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
What Does The Future of Online Betting Look Like For Canadians?
There have been plenty of positive developments recently in how Canadians can place bets online. A major boost to the Canadian online gambling industry came when Ontario opened its doors to private companies. What further changes lie ahead in the future?
The expansion in Ontario has produced massive revenues for the Canadian gambling industry. Allowing private companies to operate in the province has given gamblers far more choice and they have been flocking to the new sites now available. Great news of course for gamblers and betting companies but also for the taxman. As has been seen in the USA, making gambling legal (especially on sport) has brought in billions of dollars of tax revenue. Canada is now also reaping the benefits and will continue to do so in the future.
The industry was also changed when in 2021 it finally became possible to place single-event bets on sport. Until then it had to be parlays or as they’re also known, accumulators. Both of these changes have seen a great improvement in the online Canadian gambling industry. 2024 has already been a profitable year for the online betting industry in Canada. The first quarter of the 2024-2025 fiscal year certainly illustrated that. The total amount wagered was $18.4 billion and that was 31% higher than the results for the same period in the previous fiscal year.
Revenue in Ontario for the period April 1 to June 30 was $726 million. That’s from the 50 operators who have 80 gaming sites in the province. The total is 34% higher than in the same period in 2023 and 5.2% higher than the previous quarter. With the expansion in Ontario being so successful, the question now is whether other provinces will follow suit. It seems that opening up their gambling industry to private operators may well be the way forward. However, it is recognised that if this is to happen, it must be done safely. Wherever there is legal online betting, it seems that regulation is not too far away. It’s accepted that there is the need for some regulation. Protecting players is vital and with companies required to be licensed, this helps control them. Those who bet at unlicensed sites do not have anywhere near the same level of customer protection and are at risk of online fraud.
There have already been signs of increased regulation of the Canadian online betting industry. How gambling is advertised is always a thorny subject whatever the country. This year has seen the use of celebrities or sports stars in gambling related advertisements prohibited. A key reason for this is to protect youngsters who may be attracted to the industry. Studies have shown that youngsters can identify gambling brands more than they do those for tobacco or alcohol.
It’s also likely that there will be more betting on esports in the future. There has been an increase in the amount of coverage given to them by online betting sites. This was particularly seen during the COVID-19 pandemic when many sports events were canceled. Esports continued and sites such as PowerPlay began to give them increased levels of coverage and will continue to do so.
Technology plays an important role in the gambling industry. Those who love to go online and place bets will see technology producing even more changes in the future.
Banking is an important element of online betting. Improvements in technology in this area have made it far easier to place bets online. Improved encrypting of data and more use of cryptocurrencies also makes it safer when it comes to online financial transactions. Again, this will attract even more gamblers to the industry.
As for the games that are played, particularly when it comes to online casinos, huge strides are taking place. Virtual Reality (VR) and Augmented Reality (AR) are the way ahead, so expect to see more Canadian gamblers wearing VR headsets as time goes by.
The graphics seen in games are already staggering but they will get even better in the future. Putting on your VR headset will see players transported into other worlds and even forwards or backwards in time. Those who love to play at live casinos will be in for a treat. Using their headset, it can appear they are playing at one of the most famous casinos in the world, rather than on their settee.
AI is loved by many but hated by some. It will also have a huge influence on the Canadian online betting industry in the future. This won’t just be in creating games but also be used to deal with customers. AI has the ability to gauge the behavior of gamblers and identify if there is a possible need to help them if spending too much or betting for too long.
Mobile phone technology continues to make advancements. Rather than just playing on your laptop at home, many players download apps and try their luck on their mobile devices. Further advancements are fully expected in the future.
The future of online betting in Canada does look a rosy one. The amount earned by betting companies is expected to increase and that will be good news for those who receive tax revenue. Players will likely have more sites to bet on if other provinces follow in the footsteps of Ontario. The games that will be available will be even more thrilling to play and becoming a member of a site will be safer.
Features
New book chronicles what were arguably the most important – and controversial Olympic Games in history
Review by BERNIE BELLAN With the 33rd Summer Olympics set to take place in Paris from July 26 to August 11, I thought it an opportune time to tell readers about a book that was released earlier this year and which provides a sweeping view of what were arguably the most controversial Olympic Games ever held – the 1936 Summer Olympics in Berlin, Germany.
Written by two writers, Glenn Allen and Richard Kaufman, who have spent most of their careers writing and producing films, PLAYED: The Games of the 1936 Berlin Olympics combines fiction and non-fiction in a thrilling, yet somewhat confusing manner.
Although Jewish readers are likely to find themselves focused on the rampant antisemitism that pervaded the games – given the determination of Hitler to use the Olympic Games as a masterful propaganda tool, this book is sure to appeal both to fans of the Olympic Games and students of history.
