There are historical events that take place in everyone’s lifetime which are seared in our memory.  Every generation has their moment.  I thought about what historical events do I remember vividly as we approach the 10th anniversary of 9/11.  Three events immediately came to mind…

’72 Summit Series

The 72 Summit Series.  Canada versus Russia…. good versus evil… democracy versus communism.  This was more than a hockey series.   I was 12 years old back in 72.  Like the rest of the country I so desperately wanted the good guys to win.  Back then I didn’t get political nuances, all that mattered to me was that my heroes were playing against this team from far away.  I remember when the series moved to Moscow for the final four games, my first thought was, oh-oh, school’s going to get in the way of me being able to watch the games.

All the games would be broadcast in the afternoon.  I really didn’t get differences in time zones back then.  Alas, there was no need to worry.  My grade 7 teacher wheeled a TV into the classroom, and there we watched game five, six and seven.  Then the unthinkable happened.  After game 7 our teacher reminded us that were going on a field trip, and unfortunately we wouldn’t be able to watch the eighth and deciding game.  Clearly she was joking, and I believed that up until the moment I was getting on a school bus to go on the field trip.  I was furious, I couldn’t believe we would miss the deciding game because we were going to a nature preserve, to look at plants and bugs.  As game time approached I made a decision, I had to find a way to watch the game.  When we drove up in the school bus I noticed there was a building on the property.  I decided to have a look.  The building was empty and I went for a walk about until I found a room that looked like a cafeteria.  I walked in, and is if my prayers were answered, there was a TV.  I went to turn it on, promising god that if the TV worked I would be really good.  He heard my prayers, its minutes to game time.  Then my teacher walked in…arms folded across her chest…she asked me, “and what do you think you’re doing Mr. Bozic”.  Back then I didn’t understand rhetorical questions, was so I answered “I’m watching the game”.  She gave me my marching orders but I responded with, “I can look at bugs and plants any day of the week, but this hockey game is history”.  She walked out and I thought this game better be worth it because my old man is going to kill me.  You see back then you didn’t defy teachers, at least not in our house.  As I contemplated that my life will probably end in four hours, I figured that’s what would happen when I get home from school, my teacher and fellow classmates walked into the room.  We all sat there together and watched this amazing hockey game. When Paul Henderson scored the winning goal, with less than a minute to go in the game, the room went nuts. I remember walking up to my teacher and hugging her, and to say thank you.  I remember her looking down on me, with a smile on her face, and she said, “you were right”.  Some teachers are amazing.

John Lennon

I remember the night John Lennon was murdered because I just started working at a radio station.  Many moons ago I worked on air, and my first gig was an overnight jock at a radio station in Orillia, CFOR.  During my 45 minutes of training, I was told keep an eye on the news wire.  It’s a service radio stations subscribed too, and the newsmen would use the copy to read on air. So there I am, a rookie announcer, all by myself at the station, nervous as hell and the wire service is going crazy.   I heard some beeping coming from the wire service machine, so I figured something big must be happening. I walked into the newsroom, I looked at the  copy which was being printed, and there it read, BULLETIN…JOHN LENNON GUN-DOWNED IN NEW YORK.   Holy &@!?…what do I do now?  So I went into the music library and pulled out every Beatles album the station had.  I played Beatles music for rest of my shift, and went on the air every 15 minutes with updates about John Lennon’s murder.  There was no protocol to follow so I winged it.  Thankfully the program director was on side the next day, and I’m sure all my listeners that night – the overnight gas station attendant and the two cab drivers – appreciated the music.

9/11

I was supposed to be on a plane on 9/11.  I was at the Fairmont Hotel at the Vancouver airport on the morning of 9/11.  I had a plane to catch back to Toronto.  I woke up that morning, made some coffee, and started to read the newspaper.  I’m reading yesterday’s news so I’m completely oblivious to what’s going on.  I then get a phone call from my cousin, who lives in Vancouver, and he asks me if I’m watching the news?  I said no, and he said turn it on, I think we’re at war.  I thought what the hell? Did he fall out of bed and bump his head?  Okay, I’ll play along.  I turned the TV on, and I watched in stunned disbelief for about twenty minutes.  For some reason a voice in my head said, “get away from the airport”.  I packed up my clothes and made my way to my cousins place.  I had to stay there for 5 days before I could get a flight out.  I’ve never wanted to come home so badly.  I just wanted to be around family and friends.  It’s been 10 years since 9/11, and our world changed dramatically that day.  Especially for the 27 Canadian families who lost loved one’s on 9/11.

