Business in Winnipeg

[newflyer]

Biotech firms make list of best picks for investors
Sat Jan 19 2008

By Martin Cash

TWO Winnipeg biotech companies are among the five microcaps selected as the best picks for attractive returns in 2008 by a Bay Street research firm.

DiaMedica Inc. and Kane Biotech Inc. -- two companies that share the same address at Albert Friesen's biotech incubator Genesys Ventures -- were selected because of a number of features including good technology and management teams. But according to Maria Luckevich of Research Capital, author of the report, they also have a shorter development timeline, creating a lower-risk profile than is typical for the sector as well as high upside potential.

Neither company will require the full gamut of regulatory approval that would be the case for newly developed therapeutics that are internally absorbed.

The other selections in the report, called Biotech Microcap Best Bets, were Amorfix Life Sciences Ltd. of Mississauga, Fralex Therapeutics Inc. of Toronto and Stem Cell Therapeutics Corp. of Calgary.

Luckevich said she produced the research at least partly as a way to address the current poor investment climate in North America for biotech companies.

'Market potential'

"The whole rationale for the report is because there is little to no appetite for traditional therapeutics that have high risk and long development timeline," Luckevich said. "These companies (on the list) have less onerous regulatory requirements but a large market potential."

Kane Biotech is hoping to start generating revenue later this year in an arrangement with Minnesota's Harland Medical Systems, which is to start selling catheters coated with Kane's biofilm prevention formulation later this year.

DiaMedica is developing a novel treatment of nerve stimulus for Type-2 diabetes that is using a combination of drugs whose safety has already been tested and approved and therefore present a much quicker turnaround.

Luckevich said a good example of the poor state of the biotech market was the experience of Cardiome Pharma Corp., a Vancouver company that received a positive recommendation in mid-December for its heart drug from an FDA committee that usually precedes full approval. The company's shares were up 10 cents the following day to $9.30, but have since fallen to $7.87.

DiaMedica shares closed unchanged at $1.15 and Kane Biotech was up a penny to 28 cents in trading on Friday.

martin.cash@freepress.mb.ca

[newflyer]

Winnipeg clothing firm to expand into U.S. market
Sat Jan 19 2008

By Martin Cash

WINNIPEG'S Richlu Manufacturing is teaming up with the venerable Minnesota company Red Wing Shoes to produce a line of branded outerwear that could be Richlu's ticket into the U.S. market.

Richlu will unveil its new line of close to 40 different styles of leather outerwear, rugged casual jackets, vests, shirts and pants bearing the Red Wing and Irish Setter brands at trade shows next month in Las Vegas.

Gavin Rich said Richlu's association with the Red Wing and Irish Setter brands will hopefully give the longtime Winnipeg outerwear manufacturer a solid entry into the U.S. market.

"We make fabulous garments at a fabulous price, but we have no brand recognition in the U.S." Rich said. "Red Wing is a very well-known and established brand in the U.S."

Richlu is famous in Canada for its Tough Duck and Work King lines of casual outerwear and workwear. It made a splash a couple of years ago with a re-merchandising of a line of parkas that sold into the high-end fashion market of Europe.

Red Wing has been making work shoes and casual shoes under the Red Wing and Irish Setter brands for 105 years. In addition to the proximity to each other -- Red Wing, Minn., is about 80 kilometres from Minneapolis -- Richlu and Red Wing Shoes are both multi-generational, family-owned businesses (Richlu has been around since 1939) that both continue to do their own manufacturing respectively in Canada and the U.S.

Red Wing Shoes is a much larger operation with about 150 corporately-owned stores, three manufacturing operations (including one of the last remaining leather tanneries in the U.S.) and about 2,100 people.

Winnipeg's Richlu is the largest workwear manufacturer in Canada and makes about a million garments a year, a good amount of them from its Exchange District plant where it employs about 200 people and the rest in plants in Asia.

Peter Engel, Red Wing's director of marketing, said it has been seeking licensing agreements for a few years, but has been selective.

