links between Canada and Poland
By BOGDAN KIPLING
Fri. Apr 11 - 2:06 PM
IS THERE a link between NATO and the travails of a Halifax investor in Poland?
No, there isn’t – except in a travel route way.
Prime Minister Stephen Harper went to Bucharest, Romania, a week ago to attend this year’s NATO summit.
After it ended, he moved on for a visit in Poland, a fellow NATO member, for bilateral talks with Prime Minister Donald Tusk. More on that later.
Canada’s relations with Poland have not been as good as they could have been over the years. In the past, many Poles saw Canada as indifferent to, maybe even tolerant of, communist thuggery; and Grit and Tory governments alike treated Poland as marginally interesting, at best.
Perhaps it took the tragedy of Robert Dziekanski, the Polish traveller Tasared to death at Vancouver’s airport last October, and Canada’s desperate need for helicopters to take Canadian soldiers off Afghanistan’s ambush-ripe roads to press Ottawa and Warsaw into a closer engagement.
Fierce indignation in Canada and Poland over the Vancouver death may have speeded up Ottawa’s decision to lift the visa requirement on Polish visitors. And of all the NATO allies, Poland alone offered Canada some of its helicopter fleet.
But Mr. Harper can do much more. He can open up a big, promising investment vista for Canadian capital in the European Union’s biggest and most dynamic of the new member countries.
There has got to be room at the top. Canadian investment in Poland, the Globe and Mail reported the other day, has been increasing, “hitting" $237 million in 2005.
Hitting is not the word I would have used when talking about modest sums. Poland is attracting some big bucks these days, but Mr. Tusk has it in his hand to attract far more.
All he has to do is clean up corruption.
He can start with making his own government’s Ministry of the Treasury curb the lawlessness of the people running state-owned enterprises. The case in point here is Dessaport International Corp., a Halifax-based private holding company.
Dessaport is 40 per cent owner of Europort Inc., the stalled state-of-the-art grain terminal in the Port of Gdansk – property of the Polish Treasury.
Europort Inc. holds the lease on arguably the choicest deepwater pier anywhere on the Baltic and started work on its grain terminal soon after financing had been secured. It sank $34 million into concrete and equipment before the Port of Gdansk – the dear landlord – harassed and strong-armed it to a standstill – at gun point on one occasion.
Donald LeBlanc, a Haligonian, is president of Dessaport and Europort’s technical expert. He joined the Europort enterprise as junior partner of Joseph D’Andrea, a Scranton, Penn., builder, industrial developer and venture capitalist.
The partnership, formed a decade and a half ago, endures as the two visionaries fight for their property rights with Poland’s – let me put it politely – less than transparent government bureaucracy and expensive legal system.
Joe D’Andrea and Don LeBlanc sank $40 million into the endeavour. I imagine they would want to complete it because the grain trade is sound business that will never fade.
Joe D’Andrea and Don LeBlanc were hailed as the models of a better future when they got Europort off to a flying start in the late 1990s. By 2002, a particularly brutish and corrupt post-communist government took over in Warsaw and the American-Canadian duo soon faced nothing but obstruction, deceit, demands for bribes and, on one occasion, armed thugs with guns drawn trying to force them off their pier.
Poles have elected two governments since. In 2005, the ferociously anti-communist Law and Justice party pledged to purge corruption. That government collapsed in chaos and corruption, and was swept out of office by the pro-business Civic Platform led by Mr. Tusk.
The Canadian prime minister can do much to redress the wrongs inflicted on Europort.
He can press their case directly on Mr. Tusk – and he wouldn’t have to strain. Donald Tusk knows all about Europort. He is a Gdansk native. Gdansk is his political base. He would know all the players in this nasty situation and where all the bodies are buried.
Canadian diplomats in Poland see Europort as “the biggest irritant" in Ottawa’s relations with Warsaw and briefed Mr. Harper prior to his dinner meeting – in Gdansk – with Mr. Tusk.
Mr. Harper, it seems to me, has made a good start on a link Canada never had in Central Europe. If he persists, he could end up creating a market Canadian businesses have hardly looked at in the past.
