FACILITYCalgary is a compilation of news items & commentary of interest to people who have a real estate, infrastructure, construction, oil & gas or general interest in Calgary published weekly by MaxComm Communications.
FRESH TODAY - Monday, April 28, 2008
+ ABCP (asset backed commercial paper) resolution hangs in the balance this week as Ontario Supreme Court Judge Colin Campbell weighs investor votes (96% in favor) for the $32 billion restructuring against the rights of investors to sue those who sold them the investments . . stay tuned for his decision this week
+ crude oil prices @7:00AM, MDT as quoted by bloomberg.com :
Nymex Crude Future US$119.02/barrel
Dated Brent Spot US$116.59/barrel
WTI Cushing Spot US$119.70(Friday's close)/barrel
oil prices spiked on news of a Scottish Grangemouth refinery strike, BP shutting down its Forties pipeline, violence in Nigeria & Mexican privatization protests unsettled oil markets, raising supply concerns pushing oil to new highs & expectation price will cross US$120/barrel mark today or tomorrow
.
+ North Sea producers curtailing production due to Forties pipeline shutdown & Grangemouth refinery strike
+ on this date in 1967, Expo 67 opened in Montreal
+ Talisman Energy Inc. sub. sold non-core Denmark assets for US$82 million
+ Toronto's transit system running again after surprise strike & Sunday sitting by Ontario's legislature forced an end to the walkout
+ Total E&P Canada Ltd. & Synenco Energy Inc. agreed to merge; Total will make a $9-per-share offer for Synenco - both companies have approved the deal valued at $478 million
+ winner of the EDS Byron Nelson Championship at the TPC Four Seasons Resort , Irving, Texas was Adam Scott, in a playoff win over Ryan Moore; first prize was US$1,152,000
+ Alberta Carbon Capture and Storage Development Council established by the Alberta government
+ Alberta throne speech & budget focused attention on climate change & water issues without specific initiatives, spoke to a comprehensive (though vague on details) 3 year business plan to broaden the economy & fund infrastructure with band-aid funding solutions for every social ill while throwing cash at crime prevention & development of a comprehensive energy plan
+ Celtic Exploration Ltd. closed $43.1 million equity financing
+ Empire Company Limited & Sobey Leased Properties Limited sold 61 retail properties to Crombie REIT for $428.5 million
+ Grey Wolf Inc. & Basic Energy Services Inc, agreed to merger; will operate as Greywolf
+ new area code June 23; Alberta will add 587 as a new area code; no change for 403 or 780 users however 10 digit dialing (including the area code) will be required
+ OMNI Energy Services Corp. closed US$90 million credit facility
+ Particle Drilling Technologies Inc. closed US$5,250,000 equity financing
+ Spectra Energy unitholders voted in favor of going private transaction that involves acquisition of all the outstanding units of the Fund by Westcoast Energy Inc.
+ Texas Gas & Oil Inc. closed $1,125,000 equity financing
+ The Bank of Canada lowered its target for the overnight rate by 1/2% tp 3%; he operating band for the overnight rate is correspondingly lowered & the Bank Rate is now 3.25%
+ U.S. & European recession watch: National City Corporation raised US$7 billion in new equity to shore up its balance sheet from subprime losses; Bank of America Corporation raised US$4 billion in new equity to shore up capital in wake of losses; Credit Suisse Group wrote down US$5.3 billion in soured investments; Royal Bank of Scotland Group to cut 7,000 jobs (25%) of its investment banking force following the acquisition of ABN Amro Holding NV's securities unit & credit market losses
+ WAM Development Group & AIMco. announced the launch of StoneGate Landing, a new retail, office, industrial and hospitality development in NE Calgary - 1,100 acres will feature 3 components: StoneGate Industrial, StoneGate Corporate Centre & StoneGate Common - a $3 billion development to be completed by 2016
+ Ernest Licursi to VP, Mortgage Investments @ KingSett Capital
+ Grant Petroff to Client Executive @ BFL Canada Inc.
+ Joanne Alexander to VP & General Counsel @ Precision Drilling Corporation
+ Lance Vogelsang to VP Sales, Western Hemisphere @ IDM Group
+ Larry Ness to VP Engineering @ Petro-Reef Resources Ltd.
