JOEY Restaurants offer a piece of the company to young employees

JOEY Restaurant Group recently announced the launch of a recruitment campaign to find its next generation of young leaders. The JOEY Owners’ Club highlights the JOEY Employee Investment Trust (JEIT), designed to offer the organization’s top talent an opportunity to own a piece of the company and share in attractive returns.

JEIT provides employees the chance to purchase shares in a pool of the company’s established restaurants. A typical investor in JEIT is approximately 34 years old, and in many cases is someone who started with the company in an entry level position, such as a line cook, server or dishwasher, and have progressed to senior management levels.

“Through JEIT our people participate in the company’s overall success,” says Jeff Fuller, Founder and CEO, JOEY Restaurant Group. “The program fosters an entrepreneurial spirit in our managers and rewards them for their efforts.”

JOEY first launched JEIT in January 2011 and made the opportunity available to its head chefs, general managers and head office employees. Thirty of the company’s leaders purchased shares in the first round of investment, with a median investment of $104,000. The first participants in the trust are now seeing healthy double-digit returns on their investment.

One such investor is Deni Kennedy, 31, General Manager of JOEY Burrard (Vancouver). Deni began with the company as a table setter.

“I like the fact that I know more about the inner workings of the company than I would about other investment vehicles,” says Deni. “I know exactly how our company is doing and I play a key role in how well my investment performs.”

Through the JOEY Owners’ Club campaign, the restaurant group hopes to attract the best and brightest candidates. The company is looking for ambitious individuals who want to operate their own business and are interested in a career with tremendous growth potential. The campaign includes online and print ads in business and hospitality industry publications, as well as a social media and public relations program.

The company operates restaurants throughout BC, Alberta, Manitoba, Ontario, and Washington State.

Quest University student offers U.S. watershed solution

The Journal of the American Water Resources Association (JAWRA) recently published a paper that was co-authored buy a Quest University Canada student, Noelani (Olenka) Forde and her professor, Rich Wildman. The news took the Calgary, Alberta, native by surprise as she produced the work while in her first year of studies.

The original school assignment required students to calculate the water balance of the Colorado River’s Lake Mead, the largest water reservoir in the United States. Management of this resource has become topic of discussion as municipal and agricultural users continue to consume more water than flows down the river in an average year. Students were challenged to predict when the reservoir will run out of water.

The paper explores the viability of interstate water trading as a way to add flexibility into the system during times of water shortage. This is the concept that Noelani first presented in her April 2010 assignment.

“Noelani’s answer to this assignment was impressively elegant and insightful,” says visiting professor Rich Wildman, who taught the Earth-Oceans-Space course.  “She proposed a cap-and-trade system such as that being applied to CO2 emissions, and then she explained the basic ideas of how it would work. Noelani essentially described the major elements of Australia’s successful Murray-Darling Basin interstate water trading system, without ever having heard of it before! She ended up with the highest grade in a highly technical class… this wasn’t a lucky single moment of excellence on her part.”

Noelani, has now completed her third year at Quest and is still trying to process her success.

“We’ve been working on this for so long now, and I still can’t quite believe that it has really happened,” she says from her Calgary home. “I have learned so much along the way; not the least of which is that water markets are incredibly complex and need to be thoroughly planned out depending upon the context. I’m so grateful to Rich for taking the time to nurture my idea, undertake so much more research, and then actually publish the paper! I was very surprised when he first approached me with the idea, and it’s a real tribute to the small classes and amazing opportunities available through Quest to work so closely with the faculty.”

Forde and Wildman’s paper– Management of Water Shortage in the Colorado River Basin: Evaluating Current Policy and the Viability of Interstate Water Trading, is available online at http://onlinelibrary.wiley.com/doi/10.1111/j.1752-1688.2012.00665.x/abstract.