Tom Sweeney

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Sales, Lies, and Interviews

Posted by sweens on May 19, 2011

These two articles have been floating around my office today and I couldn’t not share…

Sales, Lies, and Interviews

by Eliot Burdett on December 9, 2007 in Ethics in Sales

 

Peak does a lot of interviews with salespeople. I mean a lot – tens of thousands a year. The bulk of candidates with whom we meet are ambitious, capable, diligent, accomplished professionals, but from time to time, we come across those who would rather bend the truth than embrace the truth. Some become deceivingly good at it and if it weren’t for a series of useful tests and tricks we employ, they might slip through our process undetected. Luckily it is easy to spot most liars since they overconfidently assume they are smarter than the rest of us and that no one is on to them – arrogance is usually pretty easy to catch.

So I thought I would share the five most common lies we hear in interviews and what they actually mean.

1. I was laid off but it had nothing to do with my performance. Real meaning – My previous employer didn’t feel I performed well enough to keep me on the team, but was kind enough to lay me off rather than fire me. It is almost always about performance and employers rarely part with a performer without a fight. (Related lie – I was on contract and left because the contract ended.)

2. I can’t use my previous manager as a reference because I am not sure where they are now. Real meaning – we didn’t have a strong relationship when we worked together and still don’t. Previous employers offer significant insight into what it is like to employ a candidate.

3. I wasn’t able to be successful at my last company because the company didn’t support the sales team. Real meaning – I need the sun, moon and stars to line up in order for me to make a sale. Top performers let nothing get in the way of closing business and don’t have time for excuses.

4. My career is not about the money. Real meaning – I don’t know how to negotiate. Businesses exist to make profits and people work for money. Anyone who says it isn’t about the money probably doesn’t have much. It is always about the money.

5. I worked for my wife’s pet grooming business for a year and a half. Real meaning – I interviewed for a year and a half, but couldn’t find employment, so I have put my wife’s home business on my resume to fill the gap. This lie is not a lie if candidate successfully closed a shiitake load of business and made his wife a millionaire.

If you have other lies you have seen, please send them along and I will be happy to share them with our readers.

Eliot

http://peaksalesrecruiting.com/sales-lies-and-interviews/

Top 10 Dumb Lies Reps Tell Managers

Contrary to what many people think, sometimes it’s OK to lie to the boss.  After all, your manager is lying to you about salaries, layoffs, office politics, etc..  Since that’s the nature of the business world, you have the ethical right to lie in return if it serves your career.  (Example: lying about taking the morning off to interview for another job.)  Even so, there are a set of lies that sales reps tell their sales managers that most sales managers know are bogus.  Here they are:

  • LIE #10: Budget is not an issue with this customer.  Truth: budget is always an issue.
  • LIE #9: These are all qualified opportunities.  Truth: Some must be more qualified than others.
  • LIE #8: It’s a qualified lead, but they have no money.  Truth: No money means they’re not qualified.
  • LIE #7: I have all the important customer notes in my head.  Truth: I’m too lazy to write them down.
  • LIE #6: I entered all the details in our CRM system.  Truth: You entered the minimum required.
  • LIE #5: I am working from home this morning.  Truth: Yeah, right.
  • LIE #4: I made 100 cold calls today.  Truth: You made some calls, but probably not THAT many.
  • LIE #3: I don’t cold call because it is not a good way to generate new business.  Truth: You don’t cold call because you hate cold calling.
  • LIE #2: These new leads just advanced right before this funnel review meeting, so I don’t have all the details.  Truth: You’re not on top of your accounts.
  • LIE #1: I expect to hit my quota, but as luck would have it, most of my customers will be making a decision in the last week of the quarter.  Truth: You’re praying that something will close by then.

READERS: Is this the right list?  What else should be on it?

By the way, the idea for this list (and most of the contents) came from observations about real-world sales behavior by Peak Sales Recruiting, a company that, in the words of one executive, is a “passionate defender of ethics in the sales profession.”

The remarks about being allowed to lie, though, are IMHO.  Or rather, to be truthful, they’re an opinion I borrowed from Scott Adams, who pointed out during an interview that if a company asks you to work unpaid overtime, you are within your rights to use some of that time to create your own business.

http://www.bnet.com/blog/salesmachine/top-10-dumb-lies-reps-tell-managers/1607

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Telesat tops Ottawa firms on Branham300

Posted by sweens on April 6, 2011

Published on April 5, 2011
Elizabeth Howell

Ottawa satellite firm Telesat sits atop more than 30 Ottawa-headquartered companies listed on the Branham300, an annual measure of Canadian technology firms based on worldwide revenue.

