ON Economic Fundamentals 2008-08

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Recall will cost Maple Leaf $20M-plus

TORONTO

Maple Leaf Foods said yesterday it`s bracing for a decline in sales on top of a $20-million product recall after a deadly outbreak of listeriosis, but experts say the company has done everything it can to rebuild consumer confidence and should bounce back relatively quickly.

In newspaper and television ads released this weekend, Maple Leaf CEO Michael McCain offered a surprisingly candid apology on behalf of his company.

"We have an unwavering commitment to keeping your food safe with standards well beyond regulatory requirements, but this week our best efforts failed and we are deeply sorry,`` McCain said in ad, which was also posted on the YouTube website.

http://news.therecord.com/Business/article/404966

 

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Hospital construction in full swing

AJAX -- The associate chief of staff for the Rouge Valley Health System hopes the reopening of the West Durham Birthing Unit will help mend a rift between the Ajax-Pickering hospital and the community. "Hopefully this will help to ease the tension and show the hospital is sincere in keeping the birthing unit here," said Dr. Romas Stas, a former member of the Friends of the Ajax-Pickering hospital, who had to discontinue his membership because of his appointment as associate chief of staff.

http://newsdurhamregion.com/news/pickering/article/107021

 

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Newmarket, developer begin OMB hearing

Newmarket is defending its portion of the Oak Ridges Moraine.

Developer, Mademont Investment Ltd., appealed to the Ontario Municipal Board after Newmarket Council denied an application to build a residential area on the east side of Bathurst Street south of Mulock Drive, on a portion of the Oak Ridge Moraine.

Today, the town and the developer appeared before the quasi-court body.

Mademont is seeking permission to develop 448 residential units on part of 1,900 square kilometres of protected forests and creeks.

http://www.yorkregion.com/News/Newmarket/article/80336

 

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Work resumes, but critic of project remains

Work was underway at the site of a $500-million redevelopment project on Oak Park Road on Tuesday.

But at least one Six Nations man still has questions about the ownership of the land being redeveloped by King and Benton. And he remains concerned about what type of industry is being planned for the site.

"They`re spending all that money on all these things to protect the environment," Steve Powless said Tuesday. "I have to wonder what kind of industry is going in there. What kind of industry needs all of that protection?"

Powless, who has been living in a teepee near the site of the Hampton Inn project in the city`s northwest industrial park, made the comments after being asked about King and Benton`s decision to resume working.

http://www.brantfordexpositor.ca/ArticleDi....aspx?e=1173792

 

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Commercial real estate cracking under crunch

TORONTO - Canada`s commercial real-estate sector is the latest victim to be beaten back by the global crunch in capital markets, according to a new report Tuesday from CB Richard Ellis Ltd.

Investment in the Canadian commercial real-estate market, which includes office towers, shopping centres and industrial properties, fell 24 per cent in the first six months of the year, according to the report.

"Uncertainty on the part of investors as to the Canadian and world economies" has reduced both the pool of potential investors and their ability to secure debt-financing, CBRE Canada said.

http://www.canada.com/windsorstar/news/bus...89-03c49b4d6991

 

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City gets grim report card on overall performance, especially from rural areas


Ottawa - City residents as a whole think municipal government is performing poorly, but those in suburban and rural areas think it`s particularly bad, a new poll suggests. The survey was conducted for the Citizen by COMPAS Inc. last week. It found that people think the city is doing a fair job controlling crime and picking up trash, but is terrible on other services, managing tax dollars and providing decent housing for low-income earners.

