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    Category: Commercial Architectural Services

    Commercial Architectural Services | Superdraft - December 10, 2019 by admin


    We bring experienced, reliable and timely service to every project were invited to work on. Thats because we know what a high priority project is for our clients. At Superdraft, weve spent years recruiting the most innovative and experienced designers. Well find a custom team that will understand your commercial project, realise your vision, and see it through to the finish. The architectural, drafting and IT departments know what it takes to provide exceptional service and unparalleled value to Superdraft clients.

    Since starting in 2011, our designers and engineers have completed over 3500 projects across Australia in just a few short years.Were likely the largestteam of architects and designers operating in Australia today, with a commitment to environmental sustainability and eco-friendly practices. Look throughour portfolioto see key features from our wide range of completed projects. Youll also be treated to a peek into the future of Superdraft through our works in progress.

    We are committed to ensuring our projects run as smoothly as possible, and we value performance feedback. When you partner with Superdraft for a commercial project our support team will be by your side every step of the way. Be confident in your choice of architectural service and enjoy watching your vision build before your eyes.

    Want to find out more? Want to begin your journey with Superdraft?Get in touchwith the team today.

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    Commercial Architectural Services | Superdraft

    Affordable housing is possible, even in Torontos downtown core – The Globe and Mail - December 10, 2019 by admin

    A partial architectural rendering of Castlepoint Numas 3C from New Yorks SHoP Architects. The connecting skybridge is a semi-industrial echo of the nearby Cherry St. bascule bridge, spanning a shipping channel on the citys Inner Harbour.

    Castlepoint Numa

    If theres one thing that Alfredo Romano is proud of when it comes to his 3C Waterfront development, it might be the way it debunks an old real estate adage the one that says you cant have dissimilar income and demographic brackets co-existing on the same piece of high-priced real estate.

    I dont want to create exclusive neighbourhoods, says Mr. Romano, president of Toronto-based Castlepoint Numa. Its not what were about and its not what the city should be about. Toronto is so tightly woven that unless you integrate housing types across the city you end up creating ghettos. Urbanistically, its better to have mixed neighbourhoods.

    3C Waterfront will be exactly that on a grand scale. A 2.5-million-square-foot community of commercial, residential and public buildings on a 13.5-acre strip of prime real estate abutting the Keating Channel, the 1,000-metre long waterway in Toronto that connects the Don River to inner Toronto Harbour on Lake Ontario. Thats an area roughly the size of Nathan Phillips Square, and 1.5 times the square footage of the Britains second tallest building, One Canada Square located at Londons Canary Wharf.

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    The defining structures at 3C Waterfront will be a 50,000-square-foot arts complex with multimedia programming and three towers, each a maximum height of 50 storeys. In a bid to attain Gold Certification under the globally recognized Leadership in Energy and Environmental Design (LEED) standards, exteriors of the buildings will be made from precast, energy efficient materials instead of traditional glazing. These precast exteriors will retain heat in winter and stay cooler in summer, making the building complex more efficient throughout the year.

    Also slated for the development are mid-rise, residential finger buildings, including some 225 affordable homes (10 per cent of the total) for lower income families and professionals.

    A aerial view of the Keating and Quayside precincts, abutting the Keating Channel on Torontos eastern waterfront.

    Castlepoint Numa

    Typically, developers build separate entrances, lobbies and even structures to accommodate whats known in the industry as inclusionary zoning, but 3C Waterfront is making a point of avoiding this poor door syndrome.

    Trying to make affordability and creating a sense of community ought to be the top priority in any development, says Mitch Kosny, a long-time professor and associate director of Ryerson Universitys School of Urban and Regional Planning. Having a sociodemographic mix is normal and appropriate. Its the definition of a healthy community and its pretty much what most Canadians grew up with. Homogeneity is not what we should be building.

    At the heart of 3C Waterfront will be a pedestrian zone featuring a Barcelona-style plaza, which will serve as a kind of urban mixing bowl. Alternately fed by boulevards and compact laneways what the Dutch called woonerfs or living streets because they prioritize human movement over other forms of traffic it will be flanked by Shibuya-style shops and Les Halles-reminiscent caf terraces. Also planned is a red brick tunnel linking 3C with the historic Distillery District to the immediate north, creating a supersized pedestrian zone that will connect to the lakeshore promenade.

    A huge amount of brainpower was sourced locally and internationally to realize 3C, says Mr. Romano, who also developed Torontos 58-storey L Tower condos on the Esplanade and the new Museum of Contemporary Art (MOCA) in the Lower Junction. Its European in intent with high design values, which is why the first firm we hired for the master plan was Foster + Partners.

    London-based Foster + Partners is a kind of Georges Braque or Giorgio de Chirico of the design world, whose cubist-influenced designs include the Kuwait International Airport and The One skyscraper at Yonge and Bloor Canadas tallest building at 85-storeys. In total, six leading architectural firms collaborated on 3C, including Torontos KPMB Architects, Montreals Claude Cormier + Associates and New Yorks SHoP Architects.

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    A pedestrian area will be at the heart of 3C Waterfront.

    Castlepoint Numa

    But for all its progressive thinking and innovative design, 3C Waterfront which is being developed by Castlepoint Numa in partnership with Cityzen Development Group and Continental Ventures has been somewhat lost in the shadows of its attention-hogging new neighbour, Google affiliate Sidewalk Labs. Sidewalks controversial proposal for an experimental smart hub on a 12-acre parcel at Quayside slightly smaller than 3C Waterfront with an assessed value of $590-million has almost entirely dominated the conversation and media coverage surrounding the future of the eastern waterfront.

    What will be transformative for the area is incremental, high quality development from a variety of players, Mr. Romano says. Sidewalk Labs could become a part of that constellation.

    In fact, 3C and Quayside have much in common, with some industry watchers describing 3C as Quayside minus the surveillance and data collection. For example, both are working on a large canvas not only in terms of scale, but also coherence and vision. As the biggest private sector development on Torontos private waterfront land, terms like community building, livability and affordability were front and centre in 3C planning conversations, right from the start.

    Both projects have major roles to play in the extension of Queens Quay East as the public spine of the eastern waterfront, says Bruce Kuwabara, founding partner at Torontos KPMB Architects who helped articulate 3Cs master plan. They should complement one another by creating centres of gathering that serve both precincts.

