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The tragic news of Jim Wright’s death makes it difficult for us to focus on topics for this week. Of all his many accomplishments and services to the community, we particularly admired his dedication to the Sauvé Scholars and can only guess at the enormous void that is left in the hearts of those outstanding young people from around the world whom he and Nancy guided, befriended and welcomed into their home and lives.
This sad event reminds us once again of the power of the individual to influence those around him or her and thus effect lasting change. Last week, we spoke briefly of the role of religion in creating conflict, and in contrast, the good work carried out among the orphans of Africa by the non-denominational Christian organizers of the Orphans’ Choirs. We neglected to emphasize the subtle and vital role played by the hundreds - perhaps thousands - of volunteers who lovingly accept the touring children into their homes, giving them a unique view and understanding of the community they visit. Personal contacts such as these coupled with the labours of those who selflessly work in distant communities to improve the lot of individuals or villages are the true key to achieving peace and harmonious development, - not the earnest pronouncements and frequently self-aggrandizing posturing of world leaders.
At the end of last week’s sombre discussion of greed, the new financial order and outlook for world markets, a young guest asked if the evening’s gurus could offer some final note of hope for the next generation. Speaking for all, Tony Deutsch replied that the wide-eyed enthusiasm, idealism tempered with a certain sense of reality, and desire to accomplish change that is so evident in her generation will serve them and the world well. We would add only their early understanding and respect for one another’s cultures and viewpoints, which in no small measure has come from models like Jim Wright.
This week we are very pleased to welcome Malcolm (Mac) Mercer back into the fold from Owen Sound, and his son Craig for a first visit. We can look forward to more frequent visits from Mac & Elaine now that Craig has moved back to Montreal. Craig, having completed a Masters in Sport Management at Bond University in Queensland, is opening his new company Gestion Sportif Orize Inc ( Orize Sport Management Inc) which offers services including player development, player management and event management. The major focus is tennis, with programs in squash, badminton, and ice sports as well. On behalf of Wednesday Night, we have offered whatever help we can, and understand that the first item on the agenda may be to find Craig a francophone communications student who would be interested in an internship.
Although still not decided, the agenda for the evening will be its usual eclectic mix of world events about which we can do little, and local events about which we can do more.
We look forward to your company.
Diana & David Nicholson
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Sunday 02 September 2007 CALGARY: FM AGAIN INSISTS ON SINGLE SECURITIES REGULATOR goto pengrowth.com/ then Go to webcast multimedia under Index
Monday 04 December 2006 Pengrowth Energy Trust Announces Extension of Its Offer to Purchase Outstanding Convertible Debentures
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Canadian Finance Minister Jim Flaherty has again demanded that the provinces and territories accept the need for a single securities regulator. In a speech to the Canada West Foundation, he said one is needed to improve Canada's international reputation which at present is poor with respect to securities enforcement. The minister noted that with 13 different jurisdictions there is little co-ordination and sharing of information. Canada has historically had a poor record in identifying and prosecuting cases of white collar crime. In one of the few such cases to have reached court, former Bre-X vice-chairman John Felderhof recently was acquitted in the biggest stock market fraud in Canadian history, investors having been fleeced out of $6 billion. Mr. Flaherty says the reality is that 85 per cent of Canadian securities are regulated by the Ontario Securities Commission and the TSX and joining a single regulator would give the other jurisdictions a say in that regulation.
Stephen S. Poloz VP EDC Economics Weekly Commentary
Positive Profit Picture Hides Underlying Stresses - September 5, 2007
Although economists examine a complex array of statistics when assessing the health of an economy, nothing says more than the underlying profitability of its companies. Good profits are generally associated with secure jobs, higher investment spending and good tax revenues.
Overall, Canada’s profit picture looks very positive. The latest data (2007Q2), show an aggregate profit margin of 8.3%. This is down very slightly from 8.5% in the first quarter, but the important point is that total profitability has been above 8% for the last nine quarters in a row. Past issues | his WN page
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