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AB Economic Fundamentals 2008-11

joeiannuzzi

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1108ALTA
Risk-free pipeline projects make sense


In the midst of the market mayhem, something surprising happened last week; two Calgary-based pipeline companies raised almost $2 billion from the debt and equity markets.

First out of the blocks was TransCanada Pipelines, tapping the public equity markets for a total take of $1 billion priced at $33 per share. The shares closed Monday at $32.22, up 27 cents.

http://www.canada.com/calgaryherald/news/c...10-a24740a8f9f5
 

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Royalty hike leaves oil juniors reeling


Increases to Alberta oil and gas royalties are the "dumbestthing"he`sever seen, investment manager Joseph Schachter declared Monday, earning a resounding round of applause and summing up the prevailing opinion at a Calgary junior oil and gas investor forum.

The key note speaker got polite applause from a standing-room-only crowd at the Small Explorers and Producers Association of Canada investor showcase fo rhis forecast that oil and gas prices will recover to record levels in the next two years.

http://www.canada.com/calgaryherald/news/c...08-9e0033a9dc3f
 

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Alberta exports to slow after `torrid` growth

Alberta`s international exports are expected to decline by eight per cent in 2009 following "torrid" 24 per cent growth in 2008, according to a provincial export outlook by Export Development Canada.

Falling energy and chemicals exports will lead to the decline, the first overall decline since 2002, said Peter Hall, vice-president and chief economist of the EDC.

http://www.canada.com/calgaryherald/news/c...7c-0bbf626cffd4
 

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1108CALG
Businesses shred filing fees


The city might be facing either legal action or a closer look from the province after imposing heavy new fees for businesses looking to appeal their property taxes. A coalition of Calgary-based business organizations will meet today to discuss council`s decision last week to increase filing fees to 1% of the previous year`s property assessment with a cap of $5,000, which was proposed during budget deliberations to keep costs from soaring too high.

http://calsun.canoe.ca/News/Alberta/2008/1...525556-sun.html
 

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1108REDR
Big changes possible

Planning is underway to make sweeping changes to the downtown over the next several decades so it becomes more of an around-the-clock destination.

A hotel and convention centre, an expanded City Hall and civic square, and a glass-enclosed building are proposed. High-density housing, plus more trails and pedestrian-friendly streets are also being considered.

http://www.albertalocalnews.com/reddeeradv...s_possible.html
 

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1108EDTN
Rec centre`s price tag soars

The cost of completing the southwest recreation complex with an arena has climbed $8 million following last spring`s decision to put the skating area on hold because the project was too expensive.

Last April, the city ended unsuccessful negotiations to make the facility a private-public partnership and approved a $106.3-million budget to build the rec centre and design a four-rink arena.

http://www.canada.com/edmontonjournal/news...5e-82bb86a10942
 

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1108CALG
Property tax hikes lag other levies, study finds


A little more than a week after public outrage over property tax hikes spilled into City Hall, a new study says property taxes have climbed more slowly than virtually every other Canadian tax. Of every single new tax dollar Calgarians have had to pay from 1990 to last year, only about four cents went to municipal taxes, according to a study released Tuesday by the Canada West Foundation.

http://www.canada.com/calgaryherald/news/c...53-381adc74dbf9
 

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1108CALG
Downturn will slow office space demand


Demand for office space in Calgary will ease in 2009 asaresultoftheeconomic downturn, says a new report released Tuesday by Cushman & Wakefield LePage.

In its Outlook `09 Annual Market Review, the real estate firm said the drop in the price of oil and the corresponding slowing of business activity in the Calgary market will lead to reduced demand for office space.

http://www.canada.com/calgaryherald/news/c...a1-9d7c211d4d40
 

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Enmax skeptical of power line proposal


Two of Alberta`s most influential power players continue to butt heads over the future of a controversial 500-kilovolt transmission line that would stretch from Edmonton to Calgary.

The discussion isn`t over whether new lines are needed to relieve congestion on an aging power grid, says Gary Holden, chief executive of Calgary utility Enmax.

http://www.canada.com/calgaryherald/news/c...82-843425a5bba9
 

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1108ALTA
Resource plan coming next month


Alberta will be releasing a long-awaited energy strategy next month providing guidelines covering almost all aspects of resource development, Energy Minister Mel Knight said Tuesday in a surprise announcement.

The minister said the document, a first for the Conservative government, will address clean energy, conservation, and sustainability.

http://www.canada.com/calgaryherald/news/c...15-7fdb16a9b42f
 

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1108REDR
Storefront upgrades to be considered


Sylvan Lake town council may eventually put money towards improving storefronts downtown.

