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Restaurant Hélène-de-Champlain - 16M$
un sujet a posté ErickMontreal dans Projets oubliés et/ou en suspens
Repairs to Hélène de Champlain building force eatery to shut Restaurant's owner plans to close it down when lease expires at end of 2009 ALAN HUSTAK, The Gazette Published: 8 hours ago The building that houses the Hélène de Champlain restaurant on Île Ste. Hélène needs massive repairs, and the restaurant will close for good in 16 months when its lease expires. Pierre Marcotte, the French- language television personality who has leased the red sandstone building from the city since 1983, says the property needs between $3 million and $5 million in repairs. "We have no choice but to close," he said. "The city has decided not to renew its lease after 2009 in order to undertake the repairs. That could take a year or more to complete. The electrical and heating systems are outdated, and major repairs to the building itself are necessary." Initially meant to be a sports pavilion, the island chalet was built during the Depression as a Quebec government make-work project. It was designed by Émile Daoust to resemble a Norman château, and the grounds were landscaped by Frederick Todd. It was turned over to the city in 1942 and in 1955 became a municipal restaurant, but didn't get a liquor licence until 1960. In 1966, Mayor Jean Drapeau had the building redone as the official residence for Expo 67's Commissioner-General, Pierre Dupuy. It also had a hall of honour next to the main dining room that was used by Drapeau as a reception centre for visiting dignitaries and heads of state. The reception for French President Charles de Gaulle was held in the chalet after he delivered his controversial "Vive le Québec libre" speech. Even though the restaurant proved to be a money-loser, Drapeau kept its five dining rooms open until 1977, when they were closed because of a labour dispute. They reopened in 1981. Marcotte said he does not plan to renew his lease, and no one is certain what will happen to the building once the repair work is done. In the past, there has been talk of converting the site into a hotel for high rollers at the Montreal Casino. ahustak@ thegazette.canwest.com -
http://www.newswire.ca/news-releases/dollarama-invests-in-new-warehouse-in-montreal-and-revises-capex-guidance-for-fiscal-2017-567425461.html MONTRÉAL, Feb. 2, 2016 /CNW Telbec/ - Dollarama Inc. (TSX: DOL) ("Dollarama" or the "Corporation") announced today that its Board of Directors approved an investment of approximately $60 million in the construction of a new warehouse in Montreal, Quebec. The new 500,000 square-foot warehouse will be located in the Lachine borough near the intersection of highways 13 and 520, in close proximity to Dollarama's existing, centralized warehousing and distribution operations. The new facility will increase Dollarama's total warehousing capacity by approximately 40% on a square footage basis, thereby accommodating capacity requirements as the Corporation continues to expand its store network.
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In Little Burgundy, close to Atwater Market, The Burgundy Lion, The Corona and Joe Beef. Probably on this empty lot. www.hudsonhouse.ca
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http://finance.yahoo.com/news/canadian-baby-boomers-stand-inherit-100000876.html TORONTO, June 6, 2016 /CNW/ - Baby boomers in Canada will inherit an estimated $750 billion over the next decade in the country's largest-ever transfer of wealth, one that is expected to alter the retirement landscape and have potentially significant economic impacts, finds a new CIBC Capital Markets report. Canada currently has just over 2.5 million people over the age of 75, of which close to 45 per cent are widowed, the report says. The number of elderly people in Canada today represents a 25 per cent jump over the level seen a decade ago. "We estimate that the coming decade will see close to $750 billion exchanging hands, almost 50 per cent more than the estimated amount of inheritance received over the past decade," says Benjamin Tal, Deputy Chief Economist, CIBC Capital Markets, who authored the report The Looming Bequest Boom – What Should We Expect? "The transfer is estimated to boost the asset position of Canadians 50-75 years old by no less than 20 per cent." There will be even more Canadians aged 75+ in the next decade, who will not only be the largest cohort of that age group on record, but also wealthiest, with an estimated total net worth north of $900 billion. He expects this shift in wealth, coming when boomers themselves are approaching retirement age, can potentially impact Canada's retirement landscape as well as many facets of the economy, including labour force participation, the real estate markets and transform income inequality into wealth inequality. -