"Red Wing and Irish Setter have very loyal followings and we have had companies approach us seeking licensing agreements," Engel said. "Leather is one of our brand attributes and Richlu knows how to make outerwear. It is the beauty of putting the puzzle together."

Richlu has done all the designs in Winnipeg "employing the Red Wing DNA." Engel said Richlu will use the same sales reps that now sell the Irish Setter shoe line and will sell Richlu's new outerwear lines to the same retailers that now sell the Irish Setter shoes.

"This is a major initiative for us," Rich said.

The company has been active in the Midwestern U.S. market for some time with private label work. But the recent rise in the Canadian dollar has driven some of those customers to off-shore customers. He said establishing a relationship with Red Wing is a perfect fit for Richlu's traditional customer base in the hunting, outdoor and workwear sectors.


martin.cash@freepress.mb.ca

[Only The Lonely..]

Economy expected to remain robust
Updated at 10:21 AM | Winnipeg Free Press

Winnipeg's economy will remain robust this year, the Conference Board of Canada said this morning in its latest outlook for Canadian cities.

Winnipeg, which posted its fastest rate of growth in 10 years in 2007, will see growth ease only slightly to 3.4 per cent this year from 3.9 per cent last year, the think-tank said in its Metropolitan Outlook.

The strong economy has led to solid job creation, which in turn, has helped the city attract more immigrants.

This is good news for Winnipeg's economic potential, the conference board said.

The board said Canada's east-west economic split will only narrow slightly this year, as the nation's five fastest-growing cities will continue to be west of Ontario.

"Calgary and Edmonton will remain in a league of their own in 2008," the report said.

"Winnipeg, Vancouver, and Abbotsford are also expected to emerge as strong performers this year, with all three ... posting economic growth of more than three per cent," said Mario Lefebvre, director, Centre for Municipal Studies.

"In 2007, only two of the top 10 positions in the overall economic growth rankings were held by (census metropolitan areas) located east of Manitoba; this year four eastern Canadian CMAs are expected to make the cut," he said.

With real gross domestic product (GDP) growth forecast to reach 4.2 per cent this year, Calgary is expected to match its growth performance in 2007 when it was the third-fastest growing CMA in the country behind St. John's and Saskatoon.

Strong energy demand, furious construction activity and robust consumer spending growth will continue to drive Calgary's outlook, the report said.

Edmonton's economy will be fuelled by stronger energy output and solid domestic demand. As a result, real GDP is forecast to grow by four per cent this year.

The Metropolitan Outlook, published quarterly, provides economic forecasts for 27 Canadian CMAs, their province, and Canada.

[Greco Roman]

Originally Posted by Only The Lonely..

Economy expected to remain robust
Updated at 10:21 AM | Winnipeg Free Press

Winnipeg's economy will remain robust this year, the Conference Board of Canada said this morning in its latest outlook for Canadian cities.

Winnipeg, which posted its fastest rate of growth in 10 years in 2007, will see growth ease only slightly to 3.4 per cent this year from 3.9 per cent last year, the think-tank said in its Metropolitan Outlook.

The strong economy has led to solid job creation, which in turn, has helped the city attract more immigrants.

This is good news for Winnipeg's economic potential, the conference board said.

The board said Canada's east-west economic split will only narrow slightly this year, as the nation's five fastest-growing cities will continue to be west of Ontario.
"Calgary and Edmonton will remain in a league of their own in 2008," the report said.

"Winnipeg, Vancouver, and Abbotsford are also expected to emerge as strong performers this year, with all three ... posting economic growth of more than three per cent," said Mario Lefebvre, director, Centre for Municipal Studies.

"In 2007, only two of the top 10 positions in the overall economic growth rankings were held by (census metropolitan areas) located east of Manitoba; this year four eastern Canadian CMAs are expected to make the cut," he said.

With real gross domestic product (GDP) growth forecast to reach 4.2 per cent this year, Calgary is expected to match its growth performance in 2007 when it was the third-fastest growing CMA in the country behind St. John's and Saskatoon.

