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Found 18 results

  1. (Courtesy of The Montreal Gazette) I guess that is a step in the right direction
  2. du NationalPost Nobody is selling real estate and few are buying it, so how do you value it? The question dominated a panelist discussion that included the leaders of some of the largest real estate companies in the world. The consensus at the 14th annual North American Real Estate Equities conference, put on by CIBC World Markets, is the Canadian market will see little activity in 2009. Pinned down on what Toronto's Scotia Plaza might fetch in today's market, Andrea Stephen, executive vice-president of Cadillac Fairview Corp., said she couldn't answer. "It is difficult because there is a small pool of buyers," said Ms. Stephen who passed the question on to Tom Farley, chief executive of Brookfield Properties Corp. which is now building the Bay-Adelaide Centre, the first new office tower in Toronto's financial core in 15 years. Mr. Farley noted only three major assets have traded in the past seven years, the last being the TD Canada Trust Tower in Toronto. That was sold at $723/square foot, he said. Ms. Stephen said that figure might be "little rich" in today's market, but said it's hard to establish a real price. When Cadillac, which is owned by the Ontario Teachers Pension Plan Board, bought the Toronto-Dominion Bank's office tower assets the price was about $300 a square foot but that was eight years ago. There is no real pressure on any of the major owners of Canada's office towers to sell, so the type of fire sales that have been seen in the United States are less likely. "You have eight entities that control 90% [of the major towers]. It's ourselves and seven pension funds," said Mr. Farley. "We can weather the storm." Not everyone on the panel was as confident about the Canadian market. David Henry, president of retail landlord Kimco Realty Corp. which is based in the United States but has some holdings in Canada, said rental rates are "falling of the cliff." He did note the company's Canadian portfolio is holding up better than its U.S. holdings. He said there will be merger opportunities as prices continue to fall. Mr. Henry, said capitalization rates have been rising with alarming speed. The cap rate is the expected rate of return on a property, the higher the cap rate the less a property is worth. "We saw cap rates go from 6 to 8.5 in the United States. It may not go as high [in Canada] but it could go to 8," he said, referring to the retail sector. Dori Segal, the chief executive of First Capital Realty Corp., said he still hasn't seen the buying opportunities. "There is not a single grocery anchored shopping centre for sale in Toronto, Montreal, Vancouver, Calgary or even Victoria for that matter," said Mr. Segal.
  3. (Courtesy of The Globe and Mail) If TMX does look to merge with an exchange somewhere, who do you think would be their best fit?
  4. MONTREAL — Monday’s CBC-Ekos poll found that 42 per cent of 1,001 Quebec anglophone respondents have considered leaving the province following last September’s Parti Québécois election victory. Promising them anonymity, I asked two anglos who are exceptionally familiar with this attitude for their thoughts. One of them, a natural-resources executive, is himself leaving Quebec this month. This born-and-bread Montrealer earns $300,000 to $500,000 most years, which puts him in top one per cent of income earners. He’s the sort of person whom students wearing the red square regard with suspicion while demanding that he pay higher taxes to help finance their entitlements. But they won’t get his help any more. His furniture is being shipped next week. Several months ago — after the PQ victory — he turned down an offer to become president of a natural-resources company working in Labrador. The reason: “The owners wanted me to live in Montreal.” What’s wrong with that? Primarily the taxes, he says. The fiscal crunch was bad enough when the Liberals were in power — Quebec in 2012 ranked second in Canada (after Newfoundland and Labrador) for combined local, provincial and federal taxes. When he earned half a million dollars in stock options several years ago, Quebec took 39 per cent in taxes. Ontario would have taken 30 per cent. So that’s where he’s moving — eastern Ontario. He’ll wave goodbye to the sovereignty threat and the income-tax hike that the Marois government imposed on Jan. 1. (It brings the rate for people earning $100,000 or more to 25.75 per cent from 24 per cent.) Was language also factor? No and yes, he says. No because he’s fluently bilingual — he’s a fan of French TV. “The anglos who left Quebec for language left a generation ago,” he says. “The rest of us learned French.” But, yes, the linguistic climate is still aggravating. The vigorous 60-year-old owns a modest natural-resources firm in Africa, and hates having to communicate to the Quebec government on