The Vancouver Business Thread

[LeftCoaster]

Originally Posted by whatnext

Really, you might want to check some of the photos I've contributed. Can't recall you doing the same.

My "obsession" with Christy Clark is really nothing more than disgust with her as a smarmy shyster, of type one would say "butter wouldn't melt in her mouth". Given the real estate industry backing of the BC Libs, it's not surprising she's picked up their habits. I wouldn't be surprised to see her hawking condos next.

But she's gone and you still wont shut up about her.

It's so tiresome.

And I suppose your photo contributions get lost in your endless posts and tirades about Chinese people, housing costs and "Chrusty" and the "Phibs".

Yawn.

[LeftCoaster]

Originally Posted by csbvan

That is pretty much right on. The majority of the proposals were never going to happen, and only a few ever made economic sense. That being said, the Liberals did make LNG promises the central plank of their election platform back in 2013. That was a pretty major promise that they failed to deliver on and so they, as a party, get to live with the consequences of that failure.

Don't get me wrong, I think the Liberals totally blew it over promising on something they had no control over the delivery of. I'm just so bored and done with Whatsnext and his one track 'contribution' to this community.

[Sheba]

Originally Posted by Henbo

https://techcrunch.com/2017/09/07/amazon...eadquarter-city-a-full-equal-to-seattle/

Anyone think there is potential for Vancouver to become Amazon's 2nd headquarters?

Ontario won't offer subsidies to lure Amazon

The man heading up Ontario's effort to lure Amazon to the province said Thursday that while the province would consider sensible incentives, the bid will not offer billions in subsidies to the tech giant.

Providing large taxpayer subsidies to the firm wouldn't be fair to other companies that have set up shop in Ontario with little or no government assistance, said Ed Clark, who was appointed last week by Premier Kathleen Wynne to head up the Greater Toronto Region's bid to become the home of Amazon's new corporate headquarters.

The region's bid to Amazon founder and CEO Jeff Bezos will highlight other strengths such as the province's skilled workforce, Clark said, adding that the province would be willing to make other contributions like helping the company secure land.

...

The company said it wants to be near a metropolitan area with more than a million people; be able to attract top technical talent; be within 45 minutes of an international airport; have direct access to mass transit; and be able to expand that headquarters to more than 740,000 square metres in the next decade.

...

Amazon's current campus in Seattle takes up more than 750,000 square metres, has 33 buildings and 24 restaurants and is home to more than 40,000 employees. At the second headquarters, Amazon said it will hire up to 50,000 new full-time employees over the next 15 years who would have an average pay of more than $100,000 US a year.

[LeftCoaster]

Hear that sound? That's the sound of Toronto being ripped off the shortlist.

[s211]

Originally Posted by LeftCoaster

Hear that sound? That's the sound of Toronto being ripped off the shortlist.

I'm not sure we can say that with certainty at this juncture.

[Tfreder]

It's not for certain, but rather highly unlikely at this point, when there will be cities in the US throwing up to billions of dollars in subsidies at Amazon.

[Sheba]

The company said it wants to be near a metropolitan area with more than a million people; be able to attract top technical talent; be within 45 minutes of an international airport; have direct access to mass transit; and be able to expand that headquarters to more than 740,000 square metres in the next decade.

Is there enough space near the airport?

[trofirhen]

Seattle being in the NW corner of the USA, would it be a logical deduction that they want a city in the East or SE? Dallas, Houston, Atlanta, Chicago all come to mind.
Does anyone have a more informed guess? This is interesting and telling.

[Hot Rod]

My bet is Chicago.

[whatnext]

More tales from BC Casinos "business" in today's National Post:

On Oct. 15, 2015, a Mountie burst through the front door of an office in Richmond, carrying a battering ram and with a rifle slung on his back. The door swung shut behind him, locking him inside. He was in the lobby of Silver International Investment, a high-end money transfer business, surrounded by bulletproof glass.

Behind a second glass door, a woman rushed to make a call while hiding several cellphones. Under her desk was a safe stuffed with bundles of cash. The Mountie, a large man, counted seconds anxiously, wondering if the woman would unlock the interior door.

