AB Economic Fundamentals 2008-11

[joeiannuzzi]

1108CALG
Council going ahead with $25M bridge plan

As the battle over the city budget nears, some of the expected tension spilled over into city council when plans for two pedestrian bridges -- lightning rods for criticism of city spending -- were left intact Monday.

The debate over the $25-million plans, which include cash for designing two "iconic" bridges over the Bow River and building one of them, got heated at one point, forcing Mayor Dave Bronconnier to remind aldermen to respect their colleagues.

http://www.canada.com/calgaryherald/news/s...dc-538b9a8b472d

 

[joeiannuzzi]

1108ALTA
Alberta has large stake in U.S. election outcome

No matter who wins the presidential race today in the United States, American energy and environment policies are expected to shift with the new leader -- with potentially big ramifications for Alberta and Canada`s economy and climate change strategy.

Both Republican John McCain and Democrat Barack Obama have taken great pains to highlight the differences between their environmental policies and those of George W. Bush`s administration.

http://www.canada.com/calgaryherald/news/s...88-360395892d62

 

[joeiannuzzi]

1108CALG
Cutting home prices key to sales success

MLS sales in Calgary metro for condos and single-family homes plunged in October compared with a year ago -- a trend that has continued throughout this year.

Statistics released Monday by the Calgary Real Estate Board show condo sales were down 20.4 per cent to 399 from October 2007, with 501 sales, while single-family home sales dropped by 26.3 per cent to 820 from last year`s 1,113.

http://www.canada.com/calgaryherald/news/c...b9-f69bd4939661

 

[joeiannuzzi]

1108ALTA
World reserves seen as abundant

Global oil reserves are plentiful and will last for many years to come, said Nansen Saleri, who until last year oversaw the world`s largest reserves in top exporter Saudi Arabia.

Some industry observers have argued oil supplies were at, or near, their peak and have questioned whether big producers were sitting on as much oil as they claim.

http://www.canada.com/calgaryherald/news/c...d2-9355463936f2

 

[joeiannuzzi]

1108CALG
Calgary sets aside $50M for tunnel

Plans to build a tunnel to extend Airport Tr. aren`t buried yet after council agreed yesterday to set aside $50 million for the project, but must now rely on drumming up to $130 million more to make it a reality. Council backed a call by Ald. Jim Stevenson to tap into city infrastructure dollars to entice the provincial and federal governments to chip in to build a tunnel beneath a planned new runway to ensure northeast communities aren`t cut off following the airport`s $3-billion expansion.

http://calsun.canoe.ca/News/Alberta/2008/1...297401-sun.html

 

[joeiannuzzi]

1108REDR
Rec falls behind

The development of cultural amenities in Red Deer is lagging and will continue to fall behind without proper investment, Red Deer city council heard on Monday.

Calgary consultant Gary Debney presented a draft directional plan on recreational and cultural needs over a 25-year period.

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

 

[joeiannuzzi]

1108REDR
No plans to sell land

The amalgamation of Community Savings into a provincewide credit union may not have ended the financial institution`s designs on Gasoline Alley.

Steve Blakely, president and CEO of Servus Credit Union Ltd. — which was created Nov. 1 from the merger of Community Savings, Servus and Common Wealth credit unions — said Monday that an 11-acre parcel of land south of Red Deer could still be an important part of Servus`s plans.

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

 

[joeiannuzzi]

1108REDR
Community Savings merger official

The amalgamation of Community Savings with two other Alberta credit unions officially occurred on the weekend. But aside from new name tags and business cards for staff, and updated stationery, legal documents and temporary signage in the branches, it`s unlikely members noticed much of a difference on Monday.

Red Deer-based Community Savings struck a deal with Servus and Common Wealth credit unions earlier this year to merge their operations into a single entity, effective Nov. 1.

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

 

[joeiannuzzi]

1108EDTN
Royal Alex plans `amazing` heart centre

EDMONTON - A new heart centre planned at the Royal Alexandra Hospital will expand the research and treatment hub that already serves more than 50,000 patients each year, helping many avoid having their chests cracked wide for open-heart surgery.

With the launch of an $8-million fundraising campaign by the hospital`s foundation, two new catheter labs with advanced technology will allow doctors to reach more blocked arteries with narrow tubes slipped into tiny holes in the wrist or groin. Pacemaker programs will be expanded.

http://www.canada.com/edmontonjournal/news...fa-4129d83e075a

 

[joeiannuzzi]

1108EDTN
More transit, fewer roads: report

EDMONTON - Edmonton should spend less money widening roads for commuters and boost downtown parking rates to help lure more passengers to public transit, the city`s transportation general manager says.

About 10 per cent of local trips are made on transit, and Bob Boutilier said Tuesday one obstacle to increasing that figure is it`s often easier to drive around the city than to take the bus.

http://www.canada.com/edmontonjournal/news...ec-6d3e18f86fb6

 

[joeiannuzzi]

1108EDTN
October house sales, prices dip

EDMONTON - Homebuyers paid an average price for a resale home in October that was nearly nine per cent lower than the same time last year.

