FACILITYCalgary; 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 - July 14, 2008
+ Bank of Canada interest rate adjustment announcement tomorrow, Tuesday July 15
+ Bombardier Inc. announced it will build C-series fuel-efficient long range jets; the US$3.3 billion project will be supported by a $350 million loan from the Government of Canada, will result in creation of 3,500 Montreal area jobs
+ crude future@ 6:15AM, MDT as quoted by Bloomberg.com ; Nymex Crude Future US$143.78/barrel, Dated Brent Spot US$143.29/barrel, WTI Cushing Spot US$145.08(Friday's close)/barrel; crude prices jumped $5 to a record high above US$147 a barrel Friday amid growing worries about threats to supplies from Iran and Nigeria and a strike by Brazilian oil workers next week before settling back to US$145; today on Asian & European markets, crude oil fell as the U.S. dollar climbed against the euro, reducing the appeal of commodities as a currency hedge, the dollar rallied on measures announced by U.S. Treasury Secretary Henry Paulson to restore confidence in mortgage companies Fannie Mae and Freddie Mac
+ Freddie Mac & Fannie Mae mortgage companies have a commitment from the Federal Reserve, White House & US Treasury Department to help them weather loss of confidence in their stock & debt but no announcements yet on what form that help will take
+ InBev agreed to buy Anheuser-Busch for US$52 billion to form the world's largest brewer
+ Jones Lang LaSalle Incorporated & The Staubach Company completed a transaction to merge operations; the combined firm will operate under the Jones Lang LaSalle brand
+ Sudan's president charged with genocide; chief prosecutor of International Criminal Court filed genocide charges against Sudanese President Omar al-Bashir, accusing him of masterminding attempts to wipe out African tribes in Darfur
+ the U.S. Department of Energy reported a recent increase in the amount of natural gas stored underground in the United States; the increase was 90 billion cubic feet, leaving inventory 3.1% below the 5-year average
+ PGA Tour John Deere Classic played at the TPC Deere Run Course, East Moline, IL was won by Kenny Perry in a 3-way sudden death playoff; he earned US$ 756,000
+ Ashland Inc. agreed to acquire Hurcules Inc. for US$3.3 billion
+ BP Alternative Energy today acquired the Whiting Clean Energy facility (525MW) from NiSource Inc. for US$210 million
+ Black Hills Corp. sold 7 gas-fired power plants for US$$840 million to affiliates of Hastings Funds Management & IIF BH Investment
+ CGX Energy Inc. adopted a shareholder rights plan
+ CMHC ceased insuring zero-down mortgages; all transactions now require a minimum 5% down payment to qualify for CMHC insured high-ratio mortgage default insurance
+ Daylight Resources Trust agreed to acquire Athlone Energy Ltd. for $32.8 million
+ Dominion agreed to sell Dominion Peoples & Dominion Hope natural gas distribution companies to Babcock & Brown Infrastructure Fund North America for US$910 million
+ Dresser-Rand Group Inc. acquired Peter Brotherhood Ltd.
+ Ember Resources Inc. outlasted Enmax Corp. in takeover battle for Cordero Energy Inc.
+ Enhance Energy Inc. announced it will build a 240 km. $300 million carbon dioxide pipeline, Alberta's first, to ship CO2 to old oil fields to boost output; to be located in central Alberta, where it will capture carbon dioxide emissions from an oil sands upgrader planned by North West Upgrading Inc. & a nitrogen plant operated Agrium Inc. NE of Edmonton
+ Ensign Energy Services Inc. agreed to acquire 12 specialty drilling rigs from Terracore Specialty Drilling Ltd.
+ Huntingdon REIT are seeking a merger partner
+ Ivanhoe Energy Inc. closed is acquisition of two Athabasca oilsands leases from Talisman Energy Canada; $90 million
+ Leben REIT agreed to sell 8 of their 9 buildings to Whiterock REIT for $80 million
+ Marathon Oil Corporation agreed to sell Heimdal infrastructure, related producing fields and associated undeveloped acreage offshore Norway to Centrica plc for $416 million
+ Pembina Pipeline Income Fund announced completion of the Horizon Pipeline; the $400 million project began Nov/06 was substantially completed on schedule
+ Royal Bank of Canada write-downs relating to deteriorating U.S. credit markets expected to double to $3 billion
+ SNC-Lavalin acquired C.J. MacLellan & Associates of Antigonish, Nova Scotia
+ Solid Resources Ltd. & Bearing Gold Resources Corp. intend to merge, will operate as Solid Resources Ltd.
