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Welcome to BusinessNewsMakers!               Wednesday - March 17, 2010

Featured Stories

  • COUPLES’ MASSAGE OR A SHAVE? by Maggie Pagratis

     

    Boy times have changed! Twenty years ago, says Ida Fabbro, men and women had their hair cut on either side of the room—even at a unisex salon. Now, as owner and beauty connoisseur, she has gone all out. She spared no expense five years ago when creating Centropolis’ Spa Orazio; two floors of lavish extravaganza, tasteful heaven for the pleasure of self and others—with a grand piano smack in the middle—a tribute to partner, Robert Ricci, son of original founder, Orazio Ricci.

     

    Women bring their spouses, says Fabbro, for a pedicure or a massage. A room specially designed to accommodate couples, with a simple curtain to separate the event. “Open or closed curtain?” your favourite massage therapist may ask. “Male or female hands to soothe the sore muscles?”


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  • INVESTING DO-IT-YOURSELF — YES YOU CAN! by Chris Scoularinas

     

    I recently asked 20 people I know, all in their early to mid-thirties, the following simple open-ended question: How has the current recession and stock market crash affected your RRSP and/or other investments?

     

    One person gave me a specific percentage of how much he was down this year. Three said they were probably down on the year but were not worried about it. Five people said they just keep their money in a savings account because they don’t understand finance and are afraid of anything other than cash or GICs. Ten others said they haven’t really checked and were meaning to get around to calling their financial advisor about it. And one even said, to my absolute horror, “What stock market crash?”


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  • MOSTLY FOR MEN—THEN

    The Board of Trade, founded 200 years ago as a voice to represent the business community, then almost entirely comprised of men and createdfor men, is now headed by president and CEO, Ms. Isabelle Hudon, who has a word or two of refreshing wisdom for members of the business community—and, of course, of the human race.


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  • THE QUEEN WHO RUNS MONROI

    Interview with Ms. Brana Giancristofaro

     


    Maggie: While reading about your business,  I discovered that MonRoi executed the world's first International Women's Chess Grand Prix....

     

    Brana:  I really love that we provided the opportunity for women in chess to be heard. Before MonRoi, they didn't have their own Grand Prix, particularly not an international one. We provide an opportunity to put them in the spotlight.


    Maggie: Who came up with the name MonRoi?


    Brana: I basically came up with the name. I was inspired by Quebec City history and culture. In French MonRoi means 'my king.' The king represents the prize which a chess player wishes to win. Both for chess and checkmate, both came from 'Char,' the Persian word for 'king.' But why not MaReine? Because the only female chess piece is the Queen, and at the same time, the most powerful chess piece. She can move in all directions across the board. Only in the 8th century did the queen appear on the chessboard when chess was brought to Europe from Asia. It was likely due to influence of female rulers in Europe.

    Maggie: When did you start the business?

     


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  • GODS OF BUSINESS SENSE

     

    Former theologian and pastor, Ralph Loewen, takes on the business world, turning Itergy into a Gold Certified Microsoft Company, and winning the coveted top spot in the Profit Magazine awards.


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GODS OF BUSINESS SENSE Print E-mail

 

Former theologian and pastor, Ralph Loewen, takes on the business world, turning Itergy into a Gold Certified Microsoft Company, and winning the coveted top spot in the Profit Magazine awards.

In 2007, they edged out Garda and RIM based on an impressive 30 to 50% growth per year.


In very large enterprises, Itergy will architect, design and implement systems, business applications, including accounting, human resources, security, servers, web portals, etc. When one logs onto a network and puts in their password, Itergy is likely to have set up the security system behind it. When sending e-mail, they are possibly the ones who put the servers into place.

 

Loewen says business has always been a part of his life. Inspired from watching his father, he started his first business in high school and hasn't stopped since. “Running a business is much more secure than having a job. There's some sense that we control our future. We like the rewards that come with success, and we accept quite easily the difficulties that come when you're not a success, cause as you know, it takes a few failures for every success when you're an entrepreneur.”

 

Loewen and partner established Itergy just a few months before the dot com crash. Their first client went bankrupt; the client that had placed them with the first client went bankrupt, and they lost their startup funds. “So we had to build the company on a totally new model than we had planned on. We had to recast the vision very quickly in the beginning. We switched from a product company to a services company. Everybody thought the Internet had arrived, hundreds of thousands of companies went bankrupt within months. There were no business fundamentals behind them.” You're as good as the people who work for you, says Loewen, the quality of your consultants and your client list.

 

Itergy grew without marketing--and managed to win awards for it. “We learned that you hire on demand,” says Loewen. “These are things we learned from the dot com crash late 1990s and 2000. You have to have a business plan, and it has to make sense for what your shareholders are expecting. We are in the services business; there is no room for error.”

 

Fixated on bringing business value to every client, whether here or abroad, Itergy has opened a support office in the UK, with 24/7 monitoring services, and plans on expanding and adding as need arises. “You don't spend the money before the money is there. Every piece has to work for itself. When each piece is built and it makes sense financially and technologically, then we keep going. Acquisition should do the same thing.” Loewen plans to continue acquisition activity, to increase capacity. “It makes sense to bring together certain companies.”

 

Ethics

“I've always been technical but have not always been passionate about IT. I've always been passionate about people,” says Loewen. “Our faith has always been very important to us. We built a business ethic right off our own sense of ethic. Ethics are necessary. At the same time we have a clear vision, one of which is family. RRSP plan, insurance...we always make sure that people are properly taken care of. We spent a lot of time doing the rights things--not always doing it right. Processes need to follow.”

 

Loewen's best advice to entrepreneurs is to keep the complex things simple. Business must always make sense. “Technology exists for us, we don't exist for technology. Get rid of things that are unnecessary. People spend way too much time on the wrong things. You've got to spend time on things that add value. It's better to be number one or two, than to be number six, seven, eight, nine or ten, then you're lost.”

 


 
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