So, you must have heard the news that 1200 people will be out of work in Oshawa. They work and will soon be laid off from the GM plant there. That’s the place they make trucks for the US market. Seems Americans are buying less trucks these days?
What does this have to do with Real Estate in Canada?
Well, according to Thomas Walkom of The Toronto Star, A Lot!
“Any time I have seen someone accomplishing something magnificent, they have been a monomaniac with a mission. A single-minded individual with a passion.”
–Peter Drucker
You may recall the movie City Slickers from a while back starring Billy Crystal and Jack Palance. In it, we observed the story of a man (Crystal) who because of a midlife crisis decides to go out with some buddies and rustle cattle for a week.
Curly (Palance), the trail boss to whom they report, really seems to have his head together, and Crystal’s character keeps asking him what the secret is. Curly’s only reply is to hold up his index finger and say, “One thing.”
Finally in frustration, Crystal asks, “Well, what is that one thing?” To which Curly replies, “That’s what YOU have to figure out… No one can do it for you.”
This “Curly Principle” teaches us the same lesson that the renowned management consultant Peter Drucker has observed in highly successful people:
Monomania.
In other words, a single-minded focus and passion for that “one thing.” Jesus taught us in Luke 11:34, “When thine eye is single, thy whole body also is full of light.”
What are you singularly focused on?
Frequently, I meet individuals who want to have their dreams and yet aren’t willing to give up anything to achieve them. This is self-deception. Choosing to become great in any area means choosing to not be great in another area. There will always be a price to pay. There will always be a sacrifice.
You can only ride one horse really well at any one time. Yes, you may be able to ride two, but nowhere NEAR as well as you can ride one. Nowhere near as agile, responsive or quick. Understand the difference?
“The secret to success in life is making your vocation your vacation.”
–Mark Twain
Several years ago, I was in LA with some good friends attending an Elton John concert. I was asked what seems to be a frequent question among acquaintances, “What do you do for fun and recreation?”
This is always a difficult question for me to answer, because I know there’s an unspoken expectation that I come up with a whole list of activities I’m involved in. Bottom line…
I am a monomaniac.
(And not in the clinical sense of the word either.) My work is my passion as well as my “re-creation” (notice the true meaning of the word). When asked the question, “How is work?” I can honestly answer, “Work is play.”
I absolutely love what I do, and if you can say that too, then that goes a long way towards creating Harmonic Wealth®. I can think of nothing more fulfilling and re-creating than to meditate, study, read, learn, write, create, help and coach others, talk with you and share insights.
Yes, I do hike, workout, ski from time to time, go to movies and I even played golf poorly once. But these are not the things that make life meaningful for me.
Many see their work as a “means to an end,” but for the monomaniac, their work is an end unto itself. Not just a job… a meaningful, passionate mission.
Your work is your passion and your love made manifest through action.
Is this the right approach for you? I’m not qualified to answer that question. What I am qualified to do is to check my own observations and experiences and agree with Drucker and Curly.
To accomplish anything of consequence, anything magnificent and great, you must be willing to literally trade your life for it. To be so passionately focused and committed that nothing will divert you. Nothing and no one can stop you.
My wish is that you find that “one thing” in your life:
Your white-hot passion that brings you tremendous meaning and purpose.
To your continued wealth and happiness,
James Arthur Ray
President/CEOJames Ray International
“We felt that due to 35 McKenzie Avenue being in the price category, and in the location of Rosedale that it was incumbent on our part, to initiate marketing efforts that reflected the financial stature of the house, and location. We are quite fortunate to team up with GTA Exotic Car Rentals who are providing this car. They have been very supportive throughout this marketing campaign. The response from our clients and the brokerage community has been very positive. We are also quite pleased to be selected not only for the disposition, but also for the property management of this truly magnificent home,” said Arun Mehta.
Richmond Realty Group (Ontario) Inc. (RRG) is a full serviced real estate company. Its sister company Richmond Advisory Services Inc. (RAS) is a multi-disciplinary management consulting firm which provides real estate, risk management, and workforce mobility consulting services.
Both RRG and RAS are headquartered in Markham, Ontario.
