Rio Tinto Extends $38.1 Billion Alcan Bid to Oct. 23
As of Sept. 14, investors had sold 495,139 shares into the offer, representing less than 0.2 percent of Alcan's outstanding common shares, Rio said. The deal is conditional on Rio gaining acceptances for two-thirds of the shares, the company said.
I'm actually taking a buisness course soon, I hope we talk about this, its really interesting.
You guys really think that it will be 2US=1CND$??
Something is going to happen to bring it back down, i know it!
China's eco will PWN in 10 years-20 years.
Compare the economy now with the economy the last time we were at par.. it's extremely similar.. high oil prices, high demand for natural resources, high optimism for the economy..
Then the quebecers went insane and started Canadian instability questions.. what I'm saying is that something will come along and knock it back down.. and it'll probably be something stupid.
Compare the economy now with the economy the last time we were at par.. it's extremely similar.. high oil prices, high demand for natural resources, high optimism for the economy..
And don't forget the US was in an unpopular/unwinnable war at the time also.
I hope everyone realizes that first of all Canada has more oil reserves than Iran. Second, the US prohibits the importation of oil from Iran so why would the US need to go to a 'showdown' with Iran over oil?
Why does a rich successful poker player keep playing poker? Because he wants to win it all and maintain his expensive lifestyle. The US and their allies want to control all of Earth's resources so they can jack up the price on us and make even more money.
Are you nuts? Iran is gonna geta nuke and drop it on Israel.. Not everything in the middle east is about oil.. but I know it's the vogue argument for hippies who like to think they understand the world at some higher level..
Are you nuts? Iran is gonna geta nuke and drop it on Israel.. Not everything in the middle east is about oil.. but I know it's the vogue argument for hippies who like to think they understand the world at some higher level..
It doesn't matter what they advertise as the reason for opposing Iran is. The final result is going to be the same.
I can't believe the crying today for the BoC to lower rates.
Agreed. Inflation is still running high, and it's not the BoC's duty to artificially intervene in the currency trading market. Sure speculators have run up the dollar, but things will settle down eventually.
I'm shocked the Fed cut rates by 50 BP considering the US inflation pressures and the relatively decent rate of growth in spite of the housing bubble issues. Let the bubble burst already. Let investors that didn't price in the risk associated with their assinine investments get bit. Don't subsidize home owners that should never have been buying a home given their credit history. And punish all the hop on the bandwagon speculators that figured I can do a "Flip this House" reno and make a 50% return no problem.
Just becuase housing "typically" will appreciate doesn't mean that it will in every single market all the time. What happens when all the boomers sell their houses and move into retirement homes? Oversupply? Here's hoping (yes I rent).
When the average Joe idiot is jumping into the market leveraging himself beyond reason, figuring he can't lose, that's when the idiots need to get smacked upside the head (and in the pocket book). Let the cooler heads prevail and mop up the mess when things settle out from all the foreclosures.
Just becuase housing "typically" will appreciate doesn't mean that it will in every single market all the time. What happens when all the boomers sell their houses and move into retirement homes? Oversupply? Here's hoping (yes I rent).
When the average Joe idiot is jumping into the market leveraging himself beyond reason, figuring he can't lose, that's when the idiots need to get smacked upside the head (and in the pocket book). Let the cooler heads prevail and mop up the mess when things settle out from all the foreclosures.
You are missing the big picture. Canada is dominated by very large banks which for years have fleeced there way to record profits year after year by imposing service charges equated to a form of Bank tax on your money. At least a Billion in profit for each Bank. Collectively I am sure these amounts, add to more than the Federal Surplus every year. From a banks perspective the larger the mortgage loan the more interest they can bring in. Most of these loans are insured so the banks don't lose the insurance company does. (if defaulting starts to happen.) To compound this drive to issue ever larger mortgages the Real Estate agent vultures push up prices to get the maximum commission they can get. These agents are for the commission and only the commission. Politicians are not going to help. The Municipalites benefit from higher taxes on higher property assessments. The municipalites need there tax money. Where's the downward pressure on housing prices going to come? Real Estate advertising is Big Business and there is one publication company that dominates this business in Ontario. Greedy Monopolies Everywhere. I suspect if you are a Real Estate agent that doesn't play along with the Real Estate Agent Game, your advertising opportunities quickly dry up.
