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 9, 2008
+ Bank of Canada to re-set rates tomorrow; all eyes will be on the Bank of Canada as it tackles a conundrum confounding central banks around the world - slumping economy & creeping cast doubt on how low interest rates can go
+ crude oil futures @ 6:25AM, MDT as quoted by Bloomberg. com ; Nymex Crude Future US$137.08/barrel, Dated Brent Spot US$136.37/barrel, WTI Cushing Spot US$138.54 (Friday close)/barrel; oil declines slightly from last week's record of US$139/barrel as supply/demand stats fail to justify the trading frenzy as the increase in oil prices has nothing to do with supply & demand - fundamentals did not change
+ China's 'quake lake' continues to grow, rising 1 metre in the last 24 hours, threatens 1.3 million people as army engineers work feverishly to channel the swelling collection of water generated from recent earthquake activity. A massive barrier of rocks and mud was created in mid-May when a major quake shook China's southwestern Sichuan province, sending part of a mountainside crashing into the Tongkou river. 250,000 have been evacuated as a precaution
+ G8 - The Group of Eight industrialized countries lobbying China & India to agree to monitoring of cuts in energy use which are expected to fail without support from the world's fastest-growing economies
+ inflation is number one fear in financial markets worldwide as fuel & food costs spiral upward out of sync with economic growth
+ Lehman Brothers Holdings Inc. raising US$6 billion in new capital after reporting US$2.8 billion 2nd qtr. loss after taking mortgage related write-downs & selling off large blocks of assets
+ Justin Le0nard won US$ 1,080,000 in a 3 way playoff after a 4 under 256 performance in the PGA Stanford St. Jude Classic played at the TPC Southwind, Memphis, Tennessee
+ ABCP (asset backed commercial paper) restructuring of frozen $32-billion settlement approved by Ontario Superior Court; plan calls for the ABCP to be converted to long-term notes. Investors will likely face substantial losses. A provision in the plan provides blanket legal immunity to firms involved in issuing the ABCP
+ Alberta government provided the livestock industry with $356 million in efforts to stabilize the industry which has been hard hit by feed & fuel costs and challenges on world markets as government seeks to restructure how this sector functions . . stay tuned + Altus Group Income Fund agreed to acquire the property tax practice of Deloitte Canada
+ Baker Hughes Incorporated announced the international rig count for May 2008 was 1,075, up 1 from the 1,074 counted in April 2008, up 68 from the 1,007 counted in May 2007. The international offshore rig count for May 2008 was 305, up 8 from the 297 counted in April 2008, up 9 from the 296 counted in May 2007. The US rig count for May 2008 was 1863, up 34 from the 1,829 counted in April 2008, up 115 from the 1,748 counted in May 2007. The Canadian rig count for May 2008 was 135, up 29 from the 106 counted in April 2008, up 28 from the 107 counted in May 2007. The worldwide rig count for April 2008 was 3,073, up 64 from the 3,009 counted in April 2008, up 211 from the 2,862 counted in May 2007
+ Baytex Energy Trust closed its acquisition of Burmis Energy Inc.
+ BCE Inc. stalled $34 billion sale to Teachers' et al to be decided by Supreme Court of Canada, decision expected prior to June 30 closing deadline
+ Burmis Energy Inc. got shareholder & court approval of its plan of arrangement with Baytex Energy Trust
+ Cordero Energy Inc. remains in play as Enmax Corp. & Ember Resources each pitching their takeover bid is better . . stay tuned
+ Deep Down Inc. closed $40 million equity financing
+ Devon Energy Corporation closed US$2.2 billion sale of its oil & gas business in Equatorial Guinea to GEPetrol, the national oil company of Equatorial Guinea
+ Patriot Energy Corporation acquired TelTeck Solutions Inc.
+ Quest Energy Services (Canada) Ltd. , sub. of Al- Qahtani Marine & Oilfield Services Co. of Saudi Arabia secured control of Production Enhancement Group Inc. in its takeover bid
+ Questerre Energy Corporation closed $75 million equity financing
+ US/Eurpope recession watch: US Federal Reserve to leave interest rates on hold for now as ongoing fears about the economy trump any inclination to tighten monetary policy in order to fight inflation; U.S. unemployment rate surged to 5.5% in May, highest in last 4 yrs., lost jobs for 5th straight month; 1 million U.S. homes in some stage of foreclosure action; The Federal Deposit Insurance Corp. (FDIC) tracking 90 "problem" banks, 18% more than in the 4th qtr, loan loss reserves also rose 18% in the first quarter, to US$120 billion, largest increase in two decades, but non-current loans rose at an even faster pace, and approach US$140 billion; LandSource Communities Development LLC, a large Californian property developer backed by Calpers, the biggest public U.S. pension fund filed for bankruptcy protection; Barclays Plc, U.K.'s 4th biggest bank to raise new capital to replenish capital depleted by credit-market writedowns - will raise at least 7 billion pounds (US$13.8 billion) to maintain ratios
+ Verizon Communications agreed to buy Alltel Communications LLC for US$28.1 billion to become the largest U.S. cellular telephone provider with 80 million subscribers
SHAKERS + Movers on the Move
+ Bill Jensen to CEO @ Intrawest ULC
+ Brian Collins to Pres. @ Intrawest ULC
+ Ian MacLeod to Mgr. Roadway Design @ Focus Corporation
+ James Schaff to VP Land @ Petroleum Development Corporation
+ Jim Hanley to Mgr. Transportation Structures @ Focus Corporation
+ Jim Leondis to CFO @ Resin Systems Inc.
