Your journey inspires us
November 16, 2021
We're proud to be part of our clients’ journeys and to help them make their ambitions real.
Transcript: CIBC ambition stories — T&T Line Construction
[Soft music playing]
[The red CIBC logo slides in on the top-left corner. Multiple quick flashes of lightning streak across the dark sky, illuminating the dark purple clouds. An empty street with houses on either side. Hurricane-force winds whip trees and power lines back and forth, rain falls heavily, pooling on the road. The red CIBC logo in the top-left corner fades out.]
>>Barrie Hall: Our busy season really starts in June. The hurricanes start spinning up at that time.
[A palm tree whips side to side as heavy rain falls. A strong gust of wind blows a large piece of a roof off of a building. A highway stretching off into the distance, with light traffic in the many lanes, running alongside the ocean, where waves break along the shore. Three people wade slowly and carefully through thigh-high flood water towards a building with a large nature mural on the side. Ahead of them, 2 women stand throwing belongings into a pickup truck through the truck’s windows.]
>>Barrie Hall: We’ve traveled most of the eastern seaboard as far as Miami, Florida …
[Tim Noble and Barrie Hall, CIBC Clients]
>>Tim Noble: Alabama.
[Tim Noble and Barrie Hall sit side by side inside a large industrial-sized garage. Two orange and white bucket lift trucks are parked behind them. A heavy rain obscures all but the silhouettes of trees and power lines along a road. In the foreground, hydro poles and power lines lean over, and others lay strewn about, splintered and twisted on the road.]
>>Barrie Hall: Georgia, to bring the power back.
[Two workers, in bucket lifts work at the top of a hydro pole, fixing and attaching wires. The workers are silhouetted against the darkening sky. A black SUV slowly moves between 2 rows of trucks.]
>>Barrie Hall: And when we roll in as a company, people cheer because they know that we’re there to help them and to possibly save lives.
[Close-up on the front wheels of the black SUV as it comes to a stop. Close-up on the open driver’s side window of the black SUV. Barrie Hall sits in the driver’s seat and opens the door to get out. Tim Noble stands in silhouette in a darkened garage. His back is to the camera and he is facing a large white garage door, which is slowly opening, moving upwards. As the garage door opens, light streams into the garage, revealing the large fleet of orange and white trucks parked outside.]
>>Barrie Hall: And we just kept growing and growing because the demand was there. And that’s when we reached out to CIBC for support.
[Looking into the garage, Tim Noble steps out of the garage into the sunlight.]
[T&T Line Construction, Fredericton, New Brunswick]
[Close-up on a man’s hands putting on thick brown work gloves with bright yellow stripes on the backs. The man carries a green safety harness in front of him as he walks outside, past a row of white T&T Line Construction trucks.]
>>Barrie Hall: When Tim and I decided we’d form this company, we started out thinking we were gonna have 5 trucks each.
[Close-up on a man’s hands. He holds a coil-shaped metal part on a rectangular frame in front of him. He gently places the coil-shaped metal part into an open space of a truck’s panel. Close-up on the man carrying a clipboard holding a form.]
>>Barrie Hall: We’ll do a little work, help some people out.
[Tim Noble and Barrie Hall sitting side by side inside the large garage.]
>>Tim Noble: Weekend trip.
>>Barrie Hall: Yeah, a weekend trip, yeah. [Laughs]
[Close-up on the headlights and grilles of a row of white T&T Line Construction trucks. Close-up on the headlights and grilles of another, longer row of white T&T Line Construction trucks.]
>>Barrie Hall: We went from 5 trucks, 10 trucks, 20, to 40.
[Tim Noble, sitting in front of orange and white parked bucket lift trucks inside the garage.]
>>Tim Noble: Today we’ve got over 200 vehicles in our fleet.
[A male T&T Line Construction worker closes a panel on the side of one of the white trucks in the parking lot. Another worker climbs into the passenger seat of the truck through the open door. The previous man puts on his seatbelt in the driver’s seat.]
>>Barrie Hall: Once we get that call, and things start spinning up, the meter is rolling at that time.
