BC Economic Fundamentals 2008-12

[joeiannuzzi]

What`s Behind the Curtain?
B.C.
2008-12
Daily Online Edition


BC Economic Fundamentals 2008-12



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

MMYYAREA

New Roman-->Examples

1208BCBC = Dec 08 British Columbia

1208VANC = Dec 08 Vancouver

1208VICT = Dec 08 Victoria

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.

 

[joeiannuzzi]

1208VANC
Spirit Trail to link Horseshoe Bay to Deep Cove

I have some good news for a change, at least for those who live on Vancouver`s rainy North Shore or who love to visit it. West Vancouver transportation director Ray Fung tells me that construction should start "in the next week or so" on the first small section of the new Spirit Trail, a walking/bicycling/inline-skating path slated to run some 35 kilometres from Horseshoe Bay to Deep Cove.

http://www.canada.com/theprovince/news/sto...56-9eaef8dc6e31

 

[joeiannuzzi]

1208VANC
Floating hotels mulled for Games

The cities of North Vancouver and New Westminster are working on deals to moor large "floating hotel" cruise ships on their waterfronts for the 2010 Winter Games.

North Vancouver City Mayor Darrell Mussatto said his municipality has been working for nearly a year on a deal with a company that wants to lease Burrard Drydock pier to moor two ships that could accommodate up to 3,400 tourists.

http://www.vancouversun.com/news/todays-pa...6018/story.html

 

[joeiannuzzi]

1208VICT
November real estate sales hit nine-year low

The global economic meltdown poured over Greater Victoria`s housing market last month as cautious buyers stayed on the sidelines and monthly sales sputtered to a nine-year low.

Victoria Real Estate Board president Tony Joe said yesterday it was becoming quite clear that the uncertain economic climate was having an stifling effect on the market after only 268 homes sold on the Multiple Listing Service in November.

http://www.canada.com/victoriatimescolonis...be-c3d9daaaa8f2

 

[joeiannuzzi]

1208BCBC
Major projects in B.C. worth nearly $175 billion

VANCOUVER -- Developers started work on 31 large projects worth almost $2.4 billion in construction value from July to September, the provincial government reported yesterday in its major projects inventory.

Just prior to the meltdown of world financial markets, proponents piled on another 47 projects worth $5.5 billion, raising the inventory of projects planned and underway to 843 projects worth almost $175 billion.

http://www.canada.com/victoriatimescolonis...f8-37bfa782c766

 

[joeiannuzzi]

1208BCBC
Will coalition shut out B.C.?

An alternative coalition government that is contingent on Bloc Quebecois support is unlikely to fly, says a constitutional expert who has long advised Canada`s governors-general.

Lawyer and political scientist Ted McWhinney says it`s more likely a general election would be called to clear the air on what he sees as a reckless Keystone Kops drama on Parliament Hill.

http://www.vancouversun.com/news/todays-pa...0355/story.html

 

[joeiannuzzi]

1208BCBC
Council of the Haida Nation objects to oil pipeline plans

PRINCE RUPERT -- The Council of the Haida Nation says it has not been consulted about Enbridge Inc.`s plans to build an oil pipeline running from northern Alberta to Kitimat.

CHN representative Robert Davis said the Haida Nation would never accept Enbridge`s plan even if it did consult.

http://www.canada.com/victoriatimescolonis...17-5018a7f12db9

 

[joeiannuzzi]

1208VICT
Airport authority to get new buildings

The Victoria Airport Authority will go ahead with a planned $9.4 million fire hall and maintenance building, despite a downturn in the global economy and forecasts for fewer flyers.

Chief executive Richard Paquette said the 2,252-square facility will house the airport`s three fire trucks and 10-man crew as well as maintenance staff, snow removal machines and other specialized equipment used by airport operations staff.

http://www.canada.com/victoriatimescolonis...7e-da098e893826

 

[joeiannuzzi]

1208VANC
Real estate sales grind to standstill in November

LOWER MAINLAND - The correction in Lower Mainland real estate markets deepened in November, in another month of turbulent economic news that continued to hold buyers at bay.

In Greater Vancouver, realtors saw transactions drop 70 per cent to 874 MLS-registered sales compared with the same month a year ago, according to Real Estate Board of Greater Vancouver statistics released Tuesday.

http://www.vancouversun.com/Homes/Real+est...4779/story.html

 

[joeiannuzzi]

1208BCBC
Council leaked personal business to strata busybody

Dear Condo Smarts: I made an application to my strata council in October for a hardship exemption from the strata rental bylaws. The strata council requested that I provide them with personal financial information as a condition of the application. I agreed, provided them with original documents, and requested a hearing. They have refused my hardship request, and to make matters worse my personal financial information has leaked out to fellow owners in the building.

The council admitted that they had their meeting to decide the application by e-mail, scanned and shared the information in the e-mails. Those e-mails somehow managed to get into the hands of our resident busybody, and now everyone knows my personal business.

