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 - Monday, May 26, 2008
+ after a 422-million-mile flight from Earth to Mars (launched Aug. 4, 2007), NASA's Phoenix spacecraft landed in the northern polar region of Mars [the first successful Mars landing without airbags since Viking 2 in 1976]; more info @ http://www.nasa.gov/phoenix
+ Asian stocks fell for 5th day as rising oil prices sparked concern higher costs will reduce consumer spending & erode profits.
+ Canadian banks announce 2nd qtr results this week; continued losses & write-downs due to U.S. sub-prime exposure expected from all except TD . . stay tuned
+ Chinese earthquake toll now estimated as 65,080 dead, 360,058 injured & 23,150 still missing as aftershocks continue
+ crude oil futures @ 6:25AM, MDT May 26 as quoted by Bloomberg.com ; Nymex Crude Future US$133.22/barrel, Dated Brent Spot US$131.09/barrel, WTI Cushing Spot US$131.59(Fri. close)/barrel; futures trading spiked on supply concerns (eg: December 2016 /US$142/barrel) as oil hit record highs last week; current prices up on supply concerns & Nigerian rebel attacks on a pipeline together with a weaker USdollar which triggered stock market's worst week in 3 months as worries about high oil prices hammered energy- sensitive sectors leaving investors on edge about inflation; likely to continue this week on speculation supply disruptions, falling U.S. dollar & further Nigerian unrest/blast at a Shell refinery may sustain investor demand for oil
+ High River faces high water as Highwood River gets too high; Okotoks is also facing flood damage as southern Alberta rivers swollen from deluge of rain threaten damage; Bow & Elbow rivers are also high, being watched closely by officials with sandbagging in low areas has been done as a pro-active measure
+ Memorial Day Holiday in United States
+ Microsoft Corporation resumed talks with Yahoo! Inc. in effort to acquire search services to aid its competitive battle with Google
+ the US dollar trading near a one-month low against the euro on speculation U.S. reports tomorrow will show a slump in home prices accelerated; consumers most pessimistic in at least 15 years
+ Phil Mickelson shot a 14-under 266 to win the PGA Crowne Plaza Invitational at Colonial http://www.CrownePlazaInvitational.com at the Colonial Country Club, Fort Worth, Texas, winner's share of the purse $1,098,000
+ BCE leveraged buyout in choppy water - court ruling sided with company's bondholders & threatens to scuttle the BCE buyout; Quebec Court of Appeal issued a judgment rejecting the plan of arrangement as bondholders allege the buyout by the Ontario Teachers' Pension Plan & its U.S. private-equity partners is unfair to them - the issue is headed to the Supreme Court of Canada with a decision expected by mid July
+ Boston Properties Inc. acquiring marquee Manhattan properties from Macklowe Properties - General Motors Building, 540 Madison Avenue, 125 West 55th Street & Two Grand Central Tower for US$3.949 billion
+ Candover Partners Ltd. raised a takeover bid for U.K. oilfield-services provider Expro International Group Plc by 8% to US$3.4 billion, topping an offer from Halliburton Co.
+ Halliburton Co. offerd US$3.4 billion for takeover of Expro International Group Plc.
+ North American Gem Inc. adopted a shareholder rights plan
+ Northwest Pipeline GP closed ,US$250 million debt financing
+ Oilsands Quest Inc. closed US$54.5 million equity financing
+ Pacific Energy Resources Ltd. agreed to sell 100% of its onshore California producing assets for US$135 million
+ Pacific Ethanol Inc. closed US$34.25million equity financing
+ Penn West Energy Trust agreed to take over of Endev Energy Inc. in a units-for-shares deal, $170 million
+ Plains Exploration & Production Company closed US$400 million debt financing
+ Staubach Co. in merger talks with Jones Lang LaSalle
+ SUEZ Energy North America acquired 30.45% equity interest in 575-megawatt (MW) Astoria Energy Power Plant from SCS Energy
+ Talisman Energy Inc. announced a new corporate strategy
+ Transcontinental Gas Pipe Line Corp., closed US$250 million debt financing
+ U.S. / Europe recession watch: Warren Buffett, in an interview published by Germany's Der Spiegel weekly , asked whether he thinks the U.S. could still avoid a recession, said it is already here: "I believe that we are already in a recession. Perhaps not in the sense as defined by economists. But people are already feeling the effects of a recession. It will be deeper and longer than what many think."; UBS AG, the European bank hardest hit by U.S. subprime woes says losses on non-U.S. residential & commercial real-estate securities could increase in the future & result in a charge to income
+ Williams closed acquisition of US$285 milllion of Piceance Basin assets from SandRidge Energy
SHAKERS + Movers on the Move
+ Alex Graham, Pres. & CEO @ Tourism Calgary resigned
+ Brenda Kenny to Pres @ Canadian Energy Pipeline Association
+ Caroline Abougoush to Regional Manager - Real Estate Marketing, Prairies @ Canadian Pacific Railway
+ David Weinkauf to VP Development & Leasing @ Centron Group of Companies
+ Deena Carstens to Director, Marketing & Communications @ Houston Technology Center
+ Diana Zortea to Pres. @ BOMA Canada
+ Dick Fletcher to Pres. @ Engineers Canada
+ Doug Lomow to Project Mgr./Estimator @ Mesken Contracting Limited
+ Jason Hails to Energy & Utilities Consulting Leader @ Meyers Norris Penny LLP
+ John Zahary, Pres. & CEO Harvest Energy Trust to Board Chair @ Frog Lake Energy Resource Corporation
+ Julian Thornton to Managing Director for Australian Operations @ Peabody Energy
+ Kelly Maguire to VP Finance & CFO @ Biofuel Energy Corp.