+ Southwestern Energy Company sold Arkansas Western Gas Company to Source Gas LLC for US$230 million
+ The Mullen Group Income Fund acquired the assets & business of Essential Energy Services Trust's Transport Division
+ Toronto-Dominion Bank taking $96 million write- down for losses of a rogue derivatives trader
+ U.S. /Europe recession watch: + Fannie Mae and Freddie Mac, originally chartered by Congress to help make money for home mortgages more readily available suffered a sharp drop in share value; together they hold or guarantee about US$5 trillion worth of mortgages (total U.S. homeowner mortgages estimated at $12 trillion), making them key players in the U.S. housing market, however, losses together with accounting rule change may require the two companies to keep a lot more capital on hand - Fannie would have to add US$46 billion to its reserves; Freddie would need to add US$29 billion - the law that created Fannie & Freddie explicitly says the government does not guarantee the loans . .but, given widespread consensus they are already insolvent, a government support bailout or sale seems the only likely solution on the horizon; European industrial production fell the most in almost 16 years in May, led by France & Germany; 7 of the biggest U.S. banks, are on the hook for at least US$300 billion of credit & liquidity guarantees for off- balance-sheet loans & bonds - such guarantees seemed remote when pledged as inducements to bond buyers, however, the first year-over-year decline in housing prices since the Great Depression, rising home-loan, commercial-mortgage & credit-card delinquencies have begun to trigger them so it is little wonder that U.S. banks are balking at new regulatory requirements to more fully disclose their off-balance sheet obligations however contingent they might be
+ WestJet announced code-sharing alliance with Southwest Airlines that will result in a wider array of route offerings for customers of both companies
SHAKERS + Movers on the Move
+ Andrew Will to Senior Operating Officer @ Alberta Health Services
+ Anthony Cleberg to VP & CFO @ Black Hills Corp.
+ Aslam Bhatti to Interim COO, Planning and Programs @ Alberta Health Services
+ Chris Wigle to Leasing Rep, Calgary @ ING Real Estate Canada
+ Craig Acott to Pres. @ Norwest Corporation
+ Daniel Fournier to Exec. VP & CIO @ SITQ
+ Don Klapko to Pres. & CEO @ Enterra Energy Trust
+ Dr. Chris Eagle to Chief Operating Officer, Urban @ Alberta Health Services
+ Gary Hunt to Interim CEO @ Grubb & Ellis Company
+ Howard Roth to Global & Americas Director of Real Estate @ Ernst & Young
+ Jason Theodor to Creative Director @ Critical Mass
+ Jim Saunders to COO, Corporate Services @ Alberta Health Services
+ Jim Wolfe to Head, U.S. Leveraged Finance @ RBC Capital Markets
+ Joe Aiello to Managing Dir. @ Norwest Corporation
+ Jonathan Lundy to CEO @ Schneider Power Inc.
+ Kay Best to Interim CFO @ Alberta Health Services
+ Ken McBean to Interim CFO @ Trimac Income Fund
+ Ken Wagner to Pres. @ Cascade Energy Services LP
+ Liam Brunner to Managing Dir. Valuation & Advisory Services, Western Canada @ Cushman & Wakefield LePage
+ Michael Borys to Sr. VP Finance & CFO @ Newalta Income Fund
+ Michael White to VP, Controller & CAO @ Michael Baker Corporation
+ Paddy Meade to Exec. Operating Officer, Continuum of Care Div. @ Alberta Health Services
+ Pam Whitnack to Chief Operating Officer, Rural Health @ Alberta Health Services
+ Phillip Cherry Jr. to VP Engineering & Operations @ New Generation Biofuels Holdings Inc.
+ Richard Nyahy to Manager of Geology @ Gastem Inc.
