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  #441  
Old Posted May 30, 2012, 12:13 AM
Snark Snark is offline
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Originally Posted by MolsonExport View Post
I heard that Timkin (ball bearings) is closing in...yup you guessed it, St. Thomas. when will the job hemorrhage ever end?
It already is. The media just don't want to talk about it, and others aren't paying attention. Many are still mesmerized by the slow painful death of the old economy - much like watching a car accident.

As an example, it's unlikely that anyone will remember, but Forest City Castings purchased the 100,000 sq.ft former Lear factory in St.Thomas last year. They are relocating right now. I have a friend who is a hiring manager there, and he is hiring up to 6 people a week - and finds it a challenge to find enough skilled labour with sufficient experience levels.

This sort of thing will never replace an auto assembly plant in terms of numbers employed at an individual facility, but this is the only future of manufacturing in this part of the world: smaller more adaptable high tech firms that are a non-automotive supplier and are instead into medical, scientific, telecom, etc. Companies such as Trudel are similar.
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  #442  
Old Posted May 30, 2012, 2:49 PM
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Originally Posted by Snark View Post
It already is. The media just don't want to talk about it, and others aren't paying attention. Many are still mesmerized by the slow painful death of the old economy - much like watching a car accident.

As an example, it's unlikely that anyone will remember, but Forest City Castings purchased the 100,000 sq.ft former Lear factory in St.Thomas last year. They are relocating right now. I have a friend who is a hiring manager there, and he is hiring up to 6 people a week - and finds it a challenge to find enough skilled labour with sufficient experience levels.

This sort of thing will never replace an auto assembly plant in terms of numbers employed at an individual facility, but this is the only future of manufacturing in this part of the world: smaller more adaptable high tech firms that are a non-automotive supplier and are instead into medical, scientific, telecom, etc. Companies such as Trudel are similar.
Well put.

Question: Would experience in labour at EMD be sufficient experience to work for Forest City Castings?
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  #443  
Old Posted Jun 10, 2012, 3:06 PM
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Finally some good news on the economy front, although how long it will last is anyone's guess.

http://www.lfpress.com/news/london/2.../19857121.html

Even though the unemployment rate barely dropped (down to 8.3% from 8.4% in April), about 8,300 people joined the workforce between January and May. The reduction is occurring because people are actually starting to find jobs, not because they're becoming despondent and quitting the job market. Fontana's 10,000 job pledge suddenly doesn't look so hopelessly unrealistic.
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  #444  
Old Posted Jun 10, 2012, 5:55 PM
cbyrne2014 cbyrne2014 is offline
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Originally Posted by Wharn View Post
Finally some good news on the economy front, although how long it will last is anyone's guess.

http://www.lfpress.com/news/london/2.../19857121.html

Even though the unemployment rate barely dropped (down to 8.3% from 8.4% in April), about 8,300 people joined the workforce between January and May. The reduction is occurring because people are actually starting to find jobs, not because they're becoming despondent and quitting the job market. Fontana's 10,000 job pledge suddenly doesn't look so hopelessly unrealistic.
Good news indeed.

AM980 reporting (https://twitter.com/AM980News/status/211864445339705345) that an 'extremely rare' Sunday afternoon news conference called today for 4:30 pm at city hall. One would think that if the news had to be delivered on a Sunday afternoon that it must be some big news. Hopefully it is positive and on the jobs front!
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  #445  
Old Posted Jun 10, 2012, 8:23 PM
GreatTallNorth2 GreatTallNorth2 is offline
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Originally Posted by cbyrne2014 View Post
Good news indeed.

AM980 reporting (https://twitter.com/AM980News/status/211864445339705345) that an 'extremely rare' Sunday afternoon news conference called today for 4:30 pm at city hall. One would think that if the news had to be delivered on a Sunday afternoon that it must be some big news. Hopefully it is positive and on the jobs front!
Yes, huge news I suspect! Could it be a major company moving to London? The building of a new office tower complex? Or is it....wait, it's that 2 seals have died? Will there be a day of mourning?
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  #446  
Old Posted Jun 10, 2012, 9:20 PM
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Nope. Seals died from Storybook Gardens to St. Louis...

Nothing economic...

http://www.am980.ca/channels/news/lo...spx?ID=1718423
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  #447  
Old Posted Jun 11, 2012, 1:59 AM
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lol crazy overhyped press conference for this?

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  #448  
Old Posted Jun 11, 2012, 2:58 AM
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Haha - I had a similar reaction to all of you. I mean it's a sad story, but perhaps did not necessitate an emergency presser on a Sunday afternoon.

