Business Edge

BUSINESS EDGE
News Magazine
Februar y 10, 2012 Vol ume 4, No. 2 Al bert a
putting business in focus
403.283.2225
www.baxterbean.com
See Hungary Page 10

20 Questions with Miklos Nagy
Title: President, CEO, Director and Portfolio Manager,
Quadrexx Asset Management Inc.
Born/raised: Budapest, Hungary
Education: B. Sc. (Honours) in Economics and Statistics,
University of Toronto
Achievements: Holds the CFA and CFP professional
designations; Past Chair of the Canadian Institute of
Financial Planners Association; Board Member of the
Exempt Market Dealers Association of Canada; member
of the CFA Institute, the Toronto CFA Society and a founding
member of the CFA Society of Budapest, Hungary; current
Chair and Co-Founder of Canadian Hedge Watch Inc., a
Toronto-based publishing and educational frm focusing
on the Canadian hedge fund industry.
Co-ordinates: www.quadrexx.com 1.800.921.9380
Tom Keyser
Business Edge
A
one-time Hungarian
refugee who parlayed
a youthful fascination
with higher mathematics into a
successful career in investment
management, Miklos Nagy built
Quadrexx Asset Management
from the ground up, with the
help of his partner and co-
founder, Tony C. Sanfelice.
Apart from serving as the
companys senior decision-
maker, Nagy is also lead re-
searcher for hedge funds and
index-related work at Quadrexx,
which creates, manages and
distributes niche investment
products. Under his supervision,
Quadrexx started the research
project (in 2005), which led to
the refnement of Index Plus
methodology, employed in
managing the partnership.
Nagy has become a leading
authority on alternative in-
vestments and hedge funds in
Canada and is the co-author of
Canadas frst hedge fund book,
Hedge Funds for Canadians,
published by John Wiley and
Sons in May, 2003 (second edi-
tion: July, 2005). Miklos has been
featured on national television
and in newspaper discussions
about hedge funds and has also
been invited as a speaker to nu-
merous fnancial seminars and
conferences for several organiza-
tions. He also co-authored the
Chartered Alternative Invest-
ment Planner Program (CHAIP),
a certifcation course ofered
by Radius Financial Education,
a division of Canadian Hedge
Watch Inc.
1. Having visited parts of East-
ern Europe, I know that only
Marxist economics was taught
in their universities while the
Soviet-dominated Warsaw
Pact (1955-1991) remained
in efect. Was that the case
in Hungary as well?
Yes, it was, but I didnt
study economics in Hungary.
I studied mathematics and
computer science in those days.
I was very good in math, with a
special interest in game theory.
Quadrexx CEO fnds
niche in hedge funds
Invest in Commercial
Real Estate with
REDEV Properties
See Page 17
Page 2 BUSINESS EDGE February 10, 2012
Index
BUSINESS EDGE
News Magazine
NATIONAL OFFICE
#1260 Sun Life Plaza
112 - 4th Avenue SW
Calgary, AB T2P 0H3
P: 403.769.9359
F: 403.769.1810
www.BusinessEdge.ca
PUBLISHER
Rob Driscoll
403.968.7638
Rob@BusinessEdge.ca
ADVERTISING
403.769.9359
Rob@BusinessEdge.ca
EDITOR
Megan Butler
403.769.9340
News@BusinessEdge.ca
ACCOUNTING
Jennifer Derouin
MARKETING MANAGER
Diandra Good
Diandra@BusinessEdge.ca
SUBSCRIPTIONS
McKinnley Prince
403.769.9359
Subscriptions@BusinessEdge.ca
Articles may not be
reproduced, rewritten,
distributed, disseminated,
transmitted, displayed,
published or broadcast,
directly or indirectly,
in any medium without
the prior written permission
of Business Edge.
CANADA POST PM 42018517
Return undeliverable mail to:
#1260, 112 - 4th Avenue SW
Calgary, AB T2P 0H3
WHEN SEEKING FINANCING, YOU
DON'T NEED IDLE TALK.
YOU NEED AN EXPERIENCED HAWK!
Growth Capital
Short-Term Mezzanine Funds
Loan or Equity
Have you analysed equity vs. debt and how growth can be
accelerated?
Have you considered partnering with a silent strategic source
of money? One who will partner and provide growth capital?
If your company generates $10 million or more in annual
revenue and is interested in having a partner that
specializes in raising capital, contact Peter Weichler now:
403.221.0912 PWeichler@OspreyCapital.ca
www.OspreyCapital.ca
Calgary . Winnipeg . Toronto . Nova Scotia
Standing strong
Avison Young released a
2012 forecast for commercial
real estate growth in Canada
and the U.S. with some
surprising results.
Page 4
For hire
Contrary to much of what
is being reported, a survey
commissioned by Randstad
Technologies and IBM
shows some good news
for IT professionals.
Page 6
Tech Style
Edge tech writer Tom Keenan
discusses some of the hot new
trends exhibited at the 2012
consumer electronics show.
Page 8

Buy, buy, buy
According to a recent report by
Moneris Solutions, Canadian
spending increased in Q4 2011,
with restaurants being the
leading category.
Page 12
Street Scenes
Nicole Strandlund highlights
the technology, energy and
forestry industries with
four companies making
big changes.
Page 20
Out of the Norm
Norman Leach discusses the
fndings of a U of C School of
Public Policy report comparing
public-sector wages in Alberta
with other provinces.
Page 22
Tats not covered?
Robert Half Management
releases some of the
most unusual employee
expense claims in a recent
survey which includes
responses from U.S. and
Canadian CFOs.
Page 23

Weathering the storm
Troy Medias Gwyn Morgan
lays out some strategies for
Canada to improve productivity.
Page 25
Te Lighter Side
Humour columnist Cassius
King makes an epiphanel
life decision to spend the
rest of his days in denial.
Page 30
Why advertise with Business Edge? Because it works.
Call Rob at 403.769.9359 or e-mail ads@businessedge.ca
February 10, 2012 BUSINESS EDGE Page 3
A
B
C
8
2
9
1
9
2
0
1
1
/0
9
Alberta Blue Cross delivers the coverage your
employees want and the cost management your
business needsall backed by unparalleled service
and easy plan administration.
See the Alberta Blue Cross difference for yourself.
Contact us today for a free
no-obligation confidential quote.
Edmonton 780-498-8500 Calgary 403-294-4004
Lethbridge 403-328-6081 Medicine Hat 403-529-5550
Grande Prairie 780-532-3507 Red Deer 403-347-7999
Toll-free 1-866-513-2555
Plus weve got lots of great new plan features you may
not know about, including
Direct billing for vision, chiropractic and physiotherapy
claims, in addition to direct billing for pharmacy and
dental claims.
Expanded online self-service options for plan
members and plan administrators, making plan usage
and administration simple and easy.
Direct deposit for claims payments and pre-authorized
payment for premiums.
Blue Advantage plan member savings program,
providing additional savings to plan members at the
point of sale on many products and services.
Paperless claims statements, through which plan
members can receive e-mail notifications for online
claim statements and direct deposits.
www.ab.bluecross.ca/group
Responsible for the
benefit plan at work?
Take another look at
Alberta Blue Cross
for your group benefits.
82919 Business Edge half page 3.73 x 9.71 full colour
NOV 18 ISSUE
Business Edge
A
lbertas NDP Opposition
leader Brian Mason says a
review of power company profts
and CEO salaries shows that
deregulation is needlessly cost-
ing consumers money on their
power bills.
Even though power com-
panies are making more than
their share, Albertans are paying
the highest fxed price ever for
electricity. Its time to regulate,
Mason said.
Profts of power generators
in Alberta rose as much as
25 per cent between the third
quarter of 2010 and the same
time in 2011. Enbridge made
almost two thirds of a billion
dollars in just three quarters
of 2011. Meanwhile, Enbridge
CEO Patrick Daniel earned
more than $8 million in com-
pensation in the same year.
Families shouldnt be
forced to become experts in
markets and pricing to avoid
being gouged. Power companies
are taking Alberta power con-
sumers for a rollercoaster ride
monthly. Albertans want of
this ride, Mason said.
Regulation is the only
way Albertans are going to
get the fair, stable and aford -
able power prices they need
to protect family budgets and
keep businesses competitive.
Mason: power companies
earning unreasonable profts
Business Edge
A
s part of its third annual
Red Tape Awareness
Week, the Canadian
Federation of Independent
Business (CFIB) released its
annual Red Tape Report Card.
While several governments
took steps forward on red tape
reform, the grades show there
is room to improve.
Te report card evaluates
federal and provincial govern-
ments progress to date on
regulatory reform. It looks
at measurement, political
leadership, constraints on
regulators and a permanent
commitment to report.
British Columbia earned
top marks for its leadership.
In addition to measuring
the red tape burden for a
decade, it recently passed
frst-of-its-kind legislation
requiring an annual report
on regulation.
Several provinces and
the federal government
improved their grades over
last year. Nova Scotias grade
took the biggest tumble,
while Manitoba, Prince
Edward Island and the North-
west Territories all received
failing grades for making little
or no progress.
Albertas grade on the
report card improved from
an F in 2011 to a D this
year. Richard Truscott, CFIBs
director in Alberta, observed:
Tankfully, the new premier
has been talking a good game
about the importance of
cutting red tape for entrepre-
neurs and small business.
Shes even appointed a task
force to conduct a short review.
But the Alberta government
is going to have to take much
more meaningful action in
the months and years ahead
in order to become a real leader
on red tape reform.
Alberta still lagging in
regulatory reform: CFIB
ISCAPI TO PARAISI
Yoo cun now uIIord yoor loxory HOMI...
Cuslom designed home & Iol $275,000
SeclacuIar ocean & vaIIey vievs
Lov cosl of Iiving
No healing biIIs, Iov laxes
Slevarl TilIe guaranlees your inveslmenl
WhiIe reserving veaIlh, Iay back, en|oy lhe
lroicaI ocean and your beaulifuI house in a
safe counlry

