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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY
Volume 16, Issue 38, October 5, 2016

Inside This Issue:

• Register Now: One-Day Seminar on the Secrets of Power Negotiating® and Developing Persuasive Proposals Close to Selling Out!
• Join Us in Montreal for the TIMBER MART (Bernie Owens) Breakfast Seminar on October 26th
• Beautiful Day at the 15th Annual Industry Memorial Golf Classic
• Reminder: ÉEQ Reports for 2015-2016 Schedule of Contributions Due by October 11th
• New Pavilion to Spotlight Smart Home & Connected Products at the 2017 International Home+Housewares Show
• Sears’ Craftsman Said to Draw Interest from Black & Decker, TTI
• Costco to Expand Aggressively in Canada Over the Next Year, Adding Seven Stores in Fiscal 2017
• Federal Government Closes Tax Loophole Used by Foreign Home Buyers, Hikes Mortgage Scrutiny
• Construction Jobs to Soar in Toronto by 2031
• IMF Trims Canada’s Growth Forecast Due to the U.S.
• Canada’s Economy Surges for Second Month, Bolsters Outlook
• Canadian Retail Sales Cool Off
• Latest U.S. Economic News


Association News

Register Now: One-Day Seminar on the Secrets of Power Negotiating® and Developing Persuasive Proposals Close to Selling Out!   

The CHHMA has organized an information-packed one-day learning program that will provide attendees with proven strategies and tips to help improve your negotiating and business proposal development skills.

Don’t delay – register NOW, attend, and get the expert advice and insights you need to improve business results, profitability, and outcomes!

One-Day Learning Program Divided Into Two Sessions:

Morning Session: Secrets of Power Negotiating® – Key Insights for Improving Negotiating Effectiveness

Afternoon Session: Developing Persuasive Proposals  Read More >>



Join Us in Montreal for the TIMBER MART (Bernie Owens) Breakfast Seminar on October 26th  

The CHHMA is pleased to be presenting Mr. Bernie Owens, President of TIMBER MART, at a CHHMA Breakfast Seminar on the morning of October 26 at the Hôtel Holiday Inn Montréal-Longueuil.

Mr. Owens began his career in the building-supply industry over thirty years ago, serving a long tenure at building-material manufacturer, CertainTeed – a subsidiary of multinational corporation, Saint-Gobain.Throughout his 21 years at CertainTeed, Mr. Owens served various roles including, General Manager - Finish Products for North America and Vice President of Sales for the company’s gypsum and insulation business units. Over the years, Owens adopted global best practices and fostered relationships with buying groups and building-material suppliers nationwide. Owens also went on to further his studies in business at international business school, INSEAD and York University’s Schulich School of Business.

Today, as the president of TIMBER MART, Mr. Owens leads the organization with a global industry perspective, fresh ideas, clear vision, and a relentless drive to make TIMBER MART the buying group of choice for Canadian independent building material and hardware entrepreneurs.

We look forward to hearing from Mr. Owens and his inside look into how he’s led TIMBER MART through some of their biggest organizational changes over the last three years. He'll explain how he’s leveraged change for TIMBER MART to become a best-in-class organization today – and supports Canadian independent entrepreneurs with a buying group that is better, faster and lower cost than ever before.

After the presentation, there will be a Question and Answer Period. Mr. Owens will also be accompanied by members of his management team.  

Click here for all the details and to register.



Beautiful Day at the 15th Annual Industry Memorial Golf Classic

The 15th Annual Industry Memorial Golf Classic took place last Tuesday, Sept. 27, at the Blue Springs Golf Club in Acton, Ontario.

Golfers were treated to a beautiful sunny day on the challenging course and enjoyed their time with colleagues, customers and friends from the industry. Once again, we had great support from the management team and buyers of Home Hardware - many of who were in attendance.

This event honours stalwarts from the hardware & housewares industry who have recently passed away and this year’s honourees were David Holden, Leonard Lee and Warren Parr. As always, all past honourees were remembered as well.

After golf, an afternoon dinner and silent auction was held to raise money for the CHHMA Scholarship Program and we would like to thank all the companies who provided items for the auction and individuals who bid on them.  In addition, money was raised from hole sponsorship (thank you sponsors!) and the purchase of event passports that allowed participants to enter into all the hole competitions and draws.  As a result, a number of skilled and lucky folks walked away with some great prizes.

