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 - June 2, 2008
+ crude futures prices @6:10AM, MDT, as quoted by Bloomberg.com - Nymex Crude Future US$126.23/barrel, Dated Brent Spot US$126.45/barrel, WTI Cushing Spot US$127.35 (Friday close) /barrel; speculation & weak US dollar have kept prices high - crude oil rose as the dollar declined against the euro, reaffirming the appeal of commodities as an inflation hedge
+ JPMorgan Chase & Co. completed its US$1.4 billion takeover of Bear Stearns Cos.
+ RBC Capital Markets agreed to acquire Richardson Barr & Co.
+ Royal Dutch Shell plc completed its merger between wholly owned subsidiary, Shell Energy North America (US), L.P. (Shell Energy North America) & four of that company's U.S.-based Coral operating companies - the merger affected Coral Energy Resources, L.P.; Coral Power, L.L.C.; Coral Energy Management, LLC; and Coral Gas Marketing LLC, all of which merged into Shell Energy North America June 1, 2008
+ VeraSun Energy Corp. closed US$125 million debt financing
+Kenny Perry won the PGA Tour Memorial Tournament at Muirfield Village GC, Dublin, Ohio; winning US$1.08 million; Canadian Mike Weir was 1 of 4 players tied for 2nd
+ Atlantic 'Hurricane Season' 2008 began June 1; forecasters predict above-average major hurricane landfall risk in the Caribbean; 69% probability a major hurricane-making landfall in the United States
+ Calpine Corp. claims US$11 billion takeover bid from NRG Energy Inc. is inadequate
+ CHS Inc. completed its US$400 million expansion at its Billings, Montana refinery
+ CIBC announced a further $2.5 billion in write downs, loses $1.1 billion on subprime collapse & warns of further loses if economic conditions worsen
+ Cordero Energy Inc. board recommending rejection of Ember Resources Inc. takeover bid; instead, recommending shareholders tender their shares to Enmax Corp. bid
+ Enbridge Inc. agreed to sell its 25% stake in Spanish pipeline firm Compania Logistica de Hidrocarburos SA for $1.36 billion
+ Fairborne Energy Ltd. closed $24,700,000 equity financing
+ Homburg-Harris Centre at 9th Avenue S.W. and 1st Street S.W. renamed as Penn West Place; tenant Penn West Energy Trust to occupy 100%
+ Ivanhoe Energy Inc. agreed to buy oilsands leases from Talisman Energy Inc. - $105 million; plan to build $1.8-billion integrated oilsands project near Fort McMurray
+ Kereco Energy Ltd. acquired Daylight Resources Trust for $301 million
+ Penn West Energy Trust closed US$475 million debt financing
+ recession watch: U.K. mortgage approvals dropped in April to the lowest in 9 yrs. & manufacturing growth ground to a halt; European Central Bank expected to resist cutting interest rates as it grapples with the fastest inflation in its 10 yr. history & a cooling economy; surge in food & gasoline costs fueling inflation expectations, threatening to limit the Federal Reserve's leeway in fighting recession; U.S. investor optimism lowest point in 5 yrs.; investors pessimistic about the outlook for the U.S. economy in the months ahead; Wachovia Corp., 4th largest U.S. bank ousted its CEO after subprime losses cost the lender more than half its share value in the past year; car manufacturing in slump at edge of new lows
+ Royal Dutch Shell Plc & Australia's Arrow Energy Ltd. signed an agreement for a US$700 million venture to extract natural gas from coal seams
+ Shawcor Ltd. agreed to acquire Flexpipe Systems Inc.; $130 million
+ Southern Pacific Resource Corp. & Rochester Energy Corp. agreed to merge
+ Spectra Energy to pursue large-scale integrated carbon capture & storage project near its existing Fort Nelson natural gas plant in NE BC
+ SulphCo. Inc. closed US$5.1 million equity financing
+ Talisman Energy Inc. in talks with CNOONC to sell up to $2-billion in assets
+ TransAtlantic Petroleum Corp. closed $9.0 million equity financing
+ Vannessa Ventures Ltd. changed its name to Infinito Gold Ltd.