COSTA RICA uwuits yoo!
www.costuricunoceunhomes.com
1-Soo-S,o-1Sq1
Business Edge
B
eneftting from strong
fundamentals, Canadas
commercial real estate
markets continued to enjoy
stability and growth in 2011
despite global economic uncer-
tainty. Meanwhile, the United
States sufered from ongoing
uncertainty, with limited good
news concentrated in a few
select markets.
Each country has its risks and
concerns, but better days should
be ahead for both as the world
deals with its fnancial issues.
Tese are some of the key
trends noted in Avison Youngs
2012 Canada, U.S. Forecast,
released in mid-January. Te
annual report covers the ofce,
retail, industrial and investment
markets in 20 Canadian and U.S.
metropolitan regions: Calgary,
Edmonton, Halifax, Lethbridge,
Mississauga, Montreal, Ottawa,
Quebec City, Regina, Toronto,
Vancouver, Winnipeg, Atlanta,
Boston, Chicago, Dallas, Hous-
ton, Las Vegas, Los Angeles and
Washington DC.
Tere is a dichotomy in the
North American commercial real
estate market. Canada is experi-
encing a period of stability and
modest growth, while the United
States continues to search for
traction in the recovery process,
commented Mark E. Rose, chair
and CEO of Avison Young.
Despite this disparity, things
are looking up in both countries
as global fnancial uncertainty
is gradually resolved and clarity
begins to emerge, he added.
As Europe and the U.S. take
steps to deal with their eco-
nomic challenges and fnancial
markets begin to rebound, there
will be opportunities for com-
mercial real estate markets to
make further gains.
According to Rose, 2011 saw
solid demand in both countries
investment markets, with a
large pool of buyers driving
the market in Canada and U.S.
buyers focusing on safe assets
and avoiding risk.
Given the relatively small
investable universe in Canada,
we continue to notice a growing
trend of Canadian buyers
heading south of the border,
noted Rose.
A number of Canadian buy-
ers, be they pension funds, life
insurance companies or REITs,
are identifying opportunities
to expand their portfolios in
and beyond Canadas borders,
especially into the U.S. While
U.S. assets are currently available
at more attractive pricing, their
value is expected to rebound in
the coming years, making them
a good longer-term hold and
convincing many that this is the
time for cross-border deploy-
ment of capital, Rose continued.
Across the 20 Canadian
and U.S. markets that Avison
Young tracks, ofce vacancy
has trended lower, falling
from 14.7 per cent in 2010 to
13.6 per cent in the closing
months of 2011 an improve-
ment of 110 basis-points (bps).
Te double-digit ofce
vacancy doesnt tell the whole
story, however, said Bill
Argeropoulos, vice-president
and director of research
(Canada) for Avison Young.
Te performance of the
two countries is quite distinct
when you break down the
fgures. While the overall ofce
vacancy rate in Avison Youngs
Canadian markets in 2011
settled at a respectable 7.6 per
cent, the rate is nearly double
in Avison Youngs U.S. markets
(15 per cent). Tis is a clear sign
of the diferent pace of recov-
ery seen in the two countries,
Argeropoulos added.
Canadas leasing markets
have seen a swift recovery
to the point where new
development, particularly
ofce, is either underway
or announced in most markets.
Tis is quite remarkable given
that we just came through one
of the worst recessions since
the Great Depression a
healthy sign of confdence
from both the development
and the business community,
continued Argeropoulos.
A gap also exists between
the two nations industrial
sectors. Collectively, across
Avison Youngs industrial mar-
kets, vacancy declined 50 bps
between 2010 and 2011, ending
2011 at 8.3 per cent. Once again,
Canadas market is in much
better shape, displaying an
overall vacancy of 4.9 per cent
versus 9.7 per cent for the U.S.
Te report goes on to state
that in Canada, confdence
remains high coming of good
results in 2011 and as long as
businesses and consumers
remain motivated by the
underlying fundamentals
and not the headlines, the
countrys markets can anticipate
ongoing improvement.
Meanwhile, progress is slower
and unevenly distributed in the
U.S., with recovery struggling for
a foothold as caution prevails.
2011 was a year of sporadic
recovery in the U.S. with strong
capital fows and historically low
interest rates. Market recovery
was best seen in a handful of
larger coastal markets while
widespread caution persisted
and many businesses deferred
real estate decisions, noted Earl
Webb, Avison Youngs president,
U.S. operations.
Canadian real estate stabilizes, U.S. seeks traction
119 West Pender Street, Suite 123, Vancouver BC, V6B 1S5 1.800.760.4909 604.558.2500 info@taureanglobal.com
for Portfolio Rehabilitation
Taurean Global Properties
STEPS
12
TaureanGlobal.com
Be Wary of Professional Advice.
We are always amused when we hear individuals speak about how their
money is professionally managed. We hear this from the person that has
$1,000 in mutual funds as often as from a millionaire with offshore accounts.
In each case the assumption is that the investment advisor/counselor/fnancial
planner will offer wise guidance through the miasma of investment choices
and lead the client on the best path for that clients goals and situation.
The reality, more often than not and regardless of investment clout, is that
the client is lead to invest in a more or less prepackaged assortment of
securities that the frm suggests according to some asset allocation formula.
Does this sound familiar? if youre 60 years old, your account should consist of
40% equities and 60% fxed income (bonds, GICs and treasury bills). Theres
little mention of which equities, or fxed income securities should be included.
We feel that this myth that professional money managers are better
equipped to invest your money can be dangerous. In most cases money
managers are simply sitting behind computer screens watching what the other
money managers are doing. That way they have an out. It never fails; you al-
ways hear this mea culpa after a market meltdown: We didnt see it coming no
one could possibly have seen this coming.
At Taurean Global Properties, we saw it coming! We wrote about the potential
for a U.S. housing meltdown as early as 2005, but were dismissed as one of the
doom and gloomers. Hows that working out today? The best time to invest
with Taurean Global is right now! We are constantly searching for the right
multi family investment opportunities for our investors. We excel at the art
of purchasing undervalued properties in under appreciated areas, and then
unlocking the value. Do your research and come talk to us.
Call Kerry Philpott at +1 (403) 991-2855.
Dump your losers
Be wary of pofessional advice
Cash fow is king
Lower risk for higher profts
Get and stay ahead of the crowd
Diversifcation is a myth
Invest in what you understand
Increase your debt load
Get rich slow
Use defationary buying
opportunities
Everyones great when
everythings great
Hold everyone accountable
REAl ASSETS.
REAl RETuRnS.
REAl Good.
Business Edge
A
ccording to a recent
survey of Canadian
business decision-
makers commissioned by
Randstad Technologies
and IBM Canada, the IT
stafng outlook for 2012,
while featuring many areas
of strong demand for top
technology talent, is decidedly
mixed. But there are some
evident areas of strength
for information technology
professionals in search
of opportunity.
Since 2009, IT staf projec-
tions have continued to
increase and, according to
the results of the survey, this
trend is expected to continue
into 2012. Nearly half (41 per
cent) of the survey respondents
said they plan to keep their
IT stafng levels constant
in the near and long-term,
similar to what was reported
in 2011. In addition, 49 per
cent of those surveyed plan
to grow their current stafng
levels this year, while only
10 per cent expect to decrease.
According to Randstad
Technologies president
Mike Winterfeld, contrary
to much of what is being
reported, Randstad is seeing
active hiring within the ICT
sector in Canada.
Our data shows that the
ICT sector has remained very
strong throughout the course
of 2011. In fact, permanent job
orders and contract placements
were higher in 2011 than they
were in 2010, year-to-date,
Winterfeld said.
Te markets that weve
seen the most upswings in
recently are the fnancial
services and banking sector,
as well as government. In
terms of the types of roles
that are in high demand right
now, we have seen a notable
increase in companies looking
to hire business analysts, web
developers and diferent
infrastructure support-type
roles, added Winterfeld.
CIOs and VPs that were
surveyed said they will
continue to plan to hire
more IT staf in 2012 and
hiring plans overall are
in line with expectations
expressed in 2010.
New applications and
increased IT workloads are
said to be driving job prospects
for Canadian technology
professionals. Upgrades and
refreshes are currently ranked
as the biggest drivers for
increasing IT staf in 2012
(47 per cent), followed by
internal company integration
(37 per cent) and IT/data
security (29 per cent),
collaboration (26 per cent)
and cloud (24 per cent).
Finding skilled IT people
to address resource gaps is
challenging, particularly as
technologies converge and
skills in enterprise architecture,
collaboration, security and
cloud technologies continue
to be in demand. Companies
spent considerable time
in 2011 understanding the
various aspects of cloud and
assessing the impacts on their
IT strategy, service delivery,
and skill/resourcing gaps,
but they need to be better
prepared to look at creative
approaches to flling those
gaps, including leveraging
global resources, said
Robert Wylie, vice-president
of integrated technology
services, IBM.
Te results show that for
large and small companies,
project management and
business analysis continue
to be the talent requirements
most in demand within the
IT industry. Although these
two skills sets have remained
in demand since 2009, the
overall need has decreased
to 42 per cent (its highest
peak reached 50 per cent
in 2010). Te continued
growth in the demand for
these roles reinforces the
move to a more specialized
workforce with skills in
business and IT.
Nearly half (48 per cent)
of respondents expecting
IT staf increases cite
applications development
as a skill they will be looking
for over the next 12 months.
Te application development
skills that will continue to
attract the most attention
include .Net (33 per cent)
and Java (31 per cent). Tese
needs are similar across all
regions, with the exception
of SAP, which is more highly
in demand in the West.
According to Winterfeld,
Professional SAP skills are
particularly marketable in
most industrial sectors of
the economy. In this case,
the oil and gas industry is
directly contributing to the
increase in demand for SAP
in the West.
Over 60 per cent of
respondents indicated they
will also be looking for
infrastructure skills in 2012.
Technical project managers
(35 per cent), server
virtualization specialists
(33 per cent) and network
architects and specialists
(29 per cent) are among the
infrastructure skills that
will be in high demand.
Almost half of the survey
respondents currently use
global resourcing, in contrast
with approximately one-
third in 2009 and 2010.
Reducing cost is the primary
reason for using global
resourcing, although access
to skill bases and 24/7
services are also important.
Bright spots amongst mixed IT hiring projections
www.elbowvalleyhomes.com
OFFICE: 403.532.1816 | CELL: 403.816.8383 | jim@elbowvalleyhomes.com
JIMDOUCETTE
House of
Real Estate
EXPERIENCE THE unique
lifestyle OF ELBOW VALLEY...
Is there a Calgary move
in your future?
Whether you are buying your dream
home, or selling your current home,
Jim will work with you to achieve
your goal. He will provide individual,
personable service, and will always
work in your best interest!
23 FISHERMANS BEND
Outstanding family home;
lakeside living!
76 WOLFWILLOW LANE
Distinctive living; 2-acre homesite!
For details on these homes and on
the award-winning community of
Elbow Valley, please visit Jim's website!
Technology Edge
See Sensors Page 28
SAVE ON FOREI GN EXCHANGE RATES
Technology gets up close and highly personal at CES
Business Edge
I
t had to happen. Tis was the
year when the International
CES (consumer electronics
show) was best attended . . .
electronically. Of course, if you
need the buzz and the parties
and the junket to Las Vegas in
January, fne. Go stand in line
with 150,000 sweaty nerds to see
products that may
never even be avail-
able in Canada.
If you just want
to know whats
good and useful to
a Canadian busi-
ness or consumer,