    A rendering of how the area will look once Castlepoint Numas 3C Waterfront, lower right, and Sidewalk Labs Quayside, behind, are completed.

    Castlepoint Numa

    Waterfront Toronto, a powerful not-for-profit mandated by three levels of government (including the City of Toronto) to deliver a revitalized waterfront, is spearheading a push for housing affordability. It stipulates that at minimum, 20 per cent of residential units built on the waterfront must be made available to market at a 20 per cent discount, as defined by the Canada Mortgage and Housing Corporation (CMHC). For example, data shows that a one-bedroom apartment in Toronto today rents for an average of $1,270 a month whereas, according to Waterfront Torontos definition of affordable rent, the same unit would be available for $1,016 a month.

    According to this formula, Sidewalk Labs proposes to make 20 per cent of all residential units affordable, with at least a quarter of those going to people with pronounced affordability needs. Another 20 per cent of residential units will be set aside for middle-income households. The missing middle is an area of need that has been repeatedly highlighted by government and leading thinkers on housing, but is often left out of development plans, says Keerthana Rang, associate director of communications at Sidewalk Labs.

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    Im a big advocate for affordable housing so I like that 3C is putting together all the ingredients for a complete community, says Meg Davis, chief development officer at Waterfront Toronto, noting that 3C and Quayside together are expected to deliver about 725 affordable homes.

    By some estimates, if even 10 per cent of the kind of city-wide inclusionary zoning mandated by Waterfront Toronto had been enacted 25 years ago, an additional stock of 50,000 affordable homes would now be available in Toronto a figure that could have significantly diminished the ongoing sting of this citys worst ever housing crisis.

    But with Toronto developers cancelling numerous condo projects in recent years (Castlepoint Numas Museum FLTS among them), creating affordability has become even more difficult.

    The industry used to count on certain cost increases and timelines that are no longer reliable, Mr. Romano says. I will never again launch a project unless Im sure the regulatory framework is completely solved.

    That does not, however, change Mr. Romanos commitment to what he calls values-based development. Not everything comes down to a simple numerical value and the bottom line, says Mr. Romano, noting that Castlepoint Numa plans to build about 500 affordable homes in the next 10 years, all independently of government assistance. A majority will be erected on the eastern waterfront, where Castlepoint also owns a five-acre property on nearby Cherry Street.

    So much of Torontos future as a livable megacity hinges on successful, thoughtful expansion. But how will the area look in 10 years? Well have neighbourhoods that are diverse, walkable, compact and affordable, says KPMB Architects Mr. Kuwabara. There will be increased bicycle usage and a demand for social services including daycare and schools.

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    Adds Mr. Romano: When I first started building here 25 years ago there was almost nothing east of Yonge St. except derelict buildings. Seeing everything come together like this is enormously satisfying.

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    Affordable housing is possible, even in Torontos downtown core - The Globe and Mail

    Bolton rezoning proposal clears first hurdle, preservation deal reached with Western Reserve Land Conservancy – - December 10, 2019 by admin

    After multiple reviews, revisions and hours-long discussions, the Bolton property rezoning request is moving forward.

    The Mentor Planning Commission on Dec. 9 approved a preliminary proposal to rezone about 186 acres northeast of routes 615 and 84 from C-1, Conservation District and R-4, Single-Family Residential to Planned Mixed Use Development.

    The commissions positive recommendation now goes to City Council, which will review it and conduct a public hearing. Council can accept, reject or modify the proposal, which would also require voter approval.

    If it passes, they come back for the final site development process, Law Director Joseph Szeman said. The key is that the final plan has to be in substantial agreement with the preliminary.

    Project representative Chris Hermann, principal of Columbus-based MKSK Studios, came to the meeting armed with good news.

    He announced that a deal had been reached between the Bolton family and the Western Reserve Land Conservancy to preserve about 69 acres of ancient forest on the property, at 8021 Center St.

    Conservancy President Rich Cochran was on hand to explain the significance of protecting such a site.

    Ive been president of this organization for 23 years and, to my knowledge, theres only one (other) forest like this in Northeast Ohio, Cochran said. It happens to be in Wayne County; its called Johnson Woods. And I dont think theres another one like it, so were extremely excited to be working to preserve this property.

    I can tell you that if this becomes a preserve, tree-lovers from all over the state, and perhaps from beyond the state, will come to visit just to see these trees. Thats how unique and rare and special they are.

    About half the preservation area is in Kirtland Hills.

    The development proposal also calls for about 55 acres of residential use on the northern end and roughly 32 acres by Interstate 90 as commercial. Forty-two acres in between is designated a town center.

    Under the proposed zoning, a maximum of eight units per acre could be built, or nearly 1,500. However, the applicant is requesting permission for up to 650 total units.

    The site also could support an upper midscale class, limited-service hotel of 80 to 100 keys by 2020, according to a market study presented previously.

    Four residential types are proposed: single-family with medium lots, 50 feet wide with vehicle access and garages in the rear, and porches in the front; single-family with 30-foot-wide lots; townhouses and estates.

    Ken Kalynchuk of Project Management Consultants LLC has indicated that the development could generate more than $600,000 per year through income and real estate taxes, and 500-plus jobs.

    Build out is projected for 2030.

    We think this is going to be a fantastic development both for the people that live and work here as well as all of the residents of Mentor, Hermann said. Were excited to move forward with this. We hope you are too.

    While the applicant seeks to retain and repurpose the Bolton mansion, commission member Geoffrey Varga sought a condition guaranteeing that it wouldnt be demolished or allowed to deteriorate.

    Project representatives expressed concern about being straitjacketed by any conditions.

    The applicant has every intention of making the home a primary feature of the development, but we dont think its reasonable to provide an absolute requirement that they must maintain the residence in perpetuity if they cant find a financially viable means of maintaining it, said the applicants attorney, Thomas Coyne.

    He proposed a condition that, if the applicant cannot find an economically viable use to preserve the Bolton house, the owner would agree to provide notice to the city and a 60-day discussion period to allow the city to work with the owner to find a means to preserve the home.

    Commission member Joseph Sidoti and others were agreeable to the proposition.

    At least that gives the city, the commission, the administration the chance to re-engage with you on some discussions on how to resolve that, Sidoti said.

