HomeDiagramsDatabaseMapsForum
     

Go Back   SkyscraperPage Forum > Regional Sections > Canada


Reply

 
Thread Tools Display Modes
     
     
  #16061  
Old Posted Nov 8, 2019, 8:15 PM
zahav zahav is offline
Registered User
 
Join Date: Apr 2009
Location: Vancouver
Posts: 758
The labour report was pretty average, with nothing too earth shattering. The people (ssiguy...) who thought BC was totally down because of some small declines the previous few months are obviously going to make excuses downplaying for the gain as well. Month to month variations, even 3 in a row, are very normal due to the nature of the cycle and survey. Ontario and Quebec lost employment last month but does that mean they are in bad times? Not at all, employment flows up and down, so these changes are nothing to blink at. It is good to see the unemployment rate drop here wasn't caused by a labour force shrinkage (sometimes low unemployment rates can get there because the labour force shrinks, rather than actual employment growth)
Reply With Quote
     
     
  #16062  
Old Posted Nov 8, 2019, 8:23 PM
ssiguy ssiguy is offline
Registered User
 
Join Date: Mar 2006
Location: White Rock BC
Posts: 7,025
The s__t is REALLY going to hit the fan in about 20 years. In 10 year oil needs will begin a very precipitous decline and by 2040 start falling off the cliff. This will not only make Alberta far less affluent than it is today but more importantly will greatly change the calculation of "revenue potential". How can oil be considered a revenue potential when it is a commodity the world no longer wants? This will be akin to calling asbestos a potential revenue because you have a huge supply but nobody wants it {thank God} anymore.

Due to what defines a revenue potential is a political decision, the political consequences will be profound and it will lay bare just how warped the system is and could have real national implications stroking the flames of independence from different regions depending on how Ottawa reacts.
Reply With Quote
     
     
  #16063  
Old Posted Nov 8, 2019, 9:48 PM
Airboy Airboy is offline
Registered User
 
Join Date: Sep 2008
Location: Edmonton/St Albert
Posts: 6,461
Quote:
Originally Posted by whatnext View Post
BC takes back the crown for Canada's lowest unemployment rate. Way to go BC NDP!

https://biv.com/article/2019/11/bc-a...-months-losses
Good to see, as I head out for a direct flight to Kitamat. Like McMurray. How many are going to be fly in fly out from other provinces.
__________________
Why complain about the weather? Its always going to be here. You on the other hand will not.
Reply With Quote
     
     
  #16064  
Old Posted Nov 8, 2019, 9:52 PM
ssiguy ssiguy is offline
Registered User
 
Join Date: Mar 2006
Location: White Rock BC
Posts: 7,025
It is indeed good news for BC and helps reverse the declines of the last 4 months. Hopefully the trend will continue. overall, it was a fairly uneventful report which was kind of expected after the last couple months of huge employment gains.
Reply With Quote
     
     
  #16065  
Old Posted Nov 8, 2019, 10:36 PM
Pinus Pinus is offline
Registered User
 
Join Date: Jul 2015
Posts: 1,346
Looks like downtown Edmonton is also feeling the economic pinch with the failure of their premier luxury condo tower in the ICE District.

Stantec Tower condos to be turned into hotel instead


EDMONTON -- Floors of luxury homes in Edmonton's ICE District will instead become a hotel after the condominiums sold poorly, officials say.

SKY Residences was supposed to occupy floors 30 through 66 in Stantec Tower.

Officials confirmed to CTV News Edmonton on Thursday the bottom 12 floors will be converted into a new hotel.

"You have to be flexible to market demands. You have to be flexible to what your customers and your market is saying," said Tim Shipton of ICE District Joint Venture.

Shipton said the group would be looking for a premium hotel brand, but that there was no deal in place yet.


https://edmonton.ctvnews.ca/mobile/s...ource=facebook
__________________
Canada's biggest downfall: our proximity and physical attachment to 'Murca.
Reply With Quote
     
     
  #16066  
Old Posted Nov 8, 2019, 10:44 PM
LeftCoaster's Avatar
LeftCoaster LeftCoaster is offline
Moderator
 
Join Date: Nov 2005
Location: Toroncouver
Posts: 11,617
Not surprising at all, I'm interested to see what happens to the high end rentals at Telus Sky... talk about giving the market something it does not need.
Reply With Quote
     
     
  #16067  
Old Posted Nov 9, 2019, 2:04 AM
misher's Avatar
misher misher is offline
Registered User
 
Join Date: Jul 2018
Posts: 2,311
Quote:
Originally Posted by ssiguy View Post
The s__t is REALLY going to hit the fan in about 20 years. In 10 year oil needs will begin a very precipitous decline and by 2040 start falling off the cliff. This will not only make Alberta far less affluent than it is today but more importantly will greatly change the calculation of "revenue potential". How can oil be considered a revenue potential when it is a commodity the world no longer wants? This will be akin to calling asbestos a potential revenue because you have a huge supply but nobody wants it {thank God} anymore.