the best vantage
point for the CES
this year was your
PC or smartphone.
Between bloggers,
YouTube videos and
media coverage, it was easy to
get the highlights and disregard
the bright, shiny toys that will
be obsolete in a year.
Te CES has certainly been
evolving over the years. When
it was founded, Procol Harums
A Whiter Shade of Pale was
topping the music charts and
you took your ice cream money
down to the record store to buy
a big round piece of plastic in a
cardboard sleeve. It cost $5.98
in 1967 dollars.
Along came Sony and
Panasonic and Hitachi and
Apple and all that changed.
Todays teens would dial 911
on the nearest smartphone if
you tried to extort the equivalent
($40) in todays currency for a
bit of music. And while Sony,
Panasonic and Hitachi continue
to make the trek to the CES,
Apple only sends spies and
Microsoft has announced this
will be its last year attending.
Still, the 2012 show attracted
record registrations and a quick
look at the exhibitor lists showed
the most common company
name begins with Shenzhen. It
is a great place to spot the next
hot trends.
One of those trends is
personalization, the idea that
your technology will seamlessly
alter your environment to suit
the way you live, driven by
sensors that just might be
in your Android-driven devices
like smartphones and tablets.
On the most
basic level, we
already have ofce
buildings that turn
of the lights when
they dont detect
movement. Tis
causes some bizarre
spasms as seden-
tary ofce workers
wave and jump
around to get out of
the darkness.
What Google
executive chairman Eric
Schmidt foresees is a lot bigger.
As he said in a keynote speech
at the CES, when you go into
the family room, the television
knows its you because of your
Android device. Presumably, it
then turns on your favorite show
at the appropriate volume level.
If you get a text message, it pops
up on your TV. Te Android-en-
abled refrigerator might also let
you know when the beer is cold
enough. It all syncs together,
said Schmidt.
Tis personalization could
automatically extend to your
ofce, car, even the shopping
mall, as smart kiosks vie for your
attention by ofering discounts
and deals.
One of the most fruitful areas
for personalization is energy
conversation. A company called
Nest manufactures a smart ther-
mostat that illustrates the new
paradigm beautifully. Current
programmable thermostats have
all kinds of buttons and cycles
for workday and weekend and
overrides and exceptions, with
the result being that nobody
really uses them well. A Nest
thermostat looks as simple as
the old-fashioned one on your
wall. However, every time you
turn the ring to raise or lower
the temperature, the thing
learns about your behavior.
One-of temperature chang-
es wont confuse it, states the
companys website, but change
the temperature a couple of days
in a row and Nest will catch on
and adjust its schedule.
You can also set it remotely
from a computer or smartphone
so the house will be toasty
warm if you decide to take
the afternoon of. Te company
claims that if your average
energy bill is $2,200, using
Nest intelligently will shave
of $520 in a year, which means
the thing should pay for itself
in about six months.
Schmidt made the point
that although home automation
systems have been around for
a long time, they were focused
on the uber home server, some
central master that was watch-
ing whats happening in all the
devices in the house.
Schmidt said, the right
model is to think of these
as peer-to-peer devices that
talk to each other. In other
words, lots of Android
devices, which Google is
pushing big time.
Another great example
of personalization is a new
kind of vending machine
that tailors your services
based on . . . your age. Intel
has created a prototype
called iSample that dispenses
pudding samples only to adults.
Authorized Provider of
From Page 1
Miklos Nagy grew up in Hungary, where he says it was like
everybody was playing (i.e. acting) in a theatre.
Hungary: Everybody more or less knew the truth but they didnt tell
My studies in economics
didnt take place until I moved
to Toronto.
2. Your background is
exceptionally interesting.
What was it like growing up in
Budapest during those years?
Tey used to call Hungary the
happiest barrack in the Eastern
bloc, which was more or less
true. I wouldnt say it was a
happy place but it was happier
than other countries in Eastern
Europe, where life was pretty
bleak. To me, it was like every-
body was playing (i.e. acting)
in a theatre, everybody knew
what they could or could not say.
Everybody more or less knew the
truth but they didnt tell.
3. So you had to play the
game to survive?
Everybody played a role, a
lie. If you strayed away from (the
government line), the conse-
quences were not that serious in
the 60s, 70s and 80s. Tey may
have put you in prison, but only
if you did something really bad
from (the authorities) point of
view. But you had to be careful
or you couldnt rise in society or
get a very good job.
4. What was the employment
situation like in those days?
It was obligatory to work so
the whole country worked; on
paper, at least. But there was
only so much work to do. As a
result, many people didnt even
go to work. So, that was another
lie. You were employed but you
may not have had much to do.
Te country was basically bor-
rowing heavily from the banks
to support the living standards,
to keep the Hungarians in check,
so they wouldnt rise up the way
they had in 1956.
5. How were the living
conditions while you were
growing up in Budapest?
Te district I grew up in
was a traditionally blue-collar
district. People lived in very
small apartments, one room
with a kitchen and you had to
share the bathroom with other
people on the same foor. Te
conditions were pretty extreme.
6. So when it came time for
you to leave Hungary, did you
leave with your family or were
you on your own?
I was on my own. Te way I
saw it, I had two choices. I could
either conform or I could leave.
I chose to go.
7. You were living in a
totalitarian state. Was it
difcult for you to leave
the country at that time?
You could go to the west
(i.e. on holiday) once every
three years if they checked
you out. If you didnt go with
family members, it was easier
to get out. Since my family was
staying behind, (the authorities)
let me go. Tey had no idea
that I was planning to leave
for good. When I didnt return,
they came to my parents house
and asked them a bunch of
questions. A police ofcer came
to question them.
8. Did your family sufer any
repercussions when you failed
to come home?
No, not really. It was getting
late in the game and my parents
were getting older. Gorbachev
(reform-minded Soviet leader)
came in a couple of years
later and things really started
to change.
9. But you didnt leave for
Canada right away, did you?
No, I went to Switzerland
and sought refugee status.
I applied to be a refugee, a
process which took four and
a half years. In the early 1980s,
the Swiss government made it
quite easy for refugees to enter
the country but, a few years
later, the government changed.
Tey decided too many refugees
were coming into the country.
In the early 80s, 90 per cent of
refugees were accepted but by a
few years later it was the oppo-
site and my claim was rejected.
In the meantime, I had applied
and got accepted by a university
in Zurich, where Einstein once
taught. Tey would have given
me a bursary to help me live
but I couldnt accept because
of my status.
10. Was that about the
time you decided to come
to Canada?
I applied to several countries:
Argentina, New Zealand, the U.S.
and Canada. Canada was the
frst to accept me. I arrived in
Toronto in 1986. I was fortunate
enough to fnd work with Credit
Suisse Canada right away. I
started my studies at U of T in
1988 while I continued to work
there, until I fnished my studies
in 1992 and I left Credit Suisse at
the same time.
11. Where did you go
from there?
We were going through a
short, but deep, recession, if you
remember. I sent out something
like 500 copies of my resume to
diferent companies and didnt
receive a single response. Ten,
one day I called a fnancial ser-
vices frm in Newmarket, Ont.,
and they told me to come in.
Tey told me the truth, that
I would probably not make
money for the frst three years
but, that if I had the required
selling skills, I would eventually
make a good living.
12. Were they right about
that? Did it take you a long
time to break even?
After six months, I was
making the same money
I made at Credit Suisse.
See Vision Page 18
1.877.899.AFSC
(2372)
www.AFSC.ca
Were the Real Deal.
Here at AFSC, were real people working on real lending
solutions in your community. We know what affects your
business because we live and work here, too.
AFSC is Albertas Farm & Business Lender. Call
today and ask about the lending product thats
right for you.
Business Edge
T
he Government of
Alberta is working
with municipalities
and industry to provide access
to high-speed Internet in unser-
viced areas of rural Alberta.
All Albertans should have
access to high-speed Internet.
For our rural communities, its
essential to future economic
competitiveness and vitality,
said Premier Alison Redford.
SuperNet was a good start
delivering access to more than
420 communities. We are build-
ing on that and keeping our
commitment to ensure Alber-
tans regardless of where they
live are just one click away
from a world of opportunity.
Te Final Mile Rural
Connectivity Initiative will help
close existing service gaps and
ensure reliable, high-speed
Internet is available to at least
98 per cent of Albertans. About
six per cent or 72,000 households
in rural Alberta are currently
without access to high-speed
Internet service.
Albertans know the
foundational role Internet
plays for families and businesses
and the challenges for those
who dont currently have access,
said Manmeet Bhullar, Minister
of Service Alberta.
Although the answer is
not one size fts all, Premier
Allison Redford and our
government are delivering
the range of solutions necessary
to provide rural Albertans with
high-speed Internet.
Included in the initiative is
the $5-million Final Mile Rural
Community Program, inviting
local governments who plan to
provide high-speed Internet in
their communities to apply for
provincial funding to support
or expedite their plans.
Tis is about kids who want
to research homework, families
that want to stay connected and
farmers and ranchers who want
to market their products," said
Evan Berger, Minister of Agricul-
ture and Rural Development.
Municipalities are key to
the solutions. Tey know the
challenges, they have ideas.
Working together, we will see
more households with access
to a critical service.
High-speed Internet
infrastructure costs such
as towers, equipment and
technology, fbre optic
cable, wireless equipment,
installation costs and radio
license fees are eligible to
receive Final Mile Rural
Community Program funding.
Up to 75 per cent of eligible
project costs may be covered
by the Program and applicants
are required to submit a
program application form.
Government will work
with municipalities looking
for other options by:
Working with Internet
providers to supply connectivity
to rural households through
the most efective and efcient
technologies available
Developing an in-fll program
to provide connectivity to
Albertans in served areas who
are still without access due to
geographical challenges
Implementation to ensure
high-speed access for all
Albertans involves a range
of solutions and requires
comprehensive mapping
of the province by the
Government of Alberta,
working with the Alberta As-
sociation of Municipal Districts
and Counties (AAMDC), the
Alberta Urban Municipalities
Associations (AUMA), the fed-
eral government, municipalities
and Internet service providers.
Province works to close
Internet gaps in Alberta
DO YOU AND YOUR SALES TEAM
PITCH 286,000+ BUSINESSES
EACH MONTH, INCLUDING ABOUT
98% OF BUSINESS ADDRESSES IN
YOUR LOCAL MARKET?
NO, SERIOUSLY. I MEAN JOIN THE
BUSINESS EDGE ADVERTISING CLUB
AND YOU, TOO, CAN REACH
286,000+ BUSINESSES PER MONTH.
JOIN THE CLUB.
BUSINESS EDGE ADVERTISING
CLUB BENEFITS INCLUDE:
Speaking engagements with massive audiences
each issue you will speak to decision makers at
156,000+ companies. With every two issues, our
rotating distribution enables your advertising to
speak to 286,000+ businesses.
Affordable business travel You will present at up
to 29 cities without having to spend a nickel on air
travel, hotels or rental cars.
Choice If you only wish to speak to a local
audience, you may advertise specifically in
your region and pay only for that market.
Personal service You have the option of