It was one of 10 police raids in Richmond that day — part of a major investigation that has uncovered massive money laundering and underground banking networks with links to Mainland China, Macau and B.C. casinos, allege the RCMP’s federal organized crime unit and China’s national police service....

http://nationalpost.com/news/national/ex...wcm/f026ce3b-8f25-414a-bc15-eb0e73520bb2

[officedweller]

Indochino's new offices above Old Navy @ Granville & Robson:

http://urbanyvr.com/indochino-new-vancouver-head-office

[trofirhen]

With all the talk of Vancouver and Amazon2 (which it is very unlikely to get: when the next city is chosen, we can shoot that horse and close that thread),
With all the hopeful talk about becoming a major tech hub - the competition for which is fierce - and already lead by not only the Bay Area, Seattle, and numerous other cities well ahead of us, despite the Microsoft Center...
With the ever-more exorbitant house prices driving good jobs and good salaries away, turning us into an overblown resort, at least according to some people with economic insight .....
is it not the time to continue thinking, once again, about diversifying the economy in other areas that provide good jobs?
Pharmaceuticals and pharmacology; the entire medical research field is an area where Vancouver may well have such potential.

You can criticize me for flogging a dead horse, but the horse isn't dead, and may be restored to horserace condition if the will, the energy, and the know-how are applied.
So, if at all with me on this, please re-read these. This is a sector that could be a true growth factor in the future. Thank you for your time. This may be naïve, but I'm trying.

http://vancouversun.com/opinion/op-ed/op...oscience-centre-of-excellence-for-canada

https://www2.gov.bc.ca/gov/content/gover...-innovation/major-research-organizations

BTW, Canada is lagging in the global markets in pharmaceuticals. Rekindling it here might be timely. Look at the graph, and worry about it....

https://www.ic.gc.ca/eic/site/lsg-pdsv.nsf/eng/hn01768.html

[whatnext]

"Vancouver is becoming an increasingly inhospitable environment for local independent businesses."

...Vancouver is bucking a national trend by shifting more of its tax burden from residents towards businesses, according to a report released Tuesday by Altus Group.

And at the same time, real property tax growth in Metro Vancouver has closely tracked a rise in municipal spending and dramatically outpaced population growth over the last decade, placing an “unfair” and “disproportionate” burden on small businesses, according to a separate report released Wednesday by the Canadian Federation of Independent Businesses (CFIB).

Real property tax growth outpaced population growth in B.C. nearly fourfold, rising a total of 45 per cent between 2005 and 2015, while population grew 12 per cent, according to the CFIB report. During that time, Vancouver increased operating spending per person by 20 per cent, after adjusting for inflation and population growth, the report said.

The report from Altus Group, a Toronto-based real estate research and advisory firm, examined the ratio of commercial tax rates to residential tax rates for 10 major cities across Canada, and found Vancouver was an outlier.

While most Canadian cities shifted more of the property tax burden from business owners towards homeowners in the past year, “Vancouver seems to be going in a different direction,” said Terry Bishop, president of Altus’ property tax group....(bold mine)

http://vancouversun.com/news/local-news/...ks-national-trend-by-shifting-tax-burden

Vision seems to have forgotten its promise in 2008 to correct the business/residential tax imbalance, even as more and more homes have been sold to millionaires who could easily afford a bigger tax bill.

[EastVanMark]

Originally Posted by whatnext

"Vancouver is becoming an increasingly inhospitable environment for local independent businesses."

...Vancouver is bucking a national trend by shifting more of its tax burden from residents towards businesses, according to a report released Tuesday by Altus Group.

And at the same time, real property tax growth in Metro Vancouver has closely tracked a rise in municipal spending and dramatically outpaced population growth over the last decade, placing an “unfair” and “disproportionate” burden on small businesses, according to a separate report released Wednesday by the Canadian Federation of Independent Businesses (CFIB).

Real property tax growth outpaced population growth in B.C. nearly fourfold, rising a total of 45 per cent between 2005 and 2015, while population grew 12 per cent, according to the CFIB report. During that time, Vancouver increased operating spending per person by 20 per cent, after adjusting for inflation and population growth, the report said.

The report from Altus Group, a Toronto-based real estate research and advisory firm, examined the ratio of commercial tax rates to residential tax rates for 10 major cities across Canada, and found Vancouver was an outlier.

While most Canadian cities shifted more of the property tax burden from business owners towards homeowners in the past year, “Vancouver seems to be going in a different direction,” said Terry Bishop, president of Altus’ property tax group....(bold mine)

http://vancouversun.com/news/local-news/...ks-national-trend-by-shifting-tax-burden

Vision seems to have forgotten its promise in 2008 to correct the business/residential tax imbalance, even as more and more homes have been sold to millionaires who could easily afford a bigger tax bill.

"becoming" inhospitable to business? Its been like that for a while now. The business-residential tax ratios are some of the worst in North America. Once again Vancouver is deemed to be an "outlier". Dubious distinction to say the least. This speaks nothing of the strangling endless reams of red tape and rules and regulations that businesses are forced to comply with to even open.

As a result only certain businesses can thrive here but they make the neighborhood extremely generic and boring.

[SpongeG]

Amazon to bring 1,000 new tech jobs to B.C.

