Features
Morley Greene: Trez Capital is Trés Terrific
By GERRY POSNER “Serendipity” is how Morley Greene describes what has brought him success in life. Perhaps he’s right, but I concluded, after chatting with him and reading articles about him – the most recent one in the Toronto Globe and Mail, that it was more than serendipity that has given Morley the life that he has now at age 81.
The only child of Abe and Sara Greenberg, Morley was raised across the street from St. John’s High School at Machray Avenue and Salter Street. Not surprisingly, he attended St. John’s High School, though he ultimately graduated Grade 12 at West Kildonan Collegiate. Morley admits he was a disinterested student. His tenacity carried him through though and, as he got older, his interest in learning blossomed.
Law was the path Morley Greene chose and it was a part of his life for over 32 years, after graduating from the University of Manitoba law school. His law career began in Winnipeg, then Edmonton and finally, Vancouver. His career took off almost right from the start, and it was not long after that he started his career that he was made a partner at the very prestigious law firm of Buchwald Asper Henteleff.
The future looked promising and soon after he was married, he was the father of three children. In 1976, Morley, just 35 years old, and with a young family, made a bold decision – a decision which changed his life forever. He decided to leave Winnipeg and try to take his tent and talent elsewhere. He credits the late Izzy Asper with paving his way to another high powered law firm in Edmonton. Izzy called his friend, Aaron Shtabsky, and soon Morley was ensconced at Shtabsky and Company. He specialized in tax, mortgages and the real estate industry. Had Morley remained in Edmonton, it would likedly have been all that he needed for the rest of his life in order to be a financial success.
But then another opportunity presented itself to Morley. The Imperial Development Group came calling. This company, led by Donald Gales, Gerald Libling and Gerald Raizen was in the midst of major property acquisitions and development in Winnipeg and elsewhere. Morley was invited to join the company in an executive capacity. It was a major step up for Morley.
In 1979, he and his family moved back to Winnipeg and things went well – until they didn’t. The high interest rates of the 1980s were no doubt a key factor in the eventual dissolution of the Imperial Group. Morley Greene had to start over.
In 1991 he headed further west – this time to Vancouver, where he joined the very well know law firm of Owen Bird. He became licensed to practice law in British Columbia, his third call to the Bar – after Manitoba and Alberta. For six more years Greene was once again a hard working lawyer in a big firm. But then Morley made a second major decision that changed the course of his entire career. In 1997, he gave up law and decided to take on an entirely new challenge in an industry for which he had been advising as legal counsel for a significant part of his legal career.
In 1997 Morley struck out on his own and started a corporation he called Trez Capital (the name came from a variation of the French word “Treize,” which means thirteen). The company began as a mortgage lender. I will not dig deep into all the projects with which Trez Capital has been involved over the years, but there are very many.
Trez Capital has set new standards for the industry over the past 25 years with institutional-grade processes and strict compliance adherence. The history of the company is well recorded in the recent Globe and Mail article featuring Morley and the story of Trez to which I referred earlier.
What is important to acknowledge is this: From nothing (well not quite, as Morley did raise $3 million dollars to start with from private investors), Morley has made Trez the biggest real estate lender in Canada after the banks. Dwell on that statement. The company has funded more than 1600 transactions for a total value of $14 1/2 billion (you read that right), all channeled into different multi-family dwelling, industrial and office projects.
Trez Capital is active all over Canada and the US. The company has offices in Toronto, Montreal, Dallas, Palm Beach, Atlanta, New York, Seattle, Los Angeles and Vancouver. The company has over 170 employees and assets of over $4 billion under its management. Think about it – all that from a Winnipeg kid from the north end.
I would suggest that part of what made Morley and his company so successful is the way he approaches his work and indeed, his relationships with the people around him. Morley interacts well with everyone and demonstrates a genuine interest in them. Moreover, he is not afraid to admit mistakes. He was quite concerned, for instance, that as a result of the Covid pandemic, Trez Capital would face unpredictable problems, so the company made the decision to stop lending.
