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February 9, 2025  by

MEDIA: CBC News Network Weekend Business Panel (February, 2025)

Pleased to join the CBC News Network Weekend Business Panel, alongside Elmer Kim and Marianne Dimain, talking Trump tariff threats and the future of Canada Post; you can watch our segment here.

This week’s Business Advisor Highlight:

Emotions are understandably running high, as it goes without saying: Canada is nobody’s state.  Regardless of what actions are taken by the US, Canadians must take immediate steps to strengthen the position of our country.  This includes diversifying Canada’s global trade relationships and making it easier for Canadian companies to do business both globally and across the country.  While ideas are a helpful starting point, it is critical that the implementation aspect be well designed, recognizing that Canadian businesses require capital and practical advice to successfully develop and execute growth strategies.

One of the best realities about Trump’s threats is that everyone in Canada can play a role in the response, including all levels of government, businesses, and consumers.  Canada is and will always be stronger together, so let’s step up and proudly support our great country!

Thanks for watching and see you again soon.

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September 15, 2024  by

MEDIA: CBC News Network Weekend Business Panel (September, 2024)

Pleased to join the CBC News Network Weekend Business Panel, alongside Sherena Hussain and Marianne Dimain, talking Air Canada’s labour dispute, the ongoing housing market slump, and new cashier kiosks at McDonald’s.  You can watch our segment here.

This week’s Business Advisor Highlight:

In a competitive marketplace, businesses must be able to attract and retain customers on an ongoing basis, otherwise, the company’s future is at risk; this simple fact is obvious to anyone with business experience.  Contrast this reality for most businesses, with Canada’s air travel industry, that is dominated by a small number of large companies (Air Canada and Westjet, in particular).  Service disruptions and shutdowns that arise from labour disputes impact the customer more than anyone, as they are not directly involved in the dispute, but are inconvenienced by it the most, as carefully made travel plans going out the window, with what seems to be little concern from either the company or the labour group.  Anyone who has been in this situation is familiar with the uncertainty, challenges, frustration, and costs that tend to arise, with little meaningful assistance available (and if any recognition of the significant negative impact on customers is given, it tends to come across as insincere, at best).

The irony is that it is the customer who effectively pays the salaries or both staff and management, by way of the flights that they purchase; too bad that there seems to be so little given in return to get to a solution in times like these.

Thanks for watching; enjoy these last few days of Summer weather!

Footnote:  The impending labour dispute at Air Canada was reported as a tentative agreement having been reached by the end of the day when our segment aired.

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August 26, 2024  by

Celebrating 7 Years on the CBC News Network Weekend Business Panel (August, 2024)

Extremely grateful to celebrate seven years on the CBC News Network Weekend Business Panel; there is nothing like live TV!  It started with two and a half years of appearances on set in CBC’s flagship studio, followed by a longer period of remote work, covering a wide range of business stories.  Below is a sample of topics where I have provided commentary over the past seven years (over 130 lines and counting!), all of it live:

Stories of particular interest to me are those that can bring in a range of factors, such as demographics, changing consumer preferences, global business trends, and even the political landscape.  Thanks for watching; it is a privilege to bring the news to you!

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August 19, 2024  by

MEDIA: CBC News Network Weekend Business Panel (August, 2024)

Pleased to join the CBC News Network Weekend Business Panel, alongside Elmer Kim and Marianne Dimain talking Canada Jetlines stops flying, growth in Canadian housing starts, and the membership crackdown at Costco.  You can watch our segment here.

This week’s Business Advisor Highlight:

I’ve seen many situations where entrepreneurs and potential business leaders are keen to get their new venture up and running.  Although this type of excitement is understandable, they tend to underestimate the problems that are likely to occur after launch, with some of these being issues that were identified in the planning stage, but not resolved, while others are challenges that might not have been anticipated.  Either way, problems that occur during operations cost “real money”, while those identified in the planning stage occur “on paper”.  This is why it is so critical to delay launch until these issues have been resolved.

Starting a company with insufficient capital is likely to result in strained operations, including cashflow problems and the inability to operate; this does little to raise confidence in the marketplace, something that is of critical importance to new ventures.  It is difficult enough to operate a company during periods of insufficient capital, much less a growing business, as growth requires money for various reasons.  The tip?  Keep the company parked in the planning stage until such time that critical issues are resolved.