Consolidated revenues for Telesat in 2010 were $821 million, up four per cent or $34 million from 2009.

Considering foreign exchange fluctations, the increase was more like eight per cent, Telesat said when releasing the results in early March.

The firm is in reported takeover discussions that could culminate in new ownership in a matter of weeks. It currently is jointly owned by majority United States economic interests and majority Canadian voting interests.

Many of the firms in the top 20 of Branham’s list have or had significant presences in Ottawa, including RIM (which took top rank overall), BCE, Rogers Communications, Telus, MDA, OpenText and Nortel Networks.

Although Nortel is insolvent, the firm has been engaging in billions of dollars in asset sales in past years, still pushing its revenues up to the 14th rank overall on the Branham300.

Just yesterday, Nortel announced Google was the stalking-horse bidder for its last major asset – patents – for $900 million.

“It’s been a slow decline for Nortel, one of Canada’s most well know technology companies,” stated Darren Anderson, the research co-ordinator for Branham300.

“While Nortel only has skeleton operations remaining, they continued to generate sales in 2010 and as such remained on the Branham300 listing. While 2010 may be the last year that Nortel lands on the Branham300, there is no question that its influence on the tech community in Ottawa and throughout Canada will live on for years to come.”

Branham, a consulting firm, stated the technology industry as a whole had “modest” growth in 2010, with the top 250 companies seeing $73.93 billion in revenue, a nearly four-per-cent increase over $71.32 billion in 2009, but still down from $75.97 billion in 2008.

The complete list of Ottawa-headquartered firms:

- Telesat (13)

- Mitel (19)

- Calian Technologies (32)

- Zarlink Semiconductor (34)

- DragonWave (38)

- Bridgewater Systems (49)

- March Networks (53)

- Eagle Professional Resources (54)

- MOSAID Technologies (63)

- Maplesoft Group (65)

- Agda Group Consultants (65)

- Wi-LAN (89)

- Veritaaq Technology House (104)

- Nitro IT Business Solutions (115)

- CORADIX Technology Consulting (122)

- International Datacasting (132)

- Iridian Spectral Technologies (149)

- ExitCertified (151)

- 4Point (158)

- OSI Geospatial (159)

- Espial Group (178)

- Cistel (182)

- TRM Technologies Inc. (197)

- PIKA Technologies (204) – tied

- C-COM Satellite Systems (206)

- ThinkWrap Solutions (229)

- PrecisionERP (233)

- Fidus Systems (237)

- non-linear creations (242)

- In-Touch Survey Systems (250)

- Advanced Software Concepts (259)

- DataKinetics (271)

- TASKE Technology (276)

- TECSIS (279)

- The KTL Group (297)

Branham also published several other lists isolating specific industries.

Top 25 Canadian ICT Multinational Companies

- General Dynamics Canada (11)

- Alcatel-Lucent Canada (12)

- CSC (20)

Top 25 Canadian ICT Up and Comers

Gazaro (Ottawa)

Top 25 Canadian Software Companies

- Mitel (2)

- Bridgewater Systems (6)

Top 25 Canadian ICT Professional Services Companies

- Calian Technologies (9)

- Eagle Professional Resources (17)

- Adga Group Consultants (20)

- Maplesoft Group (technology division) (20)

Top 25 Canadian ICT Hardware and Infrastructure 

Companies

- Zarlink Semiconductor (13)

- DragonWave (15)

- March Networks (20)

- MOSAID Technologies (24)

Top 10 Canadian ICT Security Companies

- Cistel (9)

- TRM Technologies Inc. (10)

Top 10 Canadian Wireless Solutions Companies

- DragonWave (3)

- Bridgewater Systems (5)

Top 10 Canadian xSP Companies

- Telesat (6)

Top 10 Canadian ICT Staffing Companies

- Calian Technologies (2)

- Eagle Professional Resources (5)

- Maplesoft Group (technology division) (6)

- Veritaaq Technology House (8)

Top 20 Movers & Shakers

- Maplesoft Group (technology division) (2)

- DragonWave (5)

- Iridian Spectral Technologies (9)

- PrecisionERP (16)

http://www.obj.ca/Technology/2011-04-05/article-2401810/Telesat-tops-Ottawa-firms-on-Branham300/1

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Tech labour crunch looming in Canada

Posted by sweens on March 30, 2011

By Jameson Berkow, Financial Post

TORONTO. Canada is facing a “systemic” technology labour shortage, a new study has found.

