SEPTEMBER 2004 l exchangemagazine.com l 39

Synnex Canada has purchased EMJ Data Systemsfor $56 million. Jim Estill takes over both operationsand promises a blend of broad line and niche business.

“You’re not going to take the entrepreneurial business outof my blood,” he says. Synnex Canada Limited, wholly-owned subsidiary of Synnex Corporation, is a leading dis-tributor of technology products to more than 8,000 resellersthroughout Canada. When asked what motivated the sale ofEMJ Estill replied, “It was good for my shareholders, mystaff, customers and suppliers – what more could youwant?” Estill will still work out of his office in Guelph; theonly change, he says , will be “just a bit more travel.”

Waterloo Region and Ontario’s Minister of Tourism andRecreation, Jim Bradley, made an important funding announce-ment for St. Jacobs Tourism on July 23 at The Mennonite StoryVisitor Centre, St. Jacobs. Total funding for the organization was$175, 000 – $25,000 from the Region and $150,000 from theProvince.

St. Jacobs’ Jenny Shantz commented on the positive impact thetwo announcements will have on tourism in the area, sayingtourism has significant impact on the local economy.

Data Perceptions has teamed up with FibreTech and theWaterloo Data Fortress to assist companies in the Waterloo Region in creating dis-aster recovery plans and providing implementation services

Abacus received recognition for “outstanding achievementsand extraordinary success” from Microsoft BusinessSolutions, a business group of Microsoft that offers integrat-ed business applications for small and mid-sized organiza-tions and divisions of large enterprises delivered through aworldwide network of channel partners. Abacus received the2004 Outstanding Partner Canada award on July 10, 2004 atthe Microsoft Business Solutions Global RecognitionCeremony, held during Microsoft’s Worldwide PartnerConference in Toronto.

ATS Automation Tooling Systems Inc. has received aUS$3.8 million (CDN $5.0 million) order from one of the

world’s largest pharmaceutical companies to provide a manufacturing system for anew drug delivery technology. The assignment – to be completed in early 2005 – makesuse of a range of ATS capabilities including assembly, material handling, drug filling,

testing, inspection and packaging tech-nologies.

DALSA Corporation has received a $1.6million camera development contract froma leading manufacturer of semiconductorwafer inspection systems. The project willbe completed over the next 15 months atwhich time the product will be available forsignificant follow-on production for thecustomer. Under the terms of the contract,DALSA will develop high performance dig-ital cameras that will be used to inspectsemiconductor wafers at extremely highspeeds and low light levels.

In addition DALSA was praised for itsOrigin® digital cinematography camerafrom audience members at a June 8 meet-ing of France’s CST (CommissionSupérieure Technique de l’Image etdu Son, or “Advanced Technical

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Image and Sound Commission”) inParis. During the course of the evening,clips from Zicatela Films’ “Le Gant/TheGlove”, shot with a pilot Origin camera inMontreal, were screened with a 2K digi-tal projector for an audience of over 480film and video professionals.

After months of bargaining with CAWCanada, Asea Brown Boveri Inc(ABB) in Guelph, Ontario locked out 270members of CAW Local 541 and shut themdown. On Thursday, July 8 ABB presenteda final offer proposal that CAW claimedslashed wages, took away wage inflationprotection, reduced pensions and wouldeliminate workers without regard to theirseniority. At a meeting on Sunday, July 11the membership rejected the final offer by93%. ABB then locked the workers out ofthe plant. “There is no way the companycould have realistically expected themembership to accept such an offer,” saidJim Scannel, chairperson of the CAWbargaining committee. It was announcedin mid July that ABB was closing the plant.

MKS Inc. announced that TEVAPharmaceuticals USA, the leadingmanufacturer and distributor of genericdrugs in the U.S., has selected the MKSIntegrity Solution(R) for enterprise soft-ware configuration management (SCM).