+ western premiers threw their weight behind the northern territories, pledging to lobby Ottawa for better infrastructure in order to bring the economic boom of the West to the Arctic
+ Whiting Petroleum Corporation closed its US$365 million Flat Rock Field acquisition
+ XTO Energy Inc. agreed to acquired Bakken Shale assets from Headington Oil Company; US$1.85 billion
SHAKERS + Movers on the Move
+ Alan Marcum to Sr. VP Administration @ Devon Energy Corporation
+ Bruce Tucker to Pres. @ CH2M Hill Canada Ltd.
+ Carol Gray to Pres. @ Equifax Canada Inc.
+ Daniel Dexter to VP Canada & Marketing @ Computer Modelling Group Ltd.
+ David Reynolds to Mgr. Conventional Oil & Natural Gas @ Alberta Research Council
+ Don Fraser to Director of Sales @ Dynetek Industries Ltd.
+ Dr. Jim Erdle to VP USA & Latin America @ Computer Modelling Group Ltd.
+ Garwain Smart to VP Legal @ Oxford Properties Group
+ Gary Timlick to CFO @ The Wawanesa Mutual Insurance Company
+ Gregory Marr to CFO @ Detector Exploration Ltd.
+ Henri-Paul Rousseau, CEO, Caisse de depot et placement du Quebec resigned to become Vice Chairman @ Power Corp. of Canada
+ John Genova to Pres. & CEO @ Sterling Chemicals Inc.
June 10 - 12; Global Petroleum Show, Stampede Park, Calgary, info/register: http://www.petroleumshow.com/globalpetroleum/page. cfm/Link=12/t=m/goSection=8
June 19 & 20; Commodities, The Economy and Money Conference, Glenbow Museum, Calgary; info/registration http://www.haskayne.ucalgary.ca
July 4 - 13; Calgary Stampede, Stampede Park, Calgary; info/tickets: http://www.calgarystampede.com
July 7-9 ; 34th G8 Summit, Tokyo, Japan
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/
SAVE THE DATE:
Annual & Special Meetings
June 3;
Advantage Energy Income Fund - Annual Meeting, Calgary
Grey Wolf Exploration Inc. - Annual Meeting, Calgary
June 4;
Devon Energy Corporation - Annual Meeting, Oklahoma City, Oklahoma
Manulife Canada Ltd., Annual Meeting of Shareholder & Policyholders, Toronto
Twoco Petroleums Ltd. - Annual Meeting, Calgary
June 18; SulphCo. Inc. , Annual Meeting, New York, NY
June 26; CanArgo Energy Corporation, Annual Meeting of Stockholders, New York
June 27; Bankers Petroleum Ltd. ; Annual General & Special Meeting, Calgary
June 30; ACE Aviation Holdings Inc., Annual Meeting of Shareholders, Montreal
SAVE THE DATE:
2008 Charity & Industry Golf Tournaments
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
June 24; 18th Annual CMA Calgary Golf Tournament, in support of Ronald McDonald House Southern Alberta and Scott Smed Memorial Foundation, SilverTip Golf Resort, Canmore; info/register: angus@silvercrestinsurance.ca
June 26; CREB Charitable Foundation's 10th Annual Building Hope Charity Golf Tournament, Lynx Ridge Golf Club, Calgary; info/registration: http://www.hearttohome.org
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
+ Alberta power grid issues are heating up as regulators re-start the public consultation process to support a new north-south transmission line while AESO is calling for consideration of two lines . . stay tuned
+ TransAlta Corp. is planning $123 million expansion of its wind farm operations near Pincher Creek, a source of lots of wind (Joe Clark was from there) but, sadly, these projects blight one of our prettiest places
ALBERTA JUDICIAL SALES
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
"Success is neither magical nor mysterious. Success is the natural consequence of consistently applying the basic fundamentals." - Jim Rohn
"To fail is a natural consequence of trying, To succeed takes time and prolonged effort in the face of unfriendly odds. To think it will be any other way, no matter what you do, is to invite yourself to be hurt and to limit your enthusiasm for trying." - David Viscott
"Happiness is not a reward / it is a consequence. Suffering is not a punishment / it is a result." - Robert Green Ingersoll
"Every choice carries a consequence. For better or worse, each choice is the unavoidable consequence of its predecessor. There are not exceptions. If you can accept that a bad choice carries the seed of its own punishment, why not accept the fact that a good choice yields desirable fruit?" - Gary Ryan Blair
"I have found it advisable not to give too much heed to what people say when I am trying to accomplish something of consequence. Invariably they proclaim it can't be done. I deem that the very best time to make the effort." - Calvin Coolidge
"One might as well attempt to describe the smoothness of the wind as to paint a clear picture of his complete swing." - Grantland Rice writing about Bobby Jones
