It’s not necessarily what you say but when you say it.  This came to mind to when reading an article in the Globe and Mail this morning.  The headline read, “Jim Flaherty on home sales dive: I don’t mind prices coming down a bit, too”.  Was this remark simply off the cuff?  Or was it a comment made by someone who has decided it is time to pursue other career paths, therefore, being candid will have no political ramifications?  I got to thinking about that because the other half of the economic dynamic duo has already decided to bolt.  Mark Carney (not sure who’s Batman or Robin in this working relationship) has been making bold and provocative statements for the past 24 months.  Was that a result of Carney becoming enamored with his own press clippings or has he known for some time now that he would be perusing greener and more lucrative pastures?  Clearly there’s only one person who can answer that but it does leave one wondering if the level of candidness was a result of an impending departure.

So what to make of Flaherty’s statement that he wouldn’t mind if home prices come down a bit?  Now there’s a future campaign slogan.  Out on the campaign trail, pumping flesh, kissing babies and reminding voters that’s okay if the equity in your home has been eroded.  Logic and experience tells us that politicians have an outside and inside voice.  Outside voice: “NO NEW TAXES”.  Inside voice: “VOTE FOR ME MY LITTLE LEMMINGS”.  Flaherty is not a nephrite when it comes to making public comments.  He’s been doing this for too long to know what will and will not stick to him.  Politically, making a comment like “I don’t mind prices coming down” doesn’t make a lot a sense; so, is this frankness a sign that he may be moving on?  If it is, who could blame him?  He’s done an admirable job during uncertain times.  He’s been in this role for some time now, and navigating the Canadian economy since the economic crisis couldn’t have been a lot of fun.  The daily pressure and issues he faces would leave most curdled up in the fetal position, sucking their thumbs and calling for their mommies.  Okay, maybe that’s just me.  Jim Flaherty has done a great service for this country, and if he’s decided that now is the time for him to cash it in, we should all volunteer to give him a ride to the bank.

As for the most recent housing data in the Globe article, “Alex, I’ll take No #%&@ for $200, please”.  The net result is exactly what the government wanted.  The good news – the number of listings are down.  There’s balance between supply and demand, and we have low interest rates and solid employment numbers.  There’s a new norm we will all have to adapt too, and nothing suggests Armageddon is on the way.  Now if we could only get public officials to lower the decibel levels, a bit, we’ll be just fine, thank you.

Until next time,

Cheers.

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The sports world was a buzz yesterday with the announcement that Brian Burke (President and General Manager of the Toronto Maple Leafs) was told that his services would no longer be required.  As often is the case in these situations; code is used when making the public announcement.   At a press conference yesterday President of Maple Leaf Sports & Entertainment, Tom Ansell said the following “Brian will not have direct authority over hockey operations…We want to thank Brian for accepting his new role and staying on with our organization.“  That new role is place holder for Mr. Burke to give him time to work on his transition.  The fact of the matter is that Mr. Burke was terminated, fired, gassed, punted or any other such term that is used by all of us to describe what REALLY happened.  It doesn’t matter where your name is slotted on an org chart, being terminated is a devastating process.  Being terminated is something employees take personally.  And on termination the employee is being told that the organization is best suited to go forward without them.  How can than not be personal?  Now throw in the fact that it’s all taking place in the public eye, now that’s tough.

It’s easy to say that the public aspect of termination comes with the territory; absolutely, but there is a human element to it.  Regrettably people forget or just don’t care.  I was listening to an all-sports radio station on the way home last night and one caller into the station said, “I was praying for this to happen.”  Really?  With all things going on in the world this is what the idiot caller picked to pray for?  Ignorance aside, you can’t help but wince when someone goes through something like this in the public domain.  I feel for Mr. Burke but there’s a lesson here.  I don’t believe his termination was necessarily performance based; if it was, why now?  I think this decision was based on style versus substance.  It’s also a case of personal principals trumping corporate objectives; therein lays the challenge.  Effective leaders depend on their intuitive skills and internal compass.  But there’s a balance, and the question becomes when do you put your principals aside for the greater good?  Sometimes shareholders, the board or even employees may suggest the path chosen by the leader may not be the right one.  But ultimately the leader will decide if he/she is willing to risk their employment over principal.  As romantic as it may sound that you will never compromise your own principals, there’s the issue of pragmatism.  Is it worth winning the battle only to lose the war?

Termination is never easy.  I struggle with having to do it.  It’s a duty and responsibility that I have, and I will execute it.  But I can assure you that it’s caused me many sleepless nights.  Over the years I’ve come to accept the fact that I will never be able to truly separate the personal from the business when terminating someone.  I know that it is no consolation for the person being terminated but if there ever comes a day where I don’t consider the personal element of a termination…it’s the day I will not be able to look at myself in the mirror.

Until next time,

Cheers.

“The only thing that is constant is change.”