Super de belle entrevue ici (Ça confirme plusieurs de nos discussions) As city goes, so do airports (2016-02-13 page B1) As chief executive of the non-profit authority Aéroports de Montréal, James Cherry has invested close to $2 billion in improvements to Pierre Elliott Trudeau Airport over the last decade. He sat down recently with Montreal Gazette contributor Peter Hadekel. Q What economic impact does an airport have on a city? A You may have the best airport in the world but if there isn't an economically vibrant city behind it to drive that traffic, then airlines aren't interested. We are more profitable and have better growth than most of the other airports, but our bond rating isn't as good. The reason is that more than 50 per cent of the rating of an airport is the economic activity in the city around it. Our ability to offer air service is far more affected by the economic vitality of the city. (I know Mark, you told us many times) Q Why did it take so long to convince Chinese airlines to come here? A They weren't necessarily convinced that this was a viable market. It took us years to convince them. Now we have Air China flying three times a week to Beijing and they are enchanted with the results (GREAT). The next logical thing would be for Air China to offer more than three times a week or ultimately, within a few years, go daily. Q So what's the key to getting more destinations? A The city has to be realistic. I get people telling me all the time: 'Why don't you have a daily flight to Helsinki? It's an emerging city.' Well, take a look at the numbers: 10 people a day go from Montreal to Helsinki. I'm sorry, you're not going to get a flight there. In order to get a direct flight at least three times a week, depending on the type of aircraft, you typically need between 30,000 and 40,000 passengers a year. Q What destinations are you adding in 2016? A Reykjavik and Lyon are starting in May. Air Canada to Casablanca is starting next summer, as well. Philadelphia, Denver and Houston are also starting this year. Remember, it's very tough for an airline to make money just on tourist business. They need that business traffic, that's what pays the overhead. Q What about the market for connecting passengers going through Montreal? A It's 18 per cent and growing, but that's not considered high. Toronto and Vancouver would be about 30 per cent. We've been targeting something like 25 per cent. Virtually all that connecting traffic is on Air Canada. We have more destinations for people to connect to today. There are 140 destinations served directly by this airport with more than 30 airlines. Transit passengers are very important because there's revenue to be gained from having them go through your airport. They are also important to justify a flight. There are two or three European destinations to which we would not have flights, were it not for connecting passengers. Zurich, Brussels and Geneva are good examples. Q The domestic traffic in Toronto is three times what it is here and in Vancouver and Calgary it's close to two times. How do you explain that? Calgary it's close to two times. How do you explain that? A Quebecers don't fly domestically. They don't vacation in Alberta, B.C. or Ontario and the business traffic here is as much north-south as east-west. Q You offer financial incentives to attract airlines to serve Montreal. Is that getting more expensive? A Yes it is. Airlines know that everybody wants them. They will not establish a new route unless they are getting some sort of incentive. The logic of it is that the upfront cost tends to be expensive because of promotions and everything else. And there's a period where they tend to lose money so we offer them some support, usually in the form of lower landing fees or a budget to help them promote the flight. Q Is the cross-border competition significant from airports like Plattsburgh and Burlington? Do you feel it? A No, and it's going down this year because of the dollar. It's way down. Q You have complained in the past about the rent that Aéroports de Montréal is charged by the federal government and the property tax due to the city of Montreal. Is that still an issue for you? A Yes, I take every opportunity to talk about it but I know it falls on deaf ears. So far, the federal government has shown absolutely no interest in solving the problem. The city of Montreal is even worse. They just close their ears. Between the two of them, we will pay close to $100 million this year. Property taxes and rent take 20 per cent offthe top just to provide a public service. This is happening across the country. More than $300 million a year goes to the government of Canada from the airports. Q In the surveys that you do, what is the biggest concern for