BC Economic Fundamentals

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Buyer backs out of Harmac purchase

VANCOUVER -- Asia Pulp & Paper terminated a deal yesterday to buy three pulp mills and a sawmill from insolvent Pope & Talbot, sending shock waves through mills in British Columbia where the future of more than 1,000 workers is now in jeopardy.

Pope & Talbot reported yesterday that APP subsidiary PT Pindo Deli has delivered written notice of the termination of a $231-million purchase agreement for the mills, but was willing to discuss "mutually acceptable alternative transactions."

http://www.canada.com/victoriatimescolonis...b2-91b183c02047

 

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Island home sales rising

Vancouver Island residential sales numbers rose month-over-month as did the average price of a single-family home for the area north of Greater Victoria.

http://www.canada.com/victoriatimescolonis...58-4ef9390c76bc

 

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Only 31 per cent of us respect politicians, new poll discovers

B.C. politicians get no respect these days.

Only 31 per cent of B.C.`ers had a "great deal" or a "fair amount" of respect for politicians, while 62 per cent had "not much" or "very little" respect, according to a new poll from Angus Reid Strategies called Respectable Professions.

But that is still better than the national average, where only 25 per cent of Canadians respect politicians, and 67 per cent do not.

http://www.canada.com/theprovince/news/sto...02-9da1c4133ced

 

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Police pot search upsets homeowner

Drew Smith drove home on his coffee break one morning to find a shocking notice stuck to the front door. The posting, from the city of Coquitlam, warned that the premises were being used as a marijuana growing operation.

"I just about fainted," said Smith, a construction supervisor.

The longtime Lions Club fundraiser, who dresses as the Easter Bunny to hand out candy to children every spring, had been found guilty without due process.

http://www.canada.com/vancouversun/news/st...01-0d35a7df4533

 

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Colleges graduate into universities

As news of Capilano College`s intense lobbying efforts to become a university spread, Capilano`s dean of business programs Paul Dangerfield got a call from a prospective student in Ontario.

"He said, `Are you a university?` and I said, `We`re not there quite yet,` " said Dangerfield. "He said, `Okay, I guess I`ll have to find somewhere else to go.` "

http://www.canada.com/vancouversun/news/bu...9f-f09c0bbeabb5

 

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Firm taps into market for smart water use

Getting involved in a documentary about water shortages and water contamination led a Kelowna man to start a company that he hopes will make a difference with both problems.

The Watergeeks Laboratories, a 30,000-square-foot research lab and manufacturing facility, makes a plethora of products ranging from the practical (a contaminant-free, reusable water bottle with filter) to the esoteric (an anti-bacterial toothbrush spray), all of which are aimed at conserving water or keeping the consumer healthy.

http://www.canada.com/vancouversun/news/bu...49-c673cacaf1dc

 

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Fraser Valley near record for home inventory

The Fraser Valley hit a near-record high for total inventory of homes for sale in April and Greater Vancouver listings also took a substantial jump, according to reports from respective real estate boards, as markets continued to slow.

The Fraser Valley Real Estate Board reported 4,458 new listings added to the Multiple Listing Service in April, a 53-per-cent jump from the same month a year ago. Total listings of 11,111 is up 43 per cent from a year ago.

http://www.canada.com/vancouversun/news/bu...ab-78d1eae9d682

 

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Strength of the building industry depends on developer diversity

As it stands, B.C. is the most expensive province in which to live in Canada. The reality is that Vancouver real estate, although costly, is showing no signs of correcting in the near future. This has led many of us to tailor our housing needs to urban living and/or embrace the working commute.

Today, more than 540 developments currently have suites available for sale in B.C. Last year, more than 750 developments sold their last homes and completed construction, turning over more than 32,000 keys to purchasers without incident. These homes were built by more than 400 developers/builders provincewide.

http://www.canada.com/vancouversun/news/we...95-c0d1371bbe0a

 

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Result Energy joins rush to B.C. shale

A Calgary junior oil and gas company has sold its southwest Saskatchewan shallow gas assets and is joining the rush to the Horn River Basin shale gas play in northeast B.C.

Result Energy Inc. will use the $11.8 million it realized by selling its Dodsland assets to clean up its balance sheet and concentrate on adding to its holdings in B.C., said president and CEO Bill Matheson.

http://www.canada.com/calgaryherald/news/c...58-0fafcad6ff67

 

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Okanagan condo projects launched

Renascence Developments Corporation has announced the launch of a number of new condominium communities in the B.C. Municipality of Westside.