corporate matters in French. What also rankles is how ordinary people — a cable technician visiting his West Island home, for example, or a security scanner at Trudeau — sometimes refuse to speak in English. “I feel like a foreigner in my own country.” Also weighing in his decision to leave is the PQ’s hesitation to push forward quickly with Plan Nord. His company’s employees are in Africa, not here, so no one is losing a job. But this most indebted of provinces is losing his considerable tax revenue — and that of others whom, he says, are likewise trickling into Ontario or into northern New York State. His parting thoughts. “The government needs to cut expenditures, cut tax rates and mean it when it says it is open for business.” It also has to grasp that the Internet makes for mobility. “Members of my board of directors live on different continents, and I hold board meeting from my home on Skype. Nothing keeps me in Quebec.” Moral: “The government has to make people want to live here.” Now there’s a radical thought. Sharing it is my second interviewee. He’s a partner in the Montreal office of a headhunting firm with operations in dozens of countries. This veteran recruiter of executive talent for local companies says, “Montreal has a shallow talent pool, and it’s become shallower since the PQ’s election. “The problem is not just that anglos are leaving Quebec — they’ve been leaving for years and years. The problem is also that we’ve built a great big fence around Quebec that effectively keeps outside talent out. Any dynamic economy has to cross-fertilize with other cities and bring in new talent.” The election has made that tougher. He estimates that 20 to 30 per cent of Americans whom his firm approaches now consider the city, at least at first view. Yet only 10 per cent of Canadians from other provinces do. Why the difference? “Canadians are more aware of conditions here.” He sighs: “I try to put a positive spin on coming here — I talk about the opportunity to learn French and the joie de vivre.” But the barriers to entry are imposing. Like the Ontario-bound executive, he says that, despite the low cost of living here, taxes are the No. 1 deterrent. No. 2 is Bill 101’s restriction on access to English schools. Other handicaps: the difficulty in obtaining social services in English, the shrinking size of the English community (which reduces the options on where some newcomers want to live) and, not least, the problems that two-income families encounter. Many executives’ spouses are lawyers, doctors, accountants or dentists, for example, and they cannot pursue their careers without passing French-proficiency tests. To be sure, these problems existed before the election. “But,” he says, “before the vote we had a government that at least was pro-business and sought political stability. Now we have a government that’s pro-socialism and is in effect pro-instability.” The bottom line: “Quebec is being starved for intellectual capital.” It’s a vicious circle: As Quebec loses talent it becomes more difficult to attract talent, and so more businesses leave and there is less demand for talent. It’s déjà vu: We saw far more intense versions of this scenario after the 1976 election of the PQ and the 1995 referendum. And if that history is any guide, we know that PQ sees the starvation of that capital as a worthwhile price to pay when pushing for sovereignty. Expect no relief. Read more: http://www.montrealgazette.com/news/Henry+Aubin+Taxes+Bill+drive+people+away/7981947/story.html#ixzz2LMmH4Xdi
  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. CNS) Media Advisory - WestJet announcement in Montreal +------------------------------------------------------------------------------+ Media Advisory - WestJet announcement in Montreal 2017-02-10 12:00:08.545 GMT Media Advisory - WestJet announcement in Montreal Canada NewsWire CALGARY, Feb. 10, 2017 CALGARY, Feb. 10, 2017 /CNW/ - WestJet, Canada's most trusted airline, is committing to serve its eastern guests more than ever before. On Monday, February 13, the airline, along with the Honourable Minister of Transportation, Marc Garneau, will welcome a new chapter in Montreal. We hope to see you on board at the unveiling of this new adventure. When: Monday, February 13, 2017 Where: InterContinental Montreal, 360 Saint-Antoine Street West Who: WestJet Executive Vice-President, Commercial Bob CummingsThe Honourable Minister of Transportation, Marc Garneau Program: * 9:30 a.m. – Guest registration * 10:00 a.m. – Formal program to commence * Media interviews to follow RSVP: Media are asked to RSVP to [email protected]
