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MB Economic Fundamentals 2008-12

joeiannuzzi

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Shoppers defy downturn

They may think like Scrooge, but Manitoba consumers seem to be acting more like Santa. Probe Research surveyed Manitobans about their spending plans this holiday season, and more than one-third of respondents (36 per cent) said they planned to cut back on gifts and entertainment in the face of the economic downturn that has gripped much of the country -- except, for the most part, Manitoba.

The survey of 1,000 people was carried out by Probe for Jory Capital Inc. and the Winnipeg Free Press between Nov. 27 and Dec. 7.

http://www.winnipegfreepress.com/business/...y_downturn.html
 

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Portage holding steady in economic storm

Portage la Prairie may have eluded the larger implications of a downturn in the national economy, but don`t breathe too easy, too soon.

"At the moment, I would say that Manitoba is weathering the recession a little bit better than the rest of Canada and a lot better than Ontario," said John McCallum, professor of finance at the Asper School of Business.

"I think for the next year, you will see Manitoba bump along, but we are indeed headed for a downturn — there is no doubt about that," he continued.

http://www.portagedailygraphic.com/Article....aspx?e=1354381
 

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Big chains have an eye on free-spending Winnipeg

MANITOBANS were on a retail spending bender for the first 10 months of this year, and that has some of the world`s biggest retailers sniffing around Winnipeg for expansion opportunities.

Only days after international home furnishings giant IKEA unveiled plans to build a new 350,000-square-foot destination store in southwest Winnipeg, a spokeswoman for one of the world`s largest clothing and fashion retailers-- Sweden-based H&M -- said it`s also got its eye on Winnipeg for expansion. "We are expanding throughout Canada and we`re always looking for new and great cities to expand into," Emily Scarlett said Thursday. "And being a major city, Winnipeg is definitely on our radar screen."

http://www.winnipegfreepress.com/business/...g_winnipeg.html
 

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New Hydro highrise city`s first since `90

The last time a new skyscraper opened its doors in Winnipeg, Brian Mulroney was Canada`s Prime Minister, George W. Bush`s daddy sat in the White House and a rapper named Vanilla Ice had a No. 1 single in Ice Ice Baby. When 150 Manitoba Hydro workers moved into the Crown corporation`s new Portage Avenue headquarters on Monday morning, Winnipeg unofficially added a new skyscraper to a skyline that has barely changed for 18 years.

http://www.winnipegfreepress.com/local/new...t_since_90.html
 

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Selinger projects balanced budget


The Manitoba government will balance its budget despite a "razor thin" $2-million surplus and $340 million in overspending, Finance Minister Greg Selinger said Tuesday.

Selinger said the province is forecasting the province will once again be in the black when it tables its next budget in the spring, even though costs are up in some key government areas and in agriculture support programs.

http://www.winnipegfreepress.com/local/bre...ces_budget.html
 

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City decision on police HQ expected soon

More than a year ago, the city of Winnipeg put off a plan to repair the crumbling exterior of the Public Safety Building, the downtown police headquarters that has stood on Princess Street since 1965. Originally, the cost of replacing the PSB`s loose Tyndall-stone cladding was pegged at $19 million. But the projected price tag for the recladding ballooned to approximately $40 million after officials factored in the cost of placing police officers in other buildings while construction was underway.

http://www.winnipegfreepress.com/local/cit...ected_soon.html
 

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Plant gets the pulse beating


A $9-million crop-processing facility slated to open next spring near Altona will employ about 40 people in the southern Manitoba community, according to the CEO of the offshore company behind the development. Makhdoom Abbas said in an interview from Sweden the 25,000-square-foot plant, which will process shelf-ready pulse crops such as dry beans, peas and lentils, is about 90 per cent complete.

http://www.winnipegfreepress.com/business/...se_beating.html
 

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No big deals, but market still healthy

The big home runs were missing, but 2008 was still a good year for commercial real estate transactions in Winnipeg, industry officials say. A year-end market research report by Colliers Pratt McGarry said $327-million worth of sales transactions were completed in 2008, which is less than half of 2007`s record-breaking total of more than $700 million.

http://www.winnipegfreepress.com/business/...eal_estate.html
 

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Millions hinge on dam vote

Northern First Nations will vote early in the new year on a revenue-sharing deal that could pump millions of dollars into four reserves from the proposed Keeyask dam. The complex deal, settled earlier this year, would give bands Tataskweyak, War Lake, Fox Lake and York Factory everything from a 25 per cent ownership share in the dam to annual compensation for flooding that`s expected to damage fishing and hunting areas.

http://www.winnipegfreepress.com/local/mil...n_dam_vote.html
 

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Busy business dealings

The year 2008 was all business in the front, and very little party in the back for the city of Portage la Prairie.

In January, Stewart-Greenslade announced it would be merging with Winnipeg-based Horizon Insurance on April 1.

"The principal reason is for (the) perpetuation of the Stewart-Greenslade Insurance offices, going forward into the future .... There is a need to ensure that the business is perpetuated when we decide at some point in the future that it`s time to retire," Brent Gilbert, president of Stewart-Greenslade Insurance, said on Jan. 29.

http://www.portagedailygraphic.com/Article....aspx?e=1368857
 
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