AB Economic Fundamentals 2008-12

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1208ALTA
Swann in tough to win Alberta

Newly minted Liberal leader David Swann has a comfortable cushion of support among Grit faithful but is up against the same mountain that has dead-ended his party in the past -- the province`s towering Tory stronghold, propped up by older and rural voters.

A Leger Marketing survey of 900 Albertans provided exclusively to the Herald shows Swann has the support of nearly half his party, with some of his strongest backing coming from young adults aged 25 to 39 years old.

http://www.canada.com/calgaryherald/news/s...82-1f821be0df48

 

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1208REDR
Fraud on upswing: RCMP

Red Deer City RCMP are reminding people to be extra cautious and conscientious this holiday season as numerous types of frauds and scams have been reported to RCMP over the last few months.

Whether being contacted in person, over the telephone, answering advertisements in newspapers or online, in some cases victims are being defrauded of sums of money. Several recent frauds have been identified.

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

 

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1208REDR
Petrochemical layoffs appear likely

The petrochemical industry is feeling the effects of the global economic slowdown, with belt-tightening expected to impact Central Alberta.

Al Poole, site manager of Nova Chemicals Corp.`s ethylene and polyethylene plants at Joffre, said on Monday that local cuts are expected, beginning with contractor positions and likely extending to Nova employees. He said he couldn`t comment on numbers at this time.

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

 

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1208ALTA
Oil, gas lead drop in commodity prices

Prices of basic materials continued to plunge in November, tumbling 9.4 per cent from the month before as economic conditions worsened worldwide, Scotiabank reported Monday in its monthly commodity-price index.

The bank`s oil and gas index led the plunge, falling 17.5 per cent month-over-month, after leading the declines in October with a 21.8-per-cent slide. Crude touched a new 52-week low Monday of $39.91 and production cuts by OPEC failed to turn bullish sentiment.

http://www.canada.com/edmontonjournal/news...ff-7acb7b36f8a8

 

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1208CALG
Property tax appeal gets capped

Appealing the city`s property tax just got a lot cheaper for home and business owners in Calgary. The province announced yesterday a cap of $650 effective Jan. 1, 2009, on the amount municipalities can charge owners of multi-family homes and commercial properties to start the appeal process. Single-family home and farm owners will be capped at $50.

http://calsun.canoe.ca/News/Alberta/2008/1...834826-sun.html

 

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1208ALTA
Alberta remains No. 1 greenhouse gas emitter

Alberta kept the dubious honour of being Canada`s premier industrial greenhouse gas emitter in 2007, Environment Canada says.

According to reporting from major industrial facilities, emissions in Alberta have increased five megatonnes, or about five per cent, since 2004 -- although there was a slight decrease in absolute emissions last year.

http://www.canada.com/calgaryherald/news/s...79-931a335b37d1

 

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1208ALTA
Economic woes batter consumer confidence

Consumer confidence in the western provinces dipped in December but still topped the rest of Canada, as worries over the global economic doom and gloom hit home. Judging from the jam-packed parking lots at Calgary malls, however, woebegone shoppers are willing to loosen the purse strings for some hardcore bargain shopping.

Released Monday, the Conference Board of Canada`s Index of Consumer Confidence showed the Prairie provinces fell 1.3 points in December to end the year at 76.8.

http://www.canada.com/calgaryherald/news/c...33-91e8241df455

 

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1208REDR (Sylvan Lake)
Better Sylvan access sought

Lacombe County is launching an initiative to improve access to Sylvan Lake, which is under increasing pressure from boaters and other water lovers.

Councillor Rod McDermand said lake access has been an issue for years and council decided in a meeting last week to pump some money into improving access.

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

 

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1208REDR
Medical building `to start shortly`

Work on an eight-story medical and commercial building north of the Red Deer Regional Hospital Centre is expected to begin shortly.

"We`re probably looking at a spring start," said Sherry White, one of the project`s managers.

A fall 2010 completion is being targeted, she added.

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

 

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1208EDTN (St. Albert)
St. Albert opts not to fund move of transmission line

St. Albert city council has decided not to put any money next year towards the relocation of a transmission line near Big Lake.