    The project was approved with 17 conditions, including:

    The buildings proposed along the Norton Parkway corridor (east of Route 615) within Subarea B shall be ground-floor retail with the allowance for small office. Residential shall only be permitted above retail/office space within this area.

    The residential unit count approved for Subarea A is up to 300 units and up to 350 units in Subarea B.

    The Bolton family home should be preserved and re-used as a bed and breakfast, a boutique hotel or any of the allowed uses: housing/residential care facilities (single-family, mid-rise multifamily, assisted living, nursing homes) ; retail/services (barber shops/hair and nail salons, dry cleaners, restaurants, financial institutions, hotel); offices, and research and development facilities.

    Public access shall be provided to the entire proposed conservation area (69 acres) and a conservation easement put in place over the 34 acres of the conservation zone within Kirtland Hills to guarantee it will not get developed.

    Any proposed architectural design of residential and commercial buildings, and site design, shall meet or exceed the Design Criteria set forth in the Planned Development Overlay District regulations during final plan submittal.

    A traffic impact study is required as part of the final plan submittal.

    A tree preservation plan for trees outside the conservation area.

    Any issues that may arise concerning the shortage of the required parking, due to the parking-sharing concept, shall be resolved with the introduction of structured parking.

    Commission Chairman William Snow voted no.

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    Bolton rezoning proposal clears first hurdle, preservation deal reached with Western Reserve Land Conservancy -

    InfraRisk Expands Auto Financing Cooperation with Toyota Finance, Taurus Motor Finance – PRNewswire - December 10, 2019 by admin

    MELBOURNE, Australia, Dec. 9, 2019 /PRNewswire/ --InfraRisk Pty Ltd. (InfraRisk), a leading supplier of credit management solutions in Australia, today announced it has expanded cooperation in auto financing with Toyota Financial Services to Germany and Austria to facilitate its credit process when lending to dealerships and large fleet customers.

    Toyota Financial Services is a wholly owned subsidiary of the world's largest carmaker Toyota Motor Corp, specializing in offering a comprehensive financial services lineup that caters to customers' diverse needs while strengthening the core auto sales finance operation.

    Nicholas Davies, founder and CEO of InfraRisk, said, "These two new European deployments complement existing ones in Europe and Australia demonstrating our platform's ability to operate across multiple geographies catering to a range of country specific factors including policies and languages, with modularity being the key architectural design."

    InfraRisk has been in partnership with the car loan provider since 2016, offering them a fully featured credit management platform - Credit Value Maximiser, or CVX, to Toyota's broad base of customers.

    The modularized tool is built around key origination functionalities, from profile to pricing, with each module connecting via defined APIs. By harnessing the power of big data analytics, cloud computing and artificial intelligence, InfraRisk's auto financing solution will enable a more efficient and effective, as well as regulatory compliant credit process.

    Meanwhile, InfraRisk announced today a new partnership with Taurus Motor Finance, a start-up car loans provider based in Australia with a digital, automated and real-time credit assessment and approval process. The lender is implementing InfraRisk's cloud-based and intelligent CVX platform to facilitate its commercial lending business as it looks to scale up operations.

    "InfraRisk's deep experience in the auto finance sector along with the system readiness to manage the capture of industry specific data fields has grown us into a leading provider of auto finance SaaS solutions," said Victor Li, head of Pintec International Business. "We will continue to invest in the ongoing research and development with committed efforts and build the platform into a smarter and more advanced tool catering to particular ecosystems."

    InfraRisk is a wholly owned subsidiary of Pintec Technology Holdings Limited ("Pintec",Nasdaq: PT), a leading fintech solutions provider that specializes in intelligent retail finance covering point-of-sale installment loans, personal loans, SME loans, corporate and commercial segments, wealth management and insurance services.

    About InfraRisk

    InfraRisk is a leading provider of credit management solutions in Australia. Incorporated in November 2008 and headquartered in Melbourne, InfraRisk has over 10 years of experience in providing services for financial institutions in Australia, New Zealand, Europe and the Middle East. InfraRisk has been providing long-term services, primarily commercial and retail origination systems, to multiple banks and financial institutions including the big four banks in Australia and Toyota Finance.

    Media inquiries, please contact:PintecGao JunPhone: +86 (10) 8564-3600E-Mail:

    SOURCE InfraRisk

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    InfraRisk Expands Auto Financing Cooperation with Toyota Finance, Taurus Motor Finance - PRNewswire

    Architectural Glass: Market 2019 Will Generate New Growth Opportunities in The Upcoming Year to Expand its Size in Overseas Market by AGC,… - December 10, 2019 by admin

    The Global Architectural Glass Market Report Provides A Detailed Analysis of The Current Dynamics of The Market with An Extensive Focus on Secondary Research. It Also Studies the Current Situation of The Market Estimate, Share, Demand, Development Patterns, And Forecast in The Coming Years. The Report Likewise Offers A Total Architectural Glass Analysis of Things to Come Patterns and Improvements. It Likewise Examines at The Job of The Main Market Players Engaged with The Business Including Their Architectural Glass Corporate Review, Financial Summary and SWOT Analysis.

    This Architectural Glass Market Report That Is Imagines That the Length of This Market Will Develop during The Time System While the Compound Annual Growth Rate (CAGR) Development. The Architectural Glass Business Report Point Would Be the Economic Situations and Relating Orders and Takes the Market Players in Driving Fields Over the World.

    AGCSaint-Gobain S.AGuardian glassNSGShahe GlassCSGTaiwan GlassKIBINGXinyiSisecamPPG IndustriesCentral GlassJinjingSchott AGYaohuaChina Glass

    Market by TypeLow-eSpecialOthers

    Market by ApplicationResidential BuildingsCommercial BuildingsIndustrial Buildings

    Research Goals:

    The Report on Global Architectural Glass Market Studies the Strategy Pattern Adopted by Prominent International Players. Additionally, The Report Also Evaluates the Market Size in Terms of Revenue (USD MN) For the Forecast Period. All Data and Figures Involving Percentage Shares Splits, And Breakdowns Are Determined Using Secondary Sources and Verified Through Primary Sources.

