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 31, 2008
+ Aloha means both hello & good-bye; today is 'good- bye' to Aloha Airlines who are shutting down in a bankruptcy proceeding after 60 yrs. of operation . . aloha
+ Arsenal Energy Inc. closed $3,843,738 equity financing
+ crude oil futures @ 5:00AM, MDT, as quoted by Bloomberg.com : Nymex Crude Future US$105.16/barrel, Dated Brent Spot US$103.67/barrel, WTI Cushing Spot US$105.62(Friday's close)/barrel; crude oil prices fell Friday in New York as flow of oil to Iraq's Basra export terminal resumed after an explosion; prices had risen earlier in the week on news of the explosion
+ it's over . . the first quarter of 2008; analysts on Wall Street & Bay Street will cite today as a turning point of some sort, rationalized, sliced & diced as something meaningful . . . but for most people it's just Monday; some people will have a birthday which makes it a great day, but for everyone else it's just Monday
+ U.S. Treasury Secretary Henry Paulson will announce a shake-up of financial market regulation with new regulations on mortgage activity, vesting new powers as a "market stability regulator" in the Federal Reserve . . stay tuned
+ Zurich Classic of New Orleans played at Tournament Players Club, New Orleans, Louisiana; PGA Tour event won by Andres Romero, his first PGA Tour win, with a 13-under 275 to win US$1.16 million
+ Aspen Properties completed their acquisition of 444 - 5th Avenue SW
+ Bank of Montreal closed $900 million debt financing
+ Canadian Superior Energy closed its $51.2 million acquisition of Seeker Petroleum Ltd.
+ CIBC revealed further exposure to the U.S. credit crisis - $25 billion connected to mono-line insurers (they guarantee the timely repayment of bond principal & interest when an issuer defaults)
+ El Paso Corporation closed disposition of certain exploration & production assets, US$752 million in 4 transactions
+ ENMAX Energy Corporation sub. ENMAX Green Power Inc. agreed with Creststreet Kettles Hill Windpower LP to acquire Kettles Hill Wind Energy Inc., the owner and operator of the Kettles Hill Windpower Facility, for $163 million
+ First Capital Realty closed $109 million equity financing
+ Imperial Oil is studying viability of its $8 billion Kearl oil sands mine in wake of having a key water permit revoked by the Federal Government for failing to address greenhouse gas implications; the ruling is under appeal . . stay tuned
+ Retirement Residences REIT changed their name to Revera Inc.
+ Scotiabank closed $345 million equity financing
+ Scotiabank closed $1.7 billion debt financing
+ Sterling Resources Ltd. closed $5,000,000 over- allotment of an earlier equity financing
+ U. S. recession watch/mortgage-credit crisis: Thornburg Mortgage Inc. received extension from its lenders to raise at least US$948 million in new capital; Goldman Sachs forecasts global credit losses stemming from the current market turmoil will reach US$1.2 trillion, with Wall Street accounting for nearly 40% of losses; Oppenheimer analyst warns of US$6 billion write-down for Merrill Lynch & US$11 billion for UBS this quarter; U.S. Federal government regulators the amount of extra capital government-backed mortgage finance companies, Freddie Mac & Fannie Mae, are required to hold - expected to inject US$200billion+ into the U.S. mortgage-backed securities market
+ Welton Energy Corporation engaged advisors to explore strategic alternatives to realize value for its shareholders
+ Nicole Hoffman to Manager, Accounting @ Kenway Mack Slusarchuk Stewart LLP
+ Randy Luckiw to VP US & Eastern Canada div. @ Norex Exploration Services Inc.
+ Russell Koeniger to Director of Land @ Teton Energy Corporation
+ Stephen Bradley to VP Oil Marketing @ Continental Resources Inc.
+ Steve Godfrey to VP Operations @ Teton Energy Corporation
SAVE THE DATE:
Business Events, Functions etc.
