Hidden land assets lift cash strapped firms in Canada
A Toronto real estate consultant found forgotten parcels across southern Ontario for a client, including a 90 acre tract north of Toronto used since 1960 for future industry but later carved into a green belt. The firm borrowed 25 000 per acre, then sold at book value rising to 41.5 million. Inflation accounting spurs firms to reexamine holdings and unlock real estate value. Pan American World Airways plans to sell its 49 storey New York building for 400 million and lease back space.
MENTIONED IN THIS ARTICLE
Toronto
Patrick Flain
Ontario
Irving E. Cohen
Howard P. Hoffman
Manhattan
Edward J. Okin
Carrier Corporation
Syracuse
N.Y
Chrysler Canada Ltd
Windsor
Ottawa
Chrysler
Canadian Pacific Ltd
Montreal
Hudson's Bay Co
Winnipeg
Flain
Niagara Peninsula
Flain Realty Advisors Ltd
Pan American World Airways
Pan Am
New York
Business urged to boost research investment in Canada
Ottawa business leaders urged higher spending on research and development to lift Canada's weak productivity. Rowland Frazee of the Royal Bank of Canada argues government action is not the sole remedy and that firms must invest, while others call for labor and management reforms, better labor relations, and a long term view of productivity.
MENTIONED IN THIS ARTICLE
Ottawa
Rowland Frazee
Royal Bank of Canada
Frazee
Conference Board
Canada
Japan
United States
FBDB
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Heineken N.V
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Basken
Medicine Hat Inn
4Th Street
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J. Brian Batter
Ronald K. LaFournie
W.C
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Eaton Regular
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T.V
Ywvezis
Hoover
Eaton
Eaton's