Economy Thread - Page 55

jammer139 · #**1081** Posted **Apr 2, 2025, 6:27 PM**

Speculation on whether Hyundai might partner with GM at the CAMI plant to built vehicle depends on tariffs and future trade deal. Currently the South Korean automaker has no assembly plant in Canada for its Hyundai, Kia or Genesis models.

https://lfpress.com/news/local-news/trum...le-for-london-area-plant-for-now-analyst

jammer139 · #**1082** Posted **Apr 11, 2025, 8:23 PM**

Cami to shutdown until Oct.

https://lfpress.com/news/local-news/cami-auto-plant-shutting-down-for-months-cutting-450-jobs-awful

MolsonExport · #**1083** Posted **Apr 11, 2025, 9:10 PM**

Blood boils...

Djeffery · #**1084** Posted **May 13, 2025, 1:03 AM**

Aspire Foods, the big cricket processing plant in the Bradley/VMP industrial park, has gone into receivership.

jammer139 · #**1085** Posted **May 13, 2025, 1:54 AM**

Guess the cricket protein market for pet foods and health supplements wasn't as lucrative as they thought.

K85 · #**1086** Posted **May 13, 2025, 2:01 AM**

I'm surprised tbh? It wasn't a bad idea, but it wasn't probably done right, or too much at once. I do think there's potential for something like this in the public, but yea, maybe too much too fast.

Quote:

Originally Posted by Djeffery

Aspire Foods, the big cricket processing plant in the Bradley/VMP industrial park, has gone into receivership.

jammer139 · #**1087** Posted **May 13, 2025, 9:14 PM**

LFP article on Aspire. They received $8.5M from the Feds to get this setup back in 2022.

https://lfpress.com/business/local-busin...et-producer-takes-step-toward-bankruptcy

jammer139 · #**1088** Posted **May 26, 2025, 1:12 PM**

Update on the status of Aspire Food receivership and property taxes.

https://lfpress.com/news/local-news/fact...ave-city-hall-seeking-1m-in-unpaid-taxes

jammer139 · #**1089** Posted **May 26, 2025, 4:23 PM**

IronStone offering loans to try to move unsold inventory of homes. New construction starts is way down compared to the boom a couple of years ago.

https://lfpress.com/news/local-news/lond...ortgage-break-to-homebuyers-as-sales-lag

haljackey · #**1090** Posted **May 27, 2025, 1:40 PM**

Quote:

Originally Posted by jammer139

IronStone offering loans to try to move unsold inventory of homes. New construction starts is way down compared to the boom a couple of years ago.

https://lfpress.com/news/local-news/lond...ortgage-break-to-homebuyers-as-sales-lag

While good, I wonder what the fine print is going to be with something like that.

I hate that the market is slowing down. Prices are going down a bit but not nearly enough. We need more supply to decrease prices. Those who can buy have bought, and those who want to buy are simply priced out. This buy-now-pay-later may help a select few, but when the loan comes due now you have your original mortgage plus this. Might be too much.

jammer139 · #**1091** Posted **Jun 3, 2025, 9:04 PM**

If I'm not mistaken the former Beer Store at Adelaide and Lorne Ave is getting redone as a Pet Valu store.

jammer139 · #**1092** Posted **Jun 3, 2025, 11:56 PM**

General Dynamics Land Systems news of note.

https://lfpress.com/business/local-business/general-dynamics-lays-off-dozens-of-salaried-staff

jammer139 · #**1093** Posted **Jul 3, 2025, 8:02 PM**

London's office vacancy rate has hit bottom apparently and plateaued. Most likely due to the removal of a number of former office buildings that are being converted to residential.

https://lfpress.com/news/local-news/downtown-london-office-vacancies-plateau-in-sign-of-stability

jammer139 · #**1094** Posted **Jul 27, 2025, 9:13 PM**

Libro Credit Union looking to merge with Kawartha Credit Union in $11B deal.

https://lfpress.com/business/local-business/london-based-libro-credit-union-eyes-11b-mega-merger

ssiguy · #**1095** Posted **Jul 27, 2025, 9:46 PM**

Quote:

Originally Posted by jammer139

London's office vacancy rate has hit bottom apparently and plateaued. Most likely due to the removal of a number of former office buildings that are being converted to residential.

https://lfpress.com/news/local-news/downtown-london-office-vacancies-plateau-in-sign-of-stability

This stat was also before the announced conversion of Dufferin Court to 41 residential units with 90 bedrooms. That will take at least another 20,000 sq feet off the market. Of course this has a multiplying effect as more people moving downtown means more business which cause even lower vacancy rates. Even though this is proposed by proclaim-everything-do-nothing Farhi, he will go ahead with this as there is city money on the line and if there is one person in London who knows how to bleed London coffers, it's him.

Each of these conversions are not a lot by themselves but accumulated these can make a huge difference in vacancy rates. Calgary is the poster child of these conversions and it has been wildly successful.

jammer139 · #**1096** Posted **Jul 29, 2025, 12:11 AM**

Sifton is selling off their 6 retirement home properties to Chartwell for $400M+. They recently applied for zoning for another home is the SW end of London I believe. Wonder if that will be changed?

https://www.ctvnews.ca/london/article/si...well-in-deal-worth-hundreds-of-millions/

jammer139 · #**1097** Posted **Jul 30, 2025, 12:48 PM**

Food desert concerns grow with closure of International Marketplace on Hamilton Rd near Adelaide. With residential growth in SOHO and the core you'd think a grocery store would start seriously looking at locating in the area? Where are the Southside's, York's and Westdell's of the commercial/retail sector?

https://www.ctvnews.ca/london/article/in...ce-closures-sparks-food-desert-concerns/

MolsonExport · #**1098** Posted **Jul 30, 2025, 1:10 PM**

Dundas Street downtown is terrible. My daughter has been volunteering at the library and I have been driving her to/from the library several days/week. Along certain stretches, at least 60% of the people (many of whom are sleeping on the street) are strung out on drugs or just extremely unkempt. How can this former hub of the city ever hope to recover under these circumstances?

It is not that I am unsympathetic to the homeless and addicted. Many probably had terrible childhoods which have left scars that can never be healed.

But they are not getting the help they need now, and by colonizing downtown, they are the biggest reason, in my opinion, why downtown London continues to look incredibly shabby despite years of record population growth.

ssiguy · #**1099** Posted **Jul 30, 2025, 6:20 PM**

^^ Very true. They did a great job and improving Dundas Street and making it a flex street but it's just lipstick on a pig if people don't feel safe or comfortable. Until the City acknowledges this and begins wholescale clearing of the street people, it will still be viewed negatively.

haljackey · #**1100** Posted **Jul 30, 2025, 7:03 PM**

I think the pandemic hit London at a particularly bad time.

It was just when the Flex street was finished and we were finally starting to see the benefit of that project and related initiatives to revitalize the downtown street scene. People were slowly starting to come back and lots of events and whatnot were planned to really put the flex street to use.

I'm not saying other cities got off Scott-free from the pandemic, but London was just at the beginning of a transition state to change people's minds about downtown. Any progress toward that goal was killed and made much worse through and post-Covid. Just bad timing and now we have one hell of a mess to clean up before any new attempt can be made. I feel for the businesses there but sadly it's not unexpected.