Rural dealership closing after half a century in Saskatchewan
Richmound Motors of Saskatchewan will close at end of year after 28 years under Jim and Beatrice Jager. The family cites high tech costs, data-sharing contracts since 1985, and shrinking rural dealer networks as factors. Jager notes 25 years ago towns had multiple dealers. now some have none. He will stay in the auto industry in Medicine Hat with Beatrice seeking city jobs.
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Chambers push for conservation funding raises federal role
The Lethbridge Chamber of Commerce urges Ottawa to expand federal involvement in water supply and conservation, maintain farm subsidies until rivals cut theirs, and fund infrastructure, research, and public awareness. It cites drought, urges national planning, and includes a push for better airport rental terms.
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Unemployment Claims Jump to Nine Year High
U S initial unemployment claims rose to 432000 for the week ended June 2, the highest since September 1992, with the four week average at 413500. Economists warn the weak labor market could endanger the economy and consumer spending.
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Aboriginal group stalls Mackenzie Valley gas pipeline plan
The Deh Cho First Nations refused to sign a memorandum offering a one third share and benefits in the Mackenzie Valley project. Grand Chief Mike Nadir wants more review of land claim impacts delaying talks until July 9 and likely beyond. Analysts warn delay could cede momentum to an Alaska gas route.
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Junk bonds rebound as high yield era returns
Junk bonds surge with 7 percent year rise and near 17 percent annualized including interest. Moody’s reports US junk bonds outperform stocks, investment grade and government debt for the first time in a decade. Dean Kehler of CIBC World Markets in New York notes the rebound.
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