If you think Baby Boomers are going to provide you an abundent source of housing to be gobbled up by you, think again. An Economic Migrant can come to Canada very easily by getting a work permit the Federal Government is handing out faster than a poker player jumps at a freeroll. These economic migrants come to Canada to get good paying jobs or take your job away from you. Either way you lose. In turn these economic migrants will want what you want: money, cars, houses, etc. This in turn drives prices and interest rates upward. Alot of these Baby Boomers bought houses in the early eighties and early nineties at a fraction of what the Real Estate Agents are asking for. There are cases where a house was bought in the early eighties for $40,000 and is sold today for $400,000. Do you think the Baby Boomers are going to give you their house? You think the Municipalies are going to give in to lower property assessments to collect less property taxes? Dream on, they will sell to the Highest Bidder and that purchaser could be anyone, from anywhere in the world. So your thinking there is going to be an over supply, is not likely. This supply will quickly be gobbled up by economic migrants or foreign investors. If you truely want a house I suggest you do your due diligence. Find a good (relative) value and make that purchase. Prices are not going to fall they are just going to keep going up (or hold steady) for as long as these greedy monopolistic forces are at work. Chances are an economic migrant who was given the red carpet treatment to Canada will buy that baby boomers house at whatever price they are asking. So you lose again.
Banks have responded they are now offering 40 year amortization periods. Go figure. Why? More Interest money!! The Tower of greed is straining my neck. Greed has already defeated you and you don't know it. The best you can do is look for a house the same as you play poker and hope you double up. Good Luck. :mad:
Where's the downward pressure on housing prices going to come?
First of all, I'm not suggesting that the housing market is suddenly going to collapse overnight and there will be rock bottom prices everywhere. But I am suggesting that houses appreciating at rates of 20% or more year over year "probably" isn't sustainable either. A correction is due.
He believes there is going to be an increase in supply of houses and because of this he thinks prices are going to drop. What I can I say. I gave my two cents.
First of all, I'm not suggesting that the housing market is suddenly going to collapse overnight and there will be rock bottom prices everywhere. But I am suggesting that houses appreciating at rates of 20% or more year over year "probably" isn't sustainable either. A correction is due.
I would agree with you but because of the "tower of greed" this is not going to happen any time soon.
The banks make huge profits off service charges. Go to a bank that does not have S/C. I use a bank that has no service charges and I own bank stocks (win/win for me).
The 40 year mortgage is the purchasers problem. They are buying more house than they can afford. I have never had a "bank mortgage", always used a broker to find the best deal. It's an open market. Even a 1/4 pt saves money.
Not even going to comment on your racist rants re Economic Migrants. Sounds alot like the old American cry "They take our jobs". Please crawl back under your rock.
The US housing Market forces are alot different than the Canadian housing Market Forces. If the dollar keeps rising Canada is going to start to look that much more appealing to foreign investors who want to cash in.
Not even going to comment on your racist rants re Economic Migrants. Sounds alot like the old American cry "They take our jobs". Please crawl back under your rock.
How is people coming to canada for no other reason than money racist?? You are likely one of those boomers who bought your house for 40000 and is now selling it for 500000. Dare I trample on your inflated goose.
The US housing Market forces are alot different than the Canadian housing Market Forces. If the dollar keeps rising Canada is going to start to look that much more appealing to foreign investors who want to cash in.
Canada is not even a blip on the world economy radar. Whatever happens to the US, happens to Canada. When the loonie hit parity, there were no news sources outside Canadian ones that mentioned it. Everyone was just reporting the dropping of the US$.
Like I said in an earlier post, the Amero will be implemented soon. It follows in the footsteps of the Euro.
Hmm...France, UK, Iran, ChinaX2, Australia, MSNBC, LATimes, Time, Bloomberg, Forbes, ChicagoTribune, North Dakota, Kentucky - can anybody even read in Kentucky?
How is people coming to canada for no other reason than money racist?? You are likely one of those boomers who bought your house for 40000 and is now selling it for 500000. Dare I trample on your inflated goose.
When you start talking about foreigners coming to take your job, that is a racist comment. Like I said it's akin to the anti-imigration groups in the US.
Don't worry though, they probably don't want any job you can get (You do have a job don't you?)
Help announced for bringing foreign workers to Ontario, Canada
12 December 2006
Improvements to the delivery of the Foreign Worker Program in Ontario were announced on 08 December by Diane Finley, Minister of Human Resources and Social Development Canada, and Michael Colle, Ontario Minister of Citizenship and Immigration. A Regional List of Occupations Under Pressure for Ontario will make the process easier, faster, and less expensive for Canadian employers in the province to hire foreign workers where there are no qualified Canadian citizens or permanent residents available to fill the position.
Regional Lists of Occupations Under Pressure were also introduced in Alberta and British Colombia, where similar shortages in high demand positions occur. Other regions affected by labor pressures also have lists in development.
