AB Economic Fundamentals 2008-10

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1008CALG
City has proposal to buy Cecil

The city will move forward with a review of the Cecil Hotel`s bar licence next week, even though council could sign off on a deal to purchase the downtown landmark by the end of the year.

The tavern is in a position to have its business licence suspended at next Tuesday`s hearing after police filed a complaint.

While the basis for the complaint hasn`t been divulged, sources have previously said there has been an increase in police and EMS calls to the hotel and bar in the past few months with concerns about drug dealers and prostitutes causing problems in and around the building.

http://www.canada.com/calgaryherald/news/c...bd-39e71c201084

 

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1008ALTA
Enerjet to ferry oilsands workers

A group of former WestJet Airlines Ltd. executives on Monday launched the new corporate name and identity of their latest charter airline venture, Enerjet.

Formerly known as NewAir & Tours, the fledgling charter service now aims to cater to the workforce travel needs of Alberta`s industrial sector, among others, said Tim Morgan, Enerjet president and WestJet co-founder.

http://www.canada.com/calgaryherald/news/c...60-8b9d64a52e83

 

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1008ALTA
Natural gas forecast to set record high

U.S. natural gas prices are still expected to set a record high this year, but booming natural gas production and fears of a recession prompted industry analysts to sharply lower their expectations, according to a Reuters poll released Monday.

"The big story is the huge rebound in domestic production, which caught a lot of people off guard, and that could be the story for next year as well," said Earl Sweet, managing director at BMO Capital Markets in Toronto.

http://www.canada.com/calgaryherald/news/c...70-a9c7c4bdf9ec

 

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1008CALG
No tent city in our backyard

City green spaces are not likely to become a haven for Calgary`s homeless, despite a ruling by B.C.`s Supreme Court allowing overnight camping in Victoria parks, says bylaw boss Bill Bruce. Last week Justice Carol Ross struck down a bylaw by Victoria`s city council that would have prevented homeless people from setting up tents and sleeping in parks, ruling there was insufficient shelter space and some had no choice other than to sleep outside.

http://calsun.canoe.ca/News/Alberta/2008/1...151776-sun.html

 

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1008ALTA
Imperial, EnCana among top 50 on global oil, gas producers` list

Canadian oil companies have secured five of the 50 top spots on a ranking of the world`s top 250 energy companies compiled by global energy information provider Platts.

Led by Imperial Oil, at number 30 in the world order, the remaining companies include EnCana (35), Petro-Canada (43), Husky Energy (44) and Suncor Energy (46). A total of 19 Canadian companies made Platts` list, which includes oil and gas companies as well as other energy producers.

http://www.canada.com/windsorstar/news/bus...38-8ff21649ce0c

 

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1008REDR
Care centre approved

Work is expected to begin this year on a 103-unit supportive living facility on Red Deer College lands.

The three-storey building, which will be built by Bethany Care Society and connected to the existing Bethany CollegeSide long-term care centre, received a green light from Red Deer`s municipal planning commission on Monday. In addition to approving the site plan for the project, the commission authorized the development as a discretionary use and reduced the minimum parking requirements from 133 stalls to 132.

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

 

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1008EDTN
Homeowner fees on the rise

EDMONTON - One city councillor questions the costs residents will face next year when waste management is converted to a city-run utility funded by user fees instead of fees and property taxes.

The proposed city budget shows the typical homeowner`s fees will rise to $319 in 2009, up $137, while taxes will drop by $52, leaving a total hike of $85, said Coun. Amarjeet Sohi.

"That was my fear, that we will take out of this pocket and put back a little bit more, and that`s what`s happening here," he said. "It`s been hidden, that`s my concern."

http://www.canada.com/edmontonjournal/news...03-a3b7ceeb217f

 

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1008CALG
Developer makes offer on golf course

A Calgary developer has made a conditional offer to buy the Shaw-Nee Slopes Golf Course.

Chris Davis, lawyer for Geo-Energy Enterprises, said interest has been registered on the title and the developer hopes to work with the city and the surrounding community.

"The developer wants to work with the community with respect to the green space the community has currently, try to accommodate them as much as they can," Davis said.

http://www.canada.com/calgaryherald/news/c...f6-b1da9fb30f2c

 

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1008CALG
Emirates pitches Calgary flights

In a perfect world, Emirates Airline would be able to offer a daily flight to Calgary in about six months` time.

But with little success thus far in convincing Transport Canada to expand the Dubai-based airline`s presence in Canada beyond the three flights per week currently permitted -- which all go to Toronto -- Emirates instead took its business case to a blue-chip crowd at the Calgary Chamber of Commerce.

http://www.canada.com/calgaryherald/news/c...d0-83f91fd05e3d

 

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1008ALTA
Mexico ends ban on Alberta cattle

Agriculture - Mexico has lifted a two-month-old ban on imports of breeding cattle from Alberta, imposed after the discovery of Canada`s 14th case of mad cow disease in the province.

