FACILITYCalgary, a compilation of news items & commentary of interest to people who have a real estate, infrastructure, construction, oil & gas or general interest in Calgary, brought to you weekly by MaxComm Communications, keeping you up to date on issues affecting 'business in Calgary'.
FRESH TODAY - Monday, February 11, 2008
+ crude futures @ 6:30AM, MST as quoted by Bloomberg.com - Nymex Crude Future US$91.97/barrel, Dated Brent Spot US$91.81/barrel, WTI Cushing Spot US$91.77(Friday's close)/barrel; while OPEC is attempting to speed up plans to bring more oil production to market due to rapidly rising demand from China & India; after an early in the week slide, on pervasive fears of declining demand, although production shutdowns in Nigeria & North Sea fueled spiking prices by last week's end; today Venezuelan president Hugo Chavez's threat to cut crude supply to the US following Exxon's lawsuit that froze US$12 billion in Venezuelan assets has kept markets up, but steady
+ Daniel Nestor & Frederic Niemeyer won their doubles match in straight sets on Saturday over Bruno Echagaray & Santiago Gonzalez of Mexico to cinch a win for Canada in Davis cup play in Calgary after Niemeyer & Peter Polansky swept their singles matches on Friday Night; Canada is now 5-0 in Davis Cup qualifying ties played at the Corral - congratulations & go Canada!
+ Royal Dutch Sell PLC agreed to sell its interest in Australia's North West Shelf venture to Woodside Petroleum Ltd. for US$398.5 million
+ Societe Generale SA, France's second-biggest bank, raising US$8 billion in new equity financing at 39% discount to last week's stock price to replenish capital after the worst trading loss in banking history
+ Steve Lowery clinched his first PGA Tour title in eight years by edging out 2004 champion Vijay Singh in a playoff for the AT&T Pebble Beach National Pro- Am to win US$1.08 million; played at the Pebble Beach Golf Links, Pebble Beach, California
+ Blackrock Inc. to oversee administration of frozen Canadian Asset Backed Commercial Paper; workout ($30 billion of assets/debt) involves consortia of banks to provide a $14 billion back up line of credit ; Coventree shut out & will likely wind up operations
+ Daryl Katz acquired 100% of the Edmonton Oilers for $200 million
+ Enbridge Inc. to lead a group of 19 energy industry participants in the Alberta Saline Aquifer Project (ASAP), a 3 phase long term sequestration of carbon dioxide in deep saline aquifers
+ Fortis Merchant Banking closed US$280 million debt financing
+ HSBC is likely suitor for SocGen who must raise US$ 8 billion in new capital in wake of US$7.2 billion rogue trading loses
+ Husky Energy Inc. is expanding its oilsands position, buying a 44,000-hectare+ parcel from Devon Energy Corp.for $105 million,; the McMullen property, adjacent to leases Husky already holds
+ Premier Ed Stelmach called a Provincial Election; Albertans go the polls March 3rd
+ SNC-Lavalin acquired Groupe Techmat
+ TransGlobe Energy Corporation closed its acquisition of GHP Exploration (West Gharib) Ltd.
+ US recession/credit watch: GMAC LLC reported a US$724-million 4th qtr. loss, down from a US$1- billion profit a year ago; Standard & Poor's, under fire over how it rated complex debt that sunk in value, announced 27 separate actions in hope of regaining investors' confidence; SEC to begin requiring credit rating agencies to differentiate between corporate bonds & structured finance products as well as make disclosures around past rating; .President Bush said he would sign a US$152 billion economic stimulus package into law next week; housing market has still not reached bottom, the number of workers drawing jobless benefits has hit a 2-1/4-year high and consumers are tightening their purse strings; Four of the five biggest U.S. securities firms lost about $83 billion of market value last year, almost 90 percent of their net income since 1999
SHAKERS + Movers on the Move
+ Angelia Powell to VP Real Estate Operations @ lululemon athletica inc.
+ Bob Rodda to COO @ Pason Systems Inc.
+ Clay Chambers to COO @ SulphCo Inc.