Located on the west side of Okanagan Lake directly across from the city of Kelowna, the new district includes the town of Westbank.

http://www.canada.com/edmontonjournal/news...fb-1b5004d76420

 

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Squamish-Whistler trail completion eyed in `09

The long-envisioned Sea to Sky Trail project continues to move forward, with some construction eyed for this year and plans to complete the trail between Whistler and Squamish by the end of 2009. The Resort Municipality of Whistler (RMOW) and the District of Squamish have each committed about $820,000 in funding for the project, while the Whistler Blackcomb Foundation has offered a grant for $300,000 more. Grant applications for B.C.`s Local Motion program were also submitted in March to match the municipal funding, Frank Savage, RMOW planner, told Council at the April 21 meeting.

http://www.whistlerquestion.com/madison/WQ...EB?OpenDocument

 

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District to create its own carbon tax

A new carbon tax is headed for Squamish aimed specifically at the municipality. On Tuesday (April 29) council gave preliminary approval to put $12,945 in the operational budget for a carbon tax reserve fund. The money is a rough estimate of the amount the municipality would owe in carbon tax based on its fleet, streetlights, and other municipal services that eat up energy in one year.

http://www.squamishchief.com/madison/WQues...92?OpenDocument

 

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April 30, 2008 - $179 million announced for new hospital

FORT ST. JOHN – The announcement of provincial funding for the new Fort St. John hospital has left questions about to fate of the current facilities. Completion of the new hospital is not expected until 2011, said chair of Northern Health Charles Jago, and discussions are taking place to determine the older building`s future.

"We will be consulting with people in the community to make sure that it has a continuing role in health care and we define what that is," he said. For now, no decisions have been made.

http://www.northeastnews.ca/index.php?opti...4&Itemid=48

 

[joeiannuzzi]

Merchants miffed over 42% tax hike

FORT ST. JOHN – Business owners are up in arms over the city`s plan to hike business property taxes 42 per cent.
The city revealed the potential increase at a public discussion of the 2008 budget April 23, when it was also revealed that residential property taxes could jump 5.4 per cent. Local business owner Rick Bourdon said he spent a couple of hours talking to others and said:

http://www.northeastnews.ca/index.php?opti...2&Itemid=48

 

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Good bookkeepers are an asset for your business

Keeping track of your company`s financial data is vital.

It is so important, that you cannot leave it to chance. Your ability to secure a bank loan and your tax liability all stem from the accuracy of your books.

So do you do it yourself or do you hire a bookkeeper? Will you use a manual system or a computer system, or a modified version of manual records kept on the computer?

http://www.bclocalnews.com/okanagan_similk...s/18036649.html

 

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Airline looking at Kamloops

Residents looking to avoid a five-hour drive to Whistler may have a new option by the end of the year.

Merlin Air, a fledgling Pemberton-based charter airline, has Kamloops in its sights by offering a charter service to the Pemberton Airport, 30 kilometres north of Whistler.

http://www.bclocalnews.com/bc_thompson_nic...s/18551254.html

 

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Mentor can make a difference for business

Ask anyone who has enjoyed success in any line of work how they did it, and they`ll all agree that you`ll never make it without guidance from special people who`ve already walked your path.

Rarely does anyone have all the skills, knowledge, perspective, and experience to take an idea from a concept to a mature business without the help of others. More importantly, why would any one want to?

http://www.bclocalnews.com/vancouver_islan...s/18183124.html

 

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Keith Vass Victoria News More workers needed

The region is experiencing unprecedented job growth, but cost of living could be the downfall

There`s no doubt it`s a job-seekers` market in Victoria.

Record low unemployment levels, run at less than three per cent, and more people participate in the labour force than ever. Only 6,000 people were without work in the Capital Region in 2007, half the number from the previous decade.

http://www.bclocalnews.com/vancouver_islan...s/18480844.html

 

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Taxes to jump 3.9 per cent?

Burnaby`s mayor and councillors will consider a 3.95 per cent property tax increase Monday.

In December, council asked staff to trim a proposed 4.41 per cent boost increase to below four per cent.

To reach that goal, the city will delay hiring some firefighters until later in the year and put off maintenance work, city finance director Rick Earle said.

http://www.canada.com/burnabynow/news/stor...a4-5a692c662edb

 

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Region tops list for high incomes

Think West Van is where the high-income earners are? Think again.

They`re more likely to be your neighbours in Belcarra and Anmore, according to census data released Thursday.

Belcarra and Anmore ranked first and second, respectively, when it came to median incomes for individuals in 2005. The median income in Belcarra was $47,075, while the corresponding figure in Anmore was $38,996.

http://www.canada.com/coquitlamnow/news/st...74-8789105688b2