I did just read a positive story in the London Free Press on the SoHo development: http://www.lfpress.com/news/london/2.../19861021.html

Quote:
Towering proposal fast-laned
$300M CORE PROJECT
By CHIP MARTIN, THE LONDON FREE PRESS

Plans for a massive $300-million, residential-medical complex downtown so captivated a city hall committee on the weekend, it directed city staff to process the paperwork for it as quickly as possible.

SoHo Wellington Centre, with its two 26-storey residential towers soon to rank among the city's tallest buildings, would create nearly 1,000 permanent jobs and $9 million in annual property taxes, its promoters say.

And the city wouldn't have to put up a nickel.

Fincore Canada, which is proposing the project, has filed applications for a zoning change and official plan amendment, city council's investment and economic prosperity committee was told. The committee, reviewing proposals to transform the core, considered requests for more than $80 million in funding from other groups but jumped when it learned Fincore needs no money to proceed.

"No doubt this is going to be a signature project for the city," Mayor Joe Fontana said as the committee directed staff to "process (the application) as expeditiously as possible."

The committee intended to hear 12 submissions and refer them to city staff to identify the most worthwhile projects and consider financing for them in next year's budget.

But the Fincore plan proved so irresistible, city hall agreed to move things along.

The project would be located on 0.8 hectares of land on the north side of the Thames River between Wellington and Waterloo streets.

The towers would join the 24-storey One London Place (107 metres tall) and the two 28-storey Renaissance apartment towers (95 metres) as among the tallest in the city.

When asked what Fincore was seeking from the city, Fincore vice-president Ron Robinson said, "In terms of cash, none."

But, he added, discussions are underway about a city-owned property to complete Fincore's ownership of the entire parcel. which he expects will be resolved satisfactorily.

Given concerns expressed about burdening taxpayers with the cost of underwriting a transformation of the core, the no-cash notion struck a receptive chord with the committee.

"This is a shining light of what can happen in London in terms of rejuvenating the local economy," said Coun. Paul Van Meerbergen. "This is what happens when you unleash the private sector."

Van Meerbergen and other members of council have opposed any tax increase or a levy proposed by Fontana to finance capital projects in the core.

Van Meerbergen suggested city hall must ensure the SoHo project is "fast-tracked."

Coun. Bud Polhill said it's important the project is helped along and allowed "to proceed as quickly as possible."

Coun. Joe Swan, committee chairperson, said, "We are excited to see such investment in our community."

Fontana said he was pleased the private sector feels so confident it's willing to invest in London this way.

"I think this will leverage additional investments on the Victoria hospital lands (immediately to the east)," he predicted.

Fincore president Loredana Onesan Bowler said afterward that barring any unforeseen problems, she expects shovels could go into the ground before year's end. Construction, which would provide about 1,000 jobs, is expected to take 30 months.

Bowler said the cost of the venture will far exceed $300 million once medical equipment and devices are installed.

The venture is expected to be one of the largest anti-aging and rejuvenation facilities in North America once completed.

--- --- ---

SoHo Wellington Centre

A $300-million residential-medical complex downtown on the north side of the Thames River between Wellington and Waterloo streets.
Two 26-storey residential towers would rank among city’s tallest buildings.
Its wellness and anti-aging centre would incorporate 35 townhouses, a 12-storey wellness centre, a retail component, cafes, parking for 1,005 cars, and a church — in addition to the high-rise condominiums and apartments.
The project would include medical facilities and parkland to which the public would have access.
Really incredible that this project requires no public funds.
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  #449  
Old Posted Jun 12, 2012, 11:26 PM
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Apartment vacancies down

A new report confirms apartment vacancies in the London area have dropped in the last year.

A semi-annual survey by the Canada Mortgage and Housing Corporation (CMHC) shows vacancies in the London-St. Thomas area fell to 3.7% in April, down from 4.7% in April 2011.

Average rents went up 1.4% in the same period.

CMHC analyst Margot Stevenson said the decline in vacancies is partially due to growing demand with larger enrollments at Western University and Fanshawe College .

But she said the supply of apartments may also be tightening because of the uncertain economy.

“Potential first-time home buyers are choosing to stay in their apartments a bit longer,” said Stevenson.

The CMHC spring survey follows up on another taken last fall, showing the London area vacancy rates down to 3.8% in October, down 5% from the 2011 fall survey. The vacancy rate had been stuck at 5% for two years, near the historic high of 6%.

London saw a boom in apartment construction about five years ago that drove up overall housing starts.

But last year the market slowed dramatically with starts on only 400 apartment units.