Companies will be looking to fill 106,000 new positions in the information and communications technology (ICT) sector in the next five years, according to the study released Tuesday by the Information and Communications Technology Council (ICTC). That would be good news for a recovering economy, were it not for a severe lack of qualified candidates to fill those positions.

As the sector returns to employment levels unseen since the tech boom of the early 2000s, the study said companies will be looking for applicants who are more than just “code-monkeys” but who also have a degree of business acumen and a diversity of skills. Women are also still severely underrepresented in the industry.

“We are quite comfortable in saying, ‘Ladies and gentlemen, we have a problem,’ ” said Paul Swinwood, chief executive of the Ottawa-based industry group.

With demand for ICT professionals growing, annual enrollment rates for Canadian software and computer engineering programs appear to have flattened in recent years. Meanwhile, immigration of foreign workers with relevant ICT training and experience has recently been in decline. As a result, the study warns of “serious and pervasive” recruitment challenges in the coming years, with shortages being most severe for positions requiring several years of experience.

“The people with five to seven years experience just don’t exist anymore because we didn’t hire them five years ago,” Mr. Swinwood said. “The jobs have changed and the people that we need for them have changed.”

When the industry last peaked in 2001, the most sought after ICT workers were generally programmers who could be assigned to write specific pieces of software individually.

“But the skills in anticipation of what will be required going forward is certainly going to be different than it was 10 years ago,” said Evelyn Ledsham, global talent management leader at Open Text Corp. With about 1,200 Canada-based employees, Waterloo, Ont.-based Open Text is the country’s largest software company.

“In the past, people might have only looked for what I would call very silent functional skills, but in today’s marketplace that is just not going to be enough anymore and so many of us have to have the ability to adapt and be flexible,” Ms. Ledsham said.

That flexibility will require gaining expertise in other domains such as e-health, e-finance and digital media, the study said.

Unlike the previous tech boom, which was virtually exclusive to tech-focused companies, the one fast approaching will have its tentacles across the economy.

“This time around, it is the growth of the economy and the growth of information technology in the economy, and the employment is everywhere,” said Mr. Swinwood. “It is with Canadian Tire, it is with Canadian National, with CGI and Microsoft. All of Microsoft’s value-added resellers, the little fires as we know them out there, are just dying for people.”

Eric Gales, president of Microsoft Corp.’s Canadian division, said the software giant has long been aware of the limited talent pool in Canada and has been actively working to expand its outreach.

“There are not enough graduates entering our sector, that is a problem,” he said. “There are also not enough immigrants coming in with the right skills and there is going to be a battle if you like for the skilled professionals in the marketplace [for companies] to be an attractive destination for them,” he said.

Expanding recruitment to more diverse groups is one of several ways to close the gap recommended by the study. It notes that women in particular make up only 25% of all Canadian ICT employees, a figure that declined as recently as January.

” This gender imbalance limits the pool of workers industry can recruit from and compounds the skills shortage in Canada,” the report said, also noting that Aboriginal and First Nations people are underutilized as ICT workers.

© Copyright (c) National Post

Read more: http://www.ottawacitizen.com/technology/Tech+labour+crunch+looming+Canada/4528323/story.html#ixzz1I6OmMf1f

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The Worst Resume Mistake EVER!

Posted by sweens on March 29, 2011

By Mark Swartz
Monster Senior Contributing Writer

What could possibly be the worst mistake you could make when it comes to your resume?

Not targeting it to the kind of job you’re looking for is a biggie. Leaving out keywords that a scanner can pick up is another no-no. So is failing to list your achievements in ways the reader will find meaningful.
But the biggest error of all in putting your resume together is simply this: being sloppy.
A spelling mistake here. Forgetting to leave out information that could be used to discriminate against you there. Sending it in the wrong format. Small bits of sloppiness add up quickly. They can end up getting your resume tossed into the “don’t call us, we’ll call you” pile in a flash. So here are three tips to prevent this from happening.

Tip 1. Don’t Rely Entirely on Spell Check When Proofreading
Think your word processing software will fix all the mistake on your resume? Well, mine couldn’t figure out that in the previous sentence I should have written “all the mistakes” rather than using the singular form of the word “mistake.” Instead, it told me to write “fix the entire mistake on your resume.” So much for letting your computer proofread your resume for you.
What should you do as an alternative? Check out how to get others to go over your pre-final draft and catch the errors. Either free or for a fee, a few more pairs of eyes on your work can spot what you – and that pricey word processor of yours – didn’t.

