May 2012 Maritime Economic Fundamentals
- Thread starter Ally
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Irving Shipbuilding recognized as top Canadian defence company
SAINT JOHN ` Irving Shipbuilding Inc. has been named the top defence company in Canada for 2012 by Canadian Defence Review, the country's leading magazine on defence and military.
The company, a key supplier to the Royal Canadian Navy, jumped from No. 5 in last year's ranking of the top defence companies in the country.
"We are honoured to be recognized as one of Canada's forefront shipbuilding companies in the country," said Steve Durrell, president of Irving Shipbuilding.
Read the full article here.
SAINT JOHN ` Irving Shipbuilding Inc. has been named the top defence company in Canada for 2012 by Canadian Defence Review, the country's leading magazine on defence and military.
The company, a key supplier to the Royal Canadian Navy, jumped from No. 5 in last year's ranking of the top defence companies in the country.
"We are honoured to be recognized as one of Canada's forefront shipbuilding companies in the country," said Steve Durrell, president of Irving Shipbuilding.
Read the full article here.
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Global unveils $3 million plan for north-end Halifax office
Residents, merchants and politicians from north-end Halifax rolled out the welcome mat for Global Maritimes on Friday.
They applauded when the Shaw Media-owned broadcaster unveiled its $3-million plan to transform Palooka`s gym into its regional broadcasting headquarters.
Come October, the broadcaster will vacate its current studio in Burnside and its staff ` more than 50 people ` will begin working out of the historic building at 2110 Gottingen St. that once was a community theatre and concert venue.
Read the full article here.
Residents, merchants and politicians from north-end Halifax rolled out the welcome mat for Global Maritimes on Friday.
They applauded when the Shaw Media-owned broadcaster unveiled its $3-million plan to transform Palooka`s gym into its regional broadcasting headquarters.
Come October, the broadcaster will vacate its current studio in Burnside and its staff ` more than 50 people ` will begin working out of the historic building at 2110 Gottingen St. that once was a community theatre and concert venue.
Read the full article here.
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Nova Scotia government needs less study, more action to pay for Michelin expansion
Michelin North America (Canada) Inc. seems to be hinting to Nova Scotia officials that it`s thinking about expanding its manufacturing operations in Waterville, Kings County, but only if the province can show it can compete.
It should be a pretty easy decision for the provincial government and the municipality. Michelin is already one of the largest employers in Nova Scotia with about 3,500 workers, and, after more than 40 years in the province, the French tire maker, we all know, wants conditions just right before it commits to a multi-million-dollar expansion.
In this case, the company would be expanding its truck and off-road tire-making operations in Waterville. According to a briefing document obtained by The Chronicle Herald`s Valley Bureau, there is a potential for a $500-million investment, creating an additional 200 jobs in Waterville.
Read the full article here.
Michelin North America (Canada) Inc. seems to be hinting to Nova Scotia officials that it`s thinking about expanding its manufacturing operations in Waterville, Kings County, but only if the province can show it can compete.
It should be a pretty easy decision for the provincial government and the municipality. Michelin is already one of the largest employers in Nova Scotia with about 3,500 workers, and, after more than 40 years in the province, the French tire maker, we all know, wants conditions just right before it commits to a multi-million-dollar expansion.
In this case, the company would be expanding its truck and off-road tire-making operations in Waterville. According to a briefing document obtained by The Chronicle Herald`s Valley Bureau, there is a potential for a $500-million investment, creating an additional 200 jobs in Waterville.
Read the full article here.
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Silver linings of a slow-growth economy
If there is a central message in Jeff Rubin`s sprawling new book, it is this: the end of cheap oil prices means the world is shifting into a period of slow economic growth, one in which many citizens will have to learn to live with less. But that`s not all bad.
Sipping a Tim Hortons coffee at his Toronto book publisher`s office, he expounds on the contents of his new book, The End of Growth. We go from Rob Ford`s Toronto to fishing in northern Saskatchewan, from the streets of Egypt to bars in Copenhagen and rural villages in China.
Read the full article here.
If there is a central message in Jeff Rubin`s sprawling new book, it is this: the end of cheap oil prices means the world is shifting into a period of slow economic growth, one in which many citizens will have to learn to live with less. But that`s not all bad.