passengers using the airport? A Access to the site is the No. 1 complaint: getting in and out, traffic, the Dorval Circle. I'm still looking at the bridge to nowhere (part of the new Dorval interchange under construction). It's been a bridge to nowhere for five or six years. We rebuilt all the roads on this property to match with it. This was all supposed to be ready in 2011. We spent $100 million of our money making that happen and it was done on time. And we're still waiting for the project to be completed. Q What's going on with Mirabel following the decision to demolish the passenger terminal? A Mirabel is still operating for freight. There are between 15,000 and 20,000 aircraft movements there. Business aircraft use it, too. Bombardier is up there with Pratt Whitney. We characterize it as a business, industrial and freight airport. We're going to put between $50 million and $60 million up there in the next year to redo the principal runway. We're not abandoning Mirabel; the vocation is solid. The decision wasn't made in a vacuum. We consulted with the city of Montreal, the Quebec government and Transport Canada. There was nothing wrong with the process. We were very highly accountable. Q Part of the debate about keeping Mirabel as a passenger airport was the noise and congestion issue at Dorval. Do you think you've managed that issue adequately? A Essentially, over the last 14 years we've doubled the passengers at this airport with the same number of aircraft movements. (interesting) The airlines have gotten very good at this. They don't fly half-empty planes. Is it perfect? No - there will always be people who are not going to be happy with noise. (Also, YUL dates back to 1941; nobody was around then...Overall noise also went down since Q What's the case for public transit to the airport? A We have over 11,000 parking spaces here and for three months of the year, there's no room. I don't want to build more parking spaces because I think it's a dumb thing to do and will encourage more people to bring cars here. We need two things: a Dorval Circle that works and a train that connects to downtown. Q The Caisse de dépot et placement is looking at funding the rail project. Do you think this is providing some new momentum? A It's interesting. They haven't progressed far. But from our perspective there should be better transit to the West Island that incorporates the airport. If the Caisse makes this happen, we're ready. We've done all sorts of ridership studies and feasibility studies, and we've given them all of it. Q You have a train station location that's ready in the centre of the airport? A Yes. In 2006, when we started the project to build out the U.S. jetty and a new hotel, we had a choice to make. We said: 'If we don't do this now, we're going to shut off any possibility of having a train station.' So the shell is there. We're parking cars in it now but it could be fitted out within a year and ready to roll. -
Not a good day for retail! http://ottawacitizen.com/business/local-business/sony-announces-it-will-close-all-sony-stores-in-canada Sony Corp. will close all 14 of its Sony Stores across Canada as the company continues to struggle to reshape its business. The company made the announcement on Thursday in a memo to the employees of its stores — including its Ottawa location in the Bayshore Shopping Centre — telling them that the stores will cease operations within the next two months. The company confirmed the news in a statement released to The Citizen. “Over the next 6 to 8 weeks we are closing our Sony Stores in Canada and will redirect all of this business through our national network of Sony retailers, our online store … as well as through our Sony-trained Telesales team,” read the statement. “Our network of Sony authorized retailers offer a full range of Sony products and will be supported by our in-store Merchandisers and Product Trainers on an ongoing basis in order to ensure that our past customers have continued access to knowledgeable Sales consultants who can support their ongoing Sony electronics needs.“ The company’s news came on the same day that Target announced it would be shuttering all of its retail stores in Canada. Sony did not say how many jobs are affected by the decision. The closure comes as Sony is struggling to reshape its business amidst years of losses. For the current fiscal year which ends in March, the company is estimating a $1.9 billion (U.S.) loss. Within the last year the company sold its Vaio personal computing business and spun out its TV manufacturing operations. It is now reported to be considering exiting the TV business entirely. The company is also considering options for its lacklustre cellular phone division.
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Attention aux fausses annonces de propriétés à vendre!