Tip 2. Customize Your Wording To The Job You’re Applying For
Generic resumes are a dime a dozen. You may be able to get away with a “one size fits all” approach if applying for lower paying jobs such as retail clerk or warehouse worker. But for the higher paying jobs, an employer expects you to put in some extra effort.
Try your best to match the requirements listed in the job ads you’re applying for. And create a dynamic Summary section atop the first page.

Tip 3. Send It In The Proper Format
In our era of electronic job postings and e-resume submissions (sending your application via e-mail and online form), don’t guess which format the employer prefers.

Follow their instructions on the job posting carefully. If sending directly to an employer via their e-mail, include your resume as scannable text within the body of the e-mail itself; then attach a version with nice layout and fancier fonts too, just in case they want to show it around to other staff.

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Solace inks distribution agreement with Hong Kong firm

Posted by sweens on August 26, 2010

Published on August 24th, 2010
OBJ Staff
Ottawa Business Journal

Hardware-based middleware firm Solace Systems has signed an agreement with Hong Kong-based Serisys Solutions Ltd. to distribute Solace’s hardware products in China, the firms announced Tuesday.

Financial terms of the deal, which lets Serisys sell and service equipment to its banking and capital-market customers through mainland China and Hong Kong, were not disclosed.

In a statement, Solace said the agreement would position the firm well in a geographical area with great growth potential.

“Financial firms in China and Hong Kong are experiencing massive transaction volumes that are pushing existing systems to their limits,” stated Crispin Clarke, Solace Systems regional vice president, Asia Pacific.

“Working with a visionary firm like Serisys improves our ability to bring the benefits of middleware appliances to leading financial firms in one of Asia’s fastest growing markets.”

Solace specializes in manufacturing hardware “middleware” that allows computer applications, that previously couldn’t communicate with each other, to share information.

The Ottawa-based firm’s technology is also used in companies that deal in financial markets, governments, telecommunications and transportation.

http://www.obj.ca/Technology/2010-08-24/article-1693846/Solace-inks-distribution-agreement-with-Hong-Kong-firm/1

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Procom Hiring – Proposal Manager

Posted by sweens on July 29, 2010

Position: Proposal Manager
Location: Ottawa, Ontario
Duration: Permanent

Job Description: Procom is searching for a Proposal Coordinator to lead in the design and development of winning responses to client request for proposal competitions. The successful candidate will assume a leadership role in the RFP process and be an essential member of Procom’s business development team.

KEY AREAS OF RESPONSIBILITY:

  • Take ownership of the RFP process and work with Sales and Recruiting counterparts to develop excellent responses to client RFP processes.
  • Chair proposal kick-off meetings and run opportunity assessment matrix process.
  • Writing of tailored proposal responses, and working with client service teams to develop their proposal responses according to the prospects expectations.
  • Ensures the consistent delivery of compliant responses to an RFP on time and within budget. This includes coordination of bid writing activities and schedules so that proposals are developed, reviewed and signed-off in a timely manner. Prepares a schedule of bid activities identifying key milestones and delivery targets;
  • Assisting recruiters on qualifying candidates and ensuring compliance (generate recruiting checklist, candidate matrices, candidate tracking sheets, etc.)
  • Remain current on all proposal amendments and modifications, and ensure that the proposal is updated accordingly using quality grammar and content.
  • Coordinates the proposal production process, including word processing, graphics, proofreading, and production of all proposals to ensure consistency of language, formats, and graphics and an overall high standard of quality.
  • Creation and application of proposal development tools, such as compliance matrices, evaluation criteria weighting, proposal outlines, proposal templates.
  • Monitoring opportunities on various bid sites
  • Such other duties and responsibilities as may be assigned from time to time which are compatible with the position.

PROFESSIONAL QUALIFICATIONS & EXPERIENCE:

  • Minimum of a bachelor’s degree preferably in, English, communication, journalism business or other related industry. • Have a solid understanding of Government procurement processes and policies, proposal processes and excellent teamwork.
  • Significant experience in proposal development including – proposal preparation, reviewing costing sheets, review and approval process.
  • Skill requirements include good organization and planning, problem solving, analytical skills, in-depth product knowledge, attention to detail, research, and excellent written and oral communication. Ability to prioritize multi-tasked functions and work under deadlines.
  • Working knowledge of MS Office business applications
  • Must be a team player and have a strong desire to support internal/external customers
  • Desirable
  • Knowledge of technical skill sets and IT terminology
  • Ability to become Secret-cleared.