summoning your own personal page, and you
will have an experienced Club representative
to guide you through the advertising process.
Hang with celebrities You will be positioned
beside Canadian business superstars who
frequent the pages of Business Edge News
Magazine.
Location, location, location We will go to
great lengths to ensure that you are speaking
from an ideal position in each and every issue.
Club entry: Fees vary with size and frequency
but value is always superior.
Contact us now for more
information on the Business
Edge Advertising Club:
403 . 968 . 7638
Ads@BusinessEdge.ca
Business Edge
M
oneris Solutions,
Canadas largest
debit and credit
card processor, recently
announced that Canadian
spending continued to rise
at the end of the year, with
an increase of 5.8 per cent
in the fourth quarter of 2011,
compared to the same period
in 2010. Tis represents a
slightly higher rate of growth
in relation to the third-quarter
increase of 4.9 per cent.
November showed the
strongest growth, with a
6.2 per cent increase in
spending, while December
also proved to be successful,
with an increase of 5.6 per
cent. Part of the growth in
December, especially during
Boxing week, was fuelled
by an increase in credit
card usage. In December,
credit card spending was
up 7.1 per cent, while debit
card spending grew by 4.4 per
cent. October saw the lowest-
yet still respectable growth,
with a 5.4 per cent increase
in dollars spent.
Overall in Q4, the leading
category in spending was
restaurants at 10.6 per cent,
followed by grocery stores
at 5.6 per cent and apparel
at 4.8 per cent. In particular,
fast food outlets and pet
shops experienced the highest
growth with increases of
16.5 per cent and 13.8 per
cent, respectively.
Canadians also embraced
the spirit of giving to those less
fortunate during the last quarter,
increasing their donations to
charitable organizations by 13.1
per cent, compared to 2010. In
addition, there was a 33.6 per
cent increase in donations in
the fnal week of December, as
the deadline for charitable tax
credits approached.
Categories that experienced
a decline in spending included
travel at -11.4 per cent, camera
stores at -6.6 per cent and de-
partment stores at -3.9 per cent.
Te average price of credit card
purchases also declined by
-0.8 per cent compared to the
same period in 2010, while
those purchased through debit
increased ever so slightly, by
0.2 per cent.
Te fourth quarter also saw
dollars spent online increase by
14.2 per cent compared to 2010.
Tis can be attributed in part to
the success of Cyber Monday in
2011, as November posted
the greatest increase in online
spending at 20.1 per cent.
Regionally, the Prairie
provinces led the way in
growth during Q4, with
an increase in spending of
10.8 per cent in Alberta and
10.1 per cent in Saskatchewan.
Ontario, Quebec and British
Columbia experienced
moderate growth at 4.8 per
cent, 4.6 per cent and 4.3 per
cent respectively, while Nova
Scotia showed the slowest
growth in the country, ending
the quarter with a 3.9 per
cent increase in spending.
In terms of holiday spending,
weekday purchases in December
(5.4 per cent) outgrew weekend
purchases (3.9 per cent), as
shoppers preferred to avoid
the weekend rush.
When it came to the
highest amount of both
dollars spent and the number
of transactions processed,
December 23rd was the busiest
shopping day of 2011. Te
number of transactions per
second reached 445, breaking
last years record of 418 per
second on Christmas Eve.
Shoes, consumer
electronics and sporting
goods topped the list of the
most frequently returned
items by Canadian shoppers.
Canadian consumer spending up 5.8 per cent in Q4
PLEASE NOTE: Colour lasers do not accurately represent the colours in the
finished product. This proof is strictly for layout purposes only.
APPROVALS
Art Director:
Copywriter:
Producer:
Accounts:
PLEASE DOUBLE CHECK FOR ACCURACY.
Software: InDesign
Version: CS4
5th Floor, 1085 Homer Street,
Vancouver BC, V6B 1J4
p: 778 331 8340
f: 778 331 8341
www.thisisdare.com DIELINE DIELINE DIELINE K Y M C DIELINE
DOCKET #: 111117602-2 CLIENT: BC Government DESCRIPTION: Forestry
FILE NAME: 111117602-2 BC Jobs-Forestry-BusEdge.indd
TRIM: 7.62" x 9.71" FOLD: BLEED: .0"
IMAGE INFO: 300 dpi NOTES:
Prod Mgr.: AS
Acct Exec.: DC
Art Director: AA
Copywriter: --
Operator: RM
1 2
CLIENT PROOF # INTERNAL REVIEW # CREATION DATE: 12/20/11 MODIFICATION DATE: February 2, 2012 1:48 PM OUTPUT DATE: 02/03/12
Pub: Business Edge BC
Due: February 2, 2012
AD #: 111117602-2/Forestry
BC has doubled lumber exports to China in one year. Commodity exports to India were up 74% in
the last year alone. Expanding relationships with the worlds fastest growing economies is just one
aspect of the BC Jobs Plan. Enabling job creation, supporting small business start-ups, and continuing
investments in infrastructure and skills training are just some of the ways the BC Jobs Plan is helping
to create jobs for BC families.
To learn more about how the BC Jobs Plan works for you and your family, or to share your ideas, visit
BC Jobs Plan.ca
111117602-2 BC Jobs-Forestry-BusEdge.indd 1 2/3/12 2:43 PM
Moving On
Dean Conor
Business Edge
Toronto Dean Connor is the
new president/CEO for Sun
Life Financial Inc. (TSX:SLF), a
leading global fnancial services
organization. Connor frst joined
Sun Life in 2006 as executive
vice-president and has held a
number of senior roles with the
company since that
time. He was most
recently president,
overseeing Sun Lifes
Canadian and United
Kingdom operations,
MFS, marketing, hu-
man resources, infor-
mation technology and
other shared business
services. He became a
member of the companys
board of directors on July 1,
2011. Prior to joining Sun Life,
Connor spent 28 years at Mercer
Human Resource Consulting.
Former analyst jumps
to silver miner exec
Vancouver - A veteran mar-
ket analyst has jumped from
RBC Dominion Securities to
an executive position with
Silver Wheaton (TSX:SLW)
(NYSE:SLW). Haytham Hodaly,
an engineer as well as an expert
mining analyst, takes over as se-
nior vice-president of corporate
development for the miner, the
worlds largest silver streaming
company. Hodaly will play a
key role in ensuring that Silver
Wheaton achieves its strategic
growth initiatives.
At RBC Capital Markets,
Hodaly was responsible for
providing up-to-date and
insightful research coverage of
North American-listed pre-
cious metals companies for
clients around the world. Prior
to his tenure at RBC Dominion
Securities, he held the position
of co-director of research and
senior mining analyst at Salman
Partners Inc.
Ex-NHL great Reinhart
joins Bearing Resources
Vancouver Former NHL star
Paul Reinhart is the new man-
ager of corporate relations for
Bearing Resources Ltd. (TSX
VENTURE:BRZ), a Canadian-
based precious and base metal
exploration company with proj-
ects located in British Columbia,
the Yukon and Mexico.
Once a star defence-
man for the Calgary
Flames
and the Vancouver
Canucks, Reinhart
retired from the game
in 1990 to focus on
his business interests.
Since then, he has
been primarily an entrepreneur/
investor and has also acted
as a capital markets advisor
primarily focused in the mineral
exploration and medical devices
industries. In addition to
investing in several
successful early-stage
development com-
panies, Reinhart
has been a founding
director and/or ofcer
at various companies,
including Angiotech
Pharmaceuticals,
Kokanee Explorations,
Chapleau Resources
(now Magellan Minerals) and Far
West Mining (recently acquired
by Capstone Mining).
Loporcaro promoted to top
dog at McKesson Canada
Toronto Nick Loporcaro has
been asked to head up Canadian
operations for McKesson Corp.,
which provides the Canadian
healthcare industry with a com-
plete range of solutions to im-
prove the quality, safety and cost
of patient care. In this new role,
Loporcaro will assume control
of McKesson Canadas clinical
and business solutions, supply
solutions, as well as technology
and information solutions for
retail pharmacies, hospitals,
drug manufacturers, health
care institutions, governments
and patients. Lopor-
caro joined McKesson
Canada in 2003 as
director of national
sales and marketing
and progressed to the
role of vice-president/
general manager of
McKesson Automated
Pharmacy Systems
(APS). He then became
VP/GM of McKesson Canadas
Eastern Canada Marketplace
in 2008.
Belseck formally appointed
as West Isle Energy CFO
Calgary Faron Belseck has
been formally announced as the
chief fnancial ofcer for West
Isle Energy Inc. (CNSX:WEI), an
E&P which focuses on acquiring
overlooked gas-/oil-rich lands
in Western Canada.
Belseck had been
serving as interim CFO
prior to the formal
appointment. He is a
Certifed Management
Accountant who has
served as controller
and CFO for a number
of oil and gas and
technology companies.
Veteran resource/mining
lawyer joins ITH Mines
Vancouver Natural resource
lawyer Robert Comer has been
named chief administrative
ofcer and general counsel for
International Tower Hill Mines
Ltd. (TSX:ITH) (NYSE Amex:
THM), owner of the Livengood
Gold Project situated 70 miles
north of Fairbanks, Alaska.
Comer has nearly 25 years
of experience practicing natural
resource and mineral law in the
U.S. and will be responsible for
all legal afairs and corporate
administration matters at ITH.
He will play an infuential role
in the companys permitting
activities at the Livengood
Gold Project.
Previously, Comer
served at the U.S.
department of the
interior from 2002 to
2010 in the executive
positions of associate
solicitor for minerals,
land and water, regional
solicitor and counsellor
to the solicitor. During
2007, he also served
as general counsel and principal
deputy to the ofce of the federal
coordinator for Alaska Natural
Gas Transportation Projects
where he helped to establish a
new federal ofce involved with
permitting an international
natural gas pipeline from Alaska
to the Alberta hub. Additional
responsibilities included devel-
opment and implementation
of original ofce programmatic
policy, procedures, hiring
and procurement.
From 1994 to 2000, Comer
served as mining attorney
and associate general counsel
with Asarco Incorporated,
a Fortune 500 mining, mineral
processing and specialty
chemical company.
Mining engineer named
Tyhees interim CEO
Vancouver Brian Briggs,
the companys VP engineering,
has been asked to serve as
interim CEO for Tyhee Gold
Corp. (TSX VENTURE:TDC)
following the departure of
David Webb, who has been
replaced as the companys
CEO and president. Briggs
earned both his bachelors
and masters degrees in engi-
neering from the University of
Wyoming. His diverse and dis-
tinguished career encompasses
more than 23 years of experience
in all phases of mine operations
and mine development in North
America, Africa and Asia.
Nick Loporcaro
Paul Reinhart
Long-time Sun Life executive moves to corner ofce
Track Record
Performance
Results
Transparency
OmniArch
Fixed Income
If you are a registered Exempt Market Representative
and wish to inquire as how to oer this product to your
clients OR if you are an investor and wish to speak to an
registered investment broker / advisor in regards to this
product please call us on 403-984-6223 or email us at
info@omniarchcapital.com and we would be happy to
assist you.
www.omniarchcapital.com
Call us at 1-877-511-9949 for more info
Bond
Rejuvenate RegeneRate Radiate
Shiva Medi-Spa & Esthetics
116, 330 5th Ave SW Calgary, AB
403.508.1820 shivamedispa.com
gift cErtificatES availablE
Shiva offers a complete range of esthetics
and the best in anti-aging technology.
its the little things
that make us happy.
Business Edge
E
fective January 1, 2012,
the Canmore Town
Council formally contracted
the delivery of economic
development services to
Tourism Canmore Kananaskis.
Te organization is now re-
launching locally as Canmore
Business & Tourism, an
efcient, cohesive organization
responsible for maximizing
marketing opportunities and
providing a platform for
business growth to ensure
a strong Canmore brand.
Our vision is for Canmore
Business & Tourism to be a
leader in sustainable business
and tourism development,
which will be achieved
by promoting Canmore
Kananaskis as a place to
live, work and play, said
Andrew Nickerson, president
and CEO, Canmore Business
& Tourism.
Organizations unite to form
strong brand in Canmore
Theyve discovered the key
to aging gracefully. Money.
Redev Properties enables Canadian
investors to enter the lucrative
commercial real estate market with as
little as $10,000.
*RRSP and TFSA also available - minimum $5,000
Introducing
Redev Properties Ltd.s
latest Real Estate Income Gain
(REIG) Program.
Kensington Crossing
12504 - 137 Avenue
Edmonton, Alberta