Sipping a Tim Hortons coffee at his Toronto book publisher`s office, he expounds on the contents of his new book, The End of Growth. We go from Rob Ford`s Toronto to fishing in northern Saskatchewan, from the streets of Egypt to bars in Copenhagen and rural villages in China.
Read the full article here.
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Building permits rise 4.7% in March
Statistics Canada says the pace of construction picked up again in March as the value of building permits issued rose 4.7 per cent to $6.8-billion.
This follows a 7.6-per-cent increase in February.
The increase was led by permits for institutional and commercial buildings, mostly in Ontario.
The value of non-residential permits rose 13.9 per cent to $2.9-billion in March, after jumping 37.7 per cent the previous month
Read the full article here.
Statistics Canada says the pace of construction picked up again in March as the value of building permits issued rose 4.7 per cent to $6.8-billion.
This follows a 7.6-per-cent increase in February.
The increase was led by permits for institutional and commercial buildings, mostly in Ontario.
The value of non-residential permits rose 13.9 per cent to $2.9-billion in March, after jumping 37.7 per cent the previous month
Read the full article here.
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Why Canada needs a flood of immigrants
Between now and 2021, a million jobs are expected to go unfilled across Canada. Ottawa is making reforms to the immigration system but isn't going far enough. We need to radically boost immigration numbers. With the right people, Canada can be an innovative world power. Without them, we'll drain away our potential.
Read the full article here.
Between now and 2021, a million jobs are expected to go unfilled across Canada. Ottawa is making reforms to the immigration system but isn't going far enough. We need to radically boost immigration numbers. With the right people, Canada can be an innovative world power. Without them, we'll drain away our potential.
Read the full article here.
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Court rejects e-mail sale of $155,000 condo
New Brunswick judges have overturned a ruling that allowed a man to buy a condo in Moncton, site unseen, by email.
The buyer, Marc Girouard, sued the seller, Kelty Druet, after Girouard believed he had a deal to buy her two-bedroom unit in October 2010 for $155,000 following an email exchange.
The agreement had been made in seven emails over a two-day period. But three hours after Druet said in an email on Oct. 25, 2010 that she would accept the offer, she changed her mind, saying that her partner, who was out of the country, did not agree with the price.
Read the full article here.
New Brunswick judges have overturned a ruling that allowed a man to buy a condo in Moncton, site unseen, by email.
The buyer, Marc Girouard, sued the seller, Kelty Druet, after Girouard believed he had a deal to buy her two-bedroom unit in October 2010 for $155,000 following an email exchange.
The agreement had been made in seven emails over a two-day period. But three hours after Druet said in an email on Oct. 25, 2010 that she would accept the offer, she changed her mind, saying that her partner, who was out of the country, did not agree with the price.
Read the full article here.
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A graphic presentation on the sorry state of the global economy
The US employment numbers came out this morning, and they were disappointing. But disappointing does not begin to describe the situation I read about today in Europe. I have just finished up with my conference in Carlsbad, California and am getting back to the room late. I have to get up in a few hours (4 AM is rather obscene) to fly to Tulsa to see my daughter graduate from university, but wanted to drop you a note as I normally do on Friday night. But given the time and the need for some sleep, tonight I will draw your attention to the writing of a few friends and some of the more interesting charts I saw at the conference. It will be a shorter letter than usual, but we will uncover a few real nuggets; and next week I will be back to a more normal writing schedule.
Read the full article here.
The US employment numbers came out this morning, and they were disappointing. But disappointing does not begin to describe the situation I read about today in Europe. I have just finished up with my conference in Carlsbad, California and am getting back to the room late. I have to get up in a few hours (4 AM is rather obscene) to fly to Tulsa to see my daughter graduate from university, but wanted to drop you a note as I normally do on Friday night. But given the time and the need for some sleep, tonight I will draw your attention to the writing of a few friends and some of the more interesting charts I saw at the conference. It will be a shorter letter than usual, but we will uncover a few real nuggets; and next week I will be back to a more normal writing schedule.
Read the full article here.