[Doors to the truck close. Close-up of a driver’s side door closing, revealing the T&T Line Construction Ltd. Logo on the outside. Overhead view as the 2 long lines of T&T Line Construction trucks in the fleet start driving down the centre aisle and offscreen one by one, leaving only a few trucks, spaced out, still sitting in the lot.]
>>Barrie Hall: The cost? It’s quite phenomenal.
[A white truck drives through the now nearly empty lot and then different roads. The view from the driver’s side door moves along with the truck.]
>>Barrie Hall: We have to feed everybody, fuel the vehicles, lodge everybody, it’s a lot of money.
[The driver sits in the driver’s seat, in profile, looking forward. A view through the windshield of the truck with oncoming traffic and open road ahead. Close-up on a dark blue suit jacket lapel, where a silver pin with the CIBC logo on it. Two men wearing suits with their backs to the camera walk towards Tim Noble and Barrie Hall across a parking lot.]
>>Barrie Hall: Knowing that CIBC is behind us and we can depend on them, that makes them an integral part of our team.
[Close-up on the men’s hands as they shake hands. Tim Noble and Barrie Hall sitting side by side back inside the garage. Close-up on Barrie Hall as he continues to speak.]
>>Barrie Hall: I feel that they understand that when we’re out rolling, they gotta be right there rolling with us.
[Five men sit on metal folding chairs in a circle inside the garage. Close-up on Tim Noble and Barrie Hall as they both smile widely and converse with the other men.]
>>Barrie Hall: The team at CIBC has been great for us, getting some financing in place to help us not have to worry when we’re on one of these trips.
[Close-up on Barrie’s hands as he moves them expressively while he speaks to the other men. Close-up on a man in a black suit. He is nodding slowly as he listens with an interested expression. Close-up on a man in a grey suit. He nods as he speaks. Barrie Hall speaks while in the garage, sitting in front of the orange and white trucks. The men sit in a circle on folding chairs in the parking garage talking, all leaning in and talking intently and smiling.]
>>Tim Noble: Once they found out what we were doing, and what our needs were, it helped us a long way in getting to where we are.
[Tim Noble speaks while sitting in the garage, in front of the orange and white trucks. Close-up on the silver CIBC pin on the man in the grey suit’s lapel. Close-up of the same man in profile as he speaks to the others.]
>>Barrie Hall: But they’ve also helped us individually to look at our future. Not only us as individuals, but our families.
[Barrie Hall sits in a metal folding chair in the garage, in the circle with the other men, smiling, laughing and nodding at something offscreen. Close-up on Tim Noble as he sits in the circle, talking to the other men. He has a thoughtful expression, and is speaking to someone offscreen. A wide view of the garage shows the whole circle of men in metal folding chairs, talking.]
>>Barrie Hall: We have this wealth through what we’ve done and how we’ve grown, and they’ve been helping us manage all that.
[Close-up on a truck driver’s hands on the steering wheel. Close-up on the face of the driver, who is revealed as Tristen Noble, Tim’s son. A wider view of Tristen as he turns the truck into a driveway.]
>>Barrie Hall: It’s something that needs to really be pushed forward, to the new generation. It’s not only about us, it’s about reaching out, and helping people within the community as well.
[Tim Noble and Barrie Hall sitting side by side inside the garage. Barrie moves his hands expressively as he speaks. A wide view of the garage shows the whole circle of men in metal folding chairs, talking. The camera slowly moves around Barrie Hall and Tim Noble sitting in the circle of men.]
>>Tim Noble: CIBC has exceeded my expectations.
[Barrie Hall, in the garage, sitting in front of the orange and white trucks. He moves his hands expressively as he speaks. Close-up on Tim Noble’s face. He is smiling and looking offscreen.]
>>Barrie Hall: We feel comfortable knowing that CIBC is behind us. They have our back so that we have our clients’ back. It’s a really good feeling.
[Close-up on Barrie Hall’s face as he laughs heartily. The screen fades to red as the CIBC logo flies into the centre of the screen in white.]
[CIBC. Ambitions made real™.