+ Lieutenant-General Walter J. Natynczyk to General & Chief of Defence Staff @ Canadian Forces, replacing General Rick Hillier
+ Mike Cooper to VP Sales, Canada Energy Measurement Products div. @ Landis+Gyr
+ Neil McCrank to Of Counsel @ Borden Ladner Gervais LLP
+ Neil McIntyre to Sr. VP, Co-leader Regional Energy Team @ AON
+ Peter Dorrins to COO @ Junex Inc.
+ Robin Vincent to Pres. & CEO @ Dynastar Inc.
+ Serge Dupont to Associate Deputy Minister of Natural Resources @ Government of Canada
+ Stephen Clarke to Regional Mgr., Calgary Region @ Focus Corporation
+ Susan Aglukark to Distinguished Scholar in Residence @ University of Alberta
+ Thomas Bugg to Pres. @ Genoil Inc.
+ Tim Bardsley to Associate @ Fraser Milner Casgrain LLP
+ William Frey to CEO @ SunEthanol
SAVE THE DATE:
Business Events, Functions etc.
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
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/
SAVE THE DATE:
Annual & Special Meetings
June 10;
Enterra Energy Trust, Annual Meeting, Calgary
June 11;
Orleans Energy Ltd., Annual Meeting, Calgary
June 17;
Welton Energy Corporation, Annual Meeting, Calgary
June 18;
Culane Energy Corp, Annual Meeting, Calgary
Pengrowth Energy Trust, Annual Meeting, Calgary
SulphCo. Inc., Annual Meeting, New York, NY
June 19;
Bronco Energy Ltd., Annual Meeting, Calgary
Canadian Spirit Resources Inc., Annual Meeting, Calgary
Advantage Energy Income Fund, Annual and Special Meeting, Calgary
Bankers Petroleum Ltd. , Annual General & Special Meeting, Calgary
July 18; CanArgo Energy Corporation, Annual Meeting of Stockholders, New York
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
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
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
+ Government of Canada & City of Calgary announced the federal government will provide up to $34.5 million to widen 52nd Street SE in Calgary from 114th Avenue to 130th Avenue SE from two to four lanes, and from 90th Avenue to 106th Avenue SE, from two to six lanes. The work also includes the construction of a grade separation at the Canadian Pacific Railway (CPR) rail line & the Western Headwaters Canal; intersection improvements; and storm water upgrades.
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
"There are only two tragedies in life: one is not getting what one wants, and the other is getting it." - Oscar Wilde
"The secret of getting ahead is getting started. The secret of getting started is breaking your complex overwhelming tasks into small manageable tasks, and then starting on the first one." - Mark Twain
"We are always getting ready to live, but never living." - Ralph Waldo Emerson
"By getting up early in the morning one also gets more time at his disposal for work as compared to late-risers. Scholar and thinkers get up early in the morning and contemplate. " - Rig Veda
"There is no more fatal blunderer than he who consumes the greater part of his life getting his living." - Henry David Thoreau
"If we keep doing what we're doing, we'll keep getting what we got." - David Thornburg
"Success is getting what you want; happiness is wanting what you get." - Ingrid Bergman
"I'd rather have a foe who believes in me than a friend who doesn't, I'd rather be late than not arrive at all, I'd rather my baggage takes the same trip I do, and on the same day, but I don't always get what I want." - Mark Kolke
"Not to get what you have your heart set on is almost as bad as getting nothing at all." - Aristotle
"Kissing is a means of getting two people so close together that they can't see anything wrong with each other." - Rene Yasenek
"I am hitting the woods just great ..... but having a terrible time getting out of them!" - Author Unknown
"Remember that not getting what you want is sometimes a wonderful stroke of luck." - Dalai Lama
"Golf is a game invented by the same people who think music comes out of a bagpipe." - Author Unknown
"Reverse every natural instinct and do the opposite of what you are inclined to do, and you will probably come very close to having a perfect golf swing." - Ben Hogan
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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+ 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 11
+ 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
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+ the U.S. presidential media coverage is just beginning & I'm starting to gag on the analysis already; at the end of the day, our American friends will elect someone who will chart far less policy than they promise, have less affect than they imagine & make few changes that can impact us here - the Iraq war, the deficit, the dollar . . or as a former president espoused 'it's the economy stupid' will dominate the next 4 or 8 yrs. with the critical issue being that of which party controls congress which appears to be the democrats which, historically, is not championed by congress. The Obama-mania is brilliant, exciting & capturing lots of attention based on charismatic speech & promises of substantive sea-change but most of the most hopeful do not expect to see much change about much at all
+ kudos to Randy Magnussen & Phil Markovich for hosting the 2008 Bentall Invitational Golf Tournament at Lynx Ridge on June 4th - as an invitee I can attest to a good time, a great outing & something magically kept the rain at bay all day
+ world leaders have failed to grasp the significance of it - but equities traders saw the spike in last week's oil prices for what it is - an economy buster. Soaring oil prices & resulting stock market hits have most North Americans grimacing at the pump, at the food check-out & at their portfolios; I have no difficulty understanding the concept of buyers & sellers speculating on the value of a stock, a bond or a gold bar - these things change hands as nano-speed with risk/reward dynamics long understood, but the trading of each 'new barrel of oil' is sounding more like pork- belly swapping all the time while politicians, particularly the G-8, need to realize this is more than a carbon trading 'reduce our footprint' exercise for the world but simply a 'we'll sell to the highest bidder no matter who it bankrupts' attitude in the middle east, led in large part by Saudis who control the swing factor in oil prices. Given the impending recession, the hit to anything that moves on wheels or in the air I'm liking the thinking of those who expect steep declines in oil prices as consumption retreats. Meanwhile, each time you fill up at the pump, just remember you just but lunch for a greedy trader somewhere . .
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