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, March 3, 2008
+ crude oil prices @ 6:15AM, MST, as quoted by Bloomberg.com ; Nymex Crude Future US$101.18/barrel, Dated Brent Spot US$99.96/barrel, WTI Cushing Spot US$101.84 (Friday close)/barrel; crude oil fell a 2nd day before an OPEC meeting this week where the producer group is expected to keep its output targets unchanged after prices vaulted more than 3% last week to an all-time peak near US$103 (eclipsing previous inflation- adjusted high set 28 years ago) after a fire hit a major European natural gas terminal & the U.S. dollar fell to a record low
+ Dmitry Medvedev won 70.1 % of the vote in Russia's presidential election, a mandate to succeed Vladimir Putin
+ election day in Alberta; 192 candidates across Alberta´s 83 ridings compete for seats in the Alberta Legislature; Premier Ed Stelmach's Progressive Conservatives expected to retain a majority of seats to extend 36 years of PC government
+ on this day in 1921 Toronto's Dr. Banting & Dr. Best announce discovery of insulin
+ OPEC likely to leave oil output unchanged at Mar. 5 meeting
+ PGA Tour 2008 Honda Classic was won by Ernie Els at PGA National Resort and Spa - Champion Course · Palm Beach Gardens, FL; Els shot a 6-under 274 to win by one stroke over Luke Donald to win US$990,000
+ ATB Financial wrote down $29.3 million, provision for losses on asset-backed commercial paper
+ BMO facing $495 million in write downs in weak effort to support its failing asset back commercial paper trusts (Apex & Sitka); continued operation of the trusts expose the bank to losses as great as $1.9 billion
+ Canadian Imperial Venture Corp. agreed to acquire Shoal Point Energy Ltd.
+ Compton Petroleum Corporation engaged advisors to explore strategic alternatives for enhancing shareholder value
+ Empire Company Limited closed the sale of 61 properties held by wholly-owned Sobey Leased Properties to Crombie REIT for $428.5 million
+ EU (The European Commission) fined Microsoft a record 899 million euros ($1.35 billion) on for defying sanctions imposed for antitrust violations
+ Grand Banks Energy Corporation engaged advisors to investigate strategic alternatives to maximize shareholder value
+ Ivanhoe Cambridge agreed to acquire Deerfoot Meadows(540,000 sq. ft. of retail space + 500,000 sq. ft. to be developed) from Heritage Partners
+ Kinder Morgan Energy Partners LP closed $282 million equity financing
+ NAL Oil & Gas Trust acquired Tiberius Exploration Inc. & Spear Exploration Inc. for $118 million
+ Noble Energy Inc. announced its 2008 Capital Expenditures Budget of US$$1.6 billion
+ Nortel Networks announced 4th qtr. losses & plans to cut more than 2,000 jobs
+ PetroGlobe Inc. closed $2 million equity financing
+ U.S. recession watch: foreclosure filings on 233,001 properties in Jan,, up 57% from Jan 2007; repossessions rose 90 % in Jan over Jan 2007; optimism in the U.S. economy among CEOs has fallen 59% in the last year, its lowest point in the 16 years since PricewaterhouseCoopers launched its Trendsetter Barometer; Goldman Sachs forecasting future losses on commercial mortgages of US$183 billion, but CMBX index is pricing a loss 8% higher; Federal Reserve Chairman Bernanke signaled a readiness to cut interest rates again; sales of new U.S. single-family homes slumped to a 13-year low in January; mortgage financier Freddie Mac announced US$2.5 billion 4th qtr. loss; Merrill Lynch & Co Inc. to wind down its First Franklin subprime mortgage lending unit; American International Group Inc (AIG) world's largest insurer posted a $5.29 billion loss quarterly loss due to write-down of securities exposed to bad mortgage investments; Warren Buffett says U.S. is in a recession from "a common sense standpoint"
SHAKERS + Movers on the Move
+ Bill Thornton to Pres. & COO @ MegaWest Energy Corp.
