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Found 23 results

  1. Can Richard Baker reinvent The Bay? MARINA STRAUSS From Monday's Globe and Mail NEW YORK — Richard Baker, the new owner of retailer Hudson's Bay Co.,mingled with the New York fashion elite as the lights dimmed for designer Peter Som's recent show, offering opinions and taking a close look at the latest in skirts and dresses. It's a stark contrast to previous HBC owner Jerry Zucker, who HBC insiders had a hard time picturing with fashionistas in New York. But Mr. Baker, who made his name in real estate, knows it is time for a new approach at the struggling retailer. “As an entrepreneur I'm not necessarily fixated on how things were done in the past,” says Mr. Baker. “We function and we think much more like a specialty retailer rather than a department store retailer. A specialty retailer is much more nimble and willing to adjust to the environment than department stores, historically. Department stores, frankly, haven't changed a whole lot in 100 years.” His Purchase, N.Y.-based equity firm, NRDC Equity Partners, has snapped up a string of dusty retailers, among them HBC's underperforming Bay and Zellers. The Bay operates in the department store sector which is on the wane, squeezed for years by specialty and discount chains. Zellers struggles in a low-priced arena dominated by behemoth Wal-Mart Canada Corp. The need for a makeover is clear: The Bay's sales per square foot are estimated at merely $142, and Zellers', $149 – a fraction of the estimated $480 at Wal-Mart Canada. At Lord & Taylor, which also lags some of its key U.S. rivals in productivity, Mr. Baker has had some success in its efforts to return to its high end Americana roots. But the 47-store chain is feeling the pinch of tight-fisted consumers and, late last month, he unveiled a shakeup at the top ranks of his firm's $8-billion (U.S.) a year retail businesses to try to shave costs. Still, he is pouring money into the chains in other ways, quickly distinguishing himself from Mr. Zucker, who died last spring. While the former owner had named himself CEO despite his lack of merchandising experience, the new owner has handpicked a team of seasoned merchants at the senior levels of his retailers. And while Mr. Zucker shunned publicity and focused on more mundane, although critical, matters, such as technology to track customer demand, Mr. Baker enjoys the limelight. Now he is betting on the fragile fashion sector as an engine of growth. Last fall he set up Creative Design Studios (CDS) to develop designer lines for Lord & Taylor, now, HBC and, eventually, retailers around the world. Mr. Baker is “looking at every one of the properties with a different viewpoint,” says Walter Loeb, a former member of HBC's board of directors and a consultant at Loeb Associates in New York. “He has new ideas. He doesn't want to keep Hudson's Bay in its present form.” Nevertheless, “this team has taken over a not particularly healthy business,” says Marvin Traub, a former executive at Bloomingdale's who runs consultancy Marvin Traub Associates in New York. “They know and understand the challenges. It will take some time to fix them.” What Mr. Baker looks for in retailers is faded brands that have the potential to be revived. Early this year, NRDC acquired Fortunoff, an insolvent jewellery and home décor chain. The synergies among NRDC's various retailers are tremendous, says Gilbert Harrison, chairman of New York investment bank Financo Inc., which advises Mr. Baker. So is the value of the real estate. At HBC, it is estimated to be worth $1.2-billion, according to industry insiders. That's just a little more than the equivalent purchase price of the retailer itself. Lord & Taylor's real estate was valued at $1.7-billion (U.S.) when Mr. Baker acquired the company in 2006 – about $500-million more than he bought it for. “Initially I thought, good luck,” says Mr. Gilbert. “He's bought this in one of the most difficult retail environments that we've seen for 20 or 30 years. … “But he's protected his downside because the basic real estate values of Lord & Taylor and, now Hudson's Bay, certainly help prevent tragedy.” Mr. Baker likes to tell the story of buying Lord & Taylor for its real estate, and then on the way to signing the deal noticed how well the stores were performing. Like most other U.S. retailers, Lord & Taylor has seen business slow down recently. But its transformation to appeal to the well heeled had begun even before Mr. Baker arrived. It had dropped an array of tired brands, such as Tommy Hilfiger and Nautica, and picked up trendier