Is there anyone who regulates the business of these people?

http://www.timescolonist.com/news/todays-p...5423/story.html

 

[joeiannuzzi]

1208VICT
Real estate forecast grim

Greater Victoria will lead the country in real estate declines next year as both average price and the number of sales tumble -- and buyers wrestle the upper hand from sellers, according to a forecast by Canada`s largest residential real estate company.

The global financial crisis has already slammed the region as sales by the end of this year are expected to sink to 6,500, a 23-per-cent slide from a record peak of 8,403 in 2007.

http://www.timescolonist.com/Homes/Real+es...0219/story.html

 

[joeiannuzzi]

1208BCBC
Climate change `threatens B.C. economy`

VANCOUVER -- Climate change made it easier for the mountain pine beetle to thrive in British Columbia, but logging and fire protection made it impossible for Interior forests to withstand the devastating pest, warns a new report.

Simon Fraser University`s Adaptation to Climate Change Team, or ACT, says in a report released yesterday that fragmented habitat, and "unprecedented" changes in temperature and precipitation threaten B.C.`s economic health and diminish the ability of ecosystems to sustain themselves.

http://www.timescolonist.com/news/todays-p...0226/story.html

 

[joeiannuzzi]

1208BCBC
Perimeter road work approved

The B.C. government has authorized the start of work on the $1-billion South Fraser Perimeter Road even before the agricultural land commission has ruled on a farmland application required for the four-lane highway to proceed.

Construction work on two private sites -- a natural gas pipeline and a farm, both in Delta -- has proceeded with the government`s blessing and agreement to cover the owners` costs.

http://www.vancouversun.com/news/todays-pa...9773/story.html

 

[joeiannuzzi]

1208VICT
Tofino toilet controversy comes to a head

A Victoria developer is determined that a battle over public toilets near Long Beach won`t be his Waterloo.

Chris LeFevre, builder of a new resort at Cox Bay on Long Beach, is in the midst of a scrap with the District of Tofino over new ceramic toilets he has installed in a public washroom at the resort.

http://www.timescolonist.com/news/todays-p...4700/story.html

 

[joeiannuzzi]

1208BCBC
B.C. Ferries drops fuel surcharges

B.C. Ferries will lift its fuel surcharge on minor routes starting today.

Sarah Cotton, a spokeswoman for B.C. Ferries, says 18 minor routes will drop their 8.8 per cent surcharge. The Horseshoe Bay to Langdale route will go down 4.6 per cent.

"Just in time for Christmas, some good news," Cotton said, while reminding passengers that the fuel surcharge will come off major routes on Dec. 19, reducing that fee by 5.15 per cent.

http://www.timescolonist.com/Business/Ferr...4717/story.html

 

[joeiannuzzi]

1208VANC
Convention centre to open on time

Vancouver`s over-budget convention centre still looks like a dirty construction site, but project boss David Podmore says it`s 95-per-cent complete and will be finished on time by March 15.

"It will be completed on time," vowed Podmore, who was brought in to oversee the project last year.

He said the tab to complete the building will remain at $883.2 million. The original budget in 2004 when construction began was $495 million.

http://www.canada.com/theprovince/news/sto...30-0ef8e107b705

 

[joeiannuzzi]

1208BCBC
B.C. residential building permits plunge 26 per cent

Home builder Norm Couttie is busy putting up 200 condo and townhouse units in four projects around the Lower Mainland right now, but isn`t so sure what 2009 will be like.

That is indicative of the residential housing sector, which saw the value of residential building permits drop substantially in October from September, according to a report from Statistics Canada.

http://www.vancouversun.com/Homes/resident...4198/story.html

 

[joeiannuzzi]

1208VANC
Sales drop forces realtors to cancel `09 conference

Metro Vancouver`s main real estate board has cancelled a conference and trade show tentatively scheduled for March 2009 due to the slow economy, the board has told prospective participants.

The Real Estate Board of Greater Vancouver (REBGV) held a version of the conference in the spring, but in a letter to prospective attendees and exhibitors, board president Dave Watt said a careful review of its sponsorship model led the executive to postpone the next edition until 2010.

http://www.vancouversun.com/Homes/Sales+dr...4199/story.html

 

[joeiannuzzi]

1208VICT
Jobless rate here lowest in Canada

Greater Victoria remains in the top spot with the lowest unemployment rate in the country despite national job losses reaching a 26-year-high.

The region`s unemployment rate edged up to 3.3 per cent in November from 3.2 per cent the previous month, Statistics Canada said yesterday. Regina and Edmonton tied for second place with 3.6 per cent.

The national rate moved to 6.3 per cent from 6.2 per cent as employment dropped by 71,000 in November. Economists say that number could easily rise to 100,000 in the coming months.

http://www.timescolonist.com/Business/Jobl...1530/story.html

 

[joeiannuzzi]

1208BCBC
B.C. growth expected to nearly stall

VANCOUVER -- Despite a gloomy economic outlook, the B.C. budget, to be tabled in February, will be balanced. But it won`t be an easy task in what promises to be "a very difficult year," Finance Minister Colin Hansen said yesterday.

Growth in B.C. now is forecast to be less than one per cent in 2009, and some economists` predictions are lower.

http://www.timescolonist.com/Sports/growth...1580/story.html