Strong energy demand, furious construction activity and robust consumer spending growth will continue to drive Calgary's outlook, the report said.

Edmonton's economy will be fuelled by stronger energy output and solid domestic demand. As a result, real GDP is forecast to grow by four per cent this year.

The Metropolitan Outlook, published quarterly, provides economic forecasts for 27 Canadian CMAs, their province, and Canada.

I thought that Saskatoon and Regina were going to out-perform Winnipeg in economic growth? At least that was the word on the street.............

[trueviking]

Manitoba Numbers Look Good
JAN 21 2008 03:10 PM
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The Conference Board of Canada is painting a rosy picture of Winnipeg's economy.
The Board's latest look at 27 Canadian cities says Winnipeg's overall economic growth went up 3.9 percent in 2007, the fastest increase in ten years. It also predicts the local economy will expand further in 2008 by 3.4 percent.

The think tank says employment went up more on average in 2007 than in the past decade while unemployment rates were the lowest on record and are expected to drop even further this year.

The report also calls the job market magnetic helping to post the biggest in-migration numbers on record. The board credits much of Winnipeg's economic performance to strong construction, manufacturing and service sectors.

CJOB's Colleen Bready reporting.

[ILYR]

January 21, 2008

DESTINATION WINNIPEG RELEASES 2007 3RD QUARTER HIGHLIGHTS

WINNIPEG, January 21, 2008 – Destination Winnipeg Inc. released its Quarterly Economic Highlights for the third quarter of 2007. As part of our mandate to provide information on Winnipeg’s economy and community, Destination Winnipeg’s Quarterly Economic Highlights provides recently released, straight-forward statistical information from a Winnipeg perspective.

Quarterly Economic Highlights provides concise analysis of a number of economic indicators, trends, comparative city data, labour and real estate numbers. This issue covers data from the first three quarters of 2007 and highlights Winnipeg’s sports and special events business. Winnipeg has established an excellent track record as a major centre for national and international sport championships and special events.

Winnipeg’s economic performance for 2007 was very strong ranking 4th among major Canadian cities. The projections for Winnipeg’s real GDP growth from the Conference Board of Canada’s Metropolitan Outlook (Winter 2008 released today) for 2008 are significantly above the national average, with Winnipeg placing 3rd among major Canadian cities. Employment growth in the third quarter was almost 7,000 jobs, up 1.8% and the unemployment rate was 4.7%. Growth in retail sales, housing starts, real estate sales and prices continued to be buoyant in 2007. Growth in Manitoba’s exports and manufacturing shipments were also significantly better than most of the country.
If you haven’t yet registered for e-info and would like to read more of Destination Winnipeg’s Quarterly Economic Highlights, click here or visit the main page of the site at www.destinationwinnipeg.ca to register

[newflyer]

Winnipeg is really doing well... momentum is growing and the future is looking brighter than it has in a very long time.

Great to see!!!

[wags_in_the_peg]

Manitoba can be energy superpower: Rondeau
Tue Jan 22 10:27:00 CST 2008


Manitoba is a "have" province with a fast-growing bio-tech industry, expanded access to high-speed internet across the province and a true success story in Manitoba Hydro, an animated Jim Rondeau, MLA for Assiniboia, told a breakfast crowd this morning.

"It's nice to know we can turn on a light and it works," said Rondeau, minister of science, technology and energy and mines. He spoke at a Manitoba Chamber of Commerce event at the Norwood Hotel.

"We can become an energy superpower."

On the technology front, Rondeau said all Manitobans should have access to the internet at home.

"We should create the opportunity for people to do business worldwide from the comfort of their own home," he said.

He said the province's mining sector is anticipating a very solid 2008.

Rondeau said green-minded Manitobans would be very receptive to electric vehicle as a way to conserve fuel, noting "Manitobans are used to plugging in their cars."

[wags_in_the_peg]

typical NDP minister, all talk no action

[Andy6]

Originally Posted by wags_in_the_peg

Manitoba is a "have" province with a fast-growing bio-tech industry, expanded access to high-speed internet across the province and a true success story in Manitoba Hydro, an animated Jim Rondeau, MLA for Assiniboia, told a breakfast crowd this morning.

