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Safety remains top priority By Michael Bourque The rail supply chain in Canada is core to our economy and standard of living. Rail service allows small, medium and large businesses to compete globally. Railways in Canada provide efficient service while operating in a safe, environmentally sustainable manner. The Lac-Mégantic accident was a tragedy that affected everyone across the Canadian railway industry. As we wait for investigators to piece together the unusual sequence of events that led to this tragedy, the railway industry is working to ensure that it is never repeated. People from across the country have asked about dangerous goods travelling through their communities. It’s important to know that railways
in Canada routinely share this information with municipal officials and responders to help develop emergency response plans. Railways are subject to extensive and rigorous safety regulation including the Transportation of Dangerous Goods Act. Regulations apply to all railway companies in Canada transporting dangerous goods. Those under provincial jurisdiction might be subject to additional rules and safeguards. Urban rail expansion, and the practice of developing land in close proximity to rail operations, has generated a variety of opportunities and challenges for municipalities, developers and railways. New land use guidelines promote best practices and awareness about
issues associated with development near railway operations such as noise, vibration, emissions, safety and design. Rail is a safe and more environmentally responsible option for transporting dangerous goods critical to Canadians. Railways move 70 million people and 71 per cent of all surface goods but generate only three per cent of greenhouse gases for the transportation sector. In time, we will learn more about the causes of the tragedy at Lac-Mégantic. In the meantime, railways are working hard to provide safe and reliable transportation for people, goods and the economy. Michael Bourque is president/CEO of the Railway Association of Canada.
COMOX VALLEY RECORD • Tuesday, August 20, 2013
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Island construction increases The construction industry experienced an upturn in activity on Vancouver Island in the April to June 2013 period thanks to surge in institutional and government building and a seasonal increase in residential construction. The Vancouver Island Construction Association (VICA) reports that the total dollar value of building permits issued for the Island rose 40 per cent, total non-residential building construction investment in Metropolitan Victoria increased four per cent and construction employment climbed 9.3 per cent on the Island in the second quarter over the first quarter. “This trend continues to be consistent with the increase in project opportunities
in the association’s BidCentral and plan rooms,” says Greg Baynton, CEO of VICA. “Market conditions are still challenging and growth is sporadic as our economy slowly gets back on track.” Highlights of the second quarter 2013 for Vancouver Island include a: · 52 per cent surge in non-residential permits which includes a 524 per cent jump in institutional-government permits; · 31 per cent increase in residential permits; and · 9.3 per cent increase in construction employment. All seven regional districts on Vancouver Island, except Nanaimo, saw gains in building permits. The largest gains were in the Capital Regional District and the Strath-
cona Regional District. “Vancouver Island’s construction industry outlook remains mixed. Market conditions are not conducive to a significant investment upturn given the state of the regional economy, so we expect belowaverage performance for the rest of 2013,” explains Baynton. “But beyond 2013, investment prospects will depend on demand the state of the economy. The expected growth
upturn in the U.S. and Asian economies during 2014 is likely to have significant spinoffs which will reach as far as Vancouver Island.” The Vancouver Island Construction Association, (VICA) is British Columbia’s largest and most inclusive regional construction associations, representing more than 500 construction related businesses on Vancouver Island.
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Rates and prices are subject to change and availability and those listed above are closing prices as of Aug 16, 2013. RBC Dominion Securities Inc.* and Royal Bank of Canada are separate corporate entities which are affiliated. *Member-Canadian Investor Protection Fund. RBC Dominion Securities Inc. is a member company of RBC Wealth Management, a business segment of Royal Bank of Canada. ® Registered trademarks of Royal Bank of Canada. Used under licence. © 2013 Royal Bank of Canada. All rights reserved.
traffiC interruption and ConstruCtion in Comox Where: Knight Road and Kye Bay Road (construction to begin on Knight Road) Start: July 15, 2013 Anticipated Completion: October 31, 2013 Working Hours: 7:00 a.m. to 7:00 p.m., Monday to Saturday.