+ Pierre Alvarex, Pres. @ Canadian Association of Petroleum Producers, is stepping down
+ Robert Furlan to VP Energy Supply Services @ Enwave Energy Corporation
+ Robert Gabbard to Sr. VP Trading @ PPL EnergyPlus
+ Steven Mueller tp Pres. & COO @ Southwestern Energy Company
+ Wayne Benz to Pres, Construction Group @ Centron Group of Companies
SAVE THE DATE:
Business Events, Functions etc.
May 27; The Land & Development Conference, Metro Toronto Convention Centre, South Bldg, Toronto; info/registration: http://www.realestateforums.com/LandConference/ind ex.html
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
SAVE THE DATE:
Annual & Special Meetings
May 27;
Pegasus Oil & Gas Inc, Annual Meeting, Calgary
Quest Capital Corp., Annual & Special General Meeting, Toronto
May 28; TerraVest Income Fund, Annual Meeting of Unitholders, Edmonton
May 30; Patch International Inc., Special Meeting of Stockholders, Calgary
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 30; ACE Aviation Holdings Inc., Annual Meeting of Shareholders, Montreal
SAVE THE DATE:
2008 Charity & Industry Golf Tournaments
May 29, The 15th Annual "IFMA OPEN" , IFMA Calgary Chapter , Calgary Elks Lodge & Golf Club, info/register: info@ifmacalgary.org
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 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
+ West Fraser & EPCOR are working together to explore the potential of a biomass fueled 50-70 megawatt power generation facility in the area of Houston, BC
+ Partnerships BC is going forward with its plans for a P3 solution for the proposed Surrey Outpatient Hospital; BC Healthcare Solutions was selected as the company the Province will enter into negotiations with to design, build, finance & maintain the new facility; details at: http://www.partnershipsbc.ca/pdf/SOF_News- Release_052308.pdf
+ the Alberta government released a draft framework to improve land-use planning and decision-making in Alberta following 18 months of consultation with stakeholders/public
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
"We shall not cease from exploration and the end of all our exploring will be to arrive where we started... and know the place for the first time." T.S. Eliot
"I prefer to explore the most intimate moments, the smaller, crystallized details we all hinge our lives on." - Rita Dove
"Everybody who is incapable of learning has taken to teaching." - Oscar Wilde
"Experience: that most brutal of teachers. But you learn, my God do you learn." - C.S. Lewis
"If you hold a cat by the tail you learn things you cannot learn any other way." - Mark Twain
"Live as if you were to die tomorrow. Learn as if you were to live forever." - Mahatma Gandhi
"While we teach, we learn." - Seneca
"Just out of sight or beneath the surface or just out of reach where truth waits to be uncovered, fertile territory wanting exploration, ideas beg cultivation - like a gold nugget waiting to be washed out of ten tons of gravel. Curiosity, awesome volumes of learning there for the asking, the looking, the feeling. OK, I have to ask nicely, repeatedly, softly, slowly sometimes." - Mark Kolke - Mark Kolke
"I've been making a list of the things they don't teach you at school. They don't teach you how to love somebody. They don't teach you how to be famous. They don't teach you how to be rich or how to be poor. They don't teach you how to walk away from someone you don't love any longer. They don't teach you how to know what's going on in someone else's mind. They don't teach you what to say to someone who's dying. They don't teach you anything worth knowing." - Neil Gaiman
"A man only learns in two ways, one by reading, and the other by association with smarter people." - Will Rogers
"They say 'practice" makes perfect.' Of course, it doesn't. For the vast majority of golfers it merely consolidates imperfection." - Henry Longhurst
"Golf is a game in which the slowest people in the world are those in front of you, and the fastest are those behind." - unknown
"A 'gimme' can best be defined as an agreement between two golfers ... neither of whom can putt very well." - unknown
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
+ 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 May 28
+ 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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+ a lot of people ask me, in view of what is happening in U.S. real estate markets in the wake of mortgage/credit crisis times, what will happen to local real estate prices in terms of housing as well as commercial real estate; I've been predicting a correction for nearly a year and, it would seem, it is finally happening on the residential side with prices off for the first time in 12 years in Calgary - inventory of houses available for sale in Calgary and Edmonton have skewed the picture for the moment but I expect, by fall, that the cost of re-sale homes will recede to compete very effectively with new homes. New home builders & condo developers cannot endlessly offer incentives to buyers given run-ups in every cost they face. Locally, I think buying opportunities will best in Oct-Dec.
+ housing (and commercial real estate following) in many U.S. markets continue to slump badly; spiking gasoline prices and air-fares will pour plenty of salt on wounds sending prices lower in Florida, Arizona and California this summer with further slumping this fall; the snow-bird factor may turn some popular markets like Phoenix, Palm Springs, Florida and Hawaii on their ear this fall/winter as sellers will substantially outnumber buyers . . so I expect we will see a further collapse in prices
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