For more information on the Richmond Group of Companies, please refer to the following link:
http://www.richmondrealtygroup.ca/richmondadvisoryservicesRichmond Advisory Services Inc.
Richmond Realty Group (Ontario) Inc. Brokerage
Mary Corrado
Communications Director
Well, it’s less than a year till the next Olympics. Next year China will be in the spotlight. Will it be the pollution, human rights or athletes who will take centre stage? My bet is on the athletic events. But who knows for sure?
However, I hope stories like these come out more often:
Young world champion Adam van Koeverden uses kayak to promote a humanitarian group
Aug 21, 2007 04:30 AM Randy Starkman SPORTS REPORTER
When Olympic kayaking champion Adam van Koeverden showed up at the recent world championships with the Right To Play logo splashed all over his shiny new boat, everybody figured he was cashing in on a big sponsorship with an online gambling service.
But this was a goodwill gesture borne from the Oakville paddler’s desire to boost a good cause, not his bank account.
Right To Play is a Toronto-based humanitarian group which uses sport to help improve the lives of children in the most disadvantaged parts of the world.
In van Koeverden’s case, it wasn’t just Right To Play but also Right To Win.
The 25-year-old demonstrated he’ll be a force to be reckoned with at the Beijing Olympics, capturing his first world title ever in the men’s K-1 500 metres in world record time and just getting pipped for the gold in the men’s K-1 1,000 metres at the championships nine days ago in Duisburg, Germany.
He also generated a lot of attention for the charity as he was constantly questioned about his flashy new boat. Among those inquiring was British rival Tim Brabants, a medical doctor who beat van Koeverden with a brilliant comeback in the 1,000 metres and was just edged by him in the 500 metres.
“Before the weekend was over, he was already in touch with the U.K. office of Right To Play and he’s going to be an athlete ambassador,” said van Koeverden.
“What a positive thing that is. I managed to recruit a world champion, Olympic bronze medallist and a medical doctor to Right To Play all in one.”
Van Koeverden was on his way to Ottawa yesterday for this week’s Canadian championships. He already managed to get posters produced showing him winning at the worlds in his new boat. He plans to autograph and give them away to kids at the event.
Nobody had ever advertised a charity on their boat before on the international canoe-kayak scene before van Koeverden approached the Portuguese firm which builds his boats, NELO, with the idea.
Being soccer fans, the boat builders equated it with FC Barcelona wearing UNICEF on their uniforms and were quite excited by the prospect. So much so that they produced the boat in two weeks for the worlds in Duisburg.
“It’s always, `How much money is 20 square centimetres of (advertising) going to cost me?'” said Van Koeverden. “I always thought that was an F1 kind of thing and it didn’t have to be a kayaking thing. Kayaking’s more wholesome and there’s never going to be as much money involved — and thank goodness — as there is in F1 or cycling or something like that.”
Van Koeverden worries that too much money would corrupt the sport. He’s hoping that his initiative will get other kayakers thinking more globally and following suit.
“Imagine if everyone in the final were racing for a different charitable organization – how cool that would be?” he said.
“It would be like a celebrity poker game, but instead of making money for them you’re getting some publicity for them.”
The 25-year-old McMaster University graduate has declared he’s willing to part with his prized boat for a sizable donation to Right To Play, but he plans to race it here first at a rare competition in Toronto on Sept. 15.
The best paddlers in the world are coming here for the 2007 Mazda Canoe Kayak Knockout at Marilyn Bell Park at Ontario Place. They’ll be competing for prize money in a series of 200-metre races.
It’ll be a more relaxed atmosphere than the high-pressured scene at the worlds, a welcome break for van Koeverden as he starts to gear up for the Beijing Games.
“Does that add pressure?” he asks. “I put pressure on myself to compete well and race well than any sort of figure of statistic could possibly do. It doesn’t really worry me or anything. If anything, it’s just proves I’m the guy to beat. Good.”
Here it is guys! Read ’em and weep! I mean, enjoy!
Well, it’s not The Donald. In fact it’s Canada’s youngest billionaire, Alex Shnaider. And not only is he the muscle behind the vertically challenged Trump Tower but he’s also a client. The Toronto Star had an excellent article that you can read HERE. Enjoy!