labels, among them Coach and Tracy Reese. Mr. Baker encouraged the strategy of expanding and upgrading higher margin designer handbags and footwear. Ditto for denim wear and funky styles in the women's “contemporary” section under hot labels such as Free People and Diesel. “My job is to understand that we need to get the best brands in the store.” But he also saw the opportunity to bolster margins by stocking affordable lines in the form of CDS brands, with a focus now on Black Brown 1826 men's wear line. “I thought there was a void in the market for exactly the kind of clothes that my friends and I wear, at a right price. Why should we pay $150 for a dress shirt?” he asks, holding up one for $69. Now Mr. Baker wants to borrow a leaf from the Lord & Taylor playbook for HBC. He wants to introduce better quality products with higher margins, and plans to add his design studio merchandise to the stores early next year. Besides the details, he sees a whole new concept for the big Bay department stores. It would entail shrinking the Bay, possibly introducing Lord & Taylor within the stores, and adding Zellers in the basement and Fortunoff jewellery departments upstairs, with office space at the top. Lord & Taylor would serve to fill a gap in the retail landscape between the Bay and carriage trade Holt Renfrew, he says. For discounter Zellers, he seems to take inspiration from Target Corp., the fashionable U.S. discounter, by putting more focus on branded apparel. But he's not averse to selling parts of the business, or real estate, if the right offer came along either. “We're always available to sell things at the right price, or buy things at the right price.”
  2. http://business.financialpost.com/2011/10/14/rbc-trades-bay-street-for-bay-view/ They are going to have a nice new place.
  3. Bay Street still has Canada’s most expensive office space http://renx.ca/bay-street-still-canadas-expensive-office-space/ Bay Street in Toronto has the most expensive office space in Canada, and no other city comes close to matching the $68.52 per square foot average rent that’s being asked for in the heart of the country’s financial district. JLL Canada recently released its “Most Expensive Streets for Office Space” report, which ranks Canadian cities by their highest asking rents. It shows many companies are still willing to pay a premium for the most expensive spaces, and competition is growing to get into prominent financial, retail and government hubs. “The most significant trend that we are seeing across major markets is that there are a large number of new developments underway,” said JLL Canada president Brett Miller. “Although we have only seen minor changes to the top market rents thus far in 2014, we anticipate that as the new inventory comes to market, overall rents will decrease in the older class-A stock whilst headline rents in new developments may raise the top line rents.” Here are the most expensive streets in nine major Canadian cities 1. Bay Street, Toronto, $68.52 per square foot Bay Street held strong in first place for the fourth year running. It features the headquarters of major Canadian banks and is home to many investment banks, accounting and law firms. Brookfield Place, at 161 Bay St., continues to command the highest office rents of any building in Canada at $76.54 per square foot. The average market rent in Toronto is $34.82 per square foot. (Bay St. looking north from Front St. shown in the image,) 2. 8th Avenue SW, Calgary, $59.06 per square foot 8th Avenue SW again has the highest average gross office rents in Calgary. Large vacancies and availabilities along this corridor typically account for significant activity and command market-leading rates. Large oil and gas companies have historically clustered around the central business district in this area. The top rent on the street is $64.40 per square foot and the average market rent in Calgary is $46 per square foot. 3. Burrard Street, Vancouver, $58.87 per square foot Burrard Street has dropped to third place despite a slight increase in average asking rent from $58.47 in 2013. Approximately 18.3 per cent of downtown class-A office supply is located on Burrard Street between West Georgia Street and Canada Place. The vacancy rate in these six buildings sits at 1.6 per cent, which justifies this location commanding some of the highest rental rates in the city despite the impending influx of new supply that’s putting downward pressure on rents throughout the central business district. The top rent on the street is $66.06 per square foot and the average market rent in Vancouver is $38.81 per square foot. 4. Albert Street, Ottawa, $52.10 per square foot Albert Street remained in fourth position with average rents decreasing slightly from $53.40 per square foot. Albert Street is mainly home to government-related office towers, including numerous foreign embassies, and a few of the largest Canadian business law firms. There seems to be a wait-and-see approach in anticipation of the 2015 federal election regarding the government’s intentions to lease or return more space to the market. The top rent on the street is $53.54 per square foot and the average market rent in Ottawa is $30.90 per square foot. 5. 