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John Thomson  

Rumours and things

Were you surprised by the CTV story regarding Real Canadian Superstore in Coquitlam? Apparently the best–before date was changed on some fresh fish products, they were then repackaged and placed back in the freezer counter.

Of all the products in a grocery store that should be destroyed after they reach the best before date, it has to be fish.

What has really surprised me is the way the chain is handling the bad publicity. What have they made, one statement? I still haven’t seen an executive speaking for the company.

In business you have a crisis on your hands when the media decides to report it. Actually, Galen Weston should be talking for the company. Through their TV advertising we have grown to like the young man and we trust him. They have missed a real opportunity to set the record straight with an honest approach to a situation that the public will not forget.

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For many years every year we brought in an economic expert to give us a good look at what to expect for the year ahead. Then the boom hit and nobody was looking for information - things were too good. Now with the problems generated from last year it was time to have an expert on the situation visit us in the Okanagan and give us his picture of the year 2011.

Benjamin Tal is the Deputy Chief Economist with CIBC World Markets Inc. He is responsible for analyzing economic developments and their implications for North American fixed income, equity, foreign exchange and commodities
markets. He also acts in an advisory capacity to bank officers on issues related to wealth management, household/corporate credit and risk.

Recently described as one of Canada’s leading experts on the real estate market by the International Monetary Fund, Mr. Tal is a regular commentator on financial and economic trends in the Canadian and American print and electronic media. In addition to providing expert testimony on various economic issues in front of Canadian Parliamentary committees, Mr. Tal
has represented Canada in NAFTA discussions with regards to the structure of the North American labour market. He has also led investment seminars on behalf of the Canadian Ministry of Foreign Affairs and leading institutional investors in major European cities.

Mr. Tal is a member of the Economic Committee of The Canadian Chamber of Commerce and a board member of the Toronto Association for Business and Economics (TABE).

Join Mr. Tal at the Coast Capri Hotel for a gourmet breakfast and a presentation “Decision 2011” The Economy. Tickets at Ticketmaster. $38 (all taxes and fees included). 250-860-1470.

“If you miss this event don’t admit it."

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Deerhurst Resort, which gained international prominence as the site of the G8 Summit in Ontario, has been sold.

The U.S. based owners put the property on the block in July of last year, just weeks after hosting the summit presided by Prime Minister Stephen Harper. The deal is expected to close over the next 30 days.

The heads of the major economic countries, including U.S. president Barack Obama and French President Nicolas Sarkozy stayed at the posh resort to discuss issues such as global economic policy and health care.

The resort has two 18-hole golf courses, a 40,000 square foot meeting and exhibition space and its own private airport.

At $26 million, the price seems something of a bargain. In 1998 it was purchased for $21.2 million. And more than $60 million has been put in upgrading the property since then.

This time around it doesn’t hurt that images of Deerhurst have been sent around the globe during last month’s G8 Summit gathering of top world leaders. During the meeting, an eight-kilometre wire fence was installed around the resort for security.

Briton Charles Waterhouse originally built the resort in 1896 as a tourist camp in the Muskoka Lakes area. It had a lodge and two cabins at the start. Since then it has become a major tourist destination.


More John Thomson articles

231997
About the Author

John Thomson is the Okanagan's pre-eminent business columnist writing his column, Rumours and Things, for over 24 years. Plugged in to the valley's who's who, John keeps his readers coming back for more with his straight talk and optimistic perspective on where we are headed next.

When John is not writing his column, he runs a sixteen year old think tank called the Executive Roundtable and holds his popular "Thomson Presents" quarterly business speaker seminars.

Have a comment, question, or tip for John? 

E-mail John at
[email protected]
or send him a fax at 250-764-8255.

 



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The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet does not warrant the contents.

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