PROCOM is a leading provider of IT services in North America, PROCOM and PROCOM SERVICES currently have more than 3500 consultants on assignment and place hundreds of people in permanent positions annually. For over 30 years, we have been finding high-quality jobs for our candidates. Our policies of maintaining open communication with both clients and candidates consistently make us the IT Firm of Choice. PROCOM and PROCOM SERVICES are committed to employment equity and make every attempt to allow equal representation for all within the workplace.

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Ottawa small-business owners third happiest in Canada: TD survey

Posted by sweens on July 26, 2010

Published on July 26th, 2010
OBJ Staff
Ottawa Business Journal

Around 84 per cent of small-business owners in Ottawa are happier owning and running their own business than being an employee, according to numbers released by the TD Small Business Happiness Index on Monday.

Overall happiness ranked at 27 per cent, placing owners in the city at the third-happiest in Canada — just behind Calgary (30 per cent) and Montreal (29 per cent).

“What the TD Small Business Happiness Index demonstrates is that small business owners enjoy a sense of control and freedom that they don’t generally realize when working for someone else,” stated Alec Morley, senior vice-president of small business banking at TD Canada Trust.

“Despite the recent economic downturn and the ongoing challenges of managing and growing a business, the personal satisfaction small business owners report illustrates one of the key advantages of owning your own company.”

According to TD, the following factors contributed to small-business hapiness:

- Pride and accomplishment from owning your own business (93 per cent);
- Volunteering or donating money to local charities or sports teams (93 per cent);
- Feeling a “deep personal connection” to employees and customers (85 per cent).

Other benefits included being your own boss and setting your own schedule, although long hours were a staple of business — at an average of 50.4 hours a week, among the top three in North American cities surveyed. Forty-three per cent of owners worked more than 60 hours a week.

“Small business owners tell us that owning a business has many advantages, despite the day-to-day challenges that come with running a company like red tape, property taxes and attracting and retaining talent,” stated Morley. 

The survey was conducted by Environics Research, and polled 1,213 small-business owners across the continent between May 13 and June 15. That included 101 small business owners in Ottawa.

http://www.obj.ca/Local/2010-07-26/article-1610376/Ottawa-small-business-owners-third-happiest-in-Canada%3A-TD-survey/1

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Procom is Hiring

Posted by sweens on June 4, 2010

My office is looking for another recruiter to join our team as we continue to expand…  If your interested please reach out to me.

Recruiter  – Government & IT Consulting

Procom is seeking a recruiter with a proven track record in government recruiting to join its growing Ottawa consulting team.  As a Government focused recruiter you will be involved in managing the complete recruitment cycle and assisting Procom’s client’s in identifying top talent for their business needs. 

Why join the Procom team?  Procom is the largest IT recruitment firm in Canada and has been consistently recognized as one of Canada’s Best Small & Medium Sized Employers by Hewitt & Associates.  Procom’s Federal Government practice continues to grow, resulting in a need for experienced and highly motivated recruiters that are interested in competitive compensation. 

Profile of an excellent candidate

  • A proven capacity to manage and deliver the full life cycle of recruiting responsibilities, including but not limited to, sourcing, screening and interviewing candidates, developing references and managing salary negotiations
  • Strong knowledge of Federal Government procurement practices and commonly used IT consulting procurement vehicles.
  • Strong ability to complete candidate matrixes and scoring candidates to verify compliancy of submissions.
  • A track record of proactively developing relationships with passive and active candidates using a variety of methods, including cold calls, emails and referrals.
  • Utilize internal and Internet databases to source and identify candidates for current and future needs
  • Demonstrated competence in using in using cutting edge recruitment methods and tools in order to remain at the forefront of the recruitment industry and deliver the best possible experience to Procom’s clients and consultants.
  • Knowledge of the IT labour market and the ability to communicate trends and recruitment challenges to internal and external stakeholders
  • Working knowledge of IT systems and technologies and the ability to translate client technical requirements into a targeted consultant search strategy
  • Working experience with an applicant tracking system (CRM, Taleo, Bullhorn, MaxHire, PC Recruiter, etc)
  • Experience in recruiting consultants for complex ERP opportunities, including PeopleSoft, SAP and ectera
  • A positive attitude and strong commitment to providing our clients and consultants excellent service.
  • Career growth tasks such as market experts in industry sectors, mentoring junior recruiters etc
  • Such other duties and responsibilities as may be assigned from time to time which are compatible with the position.