"Improvements to the Foreign Worker Program are just one way this Government is helping Canadian employers meet their labor demands," said Minister Finley. "The creation of a list for Ontario will make it easier and two-to-four weeks faster for employers to hire temporary foreign workers. This measure will effectively help employers having difficulty finding Canadian workers to fill their human resources needs, while continuing to protect the access of Canadian workers to the labor market."
"We are pleased to continue working with the federal government to ensure that the immigration system matches Ontario's labor market needs," said Mike Colle, Ontario Minister of Citizenship and Immigration. "This is an opportunity that will benefit Ontario's employers and our economy."
To develop a list of occupations for each region, Human Resources and Social Development Canada/Service Canada (HRSDC/SC) use both quantitative and qualitative labor market information specific to each region to determine occupations under pressure. Once the lists are developed they are reviewed every six months to ensure accuracy and continue to reflect current trends in the labor market.
As well as the creation and development of Regional Lists of Occupations Under Pressure, a comprehensive step-by-step guide has been developed for employers with a need to hire temporary workers.
Employers will still be required to first advertise for Canadian workers to ensure that Canadians and permanent residents are given the opportunity to apply for available positions. However, employers will only need to advertise on the Job Bank, Canada's national job website for at least seven days, or conduct similar recruitment activities. For certain low-skilled occupations, employers have to satisfy both conditions.
In order to develop occupational lists, regional HRSDC/SC Labor Market information officials use both quantitative data and qualitative information specific to a region to determine if an occupation is potentially under pressure. Once a list is developed, it will be updated at least once a year or as shifts in the labor market dictate.
An employer seeking to hire a temporary foreign worker for an occupation which appears on a regional occupations list is still required to obtain a Labor Market Opinion (LMO) which describes the impact the entry of a temporary foreign worker would have on the Canadian labor market. They will also still need to satisfy all other Foreign Worker Program criteria (e.g. wages and working conditions) in order to receive a positive LMO (i.e. confirmation).
These economic migrants come to Canada to get good paying jobs or take your job away from you. Either way you lose.
Clearly they are not taking someone's job. How do we lose if someone emigrates to Canada and fills a job in an area that we have a shortage of workers?
Comments
RIM, THI, X, TS-B, TD, BMO, RY, BNS, MDA, NT, BBDB, BCE, ENB, SU, AL, IMO, L, TRP
Rio Tinto Extends $38.1 Billion Alcan Bid to Oct. 23
As of Sept. 14, investors had sold 495,139 shares into the offer, representing less than 0.2 percent of Alcan's outstanding common shares, Rio said. The deal is conditional on Rio gaining acceptances for two-thirds of the shares, the company said.
Shocker.
Compare the economy now with the economy the last time we were at par.. it's extremely similar.. high oil prices, high demand for natural resources, high optimism for the economy..
Then the quebecers went insane and started Canadian instability questions.. what I'm saying is that something will come along and knock it back down.. and it'll probably be something stupid.
Most of those are protected by the gov't.. Notice all the ones that werent got sold off this year..
And don't forget the US was in an unpopular/unwinnable war at the time also.
Yeah but the US are in a war to steal natural recources now.. and they can win.
Why does a rich successful poker player keep playing poker? Because he wants to win it all and maintain his expensive lifestyle. The US and their allies want to control all of Earth's resources so they can jack up the price on us and make even more money.
Kissinger Admits Iran Attack Is About Oil
http://www.propagandamatrix.com/articles/september2007/210907_about_oil.htm
Are you nuts? Iran is gonna geta nuke and drop it on Israel.. Not everything in the middle east is about oil.. but I know it's the vogue argument for hippies who like to think they understand the world at some higher level..
It doesn't matter what they advertise as the reason for opposing Iran is. The final result is going to be the same.
Do we atleast agree that Iran is the real threat in the area and not Iraq?
lol yes. And I'm happy to be living in Canada and not the US...everywhere is a danger zone across the border.
I'm shocked the Fed cut rates by 50 BP considering the US inflation pressures and the relatively decent rate of growth in spite of the housing bubble issues. Let the bubble burst already. Let investors that didn't price in the risk associated with their assinine investments get bit. Don't subsidize home owners that should never have been buying a home given their credit history. And punish all the hop on the bandwagon speculators that figured I can do a "Flip this House" reno and make a 50% return no problem.
Just becuase housing "typically" will appreciate doesn't mean that it will in every single market all the time. What happens when all the boomers sell their houses and move into retirement homes? Oversupply? Here's hoping (yes I rent).