Did you know that the average home price in Canada’s 25 largest cities has risen to $332,442? According to the National Post report housing prices have risen more than 13% from a year ago. I bet you dodn’t even know that Canada had 25 cities! Can you name even 10?!
Even so, the Canadian Real Estate Association (CREA) is agreeing with ‘experts’ that Canada should have more than 25 cities…just kidding…CREA says that the housing market is cooling. Not crashing. Cooling. Ahhhhh…..
Condos are booming in the ‘burbs. I thought that the only thing to be found there was white picket fences and semi-detached shoeboxes? See! You learn something new everytime you visit this blog!
The financial mess in the States as a result of sub-prime mortgages is HUGE news down south. Just don’t see that happening in conservative Canade. But it does make ya’ll feel good, doesn’t it? LOL!
Sorry. I know it’s not funny. But if you want to know the history of the sub-prime crash read the following story that I found in the Globe and Mail.
Recently, many of you have heard about the literary phenomenon called “The Secret”. It’s a book and a movie about the concept of the Law of Attraction. The Law of Attraction simply states that what I think concentrate on with faith mixed with emotion and topped off with a little hard work will come to pass.
The concept is not difficult to understand. In fact, I came across this and many other success principles while reading a book called “Think & Grow Rich” which was written by Napoleon Hill in the middle of the last century.
Why am I telling you about books in this posting on INSPIRation? I wholeheartedly believe that inspiration and even motivation must be internal moreso than external. And reading such books can help us all figure out the tools we need to embrace so that we can live a life of inspiration!
I am just finishing reading “Think & Grow Rich.” When I’m done, I’ll leave a little report here on what I’ve learned.
Until next time.
Karim
09:48 AM
Canadian Press
Real estate firm Royal LePage Franchise Services Fund (TSX: RSF.UN) reported today its second-quarter earnings more than doubled to $3.6 million from a year-earlier $1.5 million.
Earnings per unit for the period were 36 cents on a diluted basis, compared with 15 cents per unit in the prior-year period.
Royalty revenue for the April-June period was $8.8 million, up 11.4 per cent over $7.9 million in the same period in 2006 on “continued growth of the Canadian residential real estate resale market,” the fund said in a release.
“The growth in royalty revenue exceeded our expectations, reflecting the ongoing expansion of the Fund’s underlying network of Realtors, the surprising strength in housing unit sales and steady average price appreciation across Canada,” president and CEO Philip Soper said.
Units of the trust, whose revenue comes from franchise and service levies charged to 600 locations of brokers and agents under the Royal LePage and Johnston & Daniel brands, were untraded early Wednesday at $13.56 on the TSX.
THE BATTLE OF 1 KING WEST
TheStar.com
Harry Stinson’s nightmare
“We love this building. … But we’ve been thrown like pawns onto the battlefield” Mark Russo , 1 King West condominium owner
His patience expired, David Mirvish goes to court to get his millions back
Aug 08, 2007
04:30 AM
Jennifer Wells , Business columnist
“Unfortunately, I have lost a great deal of money, and I have lost all confidence in Mr. Stinson as a person with whom to do business. Unfortunately, he is not competent to run the businesses operated by SHI and Club Corp.”
–Affidavit of David Mirvish
David Mirvish is calling on his cell. The reception isn’t great, but then, Mirvish would prefer to say little at this juncture.
At the end of last week, just as the city was downing tools for a summer’s long weekend, Mirvish filed a notice of motion in Superior Court seeking to have Harry Stinson removed from the operations at 1 King West.
Seeking to have a receiver step in and supplant Stinson Hospitality Inc., which manages the hotel component at 1 King.
Seeking to have certain properties within the development, including the club facilities, turned over to K One Holding Inc., a.k.a. David Mirvish.
Seeking, not to put too fine a point on it, to see the end of Harry Stinson.
“I’ve been forced to ask for this motion not of my actions, but because of Harry’s actions,” Mirvish says.
“Harry has not lived up to his agreement.”
At his office at 1 King, Stinson answers the phone with a deadening “Hullo.”
How is he feeling? “Well,” he says, “nightmare would be an appropriate word.”
