B 07 Dec-28-13 FP 01 · CMY K PAGEB7 BUSINESS...
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C M Y K PAGE B7 BUSINESS EDITOR: SHANE MINKIN 204-697-7308 [email protected] I MARKET DETAILS B8 I winnipegfreepress.com SATURDAY, DECEMBER 28, 2013 B7 J ORDAN Vedoya still needs a couple of credits to graduate from the Asper School of Business, but he can already lay claim to being a business trailblazer — he’s opened the first storefront e-cigarette shop in Winnipeg. Fat Panda Vape Shop opened on Notre Dame Avenue about a week be- fore Christmas. The articu- late, soft-spoken Vedoya took plenty of time explaining the product to a regular stream of customers coming through his shop one afternoon after Christmas. “I’m passion- ate about the product,” Ve- doya said. “I started using it in September and it changed my life so drastically I want- ed to share it with others.” E-cigarettes have been on the mar- ket for about five years but because the products exist in a grey market area when it comes to Health Can- ada’s seal of approval, retailers have to be coy. Vedoya said he is not able to sell it as a smoking cessation de- vice. “Smoking is popular,” he said. “The product speaks for itself. If you are able to switch from smoking to this, then good for you.” Fat Panda sells re-chargeable units that vaporize a food-grade vegetable glycerin and propylene glycol mix- ture. The mixtures come in a sur- prising range of flavors from Smooth Canadian Tobacco to Grandma’s Apple Pie. The vaporizers cost between $25 and $120. Vedoya said he wasn’t planning to open until the new year when more of his stock was scheduled to arrive, but when he was testing the signage people started coming in, so he’s up and running and doing good busi- ness. “I’m selling out of my supply pretty quickly,” he said. The North American market is al- ready very large with established suppliers and a booming online trade. Vedoya said he knows of others who are about to open shops in Winnipeg. His store has a bare-bones elegance to it, with low lighting and a collection of easy chairs and bar stools at a wall ledge with a wide-screen television and hot coffee for the customers. “We wanted to make sure we looked professional. We didn’t want to turn it into a head shop,” Vedoya said. “We want to make it a comfortable hang- out with a lounge feel to it.” Jessie, a 49-year-old bus driver, was in the shop with his girlfriend. She’s a big fan of the product and is happy to have a comfortable spot in Winnipeg to re-stock her supply of juice. “I smoked for 40 years and tried all sorts of things to stop,” she said. “Since I started using e-cigs I have not had a real cigarette for 37 days.” [email protected] Student opens city’s first e-cig shop Falls in grey area under health rules By Martin Cash N O matter what angle you take or how hard you look — and believe us, we’ve been looking hard — the economic performance of Manitoba in 2013 looked gener- ally the same as it does most years. A survey of the bank and institu- tional forecast- ers has tagged Manitoba’s GDP growth rate at 2.6 per cent for 2012, 1.9 per cent for 2013 and 2.2 per cent in 2014, effectively mirroring the Canadian national experience. The big picture didn’t change much in 2013 for the same reason as always — economic diversity. But it’s within that mix where the good stories are cooked up. Not a national player... Until it is — The big national telcos were at war with the federal government all year and MTS once again seemed on the verge of being swallowed by one of the Big Three. A much-debated change in foreign ownership regulations made MTS’s national business fibre-optics network, Allstream, eligible for a foreign capital infusion — a mechan- ism the company believed would be the saviour for the underperforming division. Accelero, a very successful group led by Egyptian nationals, came forward in an orderly way to buy All- stream. The vetting process took place with no clue from anyone the Ottawa security apparatus had any problem until the very last minute, when they spiked the deal. It threw Canada’s reputation as a place that is friendly to foreign investment into question and has put MTS back on its heels to come up with plan B for Allstream. What do you mean there’s no water? As a concept, CentrePort has been marketed as having the potential to be the city’s most important development in a generation. The concept includes actual greenfield development, which means water and sewer service will eventually be required. That means underground water pipes and an actual supply of water. A $212-mil- lion highway was finished this year, political leadership as high up as the prime minister himself was on board, all that’s needed now is... water? How hard can that be? Very hard, it turns out. Legal issues with the city’s legacy water supply cropped up just when anchor tenants (a Facebook server farm?) started to show interest. A new water-delivery scheme is now in the works and the current genera- tion is counting on increasing longer life expectancy so they will be able to experience CentrePort’s impact on the economy. They’re giving it away. For a long time now, the development of a func- tioning high-tech sector has been a goal for the province’s big picture economic planners. And some real headway has been made with develop- ment of world-class medical