Kensington Crossing is a 65,281
square foot multi-tenant strip
Plaza on approximately 5.92
acres of land
Excellent visibility and high
exposure with its location at
the corner of two arterial
roadways in north Edmonton
Located in a high demand area
of Edmonton with very low
vacancy rate
Well maintained
Proven Track Record In addition to the more
than $347 million in completed REIG projects, the
principals of REDEV Properties have developed over
$1.2 billion of real estate assets representing over
11,000 residential units and numerous retail properties
over the past 30 years
Tax deduction in frst year
After tax quarterly cash distributions
Invest in exceptional mall properties, featuring prime
anchor stores, in high growth areas
Cash handled by third party-trustee means more
security
Fully leased retail space with strong lease growth
potential
Call 1.866.668.7344 today
or visit www.redevgroup.com
bui l di ng asset s t hr ough r eal est at e
bui l di ng asset s t hr ough r eal est at e
THIS ADVERTISEMENT IS QUALIFIED BY THE INFORMATION CONTAINED IN
THE APPLICABLE OFFERING MEMORANDUM. THERE ARE RISKS ASSOCIATED
WITH THESE INVESTMENTS. ACTUAL RESULTS MAY VARY SIGNIFICANTLY
FROM PROJECTED RESULTS. IT IS POSSIBLE THAT KENSINGTON CROSSING
WILL NOT BE AS PROFITABLE AS OTHER REDEV PROPERTIES PROJECTS. READ
THE APPLICABLE OFFERING MEMORANDUM AND CONSULT YOUR OWN TAX
AND INVESTMENT ADVISORS.
From Page 10
Vision: Our ambition was to become a hedge fund frm
I always seem to do my best
when Im under pressure. You
had to know your stuf but, at
the same time, you had to sell.
13. OK, lets talk a bit about
Quadrexx Asset Management.
When did you and Tony start
the company and what was
the original vision?
We started in 2003. Our
ambition was to become a
hedge fund frm, which we
succeeded in doing, although
we have diversifed a great
deal since those days. We have
since added a private equity
component, as well as products
relating to insurance, wealth
management and discretionary
portfolio management.
14. It seems as though weve
heard an awful lot about
hedge funds recently,
particularly since the markets
headed south back in 2008.
For those who are still unclear
on the concept, what exactly
is a hedge fund?
Hedge funds are basically
instruments wherein manage-
ment is trying to exact returns
which are a lot less correlated
to the markets than traditional
mutual funds tend to be. Many
years ago, there was only one
kind of hedge fund, but today
they are much more diverse
than they used to be.
15. How so?
For example, hedge funds
can be in and out of the market,
they have the ability to short
the market or individual stocks.
Its possible for a hedge fund
to make money in any kind of
market environment, as opposed
to mutual funds. If you have a
Canadian equity fund and the
Canadian market is not doing
well, its almost certain that your
Canadian equity fund will not do
well either.
16. When you set up your
original hedge fund with
Quadrexx, was it your
primary objective to
specialize in short positions?
We wanted to set up a diverse
fund that would invest in a
number of other hedge funds.
17. What did you see as the
advantage to that approach?
Well, the minimum invest-
ment required by hedge funds
is quite large. Many of them will
require a minimum investment
of $200,000 to $500,000 and to
properly diversify, you should
buy into 12 to 15 diferent hedge
funds. So, youd have to fork out
about $3 million, just to invest.
By setting up a hedge fund such
as ours, you enable people to
participate for a much more
modest minimum investment.
18. Have Canadian investors
generally responded in a
positive way to hedge funds?
Not really. From 2005 through
to about 2008, hedge funds
became a bad word in Canada.
Tis was largely due to negative
publicity surrounding Norshield
Asset Management Inc., which
ran afoul of Canadian regulators
(the OSC eventually concluded
that key senior managers at
Norshield had misled investors).
Even today, hedge funds are
not as successful or well-
received in this country as
they are in other countries
around the world. I believe
that bad press and a lack of
understanding on behalf of
many fnancial advisors are
among the reasons for this.
Yes, some hedge funds have
blown up, but I could cite a few
mutual funds that have blown
up, including one that lost 80 per
cent of its money within a year.
19. I recall talking to the
CEO of a major Canadian
energy company who
blamed hedge funds for
driving down his companys
share price. Is there any
truth to this perception?
See Results Page 26
Rentals
Services
Sales
Leasing
Plotters
Scanners
Printers
Copiers
O
ne of Canadas superior
exempt market dealers
(EMDs) almost doubled in size
recently, adding numerous
effciencies in the process.
Pinnacle Wealth Brokers of
Edmonton, already an industry
leader, became the countrys
largest EMD by merging with
one of its closest competitors,
Calgary-based Global Exempt
Market Solutions (GEMS), in a
move that is expected to have
an immediate and wholeheartedly
positive impact on the companys
annual sales. Terms of the
transaction were not disclosed.
This is a terrifc move for
our company, exults Darvin
Zurfuh, Pinnacles founder
and chief executive.
From a management
perspective, were adding depth
to our team.
That new depth includes former
GEMS CEO Rick Unrau, who
now takes over as Pinnacles
new president.
Rick is an important addition,
an experienced executive who
brings many strengths to the table.
He has a very strong operations
and accounting background, so will
be in charge of running our admin-
istrative group while monitoring our
fnancial statements, adds Zurfuh.
Other key members of the
GEMS management team will
make the move to Pinnacle, while
the companys sales force has
almost doubled, with 80 agents
now in place across Western
Canada. The agents present
private securities offerings or
exempt securities that are
often not correlated to the public
equities markets.
Their investment choices range
from offering memorandums that
offer discretionary management
services to fnancing for healthy
businesses that have security to
act as collateral. OmniArch Capital
Group purchases AA bonds and
provides investors with monthly
cash fow and Howard Land Group
is building condos on the marina in
Comox where investors get eight
to 10 per cent cash fow plus 75
per cent of the profts. Both partner
companies are based in Calgary.
This merger works to our beneft
in a variety of ways, continues
Zurfuh. Were now able to combine
the best practices of each frm. This
will give our national sales team
greater confdence in the products
that they are selling, while improv-
ing operational effciencies on any
number of levels.
Since joining forces with its
strong former rival, Pinnacle Wealth
Brokers has been able to expand
and diversify its product shelf, rep-
resenting a broader range of asset
classes, while offering more variety
within each class.
As the company moves
forward, it continues to look
for acquisition opportunities.
For additional details, visit
www.pinnaclewealthbrokers.com,
call the home offce at 780.628.4286
or email admin@pinnaclewealth.ca.
Alberta wealth brokerage frm a pinnacle in EMD industry
Annual Return
Paid MONTHLY
OmniArch
Fixed Income Fund
10% Annual return paid monthly
RRSP, RESP, LIRA and TFSA Eligible
$5,000 CDN Minimum Investment
Face Value of collateral security
totals a minimum of two times
the amount invested.
5 Year Term
For More Information Contact:
Pinnacle Wealth Brokers Inc.
t. 780.628.4286
Or visit www.pinnaclewealthbrokers.com
Business Edge
E
quifax Canadas National
Credit Trends Report fnds
there was remarkable improve-
ment in consumer delinquencies
and bankruptcies in 2011, after
seeing record-high numbers in
the previous two years during
the fnancial crisis.
Te 90-plus day delinquen-
cies for all credit products
(excluding mortgages) has come
down to a moderate 1.4 per
cent this rate was as high as
1.8 per cent during the height
of the recession. Tat 0.4 per
cent improvement equates
to $1.9 billion. Consumer
bankruptcies also dropped
signifcantly to what appears
to be normal volumes based
on pre-recession days.
Despite a nine per cent re-
duction in consumer appetite for
new credit in Q4 2011, consumer
debt load continues to increase,
but at a much lesser rate than
observed in previous years, said
Nadim Abdo, vice-president,
consulting and analytical ser-
vices, Equifax Canada.
For example, average
outstanding balances for all
credit products increased at
a rate of eight per cent in 2010,
while the rate of increase in
Q4 2011 had dropped to nearly
half of that, Abdo said.
Te only product that has
shown a reduction in balances
over the course of 2011 are credit
cards, Abdo adds, and that, in
large part, is due to changes in
legislation and some restrictions
placed on credit card issuers.
Te report shows that
average credit card debt
declined in 2011, by 3.4 per cent
compared to Q4 2010.
Other report fndings include:
Average bank installment debt
grew at a slightly lesser rate than
last year, showing a growth of
3.4 per cent versus Q4 2010.
Average bank revolving loans
grew at a much lesser rate than
in Q4 2010, 1.4 per cent versus
6.4 per cent in Q4 2011.
Average sales fnance debt
refected double-digit growth
throughout 2011, by 18.4 per
cent versus 16 per cent in
Q4 2010.
Vast improvement in consumer debt: Equifax Canada
Financial Edge Stock Stories
Business Edge
T
he CBC has been ranked
among a newly released
study of the Top 10 most
infuential brands in Canada
and it is the sole broadcaster
on the list.
Research frm Ipsos
Reid conducted the frst-
ever Ipsos Infuence Index
Study in November, surveying
Canadians on their attitudes
toward diferent corporate
brands based on a variety
of factors, including
whether people view them
as leading edge, trustworthy,
engaging, relevant and good
corporate citizens.
CBC ranked sixth overall,
on a list including such iconic
brands as Microsoft (#1), Google,
Presidents Choice, Apple, Face-
book, YouTube, Air Miles, Visa
and Wal-Mart.
Tis is wonderful news
and it clearly shows the high
regard in which Canadians hold
the CBC, said Kirstine Stewart,
executive vice-president of
English services.
Te results are just further
evidence of how deeply the
CBC resonates with Canadians
and it is gratifying that they
come at a time when we are
having tremendous success
in connecting with audiences
all across the country.
CBC among top 10 most
infuential brands: study
RIM shares plummet in 2011, top executives step down
Business Edge
Act I: Changing of the Guard
Te player: Research in
Motion (TSX:RIM)
Action: Up 9.3 per cent or
$1.46 YTD ( from $15.71 Jan. 3)
Recent price: $17.17
52-Week high/low:
$69.30/$12.80
Once Canadas technology
darling, the now troubled RIM is
saying goodbye to
its top executives.
Mike Lazaridis
and Jim Balsillie,
co-chiefs of Re-
search in Motion,
are stepping down
from the Black-
berry maker. Teir
replacement will be
Torsten Heins, the
former COO of the
company, who will
take on the role of
president and CEO.
RIM, based in Waterloo,
Ont., was once heralded as
Canadas most valuable com-
pany and had everyone wishing
they held a Blackberry in their
pocket, however, after losing
huge smartphone marketshare
to Apple and Google, RIM has
fallen from the pedestal.
RIM shares, which climbed
from less than $10 in 2003 to
nearly $140 in 2008, have fallen
steadily since and plummeted
sharply in 2011 to under $20.
Act II: Swan Hill Partnership
Te player: Midway Energy
Ltd. (TSX:MEL)
Action: Down eight per cent
or $0.29 YTD ( from $3.37 Jan. 3)
Recent price: $3.66
52-Week high/low:
$5.32/$2.69
A Calgary energy company
has a secret but it states its
good news.
Midway Energy Ltd., an
oil and gas exploration and
development company with
assets in Alberta, has announced
a new joint venture and partial
sale arrangement regarding
the Swan Hills Beaverhill Lake
light oil play. But with whom
was the deal made? A senior
conventional oil and gas
producer, states the company.
One with signifcant exposure
in the area.
In the agreement, Midway
receives $20 million in return
for a 50 per cent
interest in the
23,000 net acres
of land and
associated wells
and production
in the Swan Hills
area. Midway
will also retain
an interest in
the frst three
wells drilled
on the land.
Midway
estimates the
senior producers contribution
at about $36 million.
Act III: Living Up To Te Name
Te player: Resolute Forest
Products (TSX:ABH)
Action: Up two per cent or
$0.33 YTD ( from $15.00 Jan. 3)
52-Week high/low:
$30.10/$14.26
Do you like this ofer?
Wait a little longer. How
about now? Tats what
one forestry company said
to another recently.
Resolute Forest Products
( formerly AbitibiBowater),
had made a $130-million ofer
to buy Fibrek Inc. (TSX:FBK).
Fibreks executives have
rejected the deal, calling it
too low, and said that Fibrek
is in serious discussions
with a number of interested
parties concerning potential
value-maximizing transactions.
Living up to its name,
Resolute didnt take no for
an answer. Tough the expiry
date on the ofer was Friday,
Jan. 20, Resolute announced
Fibrek can take a little more
time to mull it over until
Feb. 13, in fact. And Resolute
says it has the support of three
major Fibrek shareholders.
Act IV: En-bridging the Gap
Te player: Enbridge Inc.
(TSX:ENB)
Action: Flat YTD
( from $37.75 Jan. 3)
52-Week high/low:
$38.46/$28.15
Tanks to a Calgary energy
company, a First Nation
community in Ontario just
got a little bit richer.
Te Mohawk Council of
Akwesasne in eastern Ontario
received $1 million from Niagara
Gas Transmission Ltd. (NGTL),
a subsidiary of Enbridge Inc.,
for the use of its land for an
NGTL pipeline. NGTL will also
pay the council around $100,000
each year for the next 20 years.
Te total payment (including
the $1 million up front) will be
around $3 million.
NGTL has also agreed to
work with the Council on
studying the value of operating
a natural gas distribution
business in the community.
Last month, Enbridge
struck a deal with the Gitxsan
nation in B.C, but confict
within the community
caused Gitxsan chiefs to
ofcially reject it.
Te above is not intended
as investment advice to buy
or sell any mentioned securities.
Investors should do due
diligence before investing.
Quotes are based on results
through February 2, 2012.
(Nicole can be reached at
Nicole.BusinessEdge@gmail.com)
Out of the Norm
Public sector wages sapping Albertas revenue
Business Edge
T
he School of Public
Policy at the University
of Calgary recently
released a report that compared
public sector wages in Alberta
to other provinces and found
a large disparity.
Overall, the
public sector wage
bill in Alberta has
increased 119 per
cent in the decade
following the
turn of the century,
compared to 63
per cent in the
rest of Canada,
the authors Ken
Boessenkool and
Ben Eisen wrote.
According to a
University media
release, the analysis compares
salary or wage data released
by Statistics Canada for four
employee categories: provincial
general government, health
and social institutions, univer-
sities and colleges and local
school boards.
Te report authors found
that in each of the categories
studied, Albertas spending
was among the highest in
Canada. Spending on wages
and salaries per-employee
in the provincial general
government category was
35 per cent higher than the
rest of Canada. Health and
social services wages were
60 per cent higher, local
school board wages were
10 per cent higher and higher
education wages were
30 per cent higher.
Te authors indicate that
95 per cent of the increase
in provincial revenues over
the last decade has gone
directly into the pockets of
public sector employees.
If the Alberta government
is looking for ways of reducing
spending to eliminate its
defcit (or if they are looking
to understand why Alberta
is spending signifcantly
more per person on government
services than other provinces),
they could do much worse
than setting an objective of
bringing their wages in line
with those in
other Canadian
provinces, the
authors argue.
Alberta Premier
announces Red
Tape Reduction
Task Force