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. 2; Quebec City Real Estate forum in honour of Quebec City's 400th Anniversary, Chaired by Michel Dallaire, Fairmont Chateau Frontenac; info/registration: http://www.realestateforums.com/quebec/frame.html
Apr. 7-8; 3rd Annual Real Esate Insight Information Conference, St. Andrews Club & Confernce Centre, Toronto; info/registration: http://www.insightinfo.com
Apr. 8; Mortgage Loans Association Luncheon; Guest Speaker Cody Clayton, VP Marketing, Remington Development Corp. - Quarry Park, Sheraton Eau Claire Suites, Calgary; info/registe: mlaa-clgy@shaw.ca
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/
Apr. 29; 14th Annual Vancouver Real Estate Forum; Hyatt Regency Hotel, Vancouver, info/registration: http://www.mmpiwest.com/realestateforumswest/vanc ouver/
Apr. 29-30; Buildex Edmonton; Shaw Conference Center, Edmonton, info/registration: http://www.buildexedmonton.com/
May 8; Turning Points Non-Gala Dinner, The Westin, Calgary, in aid of the Calgary Women's Emergency Shelter; info/tickets: http://www.calgarywomensshelter.com
July 7-9 ; 34th G8 Summit, Tokyo, Japan
SAVE THE DATE:
Annual & Special Meetings
Apr. 8;
First Calgary Petroleums Ltd.; Annual & Special Meeting of Shareholders, Calgary
The Dominion Atlantic Railway Company; Annual Meeting, Calgary
Apr. 10; Nav Canada, Annual Meeting of Shareholders, Moncton
Apr. 11; Laurentian Bank of Canada , Annual Meeting of Shareholders, Montreal
Apr. 16;
Co-Operators Life Insurance Company, Annual & Special Meeting of Policyholders & Shareholders, Guelph, Ontario
Co-Operators General Insurance Company, Annual & Special Meeting of Policyholders & Shareholders, Guelph, Ontario
Apr. 22;
Canadian National Railway Company, Annual Meeting of Shareholders, Chicago
Encana Corporation, Annual and Special Meeting, Toronto
TransAlta Corporation, Annual and Special Meeting of Shareholders, Edmonton
April 24; Tanganyika Oil Company Ltd. , Annual General Meeting, Calgary
April 29; Calgary Chamber of Commerce , Annual General Meeting, Calgary
April 30; Emera Incorporated, Annual General Meeting, Halifax
May 5
Enbridge Income Fund, Annual Meeting of Unitholders, Calgary
W&T Offshore, Inc. , Annual Meeting of Shareholders, Houston
Enerplus Resources Fund, Annual General and Special Meeting , Calgary
May 9; Dominion Resources Inc., Annual Meeting, Chicago, Illinois
May 22; First Capital Realty Inc., Annual General Meeting, Toronto
SAVE THE DATE:
2008 Charity & Industry Golf Tournaments
May 29-30, 9th Annual AMBA/MLAA Spring Golf Classic, Mortgage Loans Association of Alberta (Edmonton Chapter) & the Alberta Mortgage Brokers' Assn., Industry Night and Golf Tournament; proceeds to Habitat for Humanity, The Links, Spruce Grove; info/registration: james.robertson@firstnational.ca
June 12; 6th Annual Coast Hotels & Resorts Golf Classic , Westwood Plateau Golf & Country Club, Coquitlam, BC; in support of Coast Athletic Assistance Program; info/resiter: m.hope@coasthotels.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
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
+ Earth Hour: on Saturday March 29 @8PM, Calgary businesses & residents dimmed or turned off non- essential lights as part of a worldwide 'statement'. This year 15 countries & 60+ Canadian cities signed on as part of the 2nd annual campaign to raise awareness about climate change. In Calgary, the Petro-Canada Centre, Bankers Hall & the Calgary Tower switched off their lights when the clock struck 8 p.m., leaving downtown's skyline uncharacteriscally dim. ENMAX figures indicate energy consumption increased from 1,050 megawatts at 7:45 p.m. to a peak of 1,060 megawatts 30 minutes later (compared with a range of 976 megawatts to 1,023 megawatts at the same times the previous Saturday) so it is questionable whether energy was saved though, unquestionably, awareness was raised among journalists across the country
+ when schools become surplus there is a pecking order before they go on the market; following the opening of Radisson Park School, the Calgary Board of Education had two predecessor schools to dispose of - Albert Park & David. D. Oughton Schools; the City of Calgary picked up the David D. Oughton school property for $5.8 million (likely to become a housing project) so the Albert Park School property has been put on the market - bids close May 2
+ Goldman, Sachs & Co has joined them now as a founding member; The Green Exchange initiative was introduced by the New York Mercantile Exchange, with Evolution Markets, Morgan Stanley, Credit Suisse, JPMorgan, Merrill Lynch, Tudor Investment, Constellation Energy, Vitol and RNK Capital. The new exchange will offer a comprehensive range of environmental futures, options and swap contracts for markets focused on solutions to climate change, renewable energy and other environmental challenges.