Still, the number of homes sold slipped by nearly three per cent from October 2007.

But the group representing Edmonton-area realtors called it a normal October in Edmonton`s resale housing market.

http://www.canada.com/edmontonjournal/news...34-d697985d0e2e

 

[joeiannuzzi]

1108ALTA
Alberta planning to limit redirection of water

Environmental groups are claiming a small victory with an Alberta government move toward limiting the amount of water that can be used for purposes outside of those set out by original water licences.

Those who support irrigation districts having flexibility to provide water to municipalities or developers also think the Alberta government`s draft policy is a measured strategy.

http://www.canada.com/calgaryherald/news/s...b0-b4586cf2f570

 

[joeiannuzzi]

1108CALG
Calgarians cheer Obama victory

An U.S. election that was heralded as one for the ages held true Tuesday north of the border, as Calgarians young and old poured out to events across the city to celebrate Barack Obama`s victory and be a part of political history.

Indeed, Obama`s and John McCain`s battle for the White House sparked unprecedented interest in Calgary and across the country.

http://www.canada.com/calgaryherald/news/s...a8-f060ae7fc860

 

[joeiannuzzi]

1108CALG
Global turmoil threatens commercial real estate

Calgary`s commercial real estate sector stabilized in the third quarter of this year, but storm clouds are on the horizon for the rest of 2008 and into the early part of 2009 due to worldwide economic turmoil.

In the past quarter, vacancy rates in the city`s commercial real estate market remained relatively low compared with the rest of Canada, said Greg Kwong, regional managing director for CB Richard Ellis in Calgary.

http://www.canada.com/calgaryherald/news/c...52-f041cb5705f2

 

[joeiannuzzi]

1108REDR
Next year a big year for Springbrook infrastructure

Springbrook residents will put up with construction crews for only one more year while awaiting completion of new water and sewer systems.

In a report to Red Deer County council on Tuesday, operations manager Frank Peck said Phase I of the construction project was completed this year. However, Phase II was not tendered for this year as planned.

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

 

[joeiannuzzi]

1108REDR
Annex hearing delayed

A hearing on the City of Red Deer`s proposal to annex 7,500 acres of county land was adjourned on Tuesday in order for more people to be notified about the hearing.

Don Blyth came before the Alberta Municipal Government Board with concerns that his father and a half a dozen family members, who are mineral owners of approximately four quarter sections of land in the northeast and southeast, weren`t notified by letter about the hearing. "The city should notify all title owners, be it surface or any title holders who are registered with the province of Alberta," Blyth said.

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

 

[joeiannuzzi]

1108EDTN
Arlington demolition postponed

EDMONTON - The walls of the historic Arlington Apartments won`t come tumbling down for at least another month because the owner has appealed a demolition order, a city official says.

The ruins of the 99-year-old downtown building have been exposed to the elements since it was gutted by fire in 2005.

http://www.canada.com/edmontonjournal/news...d1-fda729bfc5ba

 

[joeiannuzzi]

1108ALTA
`Herd of negativity` tramples Alberta`s good-news story

Edmonton / Richard Corriveau has a bone to pick with the media -- the Toronto-based national media, in particular -- and I think he`s got a point.

Corriveau`s beef? One-sided, overly simplistic, obsessively negative coverage of the economic slowdown in Alberta.

While Ontario and Quebec do face some tough challenges, Corriveau -- Canada Mortgage and Housing Corp.`s regional economist for the Prairies and territories -- says Alberta is in far better shape to weather the storm.

http://www.canada.com/edmontonjournal/news...d3-dbd72cec41bc

 

[joeiannuzzi]

1108EDTN
Forecast brightens for single-family housing starts in 2009

EDMONTON - Edmonton`s year-long slide in single-detached housing starts will turn around sometime in 2009, delegates to a Canada Mortgage and Housing Corporation conference heard Wednesday.

"We do expect a turnaround in single-detached starts in 2009 in Edmonton and Calgary but the question is when," Richard Goatcher, CMHC`s senior market analyst for the prairies and territories, told the agency`s housing outlook conference.

http://www.canada.com/edmontonjournal/news...33-3aeff26eeb49

 

[joeiannuzzi]

1108ALTA
Alberta budget may need `adjustments`

Premier Ed Stelmach said his government will have to reassess its spending priorities, if the price of oil doesn`t rebound.

His comments come a day after a top American engineering firm predicted $40 billion worth of oilsands projects won`t go ahead as a result of the falling market value of oil, which closed at $65 US a barrel Wednesday.

At this price, Stelmach said "adjustments" will have to be made.

http://www.canada.com/calgaryherald/news/s...40-9f37f6fffbc8