Godspeed.

We all have some ground to make up, and the good news is we have fewer distractions.  The summer is unofficially over.

I don’t know about you but Labour Day Weekend feels like the end of summer for me.  I know the official date to bid farewell to summer is September 22, but Labour Day Weekend reminds me of things to come.  As a kid I hated to see the CNE in Toronto close for another year.  Why? The day after it closed it was back to school.  No kid looks forward to going back to school, unless it’s that kid that always sits in the front row, raises their hand to answer every question, and their goal is to be on the honour role and not to get stuffed into a locker.  Back to school also means traffic will be a mess, especially the first week after Labour Day Weekend.  Everyone is back from summer vacation, but while people were away enjoying summer, they all seemed to have forgotten how to drive.  Drive…neutral…reverse, no different from July 1st, but some folks need a week to adjust.

Another adjustment we have to make after Labour Day is the weather.  Right on cue we reached a high of 17 in Toronto, on Labour Day Monday.  On Saturday it was 34, and on Monday I was looking for a jacket.  The only people happy to see the temperatures fluctuate to that degree, pardon the pun, is Al Gore and the Enviro-Nazis.  You see they don’t call it global warming anymore, now it’s called “Climate Change”.  If the earth gets warmer or colder…they’re always right.  I’m always leery of a zealot or a fanatic.  When you identify fanaticism, usually the motivation is money.  It’s been widely reported that since Al Gore took up the environment as his cause for being, his net worth has grown to $100 million.  For that kind of money people will say and believe in just about anything.  I know one thing for sure, Al Gore won’t have to turn down the thermostat this winter to pay the bills.  If the truth be told neither will we. We’re Canadian’s…winter is around the corner…we deal with it.

As the temperature starts to drop, and the kids have re-acquainted themselves with old friends back at school, our business refocuses to the tasks at hand.  The banks year-end is October 31st, and for the rest of us we have another four months to make our year.  We actually only have three months to work with because December is, well, December.  If you’re not working on anything by December 15th, you might as well shut her down.  Before we get to December we all have an opportunity to make up for lost ground.  Statistics suggest that our industry Q3 numbers will be sluggish.   That’s code for down on a year over year basis. The numbers will probably indicate that we’ve had further overall market share erosion.  I don’t believe the numbers will be alarming but further decrease in market share will create a certain amount angst, and a lot of chatter.  The good thing about our industry is we don’t just babble, we do.  We’ve all been extraordinarily resilient over the last few years.  We have to draw on the lessons we’ve learned from the past, and put that wisdom to good use as we enter Q4.  We all have some ground to make up, and the good news is we have fewer distractions.  The summer is unofficially over.

Until next time.

Cheers,

What happens when Brands are Associated with One Individual?

The summer of 2011 will be remembered for the loss, and stepping aside, of two iconic leaders.  One dedicated his life to public service, and the other individual is a cultural icon.  One lived off the public’s dime, while the other individual created massive wealth for himself and shareholders.  Both individuals stepped aside for health reasons.  One individual lost his battle with cancer, while the other individual is stepping aside to fight the horrible disease.  The name Jack Layton and Steve Jobs are synonymous with their respective brands, the NDP and Apple.  Their respective brands today face the difficult task of determining…now what?  Who will fill the shoes of these iconic leaders, and what fate awaits the two brands?

Upon learning that Jack Layton had passed, I was struck by the fact that so many people stated that they were shocked to hear the news.  If you watched his press conference in July, when he announced that he was stepping aside for health reasons, he looked like a man who has been told he should get his personal affairs in order.  Not to sound morbid but I have to wonder if the same doesn’t hold true for Steve Jobs.  It’s been widely reported that Jobs has been fighting cancer for last seven years, and his health today required that he step aside as CEO.  It was announced that Jobs will take on the role as Chairman of Apple, but that role is diametrically opposed to what Jobs role was as CEO.  The Chairman of the board is responsible for corporate governance, and ensuring the company adheres to corporate strategy.  The CEO role is responsible for creating the strategy, and being responsible for the overall business.  When you’re a CEO, you’re in the middle of all the action.  As Chairman your responsibilities are to the board, which customarily meets four times a year.  I suspect that neither Layton or Jobs would be happy unless they were in the trenches, making things happen.