"In golf as in life it is the follow through that makes the difference."- unknown
"I've no desire to mislead anyone about anything at anytime - but unintended pain or gain of unintended consequences is not something I can predict, plan or avoid. My truth is my truth - in the moment, on the day, how I feel - that's my truth regardless of time of day or night. Tomorrow, next week or in two years my truth may be the same but my way of describing it will be clearer, more refined, somewhat evolved - or change radically. My truth is my perception of truth, mine, through my eyes." - Mark Kolke
"In golf as in life, it's the follow through that makes the difference." - unknown
"Golf is a game that needlessly prolongs the lives of some of our most useless citizens." - Bob Hope
"The golf swing is like sex. You can't be thinking about the mechanics of the act while you are performing." - Dave Hill
Fred called his friend in tears. "I can't believe it," he sobbed. "My wife left me for my golfing partner." "Get a hold of yourself, man," said his friend. "There are plenty of other women out there." "Who's talking about her?" said Fred. "He was the only guy that I could ever beat!"
Dame Fortune was seldom kind to Sam . Although Sam had a real zest for life he was constantly beset by bad luck. He loved poker but poker did not love Sam; he played the stock market with great anticipation but always seemed to be the one who bought high and sold low. His life seemed to be full of more downs than ups. His greatest delight was his golf game. Not that Sam was a great golfer; in fact, he never managed to break 100, but the odd shot that somehow ended up in the general area he had in mind was enough to keep his hopes alive. Finally Sam became ill and passed away. But just before he died, he asked that his remains be cremated and his ashes be scattered just off the fairway on the ninth hole of his home course. Accordingly, a gathering assembled to carry out Sam's wishes. It was a bright sunny day and was going well. Then, as the ashes were being strewn ... a gust of wind came up and ... blew Sam out of bounds.
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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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
+ 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 June 4
+ 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 June 12, 7PM http://mvpadvanced.freetoasthost.net
FACILITYCalgary, a MaxComm Communications publication, e-published every Monday. Subscription is free. To subscribe, write to: facilitycalgary@maxcomm.ca
+ distraction politics is always fun 'people watching'; it seems the Stelmach have, temporarily at least, taken oil soaked ducks & oilsands issues off the first page, replacing them with large-type headlines about wage increases for MLA's, cabinet ministers & even opposition leaders - silly media pundits fall for this kind of deflection every time while the politicians love it, replacing a story they cannot control with one that is so easy to spin; compared to private industry, we pay our elected officials chump change - sadly, we often get just what we paid for
+ speaking of chumps, how about the Harper government's ability to take a single photo of a cheap dress to such heights; Maxime Bernier's forgetfulness about a briefing book will never rank in history books with the likes of Gerda Munsinger, but for the moment it is the only thing breathing life into Liberal sails - sails, like political momentum require a steady stream of warm air . . but focusing on a sex scandal rather than carbon tax / environmental issues as we head into summer's burger flipping season might be smart politics; I don't think it is good government, just smart politics
+ the U.S. economy is something that U.S. Treasury Secretary Henry Paulson can't seem to find with both hands - now saying current troubles will be over in mere months, his focus on keeping the U.S. dollar's role as the world trading currency of choice; his efforts, like that of his boss George Bush, are lame, late & of no consequence . . NEXT . . !
+ U.S. politics watching is not a sport Canadians are going to enjoy much in coming months as the Democrats are in-fighting in what appears to be a well orchestrated effort to snatch defeat from the jaws of victory to the delight of McCain/Republican supporters
+ kudos to IFMA Calgary Chapter organizers for a wonderful golf tournament last week - 15th annual - my team finished well out of contention but a good time was had by all
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