MB Economic Fundamentals 2008-07

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Mortgage rules to be tightened

OTTAWA -- Ottawa is tightening the rules for government-guaranteed mortgages that will limit the maximum amortization period to 35 years and require a minimum down payment in a bid to prevent a meltdown like the one in the U.S. subprime mortgage market.

The Finance Department said Wednesday it will no longer guarantee 40-year mortgages and will require a minimum down payment of five per cent of the value of a home.

Government-backed insurance is currently available on mortgages where the loan-to-value ratio is up to 100 per cent -- in other words, the buyer has borrowed all the money to buy a home and then gets insurance coverage on the whole amount.

http://www.winnipegfreepress.com/subscribe...p-4788430c.html

 

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Taxi rates in Portage hiked to meet soaring fuel costs

Taxi rates have rose in Portage la Prairie to meet soaring fuel costs.

The standard flat rate has changed among all city taxi companies from $7 to $10. This includes All Directions shuttle service, Executive Shuttle and Arrow/Portage Taxi.

Arrow/Portage increased its flat rate to $10 two weeks ago. This is the first time Arrow/Portage Taxi has increased the rate since four years ago when it was $5.

"We`ve absorbed the gas costs for years without any increase hoping it would come down and now we`re trying to make up for that loss, plus what it`s at now," said Mike Vey, owner of Arrow/Portage Taxi.

http://www.portagedailygraphic.com/Article....aspx?e=1107564

 

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Manitoba outspent by neighbours on tourism

North and South Dakota bury us in glossy tourist brochures. Minnesota bombards the airwaves with quirky travel ads. Alberta`s marketing budget nears the $50-million mark.

What does Manitoba do to lure tourists?

"We`re not even doing marginally enough," said Ron Pradinuk, president of Journeys Travel & Leisure Centre and a Free Press travel columnist. "It`s been frustrating for people in the industry for a long time."

A survey of tourism boards in nearby states and provinces shows that Manitoba is outspent by nearly every jurisdiction except North Dakota. The governments of Minnesota, South Dakota and Saskatchewan each spend about $11 million a year, compared to Manitoba`s $7.5 million. Alberta spends a whopping $48 million, thanks to a special hotel levy.

http://www.winnipegfreepress.com/local/sto...p-4788963c.html

 

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Layoffs rock Manitoba`s airline industry

Airline industry and aerospace workers in Manitoba, long considered a stable cornerstone of the local economy, have been knocked onto their heels by 223 Air Canada-related layoffs in Winnipeg this week, with fears of more to come.

On Wednesday, the airline announced it will close its Winnipeg flight attendants base, laying off 145 people, many of them veteran Air Canada employees, and 78 workers were laid off at ACTS, the heavy maintenance operation partially owned by the airline.

http://www.winnipegfreepress.com/subscribe...p-4788907c.html

 

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Board identifies high school location in Waverley West

Pembina Trails school trustees want a new high school built almost smack dab in the middle of the massive Waverley West development.

Superintendent Lawrence Lussier cautioned recently that the division has merely identified a preferred site, which still must be approved by the developers, the city, and the provincial public schools finance board (PSFB).

"The site is near the proposed corner of Cadboro Road and the extension of Kenaston Boulevard," Lussier said. "It`s near the (east side of) the proposed town centre, and it`s near the proposed part of Kenaston that will be developed first."

http://www.winnipegfreepress.com/local/sto...p-4789538c.html

 

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Record-high gas prices fuel changes to way we drive: poll

Record-high gas prices have changed the way Manitobans drive, according to a recent Jory Capital/Probe Research Inc. survey.

Two-thirds of people in the province say they`ve made a conscious decision to drive less or have stopped driving altogether, choosing instead to carpool, take a bus, walk or ride a bicycle. About six per cent say they have considered purchasing a smaller vehicle, the survey found.