No dollar amounts were outlined for the Facade Improvement Initiative at Monday`s council meeting.

Kim Starzyk, a planner with the Town of Sylvan Lake, said if it moves forward, the initiative would offer a matching grant to downtown businesses, with costs shared between the city and local businesses. She said the improvements could involve painting and installing new windows, awnings or signage.

http://www.albertalocalnews.com/reddeeradv...considered.html
 

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Large residential development takes shape on west side of Olds


The first component of a large residential development on the west side of Olds is taking shape.

A 36-unit apartment condominium there is nearly enclosed, with completion and occupation expected by the late spring, said Brian Honeywell of Olds-based Leaside Development.

http://www.albertalocalnews.com/reddeeradv...de_of_Olds.html
 

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Lacombe County reviews land-use regulations for agricultural land


Growing concerns by Lacombe County residents about industrial and commercial operations springing up in agricultural areas have prompted a review of land-use regulations.

"It`s pretty open-ended when it comes to industrial/commercial developments in agricultural areas," Allan Williams, the county`s manager of planning services, told county council recently. "The question is, do you want to change things?"

http://www.albertalocalnews.com/reddeeradv...tural_land.html
 

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1108EDTN
Event shines reel light on gritty, urban area


On a weekday night on Stony Plain Road, the cool air is filled with the scents of fried chicken, cigarettes and exhaust. A couple and their three children wait to cross 151st Street, the father carrying a small black television set. The smallest of the children, a boy, drops a Coke can on the sidewalk and kicks it and whoops.

Other than the family, the only pedestrian on the block is a large gentleman in a leather jacket and a black watch cap, pacing. Every few steps, he opens his mouth and roars like a gorilla.

http://www.canada.com/edmontonjournal/news...ba-0f956a3086f2
 

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Unease intensifies in Upgrader Alley


EDMONTON - Petro-Canada`s intention to consider buying into the U.S. refining sector has sent a chill of up the spine of municipalities in Upgrader Alley near Fort Saskatchewan.

"It has just confirmed a lot of the suspicions we had that every project out there will look at the economics," said Neil Shelly, executive director of Alberta`s Industrial Heartland, a municipal government-based development planning group.

http://www.canada.com/edmontonjournal/news...1e-b3f9a5f65889
 

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Housing slump improves affordability


OTTAWA - The recent fall in housing prices in Canada has made home ownership more affordable, especially in Western Canada, and broad-based cuts to mortgage rates announced Wednesday will make it even more affordable.

Desjardins Group reported that its index of Canadian housing affordability is "slowly but surely inching its way" back up to its historic average.

http://www.canada.com/edmontonjournal/news...ac-e98467ab48f8
 

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Peace River project shelved by Shell


Royal Dutch Shell has put on hold another multibillion-dollar Alberta oilsands project, the second in a month, as it struggles with low commodity prices and increasing Alberta construction costs.

A spokeswoman with subsidiary Shell Canada Ltd. confirmed Wednesday the company has withdrawn its application for regulatory approval of the 100,000-barrel-per-day Carmon Creek in-situ oilsands project planned for 40 kilometres northeast of Peace River because it would not be economic as envisioned.

http://www.canada.com/calgaryherald/news/c...90-d2b717a9659d
 

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1108CALG
Cost sharing may halt rail plan


A vision of trains and express buses linking Calgary to neighbouring towns and cities could be derailed if the province expects local governments to pay a hefty share for building a transit network, the region`s mayors are warning.

The Calgary Regional Partnership has been crafting a proposal for the $2-billion transit fund the Stelmach government announced this summer.

http://www.canada.com/calgaryherald/news/c...2d-73f37bef1465
 

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Airport can ride out economic storm

The Calgary Airport Authority is well-positioned to ride out the current economic storm, having just come off a building blitz that`s left the Calgary International Airport in good condition and with enough capacity to allow opportunities for new carriers to come on board.

As such, no major facility expansion decisions for the Calgary International will be required over the next two to three years, the Authority said in its Strategic Operating Plan released Wednesday.

http://www.canada.com/calgaryherald/news/c...f9-8b39b7f4edab
 

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Commercial property sales value rises 4%


Commercial real estate sales in Calgary in the first three quarters of this year totalled just over $2.9 billion, up $118 million, or four per cent, from the same 40-week period in 2007, says a report by Avison Young.

The Fall 2008 Calgary Investment Review said there were 196 transactions for all six asset classes for the first ninemonthsof2008,compared with 296 sales a year ago and $2.8 billion in value over the same period.

http://www.canada.com/calgaryherald/news/c...f9-17cbe0adeb96
 
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