The survey asked 405 people across the city to give the municipal government marks for its performance in seven areas, and it`s a pretty grim report card: a C-plus, a C, three D-minuses, and two Fs.

http://www.canada.com/ottawacitizen/news/s...2b-c203f132ad26

 

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Province kicks in $6.75M for trade-training centre

Ottawa - Plans to build a new trades-training campus for La Cité Collégiale took another step forward yesterday as the provincial government announced a contribution of $6.75 million for the project. The expansion of the francophone college would nearly triple its capacity to train students in 18 high-demand construction trades.

http://www.canada.com/ottawacitizen/news/c...cd-5b1690e6ea73

 

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Grand River improvements to go ahead

WATERLOO REGION

Watershed planners are moving forward with two projects to improve the Grand River, despite failing to secure aboriginal approval.

The Grand River Conservation Authority stalled the river works in 2006 to consult with Six Nations leaders near Brantford, who claim the river as native land.

The agency was hoping for a blessing but got no response. This is after meeting twice with hereditary chiefs, notifying the elected band council and sending letters to elected and hereditary leaders.

http://news.therecord.com/News/Local/article/405441

 

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Brock snags $553,575 of Province`s $1.1-billion infrastructure


Brock Township is going to cash in on the Province`s surplus. The McGuinty government announced more than $1.1 billion in one-time funding to all Ontario municipalities.

On the heels of the announcement, Brock Mayor Larry O`Connor said the Township will receive $533,575. That figure represents roughly nine per cent of the Township`s annual budget.

"This is wonderful news as we struggle to maintain our ageing Infrastructure and balance the cost to local property taxpayers," he said.

"Council is very appreciative of the funding and look forward to developing a plan to make the best use of this new funding."

http://newsdurhamregion.com/news/brock/article/107129

 

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Liberal green plan will drive up costs: Van Loan

York-Simcoe MP Peter Van Loan said he has serious concerns about the Liberal Party`s proposed new carbon tax on gas, oil and energy as Liberal leader Stephane Dion toured the riding last week promoting his tax plan.

"Dion`s new carbon tax will drive up the cost of gas, electricity and diesel fuel. These higher costs will, in turn, drive up the cost of groceries, household goods and consumer products," said Mr. Van Loan. "The tax hike will especially hurt those who can least afford it, including seniors living on fixed incomes and families on tight budgets."

http://www.yorkregion.com/News/Georgina/article/80368

 

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TTC scraps free parking

The free ride for Metropass users at TTC parking lots is over.

The Toronto Transit Commission voted yesterday to end the free-parking privilege for Metropass holders and start charging them for daily parking beginning next year.

"All the revenue that will come from the new parking charges will be put into bus and streetcar service across the city," TTC chairman Adam Giambrone said last night. The charges should take effect in the first quarter of 2009, he said.

http://www.torontosun.com/News/TorontoAndG...595016-sun.html

 

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Basement flooding measures to be costly

It will cost hundreds of millions of dollars to prevent basement flooding during heavy rainstorms in Toronto, says a report from Toronto Water, which runs the city`s water and sewer systems.

The flood prevention measures, if approved by city council, won`t affect water rates in 2009. But they could create pressure to raise water rates higher than planned starting in 2010, says Toronto Water`s general manager Lou Di Gironimo.

Toronto Water studied a swath of territory in the northern part of the city that was hard hit by a massive rainstorm in August 2005.

In that area alone – about 8 per cent of Toronto`s total surface area – it will cost $195 million to prevent basement flooding during violent rainstorms. The area accounted for nearly half the 4,200 flooded basements reported in the city during the 2005 storm.

http://www.thestar.com/News/GTA/article/486797

 

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Picton Street site started core boom

London - It`s the building that started it all.

The stately, 131-unit apartment tower downtown at 22 Picton St. was the first one built after the city made attracting residents to downtown London a priority.

"That is a very important building for us," says Adam Carapella, vice-president of Tricar Group, which built the tower. "We really took a leap of faith and it has been a catalyst for the downtown. It showed that we have confidence downtown."

http://lfpress.ca/newsstand/News/Local/200...596116-sun.html

 

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Residents aim to halt traffic-calming plans

Brantford - Some residents of Terrace Hill Street want the city to put the brakes on plans to slow traffic along the busy thoroughfare with physical barriers. The city is looking at installing curb extensions and centre islands along the stretch of Terrace Hill between St. Paul Avenue and Paris Road as a way to "calm" traffic. But longtime resident Ken Lefebvre said Wednesday the city should be exploring other options, such as reducing the speed limit, rather than clogging up a major artery.