Albertas
premier Alison
Redford recently
appointed a
Red Tape
Reduction Task
Force to assess the quality
of business regulation in
Alberta (compared with other
jurisdictions) with a specifc
focus on small business.
According to a government
of Alberta website, the task
force will work with small
business leaders and associa-
tions from across Alberta
to receive input about
improving the regulatory
environment in which small
business operates. Te task
force will provide a fnal
report based on that input
before the end of March 2012.
Task force members include
Ty Lund, chair, Robin Campbell
MLA - West Yellowhead, Dr.
Neil Brown, Q.C., MLA - Calgary-
Nose Hill, Kyle Fawcett MLA
- Calgary-North Hill and Art
Johnston MLA - Calgary-Hays.
Te Premier has charged
the task force to undertake
a consultative process to
better identify key regulatory
challenges and review how
those requirements are
administered in order to make
recommendations that can
address the regulatory burden
on small businesses. Te focus
should be on irritants that
have a clear detrimental efect
on growth, competitiveness
and innovation.
Further, the task force is
to make recommendations
for Albertas regulatory pro-
cesses to improve quality and
address issues of red tape
burden from provincial require-
ments on an ongoing basis while
ensuring the protection of the
environment and the health
and safety of Albertans.
Government sources point
out that Te Fraser Institute has
ranked Alberta as the #1 prov-
ince in which to invest. It also
ranked Alberta as having the
second-lowest burden of regula-
tion as a percentage of GDP and
frst in having the most efcient
labour market regulation.
Trade groups work with
Canadian government in fght
for Trans-Pacifc Partnership
Across Canada, trade
associations of all types
from the Canadian Manufac-
turers and Exporters to
Te American Chamber of
Commerce in Canada are
banding together to ensure
that Canada is included in
the Trans-Pacifc Partnership
(TPP) negotiations.
According to the U.S.
Government website on
November 12, 2011, the
Leaders of the nine Trans-
Pacifc Partnership countries
Australia, Brunei Darussalam,
Chile, Malaysia, New Zealand,
Peru, Singapore, Vietnam
and the United States
See Trade Page 28
A
s an energy company
grows, the complexities
of its reporting
procedures become a
greater challenge.
The answer: IBM Cognos
Express, a fully automated
software product provided in
Western Canada by Raven
Bay Services, a Calgary-
based IBM business partner
and one of the regions top
specialists in business analyt-
ics technologies. Raven Bay
provides strategic consulting,
development and implementa-
tion services across the full
spectrum of IT, with particular
strengths in performance
management and business
intelligence, business conti-
nuity and data management,
hardware implementations and
collaboration and messaging.
Meanwhile, IBM Cognos
Express is one of the
companys most versatile
and cost-effective solutions,
specifcally designed to serve
small-to-mid-sized oil and gas
outfts. Among this softwares
biggest fans is a mid-sized oil
and gas company, a publicly
traded player also based
in Calgary.
This frm is expected to
grow signifcantly in terms
of staff, organizational com-
plexity and fnancial strength
during the next few years.
From the perspective of the
companys business systems
team, this growth forecast
presented both a challenge
and an opportunity.
We recognized that as
we grow, our need for rapid
access to accurate information
about fnances and operations
would become more acute
and we wanted to get ahead of
the game and fnd a report-
ing solution before we started
running into real problems,
explains the frms manager
of business systems. A new
platform would also give us
the opportunity to eliminate
some of the time and effort
that we were already spending
on reporting.
Like many mid-sized
com panies in the oil and
gas sector, this frms
existing reporting processes
involved a combination of
direct data extracts from core
systems, Microsoft Access
databases and Microsoft
Excel spreadsheets.
There were a lot of manual
steps to get the data into an
easily comprehensible form
and there were always
concerns about data quality,
says the business systems
manager. We spent time
crunching numbers, double-
checking results and reworking
everything when we found an
error. To take one important
example, we have a monthly
fnancial report that we call
a fash report, which used
to take many hours to pull
together, he continues. This
report is a crucial tool for our
senior managers and therefore
we wanted to make it faster
and easier to generate.
This oilpatch frm sought
a solution that would provide
a more automated approach
to reporting and began
reviewing the various
offerings available from
the main software vendors.
For a company of our size,
most of the full-scale business
intelligence solutions on the
market just dont make fnan-
cial sense, says the business
systems manager. IBM is one
of the few major players with a
solution designed for mid-sized
businesses and we liked the
fact that IBM Cognos Express
gives us practically all the
functionality at a price-point
that ft our budget.
Equally important to this
project was the service ele-
ment. We decided to work
with Raven Bay and weve
found them an excellent part-
ner for this project because
they were prepared to listen
to our needs and adapt their
methodologies to align with
the way we do business.
Their agile, iterative approach
to analytics development
helped us to continually show
progress, thereby maintaining
a high level of internal
engagement and support.
The manager adds, The
combination of the compara-
tively low licensing costs of
IBM Cognos Express and
Raven Bays cost-effcient
development methodology is
helping us bring this project in
at a far lower cost than many
of the full-scale BI solutions
we looked at.
Bottom line: This oil and
gas company is bullish on
Raven Bay, which is ready
and waiting to help your
small-to-mid-sized oil and gas
company store, protect and
manage its data.
For more information,
contact Raven Bay at the
co-ordinates below.
Raven Bay: IT for energy frms on the move
Advertising Feature
Raven Bay Services Ph: 403.695.1317 info@ravenbay.com www.RavenBay.com
Canada Newswire
C
osts for a family vacation,
wedding anniversary
dinner and pet food are
items you would expect to
see on personal credit card
statements. Unfortunately,
they have also appeared
on employee expense
reports, according to a
new survey. Chief fnancial
ofcers (CFOs) interviewed
were asked to name the most
unusual things they have
seen employees include in
expense reports and the
results are bound to raise
the eyebrows of any fnancial
executive. Here are a few of
the most questionable items:
Cosmetic surgery
Lottery tickets
Pet food
$12,000 for a family trip
A trailer rental for a
family reunion
A speeding ticket
A teepee
A fne for crashing into
a toll booth
Te survey, developed
by Robert Half Management
Resources, was conducted
by an independent research
frm and includes responses
from 1,600 U.S. and Canadian
CFOs from a stratifed random
sample of companies with 20
or more employees.
Although these examples
seem unusual and humorous,
this issue can be quite
serious and afect the
organizations bottom line,
said David King, Canadian
president of Robert Half
Management Resources.
CFOs reveal most unusual employee expense reports: survey
Creation Date:
12/10/09
Ad No (File name):
CH003993 EdmPlazBizEdge
Title:
Where will you land
Revision Date:
February 9, 2011 12:31 PM
Client:
Coast Hotels & Resorts
Live Area:
.0
Publication/Printer:
Business Edge magazine
Atypical Docket #:
3994
Trim:
3.68 x 6.5
Direct: 604.714.2485
production@elevatorstrategy.com
Available via WEB-FTP from:
rob@businessedge.ca
Colour:
CMYK
Column & lines:
-
Coast Edmonton Plaza Hotel
10155 105th Street, Edmonton, Alberta T5J 1E2
Tel: 780.423.4811 Fax: 780.423.3204
Aeroplan is a registered trademark of Aeroplan Canada Inc.

