Bulletin Board

Bulletin Board is the Toronto Board of Trade’s weekly e-newsletter, designed to provide members with up-to-the-minute information on Board of Trade policy and advocacy activities, media coverage, upcoming events, partnered events, member promotions and Board of Trade products and services. Bulletin Board is emailed to members of the Board of Trade and Toronto's business community every Wednesday at 4 p.m.

View the latest feature articles below, or take a look at this week's full issue of Bulletin Board.

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This Week's News

March 17, 2010

Your opportunity to network with the world – right here in Toronto

Toronto’s motto, “Diversity Our Strength,” perfectly captures not only our multi-cultural mosaic, but our business community, as well. Experience the city’s business diversity for yourself at the Board’s Multicultural Mega Networking, March 25 at Events on the Park.

Presented in partnership with the Association of Canadian Chinese Entrepreneurs (ACCE), Hispanic Business Association, Taiwan Entrepreneur Society Taipei/Toronto (TESTT), The Indus Entrepreneurs (TiE) and Toronto Hispanic Chamber of Commerce, this unique event will give Board of Trade members opportunities to network and gain new perspectives from a wide range of professionals throughout the city.

It’s also an opportunity to create new business connections – here in Toronto and in markets around the world. Adding multicultural, multilingual contacts to your network is particularly important for entrepreneurs who want to explore foreign markets.

The “Networking with the World” event is just one of the ways the Board of Trade is focusing on creating opportunities for diverse professionals to come together, network and share ideas. In the fall of 2009, the Board launched its Forum to Enhance Diversity, an initiative aimed at enhancing and leveraging the diversity of our Toronto’s business community.

Chaired by Rizwan Ahmad, Vice President, Commercial Banking at RBC, the Diversity Forum is comprised of business leaders with expertise in all areas of business. The group is focusing, in particular, on the integration of foreign-trained professionals into Toronto’s small and medium-sized businesses, along with opportunities to make the Board’s membership more reflective of Toronto’s business community.

“The diversity of our business community is one of the Toronto region’s greatest advantages,” says Board of Trade President and CEO Carol Wilding. “Presently foreign-trained professionals do not enjoy optimal success once they arrive here. We need to take advantage of this untapped talent pool and truly make diversity our strength.”

The Board invites you to network the world in Toronto, March 25 from 6:00 p.m. to 8:00 p.m. at Events On The Park.

Register online now or call 416.862.4500.

Swing into Spring at the Board’s Annual Golf Tournament

The warmth of spring has hit Toronto early, and what better way to celebrate the new season than with fellow members and prospects on the golf course?

Join fellow members and a wide range of business professionals from across the city on May 19 at the Toronto Board of Trade’s Annual Golf Tournament. A highly anticipated spring tradition, this event gives members an opportunity to network and to entertain clients and prospects over 18 holes of golf at The Country Club in Woodbridge, one of the region’s best loved courses.

This spectacular day of play kicks off at 11 a.m. with a shotgun start and scramble format, followed by an on-course lunch. Enjoy two drink tickets per player, complimentary cart and on-course contests such as Longest Drive and Closest to the Pin. Then wrap up the day with an exciting awards banquet and prize giveaways.

Members and non-members alike are welcome to join us for the Annual Golf Tournament. Book your spot now, and enjoy early bird pricing before April 10!

Planning on bringing friends or entertaining clients? Book a foursome before March 28, and take advantage of a complimentary state-of-the-art 3D golf simulator session.

Want to take a more active role in presenting this year’s tournament? This popular event offers a wide range of sponsorship opportunities. For more information, email sponsorship@bot.com or call 416.862.4565.

March 10, 2010

Surprise $100-million surplus top-up raises questions about transparency

Toronto Mayor David Miller today announced that the City has found an additional $100 million of additional funds, boosting the total 2010 surplus to $350 million. Toronto Board of Trade President and CEO Carol Wilding called the announcement, “a troubling statement about management of the City’s finances.”

“The Board has long advocated that the City adopt a more transparent public budgeting process that demonstrates a commitment to public accountability,” said Ms. Wilding. “The sudden and substantial increase shows that significant savings can be found in the City’s operations, but it also begs the question why, after public budget consultations are complete, are critical documents still being released?”

Mayor Miller outlined that $25 million of the $100 million surplus would be used to lower previously announced tax increases of 4% for residential and 1.3% for businesses. Those increases will now be held, says the mayor, to 2.9% and less than 1% respectively.

If the business property tax hike does remain below 1%, “the City will be on track to return to its long-term plan of achieving regional business property tax competitiveness,” noted Ms. Wilding.

The remaining $75 million will be placed in a tax stabilization reserve to pay down the $469 million pressure the City has projected for the 2011 operating budget.

Read Mayor Miller’s full remarks from this morning’s press conference.

See Carol Wilding’s deputation to the City Budget Committee, in which she emphasized the need for expense reduction, greater transparency and a renewed commitment to job creation and investment.