Morley anticipated defaults coming – and a lot of them. He was wrong – and he admits it. Instead, there were no defaults and, in fact, Trez Capital had a record number of payoffs on its loans. The result of all that is that, throughout the pandemic the company has remained in good shape and it has resumed investing and lending across North America.
Maybe the most telling part of the Trez Capital story is that the company has over 30,000 individual investors and many of those investors (and indeed, many borrowers) have been investing with (and borrowing from) Trez Capital since 1997 – when the company first began. That tells me that Morley knows what being in a relationship-driven business is all about and that he and his team have developed an esteemed – and well-deserved reputation for trustworthiness.
When the pandemic was in full force, Trez Capital, led by Morley Greene, reached out to its investor base, calling them each week to keep them informed as to the current status of the company. Morley and his top brass also made sure that all key employees were informed as to what was transpiring, in accordance with the most rigorous standards of corporate transparency – further evidence of a corporation that places a premium on individual relationships.
At 81, Morley is still very active in Trez Capital, even though he has ascended to a more hands-off role as Chairman and Chief Executive Officer. When I spoke to him, he was busy in his Dallas office. He spoke very proudly of his three children: daughter Mara – now Madam Justice Mara Greene of the Ontario Court of Justice (and, in her spare time a hockey player); daughter Sara Greene, a professor at McMaster University in the Faculty of Social Work; and son Jonathan, an assistant professor in the Faculty of Political Studies at Trent University.
As I mentioned at the outset, Morley attributes his success to serendipity. I would suggest otherwise. In my view, Morley’s life work and in particular, his creation and building of Trez Capital is a testament to Morley Greene’s work ethic, tenacity and commitment to valuable relationships – trés outstanding and nothing less.
Features
Understanding the Differences Between the Three Roulette Classes
Roulette is one of those games that denotes the world of casinos most iconically with its spinning wheel and suspenseful moment when people wait for the ball to land on a number. Not all roulette, however, is the same. There are three classes of roulette: European, American, and French. They have rules and variations that somehow make them stand out and give extremely different gaming experiences. Let’s take a look at some of these differences and understand what makes each roulette class special.
The Classic Choice of the European Roulette
The typical character of European Roulette is the presence of a single zero, thus making it highly favorable among players due to a very low house advantage of 2.7% and, therefore, higher odds of winning. It offers a number of inside and outside bets that can suit different players’ appetites for risk. The reason the players like European Roulette is that it is easy to play, and the odds are quite even.
This game of roulette easily finds its place on most online websites in several variants, from differently themed games to different betting limits to accommodate any type of player. Be it a new starter or a seasoned gamer, European Roulette offers them all a slick and smooth experience with good graphics and interaction that they would want more of.
The Elegance and the Strategy of the French Roulette
French Roulette is often touted as the most sophisticated style of the game. It shares this with European Roulette, which also has a single zero wheel; however, the features are different, with the inclusion of various rules termed “La Partage” and “En Prison.” These rules create such a drastic reduction in the house edge down to as low as 1.35% on even-money bets that it affords the player a number of options for a gaming experience. French Roulette also boasts an assortment of table layouts and special bets that give the game a strategic edge, intriguing experienced players.
Spin Casino roulette games offer a sophisticated, classic European casino atmosphere in the version of French Roulette. The detailed tutorials and user-friendly interface mean that new players will take no time to learn the nuances of this great game, allowing everyone to enjoy the strategic depth of this variation.
The American Roulette, With High Stakes
Another successful variant is American Roulette, most especially in North American casinos. The key difference between American and European roulette lies in the addition of a double zero slot on the wheel. This adds to a 5.26% house edge, thereby giving it a moderate advantage over its European cousin. This also contains an extra layer of unpredictability and fun with the double zero and lures players who like higher stakes and a faster-moving pace of the game.