+ David Maxwell to Partner @ Burnet, Duckworth & Palmer LLP
+ Doug Dorey to Sr. Director, Altus Health Trust Canada @ Altus Group
+ Evan Truman to Associate, Calgary @ Colliers International
+ Gary Bugeaud to Managing Partner @ Burnet, Duckworth & Palmer LLP
+ Gillian Sinclair to Partner @ Dunphy Best Blocksom LLP
+ Gordon Cormie to Partner @ Scott Hall LLP
+ Harry Campbell to Vice-Chair @ Burnet, Duckworth & Palmer LLP
+ Jack Van Berkel to Exec. VP & COO @ Grubb & Ellis Company
+ Jeff Hanson to Pres. @ Grubb & Ellis Realty Investors
+ John Gill to Deputy Judge @ Supreme Court of the Northwest Territories
+ John McDonald to Publisher, Edmonton Journal @ Canwest Publishing
+ Jonathan Lexier to Pres. % CEO @ Highpine Oil & Gas Ltd.
+ Kerry Brown, CFO @ McCoy Corporation, resigned
+ Kim Reid to Director, Legal & Collections @ TransGlobe Property Management
+ Leif Snethun to VP Western Canada @ Canadian Superior Energy Inc.
+ Milica Stolic to CFO @ McCoy Corporation
+ Rita Richardson to Partner @ Dunphy Best Blocksom LLP
+ Robb Thompson to CFO @ Canadian Superior Energy Inc.
+ Sam Secreti to VP Finance & CFO @ Aveiro Investment Corp.
+ Stephen Brunner to COO @ Constellation Energy Partners
+ Wayne Kozun to Sr. VP Public Equities @ Ontario Teachers' Pension Plan
MARK Your Calendar; Business Events, Functions etc.
Feb. 20; 7th Annual RealCapital Conference, Metro Toronto Convention Centre North Building, Toronto; info/register: http://www.realestateforums.com/realfinance/mission. html ; co-chairs: Andrew Phillips, Managing Director, Investment Banking, TD Securities Inc.& Karen Weaver, CFO, First Capital Realty Inc.
March 6 - 7; Houston Technology Center 4th Annual Energy Technology Venture Capital Conference, Marriott Houston Westchase; info/register: http://www.houstontech.org/en/cev/?634
Apr. 1; 10th annual Montreal Real Estate Forum, Chaired by Philip O'Brien, CEO, Viger DMC International, Fairmont Queen Elizabeth, Montreal; info/registration: http://www.realestateforums.com/mtl/mtl/frame.html
Algonquin Oil & Gas Limited, Calgary, Annual and Special Meeting of Shareholders
National Bank of Canada, Annual Meeting of Common Shareholders, Montreal
Mar. 4;
Bank of Montreal, Quebec City, 190th Annual Meeting of Shareholders
Bank of Nova Scotia, Edmonton, Annual Meeting of Shareholders
Mar. 6; Panhandle Oil and Gas Inc. ; Annual Meeting, Oklahoma City, OK
Mar. 11; FP Resources Limited; Special Meeting Of Shareholdesr, St. Johns, Nfld.
Mar. 18; ONEOK Inc.; Annual Meeting, Tulsa,OK.
Apr. 8; First Calgary Petroleums Ltd.; Annual & Special Meeting of Shareholders, Calgary
Apr. 10; Nav Canada, Annual Meeting of Shareholders, Moncton
May 5; Enbridge Income Fund, Annual Meeting of Unitholders, Calgary
May 8; Apache Corporation, Annual Meeting, Houston, Texas
MARK Your Calendar; 2008 Charity & Industry Golf Tournaments
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
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:
"Death is not the greatest loss in life. The greatest loss is what dies inside us while we live." - Norman Cousins
"Success consists of going from failure to failure without loss of enthusiasm." - Winston Churchill
"Through zeal, knowledge is gotten; through lack of zeal, knowledge is lost; let a man who knows the double path of gain and loss thus place himself that knowledge may grow." - Buddha
"There is no better than adversity. Every defeat, every heartbreak, every loss, contains its own seed, its own lesson on how to improve your performance the next time." - Malcolm X
"I have learned that some of the nicest people you'll ever meet are those who have suffered a traumatic event or loss. I admire them for their strength, but most especially for their life gratitude - a gift often taken for granted by the average person in society." - Sasha Azevedo quotes (American
"My worst pain, deepest loss, a few times I've felt grief - do not deserve to be on the same page as the hurt I fear most - every parent does - that of losing a child. Whatever the age, cause or circumstance there must be no more unimaginable form of pain. Nothing I can imagine would hurt more. Nothing else I can imagine would stop me in life's tracks. Pain, loss and grief are so often talked about in the abstract - as a concept, rather than a reality - as something that happens to someone else." - Mark Kolke
'Too much ambition is a bad thing to have in a bunker." - Bobby Jones
"The older you get the stronger the wind gets . . . and it's always in your face.: - Jack Nicklaus
"A passion, an obsession, a romance, a nice acquaintanceship with trees, sand and water." - Bob Ryan
Her Diary: We played golf together today. On the way home conversation wasn't flowing so I suggested that we go somewhere quiet so we could talk. He agreed but he kept quiet and aloof. I asked him what was wrong. He said nothing. I asked him if it was my fault that he was upset. He said it had nothing to do with me and not to worry. When we got home I felt as if I had lost him, as if he wanted nothing to do with me anymore. He just sat there watching the golf channel. He seemed distant and absent. Finally, I decided to go to bed, about ten minutes later he came to bed. To my surprise, he responded to my caress and we made love, but I still felt that he was distracted and his thoughts were somewhere else. After I took my makeup off, I decided to confront him with the situation but he had fallen asleep. I started crying and cried until I too fell asleep. I don't know what to do. I'm almost sure that his thoughts are with someone else. My life is a disaster. - His Diary: Awful day at the golf course today! Shot a 94 - can't putt worth a damn! Got lucky though.