Download Bending the Expenditure Curve, the Board’s full written submission to the City Budget Committee.

“Open Ontario Plan” an investment in Ontario and Toronto region

This past Monday, March 8, the Government of Ontario unveiled its new, five-year Open Ontario Plan, which promises to strengthen the province’s economy and create and protect jobs.

The Board of Trade was buoyed by the Plan’s commitments to job growth and fostering innovation.

The plan was the central focus of the government’s 2010 Speech from the Throne and “begins with creating a climate where business can thrive, create jobs and build innovative new products to sell to the world.” Full details of the Open Ontario Plan can be found here.

Speaking with Karen Horsman, host of CBC Radio’s Here & Now, Toronto Board of Trade President and CEO Carol Wilding called the speech “promising,” ahead of the 2010 budget release later this month but cautioned that the government must protect key commitments made in Budget 2009.

“Lieutenant Governor David Onley’s speech touched upon a number of priorities for Board of Trade members, including access to capital, building the green economy and investing in training and post-secondary education,” Ms. Wilding said. “While the Open Ontario Plan is a positive sign, the McGuinty government must not lose sight of past priorities such as infrastructure, as Ontario continues towards economic recovery.”

The Speech from the Throne also highlighted opportunities to build the Toronto region’s economy and create jobs in the innovation and financial sectors.

“The financial sector is a foothold of strength for the region,” Ms. Wilding added. “The Government of Ontario echoed the Board of Trade’s call for the National Securities Regulator to be located in Toronto and the Open Ontario Plan has the potential to propel the sector to becoming one of the strongest in North America.”

Ontario’s Throne Speech came on the heels of the unveiling of the federal government’s 2010 Budget on March 5. The federal government renewed its commitment to invest $19 billion as part of Canada’s Economic Action Plan. Under Year 2 of the Action Plan, the budget allocates $7.7 billion for infrastructure and a series of initiatives aimed at advancing Canada’s leadership in research, development and innovation.

Calling this a “prudent” budget, Ms. Wilding noted that, “Board of Trade members rank innovation and access to capital among their top priorities. The federal government’s commitment in this budget to positioning Canada as a global leader in research, innovation and fostering partnerships between academic institutions and the private sector is certainly a positive signal.”

Read the Board’s full response to the 2010 federal budget.

Download the Board’s 2010 pre-budget submission to the Government of Ontario.

March 3, 2010

Board president cool under fire from city councillors

This past Monday evening, a welcome annual opportunity to present recommendations to the City on its proposed operating budget turned into an intense exchange for Board of Trade President and CEO Carol Wilding.

Watch the full proceedings from Monday’s Budget Committee meeting now. Ms. Wilding’s remarks begin at 59:30.

Following Ms. Wilding’s five-minute deputation, some City councilors lobbed pointed questions about the Board’s calculations and recommendations. Ms. Wilding’s responses remained focused on the Board’s research data and the issues that matter to our members.

Councillor Gord Perks, for example, asked Ms. Wilding if she was aware that the 2010 budget was balanced.

“Balanced, but unsustainable,” Ms. Wilding replied, one of several responses that met with applause from a wide range of city builders in attendance, including Jane Hargraft and Marshall Pykoski of Toronto’s Opera Atelier. Ms. Wilding was one of 25 Toronto residents and stakeholders who presented deputations on the 2010 operating budget to the City of Toronto’s Budget Committee that evening.

The Board also submitted a backgrounder outlining nine recommendations to the City. Entitled Bending the Expenditure Curve, the submission emphasizes that the proposed 2010 operating budget does not go far enough to rein in spending and address Toronto’s chronic structural deficit. As the Board’s Growing Chasm research report projects, this deficit could rise to over $1.2 billion by 2019 without a plan to curb expenditures and achieve long-term financial stability.

In her oral deputation, Ms. Wilding acknowledged the City’s efforts to balance its books but highlighted three areas that require bold action in the near term:

• Controlling expenditures, which continue to escalate year over year
• Ensuring greater transparency in the City’s budgeting process
• Focusing on attracting investment and creating jobs

In regard to the first point, Ms. Wilding urged the Committee to focus on the TTC “as a starting point” to seek greater cost efficiencies. This year alone, the City’s subsidy of TTC operations has climbed by nine per cent.

“Torontonians don’t believe they are getting value for money from the TTC,” said Ms. Wilding. “An impartial assessment of the TTC by the Auditor General is in everyone’s best interests.”

The Board also called on the City to maintain its commitment to its “Enhancing Toronto’s Business Climate” economic development policy, which aims to improve Toronto’s property tax competitiveness for business.

We want to know what you think. Read our full submission and share your thoughts and comments. Next month, the Board will release detailed long-term policy recommendations aimed at fixing the City’s finances — an essential part of our VoteToronto2010.com campaign.

