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Morgan:News:2010 |Government| #2022RICHMOND REPORTS 2010 OVAL SPORTS COMPLEX BACK ON TIME AND SLIGHTLY UNDER BUDGET
The latest report on the status of the Richmond sports complex that is to house the 2010 Winter Olympics long-track speedskating oval shows that the project is back on time and running slightly under budget.
A report prepared by Richmond's Director of Major Projects, Greg Scott, a LEED certified engineer, shows that to the end of October, 54% of the project's tenders have closed, "and the contracts awarded to date meet the project budget." The total budget for the project is C$178 million after C$3.8 million worth of grants "and other funds" have been applied. the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Games (VANOC) has provided C$60 million towards the project; the rest is covered through various other revenues provided by Richmond.
The amounts so far committed through tendering and other contracts is C$98.9 million. About C$81.1 million of that is for construction of the main building and related work, compared with the budget for that component of C$151.6 million. The component, which includes expected inflation to 2008 as well as design and construction contingencies, is currently forecast to cost a total of just over C$1 million less than budgeted.
The project is slightly over-budget in the component dealing with consultant fees. That component of the total cost is budgeted at C$17.3 million, but is now expected to total C$17.4 million.
Scott reports that a series of cost-cutting reviews begun in October managed to bring the project's contingency to and additional C$919,982, and that the project management has managed to find ways to offset the delays the project encountered during the phase in which hundreds of pilings were pounded into the foreshore to support the massive structure when it's built.
The current construction schedule envisions the project being substantially complete on August 8, 2008, and the construction of River Road, which is connected with the project, to be completed in January, 2007.
Scott reported that he hoped to have issued tenders for building envelope work and control systems in November, but these have not yet been posted.
He also says, "The terms of reference have been prepared for two highly collaborative art opportunities in the precinct art plan -- the pedestrian bridge and the water works." The artist's call was to begin in November, and staff are expected to give Richmond City Council a recommendation about design concepts next June.
Elsewhere, a contract for constructing the fire-sprinkler system in the complex has been awarded to Simplex Grinnell of the Vancouver suburb of Delta for C$1,162,741.12 plus taxes. SG is a business unit of Tyco Fire & Security of Florida. The SG and five other firms had bid for the work.
RESOURCES
Simplex Grinnell
Delta Branch Office
1485 Lindsey Place
Annacis Island, BC V3M 6V1
Phone: 604.515.8872
Fax: 604-519-1477
www.simplexgrinnell.com
Originally published to Morgan:News:2010:Gold subscribers on December 1, 2006
Morgan:News:2010 |Business| #2021
TERASEN ENERGY EXPECTING TO SET UP UTILITY NEXT YEAR TO SERVE 2010 OLYMPIC VILLAGE IN WHISTLER
Terasen Energy Services of Vancouver is expecting to establish a conservation-oriented utility next year that will only be used to serve the 2010 Winter Olympic Village, now under construction in Whistler.
The Whistler Athletes' Village District Energy System (DES) has been under discussion during the past year with Whistler municipal officials and the Whistler 2020 Development Corporation, a subsidiary of the municipality formed to build the Village and its surrounding neighbourhood.
The concept of how it will work and what it will do has been negotiated, but the "rate structures and formulae" connected with pricing is next on the agenda for talks as part of the full servicing agreement that determines how the system will work. The DES will be constructed, owned and operated by Terasen, according to Whistler documents, under a utility structure much like conventional natural gas or propane gas system.
The proposed DES is expected to include heat-extraction equipment, boilers and pumping facilities located at Whistler's wastewater treatment plant, which is about to undergo a significant upgrade. A two-pipe loop system is expected to carry heated water from the wastewater treatment plant to the Lower Cheakamus neighbourhood, the core of which is the Village. The system will pump the warm water to all of the Village's buildings. Each cluster of buildings and residences will have heat-pump equipment that will extract heat from the pipes to provide space heat and energy for the hot-water supply for the buildings. In order to use this technology, the structures all have to be built with a central heating and cooling system.