2 priests are having lunch. One priest says to the other priest, "I have sinned. I have used profanity." Startled, the other priest tells him it might be ok in reference to the text it was used. He tells him that he was playing golf. The following conversation ensued: Priest 1: Well, I drove the ball 350 yards right onto the green and right next to the cup. Priest 2: You used profanity for that? Priest 1: No. Just as I was walking up to putt, a bird swooped down and picked up my ball, carried it off, and dropped it in the pond. Priest 2: So then you used profanity? Priest 1: No. Then a huge snapping turtle came out of the pond with my ball and dropped it almost in the same spot it had landed in the first place. Priest 2: Well, you must have said whatever you said then? Priest 1: No. Then this twister came, I ran, and when I came back my ball was gone again. Priest 2: You got to be kidding? I would have sworn then. Did you? Priest 1: No. Then that same bird came back and he had my ball in its mouth and dropped it back on the green, 6 inches from the hole. So I ran up to the ball so I could knock it in Priest 2: Don't tell me you missed the effing putt?
MaxComm Communications - Writing Services
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www.frameyourmessage.com is our website - featuring information on services, writer credentials - writing, speaking, coaching -
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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 Musings are e-mailed daily to subscribers and are posted/archived on his blog http://markismusing.blogspot.com & on his Musing site:
+ 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.
+ Spoken Word Toastmasters . . meets every Tuesday at 5:30 PM at North Hill COOP community room (basement), 540 - 16ave., NE, Calgary, AB; contact club president for further info: nelson.keung@siemens.com . . next meeting February 12; http://members.shaw.ca/spoken_word
+ 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 February 13
+ 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 Feb. 14, 7PM http://mvpadvanced.freetoasthost.net
FACILITYCalgary, a MaxComm Communications publication, e-published every Monday. Subscription is free. To subscribe, write to: facilitycalgary@maxcomm.ca
+ the Victoria suburb of Saanich was the location of a brutal murder; Lindsay Buziak, a 24-year-old real estate agent who was showing a vacant home; Buziak is the daughter of Jeff Buziak from Avison Young's Calgary office. Our sympathy to Jeff & family on your tragic loss
+ winter cold may slow our blood flow & slow us in traffic, but there will be no shortage of hot-air blowing around soon as the provincial election gets into gear & Liberals in Ottawa sound poised to trigger a spring federal election; for now, looking at Alberta it is hard to get as excited as the media scribes who are spilling ink furiously predicting Stelmach doom - while realistically no one else, no other party, is in a position to offer Albertans a realistic alternative to governing; the Liberals might have a chance but for their leader Kevin Taft (Laurence Decore must be just steaming in his grave about now) who proves he is not what Albertans want every time he opens his mouth; then there are the rest of them - 5 party leaders contributing to global warming without a snowball's chance in Phoenix in summer time; PC's led by Stelmach will win by a solid 2-3 lengths, not because they are steller or incumbent or wise - but because the public see the Klein era as well-over, they see Stelmach as a do-er with a firm hand on the reigns. I suppose Arthur Kent deserves a mention. Ok, I mentioned him. 'Nuff said, he'll have to make a living somewhere else because he will no succeed in unseating Taylor in Calgary Currie no matter how much he attacks Premier Stelmach
+ the future of natural gas prices is on a lot of minds; the February issue of WAYDowntown will offer insight worth looking into . . stay tuned
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