un sujet a posté ScarletCoral dans Discussions générales
Ça s'est vu avec les autos et la locations d'appartement sur les sites de petites annonces, mais les fraudeurs s'essayent avec la vente de maisons et de condos maintenant. Ils vont jusqu'à monter de faux cabinets d'avocats pour inciter les acheteurs éventuels à leur laisser de grosses sommes d'argent... via CBC Fake real estate ads prey on buyer desire for home deal Police say fraudulent websites targeting potential renters more common than scams to sell homes CBC News Posted: Dec 02, 2013 5:00 AM ET Last Updated: Dec 02, 2013 9:50 AM ET An Ottawa woman says she was shocked to learn the condo she was selling online was also being offered on another website at a deeply discounted price, part of a complicated scam targeting unsuspecting homebuyers. Julie Gutteridge is selling her upscale downtown Ottawa condo for about $260,000, and placed ads with real estate website Grapevine and online classified advertiser Kijiji. She then noticed a nearly identical ad — with the same digital photos she had used on her advertisement — on another real estate website. The one difference: the price. The clone ad listed the condo for $108,000. "I was shocked... because I first heard of it, then I got an email from just a person that had noticed the two listings," said Gutteridge. "They actually used the same description that was on Grapevine. Not only the pictures of my unit, but the same description, address, everything but the unit number ... and of course the contact information," she said. Police investigators have seen a number of fraudulent websites targeting potential home renters, particularly people coming from far-away cities. But for someone to attempt to sell a home that he or she doesn't own is rare and particularly involved. Buyer pressured to close sale quickly "This is fairly elaborate, going to the point of setting up false law firm websites," said Sgt. Mike Noonan with Ottawa police's organized fraud section. "They are duplicating the ad, but drastically reducing the asking price, and that's what seems to jump out at legitimate homebuyers. They see, 'Wow, look at the price of that home and it looks good,'" said Noonan. The key to the confidence game is a reliance on both the desire of a homebuyer to get a good deal, and pressure from the supposed seller to close the deal quickly, says Noonan. CBC Ottawa's Simon Gardner learned this first-hand when he called the number on a duplicate advertisement for a different home — in Orleans, and listed in a duplicate ad for $129,000, or less than half the actual price. Gardner identified himself as "Andrew Gardner" and created a plausible back story after CBC News determined a journalist would be unable to understand how the seller's operation worked if he called and represented himself as such. The man who picked up the phone identified himself as Paul — a name CBC News assumed was fake — and said he couldn't meet Gardner in person because he was in Toronto with clients. He claimed he was selling the home at a discounted price because he was under financial stress and needed money fast, but offered assurances that the home had not been a grow-op. "Actually we do need some money urgently and there is no lien on the house, the house is paid for and it's going really quick. I have a couple of other interested buyers," Paul said. He said in order to close the deal, Gardner would have to deposit $12,000 in a bank account. The man then said his lawyer would contact Gardner with details about the transaction. The man also provided a link to the website of a Toronto law firm specializing in real estate. Law firm not recognized by law society Checks with the Law Society of Ontario reveal the firm doesn't exist, and the phone numbers listed on the website are not active. But nevertheless, Gardner was sent official-looking purchase documents asking him to wire his deposit into a Royal Bank account in Brampton, Ont. The account does exist, but it is unclear whether the account holder is involved or is an unwitting victim in a confidence scam. Noonan said tracking the suspected scammer is difficult, particularly if operating outside Canada. "The internet service providers, we don't seem to be able to track down. Our suspicion is that it's not even originating from within Canada and with a money wire service. Once that money leaves the country, it can be retrieved anywhere in the world," he said. Gardner made repeated efforts to meet with Paul, as well as his lawyer, to try to close the transaction in person, but was met with a series of excuses. After weeks of back-and-forth emails, text messages and phone calls, Gardner identified himself as a reporter and said he was investigating a potential real estate scam. 'How do you sell a house you don't own?' "What scam is that, I don't get you," Paul replied. "Well, let me ask you," said Gardner. "How do you sell a house you don't own?" At that point, the phone went dead, and Gardner received a text a short time later. "Nice try Andrew (Simon) you are a good scam baiter," the text read. "Pls lets drop everything. I am leaving this stupid job. I got forced into this lifestyle." It's not known if anyone has fallen for this kind of fraud, but Gutteridge feels it may already have hurt her chances of selling her place. "They may assume what I have on Grapevine is a scam or [may] not be comfortable moving forward with anything," she said. Noonan said homebuyers should be wary of suspiciously low price homes when the supposed seller never has time to meet. As for home sellers, he said the best you can do is keep an eye on real estate websites to ensure your ad hasn't been duplicated. -
Le patrimoine bâti résidentiel de Montréal n'a pas toujours droit au meilleur des traitements. Certains métiers dont on peut encore admirer les prouesses passées sont aujourd'hui presque oubliés, ce qui rend difficile la restauration. Mais qui veut peut. This beauty can be seen at 2197 Souvenir. I myself am dangerously close to pulling the trigger on a centennial in the area.