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Rent regulation unlikely to offer Halifax consumers relief
If the goal of government regulation of the marketplace is to keep prices affordable for the average person, then Nova Scotians haven`t had much luck.
For instance, retail gasoline prices are regulated but the aim isn`t to keep prices down for the benefit of consumers. The system is designed to protect low-volume gas dealers, mainly in rural areas, who would suffer if they were forced to compete with high-volume, lower-price retailers in urban areas.
As a result, Nova Scotians are paying prices for gas that are designed to allow the least efficient operators to stay in business.
Read the full article here.
If the goal of government regulation of the marketplace is to keep prices affordable for the average person, then Nova Scotians haven`t had much luck.
For instance, retail gasoline prices are regulated but the aim isn`t to keep prices down for the benefit of consumers. The system is designed to protect low-volume gas dealers, mainly in rural areas, who would suffer if they were forced to compete with high-volume, lower-price retailers in urban areas.
As a result, Nova Scotians are paying prices for gas that are designed to allow the least efficient operators to stay in business.
Read the full article here.
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The Atlantic province's labour markets
The job market for international workers in the Atlantic provinces of Canada is quite favourable as skills shortages and an aging population have become priority issues for businesses in Atlantic Canada. Over the past few years, many companies have found it difficult to fill highly skilled management and professional and technical positions, usually in the fields of information technology, financial, marketing and sales. Companies in sectors that need relatively unskilled or seasonal workers are also facing a labour shortage. This includes the tourism, forestry, and seafood processing industries.
Why this dramatic skills shortage happening throughout Atlantic Canada? The dominant factor, as in the rest of Canada, has been the demographic profile of the region. With low birth rates, an aging population, and a prolonged out migration of young people from the Atlantic provinces (historically, young people have been moving out of the Atlantic provinces to mainland Canada since the downturn of the cod industry in the region), the number of people entering the labour market is declining and will continue to do so. In combination with the number of workers entirely leaving the workforce, there is a large gap in the Atlantic provinces` job market. As a result businesses in Atlantic Canada are faced with an overall decline in the size of the labour force and over the next two decades it will become increasingly hard for these businesses to find the workers they need without the help of international migration in meeting such challenges.
Read the full article here.
The job market for international workers in the Atlantic provinces of Canada is quite favourable as skills shortages and an aging population have become priority issues for businesses in Atlantic Canada. Over the past few years, many companies have found it difficult to fill highly skilled management and professional and technical positions, usually in the fields of information technology, financial, marketing and sales. Companies in sectors that need relatively unskilled or seasonal workers are also facing a labour shortage. This includes the tourism, forestry, and seafood processing industries.
Why this dramatic skills shortage happening throughout Atlantic Canada? The dominant factor, as in the rest of Canada, has been the demographic profile of the region. With low birth rates, an aging population, and a prolonged out migration of young people from the Atlantic provinces (historically, young people have been moving out of the Atlantic provinces to mainland Canada since the downturn of the cod industry in the region), the number of people entering the labour market is declining and will continue to do so. In combination with the number of workers entirely leaving the workforce, there is a large gap in the Atlantic provinces` job market. As a result businesses in Atlantic Canada are faced with an overall decline in the size of the labour force and over the next two decades it will become increasingly hard for these businesses to find the workers they need without the help of international migration in meeting such challenges.
Read the full article here.
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Subdivision proposed for Porters Lake
A proposed development in Porters Lake would see a large swath of land turned into a residential subdivision.
P.J.C. Land Developments Ltd., headed by Paul R. Norwood, has applied for a Stage 2 development agreement to build 215 `unique custom homes` on 215 hectares. The majority of the project would be in Porters Lake.
The proposal is for a hybrid form of open-space design that would have a new public road as the spine of the development, connecting Myra Road in Porters Lake to Circle Drive in Lake Echo.
Read the full article here.
A proposed development in Porters Lake would see a large swath of land turned into a residential subdivision.
P.J.C. Land Developments Ltd., headed by Paul R. Norwood, has applied for a Stage 2 development agreement to build 215 `unique custom homes` on 215 hectares. The majority of the project would be in Porters Lake.
The proposal is for a hybrid form of open-space design that would have a new public road as the spine of the development, connecting Myra Road in Porters Lake to Circle Drive in Lake Echo.