Most importantly, we were there to remember the honourees. We were joined on the day by David Holden’s wife Theresa and several colleagues of Dave’s from Hamilton Beach who talked about their good times working with him over the years. Bill Wilson, a long-time colleague of Warren Parr was on hand to share his fond memories of working with Warren at D.H. Howden and although they were unable to attend, Leonard Lee’s son Robin (current President & CEO of Lee Valley Tools) passed on his appreciation on behalf of the family for the industry taking the time to honour Leonard at the event.



Stewardship News

Reminder: ÉEQ Reports for 2015-2016 Schedule of Contributions Due by October 11th

Éco Entreprises Québec (ÉEQ) would like to remind stewards that they have until October 11 to submit their Company Report for the 2015-2016 Schedule of Contributions in the ECO-D system.  The deadline for making the first installment* for your 2015 Company Report is November 13.

Also, companies and organizations subject to the compensation plan are invited to participate in one of two ÉEQ consultation meetings on the 2017 Schedule of Contributions in October (Montreal: Oct 25; Toronto: Oct 27). It will be the ideal time to ask questions and give your opinion regarding the Schedule of Contributions before it is submitted to the government.  Read More >>



Industry News

New Pavilion to Spotlight Smart Home & Connected Products at the 2017 International Home + Housewares Show


The International Housewares Association (IHA) would like to pass on some exciting news regarding the 2017 International Home + Housewares Show, taking place in Chicago at McCormick Place from March 18-21, 2017.

New to the show next year will be a special pavilion called the IHA Smart Home Pavilion which will feature smart home and connected products as well as displays and presentations providing insights into smart home products and developments.  Read More >>  



Sears’ Craftsman Said to Draw Interest from Black & Decker, TTI

Sears Holdings Corp.’s sale of its Craftsman tool business has attracted bidders including Stanley Black & Decker Inc. and Hong Kong’s Techtronic Industries Co., people with knowledge of the matter said. Other companies such as U.S.-based Apex Tool Group and Sweden’s Husqvarna have also explored possible offers for Craftsman, according to the people.

Final bids, which may value the brand at about $2 billion (U.S.), are due at the end of the month, said the people, who asked not to be identified because the information is private.There’s no guarantee that the potential suitors will decide to proceed with a formal proposal, the people said.  Read More >>



Costco to Expand Aggressively in Canada Over the Next Year, Adding Seven Stores in Fiscal 2017

Costco is aggressively stepping up its expansion in Canada after years of strong success in this market, a move likely to put even more of a squeeze on traditional grocers such as Loblaw and Sobeys.

The U.S. warehouse club giant, which has annual sales of close to $21 billion in Canada and 91 stores across the country, will open seven new stores in fiscal 2017, the company revealed on its fourth quarter conference call with analysts last Friday — about double its most robust annual rate.

“I think the fact that we are opening so many right now has to do with very strong sales over the last few years,” said Richard Galanti, the retailer’s executive vice-president and chief financial officer, said during the call last week.  Read More >>



Government & Legislative News

Federal Government Closes Tax Loophole Used by Foreign Home Buyers, Hikes Mortgage Scrutiny


The federal government is taking aim at slowing Canada’s overheated housing market with new measures, including closing a tax loophole used by foreign buyers and stress testing more domestic mortgages.

Finance Minister Bill Morneau announced the changes during a conference Monday, describing them as a way to ensure that the country’s housing market remains stable and affordable for Canadian buyers. Morneau also said that the federal government is now in consultation with “market participants” about finding ways for lenders to take on more of the risk in the current mortgage market.

“Currently, lenders are able to transfer virtually all of the risk of insured mortgages to mortgage insurers, and indirectly to taxpayers through the government guarantee,” the government said in a news release.

In a press conference, Morneau avoided referring directly to foreign buyers, but a tax loophole that had allowed some to avoid paying capital gains taxes as their homes appreciated in value is also being closed. Morneau said that foreign buyers who were not residents at the time a home was bought will no longer be able to claim a principal residence exemption, and that families will only be able to designate “one property as the family’s principal residence for any given year.”  Read More >>   



Economic News

Construction Jobs to Soar in Toronto by 2031


Over the next 15 years, the Toronto area will need almost double the number of construction workers it currently has in order to accommodate new infrastructure projects along with an aging workforce, says a new report by the Toronto Region Board of Trade.