101st Street NW, Edmonton, $46.71 per square foot The average asking rent dropped from $48.19 per square foot, but 101st Street NW is expected to remain the most expensive in Edmonton with the recent commitment to build the arena district, a large-scale, mixed-use project incorporating the city’s new National Hockey League arena. This is expected to revitalize some of the most important corners on the street. The top rent on the street is $54.15 per square foot and the average market rent in Edmonton is $28.30 per square foot. 6. René-Lévesque W, Montreal, $44.28 per square foot The average gross rent on the street hasn’t changed significantly year over year, but the total value of tenant inducement packages has nearly doubled. The most expensive building on the street (1250 René-Lévesque W) rents for $52.76 per square foot but has seen some downward pressure of two to four dollars on its net rent due to 170,000 square feet of vacant space left behind by Heenan Blaikie. The average market rent in Montreal is $30.38 per square foot. 7. Upper Water Street, Halifax, $36.42 per square foot Upper Water Street has maintained seventh place despite its average asking rent dropping from $36.65 per square foot last year. New construction coming on stream is expected to put downward pressure on rents in existing office buildings. The top rent on the street is $36.62 per square foot and the average market rent in Halifax is $27.44 per square foot. 8. Portage Avenue, Winnipeg, $35.67 per square foot Portage Avenue held strong in eighth place, with its average rent increasing from $35.17 per square foot. The class-A market remains tight and is expected to remain so through 2015. The top rent on the street is $37.32 per square foot and the average market rent in Winnipeg is $23.62 per square foot. 9. Laurier Boulevard, Québec City, $27.50 per square foot Laurier Boulevard held its ninth-place position despite the average rent dropping from $28.14 per square foot. There’s been no notable increase in the average gross rent and the vacancy rate on the street remains low at 5.2 per cent compared to the rest of the market’s 7.8 per cent. The top rent on the street is $28.98 per square foot and the average market rent in Québec City is $21.89 per square foot. JLL manages more than 50 million square feet of facilities across Canada and offers tenant and landlord representation, project and development services, investment sales, advisory and appraisal services, debt capital markets and integrated facilities management services to owners and tenants.
  4. La réouverture de l'usine de Thunder Bay Fine Papers est reportée pour une troisième fois. L'entreprise doit trouver 15 millions de dollars pour assurer son avenir. Pour en lire plus...
  5. Are Bay Street's golden days coming to an end? Eoin Callan, Financial Post Published: Wednesday, February 11, 2009 Some of Canada’s banks are already exploring ways to change their reward structure for investment bankers to avoid creating incentives for dealmakers to hastily arrange risky deals and walk away after collecting their bonuses.ReutersSome of Canada’s banks are already exploring ways to change their reward structure for investment bankers to avoid creating incentives for dealmakers to hastily arrange risky deals and walk away after ... When Ed Clark receives his multi-million-dollar bonus next week, the chief executive of TD Bank will face immediate pressure to return the money. Bay Street's best-paid chieftain is being singled out by shareholders after three of his peers handed back their bonuses at a time when bank bosses around the world are being publicly shamed for dragging the globe into the worst recession in decades. The pressure from investors comes amid growing signs that a deep shift is afoot in the way executives and investment bankers on Bay Street are paid that could have a lasting impact on the industry. Shareholders, regulators and politicians are beginning to push for far-reaching changes in incentives in a bid to