Rocco Rossi wants to take back Toronto

Speaking to a sold-out crowd at today’s VoteToronto2010.com Speaker Series event, Rocco Rossi explained that he has one plan and three priorities in order to “take back our city.”

“My plan involves balancing the City’s books, attacking gridlock and getting serious about new economic growth,” said Mr. Rossi earlier this afternoon.

Full text of Mr. Rossi’s remarks can be found here.

Addressing nearly 800 business and political leaders, Mr. Rossi’s speech focused on fixing the City’s finances and regaining control of spending. Without these actions, he emphasized, Toronto is “heading for a fiscal crash landing.”

“The Board of Trade has led the way on sounding this alarm,” he said. “Regrettably, your calls for action did not inform this year’s budget, but if I am elected they will serve to drive next spring’s budget.”

In Mr. Rossi’s opinion, the City’s latest operating budget missed “five golden opportunities to ensure that 2010 would indeed be our last budget crisis”:

• The failure to move to multi-year planning
• Failure to regain control over our labour costs
• Failure to begin re-inventing the way we deliver services
• Missed opportunity to reduce debt and
• Missed opportunity to speak frankly about the TTC

Mr. Rossi also spoke passionately about using 50 per cent of the additional development fees the City receives from building projects that go beyond current zoning to build communities in Toronto’s 13 priority neighbourhoods. Currently, these additional fees are earmarked for community projects strictly within the ward where construction takes place.

“That’s not building up a city. That’s widening the gap between rich and poor,” said Mr. Rossi. “I love the idea that by building a condo in Rosedale we can also build community in Rexdale.”

Mr. Rossi’s speech was part of the Board’s ongoing VoteToronto2010.com Speaker Series. Fellow mayoral hopeful George Smitherman addressed Board members in December. The series is part of our year-long VoteToronto2010.com campaign designed to define the issues and spark non-partisan debate ahead of Toronto’s next municipal election.

You can also view part one (of three) of Mr. Smitherman’s speech here.

Watch for more photos and video from Mr. Rossi’s speech at bot.com and on YouTube in the coming days.

February 24, 2010

Show your support: 2010 City Budget consultations

On March 1, Toronto Board of Trade President and CEO Carol Wilding will appear before the City of Toronto’s Budget Committee to present a deputation on the 2010 operating budget, part of the Board’s advocacy efforts on behalf of all members. The deputations are open to the public. We encourage members to come to City Hall and support the Board’s deputation on Monday evening at 6:30 p.m.

Last week, Toronto Mayor David Miller and Budget Chief Shelley Carroll presented a $9.2-billion balanced operating budget that included a 2.5 per cent overall tax property tax increase (4 per cent for residential homeowners and 1.3 per cent for businesses) as well as new or higher user fees for some city programs.

This morning Councillor Carroll delivered a special budget briefing to members at the Board of Trade, noting that “those user fees are still being adjusted so that they are still very competitive in market value terms, but they match when we compare them to other cities.”

The budget, however, is balanced thanks to $313 million in non-sustainable funds. It also forecasts a shortfall of some $469 million for the 2011 fiscal year.

Last Sunday, Ms. Wilding co-authored a second opinion editorial on the City of Toronto’s finances with Don Drummond, Chief Economist with TD Bank Financial Group. Entitled, “First task for new mayor: Get spending under control,” the article responded to the 2010 operating budget. The article calls for a combination of short- and long-term measures to heal the city’s budget woes, including reviewing city-owned assets, implementing new labour negotiation rules and freezing hiring and spending at City Hall.

The Board of Trade has made a priority of leading the 2010 municipal election discussion. Our new web site, VoteToronto2010.com, is the leading, non-partisan forum for online election discussion. The Board’s groundbreaking research in The Growing Chasm: An Analysis and Forecast of the City of Toronto’s Finances projects that the City’s current deficit could, if left unchecked, rise to over $1.2 billion by 2019.

Public and stakeholder operating budget hearings are open to all Board of Trade members and Torontonians. Deputations run from 6:30 p.m.–9:30 p.m in Council Chamber on March 1.

More information on the 2010 City Budget can be found here and the operating budget schedule is available here.

KPMG Technology Series inspires Toronto’s Information and Communication potential

More than just the financial hub of Canada, the Toronto region is the centre of the country’s Information and Communication Technology (ICT) sector. In fact, Toronto is third largest in all of North America, behind only San Francisco and New York.

Recognizing the city’s potential in this sector, KPMG LLP Canada has partnered with the Toronto Board of Trade to launch the KPMG Technology Series. This special program of events is designed to showcase the strength and opportunities in Toronto’s ICT sector.