The project has a tight timetable to get the Olympic Village built so it can be handed over to the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Games (VANOC) by November, 2009, and Terasen indicates it doesn't have the time to wait until the agreements are finished before applying to the British Columbia Utilities Commission, which regulates all utilities in the province, for permission to set up the DES, which is a relatively lengthy process. However, it says it will start the application this month, providing the BCUC as much as it can as the process proceeds. The BCUC will be asked to approve all of the agreements, including the rate structures.
The Whistler Olympic Village is to be used for Whistler resident housing, for the most part, after the 2010 Games are finished. Terasen is also in the process of building an intermediate-pressure natural gas extension pipeline from Squamish to Whistler. It received approval for the project last June.
RESOURCES
Terasen Energy:
www.terasen.com/EnergyServices/OurProjects/default.htm
Terasen is a subsidiary of Kinder Morgan:
www.kindermorgan.com/
Originally published to Morgan:News:2010:Gold subscribers on December 1, 2006
Morgan:News:2010 |Moguls| #2020
Here are three moguls we ran into today:
ABBOTSFORD CONSIDERS IF NEW ARENA COULD PULL IN 2010 TRAINERS
Senior sports people in the City of Abbotsford, about 80 kilometres east of Vancouver, are suggesting that the approval in the past week of a referendum to build a C$55 million sports complex and arena will allow the community to offer it as a training facility for national teams to practice just before the 2010 Games. "We have the opportunity to bid for countries' high performance programs to come and train a couple of months in advance," she said. Abbotsford Sport Council president Kim Chapdelaine says, "This is such a great city for hosting, and now that we have facilities, our bids are going to be a lot easier." The arena seats 7,000 and is to be located adjacent to the University College of the Fraser Valley by 2009.WHEELCHAIR TRAILS PROJECT AS 2010 LEGACY CONSIDERED BY WILLIAMS LAKE
The Spirit of BC Committee in the city of Williams Lake, in the central interior of British Columbia, debated a project on Thursday that could be a legacy of the BC government's 2010 Legacies Now program. An Accessibility Tourism Workshop, led by 2010 Legacies Now Measuring Up program director Cynthia McEwan, was to hear from the director of the Cariboo Regional District, Alex Bracewell, about an idea that stems from the fact that Rick Hansen, well-known Canadian who is in a wheelchair, is from Williams Lake. Bracewell's idea is to create 210 kilometres of wheelchair-accessible wilderness trails by 2010 in time for the Paralympics. The trails would give those confined to wheelchairs the chance to have the freedom to enjoy the region's wilderness, Bracewell says. He hopes the project is approved for funding, and that Hansen will take part in a ceremony to open the trails in 2010. "I believe we have the opportunity to both raise awareness for wheelchair access and at the same time boost our local economy by developing and promoting wheelchair adventure," he says.SKI CROSS AT 2010 -- HOW IT IS EXPECTED TO WORk
We've been receiving questions from subscribers for a bit more detail about how ski cross is expected to work in 2010. It's the new discipline expected to be added to the 2010 Winter Games if approved during January's VANOC Board of Director meeting. According to a spokesman for the International Olympic Committee, "The principle of ski cross is quite simple... it consists of a race along a route that comprises various natural or artificial elements: moguls, bends, jumps and ramps. Once the qualifications are over, the 16 female and 32 male skiers (depending on the event) who have obtained the best times in the individual events can take part in the competition. The real race can now begin. Four by four, the skiers compete against each other and race down the slopes as quickly as possible - only the first two will qualify for the next stage. The races, also called knockout rounds, continue like this until there are only four skiers left in contention. At the end of their final race, the winners are awarded their medals on the podium." If VANOC confirms its in, the event is expected to take place at VANOC's Cypress Bowl venue, in the mountains just north of Vancouver.
Originally published to Morgan:News:2010:Gold subscribers on December 1, 2006
Morgan:News:2010 |Business
VANOC| #2019
VINCOR CANADA TO PROVIDE WINES TO VANOC IN FIVE-YEAR OFFICIAL SUPPLIER DEAL
One of the world's largest wine companies, Vincor Canada, is to become an official supplier to the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Games (VANOC) in a five-year arrangement that starts in February.