  7. MONTREAL, March 29 /CNW Telbec/ - Mr. Michel Leblanc, President and CEO of the Board of Trade of Metropolitan Montreal, is pleased to invite media representatives to the Strategic Forum of the Board of Trade, which will focus on major projects in Montréal, on Wednesday, March 30, 2011, at 7:30 a.m. With the Mayor of Montréal, Gérald Tremblay, to be on hand, along with a number of experts and nearly 500 participants, this unique event will enable to learn more about how various key and shaping Montréal projects are advancing. The major development projects will be on-hand: The Montréal of tomorrow, an overview of the city's major projects Emilio Imbriglio, Partner, Raymond Chabot Grant Thornton TOWARDS MAJOR PRIVATE PROJECTS The impact of condo development on the Montréal landscape Jacques Vincent, Co-President, Prével Urban renewal, from Angus to Quadrilatere Saint-Laurent: The need for a territorial approach Christian Yaccarini, President and CEO, Angus Development Corporation The Windsor sector: Major developments for the Bell Centre and its surrounding area Salvatore Iacono, Senior Vice President, Development, Eastern Canada, Cadillac Fairview Corporation Ltd. LARGE-SCALE HEALTH INFRASTRUCTURES Sainte-Justine UHC - Grandir en santé: Innovation in personalized medicine for mothers and children Dr. Fabrice Brunet, Executive Director, Sainte-Justine University Hospital Center MUHC Normand Rinfret, Associate Executive Director and COO McGill University Health Centre The Jewish General Hospital Dr. Hartley Stern, Executive Director, Jewish General Hospital and Philippe Castiel, Director of Planning and Real Estate Development, Jewish General Hospital CHUM Christian Paire, Executive Director, Centre hospitalier de l'Université de Montréal MAJOR INSTITUTIONAL PROJECTS A space for life Charles-Mathieu Brunelle, Executive Director, Montréal's Nature Museums The UdeM's Outremont Campus Guy Breton, Rector, Université de Montréal The Innovation District: Progress report and guidelines for its implementation Yves Beauchamp, Director General, École de technologie supérieure and Heather Munroe-Blum, Principal and Vice-Chancellor, McGill University The redevelopment of the CBC/Radio-Canada site Maryse Bertrand, Vice-President, Real Estate, Legal Services, and General Counsel CBC/Société Radio-Canada The Quartier des spectacles Jean-Robert Choquet, Director, Department of Culture and Heritage, Ville de Montréal and Stéphane Ricci, Coordinator, Quartier des spectacles project, Ville de Montréal The Silo No. 5 and the Bassins du Nouveau Havre: Major revitalization projects for Montréal Cameron Charlebois, Vice-President, Real Estate, Quebec, Canada Lands Company Date: Wednesday, March 30, 2011 Time: From 7:30 a.m. to 12:30 p.m. Where: Palais des congrès de Montréal 1001 place Jean-Paul Riopelle Room 710 The Board of Trade of Metropolitan Montreal has some 7,000 members. Its primary mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity and competitiveness. The Board of Trade is Quebec's leading private economic development organization. Contacts RSVP with Sylvie Paquette Advisor Media Relations by phone at 514 871-4000 ext. 4015 or by email at [email protected]
  8. Despite its abundance of culture, attendance is low. It’s hard to imagine that cosmopolitan Montreal, with its feted music scene, mountains of arts funding, work-to-live inclination and literary sensibility, would place anywhere but at the very top of a list of Canada’s Most Cultured Cities. An even bigger surprise is to find it near the bottom. True, cultural opportunities abound in Montreal. There’s the world-class Montreal Symphony Orchestra, L’Orchestre Métropolitain, L’Opéra de Montréal, Les Grands Ballets Canadiens, a half-dozen music festivals, including the Montreal International Jazz Festival and Pop Montreal, and no fewer than a dozen museums. “But the index isn’t about whether something exists,” says Paul Cappon, president and chief executive of the Canadian Council on Learning. “It’s about whether people actually use it.” And when you crunch the numbers, looking at how many Montrealers actually went to the ballet, for instance, or visited the McCord Museum of Canadian History last year, the locals look a lot more like rubes than the cultural leaders many in the rest of Canada imagine them to be. Only one in four Montrealers visited a museum last year, compared with nearly half of all Victoria residents. More Winnipeggers Scores:http://www2.macleans.ca/2010/05/20/smart-cities-2010-canadas-most-cultured-cities/ Source:http://www2.macleans.ca/2010/05/20/why-does-montreal-rank-so-poorly/
