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CHHMA NEWS

CHHMA - EYE ON OUR INDUSTRY
Volume 12, Issue 34, September 12, 2012

Inside This Issue:

Register and/or Donate Items for the 11th Annual Industry Memorial Golf Classic
Robert Dutton Breakfast Meeting to be Re-scheduled 
Are You and Your Fellow Employees Taking Advantage of Potential Savings on Home and Auto Insurance?  
HARDLINES Introduces New Retail Innovation Award  
Dollarama Profit Jumps 32% in Second Quarter
Toronto Condo Projects Spark Increase in Housing Starts
New Mortgage Rules Will Cool Housing Market
Building Permits Down 2.3% in July
Latest Jobs Growth Blows Past Expectations but Overall Trend Still Modest 
Canadian Trade Deficit Rises to Record High in July
Moody’s Warns on High Canadian Debt Loads
 

Association News



Register and/or Donate Items for the 11th Annual Industry Memorial Golf Classic 
 
The 11th Annual Industry Memorial Golf Classic taking place on Tuesday, October 2nd at the Blue Springs Golf Club in Acton, Ontario.  The event is held on behalf of the hardware and housewares industry and it honours stalwarts from the industry who have passed away.  This year’s honourees are:  Bill Caldwell – Founder of Moldex Limited and United Extrusions, Brayl Copp – Former Owner and President of Copp’s Buildall, Ed Hardison – Worked for Moldex Limited and was President of the Canadian Institute of Plumbing and Heating (1986-2002), and Stuart North – Worked at Techtronics Industries Canada Inc. as Director of Operations.  Whether you plan to attend or not, consider donating an item or items for the silent auction.  Read More >> 



Robert Dutton Breakfast Meeting to be Re-scheduled   
 
Unfortunately, the CHHMA breakfast meeting with RONA’s Robert Dutton that was scheduled for October 23rd at the Hotel Mortagne in Boucherville, Quebec has had to be postponed due to a conflict with Mr. Dutton’s schedule. The CHHMA is working to re-schedule the breakfast meeting with Mr. Dutton for a later date.



 
Are You and Your Fellow Employees Taking Advantage of Potential Savings on Home and Auto Insurance?
 
Did you know being a member of the CHHMA (includes all employees of CHHMA member companies, their spouses and dependent children residing at home or away at school) gives you access to exclusive group rates for home and insurance through the Association’s group plan with Economical Select?  In addition to the group rate, CHHMA members may be eligible for extra discounts that could save you up to 60% off your insurance premiums.  Many members are already receiving significant savings through the Association plan, so why aren’t you?  Read More >> 

 
Industry News
 
HARDLINES Introduces New Retail Innovation Award  
 
HARDLINES has developed a new award to honour excellence in retail innovation within Canada’s hardware and home improvement industry called the Mark Robichaud Award for Retail Innovation.  The award has been named in honour of one of the home improvement industry’s pioneers. Marc Robichaud was the owner of UJ Robichaud TIM-BR Mart, a fifth-generation family business in Meteghan Centre, Nova Scotia. He died on January 10, 2012, after a brief battle with lymphoma at the age of 36. The Award will be presented at the 17th Annual Hardlines Conference, Oct. 25, 2012 at the Sheraton Toronto Airport Hotel.  Read More >>      

 
Dollarama Profit Jumps 32% in Second Quarter  
 
Dollarama Inc. reported on Wednesday a net profit of $49.8 million in its second quarter, up 32% from the comparable period last year, as the Montreal-based discount retailer benefited from higher sales and thicker profit margins.  Read More >>       
 


Economic News
 
Toronto Condo Projects Spark Increase in Housing Starts  

Canadian housing starts rose 8.1% unexpectedly in August from July as a few large condo projects in Toronto, presold in late 2010 and early 2011, broke ground, the Canada Mortgage and Housing Corporation (CMHC) reported on Tuesday.  The seasonally adjusted annual rate of housing starts was 224,900 units in August, up from 208,000 units in July. Analysts were expecting starts to slow to 200,000 units.  Read More >>


 
New Mortgage Rules Will Cool Housing Market 
 
The mortgage insurance rule changes that took effect in July will shave three percentage points off home prices and five percentage points off sales, TD Bank chief economist Craig Alexander said in a report released last week.  The Toronto and Vancouver housing markets have cooled recently in the wake of Ottawa’s latest move to stop a housing bubble, with many first-time buyers being knocked out of the market.   But in the report, TD says interest rate increases are also necessary to really tackle the imbalances that have developed in the Canadian housing market. Absent rate hikes, consumers still have a strong incentive to take out large mortgages, which help to fuel the overvaluation in prices.  Read More >>


 
Building Permits Down 2.3% in July 
 
Statistics Canada said last Friday that municipalities issued building permits worth just over $6.8 billion in July, down 2.3% from June but 4.5% higher than in July 2011.  The monthly decline was led by lower construction intentions for both residential and non-residential buildings, particularly in Ontario.  Read More >>  


 
Latest Jobs Growth Blows Past Expectations but Overall Trend Still Modest  
 
Statistics Canada reported last Friday that Canada’s economy added a surprising 34,300 jobs in August, after a similar decline the previous month, however, most of the gains were in part-time positions.  The unemployment rate remained unchanged at 7.3%, as more Canadians began looking for work.  Most economists had expected an increase in the range of 10,000 jobs, after a drop of 30,400 positions in July.  Read More >>   
 

 
Canadian Trade Deficit Rises to Record High in July  
 
Canada posted its largest trade deficit on record in July as crude oil exports tumbled and imports from the U.S. remained near record highs, according to Statistics Canada data released on Tuesday.  The high dollar and the global slowdown continue to negatively influence Canada’s trade dependent economy.  The overall deficit grew to $2.34 billion from a revised $1.93 billion deficit in June. It was the biggest trade gap by a slim margin over September 2010’s deficit of $2.33 billion.  Read More >> 
 


Moody’s Warns on High Canadian Debt Loads        

There is more than a 20% risk of Canada falling into a second recession — and though much of that risk comes from outside our borders, Canadians’ sky high debt loads could push the economy over the edge, warns a new report from Moody’s Analytics.  Read More >>   
  

 Upcoming CHHMA Events 

CHHMA Go Kart Night
Thursday, September 13, 2012
Circuit ICAR Motorsports Complex, Mirabel, Quebec

Industry Memorial Golf Classic
Tuesday, October 2, 2012
Blue Springs Golf Club, Acton, Ontario

Industry Cocktail
Thursday, December 13, 2012
“W” Hotel, Montreal, Quebec 

Canada Night
Sunday, March 3, 2013
InterContinental Hotel, Chicago, Illinois

CHHMA Spring Conference & AGM
Wednesday, April 10, 2013
International Centre (Conference Facility), Mississauga, Ontario

CHHMA Maple Leaf Night
Tuesday, May 7, 2013
The Mirage Hotel & Casino, Las Vegas, Nevada

CHHMA Ontario Golf Tournament
Tuesday, May 28, 2013
Angus Glen Golf Club, Markham, 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

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