"If prices had inched up a little, I`m sure it wouldn`t be like that," Scott MacKay, Probe Research Inc. president, said Friday. "I think very few people are standing back because it comes to the point where these prices are impacting people`s lifestyles."

http://www.winnipegfreepress.com/local/sto...p-4789434c.html

 

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N.Y. guru seeks cure for core

Winnipeg`s biggest downtown boosters are taking another run at recapturing some of the area`s past retail glory and they`ve hired a prominent New York consultant to help them do it.

The hiring of Michael Berne, whose firm (MJB Consulting) has done similar work for more than a half-dozen other cities, is the first phase of an initiative being spearheaded by the Downtown Business Improvement Zone and other area stakeholders, including the city, CentreVenture Development Corp. and North Portage Development Corp.

They`ve asked Berne to identify the type of retailers they should be targeting for the downtown and how to lure them there.

http://www.winnipegfreepress.com/subscribe...p-4789545c.html

 

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Hospital expansion project kicks off

Portage la Prairie area residents will soon have more improved facilities and added services when they visit their local hospital.

Amidst a drizzly downpour on Friday morning, Manitoba`s Minister of Health announced the start of Portage District General Hospital`s Emergency Dept. expansion project, during a special sod turning ceremony outside the hospital.

"The reason for stopping in a muddy puddle is that it`s what our dreams are made of, by getting mud on our shoes. We can work together and know what we can do to make our facility better. When mud gets on our shoes, that means that shovels are in the ground and work is happening," said Theresa Oswald to onlookers who gathered in the rain during the opening presentation.

http://www.portagedailygraphic.com/Article....aspx?e=1111135

 

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Winnipeg road construction projects

Current and pending major road closures in Winnipeg, updated July 11.

Click on any pin for details and timing of the closure.

http://www.winnipegfreepress.com/subscribe...p-4752299c.html

 

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Town advocates cleanup legislation

The Petro Canada site just outside of Altona continues to raise the ire of local councillors and Mayor Mel Klassen.
An empty parking lot, weeds growing up against the building, and boarded up windows greet visitors to Altona.
They passed a resolution near the end of May to lobby the Association of Manitoba Municipalities to put pressure on the province to force owners to clean up abandoned gas stations and other "brownfields", or areas of contaminated soil.
Altona Council passed that resolution unanimously and Klassen said AMM Central has also recognized the importance of that.

http://www.altonaecho.com/News/410368.html

 

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Town denies application

Three residents showed up a public hearing hosted by Beausejour council on Tuesday, each to express opposition to an application for a conditional use order.
The applicant was seeking the order to permit used auto sales from his residential property at 223 Second Street South, limited to three used vehicles for sale on the site at any given time.
The residents showed up to express their opposition for a variety of reasons, including a potential increase in vehicular traffic and decrease in surrounding property values.

http://www.beausejourreview.com/Local%20News/410598.html

 

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Blue Flag could fly in Gimli

By next year, Gimli could have its own Blue Flag beach.

Mayor Tammy Axelsson is spearheading the community`s entry into the feasibility stage of the internationally-recognized Blue Flag program. Blue Flags are awarded to beaches and marinas that meet strict criteria that cover everything from water quality to environmental programs.

"It`s definitely something to work towards,"Axelsson said. "We`re looking at (completing the program) by 2009, so it`s certainly something we can get done."

The program`s Canadian arm, Blue Flag Canada, is administered by the Environmental Defense charity, which aims to protect the environment and human health, according to its website.

http://www.interlakespectator.com/News/410501.html

 

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Arborg water park given green light

It`s a go. The long awaited, $1.2 million aquatic park in Arborg has been given the green light to begin construction.

Tom Chwaliboga, manager of the town`s recreation facilities, said the decision to go ahead was made after fundraising reached 90 percent of the money needed to complete the project."The business community has stepped up big time so we can go ahead and start building this summer," Chwaliboga said.

http://www.interlakespectator.com/News/410511.html

 

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Brokenhead bigger

Brokenhead Ojibway Nation has been given a significant amount of acreage from the provincial government after they completed transfers to reserves all over the province, moving forward on their treaty land entitlement commitments.
Brokenhead received approximately 672 acres of land formerly known as Ironwood Point. This is only a percentage of the land allotted to the reserve, as the provincial government has set aside a grand total of 4,344 to be eventually transferred. Brokenhead Chief Deborah Chief says the reserve is happy to finally have the contract upheld.
"It`s been along time coming." she said.

http://www.selkirkjournal.com/News/410671.html

 

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Political landscape as flat as the prairie

Support for Manitoba`s three political parties is as flat as a Manitoba horizon, according to a new poll.