Skills and Knowledge Required

  • University Degree or relevant experience
  • 2 – 3 years IT recruitment experience
  • Ability to handle pressure and meet deadlines
  • Ability to prioritize
  • Good interpersonal skills

General:

  • Such other duties and responsibilities may be assigned from time to time which are compatible with the position.

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Nortel wraps up sale of CVAS business to GENBAND; almost 400 Ottawa jobs preserved

Posted by sweens on May 31, 2010

GENBAND has completed its acquisition of the Nortel’s carrier voice-over-Internet protocol and application solutions business, one of the last major pieces of the fallen telecom giant to be sold.

Plano, Texas-based GENBAND, which announced the US $182-million deal in February, said Friday that it’s now wrapped up planning for the integration process and has finalized its executive management team, reporting structure and product roadmaps.

As well, nearly 100 per cent of the 400 employment offers extended to Nortel’s former employees in the division have been accepted, the company said. There will be approximately 500 people in total working for GENBAND in Canada.

 “We are pleased to further our vision of fuelling next-generation network migration and IP multimedia services deploymehnt through our successful acquisition of Nortel CVAS technology and talent,” said GENBAND chief executive Charles Vogt in a statement. “By creating one of the most comprehensive, standards-based, interoperable switching portfolios in the world, we will facilitate the industry’s massive and ongoing efforts to modernize networks, maximize existing investments and converge fixed and mobile infrastructures across disparate networks.”

GENBAND has acquired Nortel’s softswitches, media gateways and application platforms and will combine the technology with its own media, session and security gateways, the company said.

The deal means GENBAND will now have strategic product and support facilities in Ottawa, North Carolina, Massachusetts, Maidenhead, Shanghai and Beijing, as well as strategic partners in India and Turkey.

GENBAND paid US$282 million, with balance sheet and other adjustments reducing the net purchase price to $182 million.

The company noted it bought the CVAS business with the help of existing shareholder One Equity Partners, a private equity firm.

“Today’s announcement represents another successful milestone while preserving Nortel’s carrier VoIP technology innovation and base of highly skilled employees,” said Nortel’s chief strategy officer George Riedel. “The sale of our CVAS business to GENBAND enables our global service provider customers to continue to benefit from Nortel’s industry-leading carrier VoIP and telephony expertise and long-standing track record in transitioning time-division multiplexing networks to VoIP.”

GENBAND was originally supposed to be the initial bidder in an auction of the CVAS business, but in February Nortel said it would instead sell the division directly to the U.S. company.

http://www.obj.ca/Technology/2010-05-28/article-1183291/Nortel-wraps-up-sale-of-CVAS-business-to-GENBAND%3B-almost-400-Ottawa-jobs-preserved/1

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Canadian economy grows 6.1% in first quarter

Posted by sweens on May 31, 2010

The Canadian economy was roaring in the first quarter, jumping ahead of even the rosy estimates of economists to post an oversized 6.1 per cent annualized advance during the first three months of 2010.

It was the largest quarterly expansion in more than a decade.

The number doubled what the U.S. economy managed to produce and bettered the consensus forecast for a 5.8 per cent increase.

As significant was that output in March, the last month of the quarter, advanced 0.6 per cent from February, giving the economy a strong hand-off to the second quarter.

With the Bank of Canada scheduled to make a decision on interest rates on Tuesday morning, the gross domestic product data is expected to add to the pressure on governor Mark Carney to move rates higher for the first time in about three years.

“It would take some fancy footwork for the Bank of Canada to pass on hiking rates tomorrow after the Canadian economy just doubled the U.S. quarter-one growth pace,” Scotiabank economists Derek Holt and Karen Cordes Woods wrote in a note.

“This is the strongest growth pace witnessed since 1999 and it is the latest evidence of how the Canadian economy and Canadian markets are outperforming much of the rest of the industrialized world.”

They noted that the level of the economic activity in Canada is now roughly back to where it stood prior to the recession taking hold in the fourth quarter of 2008.

One a quarter-over-quarter basis, GDP advanced 1.5 per cent following a 1.2 per cent increase in the fourth quarter.

Statistics Canada credited consumer spending, housing and manufacturing for the stellar results, but all industries were solidly in the plus column.

While markets expected a strong result, the oversized growth pushed the Canadian dollar up more than three-quarters of a cent to 95.89 cents US in light early trading. U.S. markets were closed for Memorial Day on Monday.