The CMHC had predicted apartment construction would rebound this year to satisfy demand from baby boomers and professionals moving to the redeveloping downtown core.

But the latest CMHC monthly survey showed starts on only four apartment unit so far this year compared to 193 units in the first five months of 2011.

Stevenson said several large apartment projects should get underway later this year, starting with a 287-unit building in Old East London. Medallion Developments is now completing a 324 unit tower on the same site.

Stevenson said other future apartment projects include a student-focused building at 1235 Richmond Street and a Tricar Developments apartment tower on Sunningdale Road.

Stevenson said the lower vacancy rates will eventually spur the apartment market.

“Things should start improving this year but it will not be near the peak of over 1,000 units that we saw a few year ago,” said Stevenson.

Across Ontario, vacancy rates declined to 2.3 per cent in April, down from 2.5 per cent in the spring of 2011.

London has the third highest vacancy rate in major Ontario cities, behind Windsor and St. Catharines. Toronto had the lowest rate of 1.5%%
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  #450  
Old Posted Jun 14, 2012, 12:23 PM
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welcome back after a long absence, ldoto
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  #451  
Old Posted Jul 12, 2012, 10:35 PM
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In the latest chapter on the economy's war on London, Air Canada Jazz is cutting 200 jobs in London and moving some of the jobs to Halifax.
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  #452  
Old Posted Jul 13, 2012, 1:23 PM
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In the latest news, passengers will have to load their own bags and fly their own booked flights, as Air Canada has laid off all employees, "to serve you better". Also, to raise a much needed $3600/year, Air Canada will be rebranded Budweiser Birds. "It is a great thing for London, and for Canada" said Mayor Joe Camel. "Budweiser is the most popular beer in the world and this will help to put Fahriburg on the map"
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  #453  
Old Posted Jul 14, 2012, 2:31 AM
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Originally Posted by MolsonExport View Post
In the latest news, passengers will have to load their own bags and fly their own booked flights, as Air Canada has laid off all employees, "to serve you better". Also, to raise a much needed $3600/year, Air Canada will be rebranded Budweiser Birds. "It is a great thing for London, and for Canada" said Mayor Joe Camel. "Budweiser is the most popular beer in the world and this will help to put Fahriburg on the map"
That's bad for me, I'm flying on Air Canada next weekend.
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  #454  
Old Posted Jul 24, 2012, 4:21 PM
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welcome back after a long absence, ldoto
Thanks!!!!
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  #455  
Old Posted Jul 28, 2012, 5:46 AM
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Originally Posted by MolsonExport View Post
I heard that Timkin (ball bearings) is closing in...yup you guessed it, St. Thomas. when will the job hemorrhage ever end?
The jobs haemorrhage will probably end when Canadians agree to work for nothing, 12 hours a day, six days a week, with no holidays and no benefits.

We're living in a very 1984-like society now. I mean, if War = Peace, and Freedom = Slavery, then it isn't much of a stretch to say, Austerity = Prosperity.
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  #456  
Old Posted Jul 28, 2012, 4:08 PM
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The jobs hemorrhage will probably end when Canadians agree to work for nothing, 12 hours a day, six days a week, with no holidays and no benefits.
Bingo

This isn't a London problem. It's a fundamental restructuring in the domestic and global economy.

Folks (especially in manufacturing) here have a choice to make: either lower their standards of living to that of the nations where the manufacturing sector is relocating to, or abandon manufacturing and shift to other types of employment that continues to support the standard of living that they are accustomed to.

The same phenomenon has begun to creep into other sectors of the economy as well and will grow.

Sorry guys, but people in their 20's or younger will, on average, will have a lower standard of living than their parents - and this is a major reason as to why.

Capitalism in a pure form cares not for the corpses it leaves behind.
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  #457  
Old Posted Jul 28, 2012, 9:12 PM
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I agree with everything except one point, which I think isn't taken far enough.

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Originally Posted by Snark View Post
Folks (especially in manufacturing) here have a choice to make: either lower their standards of living to that of the nations where the manufacturing sector is relocating to, or abandon manufacturing and shift to other types of employment that continues to support the standard of living that they are accustomed to.
I'd go as far as saying that our standards of living would end up below that of the countries where jobs have moved to, if Canadians make the first of the two choices proposed. I can't speak for all countries where jobs have moved to, but from my observations having lived in Mexico (home of the former Stiring Plant in St. Thomas and the former Teletech call center in London) for the past seven months, the standard of living is much higher than what many Canadians believe. Sure, there is still a lot of poverty, but I go by what I've personally observed. The cost of living is a fraction of that of Canada (even after factoring in their sales taxes, which are higher than ours): although I've been earning about $22 CAD per day, that amount of money goes a heck of a lot further than in Canada; more than enough to pay for rent, utilities, and food, and still have money leftover. The living standards in some areas are still below that of Canada as a whole, but their living standards are improving by leaps and bounds - arguably at our expense and the expense of the United States.