Due to what defines a revenue potential is a political decision, the political consequences will be profound and it will lay bare just how warped the system is and could have real national implications stroking the flames of independence from different regions depending on how Ottawa reacts.
It is funny to think back to Quebec asbestos. We really went all the way with letting them do what they wanted, even while Canada banned it we still shipped it to third world nations for their use. The below article from 2010 helps to describe it. Oil is not getting the special "Quebec" treatment with many calling for export to stop even as we still use it locally.

https://www.newswire.ca/news-release...544332632.html

Quote:
Canada continues to provide financial support for the asbestos industry and actively promotes Canadian exports to the remaining markets for asbestos - developing countries that lack regulations, occupational health and safety resources, and public awareness to protect asbestos workers and their families.

"More than 40 countries, including all member states of the European Union, have banned the use of all forms of asbestos, including Chrysotile," said Dr. Cordell Neudorf, Chair of the CPHA Board of Directors. "There is clear scientific evidence that exposure to asbestos through mining, processing and use is harmful to health," he added.

Although Canada has strict restrictions on the domestic use of asbestos under the Hazardous Products Act and the Canadian Environmental Protection Act, it is the world's fifth-largest exporter of Chrysotile asbestos to developing countries. Ninety six per cent of the output from the country's two remaining mines, both in Quebec, is for export, primarily to developing countries such as India and Indonesia.

Asbestos fibres remain in the body, therefore each exposure increases the likelihood of developing an asbestos-related disease such as lung cancer, scarring of the lungs and mesothelioma (cancer of the lining of the chest or abdominal cavity).

"It's inconceivable that we would restrict the use of asbestos in our own country but continue to export this hazardous product around the world," says Dr. Anne Doig, President of the Canadian Medical Association.

CPHA, CMA and the NSSCM noted that the Government of Quebec intends to guarantee a $58-million loan to Jeffrey Mine that will result in the export of large quantities of asbestos to developing countries for the next twenty-five years.

Rather than investing in asbestos extraction and export, all levels of government should direct new investments to support the transition of asbestos mining regions toward environmentally healthy and sustainable industries. "The decision is simple: Choose to invest tax payer's dollars to diversify the economy of the regions and to re-train those currently employed by the declining asbestos industry," said Dr. Matthew Hodge, President of NSSCM.
Reply With Quote
     
     
  #16068  
Old Posted Nov 9, 2019, 4:54 AM
SpongeG's Avatar
SpongeG SpongeG is offline
Registered User
 
Join Date: Jun 2006
Location: Coquitlam/Rainbow Lake
Posts: 34,573
Perpetual Energy cuts 25% of workforce to deal with lower commodity prices

Calgary-based company also cutting compensation for its remaining employees
The Canadian Press · Posted: Nov 08, 2019

Calgary-based oil and gas producer Perpetual Energy Inc. says it has cut 25 per cent of its workforce in an effort to rein in costs in response to lower commodity prices.

The gas-weighted Calgary company says it is also cutting compensation for its remaining employees and has lowered its 2019 cash flow expectations.

Perpetual Energy Inc. did not say how many jobs were lost.

The job cuts come three weeks after much larger Calgary rival Husky Energy Inc. announced it had laid off an undisclosed number of staff to align its workforce with its reduced capital spending and growth strategy.

...

https://www.cbc.ca/news/canada/calga...AFBvwyZnhd5Yug
__________________
belowitall
Reply With Quote
     
     
  #16069  
Old Posted Nov 9, 2019, 4:55 AM
Loco101's Avatar
Loco101 Loco101 is offline
Registered User
 
Join Date: May 2013
Location: Timmins, Northern Ontario
Posts: 3,676
The pressure caused the federal government to eventually ban asbestos exports. But as I've said before, provincial politicians in Quebec are usually much more effective than ones in Alberta.
Reply With Quote
     
     
  #16070  
Old Posted Nov 9, 2019, 5:02 AM
Corndogger Corndogger is offline
Registered User
 