  9. NEARLY $630 MILLION IN FOREIGN INVESTMENT AND TWO NEW INTERNATIONAL ORGANIZATIONS ATTRACTED; HELP TO OVER 1,000 SKILLED FOREIGN WORKERS TO ESTABLISH IN GREATER MONTRÉAL MONTREAL, April 15 /CNW Telbec/ - On the occasion of its 14th Annual Meeting held today with 200 members and partners attending, Montréal International (MI) presented its results for the year 2009. Among the highlights were the metropolitan economic development organization's success in contributing to attract nearly $630 million in foreign investment, two new international organizations and over 1,000 skilled foreign workers into Greater Montréal. On the innovation front, MI supported five promising projects in high-tech industries in Metropolitan Montréal. As for promoting the region's advantages on the international stage, some 40 activities were undertaken in foreign markets. At the event - which welcomed Mr. André Lauzon, Executive Producer and Head of Electronic Arts Mobile Montréal as guest speaker - the Acting President and CEO of Montréal International, Mr. Luc Lacharité, emphasized: "The competence and dedication of MI's staff, combined with the support and collaboration of the organization's members and partners, once again has generated further substantial benefits for the metropolitan region's economic competitiveness and international status, in spite of difficult world economic conditions." Foreign investment In 2009, MI helped attract $626.3 million in foreign investment into Greater Montréal. This investment, nearly three-quarters of which is in high-technology sectors and will create or maintain over 2,900 jobs in the metropolitan region, comes 56% from North America, 32% from Europe and 12% from Asia. A further indicator of the added value of MI's results is that over half (55.3%) of the projects were new set-ups. International organizations In terms of attracting international organizations (IOs), the MI 2009 Activity Report mentions the decision of two IOs to set up in Montréal, as well as the official opening of the secretariats of two other IOs in the metropolis. Various international promotional and networking activities were also organized among the IOs community during the year. Skilled foreign workers In 2009, the International Mobility team handled 1,025 files of skilled foreign workers on behalf of 262 businesses, institutions and international organizations in Greater Montréal. In total, 1,784 individuals benefited from MI help and career counselling to settle in the region. The impact of this specialized foreign workforce is very positive for Greater Montréal, as their combined earnings will represent more than $155 million over three years. This qualified workforce also boosts the region's expertise in key sectors. Innovation Last year, MI supported five promising projects in innovation development in Greater Montréal: - Research and innovation initiative in computer-generated images, a Québec Film and Television Council project; - Mobility Alliance, a TechnoMontréal project in cooperation with Alliance numérique to develop and market new applications and new content for mobile platforms; - ScienceAffaires meetings, in cooperation with the Natural Sciences and Engineering Research Council of Canada (NSERC), a pilot project to maximize sharing among scientists, artists, economic development players and the business world; - A market intelligence study in the medical drug sector, in cooperation with the Québec Consortium for Drug Discovery (CDQM); - The 2009 Aerospace Innovation Forum, organized by Aéro Montréal. International promotion of Greater Montréal At the top of the list of MI's key promotional achievements in 2009 is its upgraded website. The 2009-2010 edition of "Greater Montréal's Attractiveness Indicators" has also drawn keen interest. This annual MI publication also won an APDEQ (Québec Association of Economic Development Professionals) award in the best information tool category. Lastly, numerous promotional events were organized last year, including a mission to New York in which MI partners participated. MI Board of Directors The 2010-2011 Board of Directors of Montréal International is made up of the following members (N=new member, R=renewal): Private Sector Members: - Mr. Luc Benoît, President, AECOM Tecsult; - Mr. André Boulanger, President, Hydro-Québec Distribution ®; - Mr. Jean-Jacques Bourgeault, Vice Chairman of the Board, Montréal International, and Corporate Director; - Mr. Pierre Brunet, Chairman of the Board of Directors, Montréal International, and Corporate Director; - Mr. Renaud Caron, Principal Vice President, Strategic Development, CGI Group; - Me C. Stephen Cheasley, Treasurer, Montréal International, and Partner, Fasken Martineau ®; - Mr. James C. Cherry, President and Chief Executive Officer, Aéroports de Montréal ®; - Mr. Richard Filion, Director General, Dawson College, and President, Regroupement des collèges du Montréal métropolitain (Metropolitan Montréal College Alliance); - Mr. Michel Guay, Chairman of the Board, TechnoMontréal ®; - Mr. Luc Lacharité, Acting President and Chief Executive Officer, Montréal International; - Mr. Guy LeBlanc, Managing Partner, Montréal Office, PricewaterhouseCoopers (N); - Me David McAusland, Partner, McCarthy Tétrault ®; - Mr. Andrew T. Molson, Vice Chairman, Molson Coors Brewing Company ®; - Mr. Marc Parent, President of the Board of Directors, Aéro Montréal, and President and Chief Executive Officer, CAE; - Ms. Louise Roy, Chancellor, Université de Montréal, Chair of the Board, Conseil des arts de Montréal, and Cirano invited Fellow ®; - Mr. Jean-Pierre Sauriol, President and CEO, Dessau; - Mr. Hubert