+ Robert Kayl to Sr. VP & CFO @ Tesco Corporation
+ Scott Peters resigned as Pres. & CEO @ Grubb & Ellis Company
Sept. 26; 5th Annual Meaning of Life Luncheon - Laugh a litle, Live a Lot! with Brent Butt; in Support of Hospice Calgary, Hyatt Regency, Calgary; info/tickets: tracy.aylesworth@hospicecalgary.com
Oct. 1-2; National Design-Build Conference, King Edward Hotel, Toronto; info/registration: www.cdbi.org/events/index.html
Oct. 22; Calgary Real Estate Forum; TELUS Convention Centre, Calgary; info/registration: http://www.mmpiwest.com/realestateforumswest/calg ary/
Oct. 23; Calgary Real Estate Leasing Conference; TELUS Convention Centre, Calgary; info/registration: http://www.mmpiwest.com/realestateforumswest/calg ary/
Nov. 24 - 25; P3 2008, CCPPP National Conference & Awards, Toronto Hilton, Toronto; info/registration:
July 18; CanArgo Energy Corporation, Annual Meeting of Stockholders, New York
Aug. 8; Canaccord Capital Inc., Annual Meeting of Shareholders, Vancouver
Aug. 13 - 16; Toastmasters' Annual International Convention, Telus Convention Centre, Calgary; info/registration http://www.toastmasters.org/2008convention
SAVE THE DATE - Charity & Industry Golf Tournaments
July 14; 8th Annual Ronald McDonald House Southern Alberta Charity Golf Classic, Silvertip Resort, Sponsor; info/registration: lorne@lawsonprojects.com or colleen@rmhsouthernalberta.org
July 22; 3rd Annual Calgary Oil & Gas Golf Classic, Lynx Ridge Golf Club, Calgary, info/registration: Peter Singleton @ 403-230-5888
July 29; Second Annual Terry Ruttan Memorial Golf Tournament, supporting the Calgary YWCA; Country Hills Golf Club, Calgary; info/registration: KristaLee@nortruck.com
August 15; University of Lethbridge Alumni Association - Calgary Chapter 7th Annual Alumni & Friends Golf Tournament, Shaw-nee Slopes, Calgary; info/registration: kfilbert@shaw.ca
Sept. 3; Mortgage Loans Association of Alberta, Calgary Chapter, 2008 Annual Golf Tournament. Inglewood Golf & Curling Club; info/registration: kheron@montrosecalgary.com
Sept. 10; 3rd Annual Dragon Around the Course Golf Classic, in support of Langdon School Council Society; Speargrass Golf Course, Carseland; info/registration: srotar1u@telus.net
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 federal and provincial governments will support a retrofit project for the Calgary Public Building to improve its energy efficiency and preserve it as a historical landmark - funding provided, $3.8 million
+ the Alberta government announced 2 initiatives, $2 billion each, aimed at impacting climate change issues; the first is a $2 billion allocation (companies need to apply for this non-repayable funding) to advance carbon capture & storage projects; the 2nd is another $2 billion for energy-saving public transit initiatives. Alberta's Climate Change Action Plan, proposes to cut projected green house gas emissions in half by 2050, based on 3 key areas: carbon capture & storage; energy conservation & efficiency; & greening energy production
Put it off and you'll never be finished!
Procrastination is a pox on productivity or, an untapped poorly managed resource - which is it for you?
MaxComm Communications presents a new series of seminars well suited to conference programs, sales meetings or training sessions:
Keynote presentation 'Put it off and you'll never be finished'
Warm up act 'Getting ready to not be ready'
Interactive Work shop: 'Being prepared to be unprepared'
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
"Natural abilities are like natural plants; they need pruning by study." - Francis Bacon Sr.
