AB Economic Fundamentals 2008-07

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TransCanada pushes ahead with $7B Keystone pipeline expansion

CALGARY - TransCanada Corp. is plowing ahead with a $7-billion US expansion of its Keystone pipeline project that will provide additional capacity to ship crude from Alberta`s oilsands to U.S. Gulf Coast refiners.

Canada`s largest pipeline company said in a statement Wednesday that its decision follows a successful round of negotiations in which producers in Alberta agreed to ship 300,000 barrels of oil a day for an average term of 18 years on the second major piece of Keystone, which will have a capacity to move 500,000 barrels of oil a day to the U.S. Gulf Coast.

The line will follow a path from Hardisty, Alta., southeast to Nebraska, south to Cushing, Okla., and then on to refinery row on the Texas coast.

http://www.canada.com/edmontonjournal/news...ae-aa664e648480

 

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Ed draws a line in the oilsands

QUEBEC CITY, Que. -- The characters may change but the plot is always the same -Alberta`s future and prosperity versus those who envy it and contrive sneaky ways of taking it.

It`s Preem Fest time again. The gathering is now known by its posh new name, the Council of the Federation, complete with its own bureaucracy that`s already spinning out of control.

U.S. presidential hopefuls Barack Obama and John McCain are now getting into the act. That`s the word from the premiers who want to stick a big straw in Alberta`s robust hydrocarbon economy and start sucking.

Premier Ed Stelmach drew his line in the sand early. l`d have used a backhoe. "I`m elected by Albertans," he said. "And I will support the policies that are best for Albertans."

http://www.edmontonsun.com/News/Alberta/20...180466-sun.html

 

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Mayor wants the full picture on closing airport

Mayor Stephen Mandel wants more information on the potential fallout that would come with closing the City Centre Airport.

And he wants that made available at a Sept. 2 public hearing on the future of the airstrip. A recent city report found the land could be worth up to $500 million for the city if sold to developers.

"It`s simple to make a statement that, well, we`re just going to look at land value," Mandel said. "I think you have to look at all the different variables that are there and make an educated decision, so that`s what we`re going to do."

http://www.edmontonsun.com/News/Edmonton/2...180501-sun.html

 

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U of C expands services to attract new employees

In a bid to attract and retain skilled staff, the University of Calgary is going well beyond providing day care by also offering programs to help employees care for their aging parents.

The move comes as an increasing number of Calgary firms create benefits packages designed to help the growing number of employees caught in the so-called "sandwich generation."

The U of C is partnering with Toronto-based private child-care provider Kids & Company to ensure its 4,700 staff members have guaranteed access to child care and elder care.

http://www.canada.com/calgaryherald/news/c...2b-b286866471f5

 

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Pizza firm spreading wings in Calgary

Panago Pizza Inc. is planning further expansion in the Calgary market, says the company`s CEO.

Sean DeGregorio said the company, whose head office is in Abbotsford, B.C., is looking at adding about half a dozen stores in Calgary in the next three years. Panago, which began operation in 1986, has 160 stores across the country, including 16 in Calgary and 57 in Alberta.

"We kind of completed our initial expansion into not only Calgary but also Edmonton and the other Alberta regions a handful of years ago," said DeGregorio. "What we got essentially is a critical mass where we were covering all the major markets."

http://www.canada.com/calgaryherald/news/c...7a-8c76b15dc9c7

 

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Parked at No. 18 but not for long


Striving to be recognized as an international city, Calgary is among the tops in the world in at least one category -- its pricey parking rates rank it No. 18 on the planet with little sign of abating.

An annual parking survey by Colliers International, a leading real estate firm, shows Calgary is one of the costliest cities to find parking in the world, surpassing Amsterdam, Munich, San Francisco and Milan with a daily median rate of $27, or a $428 monthly hit. That marks a $78 increase per month from the same study conducted last year as commuters vie for a limited number of available stalls in the downtown core. Ross Moore, executive vice-president of Colliers and the report`s author, said this is the first time in eight years of preparing the study they`ve looked outside North America, surveying 138 cities worldwide.

http://calsun.canoe.ca/News/Alberta/2008/0...182171-sun.html

 

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City to borrow millions

The city will borrow up to a half-billion dollars over the next five years to help cover major planned projects, increasing its debt load and leaving some aldermen concerned.