Thibault, Vice President - Institutional Affairs, Fédération des caisses Desjardins du Québec ®; - Ms. Sylvie Vachon, President and Chief Executive Officer, Montréal Port Authority ®; - Dr. Judith Woodsworth, President, Concordia University. Public sector Representatives: - Mr. Michael Applebaum, Mayor of the Borough of Côte-des-Neiges - Notre-Dame-de-Grâce, Vice Chair of the Executive Committee of the City of Montréal, responsible for Services to citizens, Relations with the Boroughs and Housing, Member of the Agglomeration Council and the Board of Directors of the Communauté métropolitaine de Montréal (CMM) (N); - Mr. Richard Deschamps, Member of the Executive Committee, responsible for Major Projects 2025, Economic development, Infrastructures and Roads, City Councillor, LaSalle Borough, City of Montréal ®; - Mr. Claude Haineault, Mayor of the City of Beauharnois ®; - Mr. Luis Miranda, Mayor of the Anjou Borough, City of Montréal ®; - Ms. Sylvie Parent, Member of the Executive Committee, City of Longueuil ®; - Mr. Jean-Marc Robitaille, Mayor of the City of Terrebonne and Warden of MRC Des Moulins ®; - Mr. Jean Séguin, Sous-ministre adjoint à la Métropole, Ministère des Affaires municipales, des Régions et de l'Occupation du territoire (MAMROT); - Mr. Gérald Tremblay, Mayor of the City of Montréal and President of the Board, Communauté métropolitaine de Montréal (CMM) ®; - Ms. Rita Tremblay, Vice President, Policy and Planning, Canada Economic Development for Québec Regions; - Mr. Gilles Vaillancourt, Mayor of the City of Laval and Vice President of the Board, Communauté métropolitaine de Montréal (CMM) ®. A full report of Montréal International's 2009 activities is available on its website: http://www.montrealinternational.com. About Montréal International Montréal International (MI) was created in 1996 as a result of a private/public partnership. Its mission is to contribute to the economic development of metropolitan Montréal and to enhance its international status. Its mandates include attracting foreign investment, international organizations and qualified workers, supporting the development of innovation and metropolitan clusters, and promoting the competitive and international environment of Greater Montréal. Montréal International is funded by the private sector, the Communauté métropolitaine de Montréal (Montréal Metropolitan Community), the City of Montréal and the Governments of Canada and Québec. Since its creation, Montréal International has helped to attract more than $7.5 billion in foreign investment to Greater Montréal. From these investments, more than 43 000 jobs have been created or maintained. To date, MI's activities have also allowed more than 25 international organizations to establish themselves in the city and attract more than 4 000 qualified foreign workers. To learn more, please visit MI Web site at: http://www.montrealinternational.com. For further information: Benoît Lefèvre, Communications Advisor, Montréal International, (514) 987-9323, [email protected] http://www.newswire.ca/en/releases/archive/April2010/15/c2834.html
  10. Nortel sheds 1,300 jobs as losses mount Bert Hill, Canwest News Service Published: 3 hours ago OTTAWA - Nortel Networks announced 1,300 more layoffs Monday, the departure of several top executives, and pay and hiring freezes as it struggles with tough economic conditions and internal trouble. The company also announced big write-downs of assets and other costs, which drove losses to $3.41 billion in the third quarter ending in September, compared to a profit of $27 million a year earlier and almost 30 times the losses of $113 million in the June quarter. Sales fell 14 per cent to $2.32 billion and the company warned that overall sales for the full year will fall by four per cent, at the low end of a major warning announcement in September. Nortel said that chief technology officer John Roese will leave the company Jan. 1. He is the top executive responsible for the 4,600-employee Ottawa operation. Other people leaving include chief marketing officer Lauren Flaherty, global services president Dietmar Wendt, executive vice-president global sales Bill Nelson and chief legal officer David Drinkwater. In addition to more than 2,000 job cuts announced earlier this year, Nortel said another 1,300 jobs will be eliminated, with 25 per cent of the cuts this year and the balance in 2009. Nortel said that 1,200 jobs still have to go from the earlier rounds of layoffs. "In September, we signalled our view that a slowdown in the market was taking place. In the weeks since, we have seen worsening economic conditions, together with extreme volatility in the financial, foreign exchange and credit markets globally, further impacting the industry, Nortel and its customers," said chief executive officer Mike Zafirovski. "We are therefore taking further decisive actions in an environment of decreased visibility and customer spending levels."
