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3 trick would cost a lot of energy as mistakes are made and that would not be fair to Kipps employees. At the same time most of our minority partners in that investment were looking to crystalize the value from their investment as they looked toward retirement. As a result we were able to take part in the once in a lifetime experience of selling a top performing company to a sophisticated purchaser that can make the investment in the business necessary to push Kipp to an even higher level of performance. Literally everyone was a winner from this deal. Meanwhile in 2014 we had to deal with the regularities of ownership in other operating companies including the issues of non-performance.We started the year with PIC Investment Group Inc. experiencing a cash crunch from our 2013 year of intensive investment in long-term payback opportunities. We faced scrutiny regarding our cash flow management and our investment decisions which I had to answer for. So we cleaned house.We sold unencumbered assets not required for operating company health.We sold or got out of positions that were a distraction to people not worth the effort. This created capacity for people to make money on good opportunities. We looked at what we were doing in various operations and made some tough decisions. In that context G Mechanical had to face the fact that it was not meeting performance expectations in the construction industry. We made the decision and took the action to wind-up our construction effort and focus only on our service business with a precious few customers. This was not easy or fun. I have a huge respect for the effected employees at G Mechanical who all handled the situation with understanding and professionalism. Similarly ADI faced its operational realities and decided to close the store and close Thompsons Resort for the winter instead of continuing year-round operation. ADI will fire up a new operational model in 2015. At PIC we moved our office location and that will cause a new operational model as we settle into a new facility which finally reflects the company PIC Investment Group has turned into in the past few years. The team is under one roof with structured meeting space and separate social space so we can interact spontaneously as often as formally. Thats important because we share so much of our work load with each other in the oversight of our investments. We exercise our ownership in companies investments through a Board Governance approach which provides experience and insight to the company leader from a group of directors who have competencies that match the needs of the organisation. We added Phyllis Salisbury to the team of Portfolio Managers in order to bring bench strength on the finance side and create much needed capacity in order to be more pro-active in our pursuit of lucrative opportunities. Phyllis Laurie Craig Hugh and I will each assist the individual companies that we are responsible for by planning for their future decades of growth using our experience expertise and network.We will look for the next operating company for the PIC Group to purchase and that company will be a customer of a supplier to or be in the exact same industry as current PIC Group operating companies.We will be thoughtful. By doing these things PIC Investment Group Inc. can make a contribution to the entire group. The leaders of each company that PIC invests in can write their own story for their company and grow their business with their team. Each PIC Group company knows that we are looking out for the long-term interest and long-term health of the company. We all succeed together. Greg Yuel