Business & Economy
April 1, 2019

Expansion Back On? It’s Bait & Switch “Big Berth” Time at Deltaport

It’s not over until it’s over and Peter Ladner has forwarded this article from Business in Vancouver reporting that GCT Canada Limited (that’s Global Container Terminals) wants the Federal Court to make a decision regarding plans to grow container cargo handling capacity at Deltaport.

As I have previously written “Environment and Climate Change Canada’s statement to the Canadian Environment Assessment Agency clearly outlined the catastrophic impact of a new terminal eradicating this sandpiper feeding area…  finally, Environment Canada has come out with a definitive statement that should stop this project in its tracks.” 

That 2 to 3 billion dollar Terminal 2 would also mean creating a reclaimed paved over industrial island of 108 hectares (266 acres) west of the existing Deltaport, supposedly in water deep enough not to impact the sensitive migratory bird and intertidal habitat.

So the good news was that Global Container Terminal who leases the docks from Deltaport had stated that the Terminal 2 complex proposed at Roberts Bank was “outmoded and no longer viable.” But of course GCT has  now dropped their new manifesto, and you can kind of see where they are going in the following  words:

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Only they call it the ‘pied-à-terre  tax.  

From the New York Times:

A plan to tax the rich on multimillion-dollar second homes in New York City has rapidly moved closer to reality, as legislative leaders in Albany and Gov. Andrew M. Cuomo have all signed off on the idea as a funding stream for the city’s beleaguered subway system. …

Under the Senate’s bill, a pied-à-terre tax would institute a yearly tax on homes worth $5 million or more, and would apply to homes that do not serve as the buyer’s primary residence.

 

Same arguments too:

Kathryn Wylde, president of the Partnership for New York City, said the tax would not be well received within the business community. She suggested that such a tax … could further push the wealthy to reconsider living here. …

But Moses Gates, a vice president at the Regional Plan Association, disputed the notion that New Yorkers would leave the city. The association believes that most wealthy pied-à-terre owners would pay the tax. If they chose to sell, then the property has the chance of being purchased by a full-time city resident, who would then be subject to income and sales tax.

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In the Good News, Bad News department, Delta Optimist’s Sandor Gyarmati reports on the face-saving exercise being undertaken by Deltaport’s current container terminal operator Global Containers (GCT).  I have written about the Port of Vancouver’s  continued push for this terminal despite the fact that it is the resting grounds of hundreds of thousands of western sandpipers migrating to spring Arctic breeding grounds. These birds feed solely on an algae that is only available on the Roberts Bank mudflats. That algae cannot be moved or replaced, meaning that this important bird migration on the Pacific Flyway would be extinct with port expansion.

It was  Larry Pynn in The Province who pointed out that the written response from Environment and Climate Change Canada to the Canadian Environment Assessment Agency clearly outlined the catastrophic impact of a new terminal eradicating this sandpiper feeding area. Last year the Port of Vancouver said they wanted to work on these issues, but as a representative from B.C. Nature said “I’d say the … port has been holed below the water line. We clearly have an environment at Roberts Bank that is fragile, that cannot withstand any more port development, and, finally, Environment Canada has come out with a definitive statement that should stop this project in its tracks.”

But back to the Terminal operator’s and the Port of Vancouver’s spin on ditching the terminal expansion, and no it is not to save the migratory birds.

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Chris and Melissa Bruntlett the fine people of Modacity Life passed on this fascinating article by Tom Parron on the marketing of Coolblue‘s new bike service. Coolblue is an electronics company that has been in business since 1999 in the Netherlands and Belgium. Their creed is to provide excellent response with a good slice of humour interspersed in their customer service. And if you order an item online, you are guaranteed delivery of that item the following day.

With online and 9 traditional retail locations this business delivers bought goods by “CoolblueFietst” which translates as Coolblue bikes.  With service commencing in two Dutch cities last year  Coolblue has expanded to have bicycle delivery of their products in major Dutch and Belgian cities with a fleet of 250 delivery riders. And get this~those delivery bike riders will  “all be employed with contracts and receive fixed salaries.”

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Vancouver is getting a major Skytrain extension, a rapid transit line through the second-largest employment corridor in the Province of BC.  It’s the Broadway corridor.

In preparation, the City of Vancouver is working on a plan for this corridor, and you can get in on the process. Remember, you’ll get your say, but not a veto.  Not, that is, until you elect Ken Sim (or his replacement) and the NPA into control of council, provided, of course, that you live somewhere in the vicinity of the area.

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Imagine you are in a country that is looking to increase investment in a floundering real estate market. Even though real estate prices are now at 40 percent from their peak, Greece has not recovered from the 2009 debt crisis, and is offering  visas to non-European Union citizens when they invest 250,000 Euros in real estate. This is cheaper than Portugal’s offer of a visa which requires twice the investment of at least 500,000 Euros. Those prices translate to 374,000 Canadian dollars in real estate in Greece to obtain a visa, and 748,000 Canadian dollars  to get a visa in Portugal.

There are three direct flights a week from China to Greece, and for those Chinese investors in Athens real estate their buying power enables them to purchase two properties for the price of one in Portugal. Despite curbs on the exporting of currency from China,  Chinese investment has continued in Greece, along with Russian and Turkish real estate investment.

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Carla Guererra, founder and CEO of Purpose Driven Development, Planning and Strategy, and member of the Urban Land Institute (ULI), drops a startling statistic in a new blog post on the ULI website:

In a global survey of 279 companies in 2010, McKinsey found that those companies with the greatest proportion of women in their executive committees earned a return on equity of 47% higher than those without female members.

It’s a simple message — more women equals more money.

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Today, Minister of Tourism, Arts & Culture Lisa Beare announced an RFP for corporate naming rights for BC Place, the 54,500-seat stadium right next to the smaller, 12-years-newer, Rogers Arena.

Boasting the largest retractable roof in the world, BC Place is one of the many legacies of Expo ’86, and is operated by B.C. Pavilion Corporation, the Crown corporation responsible for the BC Pavilion, in that seminal year of, well, showcasing BC.

In addition to operating BC Place Stadium and the Vancouver Convention Centre, PavCo has also administered the ground lease and development of the land west of the stadium (now known as Parq Vancouver, a Paragon Gaming hotel-casino-spa-fitness concept).

But for the past decade, ever since Roofgate — sorry, Deflategate was taken — and the 2014 completion of the roof reno, BC Place has largely flown under the radar as a major, name-brand venue for a generation of youth looking for something to do.

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Maybe this won’t become a thermal coal port

Port Metro Vancouver has cancelled the permit for a project that would have resulted in more thermal coal shipments, these from Fraser Surrey Docks.  The only reason currently available is that the permit’s 83 conditions have not been met — specifically one requiring substantial start of construction by November 30, 2018.

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