Seattle-based company has announced plans to double its B.C.-based workforce to 2,000 by early 2020
CBC News Posted: Nov 03, 2017 9:59 AM PT Last Updated: Nov 03, 2017 9:59 AM PT


Seattle-based technology giant Amazon has announced plans to bring 1,000 new jobs to B.C. by 2020.

This will double the current number of Amazon employees in B.C.

Alexandre Gagnon, Amazon's vice-president for Canada and Mexico, said the company will lease a new 4,500 square-metre building at 402 Dunsmuir Street — its second corporate office in Vancouver.

In a release, Premier John Horgan said he welcomed the move.

"We will build on Amazon's plans to bring 1,000 new jobs to B.C. by continuing to open up access to education and skills training," he said.

...

http://www.cbc.ca/news/canada/british-columbia/amazon-to-bring-1-000-new-tech-jobs-to-b-c-1.4386173

[LeftCoaster]

Originally Posted by SpongeG

Amazon to bring 1,000 new tech jobs to B.C.

Seattle-based company has announced plans to double its B.C.-based workforce to 2,000 by early 2020
CBC News Posted: Nov 03, 2017 9:59 AM PT Last Updated: Nov 03, 2017 9:59 AM PT


Seattle-based technology giant Amazon has announced plans to bring 1,000 new jobs to B.C. by 2020.

This will double the current number of Amazon employees in B.C.

Alexandre Gagnon, Amazon's vice-president for Canada and Mexico, said the company will lease a new 4,500 square-metre building at 402 Dunsmuir Street — its second corporate office in Vancouver.

In a release, Premier John Horgan said he welcomed the move.

"We will build on Amazon's plans to bring 1,000 new jobs to B.C. by continuing to open up access to education and skills training," he said.

...

http://www.cbc.ca/news/canada/british-columbia/amazon-to-bring-1-000-new-tech-jobs-to-b-c-1.4386173

1,000 jobs in 4,500 sq metres? What are they working in a closet? Who writes this stuff?

Then lease will be around 15,000 sq m, not 4,500.

[whatnext]

Wow, just when you think the money laundering scam run by Mainland Chinese figures through River Rock couldn't get any weirder, now the main suspect is being linked to massive ICBC fraud. Being Minister for both, David Eby is going to have his hands full:

B.C. Attorney General David Eby has ordered ICBC to investigate a number of car accident and injury claim cases after reviewing an investigative report provided by Postmedia News.

Postmedia’s review of civil forfeiture cases involving a Vancouver used auto dealer, and numerous individual car accident and ICBC claims cases, points to a network of individuals with connections to Paul King Jin, the suspect at the centre of RCMP’s investigation into money laundering in B.C. casinos...

http://vancouversun.com/news/local-news/...-linked-to-casino-money-laundering-probe

[rofina]

Originally Posted by whatnext

Wow, just when you think the money laundering scam run by Mainland Chinese figures through Rover Rock couldn't get any weirder, now the main suspect is being linked to massive ICBC fraud. Being Minister for both, David Eby is going to have his hands full:

B.C. Attorney General David Eby has ordered ICBC to investigate a number of car accident and injury claim cases after reviewing an investigative report provided by Postmedia News.

Postmedia’s review of civil forfeiture cases involving a Vancouver used auto dealer, and numerous individual car accident and ICBC claims cases, points to a network of individuals with connections to Paul King Jin, the suspect at the centre of RCMP’s investigation into money laundering in B.C. casinos...

http://vancouversun.com/news/local-news/...-linked-to-casino-money-laundering-probe

The level of entrenched corruption, scamming, and money laundering here is absolutely mind blowing.

Most people don't fully appreciate the damage done to this province over the past decade.

[SpongeG]

a look inside the amazon office

• Video Link

[zahav]

Sorry for the late post, but the November jobs report came out last week. Continuing postive reports. Year over year, BC had the fastest labour force growth (+2.4%), largest gain in employment (+3.8%), largest decrease in unemployment (-19.6%), and lowest unemployment rate amongest the provinces (4.8%). Canada as a whole has shown great numbers, especially the last 6 months, but BC has definitely stood out. Will be interessting to see what 2017 year end GDP #s are, they are predicting Alberta to the largest % growth (coming off two years of recession), with BC 2nd. But BC could still come out on top. Alberta's employment #s, retail sales, building permits & starts, homes sales, etc have been lower than BCs all year, so if they still do come out on top for GDP growth, it will really show how important oil prices are to their figures. Oil prices have risen this year compared to last, so likely that is why economists are expecting high GDP numbers, because the reality on the ground with all the other economic measures mentioned above are still lukewarm