mitigate risk and help avoid the catastrophic failures that have plunged the global banking industry into crisis. Some of Canada's banks are already exploring ways to change their reward structure for investment bankers to avoid creating incentives for dealmakers to hastily arrange risky deals and walk away after collecting their bonuses. BMO Financial is in the midst of a thorough overhaul of the way it compensates bankers. The review has not been publicly disclosed, but bankers have been told to expect significant changes after similar moves at international banks such as UBS, which has introduced delays and clawback provisions for bonuses. But other banks are likely to be caught flatfooted as Ottawa prepares to sign up to a set of international guidelines on pay for bankers that are being drawn up in advance of an upcoming summit of the Group of 20 nations in London. Canada's top banking regulator said Wednesday that a consensus was emerging at a special three-day meeting in Paris "to set out sound practice guidelines on compensation for the consideration of both the [Financial Stability Forum] and the G20." "There is [a] general agreement that supervisors have a role to play in assessing whether institutions meet and implement sound practices for compensation," Ms. Dickson added by e-mail from Paris. Reform of compensation practices at banks to mitigate risk is likely to be one of the handful of tangible reforms to emerge from the summit of world leaders, said John Kirton, director of the G20 Research Group at the University of Toronto "There are not many areas of consensus ... compensation is an easy one," said the professor. But policymakers stress that Canada is likely to stop well short of moves by Washington to cap pay or other more interventionist approaches that have accompanied part nationalizations in the U.K. Instead, the approach in this country is likely to involve the supervisor taking into account of compensation schemes when evaluating the level of risk at Bay Street banks and determining the amount of capital they must hold in reserve. This is seen as a more subtle way of pressuring banks to reform their compensation schemes. While a link between compensation and capital requirements would be unwelcome on Bay Street, several bank compensation experts said Wednesday it could create an opening for them to tackle huge wage bills, which are a major cost for financial institutions. But the awarding of hefty bonuses amid a recession induced by the financial system has also triggered a wider social debate about executive compensation, as oft-repeated arguments about retaining "talent" wear thin. While these "moral and ethical" views are not shared by many investors who are critical of executive compensation, they see an opportunity to make common cause. Michel Nadeau, director of the Institute of Governance of Private and Public Organizations, said he was shocked by the level of compensation Canadian bank boards had awarded to executives amid a bruising year for investors. "There is something wrong in that world," said the former executive at Caisse de dépôt et placement du Québec, the Quebec pension fund. Shareholders are also not shy about enlisting the muscle of securities regulators in pushing pay up the agenda. A shareholder group representing many of the country's largest investors cited executive compensation as its "number one" priority for 2009 during a private meeting this week with Ontario Securities Commission, according to documents obtained by the Financial Post. The group also drew the attention of enforcement officials to a probe launched by New York Attorney General Andrew Cuomo, who said Wednesday he was investigating "secret" moves to pay bonuses early at Merrill Lynch. While the investors group did not make allegations of wrongdoing, a person familiar with the discussions said there were precedents for securities regulators investigating compensation matters. The Canadian Coalition for Good Governance, which represents investors with $1.4-trillion of assets under management, has also met with the chairmen of each of Canada's top banks. "Compensation is the big issue right now," said Stephen Jarislowsky, a major shareholder in Canadian banks who manages $52-billion. But his immediate focus is next week's bonus award to Mr. Clark, who was paid a $12.7-million bonus by TD last year, making him Bay Street's highest paid executive. "Ed is the worst offender," said Mr. Jarislowsky.
  6. C'est donc dire que l'action de la société va quitter la Bourse de croissance et intégrer le TSX, l'indice vedette de la Bay Street. Pour en lire plus...