Canada’s largest brewer just got bigger.Molson’s has signed a $7.9 billion dollarmerger with Coors. The merged compa-ny is now called “Molson CoorsBrewing Company.” The deal unitesNorth America’s family run brewing icons.Molson was already Canada’s largestbrewer. There’s a wave of consolidation inthe beer industry. This latest deal meansCanada’s top two beer makers...Molson’sand Labatt are foreign owned.

Heffner Lexus Toyota reached a mile-stone by selling its 20,000th Toyota onFriday July 1, 2004. “Of course we are

thrilled to have reached the 20,000thlandmark here at the dealership, but weknow that without the support of thisgreat community we wouldn’t be wherewe are today” said John Heffner Jr.,President of Heffner Lexus Toyota.

Research In Motion reported in Julythat it was added to both the S&P/TSX 60and S&P/TSX 60 Capped Indexes. RIM isalso included in the Canadian componentof the S&P Global 1200 index. They alsoannounced that Cable & Wireless andRIM have signed an agreement thatenables Cable & Wireless to offer theBlackBerry® wireless platform to cus-tomers in Jamaica. Revenue for the firstquarter of fiscal 2005 was $269.6 million,up 28% from $210.6 million in the previousquarter and up 158% from $104.5 millionin the same quarter of last year. The rev-enue breakdown for the quarter was

approximately 68% for handhelds, 19% forservice, 9% for software licenses and 4%for other revenue. The total number ofBlackBerry® subscribers increased byapproximately 270,000 from the priorquarter to approximately 1,340,000 sub-scribers.

Rogers Wireless officially opened itsnew, state-of-the-art Southwest Ontarioheadquarters in Kitchener, Ontario withcompany executives (l-r) Steve Roberts,General Manager Southwest Ontario;Kitchener Mayor Carl Zehr; JoeChesham, President, Ontario Region; andNadir Mohamed, President and CEO.

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Places to Grow: Better Choices,Brighter Future outlines a strategy andidentifies the necessary tools for manag-ing growth in the fastest-growing regionin Canada. Over the next 30 years almostfour million people will settle in theGreater Golden Horseshoe, including thecities of Toronto, Hamilton andKawartha Lakes; the regional munici-palities of Halton, Peel, York, Durham,Waterloo and Niagara; and the coun-ties of Haldimand, Brant, Wellington,Dufferin, Simcoe, Northumberlandand Peterborough. The discussionpaper aims to provide a comprehensiveframework for managing economic andpopulation growth in Ontario in a waythat promotes vibrant communities, astrong economy, and enhanced environ-mental sustainability.

The Region of Waterloo Arts Fundhas awarded more than $64,000 to indi-vidual artists and arts organizations. The

total included the Fund’s single largestgrant to date – $20,000 to the Open EarsFestival of Music and Sound, to sup-port an expanded program of new music,outreach and education.

Your New Kitchener Market is set toofficially open on Saturday, September25. That is when the Market Shops com-ponent will be open to complement theFarmers’ Market and provide a fresh foodmarket for the downtown. Grand open-ing ceremonies throughout the day willfeature a variety of live entertainmentand greetings from dignitaries. Officialopening ceremonies will commence at10:30 a.m. The public is welcome.

Kitchener City Council hasapproved new development charges.The new by-law took effect July 1; newrates will not be applied until January 1,2005 in order to allow for a period ofadjustment in the local development

market. New charges are intended toeliminate existing inequity, by estab-lishing a Central Neighbourhoods ratethat more accurately reflects the cost ofproviding new infrastructure for growthin the inner city, in contrast to the high-er cost of providing infrastructure forsuburban growth.

Carla Ladd, a senior manager who hasbeen with the City of Kitchener for over18 years has been chosen to fill the city’stop administrative position, ChiefAdministrative Officer. Ladd’s appoint-ment was be officially ratified at CityCouncil meeting in June.

Kitchener City Council gave its approvalto the University of Waterloo’sDowntown Kitchener HealthSciences Campus, committing $30million for construction. The city’s contri-bution is part of the $110 million

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Canada’s Technology Triangle hasrelocated to the former SeagramMuseum in UpTown Waterloo as of July12, 2004. The building is also home to theCentre for International GovernmentInnovation.