+ Malcolm Lovett Jr. to Chief Restructuring Officer @ Superior Offshore International Inc.
+ Philip Noble to CEO @ Grant Thornton LLP
+ Richard Hughes to CFO @ Garneau Inc.
+ Robert Fernandez to Sr. Advisor Process & Negotiation, Alternative Capital Financing Office @ Alberta Treasury Board
+ Scott Reasoner to VP Operations @ Petroleum Development Corporation
+ Steve Spence to VP, Projects @ OSUM Oil Sands Corp,
+ Terry Kirstiuk to Director of Preconstruction Services @ Chandos Construction Ltd.
+ Wayne O'Connor to COO @ Emera Energy Services
SAVE THE DATE:
Business Events, Functions etc.
Apr. 29; 14th Annual Vancouver Real Estate Forum; Hyatt Regency Hotel, Vancouver, info/registration: http://www.mmpiwest.com/realestateforumsw est/vanc ouver/
Apr. 29-30; Buildex Edmonton; Shaw Conference Center, Edmonton, info/registration: http://www.buildexedmonton.com/
May 3; Safe Haven Foundation - Street of Dreams Gala, Calgary Hyatt Regency Hotel; info/tickets/sponsorship: sara@safehavenfoundation.ca
May 8; Turning Points Non-Gala Dinner, The Westin, Calgary, in aid of the Calgary Women's Emergency Shelter; info/tickets: http://www.calgarywomensshelter.com
May 27; The Land & Development Conference, Metro Toronto Convention Centre, South Bldg, Toronto'; info/registration: http://www.realestateforums.com/LandConference/ind ex.html
June 10 - 12; Global Petroleum Show, Stampede Park, Calgary, info/register: http://www.petroleumshow.com/globalpetroleum/page. cfm/Link=12/t=m/goSection=8
July 7-9 ; 34th G8 Summit, Tokyo, Japan
SAVE THE DATE:
Annual & Special Meetings
April 28; Canadian Oil Sands Trust, Annual & Special Meeting of Unitholders, Calgary
April 29;
Calgary Chamber of Commerce , Annual General Meeting, Calgary
Empire Life Insurance Company, Annual Meeting of Shareholders & Policyholders, Toronto
OPTI Canada Inc. Annual General Meeting, Calgary
Petro Canada Annual General Meeting of Shareholders, Calgary
April 30; Emera Incorporated, Annual General Meeting, Halifax
May 1;
Imperial Oil Limited, Annual Meeting of Shareholders, Calgary
Great West Life, London Life, Canada Life, Crown Life, Annual Meeting of Shareholders and Policyholders, Winnipeg
Great West Life, Annual Meeting of Shareholders and Policyholders, Winnipeg
May 5
Enbridge Income Fund, Annual Meeting of Unitholders, Calgary
W&T Offshore, Inc. , Annual Meeting of Shareholders, Houston
Enerplus Resources Fund, Annual General and Special Meeting , Calgary
The Manufacturers Life Insurance Company, Annual Meeting of Policyholders and Shareholders, Toronto
May 9; Dominion Resources Inc., Annual Meeting, Chicago, Illinois
May 10; Enbridge Inc.Annual and Special Meeting of Shareholders, Calgary
May 14; TerraVest Income Fund , Annual General Meeting of Shareholders, Toronto
May 22; First Capital Realty Inc., Annual General Meeting, Toronto
May 30; Patch International Inc., Special Meeting of Stockholders, Calgary
June 26; CanArgo Energy Corporation, Annual Meeting of Stockholders, New York
SAVE THE DATE:
2008 Charity & Industry Golf Tournaments
May 29, The 15th Annual "IFMA OPEN" , IFMA Calgary Chapter , Calgary Elks Lodge & Golf Club, info/register: info@ifmacalgary.org
May 29-30, 9th Annual AMBA/MLAA Spring Golf Classic, Mortgage Loans Association of Alberta (Edmonton Chapter) & the Alberta Mortgage Brokers' Assn., Industry Night and Golf Tournament; proceeds to Habitat for Humanity, The Links, Spruce Grove; info/registration: james.robertson@firstnational.ca
June 9; Global Petroleum Show Charity Golf Tournament in support of the Werklund Foundation; Valley Ridge Golf Course, Calgary; info/register: http://www.petroleumshow.com/globalpetroleum/page. cfm/Link=39/t=m/goSection=22
June 12; 6th Annual Coast Hotels & Resorts Golf Classic , Westwood Plateau Golf & Country Club, Coquitlam, BC; in support of Coast Athletic Assistance Program; info/register: m.hope@coasthotels.com
July 2; 6th Annual Calgary Chamber of Commerce/TELUS Play with the Presidents Golf Classic, Heritage Pointe Golf Club, DeWinton; sponsorships still available. Contact Ron Peters at 750-0400 or rpeters@calgarychamber.com
July 14; 8th Annual Ronald McDonald House Southern Alberta Charity Golf Classic, Silvertip Resort, Canmore; Lawson Projects is the Presenting Sponsor; info/registration: lorne@lawsonprojects.com or colleen@rmhsouthernalberta.org
