CIPH provides economic outlook at Ontario Region Business Meeting

The Canadian Institute of Plumbing & Heating (CIPH) highlighted progress made in 2013, recognized member accomplishments, and offered an economic forecast for 2014 at its Ontario Region Business Meeting. A total of 110 people attended the event held at the Mississauga Convention Centre in Mississauga, ON on January 17, 2014, featuring personal finance expert, Preet Banerjee.

CIPH chairman Robert Whitty said in 2013 the institute worked with federal and provincial governments to bring awareness to anti-counterfeiting issues and to streamlining industry standards in North America. CIPH members also met with politicians during the “Day On The Hill” and will be doing so again this spring “to ensure our member’s concerns are heard and addressed,” he said.

Whitty emphasized the need for members to get more involved with CIPH and to help cultivate a positive image of the industry to make it attractive to young recruits. “We need to bring some fresh talent in,” he said. “It’s a great place to have a career.” He also noted the institute signed a memorandum of understanding in June 2013 with the Heating, Refrigeration and Air Conditioning Institute of Canada to work together on policy issues.

Guest speaker Preet Banerjee, host of Million Dollar Neighbourhood on The Oprah Winfrey Network and financial panelist on CBC’s The National, said in terms of the overall Canadian economy, it’s been a recovery that does not really feel like a recovery.

“Last year was an amazing year on the stock market,” he said, adding that many financial analysts are saying interest rates could be cut at the end of 2014 in order to stimulate the economy. “Economics is the only field in which two people can get a Nobel Prize for opposing ideas.”

Banerjee said the biggest threat facing the Canadian economy is the amount of household debt, which has skyrocketed in part because income increases have not kept up with rising housing costs. “Budgeting is the cornerstone of personal finance but too many people budget only out of necessity,” he said. “We need to start hating debt again.”

During the meeting Lifetime Service Awards were given to:

• Duncan Stacey, president and CEO, Howell Pipe & Supply;
• Wayne Singer, principal, Howell Pipe & Supply;
• Drew McVittie, director of IT and operations, Emco;
• Irene Circelli, cash applications specialist, Emco; and
• Dan Jagelewski senior programmer/analyst, Emco.

The next CIPH Ontario Region Business Meeting will take place on April 10, 2014 at the Casablanca Winery Inn in Grimsby, ON.