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
"Every man is afraid of something. That's how you know he's in love with you; when he is afraid of losing you." - unknown
"Many of us crucify ourselves between two thieves - regret for the past and fear of the future." - Fulton Oursler
"What we seek we shall find; what we flee from flees from us." - Ralph Waldo Emerson
"Courage is not the absence of fear, but rather the judgment that something else is more important than fear." - Ambrose Redmoon
"Nothing in life is to be feared. It is only to be understood." - Marie Curie
"Fear is a darkroom where negatives develop." - unknown
"That which does not serve to connect us, serves to divide us - life as we know it, dream it, wish it, love it or hate it is subject to change without notice; the certainty we knew only moments ago might evaporate moments from now; when I put my head around that idea, depending on my mood or emotional state at the time, I travel in a heartbeat from fright to euphoria - like they are towns by those names; I prefer to live between them." - Mark Kolke
"The writer who loses his self-doubt, who gives way as he grows old to a sudden euphoria, to prolixity, should stop writing immediately: the time has come for him to lay aside his pen." - Sidonie Gabrielle
"That's the difference between me and the rest of the world! Happiness isn't good enough for me! I demand euphoria!" - Bill Watterson
"Golf is the closest game to the game we call life. You get bad breaks from good shots; you get good breaks from bad shots - but you have to play the ball where it lies." - Bobby Jones
Please advise all your senior friends of these important rule changes for Seniors:
Rule 1.a.5: A ball sliced or hooked into the rough shall be lifted and placed on the fairway at a point equal to the distance it carried or rolled into the rough with no penalty. The senior should not be penalized for uncontrollable mechanical phenomena
Rule 2.d.6 (b): A ball hitting a tree shall be deemed not to have hit the tree. This is simply bad luck and luck has no place in a scientific game. The player must estimate the distance the ball would have travelled if it had not hit the tree and play the ball from there
Rule 3.b.3 (g): There shall be no such thing as a lost ball. The missing ball is on or near the course and will eventually be found and pocketed by someone else, making it a stolen ball. The player is not to compound the felony by charging him or herself with a penalty
Rule 4.c.7 (h): If a putt passes over a hole without dropping, it is deemed to have dropped. The law of gravity supersedes the law of golf
Rule 6.a.9 (k): There is no penalty for so called "out of bounds". If penny-pinching golf club owners bought sufficient land, this would not occur. The golfer deserves an apology, not a penalty
Rule 7.g.15 (z): There is no penalty for a ball in a water hazard, as golf balls should float. That they do not is a technical problem that manufacturers have to correct. Senior Golfers should not be punished for manufacturer's shortcomings.
Rule 8.k.9 (s): Advertisements claim that golf scores can be improved by purchasing new clubs, balls, shoes etc. Since this is financially impractical for the average Senior Golfer, 1/2 a stroke per hole may be subtracted for using old equipment.
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 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.
+ 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 April 2
+ 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 April 10, 7PM http://mvpadvanced.freetoasthost.net
FACILITYCalgary, a MaxComm Communications publication, e-published every Monday. Subscription is free. To subscribe, write to: facilitycalgary@maxcomm.ca
+ twice in less than 6 months the A.D. Williams Engineering group have lost a CEO & CFO in a plane crash; their bad fortune and Edmonton's loss is unfathomable; our sympathy to the families of the 5 who lost their life last week: Reagan Williams, Phil Allard, Rhonda Quirke, Shaun Stewart & Trevor Korol
+ I've mentioned here before - my view - that the very bandits who created the sub-prime crisis will maneuver to bleed everyone they can once the door swings the other way; case in point, former execs at Countrywide formed a new firm to buy & resell distressed mortgages via Private National Mortgage Acceptance Company LLC, joining a host of emerging vulture funds; I don't wish for gloom & doom, but there would be some perverse satisfaction in seeing vultures get their wings clipped . . but I'd be just as happy if some of them spent some time living the very problem they created; while Canadian impact from the sub-prime crisis remains debatable, I expect to see a growing number of foreclosure actions in Ontario & BC by summer 2008, while Alberta seems to be holding steady . . for now, but not for long
+ Canada's ABCP (asset backed commercial paper) crisis has shifted gears, next steps are the Purdy Crawford cross-country road show to pacify investors & media across the country that the best that can be done for them is being done for them & they better be happy about it; the conversion of short term investments to long term ones, the loss of value still not clear, the ongoing risk & cost of realization is really fuzzy - it seems the only objectives being met are 'educating investors to read the fine print' & diversion of attention from regulators who let the ABCP mavens work the trapeze without a net
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