Economists caution that the torrid pace of growth cannot continue, and with European woes weighing down global prospects, the moderation in Canadian output may have already begun.

“We are of the view that much better-than-expected consumer spending and housing market performances so far this year came at the expense of future growth,” said TD Bank’s Diana Petramala.

“The recent spending spree has left consumers even more fatigued and highly indebted than ever. As interest rates begin to rise (as early as this week) and households have to devote a greater share of their income to servicing their debt, this may well constrain future consumer spending growth.”

http://www.obj.ca/Canada—World/2010-05-31/article-1196324/Canadian-economy-grows-6.1%25-in-first-quarter/1

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HST and You….

Posted by sweens on May 19, 2010

Starting July 1st, 2010, the federal GST in Ontario and British Columbia will be combined with the PST to be a value added harmonized tax (HST). Under the new HST, most goods and services will be subject to 13% tax in Ontario and 12% tax in British Columbia.

What does this mean?

Where the service is being provided in a non-harmonized province or a province which is already harmonized (i.e. NS, NB and NFLD), there will be no impact to your current process.

In order to ensure that the correct tax rate is used, please use the following as a guideline:

If the goods/services are supplied before July 1st and the service is being provided in ON or BC:

  • Please be sure to submit all hours and appropriate authorized paperwork (if applicable) worked up to June 30, by July 5
  • Please submit all expenses reports incurred for June or prior by July 5. Do not include any receipts post June 30th.

If the goods/services are supplied on or after July 1st and the service is being provided in ON or BC:

  • Your invoice date should be no earlier than July 1st
  • the “GST or HST Amount” on any invoice submitted should reflect 13% HST for ON or 12% HST for BC

What do I need to do?

Businesses that are registered for the GST would automatically be registered for the HST and, as a result, would continue to use their current GST/HST account number for HST. There would be no need to provide any new documentation for your current contract with Procom.

For full details and more information please click on the following:

http://www.cra-arc.gc.ca/gncy/hrmnztn/menu-eng.html

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Nortel sells its joint venture with LG Electronics for US$242M

Posted by sweens on April 29, 2010

Another piece of the former Nortel Networks empire has been sold, with the Canadian company’s interest in a Korean operation going to LM Ericsson for US$242 million.

Nortel announced the sale of its 50 per cent plus one share interest in LG-Nortel Co. Ltd., the company’s joint Korean venture with LG Electronics Inc., late Tuesday.

The agreement marks the sale of one of only a few remaining assets of Nortel, formerly Canada’s biggest information technology company and once a leading global vendor of telecommunications equipment.

Still remaining are a variety of patents and Nortel’s Passport division, which provides non-optical equipment and was a piece of the Metro Ethernet Networks division that did not sell to Ciena Corp. in a US$521-million transaction last year.

A spokeswoman for Nortel said it’s still unclear what will happen to the remaining assets, which would also include potential tax-loss recoveries that could be used by a profitable company.

“Nortel will assess other restructuring alternatives for its remaining businesses in the event it is unable to maximize value through sales,” said Nortel representative Jamie Moody in an email.

LG-Nortel was established in 2005 to provide telecommunications equipment and network solutions to customers in Korea and around the world.

The sale is subject to approval of the Ontario Superior Court of Justice and must meet certain regulatory conditions.

Earlier this month the financially battered Nortel received another extension to its creditor protection to the end of July, in order to give the fallen Canadian technology company more time to complete a court-supervised restructuring.

The company filed for court protection in the United States, Canada and other jurisdictions in January 2009, and has since sold most of its major operations to former rivals.

At its peak during the 1999-2000 technology boom, Nortel was Canada’s most valuable company after the telecom equipment maker went through several years of rapid expansion and diversification funded by debt and stock sales.

But starting in 2001 Nortel suffered a precipitous decline in sales, due to a combination of factors including the merger or demise of many of its customers, economic slowdowns and an accounting scandal.

 http://www.obj.ca/Technology/2010-04-21/article-1032689/Nortel-sells-its-joint-venture-with-LG-Electronics-for-US%24242M/1

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RIM faces tough challenge to impress at annual symposium

Posted by sweens on April 29, 2010

The heat is on BlackBerry-maker Research In Motion as the company heads into its annual industry showcase of new products and services in what will perhaps be the most competitive year yet for smartphones.

The Waterloo, Ont.-based company opens a three-day annual showcase on Tuesday in Orlando, Fla., and it’s expected to update some devices, add new products and partnerships, and perhaps offer a few surprises.