The City of Guelph has announced thatTim Hortons has chosen Guelph as thelocation for a new distribution centre.Construction began in mid July at theHanlon Expressway site and will be com-pleted by November, 2005.

The Board of Governors of ConestogaCollege Institute of Technology andAdvanced Learning has approved abudget of $86.4 million for fiscal 2004-

2005. This budget reflects a deficit projec-tion of $1.4 million for 2004-2005, attrib-utable to a number of provincial fundingdecisions. Dennis Watson, Chair of theBoard of Governors, commented, “Thischronic underfunding of a valuable sec-tor that contributes so much to the devel-opment of the local and provincialeconomies is very discouraging. For sixconsecutive years, Conestoga has provenits quality, being ranked as best college inthe province.” Watson added, “graduatesannually have earnings of more than $1.3billion, more than 60% of our grads liveand work in midwestern Ontario, morethan 40% of the local adult populationhas taken courses at Conestoga, and par-ticipation in adult education courses andprograms helps renew and advancemore than 36% of the local labour force.”

In response to higher inflation, “centralbanks have started the long process ofshifting monetary policy from stimulat-ing growth with low interest rates toensuring that the expansion remainssustainable,” says Kip Beckman,Principal Research Associate theConference Board of Canada. It isexpected that world economic growthwill moderate to a more sustainablepace next year as interest rates rise tomore normal levels.

Three top-paid executives in 2003:1. Robert McEwen, Chairman & CEO,Goldcorp Inc.: $94.7-million;2. Frank Stronach, Chairman, MagnaInternational Inc.: $53.6-million;3. Robert Gratton, CEO of PowerFinancial Corp.: $52.4-million.

Total compensation includes basesalary, annual bonus, other payments,share value and option gains, to the

nearest $100,000. In 1983, the best-paidexecutive, Walter Light, Chairman &CEO, Northern Telecom Ltd., was paid$1.1-million

After sharing top position last year withBritish Columbia as Canada’s biggesttech-hubs, Ontario regained the leadingposition by fielding 16 finalists (32%)compared to 15 finalists, (or 30% in2003) on the 2004 Deloitte CanadianTechnology Fast 50. Waterloo,Ontario-based Research In Motion is the onlycompany who has the distinct honourof making the annual list for sevenyears in a row, a record for anyCanadian high-tech company everplaced on the Fast 50 since the pro-gram’s inception. Alberta, in a remark-able leap, almost doubled its presenceon the Fast 50 list with 11 finalists (22%)compared to only six companies fromthe previous year (12%).

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continued from page 46MAKING A DIFFERENCE

ideas and to help students discovertheir interests and passions, even ashe has discovered his. He reckons thatin his 23 years of teaching at the Uni-versity of Waterloo he has taught15,000 students, approximately 10% ofthe school’s alumni. He gets to knowmany of them personally.

An example is Andrew Aboushar, apartner at Tech Capital Partners inWaterloo. He was a student of Smith’sin Economics 101 “way back when.”They share an entrepreneurial interestand have maintained a friendship overthe years. Aboushar describes Smithas “a delightful guy and quite a lectur-er. He can make a dry subject like eco-nomics riveting.”

Aboushar is particularly impressedby Smith’s dedication to his students.He says the stream of people at hisdoor is not insignificant. He will giveany student an audience. He gives thegift of time and honest feedback.Aboushar says he is regularly calledby people with various entrepreneur-ial interests who have been referredby Smith.

Despite his obvious affection for his

students, Smith has a concern. “I amsurrounded every day by bright youngpeople, who, if I was younger myself, Iwould be intimidated by. They aremuch brighter than I was at that age.”Smith adds that co-op programs pro-vide students with the opportunity tocomplement their academic studies

with valuable employment experience.“They graduate with a ton of talent anda wide range of opportunities. But toooften I see their talent erode as theyget out into the workplace and itmakes me sad – profoundly sad – tosee that. Our popular and corporateculture, including that of academia,tells them to specialize. So they learnmore and more about less and lessuntil eventually they know nothing!”