  11. Montreal to triple some parking fines Last Updated: Monday, August 17, 2009 | 2:39 PM ET CBC News The price of parking illegally in Montreal could triple by the fall. The city says it's seeing more and more problems with people parking illegally, and plans to boost ticket prices starting in October. Executive committee member Sammy Forcillo says current fines simply aren't big enough to stop people from parking where they shouldn't. He says with some parking lots charging $18 to park, some drivers are choosing to take a chance on getting a $30 parking ticket. The city says it's most concerned with people parking in places that are completely illegal, such as near an intersection where a parked car might block visibility. In those cases, the city plans to hand out $100 tickets come Oct. 1. "If there's a car in front or if a person wants to stop there it's a matter of public safety, and for the handicapped I think it's common sense also. Handicapped people need to be respected in our society so that's the main idea," said Claude Dauphin, the executive committee member responsible for public security. The fine for cars parked at expired meters or in a designated handicap parking spot will also rise, to $60. Forcillo says this simply brings Montreal in line with many neighbouring cities. It's estimated the increase in fines will net the city an additional $13 or $14 million, but Forcillo denies this is a cash grab. He says it's simply about getting people to respect the rules. City council is expected to vote on the issue next week.
  12. preuve que les opportunites rentables seront prises par Air Canada au depart de Montreal "MONTREAL, Aug. 8, 2013 /CNW Telbec/ - Air Canada today announced that its current seasonal flights between Montreal and San Francisco will be extended to year-round flights beginning in November 2013. All flights will be operated with Airbus A319 aircraft featuring Executive Service, complimentary seatback entertainment, the ability to collect Aeroplan miles and lounge access for qualified customers. Air Canada's Montreal-San Francisco flights are timed to offer convenient connections with the carrier's international flights from Montreal-Trudeau airport to London, Paris, Brussels, Frankfurt, and Geneva, as well as its domestic network including Ottawa, Québec City, and Halifax. "Demand for year-round Air Canada flights between Montreal and San Francisco has been strong from business and leisure travelers and we look forward to being able to maintain a year-round schedule with the support of Montreal's business and tourism communities. With the extension of our San Francisco flights on a year-round basis, in addition to our daily Los Angeles service, Air Canada is solidifying its position as the only airline offering non-stop service between Montreal and California, with up to five flights per day," said Marcel Forget, Air Canada's Vice President, Network Planning. "Both our San Francisco and Los Angeles flights have been scheduled to enable easy connections to Air Canada's extensive domestic and international network via Montreal." "This decision to offer the Montréal-San Francisco service all year long should not only please the Montréal community but also travellers connecting through Montréal-Trudeau between Europe and the U.S. West Coast," said James Cherry, President and Chief Executive Officer of Aéroports de Montréal. "Clearly, we are reaping the benefit of our investments in making Montréal-Trudeau a more efficient hub." Montreal-San Francisco daily year-round Flight Depart Arrival AC 781 Montreal at 17:35 San Francisco at 21:00 AC 780 San Francisco at 08:10 Montreal at 16:29 " Montreal-Trudeau Airport (YUL) is an important Air Canada hub serving more than 6.2 million of the airline's customers in 2012. Air Canada, together with regional airlines operating under the Air Canada Express banner, operates more than 100,000 flights to/from YUL and 67 destinations: 21 destinations in Canada, 16 in the United States, 23 in the Caribbean and Mexico, and seven European gateways
  13. It’s déjà-vu all over again. With the market updates being so identically close to the ones from November and December, January’s market news are no news at all. Still, let’s give the breakdown, to keep the tradition. Here we go: Compared to January 2008, last month we had an increase of 12% of properties listed in the market. New listings decreased by 14% Overall actual sales decreased by 37% Prices are still increasing: Condos: +4% Single Family Homes and Plexes: +3% If you take a look at the past reports you will see that not much has changed. The prices have not decreased, and sales continues to be slow. Michel Beausejour, FCA, Chief Executive Officer of the GMREB, notes: “It’s obvious that the sales decline is mostly due to a drop in consumer confidence. It’s not surprising to see this decline, even though the real estate market has been quite solid for the last 30 years or so, which is as far back as our statistics go.” http://montrealrealestateblog.com/