Insights with Don Mills and David Campbell- An Acadia Broadcasting Podcast

Today on the Insights podcast, Don and David talk with Dr. Herb Emery from the University of New Brunswick about the changes to the immigration, temporary worker and international student levels announced by the federal government.  The cuts are significant and could have a big impact on Atlantic Canada.  The conversation covers a wide range of topics, from the importance of setting a population growth target to the implications in rural Atlantic Canada and the many communities that have been focused on immigration to help meet workforce demand.  Will the cuts be necessary to address concerns, or will they return the region to population decline?  Listen to this week's episode to find out. 

Arguably, Newfoundland and Labrador is at one of the most consequential moments in its history.  Among its challenges, the province is the oldest in the country and some of its most important industries are facing an uncertain future.  At the same time, there are multiple opportunities for growth including new oil and gas development, mining projects, the use of wind energy to power new industries, tourism, as well as technology-based sectors. Dr. Rob Greenwood, Deputy Minister of Rural and Regional Development and Engagement, and Chief Economic Development Officer for the Government of Newfoundland and Labrador joins Don and David this week to talk about NL Futures, an initiative meant to ensure the province can prosper in the years ahead.  NL Futures has three main themes: labour market, productivity and boosting rural economic development capacity. Greenwood makes a strong case the province’s best days lie ahead.

Donald Savoie, a prominent author and expert on Canadian government, dives deep into his latest work, which critiques the federal civil service. He discusses alarming trends like the growing number of public servants while satisfaction dwindles. Savoie points out inefficiencies, particularly in senior management, and the difficulties in retaining talent against attractive private sector benefits. He emphasizes the need for reform and public engagement to enhance government effectiveness and reliability, making this conversation a vital listen.

Recently, David and Don were the closing keynote speakers at ACG's Third Annual Atlantic Conference in Halifax which attracted 200 potential investors in Atlantic Canada. ACG (Association for Corporate Growth) is the largest M&A organization in North American with more than 15,000 members. Christine Pound, a senior partner with Stewart McKelvey and the Co-Chair of the Conference was the host of a live recorded Insights Podcast where David & Don, drawing on the insights gained from more than 180 podcasts, shared their opinions about the investment environment and opportunities within the region, as well as their optimism about the future of Atlantic Canada. 

Our guest on this episode of the Insights Podcast is Nik Nanos. Nik is one of the best-known pollsters in Canada, appearing regularly on CTV and Bloomberg News to talk about his latest research about the attitudes and opinions of Canadians based on his weekly tracking polls (@nanos.ca). His research is also used regularly by the Globe & Mail. He has also had a long-time involvement as a volunteer leader in the public opinion and market research industry, most recently as Chair of the Canadian Research and Intelligence Council (CRIC). In a wide-ranging conversation, Nik talks about the founding of his company in 1987 right out of university, the challenges facing the research industry, the current mood of Canadians on a variety of issues and the most likely outcome of the coming Federal election. Those interested in public opinion and who follow politics will enjoy this conversation.

On this week's Insights Podcast, we feature a wide-ranging conversation with David Hutchens, the CEO of St.John's based Fortis, a major electrical utility in North America, with holdings across Canada, in the United States and the Caribbean. Listed on both the TSX and the NYSE, Fortis is one of the region's biggest publicly listed companies with nearly $70 billion in assets. The company reported earnings of over $300 million in its most recent fiscal year and has provided annual returns to its shareholders of over 10% for the past twenty years. Fortis was formed as a holding company in 1987. From its humble beginnings as St. John's Electric Light in 1885, Fortis has grown into an energy giant with nearly 10,000 employees, of which nearly 700 are with Newfoundland Power and over 200 in PEI with Maritime Electric. There are another 50 head office jobs in St. John's supporting their decentralized subsidiaries elsewhere. Hutcheons just announced a new $24 billion, five-year capital program for the company.  He talks about the need to invest in infrastructure to address climate change and the company's growth goals going forward. This is a great Atlantic Canadian success story that relatively few in the region will be aware of both the size and scope of operations of Fortis. 

On this episode of the Insights Podcast, we talk with veteran political reporter Stephen Maher, who has just written a book called “The Prince: The Turbulent Reign of Justin Trudeau”. The book was well researched and provides a balanced look at Trudeau’s time as Prime Minister. It is a book that would be of interest to those who follow politics. Maher gives credit to the Trudeau Government’s for its handling of the pandemic, efforts to reconcile with Indigenous communities, and protecting the environment. He is more critical of Trudeau for his handling of the economy and the country’s fiscal situation. The podcast also takes the opportunity to discuss the state of journalism in the country, with a specific emphasis of the challenges facing the newspaper industry

On this week's Insights podcast, Don and David speak with Beena Goldenberg, CEO of the cannabis product manufacturing firm OrganiGram.  The third largest company in Canada by market share, OrganiGram has annual revenues of $160 million and a massive 550,000 square foot production facility in the Moncton Industrial Park.  To put that into perspective, OrganiGram's facilities are equivalent to the footprint of four Costco stores.  The company is likely NB Power's largest customer in Moncton and has a 60 person R&D shop, again likely the largest private sector research team in the Greater Moncton region.  Beena discusses the company's growth as well as challenges as the company looks to build a global company from its roots in New Brunswick.  For anyone interested in learning about one of the largest manufacturing companies in Atlantic Canada and the state of the cannabis market in Canada and beyond, this one is well worth an hour of your time. 

In this episode of the Insights Podcast, we focus on Canada's National Shipbuilding Strategy and the impact of that strategy on Atlantic Canada. Building ships for the navy is a complex and complicated endeavour and there is probably no other group than the Irvings that were capable of competing and winning a national bid to build those ships in Halifax. Irving Shipbuilding has 2,400 people working to complete the Arctic Offshore Patrol Ships (AOPS) portion of their contract and is readying to begin to build the combatant "River Class" ships. They have developed a skilled and capable workforce and  provided Canada with a sovereign ability to build its own military ships. The company has already spent more than $500 million in the region since the beginning of the AOPS program and contracts with more than 130 companies across the region. In our conversation with their CEO, Dirk Lesko, a veteran shipbuilder, he talks about the further investments needed to prepare for the combatant program, his pride in his leadership group and labour force and how the current shipbuilding facilities compare globally. It is a big deal for our region and well worth a listen.

This episode of the Insights Podcast features a very interesting conversation with Mike Fenton, the CEO of ACG Toronto (Association for Corporate Growth), an organization that brings deal makers together to help them achieve their business and professional goals. ACG was founded in1954 and promotes itself as the premier M&A making community with more than 100,000 members in 61 markets. Atlantic Canada has caught the attention of ACG who will be hosting its third Atlantic Network Conference on September 18th focusing on the growing investment opportunities within the region. More than 200 investors are expected to attend this year's conference including the Northeast US and Central Canada. Mike provides a great overview of the work of ACG and why Atlantic Canada is becoming increasingly of interest to those outside the region as an investment opportunity. It reinforces our opinion that our economy is in transition, and it posed for transformational economic change. Attracting outside capital interest confirms that belief.