When the average Joe idiot is jumping into the market leveraging himself beyond reason, figuring he can't lose, that's when the idiots need to get smacked upside the head (and in the pocket book). Let the cooler heads prevail and mop up the mess when things settle out from all the foreclosures.
You are missing the big picture. Canada is dominated by very large banks which for years have fleeced there way to record profits year after year by imposing service charges equated to a form of Bank tax on your money. At least a Billion in profit for each Bank. Collectively I am sure these amounts, add to more than the Federal Surplus every year. From a banks perspective the larger the mortgage loan the more interest they can bring in. Most of these loans are insured so the banks don't lose the insurance company does. (if defaulting starts to happen.) To compound this drive to issue ever larger mortgages the Real Estate agent vultures push up prices to get the maximum commission they can get. These agents are for the commission and only the commission. Politicians are not going to help. The Municipalites benefit from higher taxes on higher property assessments. The municipalites need there tax money. Where's the downward pressure on housing prices going to come? Real Estate advertising is Big Business and there is one publication company that dominates this business in Ontario. Greedy Monopolies Everywhere. I suspect if you are a Real Estate agent that doesn't play along with the Real Estate Agent Game, your advertising opportunities quickly dry up.
If you think Baby Boomers are going to provide you an abundent source of housing to be gobbled up by you, think again. An Economic Migrant can come to Canada very easily by getting a work permit the Federal Government is handing out faster than a poker player jumps at a freeroll. These economic migrants come to Canada to get good paying jobs or take your job away from you. Either way you lose. In turn these economic migrants will want what you want: money, cars, houses, etc. This in turn drives prices and interest rates upward. Alot of these Baby Boomers bought houses in the early eighties and early nineties at a fraction of what the Real Estate Agents are asking for. There are cases where a house was bought in the early eighties for $40,000 and is sold today for $400,000. Do you think the Baby Boomers are going to give you their house? You think the Municipalies are going to give in to lower property assessments to collect less property taxes? Dream on, they will sell to the Highest Bidder and that purchaser could be anyone, from anywhere in the world. So your thinking there is going to be an over supply, is not likely. This supply will quickly be gobbled up by economic migrants or foreign investors. If you truely want a house I suggest you do your due diligence. Find a good (relative) value and make that purchase. Prices are not going to fall they are just going to keep going up (or hold steady) for as long as these greedy monopolistic forces are at work. Chances are an economic migrant who was given the red carpet treatment to Canada will buy that baby boomers house at whatever price they are asking. So you lose again.
Banks have responded they are now offering 40 year amortization periods. Go figure. Why? More Interest money!! The Tower of greed is straining my neck. Greed has already defeated you and you don't know it. The best you can do is look for a house the same as you play poker and hope you double up. Good Luck. :mad:
/g2
/g2
First of all, I'm not suggesting that the housing market is suddenly going to collapse overnight and there will be rock bottom prices everywhere. But I am suggesting that houses appreciating at rates of 20% or more year over year "probably" isn't sustainable either. A correction is due.
He believes there is going to be an increase in supply of houses and because of this he thinks prices are going to drop. What I can I say. I gave my two cents.
I would agree with you but because of the "tower of greed" this is not going to happen any time soon.
Hmm lets see.
The banks make huge profits off service charges. Go to a bank that does not have S/C. I use a bank that has no service charges and I own bank stocks (win/win for me).
The 40 year mortgage is the purchasers problem. They are buying more house than they can afford. I have never had a "bank mortgage", always used a broker to find the best deal. It's an open market. Even a 1/4 pt saves money.
Not even going to comment on your racist rants re Economic Migrants. Sounds alot like the old American cry "They take our jobs". Please crawl back under your rock.
House prices to drop much lower: Greenspan
http://www.reuters.com/article/newsOne/idUSL2146624120070921?sp=true
The US housing Market forces are alot different than the Canadian housing Market Forces. If the dollar keeps rising Canada is going to start to look that much more appealing to foreign investors who want to cash in.
How is people coming to canada for no other reason than money racist?? You are likely one of those boomers who bought your house for 40000 and is now selling it for 500000. Dare I trample on your inflated goose.
Canada is not even a blip on the world economy radar. Whatever happens to the US, happens to Canada. When the loonie hit parity, there were no news sources outside Canadian ones that mentioned it. Everyone was just reporting the dropping of the US$.
Like I said in an earlier post, the Amero will be implemented soon. It follows in the footsteps of the Euro.