  7. How Quebec Cree avoided the fate of Attawapiskat On the eastern shore of James Bay, a very different story. By Terry Milewski, CBC News Posted: May 14, 2013 9:33 PM ET Last Updated: May 14, 2013 11:07 PM ET Read 119 comments119 Freezing, mouldy homes. Sewage contamination. Sick kids. Unemployment. A blockade on the road to the mine. A hunger strike by the chief. That, it seems, is the news from the Cree of James Bay — at least, as it's defined by the desperate community of Attawapiskat, in northern Ontario. Before that, there was the news from nearby Kashechewan. Flooding. Despair. Suicide. And both James Bay towns endured fresh emergencies this spring as the annual meltwaters exposed, again, their rickety infrastructure. But bad news makes headlines and good news usually does not. So we've heard all about the mess on the Ontario shore of James Bay — and next to nothing about the success on the eastern shore, in Quebec. Little noticed by the world outside, the Cree of northern Quebec are writing a startlingly different story than their cousins on the western shore of James Bay. Self-government. Revenue-sharing. Decent schools and new development. Mining companies being welcomed instead of blockaded. And no hunger strikes. Schoolchildren in the northern Cree community of Wemindji, Que., enjoy decent schools, in contrast to their Ontario cousins in Attawapiskat, who have been in portables since their school closed more than a decade ago. It's taken 40 years, but a long struggle is paying off. The neat streets of Wemindji or Oujé-Bougoumou feel like they're on a different planet than Attawapiskat. If the stop signs weren't in Cree, you'd think the rows of warm, solid homes were in a suburb down south. Shiny new courthouses, band offices, recreation centres and police stations are being completed. There's no crisis to summon reporters from Toronto or Montreal. So why is it so different on the Quebec side of James Bay? [...] http://www.cbc.ca/news/politics/story/2013/05/14/pol-james-bay-cree-northern-quebec-attawapiskat.html
  8. Read more: http://www.nationalpost.com/related/topics/story.html?id=2457341#ixzz0e7omWfCN
  9. Lexus Lanes coming to California's Bay AreaPosted Jul 28th 2008 7:19PM by Noah Joseph Filed under: Etc., Government/Legal Officials are hard at work trying to alleviate the notorious traffic congestion in California. Across the state, drivers sit still in traffic while carpool lanes sit empty, underused by public transit and vehicles carrying multiple passengers. The solution for the Bay Area, as the Metropolitan Transportation Commission sees it, is to allow solo motorists to pay for using the carpool lanes. The commission is working up a proposal that would start with a pilot project in 2010 or early 2011 on I-680 S over the Sunol Grade and in both directions on I-580 between Livermore and the I-680 interchange. To implement the project over the entire 12-highway system would require the approval of state lawmakers (who are currently considering such a bill for Sacramento), as well as an investment of an estimated $3.7 billion. That would be recuperated and then some in the long run, generating an estimated $6 billion over the course of 25 years, the balance of which would be reinvested into the transportation network. If implemented, drivers running late and motivated to pay the fee would be able to move into the carpool lane at designated spots and pay with in-car transponders. Although the fees have yet to be determined, they are estimated at between 20-60 cents per mile at the outset of the program, eventually ramping up to as much as $1 per mile by 2030. Similar systems in place in southern California got the nickname "Lexus Lanes" because of the perception that the rich would use them all the time, leaving those with less means stranded in traffic. However officials cite studies that indicate that the system would be used by a wide cross-section of the socio-economic populace. [source: SF Chronicle via All Cars, All the Time, Image: Justin Sullivan/Getty] Posted Jul 28th 2008 7:19PM by Noah Joseph Filed under: Etc., Government/Legal Officials are hard at work trying to alleviate the notorious traffic congestion in California. Across the state, drivers sit still in traffic while carpool lanes sit empty, underused by public transit and vehicles carrying multiple passengers. The solution for the Bay Area, as the Metropolitan Transportation Commission sees it, is to allow solo motorists to pay for using the carpool lanes. The commission is working up a proposal that would start with a pilot project in 2010 or early 2011 on I-680 S over the Sunol Grade and in both directions on I-580 between Livermore and the I-680 interchange. To implement the project over the entire 12-highway system would require the approval of state lawmakers (who are currently considering such a bill for Sacramento), as well as an investment of an estimated $3.7 billion. That would be recuperated and then some in the long run, generating an estimated $6 billion over the course of 25 years, the balance of which would be reinvested into the transportation network. If implemented, drivers running late and motivated to pay the fee would be able to move into the carpool lane at designated spots and pay with in-car transponders. Although the fees have yet to be determined, they are estimated at between 20-60 cents per mile at the outset of the program, eventually ramping up to as much as $1 per mile by 2030. Similar systems in place in southern California got the nickname "Lexus Lanes" because of the perception that the rich would use them all the time, leaving those with less means stranded in traffic. However officials cite studies that indicate that the system would be used by a wide cross-section of the socio-economic populace. [source: SF Chronicle via All Cars, All the Time, Image: Justin Sullivan/Getty] http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/24/MNBN11U37D.DTL
  10. http://forum.skyscraperpage.com/showthread.php?t=179543 Not sure how the "Tour Centre-Ville" ended up on that list. I guess that the guy who posted this listing thought it was real (i.e. A city the size of Montreal has to have at least one project in the 20 tallest proposals)
  11. Je ne sais pas si c'était dejas proposer, mais je pense que un très bonne idée, c'est de ajouter des lumière tout sur la périphérie de le point jacque-cartier, et utilize les turbine de l'eau pour l'electrification. Que penser vous? Genial? Je pense que ils sont fait ca avec le Bay Bridge de SF, si je me trompe pas.