    About Us:Web: http://www.qurateresearch.comE-mail: [emailprotected]Ph: US +13393375221, IN +919881074592

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    Architectural Glass: Market 2019 Will Generate New Growth Opportunities in The Upcoming Year to Expand its Size in Overseas Market by AGC,...

    Best of Central Valley Business winners unveiled – The Business Journal - December 10, 2019 by admin

    More than 100 people gathered at Ruth's Chris Steak House Monday to hear the announcement of the Best of Central Valley Business winners. Photo by Ram Reyes

    published on December 5, 2019 - 2:42 PMWritten by Gabriel Dillard

    Ruths Chris Steak House in Fresno was hopping Monday night as more than 100 of the leading local business owners and representatives gathered to hear the winners of the 2019 Best of Central Valley Business awards.

    In its sixth year, the competition invites online readers of The Business Journal to vote for their favorite people, businesses and organizations in the Central Valley in 35 different categories.

    From a humble start of 22,000 votes in the first year of competition, this year the program garnered nearly 160,000 votes from Sept. 1 to Oct. 31.

    The top three vote-getting finalists from each category were invited to the event.

    Be sure to thumb through this Fridays issue of The Business Journal to read about the winners.

    Best Politician on Business Issues:

    Winner: Rep. Devin Nunes

    1st Finalist: Assemblymember Jim Patterson

    2nd Finalist: Rep. Jim Costa

    Best Business Supporting Local Charities

    Winner: Granville Homes

    1st Finalist: De Young Properties

    2nd Finalist: Tale Mountain Casino

    Best Nonprofit

    Winner: Marjaree Mason Center

    1st Finalist: Hinds Hospice

    2nd Finalist: Poverello House

    Best Commercial Real Estate Company

    Winner: Colliers International

    1st Finalist: Fortune Associates

    2nd Finalist: Stumpf and Co.

    Best Residential Real Estate Company

    Winner: London Properties

    1st Finalist: Guarantee Real Estate

    2nd Finalist: Realty Concepts

    Best Real Estate Property Management Co.

    Winner: Granville Homes, Inc.

    1st Finalist: Manco Abbott

    2nd Finalist: Regency Property Management

    Best Architectural Firm

    Winner: Darden Architects

    1st Finalist: TETER

    2nd Finalist: The Taylor Group

    Best Engineering Firm:

    Winner: Blair, Church, & Flynn

    1st Finalist: Precision Civil Engineering, Inc.

    2nd Finalist: Provost & Pritchard Consulting Group

    Best Homebuilder

    Winner: Granville Homes

    1st Finalist: DeYoung Properties

    2nd Finalist: Wathen Castanos

    Best Business Bank

    Winner: Central Valley Community Bank

    1st Finalist: Wells Fargo

    2nd Finalist: Chase Bank

    Best Employment Service

    Winner: PrideStaff

    1st Finalist: Denham Resources

    2nd Finalist: Hire Up Staffing

    Best Property/Casualty Insurance Co.

    Winner: DiBuduo & DeFendis

    1st Finalist: Der Manouel Insurance Group

    2nd Finalist: Alliant Insurance Services, Inc.

    Best Credit Union

    Winner: Educational Employees Credit Union

    1st Finalist: Noble Credit Union

    2nd Finalist: Golden 1 Credit Union

    Best Auto Dealership

    Winner: Selma Auto Mall

    1st Finalist: Hedricks Chevrolet

    2nd Finalist: Haron Jaguar Land Rover Volvo

    Best Accounting Firm

    Winner: The Garabedian Group

    1st Finalist: Moss Addams LLP

    2nd Finalist: Moore Grider & Company

    Best Law Firm

    Winner: McCormick Barstow LLP

    1st Finalist: Dowling, Aaron, Inc.

    2nd Finalist: Baker Manock & Jensen

    Best Advertising Agency

    Winner: JP Marketing

    1st Finalist: Jeffrey Scott Agency

    2nd Finalist: Catalyst Marketing

    Best Bar To Entertain Clients

    Winner: Elbow Room

    1st Finalist: Pismos Coastal Grill

    2nd Finalist: Annex Kitchen

    Best Hospital

    Winner: Clovis Community Medical Center

    1st Finalist: Valley Childrens Hospital

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    Best of Central Valley Business winners unveiled - The Business Journal

    Commentaries on the One Person Corporation under the Revised Corporation Code – BusinessWorld Online - December 10, 2019 by admin

    (First of five parts)

    Section 116 of the Revised Corporation Code (RCC) defines a One Person Corporation as a corporation with a Single Stockholder, who must either be a: (i) natural person; (ii) trust; or (iii) estate, and which shall be governed by a special set of provisions under its Chapter III, Title XIII. However, as will be demonstrated in the discussions below, it would be easier to view the Single Stockholder in a One Person Corporation (OPC) setting as simply a natural person.

    By way of comparison, if the close corporation reflects the commercial medium of an incorporated partnership introduced into the Philippine setting by the old Corporation Code, then the OPC should be viewed as a new corporate medium of incorporated sole proprietorship introduced under the RCC to promote the ease of doing business (EODB). The provisions of Chapter III, Title XIII seek to extend the commercially advantageous features of separate juridical personality and limited liability to entrepreneurs and proprietors of micro-, small-, or medium-enterprises (MSMEs), and to promote the EODB.

    The OPC is primarily a for-profit corporate vehicle and generally cannot be employed by a natural person as a means to practice a profession, unless expressly allowed by a special law. Although theoretically there can be a nonstock corporation with a single member, such an institution would not fall within the ambit of Chapter III, Title XIII of the RCC.

    NATURAL PERSON AS THE SINGLE STOCKHOLDERAlthough Section 10 of the RCC (Number and Qualifications of Incorporators) expressly provides that a person, partnership, association or corporation, singly may organize a corporation for any lawful purpose or purposes, it nevertheless provides in its last paragraph that A corporation with a single stockholder is considered a One Person Corporation as described in Title XIII, Chapter III of this Code. However, not all corporations with a single stockholder would fall within the definition of an OPC that shall be governed under Chapter III of Title XIII, since Section 116 provides essentially that only a natural person may form an OPC.

    a. OPC is Organized as a Stock Corporation. The language of Section 10 referring to a single stockholder, as well as the provisions under Chapter III of Title XIII clearly provides that an OPC can only be organized as a stock corporation with a single stockholder.

