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CurrentsDecember2011


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December 11 Volume 8 No. 4Currents is published 4 times a year for members ofthe Saint John Board of Trade and Greater Saint Johnsbusiness community. Average circulation is 5,000 perissue including distribution to all Board of Trademembers and to all business addresses in GreaterSaint John. Opinions expressed in this publicationare not necessarily the view of the Saint John Boardof Trade. Suggestions and comments are welcome.

The Board of Trade cannot be held responsiblefor any errors or omissions that may occur in thispublication. Currents reserves the right to editany material submitted.

SAINT JOHN BOARD OF TRADE BOARD OF DIRECTORS

EXECUTIVE

John Warrington, ChairpersonCFO Atlantic Ltd.

Larry Hachey, 1st Vice-ChairBlueChip Leasing Atlantic

Eric Poirier, 2nd Vice-Chair

Bell AliantPatrick Sohy, SecretaryAvant-Garde Construction and Management Inc.

Matthew McKenna, TreasurerGrant Thornton LLP

J. Michael Murphy, Immediate Past ChairBMO Bank of Montreal

Andy Lodge, Member-At-LargeBarry Spalding

Christine Fagan, Member-At-LargeWorksafeNB

DIRECTORS

Rob Belliveau, Emera New Brunswick

Margo Buchanan

Michael George, Ambir

Kevin Hocquard, Stantec Consulting Ltd.

Dr. Mary Jarratt, Saint John Medical Society

Mary Keith, J.D. Irving, Limited

Grant D. Kimball, Angus-Miller Provincial InsuranceBrokers

Claire Ryan, FUSION

Dr. Ruth Shaw, University of New Brunswick, Saint John

Mark Sherman, Irving Oil Operations GP

Gerry Verner, Brunswick News

Scott Walton, Enovex

STAFF

Imelda Gilman, President

Carole Cunningham, Office & Events Coordinator

Michelle MacDonald, Administrative Assistant

Erinor Jacob, Policy & Research Officer

Nicholas Wheatley, Marketing & Sales Of ficer

CONTACT

Please address editorial enquiries to:

Saint John Board of TradePO Box 6037, 40 King St.Saint John, NB E2L 4R5

Tel: (506) 634-8111 Fax: (506) 632-2008E-mail: [email protected]

Visit our website at www.sjboardoftrade.com

Like Us on Facebook & Follow Us on Twitter

PRODUCTION

Editor: Imelda Gilman

Graphic Design & Production: Morrison Marketing

Printing: Transcontinental

Mail Preparation: United Catena Training Centre

Mailed under Canada Post Publications MailSales Agreement No. 40010390

During November we launched our new

Membership Growth Campaign:

Contribute.Develop.Grow!

This campaign is designed to strengthen

our member benefits, enhance our

community voice & expand Board

memberships. The goal is to provide our

members with an enhanced network in

which to draw upon. Here is a quick

rundown of how this campaign is focused:

Contribute: The Board of Trade

encourages feedback from our members

on issues that they feel are important to

our Business Community. This feedback

helps create policies & plans that support

the desires of our Members. A great way

to contribute is to get involved on a

committee, task force, member forum, or

participate in one of our online surveys!

Develop: We offer educational events

for our members to develop themselves

professionally through workshops, and

our Lunch and Learn series. Through the

support of our Members, the Board of

Trade also continues to develop our

business community in the directions set

forth by our members and make our

community the best place to conduct

business.

Grow: Participating in networking

events, such as our mixers and

Distinguished Speaker Series Luncheons,

are great opportunities for our members

to promote and grow their businesses and

contacts. In order for the Board of Trade

to strengthen our members impact in the

community and their contacts, it is

imperative that we continue to create a

stronger voice. Over the next 2 years, we

have a goal to increase our Member

Companies to over 800 strong.For the Board of Trade to accomplish

this ambitious goal, we are asking for the

help of our members. Talk to your business

acquaintances about the Board of Trade

and why you are a member. Then refer

them to Nick Wheatley, our new

Marketing & Sales Officer. Each time we

add a new member to our organization

that translates into more connections, more

business opportunities and a stronger

community for our members to enjoy.

New Members can now quickly &

easily apply for their membership directly

online at www.sjboardoftrade.com. Also,

members can now register for events and

pay invoices online!