Poland too stands to gain.
Canada is both a good market and a good source of investment capital. But confidence is crucial for that segment to develop, and fair treatment of Europort’s Canadian and American backers might just be the ticket.
Bogdan Kipling is a Canadian journalist in Washington.
(bkipling@herald.ca)
Saturday, April 12, 2008
Polish American Congress
400th anniversary of the arrival of the first Poles in Jamestown on October 1, 1608।
Washington Metropolitan Area Division
in cooperation with the
Georgetown University Polish Club
Cordially invites you
to a lecture and discussion with
Dr. James S. Pula, Professor of History
Purdue University – Westville, Indiana
"Jamestown Pioneers from Poland - The Historical Evidence:
What We Know and Don't Know about Them"
Sunday, April 20, 2008, at 3:00 p.m.
Georgetown University
Intercultural Center
Room 115
Join us as the PAC Washington Metro Division celebrates the 400th anniversary of the arrival of the first Poles in Jamestown on October 1, 1608. See this PowerPoint presentation and learn more about them. Help launch the PAC Washington Metro Division's Jamestown Art Contest. Acquire a copy of the brochure "Jamestown Pioneers from Poland," reprinted in 2007 by the PAC Charitable Foundation, available for purchase at $5 per copy.
The event is free and open to all. No reservations required.
Commercial parking is available at Leavy Center (entrance from Reservoir Road & 38th St., NW, at Georgetown University Hospital).
Washington Metropolitan Area Division
in cooperation with the
Georgetown University Polish Club
Cordially invites you
to a lecture and discussion with
Dr. James S. Pula, Professor of History
Purdue University – Westville, Indiana
"Jamestown Pioneers from Poland - The Historical Evidence:
What We Know and Don't Know about Them"
Sunday, April 20, 2008, at 3:00 p.m.
Georgetown University
Intercultural Center
Room 115
Join us as the PAC Washington Metro Division celebrates the 400th anniversary of the arrival of the first Poles in Jamestown on October 1, 1608. See this PowerPoint presentation and learn more about them. Help launch the PAC Washington Metro Division's Jamestown Art Contest. Acquire a copy of the brochure "Jamestown Pioneers from Poland," reprinted in 2007 by the PAC Charitable Foundation, available for purchase at $5 per copy.
The event is free and open to all. No reservations required.
Commercial parking is available at Leavy Center (entrance from Reservoir Road & 38th St., NW, at Georgetown University Hospital).
Friday, April 11, 2008
Payment risks: positive change based on economic growth
Payment risks: positive change based on economic growth
Payment risks decreased compared to previous years (2004 to 2006) primarily a consequence of a change in economic growth. However, as fundamental changes in combating late payment are still absent, payment risks will start to increase again in the near future. From the ten largest European economies, seven (Germany, Great Britain, France, Spain, the Netherlands, Belgium and Poland) show lower payment risks, one the same (Greece) and two show higher risks (Italy and Denmark).
Public authorities remain the worst payers
Payment duration decreased on a Pan-European level compared to the previous three years, remaining above the Spring 2004 value:
Spring 2004: 58.2 days
Spring 2005: 58.8 days
Spring 2006: 59.2 days
Spring 2007: 58.6 days.
All three customer groups contributed to the positive payment trend, however with strong regional and local differences. On a Pan-European level (average of all countries) payment duration in the consumer market reduced from 42.5 days in Spring 2006 to 42.0 days, in the business customer market from 59.9 days to 58.6 days and in the public sector from 69.8 days to 68.9 days.
Payment risk trend 2007: modest pessimism
The companies surveyed are modestly pessimistic regar-
ding payment risk development during 2007 (-3.8%)*. Companies in the Baltic (+18%) are most optimistic whilst the companies in the German speaking area (-10%) and those based in the Greek speaking area (-10%) show the most pessimistic forecast. Hungary, the only country in the Central Eastern European and Baltic region suffering from increasing payment risks, shows the most pessimistic value (-31%) from all 25 countries surveyed, whilst Latvia (+30.7%) followed by Hungary’s neighbours’ Slovakia (+18.4%) and Czech Republic (+18.2%) show the most optimistic forecasts.
