bot currents dec11
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CurrentsDecember2011
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December 11 Volume 8 No. 4Currents is published 4 times a year for members ofthe Saint John Board of Trade and Greater Saint Johnsbusiness community. Average circulation is 5,000 perissue including distribution to all Board of Trademembers and to all business addresses in GreaterSaint John. Opinions expressed in this publicationare not necessarily the view of the Saint John Boardof Trade. Suggestions and comments are welcome.
The Board of Trade cannot be held responsiblefor any errors or omissions that may occur in thispublication. Currents reserves the right to editany material submitted.
SAINT JOHN BOARD OF TRADE BOARD OF DIRECTORS
EXECUTIVE
John Warrington, ChairpersonCFO Atlantic Ltd.
Larry Hachey, 1st Vice-ChairBlueChip Leasing Atlantic
Eric Poirier, 2nd Vice-Chair
Bell AliantPatrick Sohy, SecretaryAvant-Garde Construction and Management Inc.
Matthew McKenna, TreasurerGrant Thornton LLP
J. Michael Murphy, Immediate Past ChairBMO Bank of Montreal
Andy Lodge, Member-At-LargeBarry Spalding
Christine Fagan, Member-At-LargeWorksafeNB
DIRECTORS
Rob Belliveau, Emera New Brunswick
Margo Buchanan
Michael George, Ambir
Kevin Hocquard, Stantec Consulting Ltd.
Dr. Mary Jarratt, Saint John Medical Society
Mary Keith, J.D. Irving, Limited
Grant D. Kimball, Angus-Miller Provincial InsuranceBrokers
Claire Ryan, FUSION
Dr. Ruth Shaw, University of New Brunswick, Saint John
Mark Sherman, Irving Oil Operations GP
Gerry Verner, Brunswick News
Scott Walton, Enovex
STAFF
Imelda Gilman, President
Carole Cunningham, Office & Events Coordinator
Michelle MacDonald, Administrative Assistant
Erinor Jacob, Policy & Research Officer
Nicholas Wheatley, Marketing & Sales Of ficer
CONTACT
Please address editorial enquiries to:
Saint John Board of TradePO Box 6037, 40 King St.Saint John, NB E2L 4R5
Tel: (506) 634-8111 Fax: (506) 632-2008E-mail: [email protected]
Visit our website at www.sjboardoftrade.com
Like Us on Facebook & Follow Us on Twitter
PRODUCTION
Editor: Imelda Gilman
Graphic Design & Production: Morrison Marketing
Printing: Transcontinental
Mail Preparation: United Catena Training Centre
Mailed under Canada Post Publications MailSales Agreement No. 40010390
During November we launched our new
Membership Growth Campaign:
Contribute.Develop.Grow!
This campaign is designed to strengthen
our member benefits, enhance our
community voice & expand Board
memberships. The goal is to provide our
members with an enhanced network in
which to draw upon. Here is a quick
rundown of how this campaign is focused:
Contribute: The Board of Trade
encourages feedback from our members
on issues that they feel are important to
our Business Community. This feedback
helps create policies & plans that support
the desires of our Members. A great way
to contribute is to get involved on a
committee, task force, member forum, or
participate in one of our online surveys!
Develop: We offer educational events
for our members to develop themselves
professionally through workshops, and
our Lunch and Learn series. Through the
support of our Members, the Board of
Trade also continues to develop our
business community in the directions set
forth by our members and make our
community the best place to conduct
business.
Grow: Participating in networking
events, such as our mixers and
Distinguished Speaker Series Luncheons,
are great opportunities for our members
to promote and grow their businesses and
contacts. In order for the Board of Trade
to strengthen our members impact in the
community and their contacts, it is
imperative that we continue to create a
stronger voice. Over the next 2 years, we
have a goal to increase our Member
Companies to over 800 strong.For the Board of Trade to accomplish
this ambitious goal, we are asking for the
help of our members. Talk to your business
acquaintances about the Board of Trade
and why you are a member. Then refer
them to Nick Wheatley, our new
Marketing & Sales Officer. Each time we
add a new member to our organization
that translates into more connections, more
business opportunities and a stronger
community for our members to enjoy.
New Members can now quickly &
easily apply for their membership directly
online at www.sjboardoftrade.com. Also,
members can now register for events and
pay invoices online!
