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NEWS REVIEW May 25 - June 6
+ Bank of Canada increased its overnight rate target;for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly raised to 3/4 per cent and the deposit rate is kept at 1/4 per cent, thus re-establishing the normal operating band of 50 basis points for the overnight rate
+ June 1 Band of Canada interest rate announcement + June 8 0 10 Global Petroleum Show, StampedePark, Calgary + June 9 CCAT Event - Innovation and Science of BBQs and Beer, Big Rock Brewery + June 23 - 8th Annual Coast Hotels & Resorts Golf Classic, Westwood Plateau Golf & Country Club in Coquitlam; Contact: Mark Hope + June 29, NAIOP Annual Golf Tournament, Elbow Springs Golf Club; register + July 9 18 Calgary Stampede schedule and tickets + Oct. 20 Calgary Real Estate Forum, TELUS Convention Centre, Calgary + Oct. 21 Calgary Real Estate Leasing Conference, TELUS Convention Centre, Calgary + Nov. 3-4 11th Annual BUILDEX Calgary, BMO Centre, Calgary
COMMENTARY + argument
+ the Stelmach Government decided to make the province more competitive; Alberta Competitiveness Council co-chaired by Ed Stelmach and Bob Brawn held court to develop a model to do something (not sure what!); their backgrounder document is supposed to explain it but I found it told me nothing much at all another example of our government at work(sic) for us; I sure hope they all enjoyed the rubber chicken lunch
+ the province handed over keys; 18 new schools completed through a public private partnership (P3) have been delivered to school boards in Calgary and Edmonton by the Alberta government one month sooner than contracted
+ more candidates for Mayor of Calgary dust-up; Wayne Steward and Bob Hawkesworth threw their hats in the ring this week . .. what is it now, 9 or 10 candidates?Who can keep track?The real contenders will emerge after their Stampede-week flap-jack breakfasts and BBQ fundraisers; those who can raise dough will be still in it after Labour Day, the rest will wither and lose their deposits. My prediction: on election day the last ones standing will be Ric McIver, Bob Hawkesworth and Craig Burrows while the rest of the field will be left in their dust
INFRASTRUCTURE / P3
+ Bird Construction Income Fund sub.secured $118 million contract with Defense Construction Canada for the design/construction ofPleasantville Consolidation Project in St. John's, Nfld.
+ Calgary city council has chickens coming home to roost; they set aside (or so they said they were going to) $40 million for a new main library facility, but never planned one. Now, the current one is falling apart and not code compliant the price tag to fix the decrepit old facility is $53 million . . .
POINTS to ponder
One must beware of ministers who can do nothing without money, and those who want to do everything with money. Indira Gandhi
Each candidate behaved well in the hope of being judged worthy of election. However this system was disastrous when the city had become corrupt. For then it was not the most virtuous but the most powerful who stood for election, and the weak, even if virtuous, were too frightened to run for office. Niccolo Machiavelli
The accomplice to the crime of corruption is frequently our own indifference. Bess Meyerson
(Joe) Clark managed to win, but then he blew it so quickly and became an object of scorn and derision, ... But because he lost and was out of it, they liked him, too. If you were a Conservative leader who won, different story. And look, I was a big, brassy guy who won and won big. I did what I wanted. Brian Mulroney
A hack golfer spends a day at a plush country club, playing golf, enjoying the luxury of a complimentary caddy. Being a hack golfer, he plays poorly all day. Round about the 18th hole, he spots a lake off to the left of the fairway. He looks at the caddy and says, "I've played so poorly all day; I think I'm going to go drown myself in that lake." The caddy looks back at him and says, "I don't think you could keep your head down that long."
OFFICE & INDUSTRIAL LEASING
Mark Kolke, President of MaxComm Realty Advisors, MaxComm Communications and Plandflex Corporation, has been working in real estate finance, management, leasing, sales and consulting work in Alberta for twenty-eight years. His license to practice real estate in Alberta is sponsored by MaxWell South Star Realty where he is an Associate dealing in commercial, residential and agricultural properties. He moved back to Calgary eleven years ago after twenty- seven years in Edmonton. He advises tenants, buyers, developers and institutional clients on issues involving residential developments, commercial real estate and public private partnerships (P3s).
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