Welcome back all and I hope you all enjoyed the Christmas season.  I know that may be somewhat politically incorrect to evoke Christ’s name during and after the holiday season.  Here’s my view on that, oh well.  I celebrate Christmas and if I say Merry Christmas, and someone responds by saying Happy  Hanukkah or Happy Big Bang Theory Day, I won’t be offended.  So let’s dispense with political correctness of Christmas past and focus on the future.

Things to look for in 2013?
As a start who will be in charge at the Bank of Canada.  Mark Carney’s reign is coming to end by mid-year so it will be interesting to see who his replacement will be; someone with “star power”?  Or a bureaucrat who goes about his business in the shadows?  The Globe is reporting that the Finance Department is not saddened about Carney’s departure.   According to the Globe, “Though the finance minister has worked closely with Carney and had helped catapult him into the exalted job of central bank chief in 2007, the once-tight relationship deteriorated in the following years as Carney’s star power threatened to leave Ottawa’s political class in the shadows, sources said“.  How juicy, how Entertainment Tonight.  I can see how Minister Flaherty might have been a little perturbed.  The Minister is an elected official whom the voters can turn on if things don’t go according to plan.  On the other hand the head of the Bank of Canada takes no political risk and benefits from a bigger payday in another country. 

Another thing I will be watching for is the treatment of CMHC in the press. When and why did it become fashionable to treat CMHC like a Pinnate?  I get it, when you get big enough you take your blows deserved or not.  When you’re big enough you become a lightning rod (for illustration look to the dominant technology provider in the broker space, as well as the National Association).  But CMHC has been around since 1946, dedicated to home ownership in Canada, and yet now the scope of their responsibility is being questioned in the press.  By appearance this looks to be a case of fixing something that isn’t broken.   Or it could simply be a case of CMHC running up against powerful enemies who whisper sweet nothings into the ears of the press?

Of course we’ll all be watching for signs that economies, be it ours or around the world, are starting start to garner some momentum. Then again that’s old news, that watch began in 2008.  I have no doubt that 2013 will be another interesting year for all of us.  The only thing that is constant is change.

Until next time,

Cheers.

I would like to extend a very Merry Christmas and Happy Hanukkah to you and your family.  This is the time of year to reflect on how fortunate we are, and  to spend time with family.  That’s exactly what I’ll be doing over the next few weeks.  It’s been an extraordinarily busy year and in some ways I wish I could invent a few extra months and add it to 2012 so I can milk it for all I can.   Alas, not possible so it’s time to focus on 2013, and that’s when I’ll start blogging again.

To all of you who take the time to read my blog, I can’t tell you how humbled I am that you would do so.  I hope in some small way I was able to inform, possibly entertain but more importantly connect.  Thank you so much, and here’s to a great 2013.

I leave you with what I believe are two classic Christmas songs.  I never get tired listening to them.

It plays an important role for many in our society.  I bristle at those who condemn people of faith because “science” can’t prove the existence of what they believe in.  Of course I’m not referring to people who bastardize or prostitute their faith in the name of war or violence.  The people who do this are nothing more than charlatans and con artists, irrespective of religious doctrine.  I have great respect for people who frequent their house of worship, and truly feel better for doing so.  The fact they feel spiritually uplifted is reason to applaud them.  If faith causes people to treat each other with respect, kindness and human decency, then these people should be admired and not mocked.

There’s also another kind of faith, our faith in mankind.  Regrettably our faith in mankind is being tested with far too much regularity.  Our faith was tested, yet again, when evil visited Sandy Hook Elementary School, in Newport Connecticut.  I have no idea how to categorize the actions of the mass murder other than pure evil.  The killing of innocent babies leads me to set aside reasoning or any form of rationale.  Gun laws will be debated, as will mental health treatment, but in my mind clinical terms cannot be used to describe the actions of the cold blooded murderer at Sandy Hook Elementary School.  He possessed a human shell but he was devoid of humanity.

As shocking as the barbaric act was, I’m equally shocked at how compassionate and forgiving people can be.  The father of one the slain babies held a press conference and said that his prayers were with the murderer’s family, for they too are grieving.  This man had not even buried his six year old daughter, and yet his faith in religion and mankind leads him to embrace the murderer’s family in their time of grief.  My reservoir of compassion runs too low to be able to do the same.  What I also can’t do is watch the endless news coverage.  How much heart ache is enough?  CNN posted pictures of all the victims, which included the boys and girls who were slain.  I can’t look at the pictures because when I do I think how they were systematically executed.  The son of b!t$& who murdered these babies had to reload to finish what he had set out to do.  I can’t imagine how the parents of the slain children are dealing with this.

I know the cable news channels have to fill time, and this is news.  But enough is enough.  One of the most simple and moving tributes came from, of all places, Saturday Night Live; for a TV show that has no boundaries they exhibited extraordinary dignity and simplicity.

Until next time,

Godspeed.