“Partnering with the Board of Trade offers a unique opportunity for members of the ICT community to come together and learn about new trends as well as network with fellow members, peers, partners and suppliers,” says Brendan Maher, National Industry Leader, Information, Communications & Entertainment, KPMG. “While many well-established Canadian technology firms are headquartered here in Toronto, this city is also home to a large segment of innovative, creative and entrepreneurial companies. Together, they make for an exciting sector to be involved with, driving change, the economy, and helping Canada to move forward on the global stage.”

At these events, members have the opportunity to hear the latest insights and success stories from industry leaders and innovators. Recent KPMG Technology Series speakers include Nadir Mohamed, President and CEO, Rogers Communications; Dean Prevost, President, Enterprise Solutions Division, MTS Allstream; and Dave Dobbin, President of Mobilicity.

KPMG is a global network of professional firms providing Audit, Tax and Advisory services. Since joining the Board of Trade in 1976, the company has been an active Prestige member. From sponsoring technology events to educating small business members on tax-related issues, KPMG has demonstrated its strong commitment to city building through its involvement with the Toronto Board of Trade.

The next KPMG Technology Series event takes place February 26, featuring Dragan Nerandzic, Chief Technology Officer, Ericsson Canada Inc. Mr. Nerandzic will look ahead to the future trends of technology and discuss how Ericsson Canada is connecting Canadian business and the IT industry in new ways.

Reserve your seat now, or call 416.862.4500.

February 17, 2010

A balanced operating budget for Toronto, but still no long-term plan

The Toronto Board of Trade reacted to yesterday’s release of the City of Toronto’s 2010 operating budget by expressing urgent concern about the City’s lack of long-term fiscal sustainability.

“This budget does not solve the fundamental structural imbalances in the city's finances," said Board of Trade president and CEO Carol Wilding as quoted in today’s Globe and Mail. "There isn't any clear or complete long-term plan to get us to that sustainability."

Toronto Mayor David Miller – alongside Budget Chief Shelley Carroll, who will be speaking at the Board of Trade next week (see below for details) – yesterday presented a $9.2-billion balanced operating budget that included property tax increases of 4% for residential homeowners and 1.3% for businesses. However, the budget is balanced thanks to $313 million in non-sustainable funds. It also forecasts a shortfall of some $469 million for the 2011 fiscal year.

The budget includes new or higher fees for some city programs and reduced services such as snow removal. While the city managed to save $170 million by cutting 260 jobs on top of other savings, the flip side is that expenses are expected to go up by roughly $500 million over last year.

Mayor Miller also announced a Toronto-Ontario Partnership Agreement on Transit Funding deal that is in the works and would come into effect December 1. No further details of the partnership were provided.

The Board has long called for the City to adopt a multi-year budget model. While this latest budget does forecast one year ahead, still no long-term plan was delivered.

Last week, your Board of Trade released The Growing Chasm: An Analysis and Forecast of the City of Toronto’s Finances, a groundbreaking piece of research that forecasts that the City’s current deficit could rise to over $1.2 billion by 2019, if left unchecked.

The Growing Chasm has also garnered the attention of Toronto’s media. The Toronto Star’s February 10, op-ed supported the report, while the Growing Chasm has become a topic of discussion for talk radio hosts across the city.

While the budget will be scrutinized for the next eight months leading up to the municipal election, City of Toronto Budget Chief Shelley Carroll will bring the draft budget to the Board of Trade for a panel discussion on February 24.

Panellists will include Board of Trade president and CEO Carol Wilding, Parc Downsview Park Board of Directors Chair David Soknacki (Ms. Carroll’s predecessor as budget chief), and Enid Slack, Director of the Munk Centre for International Studies’ Institute on Municipal Finance and Governance at the University of Toronto.

This event is part of the Board’s ongoing VoteToronto2010.com Series where some of the most pressing issues facing our city, including fixing the city’s finances, will be discussed.

Reserve your seat now for the February 24, event with Ms. Carroll or call 416.862.4500.

Click here to view the City’s operating budget PowerPoint presentation.

Mayor Hazel McCallion rings the TSX bell on the regional economy

Yesterday, Mississauga Mayor Hazel McCallion opened trading on the Toronto Stock Exchange (TSX) on behalf of her city to mark her 89^th birthday. Mississauga is home to 730,000 residents and 55,000 businesses, including 61 Fortune 500 companies with Canadian head offices or major divisional head offices.

Now in her 11^th term as mayor of Canada’s sixth largest city, the event still marked a first for McCallion, who celebrated her birthday on February 14.

"Opening the market that makes Canada's economy tick is an honour and a new experience for me as I usually open arenas, libraries and pools," said Mayor McCallion. "Mississauga offers much to Canadian and foreign markets and we will continue to work with other cities to promote investment in the GTA."

Mayor McCallion was joined by Tom Kloet, CEO, TMX Group and Carol Wilding, President and CEO, Toronto Board of Trade. “It may seem surprising to have a mayor from outside Toronto open the TSX,” Ms. Wilding said. “But the event is a sign that Toronto is now thinking and acting like a single region made up of many municipal partners.”