"It's nice to know we can turn on a light and it works," said Rondeau, minister of science, technology and energy and mines.
"

Wow. We should never ever privatize Manitoba Hydro, given that under public ownership it has proven capable of such extraordinary accomplishments.

[vid]

You should do what Ontario did: Turn it into five inefficient companies, each one headed by a corrupt idiot that has no idea what the fuck he is doing, drawing the largest wage of the entire public sector! (I think it's 1.2 million with a 5 million retirement package? For all five of them, of course.)

It was part of Mike Harris' "Lack of Common Sense Revolution". Why have one public sector company do what five can for more money and less efficiency?!

[Only The Lonely..]

It's too bad that the privatization of Hydro is such a red herring.

With our comparative advantage at producing energy Hydro could easily grow to become an energy Colossus.

Just think about it, we'd have another major private HQ that pays taxes instead of receiving them. Plus they would have the ability to expand and acquire other municipal utilities across Canada and the U.S.

The cheap energy prices that socialists often tote are only a recipe for attracting inefficient dinosaur industries that can't make it else where.

Because electricity is so cheap, I wouldn't be surprised if Manitobans wasted more energy than your average Canadian.

[newflyer]

Originally Posted by Only The Lonely..

It's too bad that the privatization of Hydro is such a red herring.

With our comparative advantage at producing energy Hydro could easily grow to become an energy Colossus.

Just think about it, we'd have another major private HQ that pays taxes instead of receiving them. Plus they would have the ability to expand and acquire other municipal utilities across Canada and the U.S.

The cheap energy prices that socialists often tote are only a recipe for attracting inefficient dinosaur industries that can't make it else where.

Because electricity is so cheap, I wouldn't be surprised if Manitobans wasted more energy than your average Canadian.

I agree that Hydro is not even close to being efficient.. which is more of a commentary on how profitable it could be if it were run properly.

As it is .. it does contribute revenue to the government, but far less than it is capable of. Having close connections to Hydro I am very aware of its lack of efficiency in most of it departments.

With that said I believe the basic utility should remain in government hands, but its management overview committee should be loaded with private sector directors.. not political appointed buracrats who know nothing about running a massive corporation. Manitoba Hydro should also be forced to publish its finacial statements and reports on a quarterly basis, as publicly traded corporation are forced to. I mean if Manitobans are the owners, they should have access to its information on a timely basis. This new Manitoba Hydro .. should mantain generation rights on enough power generation to supply Manitoba under regular conditions.

All excess power generation should be privitized to private interests .. with the condition the corporate entity is based in Manitoba and it is tied to a contract which makes them supply Manitoba Hydro any additional needed power during peak periods at discounted rates.

This could be used as a means to attract private investment towards a P3 agreement in constructing new hydro dams.. as well as incouraging more private investment in wind power and solar power generation. This would relieve Manitoba Hydro of the massive cost of building major projects alone, while giving the Manitoba Government a huge injection of cash through the privaization of excess power generation... which could be used to pay down large parts of our debt and decrease our taxes. Lastly it would indicate to the capial markets Manitoba was serious about being major player in the power game. Of course Winnipeg would be home to a number of new energy businesses.. requiring more office space in downtown.

[newflyer]

Conference board bullish on Winnipeg in 2008
To be 3rd in economic growth after Calgary, Edmonton
Tue Jan 22 2008

By Larry Kusch


MIKE DEAL / WINNIPEG FREE PRESS
City posted economic growth of 3.9 per cent in 2007, its best since '97.


WINNIPEG will sport the third-strongest economy among Canadian cities this year because of a continuing construction boom and a thriving manufacturing sector, the Conference Board of Canada said Monday.

The think-tank projects that Winnipeg's census metropolitan area (CMA), which includes bordering municipalities, will enjoy real economic growth of 3.4 per cent in 2008, trailing only those of Calgary (4.2 per cent) and Edmonton (4 per cent).