As Chairman of the Saint John Board

of Trade, this campaign is one of the

targets I set earlier this year when I became

Chair in May. As I mentioned in my

Incoming speech, it can be hard to

articulate all of the benefits of being a

member in the Board of Trade as the

intangibles can be more valuable than the

tangibles. With the increased ease of

applying for membership online, our great

member benefits, and our members talking

about their experiences, I am confident

we will reach our goal over the next two

years, making our Outlook 2012 exciting!

Seasons Greetings!

Saint John Board of Trade

Chairs Message

From left to right: John Warrington, Chairman

of the Saint John Board of Trade, with MarkCarney, Governor of the Bank of Canada,Larry Hachey, First Vice-Chair Saint JohnBoard of Trade, and Imelda Gilman,President, Saint John Board of Trade


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Outlook 2012

Conference Board

of Canada

declined marginally in the second quarter

and growth will hover in the range of 2

per cent this year.

The pace of economic activity should

pick up in 2012, but will be constrained

by weaker public spending as federal and

provincial governments are put on a path

back to fiscal balance. Public infrastructure

spending has peaked and will decline

sharply in 2012. Moreover, confidence

has been shaken by these turbulent times,

and there are signs that consumers are

tightening their purse strings and saving

a bit more of every paycheque. The

unemployment rate will fall only modestly,and businesses will continue to face the

need to adapt to a chronically strong

currency.

These difficulties will be keenly felt in

New Brunswick. Job markets and private

These are turbulent times for the global

economy. Confidence was shaken over

the summer by the European sovereign

debt problem. The American debt ceiling

debacle only added to the uncertainty and

prompted speculation about a second

recessionary period, driven primarily by

the inability of many governments to bring

excessive public debt loads under control.

Billions of shareholder value has been

washed away in the ensuing decline in

global financial markets. And even with

a deal in place to help the embattled Greek

economy, Europes problems are far from

resolved a fact reflected in the rollercoaster path of equity markets as we head

into winter.

A sluggish outlook south of the border

is also not good news for Canada. U.S.

real estate markets remain weighed down

by the backlog of distressed properties

and recent declines in consumer

confidence bode poorly for household

spending going forward. Still, there are a

few positive signs in the U.S. economy.

Businesses balance sheets are largely in

good order, commercial lending appearsto have finally turned a corner, and we

have also recently seen an uptick in

industrial and export activity. The current

forecast for U.S. growth has been

downgraded to less than 2 per cent in

2011, but assuming that the U.S. economy

avoids recession and begins adding more

jobs (a key factor in restoring confidence)

it will grow by 2.5 per cent in 2012

Canadas domestic economy has

performed relatively well compared to

most other developed countries.

Employment has recovered quickly, profits

have rebounded, business investment has

surged at a remarkable pace over the past

year and a half, and housing markets are

balanced. If Canada were an island,

sustained growth would be attainable. But

Canada is deeply integrated into global

trading and financial systems, and hence,

not immune to these negative external

factors. As a consequence, real GDP

investment have lagged the general

recovery in other parts of the country. But

there is some evidence that labour markets

are beginning to heal, and private

investment should increase heading into

2012 as interest rates are widely expected

to remain low for a while yet. The forestry

and mining industries will rebound,

providing a much needed boost to

manufacturing. And, as job creation picks

up, so will consumer demand, which will

be welcome news to the provinces

retailers. Governments contribution to

growth will be limited for several years

as necessary steps to eliminate the deficitare taken, which leaves the burden

squarely on the private sector to keep the

recovery going.

Todd A. Crawford, Economist

Conference Board of Canada

Mark Carney,Governor of theBank of Canadaspoke to Boardof Trade membersSeptember 20, 2011

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The Atlantic Provinces EconomicCouncil (APEC) released its annual

economic outlook for the four

Atlantic provinces in November.

While the global economic recovery

continues, diminished confidence

is translating into more subdued

growth prospects in 2012, globally

and in Atlantic Canada. There are

a number of risks to APEC's

forecast including the fiscal stance

in the US and the European

financial crisis.In 2012 APEC expects to see

muted growth in consumer

spending, limited employment

growth and a slowing housing

market across most of the Atlantic

region. Government spending is

projected to decline while the

outlook for exports is mixed due to

modest global demand growth and

anticipated changes in Atlantic

Canada's output of key products.

Newfoundland and Labrador's

growth will rise 4.2% this year on

a jump in mining production and

capital investment. In 2012, lower

oil output will offset further gains

in mining and continued strong

investment with real GDP forecast

to moderate to 1.1%. Slower

APEC

Update

employment growth will alsoreduce gains in consumer spending.

