Monthly Archives: June 2012

More ways to the market

New U.S. legislation could make it easier for smaller Canadian firms to get an American listing. But it’s one particular rule, letting start-ups sell shares via crowdfunding, that has our tech industry buzzing
By Mark Anderson
 June 18th, 2012

Beginning next year, when the so-called U.S. JOBS Act is implemented, American start-ups are going to find it a lot easier to launch initial public offerings and raise money through private placements. But will Canadian companies get in on the … Continue reading →

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Hire your elders

As Canada’s population ages, we’re counting on more retired seniors buying more stuff to keep our economy moving. A better strategy: enable those seniors to work longer instead
By Ian McGugan
 June 18th, 2012

When Tom Coughlin coached the New York Giants to a victory in the Super Bowl this past February, he also scored a victory for a much bigger team: the greying army of North American baby boomers that have hit or … Continue reading →

Posted in Economy, Top Stories | Tagged , , , , , ,

Extreme communicating

Companies are always talking to investors, employees, customers and the media, but it’s what they say and do in a crisis that people remember
By Celia Milne
 June 18th, 2012

It’s not what happens that’s important, it’s how you handle it. This old adage certainly rings true for issuer communications and investor relations in urgent and unexpected situations. Take U.S. electronics mega retailer Best Buy. Failure to address a festering … Continue reading →

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What is this thing called liquidity?

Among issuers and in financial circles generally, few concepts are more cherished, more misunderstood or carry more urgency than liquidity. Should you seek it? Where is it? Does it exist? We went looking for answers—and found plenty
By Peter Shawn Taylor
 June 18th, 2012

Love might make the world go ’round, if you happen to be a songwriter or a poet. But when it comes to the market, it’s all about liquidity. Just ask Max Lof, chief financial officer of Surge Energy Inc., a … Continue reading →

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Reimagining insurance

No new CEO in insurance these days can preach “steady as she goes.” But at Sun Life, Dean Connor’s early moves and talk of bigger change could be a litmus test for the industry
By Robert Thompson
 June 18th, 2012

Dean Connor leans forward in his chair at the boardroom table at Sun Life Financial Inc.’s downtown Toronto offices, and starts talking about history. Connor, who took on the role of Sun Life’s chief executive in December, may only be starting … Continue reading →

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Drawn to short-term debt? Know these risks

By Bruce Freedman
 June 18th, 2012

If there’s one thing I’ve learned as an analyst, it’s that markets do not reward companies that take risks outside of their core business. Whether it’s an airline that has not hedged its cost of fuel or an insurance company … Continue reading →

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Your next CFO

Too often, companies only miss good chief financial officers when they’re gone. But if you’re hiring, be prepared to make the most of it: the job’s changing, and so are the personnel
By Paul Brent
 June 17th, 2012

They might be the second-most important executives at many companies, but the role, demands and make-up of the chief financial officer vary immensely, as do the times—and the reasons—companies find themselves looking to hire a new one. For small- and … Continue reading →

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Annette Verschuren: The compleat director

In The Director’s Chair with David W. Anderson: Annette Verschuren, former president of Home Depot Canada and Asia, says today’s best directors are equally successful in the boardroom and in the community
 June 17th, 2012

Annette Verschuren is a highly regarded CEO, chair and director who served as president of Home Depot Canada and Asia for 15 years through 2011. Her primary role today is chair and CEO of NRStor Inc., an energy storage company. … Continue reading →

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Through a glass, murkily

After waiting nearly two years for the federal government to clarify the criteria used to rule on foreign takeovers, one senior member of the M&A community says the latest changes fall short
 June 17th, 2012

Insider Subrata Bhattacharjee Who Partner, co-chair, national trade and competition group, Heenan Blaikie Involvement Eighteen months after the Conservative government killed BHP Billiton’s attempted takeover of Saskatchewan Potash Corp., it’s just unveiled long- promised amendments to the Investment Canada Act to … Continue reading →

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Quiet money runs deep

You don’t hear too much about debt private placements, in part because they’re private. But they’re a serious source of capital for companies shopping for longer terms from buyers eager to deal
By Robert Olsen
 June 17th, 2012

Private placements are a generic form of financing that is sometimes misunderstood. Part of the confusion arises from the fact that the term “private placement” can be used to describe several types of financing. For instance: cross-border high-yield financings typically … Continue reading →

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The buck stops at the board

High-level compliance and control failures, whatever the specific cause, are ultimately a board’s responsibility. Saying the “directors didn’t know” is no excuse
By Richard Leblanc
 June 17th, 2012

If the CEO of SNC-Lavalin allegedly overrode his own CFO and breached the company’s code of ethics in authorizing $56 million of questionable payments to undisclosed agents that the federal Canadian police are now investigating, did the board of directors … Continue reading →

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Managing hot spots

At most companies, the overall economy and trends in governance are primary factors determining executive pay. But in booming sectors like Canadian energy, boards require a different approach
By Ken Hugessen
 June 17th, 2012

In most jurisdictions and industries, the combination of a continuing weak economy together with improvements to executive pay governance has lead to a gradual stabilization of executive compensation levels. Notwithstanding this broad trend, there are some markets where demand for … Continue reading →

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Risk starts at the top

While most directors realize an ineffective CEO is one of the greatest risks to any enterprise, too many boards still base decisions about CEO performance on inadequate assessment methods. Here’s how to get the full picture
By John Caldwell
 June 17th, 2012

The risk factors section of Hewlett-Packard’s 2011 Annual Report runs 16 pages and describes 24 risks, yet the only tangential reference to leadership risk is this single sentence: “The failure to successfully hire executives and key employees or the loss … Continue reading →

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Faster approvals no sure thing

The federal budget’s sweeping revisions to Canada’s environmental laws hinge largely on accelerating project assessments and approvals. But will First Nations’ rights trump Ottawa’s intent?
By Sandra Odendahl
 June 17th, 2012

There was a time when environmentalists would be delighted to see the word “environment” mentioned even a few times in a federal budget. Well, they are a little less happy about seeing that word in this spring’s edition. Bill C-38, … Continue reading →

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Putting investors on the couch

Hiring a third party to do an investor perception study isn’t everyday stuff. But it can be invaluable for IR strategy at critical times when management has to know exactly what shareholders think
By Chaya Cooperberg
 June 17th, 2012

To many companies, commissioning an investor perception study can seem like a waste of money. Why pay a consultant to ask shareholders what we can ask them ourselves? After all, the reasoning may go, company management and investor relations teams … Continue reading →

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