Read the full article here.
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Halifax airport authority had a record year
It was a very good year for the Halifax International Airport Authority in 2011.
`We had our busiest year for passenger traffic, increased our cargo activity, completed several capital improvement projects and delivered a positive bottom line,` Tom Ruth, the authority`s president and chief executive officer, said in a news release Thursday.
The authority operates Halifax Robert L. Stanfield International Airport.
Overall passenger traffic increased by 2Â per cent last year to 3,594,164 passengers, up from 3,508,153 in 2010.
Last year`s numbers accounted for more than half of all the air passengers in Atlantic Canada.
Read the full article here.
It was a very good year for the Halifax International Airport Authority in 2011.
`We had our busiest year for passenger traffic, increased our cargo activity, completed several capital improvement projects and delivered a positive bottom line,` Tom Ruth, the authority`s president and chief executive officer, said in a news release Thursday.
The authority operates Halifax Robert L. Stanfield International Airport.
Overall passenger traffic increased by 2Â per cent last year to 3,594,164 passengers, up from 3,508,153 in 2010.
Last year`s numbers accounted for more than half of all the air passengers in Atlantic Canada.
Read the full article here.
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Fresh look for Dartmouth
Change is brewing in downtown Dartmouth and it`s hoped that a colourful and cohesive identity will attract new retailers and help the downtown area thrive.
The Downtown Dartmouth Business Commission unveiled its fresh, new look Monday at Alderney Landing to a crowd of more than 100 business types and politicians, including Premier Darrell Dexter and Coun. Gloria McCluskey (District 5).
The business group commissioned Extreme Group of Halifax to design the re-branding that`s now visible on downtown street signs, in store windows and online.
Read the full article here.
Change is brewing in downtown Dartmouth and it`s hoped that a colourful and cohesive identity will attract new retailers and help the downtown area thrive.
The Downtown Dartmouth Business Commission unveiled its fresh, new look Monday at Alderney Landing to a crowd of more than 100 business types and politicians, including Premier Darrell Dexter and Coun. Gloria McCluskey (District 5).
The business group commissioned Extreme Group of Halifax to design the re-branding that`s now visible on downtown street signs, in store windows and online.
Read the full article here.
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Economy expected to take off in Nova Scotia
The provincial economy will shake off the doldrums this year and pick up steam in 2013, says the Conference Board of Canada.
The recent economic recession hit Nova Scotia less harshly than most other provinces, said Marie-Christine Bernard, the board`s associate director of its provincial outlook.
Consequently, the recovery has been slower in Nova Scotia, which had one of the worst performing economies in 2010 and 2011.
Read the full article here.
The provincial economy will shake off the doldrums this year and pick up steam in 2013, says the Conference Board of Canada.
The recent economic recession hit Nova Scotia less harshly than most other provinces, said Marie-Christine Bernard, the board`s associate director of its provincial outlook.
Consequently, the recovery has been slower in Nova Scotia, which had one of the worst performing economies in 2010 and 2011.
Read the full article here.
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Shell millions tied to study in Nova Scotia
A $15-million government-funded study on Nova Scotia`s offshore oil and gas potential helped spur Shell`s $1-billion exploration program here, a Houston-based chief geologist with the global energy giant said Wednesday in Halifax.
Brad Prather, who works in deepwater exploration for the company`s Upstream Americas division, told a renewable energy research and development forum that the study played an important role in the super major`s decision to start looking for oil and gas here again.
Read the full article here.
A $15-million government-funded study on Nova Scotia`s offshore oil and gas potential helped spur Shell`s $1-billion exploration program here, a Houston-based chief geologist with the global energy giant said Wednesday in Halifax.
Brad Prather, who works in deepwater exploration for the company`s Upstream Americas division, told a renewable energy research and development forum that the study played an important role in the super major`s decision to start looking for oil and gas here again.
Read the full article here.
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Two 24-unit condo buildings planned for Bedford development
The Bedford property has sat vacant for years, and now the owners are looking to develop it.
Bill Fenton and his family have owned parcels of land at 82, 88 and 92 Dartmouth Road for more than a decade and recently applied to build a pair of four-storey, 24-unit condominium buildings on the 1.2-hectare site.