There are rumours that RIM will announce an updated web browser, designed to compete with Apple’s popular iPhone, and perhaps even a new operating system.

“In the evolution of the company, this is going to be a very important year, for sure,” said Neeraj Monga, an analyst for Veritas Investment Research Corp.

“People are either going to give credit to the company that it can out-compete and out-innovate Apple, or they’re going to give up and say ‘BlackBerry had a great run, but it’s another one of those technology businesses that has matured and just cannot keep up with its innovative competitors.’”

Whether this year is literally such a sink-or-swim scenario for RIM is debatable, but it’s hard to deny the company is facing some of its fiercest competition yet.

In the past year, both the iPhone and Google’s Android smartphones have gained notable share in North America’s smartphone market, an area that was once clearly dominated by RIM’s BlackBerry products.

While RIM was able to add on its solid base within the business and government communities by adding consumer-friendly features to various BlackBerry models, RIM has been under plenty of scrutiny.

Critics say RIM has been slow to develop a new web browser for its devices that can compete with some of the more user-friendly designs on the market.

However, the highly competitive market is more complex than simply a new browser, as smartphone pioneer Palm learned last year when it unveiled a new browser design to critical raves.

Palm’s stock has fallen to multi-year lows, and recent reports have suggested that Palm has hired Goldman Sachs to help shop the company to potential buyers for about US$1.1 billion.

Despite the turbulence in smartphones, which usually include keys for text entry as well as phone calls, BlackBerrys remain the dominant smartphone in North America, and among the biggest sellers globally.

Broadpoint AmTech analyst Mark McKechnie said there are two ways to digest the company’s position in the market.

“They’re certainly showing tremendous growth outside of the U.S. as they bring smartphones to lower price points,” he said from Orlando, where he planned to attend the symposium.

“We need to see them bring the fight back here to the U.S. and regain their positioning at the high-end (or higher-priced devices).”

While most of RIM’s plans will not be unveiled until the conference gets underway, the company offered up its usual tease of product announcements ahead of the launch.

The highlights included a 3G version of its Pearl device and a BlackBerry Bold that works on CDMA network carriers.

Most of the most-anticipated announcements are expected when co-CEO Mike Lazaridis delivers a keynote address during the conference. The company’s stock price will likely show whether investors are impressed.

On Monday morning, RIM’s stock was down 80 cents to $69.78 on the Toronto Stock Exchange, off a 52-week high of 95 and low of $58.64.

In an interview ahead of the conference, co-CEO Jim Balsillie defended the company’s position on the market.

“Wind the clock back and I can give you 10 other companies that were put forward that were just overwhelmingly formidable for us to even consider competing against,” Balsillie said.

“There’s always somebody that somebody’s going to put out.”

- By David Friend, The Canadian Press

http://www.obj.ca/Technology/2010-04-26/article-1039167/RIM-faces-tough-challenge-to-impress-at-annual-symposium/1

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The end of an era…

Posted by sweens on March 31, 2010

Yesterday marked the end of an era for me. I rushed out of work in order to get to my hockey game on time. I took the usual drive down Carling Avenue and made the right hand turn onto Moodie Drive so I could catch the 417. Traffic seemed slower then normal though on Moodie and as I slowly moved up the road I saw what the hold up was. A large utility truck was parked on the right side with a crane adjusting the old Nortel sign.

Unfortunately they were not performing repairs on this sign. They were taking it down. The sign which for so many years has said Nortel was no longer there. It has been replaced by several smaller signs representing the companies that have bought divisions of Nortel like Ericsson and Avaya.

This to me was truly a symbolic end to the once upon a time Telecomm giant; a building, campus and culture known to many in the Ottawa area as a significant landmark in the city’s West end.

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So I ‘GOOGLEd’ myself…

Posted by sweens on March 24, 2010

The great thing about having my blog hosted through WordPress is that it tells me what search strings people have used to eventually lead them to my blog.  So I thought I would try one out and I ‘GOOGLEd’ my own name.  I was happy to see that my blog was now the first search GOOGLE was able to display. 

I think I am going to count this as a small victory in the world of blogging.  Others might refer to is as ‘egosurfing’ but I assure that my intentions for ‘GOOGLing’ myself were not to boost my own ego.

Some would suggest that searching yourself frequently is a good thing to monitor the view you have created for yourself on the web.  I know when I searched my name the options for ‘Tom Sweeney’ were endless as I am clearly not the only person with this name but there are many people with this name on Facebook, LinkedIn, Plaxo, ZoomInfo, etc.

Try it – let me know what you find…

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