  12. La déroute des marchés mondiaux commence à faire très mal aux géants canadiens de la finance, comme en témoignent les mauvaises nouvelles qui ont secoué Bay Street hier. Pour en lire plus...
  13. Au moins un des personnages-clés de Bay Street n'est pas un farouche défenseur d'un organisme pancanadien de réglementation des valeurs mobilières. Pour en lire plus...
  14. Leeser Architecture wins competition to design 5 star hotel in Abu Dhabi The Middle East is ushering in some of the most provocative architecture being produced today. And Helix, a bold new hotel won in competition by Lesser Architecture, is no exception. The project which gets its name from its staggered floor plates resulting in an iconic spiraling form, will rest in the Zayed Bay next to Zaha Hadid’s Sheid Zayed Bridge, which is currently under construction. With Helix, Lesser Architecture has devised a new way to consider hotel culture in the Emirates, highlighting elements that are usually unseen and playfully enlivening those parts of the program that are traditionally static and mundane. The hotel contains 206 guest rooms and suites located around a helical floor. Rigid hallways and atria that characterize a typical hotel stay are here dispensed with and replaced with flexible public and guest rooms with unique configurations. As the helix winds upwards, the programmatic elements change from lounges and restaurant on the bay, to meeting rooms and conference facilities, to lounges and cafes, to the luxury indoor-outdoor track on the fifth floor, to finally the upper pool deck on the roof. The pool will have a glass bottom visible from the lower eight floors. Other dramatic features include a restaurant situated below the lobby that is so close to the bay’s waves that they lap onto the restaurant’s edge inside of the glass curtain wall. On its interior, the floors corkscrew around a large void, resulting in a form reminiscent of Wright’s Guggenheim. Leeser says the ramped floors suggest the curves a winding street would take through a bustling town. Though the void seems to offer unmitigated visibility, there will be enclaves for private meetings and guest privacy. Sharon McHugh US Correspondent
  15. Quebec could make $9.5B a year selling water to U.S.: report By NINA LEX, ReutersJuly 16, 2009 3:50 PM Quebec could raise as much as $9.5 billion a year by reversing the flow of three northern rivers to generate power and export water to the United States, according to a report made public yesterday. The Montreal Economic Institute said Quebec could divert floodwaters from the three rivers in the spring, pumping the excess water higher, and then letting it flow south through the Ottawa River to the St. Lawrence. The rivers - the Broadback, Waswanipi and Bell - currently flow into James Bay and then into Hudson Bay. The report said that diverting the floodwater from north to south would boost levels on the St. Lawrence River and let U.S. and Canadian authorities increase their use of freshwater from the Great Lakes without any risk to St. Lawrence - a major international seaway. "The revenue generated by exporting freshwater would be the result of complex negotiations between state, provincial and federal governments," said the report, compiled by former hydroelectric power engineer Pierre Gingras. "Whatever the outcome of negotiations, and given the probable increase in the value of water in the coming years, this revenue from the sale of water would contribute significantly to the financial health of the Quebec government and the general prosperity of Quebecers." The idea of bulk water exports from Canada has always been controversial, for political, environmental and security reasons. But Gingras said the scheme could net the province about $7.5 billion a