    To illustrate, although Section 10 allows for a single incorporator, and the amendment reflected in Section 22 allows the Board of Trustees to be constituted of only one member even for nonstock corporation, nevertheless, when a single natural person incorporator organizes a nonstock corporation with a Board of only one member, such a nonstock corporation cannot be considered as governed by Chapter III of Title XIII of the RCC, but rather by Title XI that governs primarily nonstock corporations.

    b. A Natural Person as the Single Stockholder Acting as Nominee. When an OPC is organized by a natural person, there is no provision in Chapter III of Title XIII to indicate that it would not qualify to be an OPC when the Single Stockholder is holding such shares as a nominee for another person or persons, or even when he/she holds the shares as nominee of a corporation or any other juridical entity.

    This position is bolstered by the fact that Section 116 provides that a trust is qualified to be the single stockholder, even when the trustee clearly holds the trust properties for the benefit of several beneficiaries, or, for that matter, for the benefit of a juridical entity.

    c. A Trust as the Single Stockholder. A trust arrangement is not a juridical entity, and having no capacity to contract as such, cannot legally assume the role of the Single Stockholder who holds title to the shares in the OPC.

    What Section 116 must mean is that the trustee of the trust property, when he/she is a natural person (since a trustee can also be a juridical person) can qualify to incorporate the trust estate into an OPC, with the trustee as the Single Stockholder, even when expressly stating that he holds the shares in the OPC as trustee for the benefit of an identified beneficiary or beneficiaries.

    Again, when the natural person incorporates an OPC in his name as the Single Stockholder, expressly stating that he holds the shares as trustee for an identified beneficiary, this should not disqualify the corporation from being an OPC governed by Chapter III of Title XIII, since the provision itself allows a trust to be incorporated as an OPC, regardless of the trustor/beneficiary of record. It is only when the trustee is a juridical person that it cannot incorporate the trust properties into an OPC with the trustee-corporation itself as the Single Stockholder.

    d. An Estate as the Single Stockholder. Section 111(a) (on Articles of Incorporation) states that If the single stockholder is an estate, the name, nationality and residence of the administrator, executor, guardian, conservator, custodian, or other person exercising fiduciary duties together with the proof of such authority to act on behalf of the estate shall be contained in the OPCs articles of incorporation.

    An estate cannot lawfully become a stockholder of any corporation, because it has no juridical capacity to act; only persons with capacity to contract may own properties (i.e., shares of stock) or become parties to contractual relationships (i.e., as subscriber to the shares of stock of a corporation). It may be true that the OPC may assume the name of the estate, say Estate of the Decedent Juan dela Cruz, OPC, but the Single Stockholder of record would be the fiduciary holding legal title to the estate properties.

    What Sections 116 and 118(a) must mean when referring to an estate which may form an OPC is that whoever is the fiduciary holding title to the estate (whether as an administrator, executor, guardian, conservator, etc.) may validly incorporate the estate into an OPC, with a fiduciary natural person as the Single Stockholder of record. Again, such a fiduciary must be a natural person to constitute the corporation an OPC governed by Chapter III of Title XIII of the RCC.

    As in the case of a trust, the single stockholder may validly indicate that he/she holds all of the shares in the OPC as fiduciary of an identified estate beneficiary. In the case of the conservator, he actually holds the title to properties that pertain to a corporate entity.

    ENTERPRISE OR BUSINESSES THAT MAY BE PURSUED THROUGH AN OPCIf one were to evaluate the various provisions of the RCC, we can deduce the following rules on the types of enterprises or undertakings that may be pursued through the medium of the OPC, thus:

    a. Practice of a Profession. Pursuant to the provisions of Section 10, a natural person can pursue the practice of his profession through an OPC (or an ordinary corporation) only when authorized by the special law that governs the practice of that particular profession.

    An example of such a special law would be the Architecture Act of 2004 (R.A. 9266) that allows the registration with the SEC of architectural professional corporations.

    b. Service Company. A natural person can pursue the rendering of his/her services, other than in the practice of a profession (i.e., a service that is not regulated by the Professional Regulations Commission), through an OPC which thereby retains him/her as an employee or a consultant.

    c. Holding Company. Aside from the express power granted to a natural-person-trustee or natural-person-fiduciary to incorporate the trust properties or the estate into an OPC, there is no prohibition in Chapter III of Title XIII, for an OPC to be organized by a natural person Single Stockholder, not to operate a business, but merely to hold title to properties, real or personal; EXCEPT:

    (i) When it comes to holding title to private lands, where the single stockholder must be a Filipino citizen; and

    (ii) When holding shares in a corporation engaging in a nationalized business or industry, where, if the Single Stockholder is a foreigner, the amount of equity held in the corporation should not exceed 40% of the voting capital stock, nor more than 40% of the entire outstanding capital stock

    d. All Other Lawful Business Enterprises May Be Pursued Through an OPC by the Single Stockholder; EXCEPT: As expressly provided in Section 116: (i) Banks and quasi-banks; (ii) Insurance, preneed and trust companies; (iii) Publicly-held and Publicly-listed companies; and (iv) Non-chartered GOCCs

    e. Businesses Vested With Public Interests. Although not expressly stated in Chapter III of Title XIII (unlike in the case of close corporations), an OPC cannot be organized to undertake any business that has been classified by the SEC as being vested with public interests, because such classes of corporations are required to have at least 20% of the Board constituted of independent directors, which requirement an OPC, by its very nature, cannot legally comply with.

    f. Mining and Oil Companies, Stock Exchanges, Public Utilities. If close corporations are expressly disqualified under Section 95 from engaging in these types of business, then policy considerations should also disqualify the OPC from engaging in such business activities.

    (The article reflects the personal opinion of the author and does not reflect the official stand of the Management Association of the Philippines or the MAP)

    Cesar L. Villanueva is Chair of the MAP Corporate Governance Committee, the Founding Partner of the Villanueva Gabionza & Dy Law Offices, and the former Chair of the Governance Commission for GOCCs (GCG).


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    Emrill announces record annual contract wins of over $US167m – Construction Business News - December 10, 2019 by admin

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    UAE-based facilities management provider, Emrill, has announced contract wins and renewals for the past year of over US$167m, setting a new record for the company with an increase of over 23 per cent compared to the previous year.