+ Claude Courtemanche to VP, Country Manager, ALgeria @ First Calgary Petroleums Ltd.
+ Darin Drall to VP Engineering @ Westfire Energy Ltd.
+ David Bernatchez to VP Land @ Westfire Energy Ltd.
+ David Dykes to Vice-Chairman & CEO @ Western Surety Company
+ David Savage to CFO @ First Calgary Petroleums Ltd.
+ David Sealock to VP Corporate Services @ MegaWest Energy Corp.
+ Deborah Stein to VP Finance & CFO @ Altagas Income Trust
+ Edward Sullivan to Assistant General Counsel Peabody Energy
+ Frank Muller to Sr. VP Exploration @ Westfire Energy Ltd.
+ George Magarian to Mgr. Geosciences @ Westfire Energy Ltd.
+ George Orr to CEO @ MegaWest Energy Corp.
+ George Stapleton to CEO @ MegaWest Energy Corp.
+ James Munro to Algeria Co-Director General @ First Calgary Petroleums Ltd.
+ Jason Schoenfeld @ Westfire Energy Ltd.
+ Jeffrey Angel to VP Corporate Communications & Investor Relations @ First Calgary Petroleums Ltd.
+ Joyce Mitchell to Partner @ McLennan Ross LLP
+ Kelly Sledz to VP Finance & Controller @ MegaWest Energy Corp.
+ Lowell Jackson to Pres. & CEO @ Westfire Energy Ltd.
+ Mary Frontczak to VP @ Peabody Energy
+ Richard Alexander to Pres. & COO @ Altagas Income Trust
+ Robert Young, Pres. & CEO @ Mancal Corporation, retiring
+ Ross Douglass to Pres. & CEO @ Mancal Corporation, upon retirement of Robert Young
+ Scott Donald to Pres. & COO @ Western Surety Company
+ Stephen Burtt to VP Finance & CFO @ Westfire Energy Ltd.
+ Steven Enger to Exec. VP & CFO @ Ellora Energy Inc.
+ Terry Holland to Pres. @ McCrums Office Furnishings
+ The Honourable Milt Harradence, retired Justice @ Court of Appeal of Alberta, died
+ Todd Newton, Pres. & CEO @ Synenco Energy Inc., resigned
+ Tom Pepevnak to Partner @ Borden Ladner Gervais LLP
+ Wayne Sampson to VP Land @ MegaWest Energy Corp.
+ William Masters to Exec. VP & General Counsel @ Superior Energy Services Inc.
MARK Your Calendar; Business Events, Functions etc.
March 5; OPEC - 148th (Ordinary) Meeting of the OPEC Conference, Vienna, Austria; info: http://www.opec.org
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
March 11; Mortgage Loans Association of Alberta Luncheon, Sheraton Eau Claire Suites, Calgary; Guest Speaker Mark Kolke - Defaults, Foreclosures & Judicial Sales; Info/Registration: mlaa- clgy@shaw.ca
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
Apr. 14; 2008 Western Business Outlook Briefing , The Conference Board of Canada; Calgary TELUS Convention Centre; info/register: http://www.conferenceboard.ca
Apr. 15; 2008 Edmonton Real Estate Forum, Shaw Conference Centre, Edmonton; John Frederickson, Managing Dir, Colliers Edmonton, Chairman; info/registration: http://www.mmpiwest.com/realestateforumswest/edm onton/
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:
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
Calgary Office Space For Lease
office leasing services
for leasing/purchasing assistance, contact: Mark Kolke
"Politics is the gentle art of getting votes from the poor and campaign funds from the rich by promising to protect each from the other." - Oscar Ameringer
"In politics stupidity is not a handicap." - Napoleon Bonaparte
"Democracy means simply the bludgeoning of the people by the people for the people." - Oscar Wilde
"Politics is the art of looking for trouble, finding it, misdiagnosing it, and then misapplying the wrong remedies." - Groucho Marx
"Republicans have been accused of abandoning the poor. It's the other way around. They never vote for us." - Dan Quayle
"Under democracy one party always devotes its chief energies to trying to prove that the other party is unfit to rule - and both commonly succeed, and are right." - H.L. Mencken
"Politics has become so expensive that it takes a lot of money even to be defeated." - Will Rogers
"Those who are too smart to engage in politics are punished by being governed by those who are dumber." - Plato
"Fact and opinion matter but we've been numbed into some state of not caring because it doesn't matter, not getting involved because we cannot affect the outcome, not engaging because 'things are pretty good'. I wonder to what degree we, the pandered to, truly thirst to follow anything or anyone, how strongly we feel both need and responsibility to cast votes, contribute to decisions and truly affect change with our vote." - Mark Kolke
