SK Economic Fundamentals 2008-06

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Answers coming for McNab Park residents: manager

The main question McNab Park residents have -- when must they move out -- will be answered, and soon, says the property manager for the neighbourhood.

Gilbert Dobroskay, president of Guardian Commercial Real Estate Services, said all McNab residents will be receiving notices as quickly as possible this month with the dates they`ll have to vacate their homes.

On Tuesday, about 100 people attended an information meeting about the redevelopment of McNab Park but were left frustrated when many of their questions weren`t fully addressed.

http://www.canada.com/saskatoonstarphoenix...d0-d04ec785c930

 

[joeiannuzzi]

Rain KOs rail line

The loss of rail service in northwest Saskatchewan is hitting the forestry industry around Meadow Lake hard.

The rail line has deteriorated so much that trains haven`t run since April 11, forcing the three mills in the area -- an oriented strand board (OSB) mill, pulp mill and sawmill -- to find another way to get their product to market.

The line isn`t in operation because of safety concerns, said Mike Ogborn, managing director for Omnitrax Canada, which owns Carlton Trail Railway, the company that runs the section of line from North Battleford to Meadow Lake.

http://www.canada.com/saskatoonstarphoenix...78-3a7af38926d3

 

[joeiannuzzi]

Proposed downtown tower green technology showcase

Saskatoon`s next downtown landmark will be one of the most environmentally friendly buildings in the city.

Stoneset Equities has proposed a 28-storey tower with condos, rentals and assisted-living units on what`s currently the police station parking lot. CEO Tony Argento said he wants to go beyond LEED certification -- the recognized green construction standard.

That means enough green features to make David Suzuki weep -- rooftop gardens, reusing water, large atriums and power cogeneration.

http://www.canada.com/saskatoonstarphoenix...cf-0366f69691e3

 

[joeiannuzzi]

Building mixes condos, low-income rentals

Stoneset Equities` proposed tower will be unique in ways beyond its friendliness to the environment.

It will be an unlikely combination of shelter beds, assisted living units, market rental suites and condos starting at around $300,000.

Condo owners and renters wouldn`t necessarily cross paths often with clients of Lighthouse Supported Living, who have long-term disabilities or are living on low incomes. The tower would consist of three buildings separated by a courtyard. Lighthouse clients will have separate entrances and elevators than renters and condo owners.

http://www.canada.com/saskatoonstarphoenix...7c-382cb6ec58b2

 

[joeiannuzzi]

Cameco strikes new agreement with Russian company

Cameco Corp. will pay a higher price for uranium derived from dismantled Russian nuclear weapons starting in 2011.

Cameco struck a new agreement with the Russian company Techsnabexport (Tenex) due to the increase in the uranium price since the original deal was signed, Cameco announced Wednesday.

Based on the recent spot price of $60 US per pound, Cameco will pay Tenex an increase of about $18 US per pound on about one-third of its purchases during the last three years of the agreement. The amount is subject to inflation adjustments and changes in the spot price.

http://www.canada.com/saskatoonstarphoenix...b6-228b7dabd04f

 

[joeiannuzzi]

Construction industry hopes to attract workers

REGINA (SNN) -- A new labour market forecast predicts there will be less activity in the province`s construction industry after 2010, but demand for additional workers will remain strong as large numbers of older workers retire.

Michael Fougere, president of the Saskatchewan Construction Association, who sat on the committee that prepared the report, said the industry will need to replace 20 per cent of its workforce by 2016 to make up for losses due to retirement.

http://www.canada.com/saskatoonstarphoenix...be-cc82bb7cc8d7

 

[joeiannuzzi]

Gov`t plans to ease squeeze at pump

SASKATOON -- There could be relief on the way for Saskatchewan residents squeezed by soaring gas prices.

Premier Brad Wall said Thursday his government intends to look at ways to ease the pressure. But it wasn`t clear if that would be through a break at the pumps, by reducing the provincial tax, or something less direct.

People are paying nearly $1.40 per litre of gas at the pumps while the province is raking in record revenues for the sale of oil and natural gas rights. Year-to-date revenue now stands at $605.4 million, shattering the previous single-year record of $250.3 million set in 2007, according to a government news release on the status of the red-hot oil patch. The June sale alone raised $142.5 million.

http://www.canada.com/reginaleaderpost/new...54-f784da3a3086

 

[joeiannuzzi]

Ottawa finally OK`s project

After a long, frustrating wait, Ottawa has finally given the thumbs up to the IPSCO Place revitalization project.

"We`ve got the go-ahead," said Regina Mayor Pat Fiacco on Thursday.

"If I`m not mistaken, this will be the first major project that will be funded under the Building Canada Fund for municipalities."

http://www.canada.com/reginaleaderpost/new...fe-61509ebfe9b5

 

[joeiannuzzi]

Sask. still the `it` province

Saskatchewan`s economy will continue to lead the country in 2008 and `09, despite an expected softening of commodity prices during the forecast period, says RBC Financial Group assistant chief economist Paul Ferley.

Ferley told a group of RBC clients in Regina Thursday that the province should see 3.5-per-cent economic growth this year and 3.25 per cent next year, even if prices for the province`s commodity exports fall from their recent highs.

http://www.canada.com/reginaleaderpost/new...63-800b4232395b

 

[joeiannuzzi]

Oil plays drive up prices

The June sale of Crown oil and natural gas rights was the third-largest sale in Saskatchewan`s history, raising $142.5 million in revenue for the province, according to Saskatchewan Energy and Resources.

With the June sale, year-to-date land sale revenues total $605.4 million, smashing the previous, single-year record of $250.3 million set in 2007, with three sales to go.