    The announcement follows a string of new contract wins over the course of 2018 and 2019, including Marina Gate, Dubai Hills, Dubai Creek Residences and Downtown Dubai, where Emrill provides integrated facilities management to a diverse range of sectors including residential, commercial, retail and hospitality. During the period, Emrill secured over $44m in new project awards.

    Commenting, Emrill CEO, Stuart Harrison, said a major factor in Emrills success in winning new business was its people. At every level of the organisation, we are committed to raising regional FM standards and redefining and improving the client experience one building, one community and one place at a time. We do this by building value partnerships with our clients, working with them to deliver long-term growth.

    Our commitment to our partners success has enabled us to not only win a number of new major projects but also retain existing clients, with over 88 per cent of our new contract wins coming from existing clients.

    Renewals for the period were 81 per cent higher than those in the previous year, totalling over $123m. Commercial contract renewals included Dubai International Terminal 3 and Dubai Opera. Residential contract renewals included Royal Amwaj Residences, 23 Marina and Princess Tower.

    Philippa Carman, Emrills head of business development, commented on the recent Dubai Airports contract award: We were delighted to be awarded a six-year contract by Dubai Airports and to continue the excellent partnership we have built over the last four years. While the scope of work remains unchanged and will see our staff carrying out cleaning and janitorial services in passenger, stakeholder and logistics areas, we welcome the opportunity to expand our offering into concourse A in addition to concourses B and C.

    Emrill will deploy over 1,000 cleaning staff at Dubai International Terminal 3 for the duration of the six-year contract, the longest contract Dubai Airports has awarded the company.

    Speaking about current market conditions, Harrison said: While there is certainly pressure to reduce costs in certain price-sensitive sectors, the feedback we have received from our clients is they are still prioritising service quality and seeking out partners who can support their strategic aims. We have made substantial investment into FM innovation, and this approach has given our clients access to cutting-edge technology and enabled us to deliver operational efficiencies.

    In 2018 and 2019, Emrill launched a number of technological firsts into the UAE market, launching the first efficiency-enhancing app of its kind, specifically designed to enhance and refine the delivery of soft FM services in both horizontal and high-rise communities. The company also mobilised the UAEs first and only CMAR street cleaner, significantly reducing water usage.

    Carman explained: Technology has always played a big role in shaping the facilities management sector. In 2019, our goal has been to ensure we are future ready, both in our practices and procedures, as well as remaining ahead of the curve with the equipment we use. This technology-driven approach to soft FM services has enabled us to pass on this value-add to our clients.

    Harrison added Emrills commitment to sustainability has also played a part in the companys success as clients are becoming more environmentally conscious. He said: We ensure sustainable practices are applied to all areas of the business and provide solutions that help our clients work towards carbon neutrality and sustainability. In 2018, we launched an organic vegetable garden in Dubai, accessible to 5,000 residents living in 1,500 apartments. We also developed a 700 square metre plot of sand into a sustainability park. The newly laid grass and shrubs were fertilised with recycled food waste.

    Essentially, we have been able to grow year on year, retaining contracts and winning new contracts by being flexible and dynamic. Emrills Future Ready Programme was launched to build upon our existing company-wide culture of innovation and future proofing, enabling us to deliver innovations in technology and processes to achieve demonstrable productivity improvements. This is why our clients partner with us, Harrison concluded.

    With over 7,500 directly employed staff, Emrill has operations in Dubai and Abu Dhabi and opened new offices in Sharjah and Ras Al Khaimah in the second half of 2019.

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    Apogee Enterprises Inc (NASDAQ:APOG) Expected to Announce Earnings of $0.76 Per Share – TechNewsObserver - December 10, 2019 by admin

    Brokerages predict that Apogee Enterprises Inc (NASDAQ:APOG) will report earnings of $0.76 per share for the current quarter, according to Zacks. Three analysts have made estimates for Apogee Enterprises earnings, with the highest EPS estimate coming in at $0.79 and the lowest estimate coming in at $0.70. Apogee Enterprises posted earnings of $0.80 per share during the same quarter last year, which would suggest a negative year over year growth rate of 5%. The firm is expected to announce its next earnings results on Thursday, December 19th.

    According to Zacks, analysts expect that Apogee Enterprises will report full-year earnings of $3.04 per share for the current fiscal year, with EPS estimates ranging from $3.01 to $3.07. For the next fiscal year, analysts expect that the business will report earnings of $3.57 per share, with EPS estimates ranging from $3.45 to $3.66. Zacks Investment Researchs EPS averages are a mean average based on a survey of research analysts that that provide coverage for Apogee Enterprises.

    Apogee Enterprises (NASDAQ:APOG) last released its quarterly earnings data on Tuesday, September 17th. The industrial products company reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.15. The business had revenue of $357.10 million during the quarter, compared to analyst estimates of $353.62 million. Apogee Enterprises had a return on equity of 15.92% and a net margin of 3.14%. The companys revenue was down 1.4% compared to the same quarter last year. During the same period last year, the company posted $0.75 EPS.

    Several equities analysts have weighed in on the company. ValuEngine lowered Apogee Enterprises from a sell rating to a strong sell rating in a report on Wednesday. BidaskClub lowered Apogee Enterprises from a hold rating to a sell rating in a report on Thursday, November 14th. Finally, TheStreet lowered Apogee Enterprises from a b- rating to a c+ rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the companys stock. The stock currently has a consensus rating of Hold and an average price target of $43.50.

    Shares of APOG traded down $0.02 during trading hours on Friday, hitting $37.16. 53,400 shares of the company were exchanged, compared to its average volume of 89,896. Apogee Enterprises has a one year low of $26.38 and a one year high of $46.70. The firm has a fifty day simple moving average of $37.61 and a 200-day simple moving average of $38.91. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.05 and a quick ratio of 0.85. The company has a market capitalization of $987.30 million, a PE ratio of 12.55, a PEG ratio of 1.13 and a beta of 1.67.

    The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Monday, October 21st were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.70 annualized dividend and a yield of 1.88%. Apogee Enterprisess dividend payout ratio (DPR) is currently 23.65%.