There are many heroes mentioned throughout “PLAYED,” including such well known names as Jesse Owens, who embarrassed Hitler to no end by winning what was then a record four Gold medals in various track events. But there were many other heroes as well, especially Alan Gould, who was the Associated Press Sports Editor, and who wrote many columns calling for a boycott of the games; and William Dodd, the US Ambassador to Germany from 1932-1937, who was warning of the dangers posed by the Nazi threat long before it became all too apparent to politicians, including President Franklin Roosevelt – who adopts quite a sanguine attitude toward the Nazi threat in this book.
And then there are the villains, chief among whom was the despicable Avery Brundage, President of the American Olympic Committee, who was determined to be appointed to the International Olympic Committee (of which he was later to become its president, from 1952-72). It is no coincidence that it was Brundage who was not only the key figure in overcoming resistance to the notion of the US boycotting the 1936 games, it was Brundage who was also central to the 1972 Munich Olympics carrying on even after the massacre of 11 Israeli athletes.
I admit that I knew quite a bit about Brundage’s unsavoury reputation even before reading this book, but the degree to which he connived to make sure America would be represented at the games when there was fierce opposition to exactly that position from many of the leading figures in the sports world in the US at the time is truly shocking.
But, while the historical record provides ample evidence of the extent to which Hitler and his henchmen were determined to use the Olympics as a showcase for Nazi superiority, while reading this book I couldn’t help but wonder just how much fiction was mixed with fact.
In the press release I was sent about the book, it was noted that “Based on real stories and real people involved in the 1936 Berlin Olympics, PLAYED plunges readers into a compelling, fictionalized account of the insanity and hysteria that unfolded across Germany, the United States and in much of the world from 1931 through 1936.”
I couldn’t help myself from questioning: Just how much is fact and how much is fiction in this book? Of course, given that the authors use their imaginations to conjure up the dialogue in the book, I kept thinking to myself – especially as I was reading about how sexually aggressive many of the female characters in this book were: Is this a case of two screenwriters using their past experiences writing movie scripts as an excuse to infuse something that might be passed off as a largely historical account with a great big dollop of licentiousness in order to attract readers?
Two of the major female characters: Martha Dodd, daughter of US Ambassador Dodd, and Eleanor Holm, a champion US swimmer, certainly led carefree sex lives – at least if you were to believe the accounts given in this book. Dodd, in particular, is such a fascinating character, because not only was she quite willing to go to bed with many Nazis (and it seemed – anyone who asked her), including Ernst “Putzi” Hanfstatengel, described as Hitler’s henchman – who would eagerly dispatch anyone Hitler wanted rid of, in time Martha Dodd ended up in the arms of a Russian spy – who himself was ordered executed by Stalin.
As for Holm, even though she was a champion in the swimming pool (in backstroke events), she hardly led a disciplined life as an athlete. In PLAYED, at least, she is one hell of a “player” – and this was well after she was married!
Unfortunately for Holm, however, one man who lusted after her – and whom she detested, was Avery Brundage. Now, I did try to find out whether the account given by Kaufman and Allen of what happened between Holm and Brundage when they were both on the same ship headed to the Berlin Olympics with the entire American team of athletes and officials, was in any way true. (In the book, Brundage attempts to rape Holm, but given her athleticism, she manages to deliver a solid kick to his nether regions – leaving him writhing in pain. The next day, he decides to kick her off the US Olympic team.) According to Holm’s own account, however, the reasons for her being booted off the team had to do with her not wanting to go to bed when she was told to do so. (I much prefer the PLAYED version – and if they ever make a movie from the book, I’m sure audiences would be much more interested in watching Holm do to Avery Brundage what a lot of women would probably fantasize about doing to men.)
Of course, the parts of the book describing some of the leading Nazis, including Hitler himself, along with Joseph Goebbels and Herman Goering, are luridly detailed – as one would expect any description of them to be, but one character who comes off quite favourably – much to my shock, is Leni Riefenstahl, the famed German filmmaker, who had already established a notorious reputation as a propagandist in her famous documentary about the 1934 Nuremburg Rally, “Triump of the Will.”
Rather than painting her as a tool of the Nazis though, the authors offer quite a sympathetic – even admiring portrait of someone who was wedded to her craft. According to this book, Riefenstahl actually fell in love with a member of the US Olympic team by the name of Glenn Morris, who goes on to win Gold in the decathlon competition. (Again, however, there is one unforgettable scene where Morris, after winning his medal, runs over to Riefenstahl, rips off her blouse, and kisses her breast. Is this a Hollywood screenwriter’s fantasy? Who knows?)
