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  #1941  
Old Posted Nov 21, 2016, 7:07 PM
ssiguy ssiguy is offline
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That's great news for BC and with the impending housing collapse, over the long-term the prospects look even better. I think many BC tech companies are greatly inhibited by the city's real estate prices as it makes the fundamental issue of actually finding qualified employees very difficult. All the capitol in the world is useless if you can't find the workers. The housing collapse will have a devastating effect on the local economy but it's these kinds of jobs that BC needs that will benefit. These kind of jobs are the ones that will make for a bright and substainable future for the province.
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  #1942  
Old Posted Nov 22, 2016, 11:07 PM
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That's great news for BC and with the impending housing collapse, over the long-term the prospects look even better. I think many BC tech companies are greatly inhibited by the city's real estate prices as it makes the fundamental issue of actually finding qualified employees very difficult. All the capitol in the world is useless if you can't find the workers. The housing collapse will have a devastating effect on the local economy but it's these kinds of jobs that BC needs that will benefit. These kind of jobs are the ones that will make for a bright and substainable future for the province.
In Alberta we are starting to see economic diversification due to the drop in Oil prices. Its due to companies in other sectors now having wages that are competitive which allow them to grow. You could afford to pay that engineer 75K a year but the patch was paying 150K so you could not get them. Now they are taking that 75K a year job. The drop in prices will help diversification of Alberta's economy significantly more than any government program to do so.
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  #1943  
Old Posted Nov 23, 2016, 5:16 AM
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Basing an economy on a commodity {whether real estate or oil} is, over the long-term, a losing proposition. It's like building your economy on the stock market. The loses for the people effected are devastating but often a crash in a sector that was dictating the entire coarse of a provincial economy is the thing that's needed to bring about a more prosperous and sustainable future.
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  #1944  
Old Posted Nov 23, 2016, 8:06 AM
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Basing an economy on a commodity {whether real estate or oil} is, over the long-term, a losing proposition. It's like building your economy on the stock market. The loses for the people effected are devastating but often a crash in a sector that was dictating the entire coarse of a provincial economy is the thing that's needed to bring about a more prosperous and sustainable future.
Volatility only requires different behaviour, such as savings buffers and flexible wages. The AB government could, for example, mandate a percentage of royalties be saved off the top ever year and if that savings target could not be met, it would trigger service cuts to get there.
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  #1945  
Old Posted Nov 23, 2016, 12:29 PM
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Volatility only requires different behaviour, such as savings buffers and flexible wages. The AB government could, for example, mandate a percentage of royalties be saved off the top ever year and if that savings target could not be met, it would trigger service cuts to get there.
Wouldn't you rather have a well diversified economy with natural resources just acting as extra layer of wealth? Use oil wealth to build your economy. Don't let it become the economy.
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  #1946  
Old Posted Nov 27, 2016, 12:23 PM
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The economic downturn is starting to claim some high-profile victims.

Skate shop Ballistic on Water Street, which has been open for more than 20 years and has some internationally high-profile fans in that community, is closing.

STJs Summer 2014 by R C, on Flickr

Also going is Templeton's on Water Street, a home supply store, which opened in 1863.

And Healy's Deli on Water Street West is closing.
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  #1947  
Old Posted Nov 27, 2016, 3:25 PM
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Healy's was in trouble years ago when they shut down their pharmacy. I remember thinking at the time that their plan to just run a deli was doomed to fail. It's not a great location to rely on lunch time traffic.

Ballistic is a little more surprising, though I really am surprised they lasted this long after West 49 opened (close to 10 years). If I were still in my skate phase, their liquidation sale would be my mega-Christmas. How many decks could I get for under 200?
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  #1948  
Old Posted Nov 29, 2016, 8:23 PM
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Two federal pipeline decisions coming down today. My bet is No to Northern Gateway, Yes to Transmountain. Get ready for the fireworks!
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  #1949  
Old Posted Nov 29, 2016, 8:56 PM
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Two federal pipeline decisions coming down today. My bet is No to Northern Gateway, Yes to Transmountain. Get ready for the fireworks!
Also, yes to Line 3 replacement.
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  #1950  
Old Posted Nov 30, 2016, 12:43 AM
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Yup confirmed yes to TransMountain and line 3, and no to Northern Gateway. Im ok to all of this as Trans is already there and has been for decades, and so has 3?? And no to Northern is also awesome.
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  #1951  
Old Posted Nov 30, 2016, 12:51 AM
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Next up Energy East. It would be a boon for New Brunswick.
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  #1952  
Old Posted Nov 30, 2016, 2:24 AM
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Next up Energy East. It would be a boon for New Brunswick.
The boon will have to wait a while. NEB hearings/recommendation will not be completed until mid 2018, so likely no government approval on EE until 2019. And if Trump approves Keystone XL, TCPL will be in no rush to start building Energy East.
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  #1953  
Old Posted Nov 30, 2016, 4:07 AM
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The boon will have to wait a while. NEB hearings/recommendation will not be completed until mid 2018, so likely no government approval on EE until 2019. And if Trump approves Keystone XL, TCPL will be in no rush to start building Energy East.
Indeed. If Keystone goes ahead there may not be enough oil supply to warrant construction/completion of EE.

