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AB Economic Fundamentals 2008-10

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    What`s Behind the Curtain?
    Alberta
    2008-10
    Daily Online Edition
    AB Economic Fundamentals 2008-10

    The following codes will be at the top of each post using an eight sequence alphanumeric description of the month, year and area:



    MMYYAREA


    Examples

    1008ALTA = Oct 08 Alberta

    sizeo-->1008CALG = Oct 08 Calgary

    1008EDTN = Oct 08 Edmonton

    1008REDR = Oct 08 Red Deer and surrounding areas.


    If you wish to view only one area, you can use the advanced search mode and select the "Result Type" > "Show results as posts".

    I have also color coded each area along with the caption to make it easier for you to simply scroll through the posts and locate the ones you are interested in.

    All the small towns that have online newspapers are covered on Sundays.
     
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    1008EDTN
    City`s investments `weathering storm`

    The City of Edmonton`s finances won`t be seriously affected by financial turmoil on world markets, finance officials say.

    Investment earnings anticipated for 2009 could be affected by as much as $4 million, chief financial officer and treasurer Craig Warnock said Tuesday.

    http://www.canada.com/edmontonjournal/news...a6-edc9753a2245
     
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    1008EDTN
    New centre promises dinner, bowling, drinks and movies under one roof


    EDMONTON - Dinner, bowling, drinks and a movie used to mean running all over town.

    Edmontonians may soon get to do it all under one roof.

    Cineplex Entertainment announced Tuesday plans to build an entertainment centre in southwest Edmonton that features adults-only auditoriums where moviegoers can eat hot food or have a drink before the show, six lanes of bowling, a licensed lounge and digital 3-D screens.

    http://www.canada.com/edmontonjournal/news...59-7100ebb1b8b1
     
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    1008ALTA
    Oil expert sees bright future

    HOUSTON -- Despite the recent fall in crude prices and a global economic crisis that could further curtail energy demand, the head of the world`s biggest oilfield services company says increased global exploration and other factors bode well for long-term business.

    Save for a severe global recession, industry experts also foresee brisk spending on exploration and production - which means big business for major service companies like Schlumberger Ltd., Halliburton Co. and Weatherford International Ltd.

    http://www.edmontonsun.com/Business/News/2...937656-sun.html
     
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    1008CALG
    Native housing to be razed

    Two years after asbestos concerns triggered an exodus from Black Bear Crossing, Tsuu T`ina band officials say it`s time to say a last goodbye to the dilapidated housing.

    The complex on the northeast corner of the reserve has been green-lighted for demolition, according to special projects manager Peter Manywounds.

    A cluster of residents who straggled back to the units since the October 2006 evacuation has until today to pack their bags.

    http://www.canada.com/calgaryherald/news/c...73-db99f9b12048
     
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    1008ALTA
    Alberta leads slide in housing

    Alberta led all provinces in Canada with the biggest decrease in the average sale price for an existing home in August compared with a year ago, according to the Canadian Real Estate Association.

    Statistics released Tuesday by the association show the average MLS sale price in Alberta dipped by 5.2 per cent to $343,148. The only other province experiencing a year-over-year price decline was British Columbia at 4.1 per cent to $421,685. At the national level, prices in August dropped by 4.6 per cent from a year ago to $290,347.

    http://www.canada.com/calgaryherald/news/c...fe-4f20cccf4f06
     
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    1008CALG
    Mayor pushing taxation solution



    Calgary taxpayers could be on the hook for double-digit tax increases in coming years unless the province cuts the cord with its largest city and stops claiming millions in annual property taxes, Mayor Dave Bronconnier says.

    And in return, he`s willing to give back billions in provincial infrastructure dollars to make it happen. In a luncheon speech before the Downtown Rotary Club yesterday, Bronconnier said as the city struggles to pare down a massive tax increase this fall, most of the funding problems that plague Calgary could be solved if the province relinquished its stranglehold on half of the city`s property taxes.

    http://calsun.canoe.ca/News/Alberta/2008/1...938421-sun.html
     
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    1008REDR
    Shopping centre finding tenants for former Convergys Corp.`s site

    The roster of stores at Bower Place Shopping Centre continues to grow, as the mall finds tenants for the space vacated by Convergys Corp.`s call centre in June.

    Mall manager Gary Seher confirmed on Tuesday that women`s clothing store Sirens, travel agency Flight Centre, Sunglass Hut and plush animal retailer Bears and Wishes have all committed to setting up shop in the vacant area.

    http://www.albertalocalnews.com/reddeeradv...Corps_site.html
     
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    1008ALTA
    Oil sands safe from U.S. law, advocates say

    U.S. environmentalists have declared another victory in their efforts to protect legislation that threatens Canada`s booming oil sands, but oil sands advocates say there is no triumph to celebrate.

    The legislation in question bans the U.S. government and its agencies from buying alternative fuels that produce more greenhouse gases than conventional fuels.

    Environmentalists have argued vociferously that this includes fuel refined from oil from the oil sands, or tar sands, as they call them.

    http://www.theglobeandmail.com/servlet/sto...ory/Environment
     
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    1008EDTN
    Southwest development puts us on par with Newark, Jacksonville


    I peek inside one of the show homes in Windermere North, a new community in Edmonton`s deep southwest. The furniture is elegant, the appliances are sexy, and sunlight shimmers on the dark wooden floors. Even through the door I can smell the off-gassing of success.