But the area is zoned for single dwelling units, and a change to the Bedford Secondary Planning Strategy would be needed to get a development agreement.
Read the full article here.
The Bedford property has sat vacant for years, and now the owners are looking to develop it.
Bill Fenton and his family have owned parcels of land at 82, 88 and 92 Dartmouth Road for more than a decade and recently applied to build a pair of four-storey, 24-unit condominium buildings on the 1.2-hectare site.
But the area is zoned for single dwelling units, and a change to the Bedford Secondary Planning Strategy would be needed to get a development agreement.
Read the full article here.
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New Brunswick home sales rise in April
The number of homes sold through the Multiple Listing Service Systems of real estate Boards in New Brunswick was up in April compared to March 2012, but did record a year-over-year decline reflecting a surge in activity last April.
Provincial home sales numbered 625 units in April 2012. This was a decrease of nine per cent on a year-over-year basis, owing largely to a jump in sales last April. On a seasonally adjusted basis April actually saw a five per-cent rebound from March.
At the national level, sales were up 12 per cent compared to April 2011.
Read the full article here.
The number of homes sold through the Multiple Listing Service Systems of real estate Boards in New Brunswick was up in April compared to March 2012, but did record a year-over-year decline reflecting a surge in activity last April.
Provincial home sales numbered 625 units in April 2012. This was a decrease of nine per cent on a year-over-year basis, owing largely to a jump in sales last April. On a seasonally adjusted basis April actually saw a five per-cent rebound from March.
At the national level, sales were up 12 per cent compared to April 2011.
Read the full article here.
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Market for pricey Halifax homes strong, real estate firm says
An increasing number of the Halifax region`s priciest homes are changing hands, a new report by Re/Max shows.
According to the report released Wednesday, 66 homes with a list price of $500,000 or more were sold in the Halifax-Dartmouth area during the quarter ending March 31, a 27 per cent increase from the 52 homes sold during the same period last year.
`The jump that we`ve had, 14 units between last year and this year, is one of the greatest jumps we`ve had,` said Al Demings, with Re/Max Nova, in a telephone interview.
Read the full article here.
An increasing number of the Halifax region`s priciest homes are changing hands, a new report by Re/Max shows.
According to the report released Wednesday, 66 homes with a list price of $500,000 or more were sold in the Halifax-Dartmouth area during the quarter ending March 31, a 27 per cent increase from the 52 homes sold during the same period last year.
`The jump that we`ve had, 14 units between last year and this year, is one of the greatest jumps we`ve had,` said Al Demings, with Re/Max Nova, in a telephone interview.
Read the full article here.
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Imperial Oil looking to sell
CALGARY ` Nearly a century after the Dartmouth refinery owned by Imperial Oil Ltd. began production, the Nova Scotia facility may soon be forced to shut down, a victim of declining demand and continuing discounts of Canadian crude.
Canada`s second-largest energy company announced plans Thursday to sell its east coast refinery after years of struggling to turn a profit on the facility. However, with much of the continent`s northeastern refining capacity either being put up for sale or shutting down as North American production moves inland, finding a willing buyer is far from guaranteed.
`The last few years have been difficult, we`re talking about tens of millions of dollars that we couldn`t close,` Gilles Courtemanche, vice-president and general manager of refining and supply at the Calgary-based company, said during a hastily arranged news conference in Dartmouth.
Read the full article here.
CALGARY ` Nearly a century after the Dartmouth refinery owned by Imperial Oil Ltd. began production, the Nova Scotia facility may soon be forced to shut down, a victim of declining demand and continuing discounts of Canadian crude.
Canada`s second-largest energy company announced plans Thursday to sell its east coast refinery after years of struggling to turn a profit on the facility. However, with much of the continent`s northeastern refining capacity either being put up for sale or shutting down as North American production moves inland, finding a willing buyer is far from guaranteed.
`The last few years have been difficult, we`re talking about tens of millions of dollars that we couldn`t close,` Gilles Courtemanche, vice-president and general manager of refining and supply at the Calgary-based company, said during a hastily arranged news conference in Dartmouth.
Read the full article here.