    Several institutional investors have recently bought and sold shares of APOG. Coastal Investment Advisors Inc. bought a new position in shares of Apogee Enterprises in the second quarter worth about $5,524,000. FMR LLC increased its stake in shares of Apogee Enterprises by 492.9% in the first quarter. FMR LLC now owns 147,702 shares of the industrial products companys stock worth $5,537,000 after purchasing an additional 122,790 shares during the period. Morgan Stanley increased its stake in shares of Apogee Enterprises by 739.6% in the second quarter. Morgan Stanley now owns 122,921 shares of the industrial products companys stock worth $5,339,000 after purchasing an additional 108,280 shares during the period. Nuveen Asset Management LLC bought a new position in shares of Apogee Enterprises in the second quarter worth about $4,483,000. Finally, Schroder Investment Management Group increased its stake in shares of Apogee Enterprises by 32.7% in the second quarter. Schroder Investment Management Group now owns 356,874 shares of the industrial products companys stock worth $15,503,000 after purchasing an additional 87,875 shares during the period. Institutional investors and hedge funds own 89.50% of the companys stock.

    Apogee Enterprises Company Profile

    Apogee Enterprises, Inc designs and develops glass and metal products and services in the United States, Canada, and Brazil. It operates through four segments: Architectural Framing Systems, Architectural Glass, Architectural Services, and Large-Scale Optical Technologies (LSO). The Architectural Framing Systems segment designs, engineers, fabricates, and finishes the aluminum frames used in customized aluminum and glass window, curtainwall, storefront, and entrance systems comprising the outside skin and entrances of commercial, institutional, and multi-family residential buildings.

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    The US Jobs Story and Ghosts of Recessions Past – Daily Commercial News - December 5, 2019 by admin

    Total Jobs Level Relegates Dark Days to Past

    The U.S. economy has been so outstanding at creating jobs over the past ten years that now is a good time to stand back and assess where, among industries, the pickup has been most remarkable and whether there are currently signs of general easing.

    The top half of Graph 1 sets out the level of U.S. total employment from January 2000 to the present. The rectangles of gray shading highlight the last two slowdowns i.e., the setback in Q2 and Q3 of 2001 and the Great Recession running from Q1 2008 through Q2 2009. The downturns in employment during those time frames is quite evident in both the upper and lower portions of the chart.

    Whats also readily apparent, however, is how the past-20-years period, from a number-of-jobs point of view, has split into distinct decades. Total employment at the end of 2009 was slightly less than it was in January 2000. By way of contrast, from January 2010 on, the jobs count has done nothing but ascend.

    Between the two recession, the year-over-year performance of total jobs maxed out, briefly, at +2.0%. A couple of years after the Great Recession, the y/y improvement in jobs again rose to +2.0% and stayed around that healthy yardstick for the next seven years. The y/y total jobs figure has been decelerating a bit during this latest year, 2019.

    In the context of U.S. total employment growth from 2010 on, the big drop in the total employment level during the Great Recession no longer appears as horrendous as it once did. The jobs count has left its darkest days far behind. The overall labor market is no longer being hounded by the past.

    Graph 1: U.S. Employment: Total

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    But there are sectoral labor markets within the U.S. economy that continue to be haunted by the Great Recession. Theyre mainly within goods production, with manufacturing being the prime example.

    Due to offshoring of work and adoption of automation, the number of manufacturing jobs fell into decline from 2000 through 2007, then really plummeted during the six quarters of recession from early 2008 to mid-2009. The recovery in total manufacturing jobs since 2010 has been muted.

    Since 2011, the year-over-year percentage-change improvements in total manufacturing jobs have been in a range of zero, at worst, to +2.5%, at best. Most recently, the y/y performance has been trending down towards zero.

    Graph 3 records results for one of manufacturings key sub-sectors, motor vehicle and parts production. The shape of the curve for level of auto-related jobs closely follows total manufacturing, with a steep slide during the Great Recession, and a gentle uplift since then.

    Motor vehicle jobs scored a victory over total manufacturing jobs in mid-2012, however, when they soared to +10.0% y/y. Since then, their y/y advance has been gradually tailing off. In October of this current year, there was a big drop in employment (-5.9% y/y), but that was a one-off caused by the month-long strike at GM.

    On a positive note, there have recently been significant investments in auto sector production, including new Fiat Chrysler and Toyota-Mazda assembly lines in Michigan and Alabama and vehicle battery manufacturing plants in Alabama (Mercedes-Benz) and Georgia (SK Innovation).

    Graph 2: U.S. Employment: Manufacturing

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Graph 3: U.S. Employment: Motor Vehicles and Parts Manufacturing

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Construction is another sector where the last recession has yet to be fully beaten back and thoughts of the previous trough can still induce cold shivers. From the upper portion of Graph 4, the total number of construction jobs now remains a tad under what was achieved in 2006 and early 2007.

    In the Great Recession, auto sector jobs fell by as much as -30% y/y. The construction sectors jobs count wasnt battered quite as severely, but -18% y/y was a tough pill to swallow nonetheless.

    Since the 2008-09 recession, construction employment y/y peaked at +6.0% in late-2014-early 2015, then stayed robust through mid-2018. During the latest 12 months, though, the curve has been on a downward slope, although +2.0% in October 2019 continues to be lukewarm respectable.

    Graph 5 shows an upfront component of the building sector, architectural and engineering services, where the jobs picture has been somewhat brighter than for overall construction. Total employment in design services surpassed its previous peak two years ago and continues to jog higher.

    Interestingly, on a year-over-year basis, architectural and engineering services jobs did manage +6.0% gains before both the collapse and the 2008-09 credit crunch. The +6.0% surge ahead of the 08-09 financial crater was fueled by a homebuilding bubble (requiring drawings) that imploded when the full extent of the sub-prime mortgage fiasco was exposed.

    In the latest decade, +6.0% y/y has been unattainable. The y/y change in architectural and engineering services jobs has often been +3.0% (i.e., half of +6%), but has never broken above that barrier.

    Graph 4: U.S. Employment: Construction

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Graph 5: U.S. Employment: Architectural and Engineering Services

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    There is another category of goods employment that bears scrutiny, oil and gas extraction work While the number of jobs in the fossil fuels field is relatively low (i.e., 200,000 at most), the importance of those jobs has been having an outsized impact on the economy.

    The total volume of U.S. construction starts in 2019 to date has been inordinately bumped up by initiations of ultra-large projects, otherwise known as mega projects. Megas have estimated values of $1 billion or more each.

