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, January 14, 2008
+ Citigroup Inc., the 2nd largest U.S. bank to take US$24 billion in write-downs & lay off 20,000 as part of a plan to cut costs & boost capital; their plan to sell a US$2 billion stake to China Development Bank could be in trouble because of opposition from the Chinese government.
+ crude prices @ 6:00 AM, MST as quoted by bloomberg.com: Nymex Crude Future US$93.46/barrel, Dated Brent Spot US$91.66/barrel, WTI Cushing Spot US$92.69/barrel (Friday close); prices up this morning on violence in Nigeria & tensions in Iran; crude traded near a three-week low in New York on Friday after falling the most in two months last week ; prices slumped on widespread fears slowing economic growth in the United States could dampen demand there, persistent worries of recession put downward pressure on the market
+ Penn West Energy Trust closed its acquisition of Canetic Resources Trust
+ U.S. dollar at 7-week low against the euro on speculation U.S. interest rates will drop below those of the 15 nations that share the euro for the first time in three years.
+ U.S. Federal Reserve expected to reduce interest rates further on cues given by Chairman Ben Bernanke following months of debate of over the competing risks of slower growth and faster inflation, and is ready to make deeper interest-rate cuts in an effort to revive short-term lending
NEWS Review - January 8 - 13
+ Alberta likely to go the polls in a March provincial election
+ Canadian Natural Resources Limited closed US$1.2 billion debt financing
+ Canetic Resources Trust closed its acquisition of control of Titan Exploration Ltd.
+ Canoro Resources Ltd. closed $2,593,350 over-allotment of an equity financing
+ CIBC, in the wake for a further $2 billion in sub- prime mortgage related write-downs, shook up senior management
+ IBI Group is merging with Landplan Associates; will operate as IBI/Landplan
+ Kereco Energy Ltd. agreed to sell most its natural gas assets for $241 million as part of a reorganization
+ NuVista Energy Ltd. agreed to acquire Rider Resources Ltd., $287 million
+ Penn West Energy Trust closed its acquisition of Vault Energy Trust
+ Petro-Reef Resources Ltd. announced a 2008 Capital Expenditures budget of $13.5 million
+ recession watch: Countrywide Financial Corp, the largest U.S. mortgage lender, reported that foreclosures & late payments rose in December to the highest on record; Citigroup Inc., Bank of America Corp. & Merrill Lynch are expected to post their worst- ever quarter, beset by $35 billion of write-downs
+ SNC-Lavalin acquired DTI Telecom Inc., a Montreal engineering & consulting firm (65 professionals) specializing in telecommunications
+ TransCanada Corp named sole finalist for state sponsorship of the $26 billion project under the Alaska Gasline Inducement Act to construct a natural gas pipeline from Prudhoe Bay to NW Alberta over protestations by ConocoPhillips advocating for their 'fixed-tax' bid
+ TransGlobe Energy Corporation agreed to acquire GHP Exploration for US$40.2 million
+ Trinidad Energy Services Income announced it will reorganize & convert to a corporation
+ rig counts are up over last month & over last year according to Baker Hughes:
+ John Icke to Pres. & COO @ Longview Capital Partners
+ Kathleen Wollenberg to VP @ Toombs Inc.
+ Manley Osbak to VP Technical Services @ The Crossing Company Inc.
+ Mark Rupert to VP U.S> Operations @ Enterra Energy Trust
+ Ryan MacLean to Pres. @ The Crossing Company Inc,
MARK Your Calendar; Business Events, Functions etc.
Jan. 17; IFMA Calgary Chapter FACILITY TOUR: City of Calgary's Water Centre; info/register: http://www.ifmacalgary.org
Jan 22 - 25; World of Concrete; Las Vegas Convention Center, Las Vegas; info/register: tcindric@HanleyWood.com more information: www.worldofconcrete.com/woc2008/public/enter.aspx ?left=0&nav=0
Feb. 1; 147th (Extraordinary) Meeting of the OPEC Conference, Vienna, Austria; http://www.opec.org/
Feb. 4, Speech From The Throne, Alberta Legislature, Edmonton
Feb. 8-10; Davis Cup Tennis, Canada vs. Mexico, Calgary Stampede Corral, 'box' ticket sales available now through Harold Milavsky's office: 403- 269-0631
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
Jan. 15; Texas Gas & Oil Inc. , Burnaby, BC; Special Meeting of Shareholders
Feb. 7; National Energy Group Inc., Dallas, TX, Special Meeting, dissolution of the company
Mar. 4; The Bank of Nova Scotia, Edmonton, Annual Meeting of Shareholders
Mar. 6; Panhandle Oil and Gas Inc. ; Annual Meeting, Oklahoma City, Oklahoma.