Vincor Canada CEO Jay Wright says the Ontario-based company has reached the agreement on the concept portion of the deal, but is still working out the implementation details of the arrangement. It's expected, however, that it will see the firm supplying thousands of bottles of wine between 2007 and 2012 to support the Canadian aspects and Olympic teams of the next three Olympics -- Beijing's Summer Games in 2008, Vancouver's Winter Games in 2010, and London, England's Summer Games in 2012. Vincor will also receive marketing rights to VANOC's brands during the term of the deal.
Wright says the arrangement is structured in such a way that it depends on VANOC's decisions as to how much of its value to VANOC is taken up in wine or cash. "There is a total value to the deal," says Wright, "and how much of it is in wine, and how much is in cash, just depends on the way things turn out," he says, declining to be more specific. Wright also declined to discuss the total value of the arrangement, pending further discussions with VANOC. He confirmed, however, that only wines would be involved in the supply, not other beverages.
The president of the Torino Winter Olympics, Valentino Castellani, said last week in Vancouver during a visit that the Torino Olympic Organizing Committee "consumed" about 30,000 bottles of wine through gifts and entertainment, and supplies to the Olympic operations family, as it prepared and staged the 2006 Winter Games in Italy. However, Wright says he can't yet provide the order of magnitude of the arrangement with VANOC as the implementation side of the deal continues to be worked out. He adds, however, that the deal will be "similar" to that arranged by TOROC for its Games, but with some additional "innovative" aspects, which he also declined to discuss at the moment, pending further discussions with VANOC. He notes that
Vincor's major brands include Jackson Triggs as the company's mainstay and Inniskillin as its luxury brand. Wright says that British Columbian-grown wines will be the "lead brands" when supplies are required by VANOC, but that there would be shipments coming from its Ontario wineries as well.
Wright also notes that Vincor has a significant aboriginal involvement, which is expected to play a part in the deal, as it's one of VANOC's major concerns in staging the Games. Vincor has two major partnerships with aboriginal bands in western Canada and is one of Canada's largest corporate trainers of aboriginal people. Nk'Mip Cellars (pronounced INKA-meep) is a joint venture between the Osoyoos aboriginal band and Vincor; it was North America's first aboriginal-owned and operated winery. The winery is near Lake Osoyoos.
BACKGROUND
Vincor Canada of Mississauga, Ontario, then known as Vincor International, was acquired last June 5 by Constellation Brands of Fairfield, New York, (ticker: STZ.N) for a total transaction value of C$1.58 billion, which included equity, Vincor net debt and Constellation's estimated direct acquisition costs of about C$13 million. The following day, Vincor president and founder Don Triggs, 62, stepped down as planned from the firm he had built for nearly 17 years into the eighth largest wine company in the world.
Wright, who was president under Triggs, was promoted to CEO. Rob Sands, Constellation Brands president and chief operating officer, said following the takeover that he expected about 10% of Vincor's 2,358 worldwide employee would be laid off, mostly in marketing and admnistrative jobs for reasons of redundancy, as the company was integrated, and that those involved would be offered job-transition counseling. About 80% of Vincor's employees work in Canada.
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Vincor has wineries in British Columbia, Ontario, Quebec, New Brunswick, California, Washington State, Western Australia and New Zealand. It is one of the largest wine importers, marketers and distributors in the United Kingdom. Vincor markets wines produced from grapes grown in the Niagara Peninsula of Ontario, the Okanagan Valley of British Columbia, the Dunnigan Hills of California, the Columbia Valley of Washington State, Western Australia, New Zealand, South Africa and various vineyards around the world.
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Vincor's premium brands include Inniskillin, Jackson-Triggs, R.H. Phillips, Toasted Head, Hogue, Goundrey, Amberley, Sumac Ridge, Hawthorne Mountain, Kim Crawford, Kumala, Ancient Coast and Sawmill Creek. Its mainstream wine brands are Entre-Lacs, L'Ambiance, Sola Nero and Notre Vin Maison.
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Chief Clarence Louie, who has led the Osoyoos Indian Band for 14 years, is the Vincor's main contact with Nk’Mip Cellars, among various other economic development projects in the community. The band owns 51% of the winery. Louie's philosophy, according to Aboriginal Business Canada, which helped Vincor with planning, establishing and even marketing activities when the winery opened in 2002, is that the single most important factor in aboriginal band self-reliance is economic development. The winery can produce about 18,000 cases of wine per year.