    The beeps and growls and roars of progress are everywhere in this subdivision. Behind the show home, two men drench saplings and pump water into what will be, according to a series of signs, a "naturalized pond." A blessedly warm, unencumbered wind blows dust across the neighbourhood-in-progress. The West Edmonton Mall skyline is visible in the distance.

    http://www.canada.com/edmontonjournal/news...f2-186276237276
     
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    1008CALG
    Mortgage defaults on the increase


    For years, bankruptcy trustees and credit counsellors in Calgary haven`t had enough work.

    But in the past couple of months, the workload has picked up as some Calgarians fall behind on their mounting debts and mortgage payments.

    "We are seeing people now who are going into bankruptcy, walking away from properties that in the last . . . four years in Calgary has been very, very, very rare," said David Smith, a trustee in bankruptcy at Bromwich & Smith Inc. "Now it`s becoming more common

    http://www.canada.com/calgaryherald/news/c...41-2735e2009cc1
     
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    1008ALTA
    Alberta team targets doctors at U.K. career fairs


    In the face of a severe physician shortage, an Alberta delegation of government officials and medical groups travelled Wednesday to the United Kingdom, where they will attempt to lure British doctors to work in this province.

    Representatives from Alberta Employment, the Alberta Rural Physician Action Plan and the College of Physicians and Surgeons will attend medical job fairs in London and Birmingham, England.

    The officials will attempt to sell the doctors on the province as an attractive place to live, with a good outdoor lifestyle and "wide open spaces."

    http://www.canada.com/calgaryherald/news/c...6a-b537dd1dc30e
     
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    1008CALG
    Home-price slide in double digits


    Median sale prices for single-family homes in Calgary have plunged in the range of $45,000 to $66,000 in September from their peaks just over a year ago.

    Data from Calgary realtors Gary and Mike MacLean, of Re/Max Real Estate Central, also show the median sale price for a Calgary condominium has plummeted by $44,000 from its peak.

    http://www.canada.com/calgaryherald/news/c...72-da0b07708ecc
     
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    1008CALG
    Duke of Westminster to tour Calgary properties


    Next week, one of England`s biggest landowners, the Duke of Westminster, will visit Calgary. As chairman of Grosvenor Trusts, he will attend a reception hosted by Bill Abelmann, CEO of Grosvenor Americas, and spend time with James Patillo, senior vice-president and general manager of Grosvenor`s Calgary office, and his staff.

    An international group of property businesses, Grosvenor has regional investment and development interests in Britain and Ireland, the Americas, continental Europe, Australia and Asia-Pacific, but only operates in eight markets in North America from offices in Washington, D.C., San Francisco, Vancouver and Calgary.

    http://www.canada.com/calgaryherald/news/c...0f-a18041ff33cf
     
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    1008REDR
    Property manager stole from clients


    The former operator of a property management firm will be sentenced just before Christmas after pleading guilty on Wednesday to stealing tens of thousands of dollars from clients.

    Ted Randall Stinson, 49, of Red Deer pleaded guilty to 16 theft charges including 10 counts of theft of more than $5,000 and six counts of theft of less than $5,000.

    Stinson didn`t utter a word as his lawyer Glyn Walters entered the pleas in Red Deer provincial court.

    The pleas follow several weeks of negotiations between the Crown and Walters.

    http://www.albertalocalnews.com/reddeeradv...om_clients.html
     
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    1008REDR
    Construction values down for all types except public projects in Red Deer


    The value of building permits issued by the City of Red Deer last month exceeded the tally for the corresponding month in 2007 — the first time that this has happened since April.

    However, the $23-million RCMP detachment building being constructed downtown accounted for nearly two-thirds of the September total.

    The city approved $35.5 million worth of construction last month, up from $20.1 million in September 2007.

    http://www.albertalocalnews.com/reddeeradv...n_Red_Deer.html
     
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    1008EDTN

    Edmonton House prices for September 2008

    The median
    price of a Single Family Dwelling in Sept 2008 of $345.5K is:
    - down $7.5K (2.1%) from the Aug 2008 price of $353K
    - down 7.9% from the September 2007 price $375K
    - down 13.6% from the peak price of $400K in May 2007

    Last year the price dropped by $5K from Aug to Sept, so this could be mainly seasonal variation.

    http://www.ereb.com/MarketActivity/October.html
     
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    1008ALTA
    B.C. tenant wins video-camera case


    VANCOUVER - In what could be the first case of its kind in Canada, a Vancouver woman has been awarded damages for breach of privacy after her landlord installed a video surveillance camera outside the door of her apartment.

    http://www.canada.com/edmontonjournal/news...cc-f6ba1be13437
     
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    1008ALTA
    Alaskan pipeline project still a go


    TORONTO - TransCanada Corp said Thursday the slide in natural gas prices does not dampen the outlook for its proposed Alaska gas pipeline, which would deliver natural gas to U.S. markets from Alaska`s North Slope.

    TransCanada Chief Executive Hal Kvisle told reporters after a Toronto speech that natural gas prices often hit their lowest level of the year around September and October before turning around during the winter months.

    http://www.canada.com/edmontonjournal/news...a8-596a3bab46f9
     
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    1008ALTA
    Leaders criticize Alberta, oilsands.

    Conservative Leader Stephen Harper took pains Thursday to stress he has his own tough approach to the oilsands` growing carbon emissions, as opposition leaders pelted the Tories` climate-change plan and called it toothless.

    "Let me just be clear about how we`re going to deal with the tarsands," Harper said, using a term for the resource more commonly used by critics of the oilsands.

    http://www.canada.com/calgaryherald/news/s...3e-83b606fdf15a
     

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