The agreement to which Mirvish refers, little of which has been on public view, was meant, in part, to steer the long overdue resolution of an $11.8 million debt owed by Stinson to Mirvish.
Stinson had purchased from Mirvish certain commercial spaces at 1 King, including the private club facilities and the subground parking spaces.
Stinson first defaulted on that debt in June 2006. Extensions were granted. Last March, Stinson filed for bankruptcy protection. In April, a confidential settlement was reached between the parties. As part of that agreement, an undisclosed sum was due to be paid by Stinson to Mirvish on July 31. That didn’t happen.
That’s the dry version.
The fuller tale recalls the long-ago loan of $125,000 made by David Mirvish to Harry Stinson, which seeded an unlikely alliance between the theatre impresario and the condominium developer, which grew into loans totalling hundreds of thousands and then millions of dollars, including the Mirvish-backed acquisition of the old Dominion Bank building at King and Yonge, the historic, and somewhat cursed, component of the condo hotel.
Through it all, David Mirvish has repeatedly said that he only ever wanted to see Harry Stinson succeed. Harry Stinson has repeatedly acknowledged David Mirvish’s patience in awaiting his payback.
Up until mid-July, Harry Stinson thought he could call on David Mirvish’s patience yet again. He says he was “knocking on every bloody door we could think of” in an attempt to tee up financing to buy Mirvish out. When that failed, he hoped to appease Mirvish by sending over three cheques, each for $70,000, dated the first of August, September and October.
The cheques were returned.
There are, as there always are in corporate divorces, stories behind the numbers. In an affidavit filed in late March, Mirvish refers to “a number of events” that caused him to lose confidence in Stinson’s ability to continue as chief executive officer of SHI and Club Corp. He cites the sale of a 1 King condo for the sum of $2.4 million. The bulk of those funds, however, were not delivered to 1 King West Inc., but rather to Stinson Properties.
According to the affidavit, at a meeting in March 2005, “Mr. Stinson admitted culpability and assured us that this was the only instance of his misappropriation of funds due and owing to 1KWI.”
Mirvish Enterprises ended up covering the purchase price, in exchange for a promissory note from Stinson personally for $2.2 million. As of March 12, no monies had been repaid on the note despite demands made.
In an interview yesterday Stinson would not discuss this matter, nor the affidavit’s further assertion of the unauthorized use of residential units as hotel rooms, generating rental income for Stinson Hospitality. “I’d rather not,” Stinson said when asked to comment. “They’re really complicated.”
Bob Verdun, president of the condominium corporation, says Stinson “used the money (from the condo sale) to complete the hotel. … Mirvish wasn’t paying for the infrastructure for the hotel. That’s what Stinson used the money for.”
Verdun is standing fast in his support of Stinson who, he says, “has been a magician.” He’s busily trying to rally condo owners to protest Mirvish’s attempts to take control of the hotel rental management program. The authority for that, he insists, rests with the board. “It’s absolutely devastating to suggest a receiver will do anybody any good,” he says.
Mark Russo is one condo owner who sheds no tears for Harry Stinson. But he doesn’t shed any tears for David Mirvish either. Together with family members, Russo owns five units at 1 King. He has lived through the broken promises of guaranteed investment returns, and the ongoing battle over the taxation of units used as hotel suites. “We love this building, we want it to succeed,” Russo says. “But we’ve been thrown like pawns onto the battlefield.”
Russo would like to see a forensic audit of the whole operation.
In the meantime, Stinson supporters and Stinson detractors will undoubtedly gather to hear David Mirvish’s court motion, scheduled for Friday. Harry Stinson himself will be there for what could be his last stand.
Welcome to my first post.
This note has been inspired by by wife Minaz. She is an amazing lady. She is smart, funny, sexy, passionate, and headstrong. She never lets me get away with crap. Especially when she knows I can do better.
So this morning she challenged me. Not in any sort of rude or degrading way. What she was saying was, “Come on Karim! You can do better than this! Your family deserves more and you deserve more!”
So, Minaz, not only is this post dedicated to you; but so am I. I will do whatever I can and more to make sure that I do you and our son, Kahzmir, proud!
Love,
Karim