As Chairman of the Saint John Board
of Trade, this campaign is one of the
targets I set earlier this year when I became
Chair in May. As I mentioned in my
Incoming speech, it can be hard to
articulate all of the benefits of being a
member in the Board of Trade as the
intangibles can be more valuable than the
tangibles. With the increased ease of
applying for membership online, our great
member benefits, and our members talking
about their experiences, I am confident
we will reach our goal over the next two
years, making our Outlook 2012 exciting!
Seasons Greetings!
Saint John Board of Trade
Chairs Message
From left to right: John Warrington, Chairman
of the Saint John Board of Trade, with MarkCarney, Governor of the Bank of Canada,Larry Hachey, First Vice-Chair Saint JohnBoard of Trade, and Imelda Gilman,President, Saint John Board of Trade
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Outlook 2012
Conference Board
of Canada
declined marginally in the second quarter
and growth will hover in the range of 2
per cent this year.
The pace of economic activity should
pick up in 2012, but will be constrained
by weaker public spending as federal and
provincial governments are put on a path
back to fiscal balance. Public infrastructure
spending has peaked and will decline
sharply in 2012. Moreover, confidence
has been shaken by these turbulent times,
and there are signs that consumers are
tightening their purse strings and saving
a bit more of every paycheque. The
unemployment rate will fall only modestly,and businesses will continue to face the
need to adapt to a chronically strong
currency.
These difficulties will be keenly felt in
New Brunswick. Job markets and private
These are turbulent times for the global
economy. Confidence was shaken over
the summer by the European sovereign
debt problem. The American debt ceiling
debacle only added to the uncertainty and
prompted speculation about a second
recessionary period, driven primarily by
the inability of many governments to bring
excessive public debt loads under control.
Billions of shareholder value has been
washed away in the ensuing decline in
global financial markets. And even with
a deal in place to help the embattled Greek
economy, Europes problems are far from
resolved a fact reflected in the rollercoaster path of equity markets as we head
into winter.
A sluggish outlook south of the border
is also not good news for Canada. U.S.
real estate markets remain weighed down
by the backlog of distressed properties
and recent declines in consumer
confidence bode poorly for household
spending going forward. Still, there are a
few positive signs in the U.S. economy.
Businesses balance sheets are largely in
good order, commercial lending appearsto have finally turned a corner, and we
have also recently seen an uptick in
industrial and export activity. The current
forecast for U.S. growth has been
downgraded to less than 2 per cent in
2011, but assuming that the U.S. economy
avoids recession and begins adding more
jobs (a key factor in restoring confidence)
it will grow by 2.5 per cent in 2012
Canadas domestic economy has
performed relatively well compared to
most other developed countries.
Employment has recovered quickly, profits
have rebounded, business investment has
surged at a remarkable pace over the past
year and a half, and housing markets are
balanced. If Canada were an island,
sustained growth would be attainable. But
Canada is deeply integrated into global
trading and financial systems, and hence,
not immune to these negative external
factors. As a consequence, real GDP
investment have lagged the general
recovery in other parts of the country. But
there is some evidence that labour markets
are beginning to heal, and private
investment should increase heading into
2012 as interest rates are widely expected
to remain low for a while yet. The forestry
and mining industries will rebound,
providing a much needed boost to
manufacturing. And, as job creation picks
up, so will consumer demand, which will
be welcome news to the provinces
retailers. Governments contribution to
growth will be limited for several years
as necessary steps to eliminate the deficitare taken, which leaves the burden
squarely on the private sector to keep the
recovery going.
Todd A. Crawford, Economist
Conference Board of Canada
Mark Carney,Governor of theBank of Canadaspoke to Boardof Trade membersSeptember 20, 2011
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The Atlantic Provinces EconomicCouncil (APEC) released its annual
economic outlook for the four
Atlantic provinces in November.
While the global economic recovery
continues, diminished confidence
is translating into more subdued
growth prospects in 2012, globally
and in Atlantic Canada. There are
a number of risks to APEC's
forecast including the fiscal stance
in the US and the European
financial crisis.In 2012 APEC expects to see
muted growth in consumer
spending, limited employment
growth and a slowing housing
market across most of the Atlantic
region. Government spending is
projected to decline while the
outlook for exports is mixed due to
modest global demand growth and
anticipated changes in Atlantic
Canada's output of key products.
Newfoundland and Labrador's
growth will rise 4.2% this year on
a jump in mining production and
capital investment. In 2012, lower
oil output will offset further gains
in mining and continued strong
investment with real GDP forecast
to moderate to 1.1%. Slower
APEC
Update
employment growth will alsoreduce gains in consumer spending.