Thanks for watching, and see you again soon!

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July 11, 2024  by

MEDIA: CBC News Network Weekend Business Panel (June, 2024)

Throwback to a breaking news edition of the CBC News Network Weekend Business Panel, alongside Sherena Hussain and Marianne Dimain talking the Westjet strike; you can watch our segment here.

This week’s Business Advisor Highlight:

Customers should not be impacted by a company’s internal matters, such as managing its staff group; the fact that this strike occurred on a long weekend at the end of the school year makes it obvious that vacationers and families were likely the most hurt by the hundreds of cancelled flights and chaos that resulted from this work stoppage.

Leaders are responsible for managing numerous stakeholder relationships, which need to be addressed on a proactive and ongoing basis; this applies to both Westjet and the union, and collective bargaining should also be done in good faith.  In a competitive business marketplace, customers that are treated poorly and not valued have the opportunity to take their business elsewhere, however, given that lack of competition in the Canadian air travel sector, they are too often relegated to a ”bit player” role in a company/union saga; this is unacceptable.

Customer loyalty should never be taken for granted, and their money has a direct impact to funding a company’s payroll.  Staff members are obviously an important component of any business, but in the absence of a loyal customer base, companies don’t need staff, as they typically are not sustainable entities.  In this scenario of limited competition, air travelers are left to keep their options open and transact with the business that serves them best, on a case by case basis, which is, effectively, the opposite of loyalty.

Thanks for watching!

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July 8, 2024  by

MEDIA: CBC News Network Weekend Business Panel (July, 2024)

Pleased to join the CBC News Network Weekend Business Panel, alongside Jeanhy Shim and Marianne Dimain talking Hudson Bay Co’s deal to purchase luxury retailer Neiman Marcus, home sales plummeting, and the abundance of vacant downtown office space.   You can watch our segment here.

This week’s Business Advisor Highlight:

One of the typical statements that is made when a merger or acquisition occurs is the expectation that “synergies” will be realized; these are often touted as being “significant”.  Types of synergies may include decreasing staffing levels, office or warehouse space, and combining technology systems.  It is important to remember that synergies are theoretical until they are achieved, and doing so is typically a difficult and lengthy process.

Those with significant implementation experience know the many pitfalls of achieving synergies, including:

  • System and information requirements that do not combine well, service providers who cannot get the job done, user backlash, and excuses (so many excuses);
  • The challenges of downsizing staff groups, often fraught with meddling from senior managers and executives, in terms of who should depart and who should stay (i.e., “not my people; those people over there should go”, etc.); and
  • Redundant space that is leased or owned, which takes time to divest.

This scenario can go on for years, while costs continue to be incurred, and it is not uncommon for synergies to not be realized at all.  When this happens, “duplication” results, an expensive, if not fatal, outcome.  Time will tell if the intended synergies can be realized in this particular situation.

Thanks for watching!

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May 6, 2024  by

MEDIA: CBC News Network Weekend Business Panel (May, 2024)

Pleased to join the CBC News Network Weekend Business Panel alongside Mark Warner and Linda Ward, talking the Loblaws grocery boycott, London Drugs cyberattack, and ride-hailing startup, Hovr; you can watch our segment here.

This week’s Business Advisor Highlight:

A key aspect of holding a senior executive role is solving problems, not only within the company, but also more broadly; this could include working with external parties, such as government, regulators, and competitors.  Consumers have faced high grocery prices for years and this story has been reported from a number of aspects.  This is coupled with reporting on significant grocery retailer profits and CEO compensation increase requests, as well as the impact of supply chain challenges and rising labour costs.

There is an opportunity to find solutions around high grocery costs and to communicate with consumers about strategies that are being undertaken, in a transparent and proactive manner.  Instead of reactive pushback and criticism of initiatives, such as a Grocery Code of Conduct, executives should be working collaboratively to develop what is possible; this requires leadership.

Thank you for watching!