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What should the city do with the two quarries in Montreal?
un sujet a posté FollowTheLeader dans Discussions générales
The quarry St-Michel I believe near autoroute 125 and the second being close to autoroute papineau... This area is baffling me. So much unused and wasted land that can be used for something better. Maybe housing developments or something else? Do you think the city is actually going to do something about this zone? Here's the sites in question: http://maps.google.ca/maps?hl=en&ll=45.563583,-73.636261&spn=0.000008,0.010568&z=17&vpsrc=6&layer=c&cbll=45.563583,-73.636261&cbp=12,0,,0,0&photoid=po-46317218 http://maps.google.ca/maps?hl=en&ll=45.5575,-73.622802&spn=0.00003,0.042272&vpsrc=6&layer=c&cbll=45.5575,-73.622802&cbp=12,0,,0,0&photoid=po-38890502&z=15 -
http://tmagazine.blogs.nytimes.com/2011/06/17/montreal-toasts-gaultier/
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(Courtesy of The Montreal Gazette) I'll post my comment soon, stuck doing some paper work right now
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How close does your back yard have to be to a project to qualify you as a NIMBY? http://www.montrealgazette.com/news/system+obviously+flawed/3326262/story.html
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Close Up on [FURNI] VBS.tv did a small video interview on Mike Giles of Furni. He does a lot of wood work. I had a chance to work at Furni for a day and use the laser cutter. Seeing he is good friends with the person I am doing my internship with. Blog So if your in the mood, buy one of their clocks for yourself or a present for someone Please check him out. INSIDER INFO: He is also working on Hi-Fi headphones. It is a concept form at the moment. I will tell you more or post pictures when I see the finish product. All I can say, the idea will be similar to GRADO's GS1000i but far less expensive.
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Les États-Unis ont recensé 524 000 nouveaux chômeurs inscrits dans la semaine close le 10 janvier, soit 11,5% de plus que la semaine précédente. Pour en lire plus...
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Le nombre des nouveaux chômeurs indemnisés aux États-Unis a baissé pour la première fois depuis près d'un mois au cours de la semaine close le 4 octobre. Pour en lire plus...
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Driving in Montreal is an experience Posted By Marshall, Scott Updated 1 hour ago Driving in different places can be difficult to many people. The fear of not knowing where you're going can be very overwhelming. Roads you've never seen before and higher than normal traffic can lead to high anxiety. I was recently in Montreal and if you've ever driven there you'll already know it's an experience of a lifetime. The cab ride from the airport to my hotel was interesting to start with. The driver didn't use his turn signals. Most people will use them at least most of the time. It lets other road users know your intentions. In Montreal, it lets other drivers know what your plans are early enough so they can speed up and block your move. If you're in Montreal you don't signal. That way nobody knows your moves. We all know that fuel prices are higher than we would all like, so the drivers in Montreal decided to work together to save fuel. They follow each other very closely so they can cut down on wind resistance. Race car drivers call this 'drafting'. The cab driver was driving close enough to the traffic in front of them that it looked like they were being towed by the driver in front. I thought it was very nice of the lead driver, or drivers, to avoid suddenly stopping. That was nice of them, don't you think? Most drivers would understand they need to have some response time from the driver in front if they stop suddenly. Wouldn't you? You should leave more of a following distance if the driver ahead of you is unsure of where they are going so they'll have enough room to turn around as necessary. As a side note, following further back also give you more to stop if the lead driver stops suddenly. We should all know that, right? Now, I enjoy playing and watching sports like a lot of people do. I like the competitiveness of sports. Being a pedestrian in Montreal seems like it's a sport to many of the drivers in Montreal, though. When the cab driver was driving along the road and was about to enter an intersection, a pedestrian stepped off the curb right in front of us. There was no horn honking and only a slight swerve was done to