Bio's, what matters most and what we learn

What do we learn from....

1992.
What do we learn from the Cadbury Report (gotta read the last post) about good governance and the importance of transparent evaluation. The Cadbury report made recommendations designed to improve board member conduct. The idea was to professionalize the conduct of directors which had, after the fiascos and naked corruption of the '80's, deteriorated badly. There were a few strategies proposed.

• Board members were to be independent in mind and in fact. So, no more choosing from a shallow pool composed of old boys. Nominating Committees had to move well beyond the usual suspects. So, not only should members be recruited based on diversity of background but also based on education and experience. While the NBPSPP Board reports that it has nominating guidelines, none of us mere retirees know what that is. 
• Transparency was important. The Board members should not be accountable to themselves with an Audit Committee composed of senior board members, an Auditor with a permanent sinecure, and a limited audit report based on GAAP. Instead , it was expected that the Board report to the shareholders. One might wonder how the NBPSPP fits this recommendation? Well, the Audit committee is composed of senior board members, chaired by the Board chair. So, in effect, the Board audits itself and controls what is reported to the retirees. 
• Cadbury recommended that the Board not be dominated by a single person or group. In the NBPSPP situation, the Board is Chaired by a union rep. And the majority of the Board is made up of representatives form the various union. 
• Cadbury recommended that there be regular (board and committee meetings).. which NBPSPP has.
• He recommended that there be a fixed agenda. We don't know that there is.
• He recommended that the Board and committees from time to time use professional, independent advice. NBPSPP Board does not, nor is there any move to do so. A question one might have is what their risk priorities are. Is it wise to be paying out more than we are taking in from retirees, depending exclusively on the revenues from investment to pay the shortfall? Was investment revenue of 6.75% in 2016 a satisfactory return?
• NED's ought to dominate the board. NBPSPP has 2/8 members who might qualify as this.
• Cadbury recommended that the term of office be limited. It is for NBPSPP.
• There ought to remuneration disclosure. There is for the board and management. However, having disclosed remuneration, is management worth what they receive? Should board members be paid more than the $250.meeting remuneration, when they are overseeing a plan with $420+m in the pot?

If there was a report card for NBPSPP performance based on Cadbury, the Board would receive 2.5/8 . 

What matters most...in Saint John

The folks designing the City of Saint John Open Data portal might want to consider why they are creating a portal, in the first place. If it is to acquaint people interested in coming to the City, there are some pretty basic questions which ought to be asked.

1. Is there physical and economic security? There is a portal for community safety but it misses the point. People are looking for a degree of security. Police and Fire services fit in there but are not the significant concern. The primary concern is the overall direction of the economy and the availability of jobs.
2. Do the basic services exist? These include schools , health care, affordable housing, decent roads, and public transportation. Are the schools competitive nationally? Is there school choice? This being Canada, what are the opportunities to get educated in one's language of choice? Can you get a family physician?
3. What is the quality of local and provincial leadership both elected and within the business community. Are there opportunities for public and local engagement...and does the population currently take advantage of these. As noted in my last blog this goes to voting patterns, how robust the volunteer community is, and how active and innovative the business community is.
4. How open is Saint John? Are diverse demographic groups including families with children, ethnic and racial minorities, senior citizens, immigrants , and gays and lesbians welcome here?
5. Saint John has a truly beautiful up town core. The province has draw dropping beauty. What opportunities exist to sample and live these amenities? What are its cultural offerings and how diverse are these? 

What, then are the things which matter most, which define Saint John? Can these be quantified and presented on the Open Data portal? Which ones ought the team start with first? One might find that aesthetics (#5) and basic services factor high on the list. But consider this, as well. People want to come to a place where there is a chance to earn a good income, to be with people who have a high educational attainment, are involved in a creative enterprise and where there is a high degree of tolerance for diversity. 

With what cities are we competing?

                                        ....In other words, who might we copy?

My top 8 in Canada...the one's I have visited/lived in ...would include:

• Ottawa/Gatineau
• Whitehorse
• Fredericton
• Charlottetown
• Sherbrooke
• Canmore
• Yellowknife
• Kingston/Thousand Islands Region

More on this tomorrow. If you want to comment, what are your favourite spots and why?

Board Game Bio's cont'd

Lets continue with the characters in the Board Game.

Penny is a well educated media and science specialist. A graduate from a southern Ontario agricultural university with a BSc (focus environmental sciences) , Penny did extensive work with the student radio station, wrote for the student newspaper and then moved onto a job with Global news. She writes online, although in relative obscurity. She has ambitions of helping change the nation's understanding of science and to bring respect for the environment from the purview of the crunchy granola set into the mainstream. Penny is now 24. 

Geraldine, is a grad but of an urban Montreal university, with a BSc in water ecology. She has dabbled in other courses and it took her 7 years to graduate with a 4 year degree. She also dabbled in the environmental movement, with Save the Whale and Greenpeace. Her daddy paid for her internship with Greenpeace where she met Dr Ed. a young rabid environmentalist who has been arrested during violent pro "green" demonstrations in Washington DC. Geraldine is now 27 and with Dr Ed in and out of jail, she is wondering what to do with a mediocre education. 

Clara is a pleasant, well educated,  middle class bored housewife in Sudbury, Ontario. She graduated from Laurentian with a degree in Mining Engineering, married her high school sweetheart who is a local lawyer and promptly had 2 children. But she found time to continue taking environmental science courses during the day, initially for fun.  Now that the kids are in school, she is looking for something more to do with her education and obvious intelligence. Her husband, however, wants her to stay home. Clara is 35

Celine is a divorced mother of 2 young boys, having just finished a graduate degree in Psychology , magna cum laude. She worked her way through university, both degrees without regular child support from the dad. While completing her work, she realized that she had a flare for business...quite a flare. Instead of working in Psychology, she went to work in retail, selling furniture for a major retailer. From there , she progressed to being a detail person for a major Italian furniture producer, rising to become their national rep. Celine is 34. 

Judy has been raised around science. He father was an agri tech with the provincial government and her mother was a nutritionist. She went to the local community college, then onto university. She worked during the summers on farms, with a local restaurant (2 star) and then with the her father at the experimental farm. She developed a flare for business, bought a farm, (cheap) and began to team up with Monsanto using their genetically modified seeds , much to her parents' mutual disgust. None the less, she expanded into livestock (dairy) and now ha a thriving business. Monsanto is interested in promoting her within their ranks at the tender age of 31. 

Cherise is an athlete, noted for her prowess in the university soccer  and, especially appreciated in her home town of Ottawa. She graduated with a degree in History, a passion for soccer and a great personality which propelled her successfully as captain of the team , a senior position within the alumnus association, and offers to work locally on television in their sports department. This was an offer which she accepted with enthusiasm. Her personal brand was such that 2 local pro teams (hockey and football) recruited her to sit on their foundation boards. where she has rubbed shoulders with some high powered corporate executives. 

Sam is a resident in ophthalmology in Calgary. She is widely traveled and very smart, personable, fluent and focused on her career but with an eye to the bottom line. She has been called upon to speak on national television about all manner of medical issues. She is considered the Canadian equivalent of Dr Sanja Gupta..a younger and Canadian version.

I have run out of characters (so far) But with this crowd, there will need to modifications to the game. Some will be able to start ahead of others and may be able to skip moves. Others will clearly miss a few initial turns and will take a 'while to get going.