I'm not entirely sure EE would be the boon for NB that people are predicting. Loads of construction jobs but beyond that there would be a modest increase in long-term employment at the existing refinery (Canada's largest). Irving would make out very well if completed but i'm not sold on the overall provincial economic benefit as a whole. Don't get me wrong, a pipeline would be great for the refinery and Saint John, but some people are making it out to be a silver bullet that will save the province from imminent bankruptcy. It certainly isn't that.
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  #1954  
Old Posted Nov 30, 2016, 11:35 AM
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Our Resettlement regulations are being updated, which is a touchy issue here. When Little Bay Islands held its vote a couple of years ago, 89.4% voted to resettle with some voters allegedly not year-round residents so the rules are being clarified:

90% of permanent, year-round residents must vote to resettle and only these qualified residents are allowed to vote.
$270,000 per household will be provided by the Province following a successful vote IF that cost is less than providing services. (For example, a town of a couple dozen on a secondary highway to a larger town where the only services are electricity and a highway that must still be maintained regardless to reach the larger town would not be eligible for resettlement. But an end of the road town, or a small island town, likely would).
No one will be forced to leave following a resettlement vote, but all government services (including electricity and ferries) will be stopped.
The Province will no longer take the titles of all properties in resettled communities.

Seems to be a good balance.

I expect we'll see Little Bay Islands vote again in the near future, and possibly a few others.

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  #1955  
Old Posted Nov 30, 2016, 2:33 PM
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Residential rental vacancy rate in St. John's has jumped from 4.7% last year, which was already a significant increase, to 8% currently.
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  #1956  
Old Posted Nov 30, 2016, 3:32 PM
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Originally Posted by big W View Post
In Alberta we are starting to see economic diversification due to the drop in Oil prices. Its due to companies in other sectors now having wages that are competitive which allow them to grow. You could afford to pay that engineer 75K a year but the patch was paying 150K so you could not get them. Now they are taking that 75K a year job. The drop in prices will help diversification of Alberta's economy significantly more than any government program to do so.
Currently involved in hiring staff in our Edmonton and Calgary offices. That price drop is happening in Calgary but not Edmonton...at least in my industry.
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  #1957  
Old Posted Nov 30, 2016, 4:51 PM
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Currently involved in hiring staff in our Edmonton and Calgary offices. That price drop is happening in Calgary but not Edmonton...at least in my industry.
What kind of business or industry, if it's OK to ask?
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  #1958  
Old Posted Nov 30, 2016, 5:03 PM
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Originally Posted by SignalHillHiker View Post
Our Resettlement regulations are being updated, which is a touchy issue here. When Little Bay Islands held its vote a couple of years ago, 89.4% voted to resettle with some voters allegedly not year-round residents so the rules are being clarified:

90% of permanent, year-round residents must vote to resettle and only these qualified residents are allowed to vote.
$270,000 per household will be provided by the Province following a successful vote IF that cost is less than providing services. (For example, a town of a couple dozen on a secondary highway to a larger town where the only services are electricity and a highway that must still be maintained regardless to reach the larger town would not be eligible for resettlement. But an end of the road town, or a small island town, likely would).
No one will be forced to leave following a resettlement vote, but all government services (including electricity and ferries) will be stopped.
The Province will no longer take the titles of all properties in resettled communities.

Seems to be a good balance.

I expect we'll see Little Bay Islands vote again in the near future, and possibly a few others.

This all sounds really exotic.

It's also... sad, but necessary, I believe. I'm sure you guys gave it lots of thoughts, so I don't doubt you're doing what's best.
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  #1959  
Old Posted Nov 30, 2016, 7:08 PM
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This all sounds really exotic.

It's also... sad, but necessary, I believe. I'm sure you guys gave it lots of thoughts, so I don't doubt you're doing what's best.
It's a tough threshold to reach and even with the 90% vote the Provincial Government maintains the final say on whether to relocate or not. The decision comes down to whether it's more cost-effective to pay the people $270,000 per household to leave or maintain services to the community for 5, 10, or 20 years. In a lot of these communities that means asking whether it's cheaper to maintain the diesel generator station, ferry service, and employ a teacher, or pay out $5 million to residents to leave. If the ferry is serving 4-5 communities, and many of them do, it's hard to make that case because the service still has to be provided anyway and just have fewer people using it.

When government upped the resettlement payouts to $270,000 about 3 years ago, what they did was make resettlement a much more unattainable option and commit themselves to maintaining these places.
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  #1960  
Old Posted Nov 30, 2016, 8:44 PM
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In other... ugh... news, FISH-NL and the FFAW (and UNIFOR) are now in open warfare over representation of fish harvesters in NL. Battle of the Unions, in what I believe is still the most heavily unionized province in Canada. Atlantic head of UNIFOR even called the head of FISH-NL a narcissistic liar. On Twitter, no less, the Trump effect is spreading.

And the new Nalcor (crown corp that owns NL Hydro, Muskrat Falls, etc.) board has been appointed. There's no one from Labrador (that's always an uproar here, let alone on a board with so much work in Labrador), and the chair lives in Bahamas (and has for the past 16 years).



2017 is going to be a great year.

EDIT: Wanted to check that union thing. We're still on top, yeah.

2012 Unionization by Province

NL: 37.7
QC: 37.4
MB: 34.6
SK: 34
PEI: 32.4
BC: 30.2
NS: 29.4
NB: 28.7
ON: 26.8
AB: 22.2

But wow, it's dropping:

1981 Unionization by Province

NL: 45.2
QC: 44.2
BC: 43.4
NB: 39.8
PEI: 38
MB: 37.9
SK: 37.9
NS: 33.8
ON: 33.7
AB: 28.4

http://www.statcan.gc.ca/pub/75-006-...desc02-eng.htm
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