year - assuming that the extra water supplied some 150 million people who paid a "very reasonable" $50 a year for the water. The project, which Gingras calls Northern Waters, would also build 25 hydroelectric plants and dams along the Ottawa River, generating electricity worth $2 billion a year. He put the cost of the project at $15 billion and said it could be completed by 2022. "It should be a very profitable project for Quebec," he said. But environmental group Great Lakes United said a project like Northern Waters could be devastating to the environment. "The seasonal runoff is not surplus water. The rising and lowering of the rivers and lakes is critical to protecting the marsh which is home to so much wildlife," program director John Jackson said. He said the project was contrary to legislation that forbids the bulk export of Canadian water from any of the five major basins, including the Hudson Bay Basin. "There would be huge legal fights. There is no way you could win those battles," Jackson said. The report - available at http://www.iedm.org - said the environmental impact would be relatively small because the project would only capture "seasonal surplus waters." © Copyright © The Montreal Gazette
  16. (Courtesy of the Financial Post) Its nice to see a Hungarian-Canadian thinking of something big Its a nice location, I have seen it first hand when I was in Montenegro a few years back. The person that spoke to me about this project. They want it to be like the next Monte Carlo. One thing... Montenegro is a really nice country
  17. NRDC Equity buys Hudson's Bay MARINA STRAUSS Globe and Mail Update July 16, 2008 at 1:32 PM EDT Upscale U.S. department store chain Lord & Taylor is about set up shop in Canada. The company that owns Lord & Taylor bought Hudson's Bay Co. on Wednesday and will convert up to 15 of its key Bay department stores to the U.S. retailer's name. The move marries the two oldest department store retailers in North America, and will create an $8-billion (U.S.) merchandising powerhouse for the new buyer, NRDC Equity Partners of Purchase, N.Y. It will combine HBC's Bay, Zellers, Home Outfitters and Fields chains with NRDC's Lord & Taylor and Fortunoff, the jewellery and home decor chain. “By acquiring Hudson's Bay Co. along with previous acquisitions Lord & Taylor and Fortunoff, we will have an unprecedented opportunity to recreate the retail landscape in North America,” said Richard Baker, chief executive officer of NRDC. The newly expanded holding company will be called Hudson's Bay Trading Co. “Enormous potential exists by upgrading the offerings at both the Bay and Zellers and by bringing Lord & Taylor, Fortunoff and CDS into the mix.” CDS, or Creative Design Studios, produces fashion lines. The deal, for an undisclosed amount, comes just three months after the death of Jerry Zucker, the South Carolina businessman who acquired HBC in early 2006 for $1.1-billion and took it private. Mr. Zucker began to make changes at the chains, moving the Bay more upscale and adding new brands to the mix, while renovating Zellers stores and expanding Fields. Last summer, he appointed his chief lieutenant, Robert Johnston, as president of HBC. He was promoted to chief executive officer in April and succeeded Mr. Zucker on his death. Now Mr. Baker, who becomes the 38th governor, or chairman, of HBC, is investing $500-million into the combined new company and is set to put his own stamp on the retailer. Mr. Baker is already familiar with HBC, having sat on its board of directors since 2006. NRDC owns what is believed to be about 20 per cent of HBC. He said in a statement he plans to convert the Bay's most high-profile 10 to 15 stores to Lord & Taylor. It's a high-end U.S. fashion department store chain that was bought by