RESOURCES
Constellation Brands, Vincor's parent company:
www.cbrands.com
Nk’Mip Cellars
Osoyoos Indian Band and Vincor
Osoyoos BC
Telephone: (250)495-2985
Fax: (250)495-2986
Website: www.nkmipcellars.com
Background on the government economic aspects of this project:
tinyurl.com/ydhn4u
Originally published to Morgan:News:2010:Gold subscribers on December 1, 2006
Morgan:News:2010 |VANOC| #2018
TECK COMINCO TO SUPPLY PRECIOUS METALS FOR 2010 MEDALS AS PART OF 6-YEAR SUPPLIER SPONSORSHIP DEAL
A major Canadian mining company, Vancouver-based Teck Cominco, has become the latest Official Supplier to the 2010 Winter Games and will be the exclusive supplier of the metal used in every gold, silver and bronze medal awarded during the Games.
The CEO of the Vancouver Organizing Committee for the 2010 Olympic and Paralympic Games (VANOC), John Furlong, said about the announcement, "Athletes around the world are training to earn the right to stand on the podium in 2010 and Teck Cominco will play a key role in ensuring their medals -- the ultimate symbol of athletic excellence -- are shining examples of Canada's mining industry."
Teck's C$15-million commitment means it will be working with VANOC and the Royal Canadian Mint, which is also an official VANOC supplier, in the development and production of Olympic and Paralympic medals for 2010.
Teck Cominco, according to its latest financial reports to the end of its third quarter on September 30, had net earnings of C$1.6 billion, almost double the net earnings of C$835 million in the first nine months of 2005.
The company will also work with the Vancouver Organizing Committee on sustainability projects, although what that means wasn't disclosed.
"Staging sustainable Games that leave lasting legacies for generations to enjoy is part of VANOC's vision for 2010, and we are committed to working with partners like Teck Cominco to ensure we are leaders in environmental innovation and footprint reduction," said Furlong.
Teck Cominco president and CEO Don Lindsay only said, in a statement, "Teck Cominco is looking forward to working with VANOC to help achieve sustainability legacies for the 2010 Winter Games."
Under the deal, Teck Cominc negotiated a six-year sponsorship with VANOC, giving the mining company marketing and related rights for the 2010 Winter Games, for the Canadian Olympic teams going to the Beijing 2008 Summer Games, as well as the Vancouver 2010 and London 2012 Olympic and Paralympic Games.
Said Linsay "This is a great opportunity for all of us at Teck Cominco to get involved in a once-in-a-lifetime event, and to make a real difference in our own lives and in the lives of others."
BACKGROUND
Teck Cominco is a diversified mining company. Shares are listed on the Toronto Stock Exchange under the symbols TCK.A and TCK.B and on the New York Stock Exchange under the symbol TCK. The company is a major international producer of zinc and metallurgical coal, and is also a significant producer of copper, gold, indium and other specialty metals.
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There will be 181 medals for each of the gold, silver and bronze positions at the Vancouver Olympic Games. Another 98 medals will be made for each of the gold, silver and bronze finishers for the 2010 Paralympic Games. The medal count will go up if ski cross is included as a new event. A decision by VANOC is expected in January.
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The gold medals don't have to be fully gold; the IOC allows gold medals to be gold-plated silver.
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VANOC's sponsors list: International, through the International Olympic Committee: Coca-Cola, Atos Origin, General Electric, McDonald's, Omega and Visa. VANOC's national tier-1 sponsors are Bell Canada, HBC, RBC Financial Group, GM Canada, Petro-Canada and RONA. VANOC's tier-2 "Official Supporters": British Columbia Lottery Corporation, the Royal Canadian Mint and Teck Cominco Limited. VANOC's "Official Suppliers" are Dow Canada, EPCOR, Haworth Canada and Workopolis.
RESOURCES
Teck's website:
The company's Sustainability Governance section:
www.teckcominco.com/sustainability/governance.htm
Originally published to Morgan:News:2010:Gold subscribers on December 1, 2006