* The Risk Forecast Index shows the balance in % of the companies forecasting a decrease in payment risks and the % of the companies forecasting an increase. A positive %age represents a balance of companies forecasting a decrease and vice versa.
For further information, please contact:
Intrum Justitia, GISL, Stockholm
Madeleine Bosch, Head of Research EPI
Tel: +31 70 452 7323
Mobile: +31 6 46 21 25 79
E-mail: public-relations.epi@intrum.com
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group, with revenues of approximately SEK 2.8 billion (USD 375 million) and around 2,900 employees in 24 European markets. Intrum Justitia strives to measurably improve customers’ cash flows and long-term profitability by offering high quality in relationships with both customers and debtors in each local market. The group offers a wide range of services to manage commercial and consumer receivables. Intrum Justitia AB (ticker IJ) is listed on the OMX Nordic Exchange in Stockholm. Fore more information, please visit http://www.intrum.com/
Overview about payment risks measured by Payment Index
(values shown: Spring 2007 - Spring 2006 - Spring 2004)
1 Finland 124 125 123
2 Sweden 126 129 127
3 Norway 130 131 137
4 Denmark 132 131 126
5 Iceland 134 136 130
6 Ireland 141 --- 143
7 Switzerland 142 146 148
8 Scotland 142 --- ---
9 France 145 147 146
10 Latvia 148 155 157
11 The Netherlands 149 154 153
12 UK 150 152 154
13 Germany 151 155 156
14 Estonia 151 153 157
15 Belgium 154 161 162
16 Italy 157 153 152
17 Spain 158 161 166
18 Lithuania 158 159 167
19 Poland 159 162 161
20 Slovakia 160 --- ---
21 Hungary 160 158 156
22 Cyprus 172 --- ---
23 Czech Republic 173 --- 176
24 Greece 174 --- ---
25 Portugal 182 183 191
Payment Index
The payment index is used to compare different economies, regions or sectors. Alongside technical financial figures, the index is based on assessments from the companies surveyed. The data forming the basis of the index is generated twice yearly using a standardised written panel survey. List of basic data elements: Contractual payment term (in days); Effective payment duration (in days); Age structure of receivables (DSO); Payment loss (in %); Estimate of risk trends; Characteristics of the consequences of late payment; Causes of late payment. The Payment Index is calculated from eight differently weighted sub-indices, which are based on a total of 21 individual values.
Payment Index - Implications for Credit Policy
100 no payment risks, i.e. payments are made in cash, on time (or in advance) and without any credit
101 - 124 preventive actions - measures to secure the current situation are recommended
125 - 149 need to take action
150 - 174 strong need to take action
175 - 199 major need to take action
over 200 urgent need to take action
Optimize your operational profit
Intrum Justitia gives you the opportunity to compare key operational figures for your company with average market values and Best Practice values. The tailor-made report calculates the individual risks for the company and presents comparisons of payment history of customers, the age structure of outstanding receivables as well as payment losses. Furthermore, potential improvement opportunities (capital commitment, profit optimisation) are identified and calculated. This unique expert tool includes values from 26 European markets. The European Payment Benchmark report is available free of charge. To get access
Payment risks decreased compared to previous years (2004 to 2006) primarily a consequence of a change in economic growth. However, as fundamental changes in combating late payment are still absent, payment risks will start to increase again in the near future. From the ten largest European economies, seven (Germany, Great Britain, France, Spain, the Netherlands, Belgium and Poland) show lower payment risks, one the same (Greece) and two show higher risks (Italy and Denmark).
Public authorities remain the worst payers
Payment duration decreased on a Pan-European level compared to the previous three years, remaining above the Spring 2004 value:
Spring 2004: 58.2 days
Spring 2005: 58.8 days
Spring 2006: 59.2 days
Spring 2007: 58.6 days.