Apple has already determined who their next CEO will be, Tim Cook.  The NDP will have a leadership convention to determine who will sit on the throne.  Both individuals will have an impressive CV, but I can assure that it will never be the same.  Quickly, name me two individuals that were a part of Layton’s cabinet, not including his wife?  Or who is Tim Cook, and what revolutionary technology was he directly responsible for creating?  You’ll have to google the answers.  Yet when it comes to Jobs and Layton we can rhyme off a number of their accomplishments.  The NDP would never be the official opposition without Layton, and Apple would never have left every other technology company in the rearview mirror without Jobs.  There’s plenty of examples where companies have thrived with the departure of an irreplaceable” leaders, Walt Disney, Southwest Airlines, Wal-Mart, IBM etc.  But all these companies lost some of their mojo when their iconic leaders were no longer at the helm, and they all spent time in the business wilderness before making a comeback.  That’s the problem when brands are associated with one individual.  It’s inevitable that brand will take a step back before it finds its footing again.  I have a certain amount of empathy for the two individuals who will be saddled with the responsibility of making the electorate and markets forget about the past.  Joseph Bower, author of The CEO Within, captured it accurately when he said, “acorns seldom flourish in the shade of a great oak”.

Upon reflection I realized that we have a lot of “great oaks” in our industry.  Could that pose a challenge for these companies in the future? Possibly.  But the reality is these companies would never have reached the levels of success they are enjoying today without their leadership.  The one common trait they have is they are founders of their respective companies.  These individuals cast a very wide shadow.  I’ll prove it to you.  Let’s play name association.  I’ll mention four brands in our industry, and what name immediately comes to mind?  VERICO, DLC, TMG and MCAP.  Without a doubt you said Dreyer, Mauris, Thomas and Swift.  I don’t care what kind of credentials one has, filling their shoes would be a difficult task.  Business acumen alone will never trump business street smarts, and emotional attachment.

Until next time.

Cheers

What happens when Brands are Associated with One Individual?

The summer of 2011 will be remembered for the loss, and stepping aside, of two iconic leaders.  One dedicated his life to public service, and the other individual is a cultural icon.  One lived off the public’s dime, while the other individual created massive wealth for himself and shareholders.  Both individuals stepped aside for health reasons.  One individual lost his battle with cancer, while the other individual is stepping aside to fight the horrible disease.  The name Jack Layton and Steve Jobs are synonymous with their respective brands, the NDP and Apple.  Their respective brands today face the difficult task of determining…now what?  Who will fill the shoes of these iconic leaders, and what fate awaits the two brands?

Upon learning that Jack Layton had passed, I was struck by the fact that so many people stated that they were shocked to hear the news.  If you watched his press conference in July, when he announced that he was stepping aside for health reasons, he looked like a man who has been told he should get his personal affairs in order.  Not to sound morbid but I have to wonder if the same doesn’t hold true for Steve Jobs.  It’s been widely reported that Jobs has been fighting cancer for last seven years, and his health today required that he step aside as CEO.  It was announced that Jobs will take on the role as Chairman of Apple, but that role is diametrically opposed to what Jobs role was as CEO.  The Chairman of the board is responsible for corporate governance, and ensuring the company adheres to corporate strategy.  The CEO role is responsible for creating the strategy, and being responsible for the overall business.  When you’re a CEO, you’re in the middle of all the action.  As Chairman your responsibilities are to the board, which customarily meets four times a year.  I suspect that neither Layton or Jobs would be happy unless they were in the trenches, making things happen.