coasthotel s.com / 1-800-663-1144
where will
you land?
were now
an Aeroplan
Partner
book now, and
earn more miles
r e a l p e o p l e .
P: 403.24-PRINT
77468
www.beltline.minutemanpress.com
1136 - 10th Avenue SW
Business Edge
T
he Canadian Youth
Business Foundation
(CYBF) and Trico
Charitable Foundation (TCF)
are teaming up to encourage
young entrepreneurs to
positively impact their
communities. Tis partnership
invites socially conscious
Albertans to apply for fnancing
up to $15,000 when starting a
venture incorporating socially
minded values into business
activities and outcomes.
Te idea is to give young
and aspiring entrepreneurs the
sense that doing something, no
matter how small, that brings
beneft to their community,
is within their grasp whether
they run a business of one or
100 people, said Michele Fugiel
Gartner, program manager of
Trico Charitable Foundation.
What is socially minded
entrepreneurship? According
to Christi Millar, director of
Alberta, CYBF, there is actually
a spectrum.
A socially minded business
could be a for-proft business
that serves a social need, a for-
proft business that encourages
or even requires community
volunteerism from its staf, or a
business that has an ingrained
value (and publicly expressed
purpose) to giving back to the
community fnancially, either
altruistically or tied to business
outcomes (ie. sales).
Te organization has funded
a number of businesses that
fall into various areas of that
spectrum. DeliverGood is a
for-proft business that matches
charities and not-for-profts that
need stuf with people and
companies who have stuf.
Eligeo is an IT consulting
frm that dedicates human
and fnancial resources for
philanthropic eforts,
particularly volunteerism.
Blanc Cosmetics donates
a portion of each sale to the
charity Operation Smile.
Socially minded entrepre-
neurship is delivering real and
measurable results, not just for
the community, but the bottom
line for many organizations,
states CYBF, whether they are
corporate, charitable or some-
where in between.
It is that in between that
was most intriguing to CYBF
when committing to recruit
vet and fnance for-proft
entrepreneurs on Trico
Foundations behalf through
the partnership. Tey see it as
an opportunity to help socially
conscious entrepreneurs
beneft local communities in
ways that otherwise might not
be feasible when frst starting
out. Applicants need only
demonstrate how an Alberta
community might beneft from
their start-up when submitting
a business plan and applying
for funding through CYBF.
CYBF doesnt just look
at a potential entrepreneurs
individual bottom line and
instead provides our fnancing
based on a full picture, including
character, not just collateral,
said Millar.
Funding earmarked for
young entrepreneurs who
are socially minded
Corporate philanthropy
not just for big business
Business Edge
H
istory has shown that
good times foster a
complacency that
eventually takes a toll on
business performance, while
tough times foster the sacrifces
and adjustments needed to
improve. While Canadas
economy has
weathered the re-
cession far better
than that of the
beleaguered U.S.,
the longstand-
ing American
productivity
advantage has
accelerated.
Economists esti-
mate that during
2010, American
labour productiv-
ity grew more
than three times
faster than
in Canada.
Te business-
friendly policies
of the Carolinas,
together with a
high productivity
and largely non-
union workforce,
have long attract-
ed auto, aircraft
and hi-tech
manufacturers.
Since the
recession, their
high productivity
ethos has spread
across the coun-
try. Labour costs
have dropped
dramatically
through a combi-
nation of invest-
ment in new
technology and
reduced wages
and benefts
accepted by
workers who dont want
to see their employer go out
of business.
Tis get better or give up
mentality has driven a dramatic
surge in productivity from our
biggest trading partner and our
biggest competitor. Meanwhile,
Canadian sala-
ries and benefts
have remained
steady or even
grown. Tese
competitive chal-
lenges have been
magnifed by the
high-fying loonie
that has risen
more than 50
per cent in value
from US$0.64 to
near par over the
past decade.
Canadian
manufacturing
jobs have been
moving south
for some time,
but the New
Years Day lock-
out of workers
at the Electro-
Motive Diesel
plant in London,
Ont., resonated
like a rife shot.
Te subsidiary
of global giant
Caterpillar Inc.
has tabled an
ofer with the
Canadian
Auto Workers
Union that
would cut
wages and
benefts by
some 50 per
cent in order
to bring the
plant in line
with costs at its
Lagrange, Ill., facility.
Management has made
it clear that since it cannot
maintain a Canadian operation
costing twice as much, the
alternative is to close the plant
and move the jobs south. Union
leaders reacted by calling for
government intervention to
end the lockout and Canadian
Labour Congress president
Ken Georgetti demanded new
laws preventing foreign acquisi-
tions such as Caterpillars 2010
take-over of Electro-Motive.
But, the reality is, whether the
company is Canadian or foreign-
owned, it couldnt have stayed
in business facing a 50 per cent
cost disadvantage.
We can only hope the Electro-
Motive situation will prove to
be an outlier in the sacrifces
needed to compete with lower-
cost American factories, but its
clear that, in such head-to-head
competitions, workers will con-
tinue to face a choice between
accepting lower compensation
or unemployment. As painful
as these choices will be, Canadi-
ans must accept the reality that
this accelerating cross-border
productivity gap is little diferent
than the lower-cost competition
that has drawn production line
jobs to China and India.
So, how should Canadian
businesses respond? First, focus
on producing goods where there
are advantages to in-country
production. In most cases, this
means made-to-order, custom
manufacturing working directly
with local customers, rather
than easily moved, lower,
value-added, large-scale
production-line operations.
Second, rather than listening
to those voices lamenting that
so much of Canadas economic
buoyancy and growth is driven
by our rich resource endow-
ment, we should embrace and
make the most of the numerous
and diverse country-wide manu-
facturing opportunities they
present. A prime example is the
hundreds of billions of dollars
being invested in B.C. shale gas,
Alberta oil sands and ofshore
Newfoundland oilfelds. Design
engineers and contractors work
together with custom fabricators
across the country, resulting in
a major portion of the equip-
ment manufactured right here
in Canada. Similarly, our metals
mining and processing indus-
tries create a large number of
custom manufacturing jobs,
as does potash production
and other components of our
massive agricultural complex.
Finally, now is the time for
manufacturers to take advantage
of our strong dollar to acquire
the special ized equipment
needed to maximize productiv-
ity. Tis has already been a sig-
nifcant factor in helping many
Canadian businesses adapt to
foreign competition.
Te biggest threat to Canadas
privileged living standards lies in
the compla cency of the comfort-
able. Both the private and public
sectors must take urgent action
to deliver more with less. Te
fact that our American neigh-
bours are facing a more difcult
time has led to strong efciency
gains. Unless we capitalize on
our strengths with a similar
sense of urgency, the tables
will soon turn.
Column courtesy of Troy
Media (www.troymedia.com)
Canada not competitive with U.S. productivity
Tis get better or
give up mentality has
driven a dramatic surge
in productivity from
our biggest trading
partner and our biggest
competitor. Meanwhile,
Canadian salaries and
benefts have remained
steady or even grown.
Tese competitive chal-
lenges have been mag-
nifed by the high-fying
loonie that has risen
more than 50 per cent
in value from US$0.64
to near par over the
past decade.
- Gwyn Morgan
columnist, Troy Media
Now is the time to adapt by taking
advantage of the strong dollar
Results: On average, hedge funds have outperformed the markets
The Quadrexx executive team (from left): Mark Wainberg,
Jeffrey Parent, Miklos Nagy and Tony Sanfelice.
It could happen, but if
you look at the calendar year
performance of the average
hedge fund, youll fnd that
from 1989 to today has been
positive, with the exception
of three or four years. Tose
results are in comparison with
the performance of the S&P
500 and the S&P/TSX, which
had a lot more negative years
during that period. On average,
hedge funds have outperformed
the markets by four per cent
a year during the last 20 years.
Troughout the same period,
mutual funds have tended to
underperform the markets.
Look at the stats. I dont think
that many people who say hedge
funds are bad know what theyre
talking about.
20. Of course, hedging is
only one relatively small
component of your business
at Quadrexx. Are your
companys various product
oferings available to the
average retail investor?
We have three main
divisions: the fund division,
the wealth management divi -
sion and the exempt market
dealer division. As an exempt
market dealer, we manufacture
and sell our own private equity
and income products and also
sell other products through
our agent. Also, we have a port-
folio manager to manage stocks
and bonds portfolios tailored
to our clients objectives. We
generally work with investors
of mid- to high-net-worth.
From Page 18
Business Edge
C
NN Internationals
website www.cnngo.com
recently placed Calgary
at No. 5 for best places to visit
in 2012. Te website states that
with the costs of transportation
and accommodation, travel
choices are far from unlimited,
so they created a list of the top
seven places to visit in the com-
ing year to get the most out of
your travel budget.
Tis is great news, said
Randy Williams, Tourism
Calgary president and CEO.
Stories and lists like this,
especially from credible,
global media sources, provide
urgency to visit Calgary now,
not at some undetermined
time in the future.
Calgary was singled out
in large part because of
the Calgary Stampedes
centennial celebrations,
stating that Calgary will
hit its boot-kickin, bronco-
bustin, team-ropin, chuck-
wagon-fare-samplin, Duke-
&-Duchess-of-Cambridge-
attendin stride at the annual
Calgary Stampede.
Te Best Places to Visit
list is the third time in three
months that CNN has profled
Calgary from a tourism
perspective. In October,
Calgary made another CNN
list at No. 5 on the 15 Places
to Party list. On Tuesday,
December 6, 2011, CNNs
Jeanne Moos produced a
story about the Tourism
Calgary and Calgary Philhar-
monic Singing Tweets video
on Te Situation Room with
Wolf Blitzer. Tourism Calgary
estimates the combined
media coverage of the Singing
Tweets video, including CNN,
to be more than $1.2 million
in media value this year.
CNN International ranks
Calgary as worlds ffth
best place to visit in 2012
Business Edge
D
oug Singleton, president of
the Realtors Association of
Edmonton, announced the real
estate industry housing forecast
for 2012 at an industry seminar
in mid-January. He expects that
the current stable market will
continue through 2012 with
prices and unit sales increasing
slightly year-over-year and real
estate transactions to follow
typical month-to-month trends.
I do not see any external
forces that will infuence the
normal operation of the real
estate market locally in the year
ahead, said Singleton. Mort-
gage interest rates are expected
to remain stable through 2012
and there will be balanced
demand on both the buyer and
seller sides of the market.
Te Realtors Association is
forecasting that all residential
prices for housing in the
Edmonton area will increase
about two per cent over the
year ahead. Single family
detached home prices will
increase on average by two
per cent over the year and
condominiums, which are
oversupplied in the market,
will have their prices increase
just one per cent. A single
family detached home that
sold for $372,000 in December
2011 will be priced at $380,500
at the same time this year.
Condos are currently selling
on average for $230,000 and
will increase to $237,000 by
next December.
Singleton expects that resi-
dential unit sales will increase
slightly in 2012 as compared to
similar unit sales in 2011.
Tis is a balanced market
with great opportunities for
both buyers and seller, he said.
Te continued growth of
Edmonton and surrounding
communities will also result in
higher commercial real estate
activity in 2012 as more small
and medium businesses start-
up and industrial development
creates the demand for ware-
house condo construction and
business ofces.
Realty group sees stable
Edmonton market this year
a P R O S P E C T p r o j e c t
Maybe its time to try a new recruitment strategy.
Trying something new can lead to some great results especially when it comes to
recruitment. To nd exciting new talent and enhance diversity in the workplace,
visit ViableCalgary.ca
The right person for the job is the right person for the job.
YOUVE EMBRACED
A LOT OF CHANGES
IN THE WORKPLACE
CLIENT: VIABLE FONTS: Myriad Pro
ITEM: Viable_Ads_BusEdge.indd SCREEN: 300ppi
DATE: September 5, 2011 FINAL: PDF/X1a
FINAL SIZE: 7.62"w x 9.71"h + 1/4" Bleed PRODUCTION: M. McKendry
CMYK
TRAP AT OUTPUT
No Smoking
From Page 8
Sensors monitor body temperature,
heart rhythm, position in 3-D
It wasnt at the CES, but is
currently being tested at the
Shedd Aquarium in Chicago.
It accomplishes this feat by
analyzing features such as the
distance between the eyes, nose
and ears, which change as we
age. Pundits say this is the begin-
ning of a whole wave of ma-
chines that try to guess every-
thing from our age to gender to
level of wealth (by our clothing)
and target us as customers.
Taking personalization to the
ultimate, Gary Shapiro, head of
the CES, teased the press with a
product that is made by a Brit-
ish company which is apparently
more efective than IVF for help-
ing a woman fguring out when
she should get pregnant and it
has a money back guarantee.
It turns out the gizmo is
the DuoFertility system and it
does indeed ofer a full refund
if you dont achieve pregnancy
within a year. For 500 GBP,
consumers get an underarm
temperature sensor, a base
unit for it to talk to and online
counseling. Te device predicts
the days of maximum fertility
based on temperature and other
factors, such as bleeding, that
are entered by the user.
Teres a decent chance that
well all be wearing sensors of
some kind, even if were not
trying to pick the day to get
pregnant. Japanese company
Marubeni Information Systems
Co Ltd. has released a stick-on
sensor that measures body
temperature, heart rhythm and
position in three dimensions.
Tey say it will be useful for
monitoring elderly people and
others who are at risk.
Of course, by the time the
iPhone 8 comes out, all this will
probably just happen in our
smartphone and, if we get a chill,
it will turn up the heat and start
the hot tub for us. Just dont lend
your phone to a neighbour or it
might heat the wrong house!
Web watch
www.cesweb.org
www.nest.com
www.duofertility.com
(Dr. Tom Keenan is a
professor in the Faculty of
Environmental Design at the
University of Calgary and a
well-known speaker and
technology futurist. He can be
reached at keenan@ucalgary.ca.)
announced the achievement
of the broad outlines of an
ambitious, 21st-century
Trans-Pacifc Partnership
(TPP) agreement that will
enhance trade and investment
among the TPP partner
countries, promote innovation,
economic growth and develop-
ment and support the creation
and retention of jobs.
It should be noted that the
U.S. government is blocking
Canadas par ticipation in the
talks primarily because of
what the U.S. government calls
Canadas lack of progress on
protecting intellectual property.
Te Trade Associations feel
that Washington is not looking
at the reality of Canadas role
in the region.
According to the American
Chamber of Commerce in
Canada Western Chapter
(AMCHAM), It is well known
that Canada is the United
States largest trading partner.
Canadas participation in the
TPP will only enhance bilateral
trade moving the U.S. closer
to its goals under the NEI.
U.S. exports to Canada
are three times greater than
to all current TPP members
combined and even a one per
cent increase in U.S. exports
to Canada would amount
in billions of dollars in new
revenue for U.S. companies
across the country.
AMCHAM reps also pointed
out that Canadas government
has recently introduced
legislation modernizing the
copyright regime and has
signed the Anti-Counterfeiting
Trade Agreement.
Te groups involved
in pressuring for Canadas
inclusion in the TPP hope
that the U.S. government
will reverse its decision