In Prince Edward Island, weak
consumer growth, declining
government capital spending and
slowing exports will lead to GDP
growth of about 1.3% this year. A
slow recovery in the US and further
cuts in public investment will keep
GDP growth weak at about 1.2%
in 2012.
Poor consumer growth and
slowing investment in Nova Scotiawill lead to growth of about 1.0%
this year. GDP growth will be
limited to growth of about 1.2% in
2012 assuming the paper mill in
Port Hawkesbury remains closed
throughout 2012 and expansion
plans get underway as planned at
the Halifax shipyard.
New Brunswick's overall GDP
is expected to increase 1.5% In
New Brunswick in 2011, as
stronger exports partially
compensate for a weak domestic
economy. Real GDP is forecast to
grow 1.3% in 2012 as weak capital
investment and fiscal restraint limit
growth potential.
Media release from Atlantic Provinces
Economic Council November 2011.
Saint John one
of Smart21
Outlook 2012
Saint John is the intelligent choice.
The city has been designated one of the
worlds Smart21 high tech hot spots by the
Intelligent Community Forum, an international-
based organization dedicated to economic and
social development in the broadband economy.
Saint Johns application highlights the early
world-leading work done in the city by NBTel
developers and its Living Lab and the influence
it had on the development of the citys
contemporary broadband culture.
The application highlighted the citys modern
development including the contributions of
Enterprise Saint Johns innovative True Growth
approach to multi-sector development, UNB
Saint John in the creation of a knowledge
workforce, PropelICTs mentorship ofentrepreneurs, BCAPIs commitment to social
innovations and Uptown Saint Johns campaign
to encourage people to live life Uptown.
According to the most recent census
statistics, Saint John has the highest median
income in New Brunswick and increasingly
those earnings belong to university and
community college-educated citizens. Between
1991 and 2006, the number of university-
educated residents rose by 40 per cent; 24 per
cent more Saint Johners hold community
college diplomas.Becoming a Smart21 community is the first
step in Saint Johns bid to become one of the
Top Seven Intelligent Communities for 2012.
That announcement will take place in early
2012.
Excerpts from a news release by Enterprise Saint John.
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Saint John Board of Trade
Member Profile: Touchstone Community School
Education is the not the filling of a
bucket, but the lighting of a fire. This
quote by Yeats sums up the philosophy
behind Touchstone Community School,
and the evidence of this greets me every
day as I peer into the Grade 5 class, wherefuture doctors are eagerly dissecting brains
and eyeballs, or when I wander into the
grade two class, where future historians
are elbow-deep in water, panning for gold
as they learn about the plight of the early
settlers, or as I laugh and play a game of
soccer en franais with the Junior
Kindergarten class. Touchstone proves that
if children are inspired in the classroom
each and every day, academic success isnot a struggle - it is just what we do. But
what I love most about Touchstone is not
the fact that our kids are exposed to an
expanded and challenging elementary
curriculum, its the knowledge that their
learning goes far beyond what happens in
school. Touchstone kids have a head star
on the skills and qualities that have become
necessary for the world of tomorrow:
initiative, critical thinking, public speakingand most importantly, passion.
Article submitted by Jeff McAloon, Principal,
Touchstone Community School
www.touchstonecommunityschool.ca
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CONGRATULATIONS
AWARD RECIPIENTS
27th Annual
OBAAWARDS
THAN K YOU ~ TO OUR SPONSORS
MAJOR SPONSORS
BUSINESSEXCELLENCE
Bayview Trucks& Equipment Ltd,Mike Nagle
ENTREPRENEURIALACHIEVEMENT
PUNCH Productions,Judith Mackin & Robert Moore
EMERGINGENTERPRISE
Go-Go Gymnastics,Kara Hachey
YOUNGENTREPRENEUR
Keith Brideau(Historica)
CHAIRSAWARD
EnterpriseSaint John,
Tony Gogan
BIG HEART AWARDHestia House,
Elaine Northrup& Kelly Ferris
AWARD SPONSORS
Shred Guard | Saint John Energy | Enterprise Saint John
AVW Telav | Telegraph Journal | TriStar Mercedes-Benz
OUTSTANDING SPONSORS
Advocate | DCAM Productions | Morrison MarketingCHSJ Country 94.1 | 97.3 The Wave
GENEROUS SPONSORS
ClinicServer | Dillon Consulting | Distinctive OccasionsEastern College | Hilton Saint John | Key Industries
Lancaster Florist | Opera Bistro
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