It is also the third consecutive sale in excess of $100 million. In April, the province set a single-sale and calendar-year record of $265 million in land sale revenues.

http://www.canada.com/reginaleaderpost/new...d6-17e3559295cc

 

[joeiannuzzi]

Sask. exports surge

Saskatchewan exports in April were up -- way up -- according to Statistics Canada data released Thursday.

The data indicated the province had $2.5 billion in exports in April, which was up 44.8 per cent from April of last year.

Enterprise and Innovation Minister Lyle Stewart said the export numbers were great news.

http://www.canada.com/reginaleaderpost/new...36-378066db2828

 

[joeiannuzzi]

API full steam ahead

SASKATOON -- It`s been only seven months since Saskatoon`s Athabasca Potash Inc. (API) completed its initial public offering, and so far, says the company`s president, the market is happy to have it.

If the company, which is exploring for potash at its Burr project about 100 kilometres east of Saskatoon, keeps working toward its goal, shares in API will continue to rise, as will the potential of a new potash mine in Saskatchewan, said Dawn Zhou, API`s president and CEO.

http://www.canada.com/reginaleaderpost/new...ba-6f5b3abeec8b

 

[joeiannuzzi]

McNab Park owners aid tenants` moves

The owners of McNab Park are implementing a number of measures to provide help to residents who are going to have to find a new place to live during the next 10 months.

Letters were sent out this week to residents informing them the new owners -- a numbered Calgary company -- are waiving the requirement for 30-days notice when tenants are moving out. If tenants find a new place to live they only need to give 24-hours notice and they`ll receive the balance of their rent for that month, their damage deposit and pet deposit, if applicable, said Gilbert Dobroskay, president of Guardian Commercial Real Estate, which is managing the property.

http://www.canada.com/saskatoonstarphoenix...fb-24ac43ae1b19

 

[joeiannuzzi]

Atlantic company invests here

Saskatoon`s first big-box retail development, River City Centre, has been acquired by a Nova Scotia-based property management group.

Crombie Real Estate Investment Trust announced Thursday it has bought River City Centre, located in the city`s north industrial area on Circle Drive, for $27.2 million. The retail development includes tenants such as Staples, Dollarama, Giant Tiger, Sport Mart and Part Source.

http://www.canada.com/saskatoonstarphoenix...63-06e6dec94d47

 

[joeiannuzzi]

Wall trying to duck rules, says Calvert

Premier Brad Wall is touting Saskatchewan leadership in carbon capture and storage while trying to duck out of federal rules that will mandate the use of that technology in future oilsands development, the Opposition charged Friday.

NDP Leader Lorne Calvert pointed to little-noted comments Wall made in a March speech in New York where the premier said Saskatchewan would seek some exemptions from federal standards that will require carbon capture and storage for new oilsands projects after 2012 in order to reduce greenhouse gas emissions.

http://www.canada.com/reginaleaderpost/new...55-d8de67742ad9

 

[joeiannuzzi]

Mayo not ready to slow down

After bringing Saskatchewan Wheat Pool back from the brink of bankruptcy, rebuilding the company from the ground up, then mounting the biggest takeover in Canadian grainhandling history, you`d think Viterra CEO Mayo Schmidt would be ready to take a break.

If you think that, then you don`t know Mayo Schmidt.

"We`re not weary. We`re energized,`` Schmidt said in an interview is his office following release of the company`s second-quarter results earlier this week.

http://www.canada.com/reginaleaderpost/new...24-330164165878

 

[joeiannuzzi]

New bus depot almost finished

Construction crews are busy putting the finishing touches on the new Regina terminal and offices for the Saskatchewan Transportation Co. (STC).

On Friday, members of the media toured the new facility, which is expected to open in October. STC`s Tracy Fahlman told reporters that the company initially planned to move into the building in January, but construction was delayed by unforeseen projects, like removing old basements from the site and making improvements to the utilities at the location. The effects of the labour shortage also contributed to the delay, she said.

http://www.canada.com/reginaleaderpost/new...6d-b4090c906f21

 

[joeiannuzzi]

Long-awaited road work leaves residents shaking mad

Residents of the 600 block of McPherson Avenue are all shook up about a large pothole left in their street from winter construction.

The repair of a water main break last February has ruined the pavement on their street to such an extent their houses shake every time a city bus drives by, they say.

"I am so stressed out over this, I can`t even sleep," said Nina Benz. Her second-floor bedroom shakes so much she`s woken up at 6:30 a.m. most mornings.

http://www.canada.com/saskatoonstarphoenix...5b-ff88f08c87c4

 

[joeiannuzzi]

Saskatoon sets listings record

A record number of houses were listed on the Saskatoon market in May, while the number of sales dipped 37 per cent from a year earlier, the Canadian Real Estate Association (CREA) reported Friday.

It`s the second consecutive month that a listings record has been set in Saskatoon.

May saw 1,015 homes listed on the multiple listing service (MLS), a 43.6 per cent increase over the 706 homes listed in May 2007.

http://www.canada.com/saskatoonstarphoenix...72-ad8e24a7fa37

 

[joeiannuzzi]

Sask. residents celebrate tax freedom day on June 20

REGINA (SNN) -- Saskatchewan residents will be working for themselves -- not the tax man -- as of next Friday, a six-day improvement from 2007 but still later than many Canadians, says a conservative think-tank.

The Fraser Institute calculates "tax freedom day" each year, describing it as the calendar date when a family would have earned enough to pay off various taxes levied by municipal, provincial and federal governments.

National tax freedom day falls today, but Saskatchewan residents won`t be celebrating until June 20, the second latest date among provinces, said Niels Veldhuis, the institute`s director of fiscal studies.

http://www.canada.com/saskatoonstarphoenix...27-5587f9fb2d57