Join Date: Sep 2007
Location: Calgary
Posts: 5,065
Quote:
Originally Posted by Loco101 View Post
The pressure caused the federal government to eventually ban asbestos exports. But as I've said before, provincial politicians in Quebec are usually much more effective than ones in Alberta.
They're only effective because the system is totally rigged in their favor. They're grossly over represented in parliament, in the senate, the judiciary, etc.
Reply With Quote
     
     
  #16071  
Old Posted Nov 9, 2019, 5:13 AM
SpongeG's Avatar
SpongeG SpongeG is offline
Registered User
 
Join Date: Jun 2006
Location: Coquitlam/Rainbow Lake
Posts: 34,573
Tolko Industries' mill in Kelowna, B.C., to close permanently Jan. 8

Company blames high log costs for failure of Okanagan operation
CBC News · Posted: Nov 08, 2019


Tolko Industries in Kelowna, B.C., put 127 people out of work when it announced an indefinite shutdown in September, made into a permanent closure on Friday. (Dominika Lirette/CBC)

After months of job cuts and bad news, employees at Tolko Industries' Kelowna mill learned on Friday the mill will close permanently Jan. 8.

A total of 174 employees including 156 hourly and 18 salaried workers received severance notice.

In a statement from the company, vice-president Troy Connolly blamed the closure on high log prices which make the mill's products uncompetitive.

"We know our people in Kelowna have done everything in their power to make the mill successful," Connolly said. "They have gone above and beyond.

"Sadly, this has nothing to do with them or their efforts. Unfortunately, with B.C. log costs, the mill is no longer cost-competitive," he said.

...

https://www.cbc.ca/news/canada/briti...sure-1.5353728
__________________
belowitall
Reply With Quote
     
     
  #16072  
Old Posted Nov 9, 2019, 9:43 AM
ToxiK ToxiK is offline
Registered User
 
Join Date: Oct 2006
Posts: 516
Quote:
Originally Posted by Corndogger View Post
They're only effective because the system is totally rigged in their favor. They're grossly over represented in parliament, in the senate, the judiciary, etc.
"Grossly over represented"??

Québec has approximately 23 % of the population of Canada and has 22.9 % of the senators and 23.1 % of MPs. As for the Supreme Court, Québec has 33.3 % of the judges for historic and civil laws reasons (Québec uses the civil code and the ROC uses the common law). And it might be easier to find bilingual judges in Québec for the Supreme Court but that is another topic...

You can complain that some region are under represented but don't blame Québec for having a proportional representation.


https://en.wikipedia.org/wiki/Senate...Representation
__________________
"Monster," I shrieked, "be thou juggler, enchanter, dream, or devil, no more will I endure thy mockeries. Either thou or I must perish." And saying these words I precipitated myself upon him.
A. Square
Reply With Quote
     
     
  #16073  
Old Posted Nov 9, 2019, 3:20 PM
jawagord's Avatar
jawagord jawagord is offline
Registered User
 
Join Date: Jun 2006
Location: Calgary
Posts: 1,210
Quote:
Originally Posted by misher View Post
It is funny to think back to Quebec asbestos. We really went all the way with letting them do what they wanted, even while Canada banned it we still shipped it to third world nations for their use. The below article from 2010 helps to describe it. Oil is not getting the special "Quebec" treatment with many calling for export to stop even as we still use it locally.

https://www.newswire.ca/news-release...544332632.html
Or the “phase out” of Ontario grown tobacco.

By signing control of his farm to relatives or acquaintances, a farmer could resume growing tobacco. You don’t have to look long to figure out why.

“It’s still the most lucrative cash crop you can grow per acre,” says Dennis Travale, the mayor of Norfolk County, in the heart of the Ontario tobacco belt. Travale knows the industry well. He worked in the tobacco fields at age 11 and still knows which leaves to pick and how to cure them.

With new high-tech equipment and larger fields, and without the worry of splitting quotas, farmers are now availed of economies of scale. “Instead of having 1,000 families living off a 22-million-pound crop, we have 200 families living off a crop that is 54 million pounds,” says Fred Neukamm, chair of Ontario Flue-Cured Tobacco Growers’ Marketing Board.