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March 4, 2024  by

MEDIA: CBC News Network Weekend Business Panel (March, 2024)

Pleased to join the CBC News Network Weekend Business Panel alongside Mark Warner and Linda Ward, talking The Body Shop’s store closures, the Wendy’s surge pricing controversy, and questions around the fairness of Cineplex online booking fees.  You can watch our segment here and the Weekend Business Panel on Saturday mornings at around 10:15 AM ET on CBC News Network.

This week’s Business Advisor Highlight (it’s a simple one):

CEO’s and senior executives need to remember to be very careful about what they say, especially in a public venue, as they are viewed to be speaking on behalf of the company.  In the case of Wendy’s CEO, comments and content on a presentation slide resulted in lots of media attention, in terms of the potential use of dynamic pricing to increase prices when restaurant traffic peaks.  Although this issue was clarified in a media release after the fact, being careful with wording and considering how it could be construed would have avoided this controversy.

I recall reading a study years ago that debunked the myth that CEO’s and business leaders can “do whatever they want”, by stating that research indicated the opposite; that business leaders typically exhibit lower levels of risky behaviour in relation to the decisions that they make, because there is more at stake.  This is analogous to the idea that behaviour becomes less risky, as the job held increases in seniority.  I have never forgotten this concept, and it is a good reminder, despite the fact that we see what can only be described as billionaire business leader bad behaviour on a fairly regular basis.

Thanks for watching!

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February 11, 2024  by

MEDIA: CBC News Network Weekend Business Panel (February, 2024)

It’s Super Bowl Weekend on the CBC News Network Weekend Business Panel, alongside Jeanhy Shim, Christian Bravo, and Marianne Dimain talking another round of layoffs at Bell Media, Google’s AI chatbot, Gemini, coming to Canada, and, of course, those commercials that Canadians won’t be seeing during the big game on Sunday.  You can watch the Weekend Business Panel on Saturday mornings at around 10:15 AM ET on CBC News Network.

This week’s Business Advisor Highlight:

The importance of the female consumer demographic has long been known as highly lucrative, in that women have significant influence in a wide range of buying decisions, including in the areas of housing, vehicles, travel, consumer goods, groceries, anything and everything related to children, and more.  Not only do women have significant influence in this regard within a family unit, single women are also a very powerful demographic.  Over the years, numerous consumer research studies have reported these findings.

Which makes it more than a little ironic that it took a well known celebrity attending a handful of football games for some brands to decide to advertise during the Super Bowl (you guessed it), targeting women.  This, in concert with obvious efforts on the part of the NFL and its broadcast partners to utilize Taylor Swift’s attendance to increase viewership numbers (anyone who has watched sports for a long period of time will understand why this is so evident).

Millions of women have watched football for decades (myself included), however, it took the attendance of one popular female celebrity for this large audience to be of relevance.  Really?  And, yes, women do buy more than makeup!

Brands need to ensure that they understand their target market, in various respects, including size, trends, and the key aspects of decision making and influence in order to develop strategies to reach potential consumers.  From what we’ve seen here, it appears that the lucrative female football-viewing market has been poorly recognized until now.

Thanks for watching, and see you next time!

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January 15, 2024  by

MEDIA: CBC News Network Weekend Business Panel (January, 2024)

Pleased to join the CBC News Network Weekend Business Panel, alongside Mark Warner and Marianne Dimain, talking the CEBA repayment deadline, Hertz selling one-third of its EV fleet, and the SEC’s bitcoin decision; you can watch our segment here.

New year, new approach!  Going forward, my blog posts on media appearances will feature one “business advisor highlight” related to our discussion.  For this segment, the highlight is something that is straightforward, but very important:

If you’ve never run a small business or been in business for yourself, chances are, it is much more difficult than you realize.  Although some might be wondering why some small businesses are not currently in a position to repay their CEBA loan, it is important to recognize that many are facing a “snowball” effect of inflation, high interest rates, supply problems, and an ongoing tight labour market.  These factors combine to make generating revenue (and cashflow) much more difficult, which means that money simply doesn’t go as far as it used to.  When small businesses can no longer afford to operate, jobs are lost, which has a tangible impact to the local community.  When closures accumulate, the economic and employment impacts can be very significant.

Thanks for watching!

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