The CIBC logo and “Ambitions Made Real” are trademarks of CIBC.]
[Soft music ends]
[Screen fades to black]
COVID-19—What investors need to know
March 03, 2020
As COVID-19 continues to spread, market volatility persists. Whether a best- or worst-case scenario plays out, what does this mean for you as an investor?
COVID-19 – What Investors Need to Know
[Soft music plays]
[Onscreen Text: Avery Shenfeld, Chief Economist, CIBC World Markets]
AVERY: So, if I were a real doctor as opposed to a Doctor of Economics, maybe I would have a good chance of telling you where this is going. There's still a number of paths this could take in terms of how long it takes to see the peak in infections, how many people get ill, how much social distancing we have in terms of people avoiding activities and travel.
[Onscreen Images: An overhead shot of a train speeding down the tracks. A low angle shot of a plane flying.]
AVERY: But what's clear is that it is spreading in the US. Is going to have a dent in economic growth for at least a couple of quarters.
[Onscreen Images: A finger scrolls through a stock-graph on a tablet screen.]
AVERY: And therefore, that's why we're seeing financial markets gyrate as they try to figure out, which of those various stories from slightly negative to more significantly negative this ends up being.
[Onscreen Title: Economic impact on Canada]
AVERY: So, people often cite the SARS example in Canada as a mild instance of something similar. The difference here, though, is that SARS was only impacting a couple of Canadian cities.
[Onscreen Images: A time-lapse shot of the Toronto skyline at dawn]
It really wasn't a global story per say, and it was so deadly in effect that it petered out pretty quickly. People weren't walking around with it, giving other people the illness. But what we did see in SARS is we had a couple of months for Canada's economy actually declined, even though it was concentrated in a couple of cities. So, I think that gives you a sense that, yes, this is going to take a bite out of economic growth. I think the mild version of this story is that it's more of a problem abroad than in North America, that we slow the infection rate so that it still hits a lot of places, but it's stretched out over time and that the economy maybe has a negative quarter kind of muddles along a little bit after that. In the worst case, we could have multiple quarters where economic growth is severely hit. It takes too long for the transmission rate to slow and we're looking at something more damaging. Although I would say that one difference here from, say, a normal recession type outcome is we would know throughout that at some point this will pass and that the economy will rebound when activity gets back to normal.
[Onscreen Title: Advice for investors]
AVERY: I would be cautious about concluding that the worst is over. Remember, we've only had one or two days now, as I'm speaking, where we've known that this is spreading in the U.S., so I think there's definitely going to be some negative news on business disruption, on economic disruption that hasn't yet hit the market. And remember, the decline we saw also was from, in the case of the U.S. market, from a new all-time high. So, stocks are not low relative to they were a couple of years ago. I think the right advice for clients is to concede that we simply don't know how this is going to play out in terms of the course of the disease, and therefore the course of the economic impact and that a portfolio that's not too aggressive still makes sense.
AVERY: There's been a lesson here for investors, hopefully a lesson that we learned in previous episodes like this, which is that there's no better protection than a diversified portfolio. So, in this case, as stocks were selling off, the bond market was actually rallying. So, a balanced portfolio that it had a good position in long term bonds would have actually at least had some important offsets. And even within the equity market, you're going to have to go to the supermarket or at least order those groceries. There are some segments of the economy and therefore the financial markets that aren't going to be as affected as others. So, this is a lesson, if we needed one, that a well-balanced portfolio makes sense during good times and bad. And I think that's the lesson we still need to stick with now as investors.
[Onscreen Text: This video is provided for general informational purposes only and does not constitute financial, investment, tax, legal or accounting advice nor does it constitute an offer or solicitation to buy or sell any securities referred to. Individual circumstances and current events are critical to sound investment planning; anyone wishing to act on this document should consult with his or her advisor. All opinions and estimates expressed in this video are as of the date of publication unless otherwise indicated, and are subject to change.
®The CIBC logo is a registered trademark of Canadian Imperial Bank of Commerce (CIBC).]
The material and/or its contents may not be reproduced without the express written consent of CIBC.]