Apple has already determined who their next CEO will be, Tim Cook.  The NDP will have a leadership convention to determine who will sit on the throne.  Both individuals will have an impressive CV, but I can assure that it will never be the same.  Quickly, name me two individuals that were a part of Layton’s cabinet, not including his wife?  Or who is Tim Cook, and what revolutionary technology was he directly responsible for creating?  You’ll have to google the answers.  Yet when it comes to Jobs and Layton we can rhyme off a number of their accomplishments.  The NDP would never be the official opposition without Layton, and Apple would never have left every other technology company in the rearview mirror without Jobs.  There’s plenty of examples where companies have thrived with the departure of an irreplaceable” leaders, Walt Disney, Southwest Airlines, Wal-Mart, IBM etc.  But all these companies lost some of their mojo when their iconic leaders were no longer at the helm, and they all spent time in the business wilderness before making a comeback.  That’s the problem when brands are associated with one individual.  It’s inevitable that brand will take a step back before it finds its footing again.  I have a certain amount of empathy for the two individuals who will be saddled with the responsibility of making the electorate and markets forget about the past.  Joseph Bower, author of The CEO Within, captured it accurately when he said, “acorns seldom flourish in the shade of a great oak”.

Upon reflection I realized that we have a lot of “great oaks” in our industry.  Could that pose a challenge for these companies in the future? Possibly.  But the reality is these companies would never have reached the levels of success they are enjoying today without their leadership.  The one common trait they have is they are founders of their respective companies.  These individuals cast a very wide shadow.  I’ll prove it to you.  Let’s play name association.  I’ll mention four brands in our industry, and what name immediately comes to mind?  VERICO, DLC, TMG and MCAP.  Without a doubt you said Dreyer, Mauris, Thomas and Swift.  I don’t care what kind of credentials one has, filling their shoes would be a difficult task.  Business acumen alone will never trump business street smarts, and emotional attachment.

Until next time.

Cheers

It’s finally here and there’s no way to avoid it. I’m not referring to recent headlines, the stock market, US debt and downgrading or the economic crisis in Europe. What I am referring to is the funding of our healthcare system, and our aging population. No political party, while governing or in opposition, has had the courage the face these issues. For too long government has put votes in front of fixing the problem. Health care in this country has always been treated like the sacred cow, and because of inaction, the system is broken. To be clear, healthcare in this country is provided by some of the best medical practitioners in the world. But they are expected to perform miracles within a system that’s flawed. The system is going to have to change because the government will no longer be able to throw money at the problem. There just isn’t enough money anymore.

The reason the government is facing this problem is simple, the number of working-age taxpayers will not be able to foot the bill going forward. The Globe and Mail reported last week that the government has held closed-door meetings, at the highest levels, about this issue. According to the Globe and Mail, “Canada, currently the 27th oldest country in the Organization for Economic Co-operation and Development, is on track to become the 11th oldest within 20 years. It’s a challenge that will spark debate over Canada’s retirement age, fertility rates and immigration, while risking generational tension between a growing population of older voters and a shrinking pool of younger taxpayers.“. These figures are staggering.

Healthcare and the aging population will impact us all of us economically. Today we have a tiered healthcare system. Irrespective of what anyone says it’s in place today. Why is that a professional athlete in this country, who requires a medical procedure, be it testing or surgery, can have the procedure done within 24 hours? The reason – someone is paying for it. I recently experienced this first hand. I went to see a specialist a couple of years ago and he said that I required a MRI. He said that he could get me in within 3 months. However, if I wanted to go to a clinic in Buffalo, he could get me in within 24 hours, for a cost of $1,000. I went to Buffalo the next day, and gladly paid the money. I think this is our future, private healthcare. I don’t see what other option we have. A combination of public and private healthcare is the only solution. If this indeed comes to fruition it will have an impact on all employers. If the day comes where employers in this country recruit based on private healthcare insurance, there will be a direct correlation to wages. Private healthcare is costly, and employers will have to balance the capital cost of insurances versus wages. Last time I checked yearly income was an important factor when qualifying for a mortgage. There’s always a domino’s effect.

As for the aging population, I can see the day when reverse mortgages become more common place. The challenge will be to develop products which are more affordable for the elderly, and to create securitization vehicles for reverse mortgages. Nursing homes are costly, and adequate care is always a concern. The elderly may chose to remain in their homes for a longer period of time, and they have every right to live out their lives with dignity, in the comfort of their own homes. Ah, but what’s left for the kids? In this new world, maybe not so much.

Hopefully these issues will be confronted in an honest way. The government has responsibility to lead in these matters, and the partisan rhetoric will have to be put aside for the greater good. The taxpayer, the elderly and the sick deserve better from our government. It’s time to be honest.

Until next time

Cheers