Apr. 8; First Calgary Petroleums Ltd.; Annual & Special Meeting of Shareholders, Calgary
Apr. 10; Nav Canada, Annual Meeting of Shareholders, Moncton
May 8; Apache Corporation, Annual Meeting, Houston, Texas
MARK Your Calendar; 2008 Charity & Industry Golf Tournaments
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
+ three groups have been short-listed to submit proposals to develop 18 new schools for Calgary & Edmonton as a public-private partnership. The successful proponent is expected to be selected by July 2008, with construction beginning as early as this fall and completed by September 2010. The request follows the close of the Request for Qualifications (RFQ) stage. The three consortia are:
New Alberta Schools (led by Carillion Canada Inc. & Acciona S.A.)
B&B Alberta Schools (led by Babcock & Brown Canada ULC)
Plenary Education Alberta (led by Plenary Group (Canada) Ltd.)
+ Brookfield Asset Management Inc. agreed to buy a Brazilian hydroelectric facility from NRG Energy Inc. for $286 million
+ a big waytogo to the Vento Residences project; 22 townhouse unit, 39,000-sf project, earned LEED Platinum certification from the Canada Green Building Council, the first multifamily residential project in North America to earn LEED's highest honor. Developed by Windmill Development Group on the site of the former Calgary General Hospital, Busby Perkins+Will designed the project.
"Confidence comes not from always being right but from not fearing to be wrong." - Peter Mcintyre
"Confidence, like art, never comes from having all the answers; it comes from being open to all the questions." - unknown
"Be who you are and say what you feel because those who mind don't matter and those who matter don't mind." - Dr. Seuss
"Never forget that only dead fish swim with the stream." - Malcolm Muggeridge
"All you need in this life is ignorance and confidence, and then success is sure." - Mark Twain
"My expectations are clear - they don't change so much as do the facts; my expectations do not produce opportunities, they are the mindset that lets those opportunities come into view - like the waiting tablecloth, pulled from its storage place, laid out on the table, ready, waiting for dinner to be placed there." - Mark Kolke ." - Mark Kolke
"Confidence is the most important single factor in this game, and no matter how great your natural talent, there is only one way to obtain and sustain it: work." - Jack Nicklaus
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.
www.frameyourmessage.com is our website - featuring information on services, writer credentials - writing, speaking, coaching -
We have established a presence in Houston, Los Angeles and Maui - staffing up in each market with well credentialed writers in those markets with subject area expertise and availability. Our work is 99% English content for audiences in Canada, US, UK, Australia:
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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 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 January 15
+ 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 January 16
+ 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 Jan. 24, 7PM http://mvpadvanced.freetoasthost.net
+ have you ever seen a nature film where a snake swallows an animal many times its size creating a spectacular sight - no think of Bank of America swallowing Countrywide whole; on the surface it seems like a US$4 billion footnote, but the carnage that is coming will wreak havoc on a lot more folks than if Countrywide had been allowed to founder the way it was headed; now, instead of a pending failure of the largest mortgage originator, the risk is shifted to one of confidence in the largest U.S. bank
+ Prime Minister Harper gathered with the Premiers to do some nothing-speak about the state of the economy in Canada no better described than 'watch what happens when we have dollar parity with the United States', offered $1 billion in program aid to help to those who export targeted at small community impacts which is too small to be considered anything worthwhile, too large to be considered a small waste; what is not being talked about much - the auto industry is where it is most glaring - is that Canadian prices are too high (taxes a large part of it) & productivity is too low . . . so we are not competitive
+ over the past 40 yrs. Canada has never sidestepped a U.S. recession & we likely won't escape this one either; spillover will first & hardest in trade (eastern Canada manufacturers already hard hit) plus all our strong export markets together with Canadian consumers & corporations sourcing cheaper goods outside Canada. .
+ when will it end? . . not long ago Carl Icahn called for US$100/barrel oil only to have pundits scoff - now that we've reached that level some experts are predicting $200 . . even Jeff Rubin @ CIBC who is always too bullish for my taste is saying US$150/barrel http://research.cibcwm.com/economic_public/downloa d/occtrept65pdf ; some things I've read say there is no justification for current pricing based on supply/demand, indicating the price run-ups are all about fear; as prices run wild the cash flow(power) flows to the middle eastern states as much or more than anywhere else, in turn funding investments in Europe, the U.S. & Canada . . which, if nothing else, is keeping our cash in circulation
+ Ed Stelmach may be a good manager, a steady hand on the tiller - but how can we have confidence in a man who goes ballistic because a college kid registered a blog using his name - threatening legal action too - making him look stupid; then again, I saw him interviewed on TV on the eve of his dinner with the Prime Minister only to wish he would talk about his blog-gate issue because it would have made more sense; sadly, there is no credible threatening opposition party/leader in the province to give the Tory machine a wake up call, but any credibility Steady- Eddie has been building is eroding every time he opens his mouth lately
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