August 15; University of Lethbridge Alumni Association - Calgary Chapter 7th Annual Alumni & Friends Golf Tournament, Shaw-nee Slopes, Calgary; info/registration: kfilbert@shaw.ca
note: if you are sponsoring / supporting a charity tournament in the Calgary area in 2008 we are happy to list them early here; just send your tournament data and contact information to: research@maxcomm.ca
INFRASTRUCTURE News / P3 / Go Green
+ PLANDFLEX CORPORATION will develop and or acquire commercial and institutional properties: Public Private Partnerships (P3), development for governments, NGOs, school boards, hospital boards, municipalities etc., build-to-suit developments for strong credit tenants location focus is smaller & major communities in Western Canada. Inquiries and/or property offerings to:
PLANDFLEX CORPORATION
Attn: Mark Kolke, President
Suite 1000, 888 - 3rd Street SW
Calgary, AB T2P 5C5
Phone: 403-444-6939
e-mail: mark.kolke@maxcomm.ca
+ the Portrait Gallery of Canada competition continues with Alberta having a stronger case as Culture Minister Brackett confirmed the Alberta government will contribute $40 million if Edmonton or Calgary is the choice. Bidding closes May 16 for the new museum, planned to open in 2012 . . . stay tuned
+ Alberta's Provincial Energy Strategy, to be completed later this year, will be reviewed by an expert panel ) Chaired by Harve Andre) to examine how nuclear power fits; meanwhile TransCanada Corporation's Hal Kvisle hinted the better location for nuclear might be in Saskatchewan, closer to fuel sources & key power grid connections than the Peace River area site currently under consideration by Bruce Power . .stay tuned
+ in its 2008 budget, the Alberta government says it will fund infrastructure via a 2008-11 Capital Plan for $22.2 billion for municipalities, housing, hospitals, schools & roads: $3.3 billion for health facilities & equipment, $1.7 billion for schools, $1.5 billion for post-secondary facilities, $5.2 billion for provincial highways, $5 billion for municipalities & $1.1 billion for housing
Calgary Office Space For Lease
office leasing services
for leasing/purchasing assistance, contact: Mark Kolke
email: mark.kolke@office-space- calgary.com
http://office-space-calgary.com
NEW DOWNTOWN COER OPPORTUNITY:
Office Suite, 30th Floor Petro-Canada West Tower
1,400 sq. ft. o space, fully contained & furnished suite within a business centre
3 window offices & 2 open-plan areas
available June 1
e-mail for further details: mark.kolke@office-space- calgary.com
NEW BELTLINE OPPORTUNITY:
sublease space in the Beltline, 340-12 Avenue SW
1662 sq. ft., 4 Private offices, board room; great suite
available May 1
sublease term to August 30, 2011
'market sublease rate'
e-mail for further details: mark.kolke@office-space- calgary.com
Mark Kolke lists properties For Judicial Sale on behalf of lenders engaged in foreclosure actions to realize on security for recovery of defaulted mortgage loans. He operates this website to aid in the marketing of these properties and to host the listings of other agents marketing properties offered by way of Judicial Sale
"If a man isn't willing to take some risk for his opinions, either his opinions are no good or he's no good." - Ezra Pound
"We shall not cease from exploration and the end of all our exploring will be to arrive where we started... and know the place for the first time." - T.S. Eliot
"Man cannot discover new oceans unless he has the courage to lose sight of the shore." - Andre Gide
"Often the difference between a successful person and a failure is not one has better abilities or ideas, but the courage that one has to bet on one's ideas, to take a calculated risk - and to act." - Andre Malraux
"It's not because things are difficult that we dare not venture. It's because we dare not venture that they are difficult." - Seneca
"People who don't take risks generally make about two big mistakes a year. People who do take risks generally make about two big mistakes a year." - Peter Drucker
"Untried is not the same as untrue. Leaping off the precipice is no riskier than sitting at the bus stop on a day the buses don't run. Waiting for a journey that will never start is like talking about one without serious intent - each will fail to lead anywhere pleasant. With butterfly on my shoulder, how can I expect that to continue unless there is venturing, adventuring and freedom to explore the unexplored." - Mark Kolke