All three customer groups contributed to the positive payment trend, however with strong regional and local differences. On a Pan-European level (average of all countries) payment duration in the consumer market reduced from 42.5 days in Spring 2006 to 42.0 days, in the business customer market from 59.9 days to 58.6 days and in the public sector from 69.8 days to 68.9 days.
Payment risk trend 2007: modest pessimism
The companies surveyed are modestly pessimistic regar-
ding payment risk development during 2007 (-3.8%)*. Companies in the Baltic (+18%) are most optimistic whilst the companies in the German speaking area (-10%) and those based in the Greek speaking area (-10%) show the most pessimistic forecast. Hungary, the only country in the Central Eastern European and Baltic region suffering from increasing payment risks, shows the most pessimistic value (-31%) from all 25 countries surveyed, whilst Latvia (+30.7%) followed by Hungary’s neighbours’ Slovakia (+18.4%) and Czech Republic (+18.2%) show the most optimistic forecasts.
* The Risk Forecast Index shows the balance in % of the companies forecasting a decrease in payment risks and the % of the companies forecasting an increase. A positive %age represents a balance of companies forecasting a decrease and vice versa.
For further information, please contact:
Intrum Justitia, GISL, Stockholm
Madeleine Bosch, Head of Research EPI
Tel: +31 70 452 7323
Mobile: +31 6 46 21 25 79
E-mail: public-relations.epi@intrum.com
Intrum Justitia is Europe’s leading Credit Management Services (CMS) group, with revenues of approximately SEK 2.8 billion (USD 375 million) and around 2,900 employees in 24 European markets. Intrum Justitia strives to measurably improve customers’ cash flows and long-term profitability by offering high quality in relationships with both customers and debtors in each local market. The group offers a wide range of services to manage commercial and consumer receivables. Intrum Justitia AB (ticker IJ) is listed on the OMX Nordic Exchange in Stockholm. Fore more information, please visit http://www.intrum.com/
Overview about payment risks measured by Payment Index
(values shown: Spring 2007 - Spring 2006 - Spring 2004)
1 Finland 124 125 123
2 Sweden 126 129 127
3 Norway 130 131 137
4 Denmark 132 131 126
5 Iceland 134 136 130
6 Ireland 141 --- 143
7 Switzerland 142 146 148
8 Scotland 142 --- ---
9 France 145 147 146
10 Latvia 148 155 157
11 The Netherlands 149 154 153
12 UK 150 152 154
13 Germany 151 155 156
14 Estonia 151 153 157
15 Belgium 154 161 162
16 Italy 157 153 152
17 Spain 158 161 166
18 Lithuania 158 159 167
19 Poland 159 162 161
20 Slovakia 160 --- ---
21 Hungary 160 158 156
22 Cyprus 172 --- ---
23 Czech Republic 173 --- 176
24 Greece 174 --- ---
25 Portugal 182 183 191
Payment Index
The payment index is used to compare different economies, regions or sectors. Alongside technical financial figures, the index is based on assessments from the companies surveyed. The data forming the basis of the index is generated twice yearly using a standardised written panel survey. List of basic data elements: Contractual payment term (in days); Effective payment duration (in days); Age structure of receivables (DSO); Payment loss (in %); Estimate of risk trends; Characteristics of the consequences of late payment; Causes of late payment. The Payment Index is calculated from eight differently weighted sub-indices, which are based on a total of 21 individual values.
Payment Index - Implications for Credit Policy
100 no payment risks, i.e. payments are made in cash, on time (or in advance) and without any credit
101 - 124 preventive actions - measures to secure the current situation are recommended
125 - 149 need to take action
150 - 174 strong need to take action
175 - 199 major need to take action
over 200 urgent need to take action
Optimize your operational profit
Intrum Justitia gives you the opportunity to compare key operational figures for your company with average market values and Best Practice values. The tailor-made report calculates the individual risks for the company and presents comparisons of payment history of customers, the age structure of outstanding receivables as well as payment losses. Furthermore, potential improvement opportunities (capital commitment, profit optimisation) are identified and calculated. This unique expert tool includes values from 26 European markets. The European Payment Benchmark report is available free of charge. To get access
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