At 46 per cent, Premier Gary Doer`s NDP still holds a firm grasp on power nearly eight years after forming government. The NDP is polling about 10 percentage points ahead of the Progressive Conservatives, who earned 36 per cent support. The Liberals have the support of 13 per cent of those polled, according to a new omnibus poll done last month by Probe Research for the Winnipeg Free Press.

The three parties have barely moved a point or two in five years, flatlining at the same level of support each enjoyed after the 2003 election.

http://www.winnipegfreepress.com/local/sto...p-4790214c.html

 

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A new kind of tenant for Exchange

$4-million redevelopment project is underway in the city`s historic Exchange District, and it boasts a type of commercial tenant not typically found in the downtown. Jeld-Wen Windows and Doors plans to open its first downtown showroom next month on the main floor of a four-storey heritage building at 230 Princess St.

It will be the first foray into the heart of a city for Jeld-Wen`s Canadian operations. The company`s other four product showrooms, in Burnaby, Edmonton, Calgary and Montreal, are all located in suburbs.

Door-and-window showrooms are a rare sight in downtown Winnipeg -- one downtown official couldn`t remember the last time there`s been one there.

http://www.winnipegfreepress.com/subscribe...p-4790221c.html

 

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Point Douglas defenders take fight to Blue zone

Opponents of a proposed Point Douglas football stadium have been going to Blue Bombers fans to try to keep any new facility from coming to them.

And some officials close to the stadium negotiations charge that the critics aren`t playing fair. Before last Friday night`s Bombers game at Canad Inns Stadium, several opponents to the proposed Point Douglas stadium project handed out leaflets to fans on their way in.

http://www.winnipegsun.com/News/Winnipeg/2...149606-sun.html

 

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West End shows off creative ideas

The West End BIZ and Neighbourhoods Alive! got to share some of their feats with other Canadian community planners, land developers and academics yesterday.

Winnipeg hosted the Canadian Institute of Planners conference, where industry members meet and analyze ideas, and sometimes steal each other`s. "I hope they take some of the ideas," said West End BIZ executive director Gloria Cardwell-Hoeppner.

http://www.winnipegsun.com/News/Winnipeg/2...159546-sun.html

 

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Ontario move humbles Manitoba

Ontario has protected half its boreal forest from mining and logging, a move local environmentalists say puts Manitoba to shame.

"That is astonishing. It`s unbelievable," said Eric Reder, the Manitoba director of the Wilderness Committee. "They`re talking about protecting 50 per cent of the boreal forest. We are desperately struggling to get to 8.6 per cent."

Ontario Premier Dalton McGuinty announced Monday that his province would protect 225,000 square kilometres of boreal forest in the province`s far north, an area bigger than all the Maritime provinces put together. It`s not clear yet exactly which parts of the vast forest will be protected, but the province pledged to work with First Nations on land-use plans much like Manitoba is doing.

http://www.winnipegfreepress.com/local/sto...p-4790692c.html

 

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Troubling sign for economy

Consumer pessimism in Manitoba is at its highest level in more than a decade, a new survey has found -- and that could spell trouble for the local economy.

A new Winnipeg Free Press/Jory Capital survey found that 16 per cent of Manitobans think they`ll be financially worse off a year from now. That`s up from 10 per cent in March, when the previous consumer confidence poll was taken.

Twenty-three per cent of respondents in the poll conducted by Probe Research also said they`re financially worse off now than they were a year ago -- the highest that number has been since September 2001. It`s also eight percentage points higher than it was in March.

http://www.winnipegfreepress.com/subscribe...p-4790697c.html