The city`s finance committee yesterday agreed a plan to approve up to $100 million annually in new debt that can be covered through incoming funding and revenues, a move that will see the per capita debt load on Calgarians increase from the current $510 to as much as $1,000. With $3.3 billion coming into Calgary coffers over the next 10 years as part of the province`s Municipal Sustainability Initiative (MSI), the committee heard until council knows when the money will flow in, the city may have to borrow in the short term.

http://calsun.canoe.ca/News/Alberta/2008/0...182176-sun.html

 

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Olds College cutting staff and programs

Olds College is cutting up to 20 teaching positions and cancelling or cutting back five low-enrolment courses to save $1.8 million.

The college took a hard look at its $42-million budget when it became clear it would not be enough to cover all of the programs in the 2008-09 plan, said Robert Wilson, vice-president of academic and research.

"Overall, it is a belt-tightening exercise stemming from rising costs and a relative stable increase in our revenues," said Wilson.

The budget for the coming school year is up 5.7 per cent from last year`s $39.6 million.

http://www.albertalocalnews.com/reddeeradv...d_programs.html

 

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City workers cut trees near arena

The Red Deer arena parking lot is looking a little more spacious or desolate these days — depending on your point of view.

Fifty-six ash trees that bordered the lot were chopped down by city parks workers over the last week. The trees succumbed to the cottony ash psyllid — a sap-sucking insect that was inadvertently transported to the province from Siberia.

"The trees were all either dead or nearly dead," said Elaine Johnson, the city`s urban forester.

http://www.albertalocalnews.com/reddeeradv...near_arena.html

 

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Storm wreaks havoc in Seven Persons

There was nothing Seven Persons residents could do yesterday but start cleaning up the mess, after a wild summer storm Tuesday night left a path of destruction in its wake.

Around 7:50 p.m., Environment Canada received reports from the RCMP of what looked to be a tornado in the Seven Persons area. "We can`t confirm or deny at this time that it was a tornado, but we have a storm damage survey team on its way there now," said meteorologist Brian Proctor Wednesday afternoon.

Whether a tornado actually touched down or not, there is no denying the strength of the storm. At times last evening, the Seven Persons weather station was registering 131 km/h wind gusts. The storm snapped trees like they were matchsticks, ripped evergreens up by their roots, and downed power lines.

http://www.medicinehatnews.com/content/view/36055/65/

 

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Province faces $100M tab for regions` deficits

CALGARY - New documents reveal the Alberta government paid more than $60 million last year to cash-strapped health regions, and taxpayers are still facing a tab of nearly $100 million to cover deficits at the former health authorities.

The province`s health regions -- which have been replaced by a single medical superboard -- released audited financial statements this week which suggest five of the nine authorities faced budget shortfalls in 2007-08. The two most significant deficits were at Edmonton-based Capital Health, at $18.5 million in the red, and Calgary, with a $97.5-million deficit.

http://www.canada.com/edmontonjournal/news...f4-19f9a1b2ea3c

 

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Premiers remove barriers to labour mobility

QUEBEC - As premiers and territorial leaders reached a deal on trade and labour mobility across Canada Thursday, they also expressed worries about the future of the North American Free Trade Agreement.

"We feel it`s very important as provinces and territories to do our share to nurture this relationship (NAFTA) and defend what is the most important trade relationship in the world," Quebec Premier Jean Charest said on behalf of his counterparts.

"There is a shared concern about the future of NAFTA and we feel the federal government needs to be very vigilant in defending NAFTA and making it very clear that if Americans choose to question this trade agreement everything will be on the table," he added.

http://www.canada.com/edmontonjournal/news...11-0ae4bd999278

 

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U of A residence to be sprayed for bedbugs

EDMONTON - An outbreak of bedbugs at a University of Alberta residence is prompting the school to send in exterminators to fumigate the entire building.

Residents of Newton Place, an apartment-style residence that is home to many international students, have been told pull all their furniture away from the walls so pest control staff can battle the bugs.