Mr. Baker's holding company in 2006 and has since enjoyed a turnaround under his watch. It has also moved to more high-end fashions after closing some of its weaker outlets, leaving it with 47 stores. HBC has about 580 outlets in all. Lord & Taylor will serve to fill a gap in the Canadian retail landscape between the Bay and the carriage trade Holt Renfrew, Mr. Baker said. He wants to put greater focus on branded apparel at discounter Zellers, he said. He plans to improve its customer service and, in the future, roll out new 125,000-square-foot prototype stores. He will also bring Fortunoff to Canada, both as standalone stores and within the Bay. And he wants to expand NRDC's Creative Design Studios, selling its branded collections throughout North America and internationally. Its brands include Peter Som's eponymous collection as well as the Kate http://www.reportonbusiness.com/servlet/story/RTGAM.20080716.whbcstaff0716/BNStory/Business/home
  18. Taux d'inflation en février pour les grandes villes Le chiffre figurant entre parenthèses est celui du mois précédent. Saint-Jean-de-Terre-Neuve, 2,0 (1,4) Charlottetown-Summerside, 2,6 (1,2) Halifax, 2,2 (2,1) Saint-Jean, N.-B., 1,4 (0,8) Québec, 1,6 (1,1) Montréal 1,9 (1,5) Ottawa 2,0 (1,7) Toronto 1,7 (1,5) Thunder Bay, Ont., 1,1 (0,9) Winnipeg, 2,6 (2,3) Regina 2,6 (1,8) Saskatoon 2,5 (2,0) Edmonton 4,6 (3,7) Calgary 6,5 (6,1) Vancouver 2,5 (2,8) Victoria 1,9 (1,8)
  19. Ce sujet à été démarrer seulement pour les crisses d'épais qui pollue trop souvent ce forum et qui pense qu'il y a juste à Montréal que des choses comme ça arrive. Il n'y a pas juste ici qu'ils trouvent des défauts dans des constructions. Source: CNN Construction crews working on the San Francisco-Oakland Bay Bridge in California discovered a crack that could keep the heavily traveled bridge closed beyond the planned Labor Day weekend shutdown. During inspection of the east span of the bridge, workers found a crack in one of the eyebars on the side of the structure, said Bart Ney, spokesman for the California Department of Transportation. "It's a significant crack -- significant enough to have closed the bridge on its own," he said in a news conference aired on the agency's Web site Saturday night. Ney said the crack has to be repaired immediately and acknowledged that the work may stretch past Tuesday when the bridge was scheduled to reopen. "I want to assure everyone that this repair will be made and we will return the Bay Bridge safer than when we took it out," he said.
  20. Août 2007 Septembre 2007 St. John's (T.-N.-L.) 51,7 41,5 Halifax (N.-É.) 82,6 56,5 Saint John (N.-B.) 8,5 15,6 Saguenay (Qc) 22,3 17,3 Québec (Qc) 171,9 143,5 Sherbrooke (Qc) 21,8 18,8 Trois-Rivières (Qc) 23,7 40,0 Montréal (Qc) 556,5 482,7 Ottawa-Gatineau (partie Qc) 51,6 44,6 Ottawa-Gatineau (partie Ont.) 179,7 192,8 Oshawa (Ont.) 58,7 52,0 Toronto (Ont.) 1 022,3 1 547,8 Hamilton (Ont.) 59,0 63,8 Kingston (Ont.) 25,7 15,5 St. Catharines-Niagara (Ont.) 35,9 29,2 Kitchener (Ont.) 74,5 84,4 London (Ont.) 77,4 78,5 Windsor (Ont.) 33,3 17,9 Greater Sudbury / Grand Sudbury (Ont.) 37,3 28,7 Thunder Bay (Ont.) 6,6 14,3 Winnipeg (Man.) 82,8 90,3 Regina (Sask.) 27,2 25,7 Saskatoon (Sask.) 109,2 49,0 Calgary (Alb.) 366,2 501,8 Edmonton (Alb.) 420,1 297,6 Abbotsford (C.-B.) 17,2 14,6 Vancouver (C.-B.) 535,8 368,3 Victoria (C.-B.) 60,3 79,9
  21. Infinity pool 55 storeys up. EAT your heart out Article Someone please pitch this to the City of Montreal to allow developers to build to the sky is the limit or at least turn the tower at the olympic stadium into a huge water slide lol
  22. Announced new routes: Toronto-LA, Toronto-Nashville and Calgary-Thunder Bay. No new routes in Montreal, no new growth in frequencies despite considerable cuts in Western Canada