Last May, Mayor McCallion co-chaired the Greater Toronto Region Economic Summit, organized in part by the Toronto Board of Trade. The Summit brought together 250 delegates from business, labour, all levels of government, academia and the voluntary sector with one goal in mind: to identify actions that would revive and strengthen the economy of the entire region.

The Summit produced more than 200 proposals ranging from short- to long-term strategies. In mid-July, Choosing our Future: An Action Plan for Economic Recovery, a 12-point plan designed to place the Toronto region on a path to economic recovery was released. This final report put forward priorities that could be put into action immediately to benefit the region and touched on five specific themes:

1. Think and act like a region
2. Build on our strength in financial services
3. Green the region’s industrial base
4. Connect people, firms and government
5. Remove barriers to accountable infrastructure spending

“The Board of Trade intends to focus on advancing these recommendations and making our region more globally competitive,” said Ms. Wilding. “I was very proud to represent our members in helping Mayor McCallion mark this important milestone.”

February 10, 2010

Budget Chief Shelley Carroll Presents Mayor Miller’s Final Budget

On February 24, one week after delivering the City of Toronto’s 2010-2011 operating budget, Budget Chief Shelley Carroll will bring the draft budget to the Toronto Board of Trade for a panel discussion.

Panelists will include Board of Trade President and CEO Carol Wilding, Parc Downsview Park Board of Directors Chair David Soknacki (Ms. Carroll’s predecessor as budget chief), and Enid Slack, Director of the Munk Centre for International Studies’ Institute on Municipal Finance and Governance at University of Toronto.

Eight months ahead of the 2010 municipal voting day on October 25, this event is the latest in the Board’s VoteToronto2010.com series.

The ongoing series will feature discussions on some of the most pressing issues the City must tackle, including Fixing the City’s Finances. In early January, Ms. Wilding started the discussion in a Toronto Star op-ed co-authored by TD Bank Financial Group Chief Economist Don Drummond, followed by Mr. Soknacki in his article later that same month.

Reserve your seat online now for the February 24, event with Budget Chief Carroll, or call 416.862.4500.

Board of Trade welcomes The Globe and Mail as its new media sponsor

The Toronto Board of Trade is pleased to announce that The Globe and Mail has joined the Board as its media sponsor. The sponsorship took effect January 1, 2010 and was announced at the Board of Trade’s 122nd Annual Dinner on January 25.

“The Board of Trade is proud to welcome The Globe and Mail as a principal sponsor,” says Ms. Wilding. “Our members turn to the Globe for its nationally recognized business section and focus on small business. It is the preferred source for the latest on business issues.” Members will now have access to the paper free of charge when visiting the Board’s Downtown Centre.

Long acknowledged as “Canada’s National Newspaper,” the Globe has recently expanded its coverage of the Toronto region. From the Inside City Hall blog to sections on Toronto’s vibrant arts, sports, entertainment and food offerings, the Globe offers a unique perspective on civic affairs and city life.

February 3, 2010

Jobs Summit for Small Business with Liberal Leader Michael Ignatieff

Liberal Party of Canada Leader Michael Ignatieff will be among the headline speakers at the upcoming Jobs Summit for Small Business at the Radisson Plaza Mississauga on February 19. The Summit is open to all Board of Trade members and small business owners.

The Summit, hosted by Mississauga-Brampton South Liberal MP Navdeep Bains, the Opposition Critic for Small Business and Tourism, will also include a panel of experts featuring Catherine Swift, President, Canadian Federation of Independent Business; Greg Smith, President, Canadian Venture Capital and Private Equity Association; and Asha Luthra, President, Indo-Canada Chamber of Commerce.

The half-day Summit will consist of two panel discussions. The first will focus on the challenges facing small business to grow and create jobs in the short term. The second will look at long-term productivity and competitiveness issues. Other questions the Summit will address include:

• What can be done to ensure that small businesses have the tools they need to continue to grow, create jobs and compete in the global marketplace?

• How should Canada position itself for the economy of tomorrow?

According to Statistics Canada, small businesses – those with 100 employees or less – make up 98 per cent of all businesses in Canada. In Toronto alone, 97 per cent of the city’s 75,000 businesses have 100 employees or less, and 55 per cent of all businesses have less than five employees.

There is no registration fee for the Summit, but seating is limited. Reserve your seat now by emailing bainsn@parl.gc.ca, or call 905.795.5220.

Monetizing city assets: can Toronto take Chicago’s lead?

The possible sale of City-owned assets has become one of the hottest issues in the 2010 municipal election. Three high-profile candidates have already endorsed the idea as a means of boosting City revenues. It’s a model that has proven successful in Chicago, a city Toronto is often measured against.

George Smitherman supports the idea in principle, saying the City “should be strategic about what we own.” Deputy mayor Joe Pantalone proposes selling enWave, the city’s deep-lake-water cooling utility. Rocco Rossi promises to put Toronto Hydro up for bids and to “review every other asset in City hands, and if they don’t measure up they’ll go on the block as well.”