Companies like Grand River Enterprises, a cigarette manufacturer and tobacco processor based in Six Nations, Ont., would like to change that. “China wants everything we can grow,” says company president Steve Williams. Currently, Grand River has a contract to ship about 12 million pounds of tobacco to China, but Williams says customers there could take 20 times that amount..


https://www.canadianbusiness.com/com...quiet-revival/

Many in the realm of public health are troubled by the industry’s resilience. “I don’t want to disparage the farmers,” says David Hammond, the applied public health chair at the University of Waterloo’s School of Public Health & Health Systems. “But it is our federal and provincial governments' stated goal to reduce tobacco consumption in this country. It remains the leading cause of preventable death. So it begs the question, why would we actively support the manufacture of this product?

https://www.tvo.org/article/why-toba...-ontario-farms
__________________
The human ability to innovate out of a jam is profound. That's why Darwin will always be right and Malthus will always be wrong - K.R.Sridhar

Everybody has a plan until they get punched in the mouth. - M.Tyson
Reply With Quote
     
     
  #16074  
Old Posted Nov 9, 2019, 4:26 PM
Denscity Denscity is offline
Suburbs Suck
 
Join Date: Jun 2008
Location: Castlegar BC
Posts: 7,118
Quote:
Originally Posted by SpongeG View Post
Tolko Industries' mill in Kelowna, B.C., to close permanently Jan. 8

Company blames high log costs for failure of Okanagan operation
CBC News · Posted: Nov 08, 2019


Tolko Industries in Kelowna, B.C., put 127 people out of work when it announced an indefinite shutdown in September, made into a permanent closure on Friday. (Dominika Lirette/CBC)

After months of job cuts and bad news, employees at Tolko Industries' Kelowna mill learned on Friday the mill will close permanently Jan. 8.

A total of 174 employees including 156 hourly and 18 salaried workers received severance notice.

In a statement from the company, vice-president Troy Connolly blamed the closure on high log prices which make the mill's products uncompetitive.

"We know our people in Kelowna have done everything in their power to make the mill successful," Connolly said. "They have gone above and beyond.

"Sadly, this has nothing to do with them or their efforts. Unfortunately, with B.C. log costs, the mill is no longer cost-competitive," he said.

...

https://www.cbc.ca/news/canada/briti...sure-1.5353728
I feel bad for all those who lost their jobs.
And the real estate guy in me is very excited about that piece of land.
__________________
Daily 1 hour flights from YCG to YVR & YYC on ACX
British Columbia is named after the Columbia River, a 4 minute walk from my house
Exactly halfway between Vancouver and Calgary
castlegar.ca
Reply With Quote
     
     
  #16075  
Old Posted Nov 9, 2019, 7:18 PM
ssiguy ssiguy is offline
Registered User
 
Join Date: Mar 2006
Location: White Rock BC
Posts: 7,025
Obviously real estate agents and developers are salivating over the demise of the mill in Kelowna due to it's outrageous real estate prices. The problem is that the mill was productive while building houses adds nothing to the economy over the long term. A healthy economy is one where the production supports a strong real estate sector and not the other way around.

As far as Alberta, again how in 20 years will oil any longer be considered a "revenue source" for equalization calculations when it's a dying commodity? This is when the political influences in the equalization formula become very apparent. If the calculation doesn't change then it will lead to even more Western alienation while if the calculation is changed it will result in much lower contributions from Alberta and hence much lower equalization payments to the "have-not" provinces or even turning some of them into net contributors which will embolden the Quebec separatist movement.............for Ottawa, it's a no-win scenario.
Reply With Quote
     
     
  #16076  
Old Posted Nov 9, 2019, 9:23 PM
misher's Avatar
misher misher is offline
Registered User
 
Join Date: Jul 2018
Posts: 2,311
Quote:
Originally Posted by ssiguy View Post
Obviously real estate agents and developers are salivating over the demise of the mill in Kelowna due to it's outrageous real estate prices. The problem is that the mill was productive while building houses adds nothing to the economy over the long term. A healthy economy is one where the production supports a strong real estate sector and not the other way around.

As far as Alberta, again how in 20 years will oil any longer be considered a "revenue source" for equalization calculations when it's a dying commodity? This is when the political influences in the equalization formula become very apparent. If the calculation doesn't change then it will lead to even more Western alienation while if the calculation is changed it will result in much lower contributions from Alberta and hence much lower equalization payments to the "have-not" provinces or even turning some of them into net contributors which will embolden the Quebec separatist movement.............for Ottawa, it's a no-win scenario.
Canada is extremely uncompetitive when it comes to business. Brining in people who make money elsewhere to live here and spend it is our economy. Until we fix our competitiveness don’t you dare try to go after the only thing making a profit.
Reply With Quote
     
     
  #16077  
Old Posted Nov 9, 2019, 10:37 PM
zahav zahav is offline
Registered User
 
Join Date: Apr 2009
Location: Vancouver
Posts: 758
I know some people who worked at Tolko, and this was absolutely not a shock to them, there have been so many layoffs before, and recently of course the shift cut. It is bad for these employees no doubt, but apparently Tolko has been looking to offload this property for a long long time, to consolodate operations in areas that aren't in the heart of Kelowna on the waterfront. So many forestry companies did this before, same reason all of the Vancouver ones left in the 90s, it made no sense having them there. People are resilient and will make due. When things stabilize, it will be the mills in smaller towns that will be back up and running because they can expand and modernize better and don't have a massive property worth a fortune to developers that sweetens the deal to close permanently.