avoid hitting them. Maybe you need to drive as close as possible to a pedestrian when you're driving there? I didn't see the rules for this one, so maybe I'm wrong. I may have exaggerated my thoughts here, but every event did actually happen. The bottom line here is no matter where you drive, keep space around your vehicle and communicate to other road users. Plan your route so you know where your turns are and get into the proper lane well in advance. If you do all of this, you'll be safe driving - even while in Montreal! Scott Marshall is the director of training for Young Drivers of Canada. He has spent almost 20 years in driver training. For questions or comments regarding this column e-mail Scott directly at smarshall@youngdrivers.com http://www.wellandtribune.ca/ArticleDisplay.aspx?e=920904
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GE Hydro to close Montreal plant in 2008, affecting 450 workers
un sujet a posté mtlurb dans L'actualité
GE Hydro to close Montreal plant in 2008, affecting 450 workers 1 hour ago MONTREAL - The GE Hydro plant in the Montreal suburb of Lachine will close next June, eliminating 450 jobs. The subsidiary of American giant General Electric has made more than half of the Hydro-Quebec turbines installed at the James Bay dams. The plant's activities will end with the completion of these contracts, employees were told. The company said it is restructuring its activities, adding that its hydroelectric division has been losing money. The laid-off workers are mostly welders, machinists and warehouse workers. The closure of the 89-year-old facility is another blow to Montreal's manufacturing sector, which has been struck hard by the appreciation of the Canadian dollar and growing competition from emerging countries, particularly China. At its peak production in the 1970s, GE Hydro employed more than 3,500 workers -
Cash-strapped Quebec Liberal wing warns of closing CAMPBELL CLARK From Thursday's Globe and Mail September 27, 2007 at 5:07 AM EDT OTTAWA — The Liberal Party's Quebec wing has warned Leader Stéphane Dion that it needs a quarter-million-dollar cash injection by Friday or it will have to close its Montreal office and lay off staff. The threat is not a sign of a financial crunch but part of an internecine battle between the party's national headquarters, run by officials close to Mr. Dion, and its Quebec machine over the transfer of funds, according to party officials. The Montreal office will remain open, Liberal officials said, but the dire warning has piled onto a run of troubles for Mr. Dion. It all seems to be centred in Quebec, where grumbling about his leadership has been loudest since last week's poor showing in three by-elections, including the loss of the party's traditional safe seat of Outremont. Mr. Dion yesterday lost potential star candidate Marc Garneau, the former astronaut, who said he was frustrated by the leader's delay in appointing him to run in the safe Liberal seat of Westmount-Ville Marie. And even an MP who leapt to his defence, Raymonde Folco, of the suburban Montreal riding of Laval-Les Iles, appeared to damn him with faint praise and conceded that Mr. Dion was "not getting through" in Quebec. At his age, Ms. Folco told reporters, the leader is not going to be able to change radically, so strong players in the party might have to travel with him in the province. Former Liberal cabinet minister Jean Lapierre said on CTV-Newsnet that the party's Quebec director-general, Serge Marcil, told Mr. Dion "that if [the Liberals] don't deposit a quarter of a million dollars by Friday, they probably will have to close down the office in Montreal and they can't even honour the payroll." When reached by telephone, the president of the party's Quebec wing, Robert Fragasso, said he would call back, but he did not. A spokesman for the Liberal Party in Ottawa, Elizabeth Whiting, said that the party's Montreal office will not close. She said that a request for funds came from Quebec, but did not discuss the details, although she acknowledged that Ottawa and the Quebec Liberals disagree over money. The public departure of Mr. Garneau was another blow to Mr. Dion yesterday. The former head of the Canadian Space Agency had wanted to carry the party's banner in Westmount Ville-Marie, but decided to give up on running for the party because he doubted Mr. Dion would choose him. The Liberal Leader has said he will name a candidate in the riding, but, having been passed over for an appointment in Outremont, Mr. Garneau said he decided he will no longer try to run.