"To take a street that`s vital to the flow of traffic and choke it doesn`t make sense," said the 83-year-old retired lawyer.

Lefebvre, who has lived on Terrace Hill for more than 40 years, said the road is an important link to Brantford General Hospital and the downtown.

http://www.brantfordexpositor.ca/ArticleDi....aspx?e=1175505

 

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Ready-to-use land crucial to luring firms: minister

Ontario`s minister of economic development told municipal leaders yesterday they need to be ready with substantial parcels of serviced, zoned land if they want to get large new employers to move to their communities.

Speaking at the closing session of the Association of Municipalities of Ontario, Sandra Pupatello said the pace of business decisions is so fast today that municipalities cannot expect prospective new companies to wait months, and perhaps years, for zoning changes and municipal services.

http://www.canada.com/ottawacitizen/news/c...87-d189e819207c

 

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Economic experts seek national lessons in region`s success

CAMBRIDGE

One of the country`s leading think tanks wants to know what makes this region`s economy so strong.

Ann Golden, the president and chief executive officer of the Conference Board of Canada, toured Waterloo Region yesterday with area mayors seeking insights into a startling statistic -- two thirds of the new small businesses in this country are started here.

"That`s phenomenal," Golden said in an interview following her remarks at a conference in Cambridge City Hall.

http://news.therecord.com/News/Local/article/405984

 

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Commercial real estate sales weaken

WATERLOO REGION

A new report says investment in local commercial real estate dropped off significantly in the first half of this year, but not all area real estate agents agree the year has been slow.

Commercial transactions in Waterloo Region, Guelph, Brantford and the Stratford area totalled $289 million, down from $465 million in the first six months of 2007, reported real estate firm CB Richard Ellis Ltd.

Declines were especially sharp in sales of retail properties, multi-family residential buildings and land. Sales in those categories are on track to fall 35.7, 69.7 and 75.3 per cent, respectively, for the year. On the other hand, office and industrial transactions are running ahead of last year`s pace.

http://news.therecord.com/Business/article/405979

 

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Clarington already knew zoning wasn`t the answer

CLARINGTON -- An idea put forward in Toronto about altering zoning so propane facilities -- like the site of the massive explosion in early August -- could not exist near residential zones is something Clarington has already investigated. Four years ago, when Clarington had its own propane explosion at Caledon Propane in south Bowmanville, the then-sitting council asked municipal staff to look into altering zoning laws, with an eye to ensuring such facilities weren`t allowed to exist.

But they soon found zoning wasn`t a way to control the issue.

http://newsdurhamregion.com/news/clarington/article/107189

 

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King softens stance on peaker plant

Less than two months after digging in its heels over a controversial power plant, King Township appears to have a case of cold feet.

King council voted last week to revisit plans for a peak-demand power plant that politicians, in each of the four towns selected as potential sites, rejected earlier this summer.

It marks a complete reversal by the council, which said it would oppose all applications for a peak-demand power plant in a strongly worded letter to the province, dated July 7.

http://www.yorkregion.com/News/King/article/80525

 

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Bermuda bank warms to Markham

A bank, originating 12 decades ago in Nova Scotia and relocated to Bermuda, has returned to its Canadian roots in Markham.

The Bank of Bermuda, incorporated in 1890 after Bermudian merchants took over an island branch of the Merchants` Bank of Halifax, opened a new call centre here last Friday.

The outsourcing strategy is a bid to improve and expand its customer service, including 24/7 debit and credit card support, bank communications manager Kim Wheddon said.

http://www.yorkregion.com/News/Markham/article/80491