Investment corp fires back
BDIC calls statements from NWT Chamber of Commerce 'misinformation'
Karen K. Ho
Northern News Services
Monday, April 13, 2015
SOMBA K'E/YELLOWKNIFE
The NWT Business Development and Investment Corporation (BDIC) is firing back at what it says is misinformation about its accomplishments and activities through statements made by the Northwest Territories Chamber of Commerce.
In late March, News/North reported on findings from a 104-page review of the Crown corporation completed by Yellowknife accounting firms Biswanath Chakrabarty & Co. CGA, Mackay LLP, as well as Toronto-based Cathaxis Consulting.
That article included quotes from the chamber's executive director, Mike Bradshaw.
After his interview, Bradshaw called News/North's offices asking to retract his comments, citing directions from the chamber's board of directors.
"The board doesn't want me commenting on BDIC," he said, acknowledging he had just turned down speaking to another media outlet.
Multiple calls to chamber president, Allen Stanzell, and vice-president Ayanna Ferdinand Catlyn, were not returned.
Bradshaw also was not present at the BDIC's 10th anniversary event held at the Explorer Hotel in Yellowknife on April 1.
That night, BDIC's board of directors also released a formal statement to "set the record straight."
The board also published a booklet touting its accomplishments in helping NWT businesses. This included a chart comparing the organization's loan loss provision to five other provincial Crown corporations that also served as lenders of last resort.
According to the BDIC, in that graphic, only Investissement Quebec had a lower percentage.
BDIC's chairman, Darrell Beaulieu, told News/North there was no communication with his organization regarding the review.
"The board and management response weren't taken a look at," he said, in reference to two separate documents currently listed on the BDIC's website.
Beaulieu said he did receive a call from Stanzell, about the possibility of the BDIC making a presentation to his directors.
Following that conversation, Beaulieu said the relationship between the two organizations requires more interaction and co-operation.
"We live in such a small jurisdiction in the NWT," he said.
"I think it's important that organizations in the North due work together and communication is key in moving the territorial economy."