pLease Be adVised of traffiC disruptions in Your area: In order to comply with Transport Canada Obstacle Limitation Surface (OLS) standard requirements, BC Hydro has been requested to underground a segment of overhead lines near the Comox Valley Airport. Twenty one BC Hydro poles on Knight Road and Kye Bay Road have been identified that breach Transport Canada’s standard requirements and we are required to underground this portion of our system. Construction is planned on Knight Road from July 15 through mid-September and Kye Bay Road from mid-September to October 31. Single-lane traffic is expected during construction. To ensure the safety or our workers, please reduce your speed in the construction zone. For more information please contact: BC Hydro Community Relations, Vancouver Island Phone: 250 755 4713 Email: vancouverisland.communityrelations@bchydro.com.
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The British Colum- with demand.” swelling ranks of home bia Real Estate AssociMany potential buyers. ation (BCREA) reports home sellers that have Year-to-date, B.C. that a total b e e n residential sales dollar of 7,650 h o l d i n g volume was down 2.8 Home sales residential off for per cent to $22.9 bilsales were in the province improved lion, compared to the recorded by posted their stron- m a r k e t same period last year. the Multiple gest July since c o n d i - Residential unit sales tions are were down four per Listing Service (MLS) 2009. expected cent to 42,986 units, in B.C. for Cameron Muir to put while the average July, up 18 t h e i r MLS residential price per cent homes on was up 1.3 per cent at from July of 2012. the market to meet the $531,928. Total sales dollar volume was 32.8 per cent RBC Dominion Securities Inc. higher than a year ago at $4.09 billion. The In the Comox Valley for the past 30 years average MLS residenMARKET DATA AS OF Aug 16, 2013 tial price in the provStock Watch TSX Composite: ..........12,736.92 ince was $534,360, up Royal Bank: ............................. 64.36 DJIA: ..........................15,081.47 TD Bank: .................................. 87.41 12.5 per cent from July Gold: ......................1,365.4 US$ Bank of Nova Scotia: ................ 58.24 2012. Cdn$:........................ .9687 US$ BCE: ........................................ 42.42 “Home sales in the ETFs & Global Investments Potash Corp. Of Sask.: .............. 31.41 Claymore BRIC (CBQ): ............. 21.84 province posted their Suncor Energy Inc: ................... 35.33 BHP Billiton ADR (BHP): ............ 67.54 Crescent Point Energy: .............. 39.29 strongest July since Power Shrs.QQQ (Nasdaq100):.... 75.45 Cdn. Oil Sands: ...................... 21.05 2009,” said Cameron Aberdeen Asia Pacific (FAP):........ 6.59 Husky Energy: ......................... 29.96 S&P TSX 60 (XIU): .................... 18.40 Muir, BCREA chief Pembina Pipe line: ................... 32.53 Government Bonds economist. “After six Transcanada Corp: ................... 46.51 5 year (CDN): ..........................1.98% Teck Resources ltd: ................. 28.70 consecutive months 10 year (CDN): ........................2.74% Cameco: .................................. 20.40 of rising consumer 30 year (CDN): ........................3.20% Investment Trusts 30 year Treasury bonds (US): ....3.86% demand, it’s now clear Brookfield Renewable Energy Partners: 26.85 Fixed Income GICs that B.C. housing marMorguard Real Estate Inv. Tr.: ..... 15.77 HOMEQUITY BANK ............ 1yr: 1.85% Cdn. Real Estate Inv. Tr.: ............. 40.94 kets are recovering EQUITABlE BANK .............. 3 yr: 2.25% Riocan Investment Tr.:................. 23.83 from tighter lending CANADIAN TIRE BANK ..... 5 yr: 2.70% regulations introduced last year. “Rising home sales are unlikely to put any significant upward 777A Fitzgerald Avenue, Cour tenay 250-334-5600 pressure on home Philip J. Shute F.C.S.I. prices as the inventoInvestment Advisor ry of homes for sale is Please call for our complimentary second opinion service Direct Line: 250-334-5609 expected to keep pace Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.