The realness of the experience means that American Roulette fans will get a true taste of Las Vegas-style casino action. From this brand, high-quality American Roulette games are available for players to try their luck with the double zero in immersive graphics and sound effects that bring the excitement of the casino right to your screen.
Try these roulette variations and enter a whole new world of casino gaming, where each spin holds a new chance at excitement and rewards. Be it for the first-timer or a seasoned player, roulette is a game in which the thrill keeps one sitting on the edge.
Features
Auschwitz Tours from Warsaw: Preserving Memory, Honoring History
Auschwitz is one of the most powerful symbols of the Holocaust and its lessons are as current as ever. As the world prepares for International Holocaust Day the need to remember and educate becomes even more urgent.
At Auschwitz Tours from Warsaw, our mission is to help you connect with this dark chapter in history. We offer guided tours to Auschwitz-Birkenau from Warsaw and Krakow so you can visit the largest Nazi concentration and extermination camp where over a million innocent lives were taken.
Why Auschwitz Tours from Warsaw?
A visit to Auschwitz is an emotional experience and we want you to get the most out of it. Our guides will walk you through the historical context, tell you stories of those who suffered, resisted, and in some cases survived. With respect and sensitivity, we will share the history that can’t be forgotten.
We offer full day tours from both Warsaw and Krakow so you can visit Auschwitz whether you’re coming from Poland’s capital or its cultural hub. Our tours include comfortable round trip transportation so you can focus on the experience without worrying about the logistics.
Extra Educational Content
Apart from the day trips, Auschwitz Tours from Warsaw also provides a lot of educational content about Auschwitz and the Holocaust. Our website is a resource for learning with articles and materials about Auschwitz’s history, World War II, and the long-term impact of the Holocaust.
For those who can’t visit in person, these materials are a window into this dark period of human history so the lessons of the Holocaust are available to everyone.
Honoring the Past on International Holocaust Remembrance Day
International Holocaust Remembrance Day on January 27th is a global moment of remembrance. It’s a day to remember the 6 million Jews and millions of others murdered by the Nazis during World War II.
It’s not just about the victims of the Nazi regime but about learning from history so we never repeat the mistakes.
January 27th is the anniversary of the liberation of Auschwitz-Birkenau in 1945, a day of unimaginable suffering but also of survival. The site itself is closed on this day for commemoration, but it’s a place of great importance for those who want to reflect on what happened here.
Although the gates are closed to visitors on January 26 and 27, it’s a day of personal reflection and remembrance for those who have passed away.
But on January 27th, a special area will be open for those who want to mark this solemn day on the grounds of the Memorial. This is a unique opportunity to reflect and remember in silence, on the very ground where so many lives were lost.
If you can’t visit Auschwitz today, International Holocaust Remembrance Day is still a chance to connect with the stories of survivors and victims. It’s a day to educate ourselves and others, not just about the past but about the present need to face hatred, intolerance, and anti-Semitism in all its forms.
If you’d like to learn more about our tours or explore our educational content, visit us at auschwitztoursfromwarsaw.com. Join us in remembering the past and keeping the message of “Never Again” alive.
Features
The Hurdles Facing Egyptian Intellectuals
By HENRY SREBRNIK In the twentieth century, many middle-class Egyptians adopted a cosmopolitan cultural style. They wanted to move the country toward a more liberal and secular state.
But they always came up against, and were unable to surmount, the strength of a very strong Islamic religious culture. In despair, some, despite their own preferences, ended up preferring autocracy to what they considered a backward and dangerous ideology.
In 1952, a revolution brought the Free Officers movement, led by Gamal Abdel Nasser, to power. It seemed to have brought a secular quasi-socialist regime to power.
But the undercurrents of politicized religion, though banned by Nasser, did not disappear. The Muslim Brotherhood, which had been founded in 1928 by Hassan al-Banna and preached a fundamentalist Islamism guarded exclusively by the sharia, was outlawed. Its most prominent theoretician, Sayyid Ibrahim Qutb, was executed in 1966.