"As the gardener, by severe pruning, forces the sap of the tree into one or two vigorous limbs, so should you stop off your miscellaneous activity and concentrate your force on one or a few points." - Ralph Waldo Emerson quotes
"What is life? It is the flash of a firefly in the night. It is the breath of a buffalo in the wintertime. It is the little shadow which runs across the grass and loses itself in the sunset." - Crowfoot
"The moment one gives close attention to any thing, even a blade of grass it becomes a mysterious, awesome, indescribably magnificent world in itself." - Henry Miller
"Men do change, and change comes like a little wind that ruffles the curtains at dawn, and it comes like the stealthy perfume of wildflowers hidden in the grass." - John Steinbeck
"The tallest blade of grass is the first to be cut by the scythe." - Russian Proverb
"When grass grows (like people) it does not know any boundary, only the cuts of sharp objects trimming it into place, holding it back - but grass wants to grow and wander. My garden of life has trimming, pruning and remedial work to do as well. Today I'll exercise in real-time though my mind will likely float more toward the garden I want to build." - Mark Kolke
"A typical day in the life of a heavy metal musician consists of a round of golf and an AA meeting." - Billy Joel
"Anyone who likes golf on television would enjoy watching the grass grow on the greens." - Andy Rooney
"Golf is a fine relief from the tensions of office, but we are a little tired of holding the bag." - Adlai Stevenson
" I used to get out there and have a thousand swing thoughts. Now I try not to have any." - Davis Love III
"In golf as in life it is the follow through that makes the difference." - Anonymous
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:
oil & gas, energy
environment
education
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+ 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; 70+ Toastmasters clubs in Calgary. Toastmasters offer a supportive environment, networking opportunities & a proven program to help people overcome their worst fear - public speaking. http://www.toastmasters.org/websiteApps/
+ 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 VP Membership, Shelley.Musfelt@fluor.com - next meeting July 24, 7PM; http://mvpadvanced.freetoasthost.net
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+ I've been golfing for nearly 40 years but only with intent for the last 20 or so; I'd never had a hole-in-one & never dreamt I could do it - but, as my personal contribution to Canada Day Celebrations on July 1st, on the 8th hole, Raven Course @ Priddis Greens I did the deed; witnesses I am not related to can confirm it (many thanks to Dave Patterson from Teknion & his lovely wife Karney for sharing my moment); while the game of golf remains unchanged as a result of this milestone, I can confirm there is no other feeling quite like it
+ the Calgary Stampede has come & gone for another year - Joe Carbury retired as the voice of 'the chucks' after 45 years, simply awesome! Whether attendance was soft due to weather, gas prices or boredom is not clear, but once again cowboy spirits, other spirits, denim & cowboy hats aided us all in laughter as gateway to summer in Calgary; kudos to Conroy Ross for the best Stampede Luncheon & Jerliyn Wright & Associates for the best breakfast - not just because they invited me - but because they do it so well year after year . . well done!
+ Stephane Dione came to town, like a wild west gunslinger trying to call the sheriff (in this case Prime Minister Harper) out for a shoot-out over climate change; he proved, like so many Liberal leaders before him, that hissing in the wind & bully tactics not only alienate the west, it contributes to having us dismiss his party, his borrowed 'green shift' slogans & his 'look, I've copied BC, plan to introduce a 'revenue neutral' tax plan to solve the problem. Rather than addressing Alberta with a 'lets figure out a solution that does not stop the economy' approach, he came to town with only a spatula in his holster. I believe he flipped a few flapjacks & left down. Did anyone notice he was here?
+ Ed Stelmach - committing to spending $4 billion of surplus in green paint is, in my view, making a serious mistake; it seems to me we have a legislature & a legacy (remember the Getty years?) of funding some pretty large private sector mistakes. To announce $4 billion in spending initiatives on things that have not been addressed in a Throne Speech, never been debated in the Legislature & not approved by the citizens of Alberta is an outrage. I'm not saying they are wrong headed initiatives, but his commitment to fund proposals that smell right only sets his government up for ridicule & rip-off because he wanted some short-term headline relief. The discussion & acceleration of industry initiatives is a great idea, the tossing about of cash at the same time the health care system cannot meet needs is too Klein-like for my taste
+ high oil prices & unsustainable natural gas prices are not supported by fundamentals as much as sentiment - neither of which reflect what is happening next door as the U.S. economy heads steadily downward on the coat-tails of a housing market collapse, credit crisis & a war - draining cash, political capital & defying gravity that will leave no good memories of a lame-duck president hopelessly fighting a fire with a squirt gun . . stay tuned, bad will turn to worse, then worse will turn to a lot worse, not the least of which are the teetering Fannie Mae and Freddie Mac
+ Art Smith died; I met him 6 years ago - got some sage advice on a problem; he was no less than icon, an example to us all that hard work, caring about community, country & good government is the most worthy of work
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