Half the 20-storey building will be sprayed this weekend, with the other half to be done the following weekend. Students must stay out of their rooms for four hours after the fumigation.

http://www.canada.com/edmontonjournal/news...4e-aa585f6567c7

 

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Hot-cold house sales steadying

EDMONTON - By the end of the year, Edmonton could get something it hasn`t seen for several years -- a "normalized" housing market, as homes for sale dry up and prices drop.

That`s the forecast in the national House Price Survey and Market Survey Forecast released Thursday by Royal LePage Real Estate Services.

A soaring number of homes put on the market -- especially by builders and speculators -- in the last year softened the city`s housing market during the second quarter, the report said.

http://www.canada.com/edmontonjournal/news...43-1546624b1311

 

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Chinatown fest reflects growth of community

The annual Chinatown Street Festival is growing in size and attendance, and some say it mirrors the growth and confidence of the community itself.

At the awareness launch for the eighth annual event, members of the Chinese community spoke excitedly about how they`re hoping to expand the festival, which started in 2000.

About 35,000 people attended that first event, and organizers expect more than 50,000 to come this year. The 8th annual Chinatown Street Festival will run Aug. 16, from 10 a.m. to 8 p.m., on 3rd Avenue and 1st Street S.E.

http://www.canada.com/calgaryherald/news/c...bd-8e4ebf5bb276

 

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Alberta building projects mushroom

The total value of major construction projects in Alberta ballooned to more than $273 billion by the end of June, according to Alberta Finance and Enterprise -- an increase of more than $90 billion from June 2007.

The government department`s inventory lists projects in the province valued at $5 million or greater that have recently been completed, are under construction or will begin construction within two years.

"There`s a lot of investing happening now in Alberta -- a lot of faith and a lot of goodwill," said Jason Maloney, spokesman for Alberta Finance and Enterprise.

http://www.canada.com/calgaryherald/news/c...e7-5845364d3c1d

 

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Calgary home prices slide as Canada chalks up gains

A survey by a national real estate firm shows house prices in Calgary in the second quarter of this year declined in three categories -- detached bungalow, standard two-storey and standard condominium -- compared with a year ago, while national averages all increased.

According to the House Price Survey and Market Survey Forecast released Thursday by Royal LePage Real Estate Services, the average price drops in the Calgary market were 4.7 per cent for a detached bungalow, to $438,122, six per cent for a standard two-storey home, to $437,744, and five per cent for a standard condominium, to $285,033.

http://www.canada.com/calgaryherald/news/c...a2-1ff585b58578

 

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$1B hospital deal an `amazing milestone`

EllisDon has signed a billion-dollar contract with the Calgary Health Region to construct the first phase of the new South Health Campus.

The construction company has 20 years experience working with the CHR on other projects including the new Alberta Children`s Hospital and currently on the McCaig Tower at the Foothills Medical Centre.

"This is truly an amazing milestone for EllisDon," said Geoff Smith, EllisDon`s president and CEO, of the $1.076 contract. "A $76-million contract is a great achievement anywhere in EllisDon, but when you tack a billion onto the front of that, it sort of takes the breath away."

http://www.canada.com/calgaryherald/news/c...c5-bb8caca5a058

 

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Waterfront guidelines pass another hurdle

Sylvan Lake town council is one step closer to approving a waterfront district with strict architectural guidelines.

After a public hearing on Monday, town council gave second reading to a bylaw to create a Waterfront Direct Control District.

Third and final reading will be considered on Aug. 11.

Mayor Susan Samson said some people who attended Monday`s meeting expressed concerns with the rezoning because they wouldn`t have the ability to appeal council decisions.

http://www.albertalocalnews.com/reddeeradv...her_hurdle.html

 

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Officials seek public input about Buffalo Lake plan

Buffalo Lake`s popularity is on the rise, and surrounding municipalities want the public`s help in future planning. A pair of workshops are scheduled for Saturday to get feedback on an updated Buffalo Lake Intermunicipal Development Plan.

"This is the first step in the process," said Robert Jenkins, Stantec Consulting`s project manager for the plan. "We`re getting people together to identify issues with the lake, (and to) get a sense of how they see the future of the lake."

http://www.albertalocalnews.com/reddeeradv..._Lake_plan.html