    The biggest mega projects, of $5 billion and increasing from there, have been energy-related. Among notable construction starts in 2019, LNG export terminals (e.g., Golden Pass in Texas and Calcasieu Pass in Louisiana) have been two such projects, augmented by more traditional ethane cracker and refinery work.

    The upper portion of Graph 6 shows that while the level of employment in oil and gas extraction contracted dramatically in 2015 through 2018, jobs in the sector over the past two years have come roaring back.

    From the bottom portion of Graph 6, the swing in y/y employment has gone from -20% at worst in early 2017 to +11.8% at present. 2014 marked the beginning of a harrowing drop in global oil and gas prices. Lately, world energy markets have managed better price stability.

    Graph 6: U.S. Employment: Oil and Gas Extraction

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Since employment in goods production has not generated the smooth upwards progression that is evident for all jobs in Graph 1 from 2010 on, it must be services-providing work that is providing the consistent advances. Graph 7, which is nearly a replica of Graph 1 in shape, confirms that such is the case.

    But not all services sub-sectors tell the same story. Retail trade work (Graph 8), for example, has diverged significantly. The level of U.S. retail jobs recovered nicely for seven years after the Great Recession, but then crashed into a wall.

    The total number of retail jobs in the country over the past three years, coincident with closures of many bricks and mortar locations across the land, has been in slow decline.

    Graph 9 shows employment in education and health care. This is social service work that ties to demography. Schooling for younger generations and broad-spectrum medical care, increasingly slanted towards an aging population, are universal needs that will always generate a demand for practitioners and helpers.

    From the bottom half of Graph 9, y/y employment in education and health care has never been negative in the past two decades, not even during the two recessions. In fact, it has never dipped below +1.0%.

    Graph 7: U.S. Employment: Private Services-Providing

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Graph 8: U.S. Employment: Retail Trade

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Graph 9: U.S. Employment: Education and Health

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Thankfully, employment in the leisure and hospitality sector has been a fallback position for many individuals, especially young adults, seeking work. Graph 10 shows a steady upwards climb in the level of leisure and hospitality jobs since the 2008-09 recession.

    More importantly, though, from 2012 through mid-2017, the y/y change in employment in the sector was mostly between +3.0% and +4.0%, beating the all jobs increase of +2.0%.

    Its been no coincidence that hotel and motel construction starts also experienced a cyclical boom that began in 2012 and culminated with a peak in 2017.

    Finally, Graph 11 shows another services-providing sub-sector which has managed exceptional jobs growth over the long-term. Computer systems design services employment encountered a minimal downturn in the last recession and has been growing by +5.0% or more year over year during much of the last two decades.

    In October 2019, jobs growth in the sub-sector was still high at +4.0%. Theres good news for the construction industry in these numbers. Many of the new jobs in high-tech require desks, cubicles, labs and meeting rooms, all of which means a need for built-up square footage.

    Graph 10: U.S. Employment: Leisure and Hospitality

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Graph 11: U.S. Employment: Computer Systems Design Services

    Gray shadings denote recessions, Q2-Q3 2001 ( collapse) & Q1 2008-Q2 2009 (Great Recession).Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Payroll Survey, Bureau of Labor Statistics (BLS).Chart: ConstructConnect.

    Graphs 12 through 15 show the jobs results for Canada in a similar fashion to what has been presented for the U.S. The categories covered are total, manufacturing, construction and services-producing.

    One difference between the Canadian and U.S. graphs immediately jumps out. Canada has only one gray-shaded rectangle denoting a recession. The U.S. disturbance of Q2-Q3 2001 was not felt to a particularly negative degree north of the border.

    As for the 2008-09 recession, Graph 12 establishes that Canadas decline in employment, at about -2.0%, was not as bad as Americas, -5%.

    Also, for Canada as well as the U.S., when year-over-year total employment growth reaches +2.0% or higher, its a cause for celebration.

    From Graph 13, Canadas manufacturing jobs count has sunk by nearly one-quarter from the beginning of this century. Unlike the U.S., however, there has been no improvement i.e., not even a slight recovery in the manufacturing sectors jobs level in Canada since the Great Recession.

    Whereas U.S. construction employment fell by -18% y/y at the time of the 08-09 recession, the Canadian construction experience (Graph 14) was a relatively tame -6%. Canadian construction jobs during that period were supported by ongoing energy mega project work in Alberta, a government-backed infrastructure spending program and homebuilding activity that faltered slightly, but to nothing like the same degree as south of the border.

    Year-over-year Canadian construction employment growth over the past six years (fluctuating around +2.0%), however, has not been as impressively upbeat as it was in the first four years of this latest decade (often +4.0% or more).

    As for services-providing jobs in Canada (Graph 15), they retreated by only -1% y/y in the last recession and most recently, theyve staged a noteworthy breakout. Theyve been +2.0% or higher in every month of 2019 so far. Furthermore, their trajectory has been upwards, taking them to +3.0% y/y in October.

    Graph 12: Canada Employment: Total

    Gray shading denotes recession, Q4 2008-Q2 2009. Unlike U.S., Canada did not experience a recession in early 00s. Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Statistics Canada.Chart: ConstructConnect.

    Graph 13: Canada Employment: Manufacturing

    Gray shading denotes recession, Q4 2008-Q2 2009. Unlike U.S., Canada did not experience a recession in early 00s. Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Statistics Canada.Chart: ConstructConnect.

    Graph 14: Canada Employment: Construction

    Gray shading denotes recession, Q4 2008-Q2 2009. Unlike U.S., Canada did not experience a recession in early 00s. Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Statistics Canada.Chart: ConstructConnect.

    Graph 15: Canada Employment: Services-Providing

    Gray shading denotes recession, Q4 2008-Q2 2009. Unlike U.S., Canada did not experience a recession in early 00s. Latest data points are October, 2019 / Based on seasonally adjusted (SA) data.

    Data source: Statistics Canada.Chart: ConstructConnect.

    Alex Carrick is Chief Economist for ConstructConnect. He has delivered presentations throughout North America on the U.S., Canadian and world construction outlooks. Mr. Carrick has been with the company since 1985. Links to his numerous articles are featured on Twitter @ConstructConnx, which has 50,000 followers.

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