On February 11, Chicago’s former Chief Financial Officer Dana Levenson will take to the Board of Trade podium to share his insight and experience with the successful monetization of municipally owned assets. During his tenure, Levenson led the city through major infrastructure expansion by introducing innovative financing mechanisms.

“With Toronto under growing financial pressures, the City must consider all policy alternatives to remedy this issue,” says Richard Joy, the Board of Trade’s Vice President of Policy and Government Relations. “Chicago’s experience provides the business community, mayoral candidates and all Torontonians with an excellent learning opportunity.”

Now the North American Managing Director for the Royal Bank of Scotland, Mr. Levenson oversaw the 99-year lease of the Chicago Skyway to foreign investors for $1.8 billion in 2005. He also shepherded the sale of a portfolio of municipal parking lots to Morgan Stanley for $563 million the following year and the leasing of the City’s parking meter system in 2008 to a fund managed by Morgan Stanley in a 75-year, $1.16 billion deal.

Find out more about the lessons Toronto can absorb from Chicago. Reserve your seat online now for this timely event, or call 416.862.4500.

January 27, 2010

Toronto “needs its swagger back,” McKenna tells crowd at Board’s 122nd Annual Dinner

In a rousing speech to over 1,200 business and government leaders at the Toronto Board of Trade’s 122nd Annual Dinner last Monday night, TD Bank Financial Group Deputy Chair Frank McKenna said that Toronto “is taken for granted by those who live here” and that “this city needs to get its swagger back.”

Calling out a long list of Toronto’s accomplishments – from its cultural institutions to its festivals to its world-leading businesses – Mr. McKenna argued that Toronto’s biggest problem is the complacency that comes from success. “Things are good in Toronto, and when things are good it’s hard to create a sense of urgency,” he said.

Mr. McKenna concluded his 30 minute firebrand speech with three recommendations for Toronto: become known as a knowledge centre; improve productivity; and relieve the transportation backlog. He urged all Torontonians – not just politicians or the business community – to take the lead in getting the job done and to “be ambassadors for this city.”

The Annual Dinner was hosted by business journalist Amanda Lang, CBC’s Senior Business Correspondent and host of The Lang and O’Leary Exchange.

Before dinner, Federal Transport Minister John Baird, Ontario Premier Dalton McGuinty and Toronto Mayor David Miller each brought greetings from their respective governments. Premier McGuinty announced the return of the JUNO Awards to Toronto in 2011 after a decade-long absence.

Board of Trade President and CEO Carol Wilding announced the launch of www.votetoronto2010.com, the leading new online forum for debate and discussion on policy issues leading up to the 2010 municipal election. As Ms. Wilding told guests, the interactive website aims “to spark non-partisan debate on the challenges facing Toronto and offer the solutions required to address them.”

The gala also included world-class entertainment courtesy of Toronto’s own Opera Atelier. The much loved performing arts company dazzled guests throughout the evening, performing selections from their recent effort, Iphigénie en tauride, and a special preview of their upcoming production of The Marriage of Figaro.

Thank you to all the Board of Trade members who attended and especially to our gala sponsors whose invaluable support made the 122nd Annual Dinner a spectacular and unforgettable evening.

Download the full text of Frank McKenna's speech at the 122nd Annual Dinner.

Watch for more photos and complete coverage of Frank McKenna’s keynote in the next issue of On Board magazine.

Take the Six Words for Toronto Challenge

To coincide with the launch of VoteToronto2010.com, the Board of Trade is challenging all Torontonians to share their vision, ambition or inspiration for this great city, but to keep it short. How short? Six words or less, please.

A lot can be said in six words. And your entry can be as broad (“The world, together, in one place”) or as specific (“No more potholes on my street”) as you like. Or you can wish for the one thing that eludes our city’s grasp (“Maple Leafs win the Stanley Cup!”).

All Board of Trade members have been pre-registered for VoteToronto2010.com with a username and password. Please check your email for login details. If you have not received your login information, visit VoteToronto2010.com and register now.

The Six Words for Toronto Challenge was officially launched at the Board of Trade’s Annual Dinner on January 25. Already people have been logging on to the site to share their three words. Among the more entertaining entries thus far: “No more garbage strikes ever!” and “Exciting, safe, clean, brilliant, responsible, memorable!”

Six Words for Toronto is part of the Board of Trade’s year-long VoteToronto2010.com campaign leading up to the October 25, municipal election. The site aims to raise awareness about the upcoming municipal election, including the most pressing issues facing our city and what the candidates stand for. The site also encourages informed participation in the electoral process by Toronto voters and all residents of the Toronto region.

Serious or funny, inspirational or aspiring, join fellow members and Torontonians by sharing your Six Words for Toronto now.