Trade of all breeding cattle born after January 1999 has resumed, said federal Agriculture Minister Gerry Ritz.

http://www.canada.com/calgaryherald/news/c...61-9a6e93fd44d2

 

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1008REDR
Infestation rising in West Country

Foresters are mounting an offensive on mountain pine beetles in West Central Alberta after a rising number were found in the region which has been relatively unscathed until now.

Government and forestry company officials will be removing any infested trees and burning them this winter to prevent the highly destructive pest from invading.

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

 

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1008EDTN
We lack strong presence in Ottawa

There is an actual discussion, among intelligent people, about how Edmonton -- specifically Edmonton-Strathcona -- will be punished by the Prime Minister`s Office for electing an NDP Member of Parliament.

The fact that this is a serious concern for any thinking person is worrisome for the future of democracy in this part of the country, which is in desperately bad shape and becoming worse with every election.

http://www.canada.com/edmontonjournal/news...45-b4a427cb2228

 

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1008EDTN
Local sunny breaks amid economic clouds

EDMONTON - Hi there. It`s me again, Mr. Happy Talk. Hope you`re having a wonderful day. I certainly am.

As noted Tuesday, after writing dozens of bearish columns on crumbling stock markets and the wobbly U.S. economy, I`ve had it with bad news. This week, I intend to be resolutely cheerful.

Who really cares that equities markets plunged again Wednesday? Not me. After last week`s (entirely predictable) sucker`s rally, the latest 500-point train wreck was as inevitable as snow in November.

http://www.canada.com/edmontonjournal/news...2a-5cf46f0541d5

 

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1008CALG
Civic tax hike could near 10%

Along with increases to water and garbage levies next year, Calgarians could be saddled with a general tax hike nearing double digits.

Joe Ceci, who until Monday was vice-chairman of council`s finance committee, said Wednesday the tax increase is expected to be just under 10 per cent.

http://www.canada.com/calgaryherald/news/c...f7-e51434c52708

 

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1008ALTA
Alberta road quality ranked seventh in nation

Poor roads may be contributing to higher numbers of fatal heavy truck collisions on Alberta highways, says a new report.

Truck driver Dave Nickel, agrees with the findings, saying a simple rut can cause a disaster in the blink of an eye.

"You drop a wheel into a big pothole, it`s going to send everything bouncing around," said Nickel, who`s been driving a truck for 32 years. "It leads to a lot of cargo damage, too."

http://www.canada.com/calgaryherald/news/c...8c-974d4ecb0df7

 

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1008ALTA
Population growth key factor for market


Estimates of Alberta`s population breaching the five-million mark are almost certainly exaggerated, but the province is poised for continued growth, says the research director of the Canada West Foundation. Robert Roach told the 1,300 delegates at the Calgary Real Estate Forum yesterday by 2031, Alberta`s population will grow to 4.14-million people, most of whom will flock to the province`s urban centres.

http://calsun.canoe.ca/Business/2008/10/23/7173056-sun.html

 

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1008ALTA
Oil predicted to rebound above $100 US

On a day when the price of oil plunged by more than $5 US a barrel to a 16-month low below $67, one of the country`s top economists and an oilpatch expert told the city`s commercial real estate industry that oil will rebound to more than triple digits next year.

Before about 1,300 delegates at the Calgary Real Estate Forum on Wednesday, Jeff Rubin, chief economist for CIBC World Markets, said four of the past five global recessions were triggered by huge spikes in oil prices, which peaked at $147 in July.

http://www.canada.com/calgaryherald/news/c...da-a99475a195c4

 

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1008CALG
Retail growth driving downtown renewal

When Graham O`Connor relocated his fashion stores from 7th Avenue in the downtown core to the former Valentine Volvo site on 1st Street S.W. in 2002, there were many skeptics who thought he`d made a big mistake because of the street`s bar scene reputation. He did face some problems at the start, but his investment in a new, standalone retail store has proved a real success, primarily thanks to the renaissance that is continuing along the whole street.

http://www.canada.com/calgaryherald/news/c...a5-debd37ece382

 

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1008ALTA
Alberta`s economy in good postion, says ATB economist

Todd Hirsch didn`t use graphs and bar charts to describe Alberta`s economic situation when he spoke in Red Deer Wednesday night.

Instead, the senior economist with ATB Financial produced a picture of a cork.

"Alberta`s a little bit like a cork floating on an ocean of economic turbulence," he explained, citing generational low unemployment rates, labour shortages in most industries and housing prices that have remained strong relative to other places.

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

 

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1008EDTN
City gears up for Expo Bid

EDMONTON - Edmonton is moving ahead with the biggest event in the city`s history after a committee recommended Thursday putting together detailed information for a bid to host Expo 2017.

Staging the world`s fair would cost an estimated $1.6 billion to $2.3 billion, draw more than one million tourists to the city and could require up to 40,000 volunteers, but Coun. Karen Leibovici said Edmonton has the capacity to pull it off.

http://www.canada.com/edmontonjournal/news...6e-c2a30e10031e