and call for Canadas
full participation.
(Norman Leach is a
business consultant, speaker
and writer. He can be reached
at nsleach@telusplanet.net)
From Page 22
Trade groups push to include Canada in Trans-Pacifc Partnership
H
ave you researched the impact that social media could have on
your business? Have you registered your company with those
websites and done all of your back linking to your companys
website? Could your social media strategy be affecting how Google
and other search engines rank your site? Do you have a quality analytics
program for tracking your social media results? Get the answers to
all your questions and a free social media consultation.
How? By getting to know Internet marketing guru Shawn Moore,
president and CEO of Think Profts.com, the Google-certifed, top-rated
Canadian Internet marketing web frm that has helped over 1,600 North
American clients generate millions of dollars in sales since 1997.
As exemplifed by posting growth through the recent global fnancial
crisis, as well as surviving and growing through the dot-com crash,
Think Profts has earned Moore numerous entrepreneur awards,
including a nomination for Canadas prestigious Top 40 Under 40 list
and a nomination for the Ernst & Young Entrepreneur of the Year Award.
Moore was also chosen by the Canadian government to represent
Canada at the Washington Software Alliance.
Moore has the demonstrated expertise and has developed a unique
blueprint for success to show you how its done online Moore explains.
My mission is to educate and inspire our clients on the power of Internet
marketing, social media and
technology, he said.
By now, most Canadian
businesses have opened a window
on the world via the Internet; but the
majority have barely scratched the
surface in true earning potential.
Many manufacturers, distribu-
tors, service companies and retailers
may not realize that social media can
help them access new markets while
signifcantly reducing their operational,
marketing and advertising costs,
Moore said during a recent interview.
Most business owners are frus-
trated with poor results and dealing
with inexperienced web developers
who are unqualifed and have no
formal training or certifcation for
social media or Interet marketing,
says Moore.
Companies who come to Think Profts.com are looking for an
established, experienced and competent Internet marketing company
to develop and implement an overall Web and social media strategy
that generates results.
Within a few months after our website redevelopment and
launch with Think Profts.com, our search engine rankings increased
signifcantly. Not only did our rankings improve, but so did the quality
of our leads and our conversion rate.
Carl Kumpera, president,
Peregrine Plastics
Vancouver, B.C.
Moore and his talented team have the specialized industry knowledge
and experience to get the online results you want fast.
Consider some truly exciting examples of his innovative ideas: When
you create or rebuild a website, you have three goals: you want to gener-
ate new leads and/or sales using social media and SEO; reduce opera-
tional and printing costs and produce an automated e-mail capturing and
marketing plan to signifcantly enhance revenue, he elaborates.
Moore asks: Is your site optimized for the major search engines?
Do you know what position your site is ranked on these search engines?
We are experts in getting our customers top search-engine rankings on
Google, he continues, thereby attracting the eyes of new customers
while generating low-cost, pre-qualifed leads and sales.
Why did I invest in a company on the other side of the country, a
company I have never [and still havent] personally met? [We commu-
nicated via email, telephone, and teleconference only], the answer is
because I did my research and found they were a competent, well-
established and reputable company that I could trust. Nine months
later, the Think Profts team of talent has delivered.
Dan Z.,
National Academy of Music
Mississauga, Ont.
For those with existing websites, Moore asks: Do you have a
sales process on your website that converts visitors to paying clients?
Is it written professionally? Are you regularly reviewing and analyzing
your website traffc and activity? Are you consistently improving and
implementing new strategies like social media and mobile applications
to your website based on this review process? If not, you need to.
By using Think Profts.com, such clients as Telus, the University
of British Columbia, The Vancouver Board of Trade and Mail-O-Matic
have signifcantly enhanced their online effectiveness. Clients agree
that Moore and his teams Internet marketing strategies on social
media, search engine optimization, email marketing, web design,
e-commerce and even regional and global expansion tactics is top
of the line.
Moores reputation is such
that he is a preferred keynote
speaker on the Internet marketing
circuit, speaking at venues such
as the global Search Engine
Strategies Conference, sharing
the limelight with the likes of
Google and Microsoft.
I would like to thank everyone
at Think Profts for fnally convincing
me of the importance of Search
Engine Optimization. I was very
skeptical that SEO would make a
difference to our type of business.
I have since come to realize that this
is a very affordable way of getting
our website to the masses. Since
launching our new website earlier
this year our internet sales have
increased dramatically and we have achieved top rankings on Google,
MSN and Yahoo.
Sylvia Wilcott,
MVP Athletic Supplies Ltd.
Vancouver, B.C
For retailers, we can build online catalogues and shopping
carts with e-commerce. That way, their customers can order, re-order
and set up accounts at the fick of a wrist, Moore notes.
Our customers save tens of thousands of dollars simply by
modifying their hiring process when we build interview and recruiting
systems on their websites.
As Moore well knows, the hiring process costs corporations
enormous time and money each year. His strategy using social media
eliminates the problem of ongoing expensive ads by means of an online
application that not only interviews prospective employees, but grades
their suitability for the job.
Companies that may ideally beneft most from Think Profts
expertise, Moore notes, are manufacturers, distributors,
retailers and service companies, as well as real estate developers.
Our ideal client has revenue of at least $2 million per year and
wants to dominate their competition online.
Take advantage of a FREE consultation for Business Edge readers.
Call toll-free: 1.877.597.7888 or visit: www.thinkprofts.com
Are You Sick & Tired of Not Having a Social Media Strategy?
Think Profts.com CEO Shawn Moore (front centre, right) and
his talented team of professionals have been making the Internet
proftable for customers since 1997.
Te Lighter Side
2012 may be the last trip around our glorious sun
Cassius King
Business Edge
T
heres a favourite story
in my family about my
grandpa, a die-hard opti-
mist like myself, walking through
the front door on Christmas
Day in 1975 and proclaiming the
joyous day by announcing that
1,500 people had died in a cy-
clone in Australia. Hows that for
a lump of coal in your Christmas
pudding? As the Pogues would
say, Happy Christmas your arse,
I pray God its our last.
Now, maybe its dear old
gramps channelling his particu-
lar brand of sunshine from the
great beyond, but I have to say
that I felt much the same way
about New Year this year. Dont
get me wrong, Im a big fan of
the second biggest piss-up of the
year (the venerable Grey Cup
being the frst, of course). Im all
over the whole out with the old,
in with the new schtick; 2011
was, after all, a pretty lamen-
table vintage all around. And I
rarely grumble at an opportunity
to get dressed up and get a little
gratuitous midnight snog in. Its
just that things are feeling, well,
a little bleak.
Its not just that the Mayans
predicted that the world would
come to an end on December
21st of this particular annum
(considerately timed to avoid
another Christmas Eve at the
gas station shopping for the
whole fam damily). After all,
their credibility is a little shaky
given the fact that they couldnt
foresee their own, much more
imminent demise. I wouldnt
let them pick the winner of
the frst race at Woodbine,
let alone the end of the world.
But, even if Mesoamericas
fnest got it wrong, there are
plenty of reasons to keep up
the life insurance payments.
Europe is teetering on the
edge of a giant sinkhole and
threatening to take all of us
down with her. Te United States
and Iran are staging territorial
pissing matches over the Straits
of Hormuz. North Korea
the worlds most peculiar and
populous cult, which may or
may not have nuclear arms
is now under the control of a
man who is one year past having
to show ID to buy smokes at the
corner store. Im just waiting for
the giant, city-stomping, nuclear
lizards to emerge from the Sea of
Japan (seriously). (Im not even
going to mention climate change
because apparently that was just
a fad and we dont need to worry
about it anymore. Tank God we
dont believe in science anymore,
eh? What were we thinking?)
Tere is defnitely an
apocalyptic whif in the air.
Even political leaders whose
continued employment depends
on a pathologically disingenu-
ous optimism are joining in
the chorus of doom. Angela
Merkel and Nicolas Sarkozy
both warned in their New Year
addresses that things were
likely worse than they appeared.
(worse? We may well ask our-
selves, mired in year four of the
Great Slump, how much worse
can it get? Plenty, it seems.)
Adding to the festive spirit, the
Bulletin of Atomic Scientists
rung in the New Year by mov-
ing the Doomsday Clock up a
minute to fve minutes before
midnight. Eep!
Alas, in the face of all this
mirth your faithful correspon-
dent has made an epiphanal
life decision. He has put aside
his weeping and wailing and
undertaken a new phase of his
life, one marked by equanimity,
acceptance and calm. While we
may be awash in a sea of bad
tidings or a morass of quicksand,
it ill behooves us to lapse into
a state of malaise, anxiety and
panic. Maybe its the mid-life
crisis talking, but Ive been stuck
in enough Chinese fnger traps
in my time to know when to
stop struggling and just accept
ones fate, no matter how dis-
tasteful it may be. In my (clearly
under-medicated) mind, our
current period of tumult is
nothing but the death throes
of a dying epoch, one that we
must pass through before we
enter the tranquil promised
land of the Age of Aquarius.
Either that or my spirit is well
and truly broken and I just
dont give a damn anymore.
Either way, if this is to be the
year that the good ship Earth
steers itself lustily into the sand-
bar of ruination, if this is indeed
our last looping trip around our
glorious sun, if weve got but one
more year to endure before our
blissful release from these surly
mortal bonds, I plan to spend it
in the warmest, coziest, happi-
est place I know of (and the only
place that will have me): Denial.
Tats right, the world is going
to hell in a hand basket (where
do we come up with these
idioms?) and I plan to deal with
the horror by planting my head
frmly and inextricably in the
sand, which will logically
require that I plant my arse
frmly and inextricably in the
sand, as the latter perpetually
houses the former.
Commence la fn du monde!
I say (in my pretentious pseudo-
bilingual way). Bring it on! Call
me a hedonist, if you will, but
I plan to enjoy my last 48 weeks
or so (assuming we actually
make it that long). Im liquidat-
ing my entire portfolio, refnanc-
ing the house, cashing in the
kids RESPs (lets be honest, no
self-respecting school would
have them anyway, were really
just giving the little gafers
false hope) and going on the
biggest bender since . . . well,
since Charlie Sheen did anything
of the slightest interest. If I
have a shekel to my name on
December 22nd, I will consider
my year to be a failure (not the
frst, mind you).
Im going to call the Mayans
bluf and really piss of my cardi-
ologist by making 2012 the year
of eating dangerously. Enough of
this fexitarian, low-fat, high-
fbre hokum. If Im going to die
young, Im going to do it like the
old man: in a blaze of bloated,
hypertensive, sweat-soaked,
cellulite-cloaked glory. (Whats
that you say, Pop? Walk towards
the light? And bring pork rinds?)
Hey, if Elvis can pull it of, so can
old Cassius (I like to think the
King and I occupy a similar
niche in the pop culture pan-
theon, dont you?) Bacon and
eggs, bacon mar -tinis, bacon-
wrapped bacon deep-fried in
bacon fat with a frisson of bacon
served with a side of bacon
brownies (stop me if I sound like
a Monty Python sketch, here).
Of course, this is all taking
rather a chance. After all, the
glass-half-full types may be
right (man, those happy people
drive me crazy). Maybe this is
all just media sensationalism
and this big old world will just
keep spinning around after all.
What happens if we wake up
on December 22nd and all is
right in the world? What will
I do then? Not to worry, I have
a cunning plan: Ill cross that
bridge when I get to it.
In the meantime, enjoy the
new year. It just may be our last.
Private Wealth Management Services
Personal contact with Portfolio Managers
Professional Portfolio Management:
tailored and adaptable
You will receive regular communications
and reports
Retirement Plans including Individual
Pension Plans, Education Savings Plans,
Tax Free Saving Accounts
No Commission on Trades, All-Inclusive Fee:
tax-deductible for non-registered plans,
Full Account Access and Services
Jeff Parent, B.Eng., FCSI
Vice President &
Portfolio Manager
Jeff Parent has been providing wealth management services
to high net worth clients since 1992. From many years of
experience, he has become proficient in portfolio management
techniques and has a broad knowledge of estate and tax
planning. In his Portfolio Management role at Quadrexx Asset
Management, he applies a strong price discipline to help
control risk and improve returns. His specialty is technical
analysis with a focus on quantitative methods. He regularly
appears on Business News Network and is a recognized writer,
public speaker and educator. Parent is also the past president
of the Canadian Society of Technical Analysts.
Client: Quadrexx Asset Management
Contact/Art Director: Vic Finucci
Phone: (416) 848-0277 x 2269
Email: finucci@quadrexx.com
Publication: Business Edge News Magazine
File due date: Friday, February 10, 2012
Pub Print Date: Friday, June 24, 2012
Ad Size: 7.62" wide x 9.71"
For further information regarding Quadrexx's Private Wealth Management Services, please contact:
Jeff Parent, Vice President & Portfolio Manager parent@quadrexx.com C 403.800.5697 or
Ron Lastwika, Regional Sales Manager, Western Canada lastwika@quadrexx.com C 403.589.4377
I www.quadrexx.com I
Ron Lastwika Regional Sales Manager, Western Canada lastwika@quadrexx.com T 403.770.0314 C 403.589.4377
Mark Wainberg Head of Private Equity wainberg@quadrexx.com T 416.456.8136
I www.quadrexx.com I
Disclaimer: All information in this Ad is qualified in its entirety by the more detailed information contained in Quadrexx's QAM Class II Preference Shares Offering Memorandum. This Ad does not constitute an offer to sell or a solicitation
of an offer to purchase any investment product, which can only be made by the confidential Offering Memorandum. An investment in the Shares involves significant investment considerations and risks which are described in QAM
Class II Preference Shares Offering Memorandum. Each potential investor should read the Offering Memorandum in its entirety and carefully consider the risks and disclosures as set out therein before making an investment decision.
Minimum Investment $5,000
For Accredited and/or Eligible Investors
Investments are in Preferred Shares paying eligible dividends
(normally, tax on "eligible" dividend income is significantly less than that on an equal percentage interest income)
15% - 16% (rounded) Equivalent Interest Income for top income tax paying Canadian residents
Investments are RRSP and RRIF eligible 10% Commission
1
2
%
D
iv
id
e
n
d
In
c
o
m
e
/
y
e
a
r
LIMITED SUPPLY LEFT!
Quadrexx Business Edge Feb 10 2012_Layout 1 12-02-10 11:38 AM Page 1

Business Edge

Diunggah oleh

Informasi Dokumen

Deskripsi Asli:

Hak Cipta

Format Tersedia

Bagikan dokumen Ini

Bagikan atau Tanam Dokumen

Opsi Berbagi

Apakah menurut Anda dokumen ini bermanfaat?

Apakah konten ini tidak pantas?

Hak Cipta:

Format Tersedia

Business Edge

Diunggah oleh

Hak Cipta:

Format Tersedia

BUSINESS EDGE

Aeroplan is a registered trademark of Aeroplan Canada Inc.

Anda mungkin juga menyukai