May 2011 Maritime Economc Fundamentals
- Thread starter Ally
- Start date
- Joined
- Mar 24, 2009
- Messages
- 16,743
Maritime Steel bid stalls
The high bidder for Maritime Steel and Foundries Inc. won`t have the necessary paperwork in place by today`s deadline to take over the century-old New Glasgow foundry and Abbas Jafarnia says he is not going to sink any more cash into keeping the place operating while he waits for answers from provincial officials.
Jafarnia offered $3 million for the business that was forced into receivership in December when its parent company, Cameron Corp. Ltd., called in a $17.75-million loan.
The metallurgical engineer from Iran, who once worked for Maritime Steel, said Monday that he is already on the hook for about $30,000 to help the receiver pay for security, power and a skeleton crew to keep the plant in working order.
Read the full article here.
The high bidder for Maritime Steel and Foundries Inc. won`t have the necessary paperwork in place by today`s deadline to take over the century-old New Glasgow foundry and Abbas Jafarnia says he is not going to sink any more cash into keeping the place operating while he waits for answers from provincial officials.
Jafarnia offered $3 million for the business that was forced into receivership in December when its parent company, Cameron Corp. Ltd., called in a $17.75-million loan.
The metallurgical engineer from Iran, who once worked for Maritime Steel, said Monday that he is already on the hook for about $30,000 to help the receiver pay for security, power and a skeleton crew to keep the plant in working order.
Read the full article here.
- Joined
- Mar 24, 2009
- Messages
- 16,743
Apartment construction is bright light in housing market
Halifax`s migrant population is adding to the demand for apartment living in the Nova Scotia capital.
"Single-detached housing starts are forecast to decline by 13 per cent but will be offset by a 15 per cent increase in apartment construction in 2011," Matthew Gilmore, senior market analyst for Canada Mortgage and Housing Corp. in Halifax, told me Monday.
"In some cases, there is a little bit older generation, the baby boomers, and maybe even retirees are looking at these (rental) units. In terms of what we`re currently building for rental accommodations, they are fairly spacious units compared to what you might have seen 10 or 20 years ago.
Read the full article here.
Halifax`s migrant population is adding to the demand for apartment living in the Nova Scotia capital.
"Single-detached housing starts are forecast to decline by 13 per cent but will be offset by a 15 per cent increase in apartment construction in 2011," Matthew Gilmore, senior market analyst for Canada Mortgage and Housing Corp. in Halifax, told me Monday.
"In some cases, there is a little bit older generation, the baby boomers, and maybe even retirees are looking at these (rental) units. In terms of what we`re currently building for rental accommodations, they are fairly spacious units compared to what you might have seen 10 or 20 years ago.
Read the full article here.