Smith says former students often tell

him “they have no choice. The averageemployer asks them to do this. So theylimit themselves and their possibilitiesby doing what they perceive employerswant.” In such a setting, Smith notes,“It is hard to maintain independence ofthought and it stifles creativity. It drivesme nuts!” His advice to all who will lis-ten is, “There is an alternative – youcan resist these conventional boxes –you can negotiate for things other thanmoney that will allow you to developyour interests and have a life outsidethe workplace.”

He uses himself as a case in point. “Iwas not an A student. I am not anunusual person in many ways and I amnot being falsely modest. I worked forseveral years for the Government ofCanada but I never intended to stay. Iused the experience to develop myskills so I could move on and do myown thing. When I got into universityteaching I continued to pursue my pri-vate entrepreneurial interests. One ofmy colleagues, a distinguished aca-demic who shall remain nameless, toldme I had to fish or cut bait. I couldn’tdo both. My response was to getbloody-minded and say I can do both!Since I love science, I decided then and

Don’t tell Smith you’re

bored. It’s a concept

he’s not familiar with.

continued on page 44

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there to run an experiment and do bothsimultaneously – and it worked!”

Smith started university as a studentof Physics, “but along the way I found agreater love in Economics. But I stilllove Physics,” he hastens to add. Hehas combined this dual love affair byusing the principles of quantummechanics to create a software pro-gram that anticipates stock marketmoves. “It’s cool,” he declares, borrow-ing the lingo of his students. “The pro-gram is called Cassandra after the seerin ancient Troy who warned not tobring the horse into the city. They did-n’t listen to her and things turned outbadly,” Smith quips. “And she didn’teven make it into the movie!”

He also loves cities and once con-sidered a career in architecture. Aboutseven years ago he went to see EricHaldenby, the Director of the School ofArchitecture, and offered to teach acourse. Haldenby was welcoming but,according to Smith, couldn’t help not-ing he had never received such arequest before and didn’t expect toagain. However, he was intrigued andundoubtedly sufficiently impressed bySmith’s unrelenting enthusiasm that heaccepted the offer and made him aGuest Professor of Architecture. Eversince, Smith has taught the Profession-al Practice course where aspiringarchitects learn how to organize abusiness, market their services andspeak the language of the market-place. “We talk a lot about the powerof architecture as a marketing tool in

the course,” Smith notes.He believes the constraints of the

traditional disciplines often limit theexploration and development of newideas. “Virtually all of the world’sgroundbreaking ideas have come frompeople who have combined conceptsand principles from several disciplinesand lacked conventionally acceptedprofessional accreditation in any one ofthem. Albert Einstein is an obviousexample. Jane Jacobs is another. Bothwere (or in Jacobs’ case still is) brilliant

and highly acclaimed in areas forwhich they had no professional accred-itation. Similarly, many of our mostinnovative entrepreneurs have lackedthe conventional ticket. Mike Lazaridisdropped out of university in his finalterm to found RIM. Case closed,” saysSmith. “Nobody can bestow a profes-sion on you. Your career is betweenyour ears.”

Smith’s advice to all his students –the same advice he also gave recentlyto a Grade 8 class he visited – is consis-tent. “Take courses you like and HAVEFUN! Once people find those things

that keenly interest them and that theyare passionate about, motivation isnever an issue.”

“The mind cannot stop thinkingabout that which it loves,” is a sayinghe likes to quote.

When students come seeking hisadvice regarding courses to take orprofessions to pursue his first questionis, “What are you interested in?” If theyreply, “I don’t know,” he tells them tocome back and talk to him whenthey’ve figured that out. The idea thatsomeone would not have interests isclearly an anathema to him.