January 20, 2010

First Nations Chief Shawn Atleo calls on businesses to collaborate

Assembly of First Nations (AFN) National Chief Shawn A-in-chut Atleo told Board of Trade members yesterday that 2010 would be a “year of action” for Canada’s aboriginal business community.

Speaking to a sold-out room of over 250 business and aboriginal leaders at the Board of Trade’s Downtown Centre, National Chief Atleo’s speech marked his first address in Toronto since his election in July. It also marked the first time any AFN National Chief has addressed the Toronto Board of Trade.

Chief Atleo called on the business community for greater collaboration in fostering environmental conservation and in cultivating economic self-sufficiency for aboriginal communities. He also pointed to the need for educating the aboriginal population, over 50% of which is under the age of 25. “With your support,” Chief Atleo said, “I am confident we can achieve the collaborative objectives set out by the Elders in the original treaties.”

National Chief Atleo also reflected on the economic development that has already begun to take shape thanks to the Government of Ontario’s Green Energy Act. Chief Donna Big Canoe of The Chippewas of Georgina Island, for example, has initiated development of a 20-megawatt wind farm, which will bring power to 7,500 homes and create jobs.

“The Toronto business community offers great partnership opportunities for the First Nations business community,” said National Chief Atleo, while speaking with reporters after the event. “This engagement with the First Nations will allow aboriginal entrepreneurs to flourish.”

Clint Davis, President and CEO of the Canadian Council for Aboriginal Business, was on hand to introduce the National Chief. Mr. Davis revealed that Canada’s largest First Nations urban population is right here in Toronto.

Click the links below for samples of newspaper coverage from the Board’s event with National Chief Shawn A-in-chut Atleo.

First Nations, CEOs signal new era
by Tara Perkins, The Globe and Mail

Chief in Board of Trade first
by Emily Mathieu, Toronto Star

AFN chief says natives 'open for business'
by Adam McDowell, Post

Opera Atelier set to dazzle guests at Annual Dinner

With the 122nd Annual Dinner just days away, guests are looking forward to a spectacular evening of networking, inspiration and entertainment, including a highly anticipated performance from Toronto’s own Opera Atelier.

The world-renowned performing arts company will perform for guests throughout the evening. The pinnacle performance will be a selection from the company’s production of The Marriage of Figaro.

For over two decades, Opera Atelier has produced opera, ballet and drama from the 17th and 18th centuries. Their productions are bold, memorable experiences that have left their mark on audiences from Toronto to New York to Singapore.

Last October, Board of Trade members enjoyed an exclusive and interactive first look at Opera Atelier’s revival of Christoph Willibald Gluck’s Iphigénie en Tauride, as part of the Board’s new Commerce & Culture Series. Attendees had the opportunity to view costumes from the production and to hear inside views from co-artisitic director Marshall Pynkoski, musical director David Fallis and set designer Gerard Gauci. Guests were also treated to performances by renowned singers and dancers from the show’s cast.

The Annual Dinner promises to be an exciting evening, marking the first business gala on Toronto’s 2010 calendar. The gala will be hosted by renowned business journalist Amanda Lang, CBC’s Senior Business Correspondent and host of The Lang and O’Leary Exchange. Guests will also hear from Premier Dalton McGuinty, Federal Transport Minister John Baird and Mayor David Miller. The highlight of the evening will be a highly anticipated keynote address from legendary Canadian Frank McKenna.

Just a few tickets remain for the 122nd Annual Dinner, Monday, January 25, at the Metro Toronto Convention Centre. Don’t miss your opportunity to connect with 1,500 fellow business influencers and city builders at the city’s premier business gala.

Reserve your seat online now, or call 416.862.4500.

January 13, 2010

Join Ontario’s Premier and Toronto’s Mayor at Board of Trade Annual Dinner

Tickets for the Board of Trade’s Annual Dinner are now 95% sold out. The Board is thrilled to announce that Ontario Premier Dalton McGuinty and Toronto Mayor David Miller will be at the podium to deliver greetings from their respective governments on January 25.

Last spring Board of Trade President and CEO Carol Wilding called Premier McGuinty’s $9 billion transit commitment a “crucial leap forward in the implementation of Metrolinx’s $50-billion plan.” At the Annual Dinner Premier McGuinty will address the important relationship between his government and the province’s largest business community.

Mayor Miller last year presided over the creation of Invest Toronto and Build Toronto, and the opening of the first new downtown office tower in nearly two decades. The Board is pleased to have Mayor Miller address guests at what will be his last Annual Dinner as mayor.

The Premier and Mayor will join many other dignitaries to hear a highly anticipated keynote address from legendary Canadian Frank McKenna, Deputy Chairman, TD Bank Financial Group.

The Board’s 122nd Annual Dinner is your opportunity to connect with 1,500 fellow business influencers and city builders and to hear from Canada’s political and business elite. The Annual Dinner takes place Monday, January 25 at the Metro Toronto Convention Centre on Monday. Take your seat at the table now!