"In war, you can only be killed once, but in politics, many times." - Winston Churchill
"Forget your opponents; always play against par." - Sam Snead
I guess there is nothing that will get your mind off everything like golf. I have never been depressed enough to take up the game, but they say you get so sore at yourself you forget to hate your enemies. ~Will Rogers
"Give me golf clubs, fresh air and a beautiful partner, and you can keep the clubs and the fresh air." - Jack Benny
"Golf is a lot of walking, broken up by disappointment and bad arithmetic." - author unknown
MaxComm Communications - Writing Services
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
real estate, development, residential & commercial
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 March 4; 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 March 5
+ 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 March 13, 7PM http://mvpadvanced.freetoasthost.net
FACILITYCalgary, a MaxComm Communications publication, e-published every Monday. Subscription is free. To subscribe, write to: facilitycalgary@maxcomm.ca
+ a big waytogo to the Calgary Tower & The ATCO Group (they are supplying the natural gas); today from 10 a.m. until 10 p.m, the Olympic Flame at the top of the Calgary Tower will burn in honour of the fallen police, fire, military and emergency service workers who have died in the line of duty. Today is also the 3rd anniversary of the slaying of four RCMP officers at Mayerthorpe, Alta. "Watching the flame burn, we hope everyone will take a moment to celebrate the contribution of these dedicated individuals who work tirelessly to make communities a better to place to live across Canada and around the world in countries like Afghanistan," said Nancy Southern, president and CEO of the ATCO Group.
+ the provincial election campaign has been anything but scintillating; Ed Stelmach has finally, I think, begun to convince Albertans that his lack of public presentation polish & reparte is made up for with solid work & balanced decision making, Kevin Taft has proven once again his arrogance & 'pick me, it will be different' strategy has insufficient traction to get him across the aisle, Brian Mason continues to live the bus driver's career dream of nice suits paid for by someone else & a soapbox to shout from; of the lesser parties there is one standout person who, if he can get some seats, could make him a genuine opposition . . that is Wildrose Alliance leader Paul Hinman - ignored by the mainstream media in final days of the campaign, how his party fares in both seats & popular vote might make some interesting watching this evening. Meanwhile, polls seem to indicate the Alberta electorate's interest in change is minimal . . stay tuned
+ continued woes in U.S. financial markets are, finally, starting to impress Canadians as something that will hit home here - SOCKO! - no doubt underscored by last week's hissing-match between Finance Minister Flaherty & Mr. McGuinty's Ontario government over lack of support for the struggling auto parts & other manufacturing concerns because they are having trouble; Ontario should get used to it & try some bootstrap initiatives on productivity & innovation; Albertans have been doing it on their own because Ottawa (even when we have had an Albertan prime minister) have learned to live without help from Ottawa throughout are history (ie: the Crow rate, NEP, lack of help dealing with Mad Cow scare, greenhouse gases. Canadian Wheat Board monopoly on barley. . to name a few irritants)
+ NE British Columbia is getting a lot of attention, particularly in light of major natural gas discoveries in the Horn River basin . . stay tuned
+ the federal government budget was a ho-hum exercise in 'keep the Harper minority government in place & avoid an election' which it appears it will but there was disappointment in many circles that a plan to introduce deferral of capital gains taxes & the folds at E & Y have captures the dullness of the complex compromises with a flair only reserved for accountants . . enjoy
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