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Ok, j'ai lu les rêgles mais je crois que ce texte devrait être quand même placé ici. Si les admin pensent autrement, simplement supprimé http://inventorspot.com/articles/worlds_tallest_building_be_talle_6398 At 13,123 feet high, the massive, mountain-shaped building envisioned by Japan's Taisei Construction Company would overshadow Mount Fuji itself by nearly 700 feet. That's the equivalent of NINE Empire State Buildings stood one upon the other! The building, known as the X-Seed 4000, is designed to house up to one million residents on as many as 800 floors! Designers have had to consider tricky questions of temperature and pressure differentials between the base and topmost floors, and are looking to utilize solar power to solve these and other critical issues. The cost, you ask? Somewhere between $300 and $900 billion... what's that, an Iraq War or two? Couple of manned Mars missions? Quite do-able - if you're Japan, one of the world's richest countries. One might think the Japanese government would never allow the placing of an edifice the size of the X-Seed 4000 anywhere near sacred Mount Fuji, but Taisei's plans call for the monumental mini-city to rise relatively close by, rising up upon huge caissons sunk deep into the mire underlying Tokyo Bay Could it happen? Well, skeptical citizens of Florence, Italy, scoffed at Leonardo da Vinci's detailed drawings of helicopters and other flying machines. Yet da Vinci's dreams did take flight, centuries later. I wouldn't rush to put down a deposit on a unit just yet, but Taisei's outrageous X-Seed 4000 proposal has the same potential to fly high.
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Pandox Establishes In North America - Acquires InterContinental Hotel
un sujet a posté mtlurb dans L'actualité
Pandox Establishes In North America - Acquires InterContinental Hotel in Central Montreal Stockholm, Sweden, July 11, 2007 - (Hugin) - PRESS RELEASE Stockholm, 11 July 2007 Pandox establishes in North America - acquires InterContinental Hotel in central Montreal Pandox acquires well-known InterContinental Hotel in Montreal for CAN$ 49 million, approximately EUR 35 million. It is the company's first acquisition in North America. The hotel consists of 26-stories and is an integral part of World Trade Centre with direct access to the Montreal Convention Centre (Palais des Congrès). The hotel consists of 357 rooms of international size, and offers the customers a full- service product with restaurants, bar, fitness and large conference and meeting facilities. The hotel is located in Old Montreal, close to the financial district. "It is with both respect and curiosity that we broaden our geographical market. The acquisition creates a good base for our establishment in Canada and North America. We hope this will be the beginning of a selective expansion in North America", says Anders Nissen, CEO Pandox AB. "North America is a natural development of Pandox' internationalisation, which creates good conditions for the competence and knowledge the company possesses to develop hotel businesses in a broad geographical market." Pandox and IHG (InterContinental Hotels Group) have signed a management agreement and will in close cooperation develop, modernise and run the hotel. The hotel is in need for upgrading and through an investment program of approximately CAN$ 11 million, approximately EUR 8 million, all hotel rooms will be refurbished, new F&B products developed as well as upgrading of the meeting and lobby areas. Montreal is Canada's second largest city with a population of 3.6 million people and ranks first in the country in the number of international organisation headquarters. There is a strong demand for hotel rooms in the city. A demand that is expected to increase as Montreal becomes a more and more important city for congresses and meetings. "We are looking forward to strengthen the collaboration with IHG with whom we have good experiences of", says Anders Nissen. Seller of the hotel is InterContinental Hotels Group and Cadim, a division of the Caisse de dépôt et placement du Québec. __________ For further information: Anders Nissen, CEO Pandox AB, +46 (0)8 506 205 50, +46 (0)708 46 02 02, anders.nissen@pandox.se Pandox is one of the leading players in the hotel property market in Europe. The portfolio consists of 44 hotels of which eleven operations, and with a total of around 10,000 rooms located in Sweden, Denmark, Germany, Belgium, Switzerland, the UK, the Bahamas and Canada. Pandox hotels operate under well-known brands such as Hilton, InterContinental, Crowne Plaza, Radisson SAS, Holiday Inn, Scandic, Elite, Clarion, Quality, First or through independent distribution channels. Copyright © Hugin ASA 2007. All rights reserved. Pandox http://www.pandox.se/ ISIN: SE0000394181 Stock Identifier: SSE.PAND July 11, 2007 From the Asia Corporate News Network http://www.acnnewswire.net Topic: General Announcement Sectors: Financial General
