Fairmont Resort Properties restructures debt

Press release — Fairmont Resort Properties Ltd. –

On March 30, 2009, Fairmont Resort Properties Ltd. was made subject to creditor protection under the Companies Creditor’s Arrangement Act “(CCAA”). This process allows the Company the opportunity to present a plan to restructure its obligations to the benefit of all stakeholders including secured and unsecured creditors, employees and customers. Fairmont time share owners are not affected by this plan of arrangement and continue with the rights their acquired at the time of their purchase. [Read more]

Retooling for hard times

A REAL humanistic story –

These are really tough times, at least for some of us. I wonder how many people are feeling it at a very deep and scary level. How many people are wondering how they are going to get to the next payday. There are bills to pay, groceries to buy, and always that inevitable time when the dog swallows something that he shouldn’t have.

What do you do? You start lining up your priorities. You look at what HAS to be done NOW. i.e. get the dog to the vet. And once you get there — and that’s if you have enough gas in the tank to do that — you cajole or do whatever you have to, to get your beloved animal saved. Later you’ll worry about whether or not you have to give up your first born, or just mow someone’s lawn for the next year…or two…or four!

It’s amazing what people can come up with when they have to. Financial crises hit different people in different ways. I remember when my sister was having ‘financial difficulties’ and they couldn’t build their swimming pool to Olympic dimensions… they had to cut it back by 5 feet. Whoopee… .I couldn’t pay my rent that month! [Read more]

Invermere Furniture (The Place) up for auction

A notice of auction on the window of Invermere Furniture indicates the closure of a long time Invermere business. Invermere Furniture, formally known as The Place, was closed by its landlord on November 23, 2008. Interior Bailiffs were given orders to seize and hold the goods and chattels of “DWT Enterprises Ltd., operating as “The Place” for the sum of $24,669.39” to compel payment or reparation to the landlord. [Read more]

Resort at Copper Point is latest victim of global recession

The Resort at Copper Point has become the latest victim of the global recession. On Sunday, March 1, 2009 the resort sent a receivership notice to its owners reading: “We are disappointed to advise you that our refinancing efforts to enable resumption of construction of the Copper Point Resort have failed.” [Read more]

BC budget highlights

With $14 billion in planned infrastructure spending and $4.8 billion in increased health care funding, the BC Liberals’ new budget is a good prescription to address many of the problems facing the province, says BC Liberal candidate Mark McKee. “The world economy is ailing and this is a good BC Liberal prescription to help fix it. Extraordinary times calls for extraordinary measures,” McKee said Thursday after Finance Minister Colin Hansen unveiled the new budget.

[Read more]

McKee addresses Tembec closures

Press release –

McKee says economic downturn calls for stability & proven leadership

This week’s announcement by Tembec that it would temporarily close plants in three Columbia River-Revelstoke communities underlines the need for a strong BC Liberal government capable of moving the economy forward through these tough times, says BC Liberal Candidate Mark McKee.

“Tembec’s decision to close the plants in Canal Flats, Elko and Skookumchuck reiterates just how important it is to keep proven leadership on the economy through these tough times,” he said. “This is why the BC Liberals are fighting to not only keep the provincial economy ticking and people at work, but also to oppose the NDP’s attempts to cancel the Softwood Lumber Agreement because that would cost our region even more jobs.” [Read more]