"Walking beaches, our footprints of any depth quickly vanish in the surf of life, as if we were never there - but then, in a way, we've left no scar or evidence of being there if we tread gently on the earth." - Mark Kolke
"If you call on God to improve the results of a shot while it is still in motion, you are using "an outside agency" and subject to appropriate penalties under the rules of golf. " - Henry Longhurst
"Golf without mistakes is like watching haircuts. A dinner without wine. " - Jim Murray
"Golf can best be defined as an endless series of tragedies obscured by the occasional miracle. " - author unknown
"Water creates a neurosis in golfers. The very thought of this harmless fluid robs them of their normal powers of rational thought, turns their legs to jelly and produces a palsy of the upper limbs." - Peter Dobereiner
Innovative strategies, inspiring work plans and cutting- edge initiatives; we are writers, editors and business communicators who help you frame your message right the first time, on time.
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Mark Kolke writes a daily column (posted at http://markmusing.com ) Musings, after his morning walk. To subscribe (free) to receive his daily musings, write to mark@markmusing.com
+ our objective is to feature information and links to articles which provide insights, ideas and services to help our readers access useful resources to help employees at all levels build on their skills.
+ the Toastmasters program offers an opportunity to improve professional skills; public speaking, leadership training, confidence building - a great way to give your career a boost as you climb the ladder. Toastmasters International - 210,000 members in 90 countries; 65 Toastmasters clubs in Calgary. Toastmasters offer a supportive environment, networking opportunities & a proven program to help people overcome their worst fear - public speaking.
+ Singles and Friends Toastmasters, offers a 'singles only' format - opportunity for socializing & speaking; meets every Wed. @ 7 PM. Info: http://singlesnfriends.freetoasthost.info next meeting April 30
+ MVP Advanced Toastmasters Club, meets @ 7 PM, 2nd & 4th Thursday of the month @ Fluor facility in south Calgary; a club for experienced Toastmasters wishing to hone their skills in a place where the bar is set high; contact club President for further info: Mark.Kolke@frameyourmessage.com or Gerda.Timm@Fluor.com .. next meeting May 8, 7PM http://mvpadvanced.freetoasthost.net
FACILITYCalgary, a MaxComm Communications publication, e-published every Monday. Subscription is free. To subscribe, write to: facilitycalgary@maxcomm.ca
+ CIBC economist Jeff Rubin has us abuzz again with the debate over whether he is crazy or clairvoyant or both; this time he is predicting oil to reach US$225/barrel by 2012 - a scary number to be sure, his prediction based on escalating consumption worldwide . .
+ the Alberta throne speech & budget pleased me because it sounds like the big legislative push that marked Ed Stelmach's early days is easing in favor of a slower paced approach to change & rhetoric, but the increase in spending & long term capital projects should scare us all - there is no doubt our oil & gas will remain plentiful for a good while yet with commodity prices filling coffers, but the spending needs to slow, saving needs to resume & operating like these good times will go on forever should be tempered with what is going on in the rest of the country, the rest of the continent & the entire world - economies, food supplies, Middle East oil-politics & the insatiable Chinese appetite are NOT the same problem- complex one finds around the feed store stove in Andrew . .
+ in closing, I ask readers this question: 'What would you like to see changed, deleted or added to FACILITYCalgary to make it more effective, relevant & useful to you?' . . your responses are encouraged as we try to keep this publication (9.5 yrs. & still going strong!) fresh, dynamic & representative of its readership . .
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