The line is known to kill waterfowl flying between the lake and neighbouring ponds and marshes. The issue has attracted more attention since Lois Hole Centennial Provincial Park was created in the area.

http://www.canada.com/edmontonjournal/news...af-dc4cf792fc58

 

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1208ALTA
No province immune to recession

Virtually all provinces will see their economies shrink next year, with Ontario and Alberta suffering a near two-per-cent contraction and with only Saskatchewan posting any growth at all at a marginal 0.6 per cent, a major Canadian bank forecast Tuesday.

"As Canada slides into recession, no region will be immune," TD Bank warned, adding that promised government stimulus can cushion the fall into recession but can`t stop it.

http://www.canada.com/edmontonjournal/news...09-23ab60641eff

 

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There will be no news items on Dec 25th and 26th but I will return on Saturday Dec 27th.

Merry Christmas everyone.

 

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1208EDTN
Bypass benefit

Edmonton stands to benefit from CN`s successful acquisition of a railway in the United States, says a company spokesman.

The U.S. Surface Transportation Board on Wednesday approved CN`s takeover of the Elgin, Joliet & Eastern Railway.

Karen Phillips, CN`s vice-president of U.S. government affairs, said the takeover will allow the railway`s freight traffic to bypass Chicago.

http://www.edmontonsun.com/Business/News/2...852931-sun.html

 

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1208CALG
Houses in transit

Homes that are being removed to make way for the west leg of the LRT will have new lives with the city and the Tsuu T`ina First Nation, says the city`s director of corporate properties and buildings. With deals in place for 22 of 27 residential properties, most will be relocated to be used by the city`s fire and parks departments while a recently signed deal with the neighbouring reserve will see four others moved there for reuse, said Sharon Purvis.

http://calsun.canoe.ca/News/Alberta/2008/1...859966-sun.html

 

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1208ALTA
Knight ready for royalty flap

Mel Knight, pulled from the backbench twilight and thrust into the spotlight of the powerful energy ministry two years ago, is looking back at yet another year where he has overseen some of the Stelmach government`s more controversial decisions. As the clock counts down to Jan. 1, 2009, a day energy executives will likely remember as a black day for their industry, the MLA from Grande Prairie-Smoky was forced repeatedly to parry jabs of criticism over the new royalty framework.

http://calsun.canoe.ca/Business/2008/12/27/7859896-sun.html

 

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1208ALTA
Heavy oil firms try to weather slump

Producing heavy oil in Canada, much of which comes from Alberta`s big oilsands deposits, is a tough business and it`s getting tougher.

The tar-like crude trades at a discount to lighter varieties. That wasn`t a problem in July, when benchmark oil prices climbed above $147 US a barrel, but after prices slid by more than $100 a barrel in the months that followed, some heavy oil producers are beginning to feel squeezed.

http://www.canada.com/calgaryherald/news/c...14-69091b8d8726

 

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1208CALG
Record Year

On the surface, actually above it, all seems to be clicking along well for Calgary`s multi-family housing industry--but looks can be deceiving.

While cranes continue to punch the city`s skyline with continuing highrise condominium development, there is a dramatic change just over the horizon, says Canada Mort-gage and Housing Corp.

http://www.canada.com/calgaryherald/news/n...8a-a017cead5bcb

 

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1208CALG
Waiting for rebound

Single-detached homebuilders would just like to take 2008 and run it through a shredder.

That would be the easy thing do to--erase any memories of it and simply move on.

But the industry took the opportunity to look in on itself in preparation for a return to a more normal marketplace.

http://www.canada.com/calgaryherald/news/n...92-0005d15670ac

 

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1208EDTN
Multi-family housing pace declines within Edmonton

Multi-family housing construction in the Edmonton area was almost non-existent in November, says a federal agency.

There was not a single apartment started--and work only began on 23 townhouses and 32 semi-detached homes, says Canada Mortgage and Housing Corp.

http://www.canada.com/calgaryherald/news/n...85-30238ff637cc

 

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1208CALG
What goes up must come down, says builder

What happened to the new housing industry in 2008? The simple, short answer is declining demand by consumers, combined with an abundance of resale homes and a dose of U. S.-injected economic turmoil.

http://www.canada.com/calgaryherald/news/n...4a-271686747e0e