In Prince Edward Island, weak

consumer growth, declining

government capital spending and

slowing exports will lead to GDP

growth of about 1.3% this year. A

slow recovery in the US and further

cuts in public investment will keep

GDP growth weak at about 1.2%

in 2012.

Poor consumer growth and

slowing investment in Nova Scotiawill lead to growth of about 1.0%

this year. GDP growth will be

limited to growth of about 1.2% in

2012 assuming the paper mill in

Port Hawkesbury remains closed

throughout 2012 and expansion

plans get underway as planned at

the Halifax shipyard.

New Brunswick's overall GDP

is expected to increase 1.5% In

New Brunswick in 2011, as

stronger exports partially

compensate for a weak domestic

economy. Real GDP is forecast to

grow 1.3% in 2012 as weak capital

investment and fiscal restraint limit

growth potential.

Media release from Atlantic Provinces

Economic Council November 2011.

Saint John one

of Smart21

Outlook 2012

Saint John is the intelligent choice.

The city has been designated one of the

worlds Smart21 high tech hot spots by the

Intelligent Community Forum, an international-

based organization dedicated to economic and

social development in the broadband economy.

Saint Johns application highlights the early

world-leading work done in the city by NBTel

developers and its Living Lab and the influence

it had on the development of the citys

contemporary broadband culture.

The application highlighted the citys modern

development including the contributions of

Enterprise Saint Johns innovative True Growth

approach to multi-sector development, UNB

Saint John in the creation of a knowledge

workforce, PropelICTs mentorship ofentrepreneurs, BCAPIs commitment to social

innovations and Uptown Saint Johns campaign

to encourage people to live life Uptown.

According to the most recent census

statistics, Saint John has the highest median

income in New Brunswick and increasingly

those earnings belong to university and

community college-educated citizens. Between

1991 and 2006, the number of university-

educated residents rose by 40 per cent; 24 per

cent more Saint Johners hold community

college diplomas.Becoming a Smart21 community is the first

step in Saint Johns bid to become one of the

Top Seven Intelligent Communities for 2012.

That announcement will take place in early

2012.

Excerpts from a news release by Enterprise Saint John.


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Saint John Board of Trade

Member Profile: Touchstone Community School

Education is the not the filling of a

bucket, but the lighting of a fire. This

quote by Yeats sums up the philosophy

behind Touchstone Community School,

and the evidence of this greets me every

day as I peer into the Grade 5 class, wherefuture doctors are eagerly dissecting brains

and eyeballs, or when I wander into the

grade two class, where future historians

are elbow-deep in water, panning for gold

as they learn about the plight of the early

settlers, or as I laugh and play a game of

soccer en franais with the Junior

Kindergarten class. Touchstone proves that

if children are inspired in the classroom

each and every day, academic success isnot a struggle - it is just what we do. But

what I love most about Touchstone is not

the fact that our kids are exposed to an

expanded and challenging elementary

curriculum, its the knowledge that their

learning goes far beyond what happens in

school. Touchstone kids have a head star

on the skills and qualities that have become

necessary for the world of tomorrow:

initiative, critical thinking, public speakingand most importantly, passion.

Article submitted by Jeff McAloon, Principal,

Touchstone Community School

www.touchstonecommunityschool.ca

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CONGRATULATIONS

AWARD RECIPIENTS

27th Annual

OBAAWARDS

THAN K YOU ~ TO OUR SPONSORS

MAJOR SPONSORS

BUSINESSEXCELLENCE

Bayview Trucks& Equipment Ltd,Mike Nagle

ENTREPRENEURIALACHIEVEMENT

PUNCH Productions,Judith Mackin & Robert Moore

EMERGINGENTERPRISE

Go-Go Gymnastics,Kara Hachey

YOUNGENTREPRENEUR

Keith Brideau(Historica)

CHAIRSAWARD

EnterpriseSaint John,

Tony Gogan

BIG HEART AWARDHestia House,

Elaine Northrup& Kelly Ferris

AWARD SPONSORS

Shred Guard | Saint John Energy | Enterprise Saint John

AVW Telav | Telegraph Journal | TriStar Mercedes-Benz

OUTSTANDING SPONSORS

Advocate | DCAM Productions | Morrison MarketingCHSJ Country 94.1 | 97.3 The Wave

GENEROUS SPONSORS

ClinicServer | Dillon Consulting | Distinctive OccasionsEastern College | Hilton Saint John | Key Industries

Lancaster Florist | Opera Bistro


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