The board said in its Metropolitan Outlook the city posted economic growth of 3.9 per cent last year, its best showing since 1997 and fourth best in Canada.

John McCallum, a University of Manitoba economist, said he feels the conference board's growth projections are generally a little too robust, although he doesn't dispute Winnipeg's No. 3 ranking.

"I'm not surprised at all that they have Calgary and Edmonton and Winnipeg high relative to other cities in Canada," McCallum said.

"I'm surprised that they have Winnipeg up at such a high number because for some time now, I've been thinking that Canada is going to get growth around two or two and a quarter per cent this year," he said.

"I just don't see Winnipeg outpacing Canada to that extent."

The conference board projects real Canadian GDP growth in 2008 at 2.8 per cent and pegs Manitoba's growth at 3.5 per cent, second to Alberta among Canadian provinces.

Winnipeg's lofty ranking was no surprise to the city's economic tourism and promotion agency or to the Chamber of Commerce.

Stuart Duncan, president of Destination Winnipeg, said the Manitoba capital is "riding one of the better economic cycles this city has seen for a long, long time."

"We have been pointing out the real economic comeback and turnaround for Winnipeg over the past four years," Duncan said in a statement. "2007 was very strong -- probably peak of this cycle -- but 2008 should be another good year overall," he said.

Dave Angus, president of the Winnipeg Chamber of Commerce, noted that the city's manufacturing sector has been able to adjust to the negative impact of a rising Canadian dollar better than other jurisdictions.

"We have the diversity that you need to weather some of the (economic) storms in the U.S.," Angus said, referring to the Manitoba economy as a whole.

Wilf Falk, Manitoba's chief statistician, said the conference board projections are on the high side of what has been predicted for Manitoba -- and by implication for Winnipeg -- so far this year.

Provincial GDP growth projections for Manitoba in 2008 range from 2.2 per cent (TD bank) to the conference board's 3.5 per cent. Several Canadian banks have pegged Manitoba's 2008 growth at three per cent.

Taking the average of all of the predictions so far, Manitoba's economy would grow 2.8 per cent this year compared with a Canadian growth rate of 2.4 per cent, Falk said.

"All things being equal, '08 should be a reasonably good year for us relative to other jurisdictions," he said.


larry.kusch@freepress.mb.ca



Top nine cities


Projected 2008 GDP growth among cities:


1. Calgary 4.2 per cent

2. Edmonton 4.0

3. Winnipeg 3.4

4. Vancouver 3.3

4. Abbotsford 3.3

6. Quebec City 2.8

6. Toronto 2.8

6. Halifax 2.8

9. Saskatoon and three others 2.7

Source: Conference Board of Canada
'Pegged for success


Highlights of Conference Board of Canada report on Canada's census metropolitan areas*:
* Winnipeg will post the third highest growth in gross domestic product (GDP) among Canadian cities this year, after a fourth place finish last year.

* The city's economy will grow 3.4 per cent in 2008 after expanding by 3.9 per cent in 2007 -- the fastest since 1997.

* Heavy infrastructure spending, "sturdy" housing starts together with a strong manufacturing sector and solid performance from farms in the census metropolitan area contributed to last year's heady result.

* Winnipeg's manufacturing output expanded four per cent in 2007 and should rise similarly in 2008.

* Winnipeg's per capita income in 2006 was $33,100, slightly lower than the national average of $33,600.

* Employment grew two per cent last year in Winnipeg compared with an average of 1.5 per cent over the preceding decade.

* Winnipeg's unemployment rate will fall to 4.3 per cent, the lowest on record, in 2008 after averaging 4.6 per cent the last two years.

* Employment in the Winnipeg construction sector is expected to rise 10 per cent to 21,700 this year, compared with 2007.

* Manitoba's GDP will grow by 3.5 per cent in 2008, after a robust 3.7 per cent expansion last year.

* Canada's GDP growth is forecast at 2.8 per cent this year, compared with 2.6 per cent last year.


* Census metropolitan areas include the municipalities surrounding each city.

[newflyer]

Look Ma ... no oil.