Really?
http://news.xinhuanet.com/english/2007-09/21/content_6765883.htm
http://www.forbes.com/markets/feeds/afx/2007/09/21/afx4144118.html
http://www.bloomberg.com/apps/news?pid=20601082&sid=afxbKdU9Qhzg&refer=canada
http://www.news.com.au/heraldsun/story/0,21985,22458161-5005961,00.html
http://www.bloomberg.com/apps/news?pid=20601082&sid=anziUeJ4HfCo&refer=canada
http://www.marketwatch.com/news/story/canada-ponders-causes-effects-looniegreenback/story.aspx?guid=%7BFC52CB8A-BFB7-4B88-BFDB-2308B785F60B%7D&dist=hplatest
http://business.guardian.co.uk/story/0,,2174428,00.html
http://www.time.com/time/business/article/0,8599,1664094,00.html
http://www.chicagotribune.com/business/chi-fri_barnhartsep21,0,6422707.story
http://www.latimes.com/business/la-fi-canada21sep21,1,732328.story?coll=la-headlines-business
http://www.msnbc.msn.com/id/20897672/
http://www.iht.com/articles/ap/2007/09/18/business/NA-FIN-Canada-Dollar-Fed-Rates.php
http://www.presstv.ir/detail.aspx?id=24003§ionid=3510203
http://english.people.com.cn/90001/90777/6267695.html
Hmm...France, UK, Iran, ChinaX2, Australia, MSNBC, LATimes, Time, Bloomberg, Forbes, ChicagoTribune, North Dakota, Kentucky - can anybody even read in Kentucky?
When you start talking about foreigners coming to take your job, that is a racist comment. Like I said it's akin to the anti-imigration groups in the US.
Don't worry though, they probably don't want any job you can get (You do have a job don't you?)
Maybe dalini is a crop picker out of work then.
12 December 2006
Improvements to the delivery of the Foreign Worker Program in Ontario were announced on 08 December by Diane Finley, Minister of Human Resources and Social Development Canada, and Michael Colle, Ontario Minister of Citizenship and Immigration. A Regional List of Occupations Under Pressure for Ontario will make the process easier, faster, and less expensive for Canadian employers in the province to hire foreign workers where there are no qualified Canadian citizens or permanent residents available to fill the position.
Regional Lists of Occupations Under Pressure were also introduced in Alberta and British Colombia, where similar shortages in high demand positions occur. Other regions affected by labor pressures also have lists in development.
"Improvements to the Foreign Worker Program are just one way this Government is helping Canadian employers meet their labor demands," said Minister Finley. "The creation of a list for Ontario will make it easier and two-to-four weeks faster for employers to hire temporary foreign workers. This measure will effectively help employers having difficulty finding Canadian workers to fill their human resources needs, while continuing to protect the access of Canadian workers to the labor market."
"We are pleased to continue working with the federal government to ensure that the immigration system matches Ontario's labor market needs," said Mike Colle, Ontario Minister of Citizenship and Immigration. "This is an opportunity that will benefit Ontario's employers and our economy."
To develop a list of occupations for each region, Human Resources and Social Development Canada/Service Canada (HRSDC/SC) use both quantitative and qualitative labor market information specific to each region to determine occupations under pressure. Once the lists are developed they are reviewed every six months to ensure accuracy and continue to reflect current trends in the labor market.
As well as the creation and development of Regional Lists of Occupations Under Pressure, a comprehensive step-by-step guide has been developed for employers with a need to hire temporary workers.
Employers will still be required to first advertise for Canadian workers to ensure that Canadians and permanent residents are given the opportunity to apply for available positions. However, employers will only need to advertise on the Job Bank, Canada's national job website for at least seven days, or conduct similar recruitment activities. For certain low-skilled occupations, employers have to satisfy both conditions.
In order to develop occupational lists, regional HRSDC/SC Labor Market information officials use both quantitative data and qualitative information specific to a region to determine if an occupation is potentially under pressure. Once a list is developed, it will be updated at least once a year or as shifts in the labor market dictate.
An employer seeking to hire a temporary foreign worker for an occupation which appears on a regional occupations list is still required to obtain a Labor Market Opinion (LMO) which describes the impact the entry of a temporary foreign worker would have on the Canadian labor market. They will also still need to satisfy all other Foreign Worker Program criteria (e.g. wages and working conditions) in order to receive a positive LMO (i.e. confirmation).
http://www.workpermit.com/news/2006_12_12/canada/foreign_worker_assistance_ontario.htm
Interesting read. That's exactly what I was referring to. I don't see how it supports your argument though.
Clearly they are not taking someone's job. How do we lose if someone emigrates to Canada and fills a job in an area that we have a shortage of workers?