There are also many stories of Jewish athletes in this book – some of which are tragic. The female high jump champion in Germany at the time was someone by the name of Gretel Bergmann. Bergmann had gone to England prior to the Olympics knowing full well that she would not be allowed to compete for Nazi Germany. In the book, Putzi goes over to England and threatens Bergmann that she will have to return to compete for Germany, otherwise her family – who had still remained in Germany, will face severe consequences. When Bergmann reluctantly returns to Germany, Brundage points to her becoming part of the German Olympic team as a sign that the Nazis have softened their stance toward Jews, but once the American do agree to participate and cross the ocean to Germany, Bergmann develops a mysterious “injury” that prevents her from actually being part of the German team.
The book is full of such stories – so many, in fact, that your head will be spinning trying to keep track of all the characters mentioned in the book.
Still, if you want to enjoy a rollicking read that may or may not have many parts that are wholly concocted from the writers’ imaginations even though they’re writing about actual events, then you might want to give PLAYED a shot.
As for this year’s version of the Olympics, while there isn’t nearly the same dramatic tension surrounding them as there was prior to and during the 1936 Berlin Olympics, the cheating, skullduggery, and propaganda that permeated the 1936 games has forever tarnished the reputation of the Olympic Games and, while it’s a different type of antisemitism that we’re seeing on the world stage these days, we’re all holding our collective breaths wondering how Israeli athletes are going to be treated in Paris – the same way Jews were wondering how Jewish athletes were going to be treated in Nazi Germany in 1936.
PLAYED: The Games of the 1936 Berlin Olympics
Published 2024 by WordServe Publishing
419 pages
Features
Canada’s favorite online casino games
The people of Canada sure love to play casino games. Gaming and placing bets is a popular pastime in the country with 76 percent reporting that they have participated in at least one form of gambling within the last year. In recent years, the online industry has seen a significant boost as players look to play at the best Canadian online casinos as more provinces look to remove prohibitive legislation.
We take a deep dive into the current legal situation for both online and offline casino gaming in the country, in addition to which casino games are the most popular and what there is to love about them, as well as what the future of the Canada’s online casino landscape could look like.
Both online and offline casino gaming is popular. When playing games online, players look for convenience, security and a good variety in bet and game choices. When going to a land-based gambling venue, they look for a comprehensive entertainment experience, they expect a trip to a casino to be an exciting day out.
The laws in Canada are complex in regards to what types of gambling are legalized and how it is regulated.
The lowdown on gambling laws in Canada – online and offline
Under federal law in Canada, technically the provision of all gambling related services is prohibited. However, exceptions are applied when it is regulated at a local or provincial level.
Each province has the responsibility of regulating and creating laws that concern all types of gambling within them. If they chose to do so then they can provide licenses, manage revenue distribution and set their own age restrictions. Most provinces in Canada have now legalized gambling in some form, with some areas having a more prohibitive approach than others.
For example, Ontario is probably the least restrictive and there are a number of land based casinos venues here open to residents and tourists. Also, there has been a recent introduction of iGaming in the province too.
There are now more provinces looking to follow in Ontario’s footsteps with Alberta looking at taking a less restrictive stance. Currently, charities and religious organizations are allowed to register as gambling providers. There is also an online gambling site based in Alberta that is regulated.
In Canada, the Criminal Code does not actually make specific reference to online gambling activity, which has left it open somewhat to interpretation. The federal government itself has not created any laws specific to online casinos, some provinces are now establishing their own regulations. Also, online casinos and other gambling sites that are operated outside of the country are accessible to people within Canada.
There are a few casino games that are particularly popular in Canada
Slots
From electronic machines to table games, Canadian’s love all types of casino activities. Slots and online slots are one of the top games enjoyed in the country. One reason that people love slots is due to their simplicity, there are no complex rules to get to grips with.
Online games and offline slots are very similar, however online games tend to have more special features and bonus rounds. You might also find that the minimum bet amounts are lower. Slots come in all kinds of themes, from movie themed games to those inspired by ancient Egypt and the pharaohs, there are thousands to choose from online.
Poker
Another well-loved casino game in Canada is poker, a game that has been around for hundreds of years and can also be played online. Poker is a bit more complex and requires patience in order to develop the necessary skills and strategy to be confident when playing the game.
Texas Hold’em is the most common variant of the game in this region, although three card poker, omaha and seven card stud are just some examples of the other types of poker enjoyed here.
Roulette
Roulette is also a top game for Canadian casino enthusiasts. The three main variants are American, European and French, with the American roulette game being the most widely recognized across Canada. Each variation has a slightly different format and house edge as well as different betting options.
Blackjack
Blackjack, also known here as 21, is a top card game. The player is playing against the dealer and to win they must try to get to 21, or as close as possible, before the dealer does.
The future of online casinos in Canada
As casino related legalization across Canada becomes less restrictive and more online operators set up in the region, we can expect this industry to flourish in the years ahead. Player numbers are likely to continue to grow and new technologies like AI will further improve and personalize the experiences users have on gaming sites.
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