from the Saskatchewan Region have joined the Board of Directors.

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Partnership

New applied research network to advance flood resiliency in Canada

Partners for Action created at the University of Waterloo

Waterloo - The Co-operators and Farm Mutual Reinsurance Plan announced the creation of the Partners for Action (P4A) Network at the University of Waterloo's Faculty of Environment. The two founding partners have committed $1.1 million to the new applied research network, which will work to advance flood resiliency in Canada in the face of a changing climate.

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Youth Education

Crime Stoppers of Halton receives $50,000 commitment from Economical Insurance

Waterloo — It’s no secret to the residents of Halton Region that they are living in one of the safest regional municipalities in Canada to raise a family and do business, according to Statistics Canada. To help maintain this reputation for community safety, Crime Stoppers of Halton provides a vital service that offers residents an avenue to report criminal activity with guaranteed anonymity. This not-for-profit also conducts visits to schools in the region to show youth how they can anonymously report criminal activities and help make their communities safer places to live and play and their schools safer places to learn. For tips that result in an arrest, Crime Stoppers pays up to $2,000 in cash rewards.


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Taxes & Transfers

Canada’s tax and transfer system more progressive than people think: MLI Report by Philip Cross

Analysis shows that middle and lower income groups already benefit more and higher groups contribute more than generally understood, with transfers making the largest impact

Ottawa – Calls for greater wealth transfer between high and low-income Canadians are louder than ever in a heated public debate about income inequality. But the debate has almost completely focused on tax rates, when in fact transfers have a much greater effect on reducing income inequality.

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This Weekend

Home Hardware Gets Set For Spring Market 2015: ‘Be Bold’

Semi-Annual Event Draws Thousands to Waterloo Regio

St. Jacobs – The population of St. Jacobs and the Kitchener-Waterloo area will swell this weekend as thousands of Home Hardware Dealer-Owners and vendors gather from across Canada for the company’s 2015 Spring Market: “Be Bold”, running from April 19-21

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Education

Preparing Students for the 21st Century

Developing a more peaceful world through intercultural understanding and respect

St. Catherines — It’s a challenging time for high school students, growing up in a competitive world and striving towards a job that quite likely doesn’t even exist yet. Graduating high school and getting into a good university is only the first step in facing this challenge. The students who are challenged to be creative, to apply critical thinking and embrace a global outlook are the ones who will first embark on a path towards success in the professional life that awaits after graduation. With an intense two-year curriculum focused on six core subjects, that is precisely the preparation provided by an International Baccalaureate Program.


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Succession Session

Panel session on Succession Planning for Leaders of organizations

Waterloo Region - One of the thorniest issues facing owners of business and boards of directors is succession planning. How does the organization prepare for and manage the transition of leadership? Either at the senior management level or within the board itself?

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