devices and medical therapeutic technology. But this year IMRIS and DiaMedica left town and Monteris and Intelligent Hospital Systems were forced to move some of the production assets out of province. However, in an inspired move, the University of Manitoba in- stituted a new policy allowing private sector entities to use technologies de- veloped by the university with no fees or strings attached until they become part of commercialized offerings. It could be a game-changer. Meet the new boss.... In a rare instance of minority shareholders successfully ousting management they believed had lost sight of sharehold- ers interests, Manitoba tribal councils fired Allan McLeod, CEO of Tribal Councils Investment Group this year. They might have waited just a little too long to pull the trigger. It seems despite the awards and goodwill TCIG had garnered, several of the business units were ailing and the bank lender was already getting antsy. So now, months after the palace coup, there’s still no CEO in place, two of the units have been closed and an 11th-hour re-financing has apparently fallen through. The news early in 2014 will be either the arrival of a saviour or total liquidation for TCIG. Explorer discovers New Flyer — New Flyer Industries had the kind of year that solidifies a company’s position in the competitive landscape for years to come. In January, it closed a $116-million strategic invest- ment with Brazilian bus company, Marcopolo S.A., for 20 per cent of the company. That was followed by the purchase of the parts business of shuttered competitor, Orion, from Daimler Buses North America and the all-out acquisition of another com- petitor, North American Bus Indus- tries. It’s already working on an all- electric prototype and will soon start introducing a smaller, medium-sized transit bus for the North American market in partnership with a British firm. Meanwhile, aging bus fleets are forcing cities across North America back into the market and New Flyer’s red rockets are looking better than ever. Continued Please see REVIEW B10 2013 Year in review BUSINESS Fascinating stories lie behind the big picture MARTIN CASH JOHN WOODS / THE CANADIAN PRESS FILES Prime Minister Stephen Harper (right), Premier Greg Selinger and Diane Gray, CentrePort’s president and CEO, opened the first section of the new CentrePort Canada Way expressway in November. Ex-TCIG CEO Allan McLeod JOE BRYKSA / WINNIPEG FREE PRESS Jordan Vedoya said demand prompted him to open Fat Panda Vape Shop early. The store has easy chairs, a wide-screen TV and coffee for customers. ‘I started using it in September and it changed my life so drastically I wanted to share it with others’ B_07_Dec-28-13_FP_01.indd B7 B_07_Dec-28-13_FP_01.indd B7 12/27/13 8:37:07 PM 12/27/13 8:37:07 PM
Transcript of B 07 Dec-28-13 FP 01 · CMY K PAGEB7 BUSINESS...
C M Y K PAGE B7
BUSINESSEDITOR: SHANE MINKIN 204-697-7308 [email protected] I MARKET DETAILS B8 I winnipegfreepress.com
SATURDAY, DECEMBER 28, 2013
B7
JORDAN Vedoya still needs acouple of credits to graduate fromthe Asper School of Business, but
he can already lay claim to being abusiness trailblazer — he’s openedthe first storefront e-cigarette shopin Winnipeg.Fat Panda Vape Shop opened on
Notre Dame Avenue about a week be-fore Christmas.The articu-
late, soft-spokenVedoya tookplenty of timeexplaining theproduct to aregular streamof customerscoming throughhis shop oneafternoon afterChristmas.“I’m passion-
ate about theproduct,” Ve-doya said. “Istarted using it in September and itchanged my life so drastically I want-ed to share it with others.”E-cigarettes have been on the mar-
ket for about five years but becausethe products exist in a grey marketarea when it comes to Health Can-ada’s seal of approval, retailers haveto be coy. Vedoya said he is not ableto sell it as a smoking cessation de-vice.“Smoking is popular,” he said. “The
product speaks for itself. If you areable to switch from smoking to this,then good for you.”Fat Panda sells re-chargeable units
that vaporize a food-grade vegetableglycerin and propylene glycol mix-ture. The mixtures come in a sur-prising range of flavors from SmoothCanadian Tobacco to Grandma’sApple Pie.The vaporizers cost between $25
and $120.Vedoya said he wasn’t planning to
open until the new year when moreof his stock was scheduled to arrive,
but when he was testing the signagepeople started coming in, so he’s upand running and doing good busi-ness.“I’m selling out of my supply pretty
quickly,” he said.The North American market is al-
ready very large with established
suppliers and a booming online trade.Vedoya said he knows of others whoare about to open shops in Winnipeg.His store has a bare-bones elegance
to it, with low lighting and a collectionof easy chairs and bar stools at a wallledge with a wide-screen televisionand hot coffee for the customers.
“We wanted to make sure we lookedprofessional. We didn’t want to turn itinto a head shop,” Vedoya said. “Wewant to make it a comfortable hang-out with a lounge feel to it.”Jessie, a 49-year-old bus driver, was
in the shop with his girlfriend. She’s abig fan of the product and is happy to
have a comfortable spot in Winnipegto re-stock her supply of juice.“I smoked for 40 years and tried
all sorts of things to stop,” she said.“Since I started using e-cigs I havenot had a real cigarette for 37 days.”