[wags_in_the_peg]

Aerospace contracts worth about $150 million will be announced today at Winnipeg's Standard Aero plant, the Winnipeg Sun has learned.

Federal Industry Minister Jim Prentice and Vic Toews, Manitoba's senior MP and president of the Treasury Board, will make the announcement with Standard Aero and Boeing officials at a morning press conference. Neither could be reached for comment last night, but a source confirmed the contract is worth about $150 million.

The deal is expected to cover work done in Western Canada, with Standard Aero receiving the lion's share of the work. The contracts are related to the federal government's purchase of four C-17 cargo planes from Boeing for $1.5 billion, including service support for the planes.

Federal rules stipulate an equivalent amount must be spent by advanced technology contractors within Canada.

Yesterday in Halifax, Boeing and Lockheed Martin announced they will offer subcontracts worth $294 million to Atlantic companies as part of the deal.

Today's announcement will come nearly a year to the day after the Doer government blasted the feds amid rumours Public Works Minister Michael Fortier was reportedly blocking a contract to build the cargo planes unless Quebec received a bigger share of the contracts. Those rumours were strongly denied by both Fortier and Toews at the time.

[big W]

Originally Posted by wags_in_the_peg

Manitoba can be energy superpower: Rondeau
Tue Jan 22 10:27:00 CST 2008


Manitoba is a "have" province with a fast-growing bio-tech industry, expanded access to high-speed internet across the province and a true success story in Manitoba Hydro, an animated Jim Rondeau, MLA for Assiniboia, told a breakfast crowd this morning.

"It's nice to know we can turn on a light and it works," said Rondeau, minister of science, technology and energy and mines. He spoke at a Manitoba Chamber of Commerce event at the Norwood Hotel.

What kind of crack is this guy on. I am sorry but Manitoba is a "Have Not" province right now. Yes things are looking great but it not a 'Have" province right now but there is potential to be so. Then his comment about "It's nice to know we can turn on a light and it works," is pure bullshit . I never expected this comment from a Minister. What does he think Manitoba is a poor third world country . Hell try turning power and seeing if the light works in most third world countries and the answer is yes. I am glad to hear Manitoba is doing well right now. I feel that this is in spite of the government rather than what the government has set. The people are doing something not your government.

[JayM]

that being said, about winnipeg and its growing economy, its pretty much the whole province, an example would be thompson, a place where i used to live for 14yrs, and nothing was really happening. now they have business' like the brick and staples, i wouldve never thought of that ever being there at the rate it was going at that time i was living there. sure they have mcdonalds in the walmart and then across the street another one, lol. crvd inco has invested hundreds of millions into their facility there, thank the chinesse for driving up nickel prices. and hydro building the dam just aways wuskwatim, thats bringing in the jobs there, and although i tried searching for it, there was a report that the population has reached 18,000 i think it was globaltv.

[Greco Roman]

Originally Posted by big W

What kind of crack is this guy on. I am sorry but Manitoba is a "Have Not" province right now. Yes things are looking great but it not a 'Have" province right now but there is potential to be so. Then his comment about "It's nice to know we can turn on a light and it works," is pure bullshit . I never expected this comment from a Minister. What does he think Manitoba is a poor third world country . Hell try turning power and seeing if the light works in most third world countries and the answer is yes. I am glad to hear Manitoba is doing well right now. I feel that this is in spite of the government rather than what the government has set. The people are doing something not your government.

Are you formerly from Manitoba?

[Only The Lonely..]

A socialist enterprise at work..

Interesting.

Lucky Businesses In Line For Rate Hike
JAN 28 2008 01:50 PM

A handful of companies in Manitoba could be looking at a huge spike in their hydro bill.
Manitoba Hydro has applied for a more than 150 percent increase for some industrial companies it claims are coming here for the cheap hydro but not really providing an economic benefit, like job creation, for the province.

Glen Schneider of Manitoba Hydro says only a few companies would be affected...

The increase still has to be approved by the Public Utilities Board.

CJOB's Jeff Braun reporting.