Smith ’s consulting company iscalled Essential Economics. He has areputation as an outstanding economicforecaster. His entrepreneurial inter-ests vary from developing solar energyto helping charitable organizationsmeasure their economic impact. Hehas done work for organizations asdiverse as Lutherwood, ConestogaCollege and the Victorian Order ofNurses. Other clients include munici-palities and private-public sectorhybrids like Canada’s Technology Tri-angle (CTT). Although he has workedwith multi-national corporations aswell, he admits a preference for smallstart-up companies that are flexibleand innovative. Doing something cre-ative and approaching a problem in aunique way is his common denomina-tor. “I have no time for the cookie cut-ter approach,” Smith says, with anedge in his voice. His marketing isdone primarily by word of mouth andhe works with a variety of associates,depending on the project.

One of Smith’s associates is Peter

MAKING A DIFFERENCEcontinued from page 43

“Nobody can bestow

a profession on you.

Your career is

between your ears.”

SEPTEMBER 2004 l exchangemagazine.com l 45

Roe, Professor Emeritus of SystemsDesign Engineering at the Universityof Waterloo. Roe first met Smith 20years ago when they were bothinstructors with Shad Valley, an inter-national program run each summerfor outstanding young people enter-ing their last year of high school. Itexposes them to advanced conceptsin science, technology and entrepre-neurship. Roe and Smith subsequent-ly became co-directors of the pro-gram. Since then they have acted asadvisors to each other’s companies.Roe founded Watlan Inc., a Universityof Waterloo spin-off software devel-opment company. Roe describesSmith as “a high tech mover andshaker and one of the most soughtafter instructors at the university.”Roe goes on to say, “Larry is anOttawa Valley boy and a strongCanadian nationalist. He is a big pro-moter of our country generally andCanadian commerce in particular. Heexpresses a frustration that our main-stream media too often presentCanadian news in a negative lightrather than featuring and promotingour many successes. He is not abashful Canadian!”

Smith also has a passion for socialcauses such as housing. Last Novem-ber he was the featured speaker atNational Housing Day celebrations atthe Region of Waterloo administrationbuilding in Kitchener. He was quotedin The Record on that occasion as say-ing, “Housing is the platform, the foun-dation of any humane, functioningsociety. I’m a teacher but I’m not goingto stand here and tell you that educa-tion should be our first priority. Youcan give a child a few hours of stimu-lation and encouragement but if theyhave no home to go back to, their edu-cational well-being is endangered.”

The old joke that an economist issomeone who is good with numbersbut doesn’t have the personality to bean accountant certainly doesn’t applyto Smith. He oozes personality. Withhis wide range of interests, broad baseof knowledge in many disciplines, hislove of learning, his care for peopleand his entrepreneurial spirit, he is inmany ways a 21st century edition ofthe Renaissance Man. But most impor-tantly, he pursues his interests pas-sionately. As a result he can say, likeRobert Frost in his well-known poem,The Road Not Taken, “I took the roadless travelled by, and that has made allthe difference.”

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46 l exchangemagazine.com l SEPTEMBER 2004

Stuck in a rut? Stressed out from working at a job youdon’t enjoy? Dreaming about what might have been? Ifso, Larry Smith has four words of advice for you: DO

SOMETHING ABOUT IT! Smith believes the majority of peo-ple in an affluent society like ours are blessed with an abun-dance of opportunities. But these opportunities are too oftenmissed because we lack the courage to pursue our passionsand dreams.

And don’t tell Smith you’re bored. It’s a concept he’s notfamiliar with. That’s because he’s excited most of the time.

He’s excited by teaching (if not the marking). He’s excited byentrepreneurship and economics. He’s excited by science andtechnology. He’s excited by ideas – all kinds of ideas. And heconveys his passion clearly to everyone he meets. He loveslife and lives it with gusto!

Smith is best known as a distinguished Assistant Professorof Economics at the University of Waterloo, and as an eco-nomic forecaster. He realized at an early age that he lovedteaching because it provided an opportunity to exchange

MAKING A DIFFERENCE

continued on page 43

Larry Smith, shown with a favourite visual aid. Smith says, “The message is simple. Nothing is too big to fail. The dinosaurs were never sopowerful as the day the comet crossed the sky, marking their doom. Adapt or die.”

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