But secular movements fell from favour following Egypt’s defeat by Israel in 1967, and the country was transformed into an autocracy following Nasser’s death three years later. From 1981 until 2011, Egypt was ruled with an iron hand by Hosni Mubarak, until popular unrest forced him to step down during the Arab Spring.
Would this herald a new, democratic chapter in Egypt? Would free elections bring about a rebirth of secular politics? The answer was no.
Mubarak’s ouster cleared the way for the Muslim Brotherhood to participate openly in Egyptian politics, and to that end the group formed the Freedom and Justice Party. In April 2012 the party selected Mohamed Morsi to be its candidate in Egypt’s presidential election. Morsi defeated Ahmed Shafiq, a former prime minister under Mubarak, that June.
Morsi soon issued an edict declaring that his authority as president would not be subject to judicial oversight until a permanent constitution came into effect. Although he defended the edict as a necessary measure to protect Egypt’s transition to democracy, mass demonstrations were held against what many saw as a seizure of dictatorial powers.
Worsening economic conditions, deteriorating public services, and a string of sectarian incidents, including attacks on the country’s Coptic Christian minority, strengthened opposition to Morsi’s rule. Clashes between Morsi’s supporters and critics in late June 2013 culminated in massive anti-Morsi protests around the country.
On July 3 the military under the head of the Egyptian Armed Forces, General Abdel Fattah al-Sisi, removed Morsi from power. A figurehead president, Adly Mansour, was installed, but it was clear that Sisi, who retained the title of defence minister, wielded power.
Sisi claimed that the military had carried out the will of the Egyptian people, as expressed in the anti-Morsi protests, and that the Islamist-dominated administration led by Morsi had put the Muslim Brotherhood’s interests before those of the country.
A month later the Egyptian police and armed forces committed what Human Rights Watch deemed “one of the world’s largest killings of demonstrators in a single day in recent history.”
Eleven years on, the murder of over 1,000 supporters of the deposed president, known as the Rabaa Massacre, has gone largely unpunished. The Muslim Brotherhood was formally outlawed that September and Morsi was jailed. Prison conditions were harsh, and he was denied adequate medical attention. He died in 2019.
Sisi officially left the military to run for president and was elected in a clearly fraudulent manner in May 2014. He has been re-elected twice since, in March 2018 and again in December 2023, when he was reported to have won with 89.6 per cent of the vote after several opposition figures were prevented from participating. Under his reign, Egypt has degenerated into a police state even more repressive than the 30-year dictatorship of Hosni Mubarak.
Caught between the proverbial rock and a hard place, Egypt’s pro-democracy and civil society movements jettisoned their long-standing commitments to human rights and the rule of law and enthusiastically supported the return of military rule.
One of those civil society leaders, Saad Eddin Ibrahim, was among Egypt’s most influential intellectual figures. He had spent his career insisting that democracy is the solution both to political authoritarianism and to the allures of religious fundamentalism in the Arab world.
Pushing back against the prevailing view that Islamist groups must be marginalized, he argued that they should be included in the democratic process. He even went so far as to advocate, in an article titled “Toward Muslim Democracies,” that “it will be better for us as democrats, for the Islamists, and for Egypt to enlist Islamists under the flag of democracy.”
He encouraged Egyptians to support this vision and put aside common fears about Islamist movements and had been arrested for his views under Mubarak. Yet even he abruptly became an apologist for authoritarian rule.
The “problem” was that the bulk of the Egyptian masses were unwilling to part with their religious traditions or wholly consign them to the realm of the private. Put another way, if most Egyptians were given the choice between being liberal or being Muslim, they would overwhelmingly select the latter.
Faced with that reality, these intellectuals forged authoritarian alliances to forcibly impose their worldview on an otherwise unwilling populace. When Morsi and the Muslim Brotherhood were in actual control of the state rather than at its fringes, the liberal secularists chose authoritarian rule. This is the same tragedy found in most of the Arab world.
Henry Srebrnik is a professor of political science at the University of Prince Edward Island.
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