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RE: Off Topic: Economic Recovery

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Difference between Canadian economy and US economy is Canadian economy is export-based (oil, minerals, manufacturing....), while US economy is consumption-based.  Given the 10+% unemployment, it does not seem consumption will increase anytime soon (except at Dollar Stores) regardless of how Wall Street is faring.
 

From: David L. Fisher [mailto:dfisher(--nospam--at)fpse.com]
Sent: Thursday, August 06, 2009 9:55 AM
To: seaint(--nospam--at)seaint.org
Subject: RE: Off Topic: Economic Recovery

Thanks Daryl.

 

I have entered in a JV with a Canadian engineering firm and they are very busy.

 

Correct also, on the banking end of things up there…we’ve got some exciting

Project financing secured by your very stable banking system.

 

 

I do fear, however, that things in the US will get far worse, before they get better.

 

 

 

 

 

David L. Fisher SE PE

Senior Principal

 

Fisher and Partners

372 West Ontario

Suite 301

Chicago 60654

 

312.622.0409 (m)

312.573.1701

312.573.1726 (f)

 

www.fpse.com

 

 

-----Original Message-----
From: Daryl Richardson [mailto:h.d.richardson(--nospam--at)shaw.ca]
Sent: Thursday, August 06, 2009 11:54 AM
To: seaint(--nospam--at)seaint.org
Subject: Off Topic: Economic Recovery

 

Fellow engineers,

 

        I am writing this in the hopes that it will provide some encouragement to those of you who are hurting.

 

        In the past couple of weeks or so there have been announcements indicating that the recession in Canada was over as well as other indicating that it was not necessarily so; that there was still some bad news to come.  This is significant improvement from three months ago when everyone was spouting nothing but doom and gloom.

 

        Our banking system, which is more conservative than yours and more regulated, did not suffer a single failure.  In fact, I don't personally know of any bank that even cut dividends.  In fact, stogy old Bank of Montreal announced in March that it had been paying dividends since 1829 and it was NOT going to stop now!

 

        One of my colleagues, who operates an structural engineering business (staff of 17 a couple of years ago, 23 today) is now interviewing potential new hires.  This is great news because it is generally known that engineering and architectural activities now usually lead to construction activities a few months down the road.

 

        I hope at least some of you consider this good news.

 

Regards,

 

H. Daryl Richardson