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Higher Liner Foods is a Nova Scotia based company that is North America's largest processor of value-added frozen seafood products under a number of brands like Fisher Boy, High Liner and Catch of the Day. Its annual revenue exceeds $1 billion annually and the company has 1,200 employees. Athough it is listed on the TSX, the Hennigar family owns 38% of the stock. It recently celebrating its 125th Anniversary.
In this episode of the Insights Podcast, we talked with the company's CEO, Paul Jewer,about the company's success and how it pivoted from being a harvester of fish to exclusively a processor of fish following the cod moratorium in the 1990s. The company sources 20 species of fish from around the world for its three processing plants, the largest of which is in Lunenburg with nearly 300 employees. It is yet another story of a successful Atlantic Canadian company competing internationally and generating export revenues for our region.
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Atlantic Business Magazine is celebrating the 35th Anniversary of its founding by Edwina and Hubert Hutton who sold the magazine to their daughter Tonia Hutton and long-time employee and editor Dawn Chafe a few years ago. The Huttons were a dynamic force who built the Atlantic Business brand together. Edwina recently passed away and we dedicate this podcast to her memory as an outstanding businesswoman. Atlantic Business is now one of the last print publications owned and operated by Atlantic Canadians. Most print publications have struggled with the fragmentation of news coverage and the growing dominance of social media, especially in terms of the competition for advertising revenue. Atlantic Business has demonstrated its ability to adapt to a rapidly changing market environment by developing not just a magazine but a business network enterprise that has established a number of signature business recognition programs and events that now contribute about a third of their annual revenues. Atlantic Business has led the fight to highlight and recognize business success since its very beginnings. It is a great story of resilience and perseverance.
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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.
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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.
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Donald Savoie is back on the Insight's podcast talking about his new book Speaking Truth to Canadians about their Public Service. This is a sobering reflection on the state of the federal civil service in Canada written by someone who has spent his career studying government in Canada. The number of the federal civil servants has grown substantially in recent years while Canadians' satisfaction with public services has gone down. Forty years ago, around 25% of the workforce was located in Ottawa and now it is closer to 50%. Unfortunately, there is no easy solution to the challenge, but this book represents a good starting point diagnosing the main issues and detailing how previous governments tried to increase the effectiveness of the civil service. It is vitally important for Canada to have an effective public service with a motivated and engaged workforce. This conversation is well worth an hour of your time.
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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.
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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.
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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.
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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
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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.
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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.
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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.
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Our latest Insights Podcast features a conversation with Peter MacAskill, the CEO of Invest Nova Scotia. Invest Nova Scotia is the new provincial agency that emerged from the merger of Innovacorp and Nova Scotia Business Inc. Our conversation focuses on a number of Invest Nova Scotia's principal activities, including its Start-Up Investment Fund, a venture fund with investments of $65 million to date and $100 million available for new opportunities. Invest NS is focused on the clean tech, ocean tech, ag tech, life sciences and IT sectors. We also discuss its Innovation Rebate Program for capital investments to improve productivity, a fund to provide a 25% contribution up to a $15 million capital investment, and its accelerator programs and incubation services. Invest Nova Scotia is working closely with Dal's Creative destruction Labs and COVE, both previous guests on the podcast.
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In Part II of our Insights Podcast with Scott McCain, the Chair of the Board of McCain Foods, we focus on his own businesses including his ownership of the Saint John Sea Dogs, a twenty-year labour of love, and his involvement in Seafort Capital as one of the founding shareholders. We also talk about his volunteer interests, including his work with the Fraser Institute as one of its Atlantic Ambassadors. It is an interesting conversation.
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Our guest this week on the Insights Podcast is the affable Scott McCain, the Chair of the Board of McCain Foods, the largest potato processing company in the world. This is first part of a two-part podcast which focuses on the McCain story, how it started in rural New Brunswick and grew internationally to have 60 production facilities and have its products in 160 countries. It all started in the late 1950s with Harrison and Wallace (Scott's father) McCain and their two other brothers in Florenceville, New Brunswick. The company now has 23,000 employees worldwide, of which 1,600 continue to work in New Brunswick, including nearly 500 head office jobs. The company is the largest employer in both Florenceville and Grand Falls. Scott talks about the company's growth strategies over the years, the expansion of its product lines and some of the challenges of running a large global business. This is a rare conversation with a member of the McCain family that you won't want to miss. Next week, the podcast will focus on Scott McCain's personal business and community interest, including his ownership of the Saint John Sea Dogs, another equally interesting conversation.
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On the Insights podcast this week, Don and David talk with Ryan Albright, Founder and CEO of the Covered Bridge Potato Chip Company. After a tragic fire in March 2024, the company is rebuilding bigger and better. In Hartland, New Brunswick, Albright has built the largest russet potato-based chip manufacturing company in North America and is exporting product around the world. He has dreams of building an even larger potato chip empire reminding us of a young Wallace McCain or Glenn Cooke. You will be inspired by this story of grit, leadership and entrepreneurial ambition.
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Fred Bergman, Senior Policy Analyst at the Atlantic Economic Council joins us today on the Insights podcast to talk about an important new report written by the organization. The report provides an assessment of the economic impacts of Indigenous communities and businesses across Atlantic Canada. The Indigenous economy is worth $6.2 billion to the region and supports some 89,000 jobs across the four provinces . Fred provides a good overview of the economy and workforce and weighs in on some of the challenges and opportunities facing the community in the years ahead.
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Travis McDonough may not be widely known in Atlantic Canada but he is very well known by the MLB, NBA, CFL, MLS, NHL and NFL and many of their leading star players. Travis and his partners developed Halifax-based Kinduct, a tech application that uses personal data to help monitor and improve the performance of professional athletes, including the best way to rehab injured players. Prior to Kinduct, he built a string of multidisciplinary health clinics and fitness centres, including one of Europe's largest custom orthotics suppliers, during a decade living in Ireland. When he sold his clinics and returned to Halifax, he used his expertise as a licensed chiropractor to develop the app for athletes. Kinduct was sold in 2020 for more than $70 million reportedly to mCube (now Movella) a Silicon company. He is now in a new tech start-up, based also in Halifax, called Wellnify that is focussed on improving community health using gamification. In this interesting podcast, he also talks about overcoming his learning difficulties growing up. His story will be an inspiration to others looking to grow businesses from Atlantic Canada.
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This week on the Insights podcast, Don and David speak with Peter Moreira about the 2023 Atlantic Canada Startup Data Report. Peter's firm, Entrevestor, publishes this report each year covering more than 800 tech-based locally-owned companies across the region. There was good and bad news in the report. Combined revenues are up but employment growth has flatlined. Angel investment has been soft making it hard for companies to scale. Peter provides his thoughts on the near term prospects for tech companies in the region. To download the report and follow Entrevestor's daily news feed visit www.entrevestor.com.
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Don and David join Shelley Snodgrass, VP of Sales at Acadia Broadcasting, to review the highlights and learnings from their guests over the last 6 months. It is an optimistic discussion about the opportunities and successes happening in Atlantic Canada, as well as a future look into the challenges that the region continues to face. Take a listen to learn what motivates the Insights hosts to educate and influence the discussions of our region, and a sneak peek into some new projects.
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