Student opens city’s first e-cig shopFalls in grey areaunder health rules
By Martin Cash
NO matter what angle you takeor how hard you look — andbelieve us, we’ve been looking
hard — the economic performance ofManitoba in 2013looked gener-ally the same as itdoes most years.A survey of the
bank and institu-tional forecast-ers has taggedManitoba’s GDPgrowth rate at 2.6per cent for 2012,1.9 per cent for2013 and 2.2 percent in 2014, effectively mirroring theCanadian national experience.The big picture didn’t change much
in 2013 for the same reason as always— economic diversity. But it’s withinthat mix where the good stories arecooked up.
Not a national player... Until it is —The big national telcos were at warwith the federal government all yearand MTS once again seemed on theverge of being swallowed by one of theBig Three. A much-debated change inforeign ownership regulations madeMTS’s national business fibre-opticsnetwork, Allstream, eligible for aforeign capital infusion — a mechan-ism the company believed would bethe saviour for the underperformingdivision. Accelero, a very successfulgroup led by Egyptian nationals, cameforward in an orderly way to buy All-stream. The vetting process took placewith no clue from anyone the Ottawasecurity apparatus had any problemuntil the very last minute, when theyspiked the deal. It threw Canada’sreputation as a place that is friendly toforeign investment into question andhas put MTS back on its heels to comeup with plan B for Allstream.
What do you mean there’s no water?As a concept, CentrePort has beenmarketed as having the potential to bethe city’s most important developmentin a generation. The concept includesactual greenfield development, whichmeans water and sewer service will
eventually be required. That meansunderground water pipes and anactual supply of water. A $212-mil-lion highway was finished this year,political leadership as high up as theprime minister himself was on board,all that’s needed now is... water? Howhard can that be? Very hard, it turnsout. Legal issues with the city’s legacywater supply cropped up just whenanchor tenants (a Facebook serverfarm?) started to show interest. Anew water-delivery scheme is nowin the works and the current genera-tion is counting on increasing longerlife expectancy so they will be ableto experience CentrePort’s impact onthe economy.
They’re giving it away. For a longtime now, the development of a func-tioning high-tech sector has been agoal for the province’s big pictureeconomic planners. And some realheadway has been made with develop-
ment of world-class medical devicesand medical therapeutic technology.But this year IMRIS and DiaMedicaleft town and Monteris and IntelligentHospital Systems were forced to movesome of the production assets out ofprovince. However, in an inspiredmove, the University of Manitoba in-stituted a new policy allowing privatesector entities to use technologies de-veloped by the university with no feesor strings attached until they becomepart of commercialized offerings. Itcould be a game-changer.
Meet the new boss.... In a rareinstance of minority shareholderssuccessfully ousting management theybelieved had lost sight of sharehold-ers interests, Manitoba tribal councilsfired Allan McLeod, CEO of Tribal
Councils Investment Group this year.They might have waited just a littletoo long to pull the trigger. It seemsdespite the awards and goodwill TCIGhad garnered, several of the businessunits were ailing and the bank lenderwas already getting antsy. So now,months after the palace coup, there’sstill no CEO in place, two of the unitshave been closed and an 11th-hourre-financing has apparently fallenthrough. The news early in 2014 willbe either the arrival of a saviour ortotal liquidation for TCIG.
Explorer discovers New Flyer —New Flyer Industries had the kindof year that solidifies a company’sposition in the competitive landscapefor years to come. In January, itclosed a $116-million strategic invest-
ment with Brazilian bus company,Marcopolo S.A., for 20 per cent ofthe company. That was followed bythe purchase of the parts businessof shuttered competitor, Orion, fromDaimler Buses North America andthe all-out acquisition of another com-petitor, North American Bus Indus-tries. It’s already working on an all-electric prototype and will soon startintroducing a smaller, medium-sizedtransit bus for the North Americanmarket in partnership with a Britishfirm. Meanwhile, aging bus fleets areforcing cities across North Americaback into the market and New Flyer’sred rockets are looking better thanever.
ContinuedPlease see REVIEW B10
2013Yearinreview
BUSINESS
Fascinating stories lie behind the big picture
MARTINCASH
JOHN WOODS / THE CANADIAN PRESS FILES
Prime Minister Stephen Harper (right), Premier Greg Selinger and Diane Gray, CentrePort’s president and CEO, opened the firstsection of the new CentrePort Canada Way expressway in November.
Ex-TCIG CEO Allan McLeod
JOE BRYKSA / WINNIPEG FREE PRESS
Jordan Vedoya said demand prompted him to open Fat Panda Vape Shop early. The store has easy chairs, a wide-screen TV and coffee for customers.
‘I startedusing it inSeptemberand it changedmy life sodrasticallyI wanted toshare it withothers’
B_07_Dec-28-13_FP_01.indd B7B_07_Dec-28-13_FP_01.indd B7 12/27/13 8:37:07 PM12/27/13 8:37:07 PM