I'd be interested to know how many of these laid off workers find something else soon. The closures have been going all year and have yet to make any difference in the employment numbers overall (the rate is still very low), but obviously that's a lot due to the number of employees in the forestry sector being small compared to the overall provincial employment numbers
Reply With Quote
     
     
  #16078  
Old Posted Nov 9, 2019, 11:25 PM
Chadillaccc's Avatar
Chadillaccc Chadillaccc is offline
ARTchitecture
 
Join Date: Feb 2011
Location: Cold Garden
Posts: 20,423
Quote:
Originally Posted by Pinus View Post
Looks like downtown Edmonton is also feeling the economic pinch with the failure of their premier luxury condo tower in the ICE District.

Stantec Tower condos to be turned into hotel instead


EDMONTON -- Floors of luxury homes in Edmonton's ICE District will instead become a hotel after the condominiums sold poorly, officials say.

SKY Residences was supposed to occupy floors 30 through 66 in Stantec Tower.

Officials confirmed to CTV News Edmonton on Thursday the bottom 12 floors will be converted into a new hotel.

"You have to be flexible to market demands. You have to be flexible to what your customers and your market is saying," said Tim Shipton of ICE District Joint Venture.

Shipton said the group would be looking for a premium hotel brand, but that there was no deal in place yet.


https://edmonton.ctvnews.ca/mobile/s...ource=facebook

That's about as great of an outcome as could be hoped for.

I remember Fairmont was looking to build another hotel in Calgary, they had expressed interest in the top half City Centre 2 in Eau Claire, but that tower isv shelved pending an economic miracle. Perhaps they could just end up taking a significant portion of Telus Sky though? That would be an amazing use for an amazing space.

In other news, Westbank released a statement the other day saying over 2/3 of the office space in Telus Sky is now leased, all of it to tech companies. A promising step forward.
__________________
Strong & free

'My friends, love is better than anger. Hope is better than fear. Optimism is better than despair. So let us be loving, hopeful and optimistic. And we’ll change the world.' — Jack Layton
Reply With Quote
     
     
  #16079  
Old Posted Nov 10, 2019, 12:26 AM
Black Star's Avatar
Black Star Black Star is online now
Made in Edmonton
 
Join Date: Jun 2010
Location: Edmonton
Posts: 5,979
Canada is doomed under Trudeau and headed for a recession says Kevin O’Leary.



The economic backdrop for Canada, already grim, is now looking even poorer under the new minority Liberal government, led by a re-elected Justin Trudeau, says Kevin O’Leary, chairman of O’Shares ETFs and star of the hit show Shark Tank.

“What is the definition of leadership if it isn’t to unite a country? Here’s a guy that’s so poor in executional skills, in strategic skills, in any kind of vision and leadership, and if I may be critical, he has destroyed unity in Canada because he doesn’t know what it means,” O’Leary told Kitco News.


https://youtu.be/DmSGQAgLGF4
__________________
Beverly to 96 st then all the way down to Riverdale.
Reply With Quote
     
     
  #16080  
Old Posted Nov 10, 2019, 12:55 AM
theman23's Avatar
theman23 theman23 is offline
Registered User
 
Join Date: Apr 2007
Location: Ville de Québec
Posts: 2,354
Kevin O’Leary is not a serious person.
__________________
Please note that, unless explicitly stated, the above post is not meant to be a slight against your favourite city. If you are about to quote my post and respond with indignation, please take a moment to consider what my post literally says rather than any subliminal meaning you may have attached to it.
Reply With Quote
     
     
This discussion thread continues

Use the page links to the lower-right to go to the next page for additional posts
 
 
Reply

Go Back   SkyscraperPage Forum > Regional Sections > Canada
Forum Jump


Thread Tools
Display Modes

Forum Jump


All times are GMT. The time now is 11:27 PM.

     

Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2019, vBulletin Solutions, Inc.