Reserve your seat online now, or call 416.862.4500.

DAVE Wireless addresses the wireless industry head-on

Data & Audio Visual Enterprises Wireless Inc., more commonly known as DAVE Wireless, promises to offer Canadian wireless consumers “simplicity and flexibility” when it launches in early 2010. In his first public presentation since taking the helm, DAVE Wireless president and Board of Trade member Dave Dobbin will give fellow members an inside look at the new wireless carrier.

Part of the KPMG Technology Series, Mr. Dobbin will share his views on competition, the state of the Canadian wireless market and what's next for DAVE Wireless.

Like many great leaders, Mr. Dobbin started small. He began his career as founder of a retail telecommunication retail chain with locations across Western Canada. The chain grew to be the largest distributor of TELUS products and services in the country.

Recently named one of Canada's Top 40 under 40, Mr. Dobbin is an active member of the Toronto region’s communications and technology community. He was the founding chair of the Board of Trade's Information and Communications Technology Committee and currently sits on the Legal and Regulatory committee of the Information Technology Association of Canada. He also serves on the board of the United Telecom Council in Washington, D.C.

The KPMG Technology Series is a special program of events showcasing the strength and opportunities in Toronto’s Information and Communications Technology sector. The series brings together industry executives and professionals to network with peers and hear insights and success stories from industry leaders.

Dave Dobbin will headline the next KPMG Technology Series Breakfast on February 2, 2010.

Reserve your seat online now, or call 416.862.4500

January 6, 2010

CBC’s Amanda Lang returns to host 122nd Annual Dinner

The Board of Trade’s 122nd Annual Dinner is less than three weeks away, and anticipation is building around the first gala on Toronto’s 2010 calendar. The Board is delighted to announce that Amanda Lang, CBC’s senior business correspondent and co-host of the new Newsworld business show The Lang and O’Leary Exchange, joins us once again as master of ceremonies for the evening.

A highly respected Canadian business journalist, Ms. Lang is the former co-anchor of BNN’s SqueezePlay and The Commodities Report, national programs covering business and politics. She is also a former contributor for Canada’s premier business magazine, Report on Business, where she profiled the passions of the nation’s business elite. Ms. Lang comments regularly on current business news and trends and is a close observer of North America’s political scene. Her insightful commentary and quick wit were highlights of the Board’s 121st Annual Dinner in January 2009.

Ms. Lang rounds out an exciting evening, highlighted by a much-anticipated keynote address from legendary Canadian business and political leader Frank McKenna. Mr. McKenna is currently the Deputy Chairman, TD Bank Financial Group, and was recently named “the city’s most influential man” by Toronto Life magazine.

Don’t miss your chance to kick start the New Year by joining 1,500 fellow business influencers, policy makers and city builders for Toronto’s premier business gala. The 122nd Annual Dinner takes place Monday, January 25, at the Metro Toronto Convention Centre.

Tickets are selling fast! Reserve your seat online now, or call 416.862.4500.

Toronto’s civic champions share 10 fresh ideas for 2010

To usher in the New Year, CTV Toronto asked some of the city’s top thinkers, including the Board of Trade’s president and CEO Carol Wilding, to share their ideas on how to revitalize Toronto in 2010. For Ms. Wilding, civic engagement and business pride topped the list.

“Next October, Torontonians will elect a new mayor. And yet, typically, only 4 of every 10 Torontonians bothers to cast a ballot,” said Ms. Wilding. “We all have ideas to make this great city even better. The best way to turn those ideas into action is to exercise our democratic rights at the polls and vote for the candidates who stand for a better, more prosperous Toronto.”

To push this idea forward, the Board of Trade has undertaken a bold campaign to drive vigorous debate and greater participation in the 2010 municipal election. Launched in November 2009, VoteToronto2010.com is an innovative, year-long, non-partisan campaign that is defining the most pressing election issues, fostering dialogue and mobilizing all citizens to take part in a civic process that will shape our future.

Ms. Wilding also encourages members of the business community to take pride in our position of global strength, particularly when the international spotlight shines on Toronto at the G20 Summit this June.

“Toronto is a world leader in financial services, information technology and cultural industries – yet the city is still not world-renowned,” Ms. Wilding said. “Those two days in the global spotlight are Toronto's chance to show the world's economic leaders what this city can do - and to burnish our global reputation as one of the world's leading cities for business.”

Other city-building ideas included Mayor David Miller’s push for expanded public transit and a call from David Whitaker, President and CEO of Tourism Toronto, to embrace diversity as an asset for drawing more international visitors to the city. Read the full Top Thinkers: 10 fresh ideas for Toronto in 2010 list here.

What’s your vision for our City? Share your vision here and download our discussion paper Vote Toronto 2010: Framework for a Better City now.

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