That said, I think that many Canadians could stand to lower their living standards just a little. Not a lot, but maybe they could give up buying a new iPhone once a year and wait two years instead and continue using a perfectly good device. Having lived abroad for the past seven months, I have come to recognize that many Canadians are never happy with what they have and always want more. I was surrounded by it in elementary and high school, at Western, and at Fanshawe. We do have an excess consumer culture. The culture extends to Canadian unions: workers are never happy with anything you give them, and they always ask for more and throw a temper tantrum when they don't get their way. I saw it first hand when I worked at Western; I used to be pro-union before I worked there.

*******

I do agree with moving to other forms of employment. That requires retraining, but more importantly, for young people it means that there needs to be much improved guidance in high school (instead of the current "do what you want" attitude, which doesn't cut it), and parents recognizing that they don't have all the answers. There are way too many students studying social sciences and not enough studying hard sciences and engineering. What was in high demand in 1972 or 1983 is not what's in high demand now. Universities cater too much to what their paying customers want; there is not enough control from the government to ensure that young people are being trained in fields where there is demand for jobs. Just look at the labour shortage in Alberta.

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Originally Posted by Snark View Post
Sorry guys, but people in their 20's or younger will, on average, will have a lower standard of living than their parents
That, I agree with entirely. At my age, my father was married and was a manager in a large Canadian company. My mother was successfully working as well. Student debt was minimal; my father had none, and my mother had about $500, paid off within a year. The cost structure of universities in Canada has gotten out of control, and our economy is paying for it dearly.

One of the additional reasons is our unbalanced population, where the large baby boomer demographic isn't retiring; as a result, the middle-aged employees are stuck in entry level positions unable to advance, and the young people can't get the entry-level positions. I'm not suggesting the baby boomers should be forced to retire; I know with Canada's sky-high cost of living, my father can't afford to retire right now. But, those who can afford to retire should be retiring. We cannot turn our backs on young people; after all, the more money they earn, the more they'll be paying into the pension and tax funds that will fund our baby boomers as they retire.

*******

The good news for me, after almost a year, I may have new employment in Canada on the horizon. I might end up on the east coast.

Last edited by manny_santos; Jul 28, 2012 at 9:41 PM.
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  #458  
Old Posted Jul 29, 2012, 2:29 AM
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Originally Posted by manny_santos View Post
The cost of living is a fraction of that of Canada (even after factoring in their sales taxes, which are higher than ours): although I've been earning about $22 CAD per day, that amount of money goes a heck of a lot further than in Canada; more than enough to pay for rent, utilities, and food, and still have money leftover. The living standards in some areas are still below that of Canada as a whole, but their living standards are improving by leaps and bounds - arguably at our expense and the expense of the United States.
That won't last forever. Eventually, Mexican workers will become more productive and earn more, and as they do that they will start bidding up the price of goods and services. At some point, Mexican living standards will more or less converge with those in Canada and the United States. Think of it more as an "equalization" of fortunes across countries.
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  #459  
Old Posted Jul 29, 2012, 4:30 AM
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Saw this video on The London Free Press talking about how SoHo is on the rise. It also mentions the SoHo project.

http://www.lfpress.com/news/london/2.../20026721.html
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  #460  
Old Posted Jul 31, 2012, 3:11 AM
Highinthesky Highinthesky is offline
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You guy are completely ignoring the impact of currency on you manufacturing discussion. Over the past 5 to 10 years the Canadian dollar has steadily appreciated against not only the U.S., which just so happens to be our largest market, but also most other major currencies. As this happens it makes our good comparatively more expensive compared to our places like Mexico and even against good produced in the very country Canada is trying to sell their goods in. As long as this trend continues simply reducing labor costs won't solve the problem. Canada either has to increase productivity, which Canada has a poor track record in, to make general good most cost competitively or ship up stream to higher end production that requires a more educated work force.

You can see the inverse in the U.S. where the manufacturing sector has been growing since 2009. Many jobs Americans thought they had lost decades ago for good are coming back due to the U.S. dollar tanking against many other major foreign currencies. Adding to this trend is that China, one of the U.S.'s largest competitors, has seen their currency appreciate great overly the past 4 years against other major currencies.
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