The study released Tuesday, says the GTA will see an estimated jump of about 147,000 construction-related jobs – both part-time and full-time – by 2031 to work on everything from transit and roads to shopping centres, hospitals, schools and housing. There are currently about 175,000 construction-related jobs in the GTA.

For instance, the number of new residential dwellings required in the region will likely exceed 800,000 units, the report says, worth $230 billion in construction investment.

Over the next 15 years, approximately 118,000 workers are needed for $214 billion worth of planned construction activity, and another 29,000 workers are needed to replace those expected to retire.  Read More >>  



IMF Trims Canada’s Growth Forecast Due to the U.S.

The International Monetary Fund (IMF) has lowered its estimates for Canadian growth in 2016 and 2017, pointing to a weaker U.S. economy than projected earlier this year.  The IMF is now forecasting Canada’s GDP will grow by 1.2% this year and 1.9% next year. Both estimates are 0.2 percentage points lower than an IMF outlook issued in July. Among other things, it says Canada has been negatively affected by unexpected weakness in the United States.  Read More >>



Canada’s Economy Surges for Second Month, Bolsters Outlook

Canada’s GDP surged for the second straight month in July, bolstering confidence that the economy is back on track after a slumping spring marred by the Alberta wildfires.

Statistics Canada reported last Friday that real (inflation-adjusted) GDP rose 0.5% per cent in July, adding to June’s 0.6% gain – marking the strongest two-month run for GDP growth in nearly five years. The strong July result was driven chiefly by a continued recovery in oil production and petroleum-product manufacturing, following the devastating wildfires that crippled Alberta’s huge oil sands region throughout May and into early June.

Economists had anticipated that the economy would benefit from the bounce back in the Alberta energy sector, but the July GDP gain nevertheless exceeded their consensus estimate of 0.3%.  Read More >>



Canadian Retail Sales Cool Off

Total Canadian retail sales were up only 0.2% in July 2016 from the same month a year ago, according to the latest numbers from Statistics Canada and on a not seasonally adjusted basis. This was the lowest such gain for any month so far this year, and well off the 4.5% overall retail sales increase for the first half of 2016. It appears that the bloom is off the rose going into the back half of the year.

The 3 month trend softened appreciably in July. As a result, the underlying 12 month trend has now flattened and is in danger of heading down.

Many different store types experienced this reversal of fortune in July. The same pattern also occurred in every province and region. Such widespread effects imply that overall Canadian economic conditions are to blame, which does not portend well for the rest of 2016.  Read More >>   
     


Latest U.S. Economic News  
       

U.S. consumer spending unexpectedly fell in August for the first time in seven months while inflation showed signs of accelerating, mixed signals that could keep the Federal Reserve cautious about raising interest rates.

U.S. economic growth was less sluggish than previously thought in the second quarter as exports grew more than imports and businesses raised their investments, hopeful signs for the economic outlook.

Contracts to buy previously owned U.S. homes dropped in August to their lowest level since January, a warning sign for the economy as the industry struggles to boost supply.  Read More >>                     
 
  

 Upcoming CHHMA Events 

Bernie Owens (TIMBER MART) Breakfast Seminar
Wednesday, October 26, 2016
Hôtel Holiday Inn Montréal-Longueuil, Longueuil, Québec

Secrets of Power Negotiating & Developing Persuasive Proposals One-Day Seminar
Featuring Negotiating Expert Michael E. Sloopka

Wednesday, November 23, 2016
Corporate Event Centre at CHSI, Mississauga, Ontario

CHHMA Industry Calendar

To register for all events visit our website at www.chhma.ca or call Pam Winter at (416) 282-0022 ext.21.


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"Eye On Our Industry" is published by the CHHMA as an information resource for our members. Member input regarding content and format is welcomed. Please contact Michael Jorgenson by email: mjorgenson@chhma.ca, or call at (416) 282-0022, ext. 34. CHHMA is located at 1335 Morningside Ave., Suite 101, Scarborough, ON, M1B 5M4 www.chhma.ca

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Canadian Hardware & Housewares Manufacturers Association | 1335 Morningside Ave., Suite 101, Scarborough, ON M1B 5M4
Telephone: (416) 282-0022   Email: pwinter@chhma.ca