Much to the annoyance of RIM, Sweden’s Ericsson has emerged the winner in the bid for Nortel Networks Corp.’s wireless division. Research in Motion claimed that they had been blocked from the bidding process. Not surprising.

The quest of the current government to divest or sell off Canadian assets stretches further than nuclear isotopes. Jim Balsillie, RIM’s co-chief executive officer stated,

“RIM is extremely disappointed that Nortel’s world leading technology, the development of which has been funded in part by Canadian taxpayers, seems destined to leave Canada and that Canada’s own Export Development Corporation is preparing to help by lending $300 million to another bidder. RIM remains extremely interested in acquiring Nortel assets through a Canadian ownership solution that would serve the dual purpose of keeping key wireless technologies in Canada and extending RIM’s leadership in the research, development and distribution of leading edge wireless solutions, but RIM has found itself blocked at every turn.”

Selling off Canadian innovation in our national interests to keep seems counter-intuitive, but not to the current helm at Industry Canada. Hate to think how they will handle a tourism portfolio when Jim Flaherty has mentioned he may sell off Via Rail.

Yes, the addition of The Marquee Tourism Events Program (MTEP) to Indusrty Minister’s (Tony Clement) plate comes after sexy isotopes and hopes to privatize nuclear medicine in Canada. The tourism portfolio inheritance comes with the turfing of junior cabinet minister Diane Ablonczy (likely over $400,000 of funding to the Toronto Pride Parade). Marry this off with further sell offs of Canadian patents and technology and the new “Conservatives” are taunting the opposition and adding fuel to the election fire.

Well a fight seems to be brewing at least here at Queen’s Park. Dwight Duncan, Ontario’s finance minister, feels that technology funded with Canadian taxpayer money shouldn’t easily be sold off to a foreign company.

The Teamsters and Via Rail came to an agreement early this morning after meeting with a federally appointed mediator. Locomotive engineers agreed to settle their differences through binding arbitration, ending a two-day walkout. The engineers have been without a contract for 2½ years and have been pressing for improved training, work schedules and benefits.

Trains will roll out of Union Station later this afternoon! (around 6pm)

The TSX is looking a little better these days. Is the optimism too much too soon? I mean we have made quite an improvement here.

I for one wont fret for a marked increase in my financial health but calls for the end of THE END OF THE RECESSION are a bit premature. Hang on to your hats folks, the market is a wild ride.

The TTC announced today that Bombardier beat out Siemens Canada for a bid to replace Toronto’s aging streetcar fleet. The estimated billion-plus-dollar contract will provide the TTC with new streetcars and replace nearly all of the 30 year old streetcar fleet. There will also be an option to build another 364 cars as light rail service expands.

Siemens Canada had tried to sweeten their deal by pledging to build their streetcars at a local plant. Bombardier, though based in Montreal, already have a factory Thunder Bay (though most if not all of their light rail manufacturing is in Europe).

In the end Toronto really won. By focusing on best practices and the needs of its Toronto riders, the TTC has done the right thing. We may soon have greener, cleaner and more accessible streetcars. A move in the right direction and at a fraction of the cost of a subway.

A man is being held under the on charges under the Customs Act and Export Import Permits Act . The Toronto Star has reported that a Toronto man is being held for trying to export nuclear technology. Transducers, while not always innocuous as a lab beaker, can be used for legitimate as well as mad scientist purposes. Caution is not a bad thing but it will be interesting to see whether these charges stick and the intent of this man was to export weapons or restricted goods.

Earlier today Premier McGuinty and PM Stephen Harper announced that GO Transit will receive an additional $500 million in funding. This funding is to be split between the province and the federal government and targeted on station parking lots and upgrading rail lines to increase service reliabiliity.

It would be nice if local municipal transit could be better integrated into GO Transit (so many of these city systems work outside the realm of the big transit picture). Sadly few offer service that can meet up with evening trains let alone most rush hour trips. For now more spacious parking lots will have to be the incentive for car happy commuters connecting to Toronto via transit (rather than local buses). I’ve seen the huge surge in GO ridership over the last year first hand due to high gas prices. These are baby steps sure, but steps in the right direction.

It’s official. The opposition has united to defeat the government and the policies presented by the Minister of Finance. Uncharted territory here. Amazing to see how fast differing viewpoints could draft an agreement and proposal to stimulate the economy over the weekend. Mr. Flaherty has called it “a deal with the devil”?

Canada is stronger together, perhaps a coalition government might actually work together toward rebuilding Canada during these trying times. I think that we are in for more concrete action than the Conservatives are willing to admit since ALL opposition parties have committed to unite until June 30, 2011! (The Bloc are supportive of this coalition for 18 months and can extend support after that time since they are not formally part of the coalition). The economy and the environment are front and centre. The coalition will pursue prudent policies to stimulate the economy through investments in infrastructure, boosts to struggling economic sectors as well as home construction and retrofit (low income housing? green tax breaks?). Most important, long term deficits are not in the interest of the coalition.

“Today we respectfully inform the Governor General that, as soon as the appropriate opportunity arises, she should call on the Leader of the Official Opposition to form a new government, supported as set out in the accompanying accords by all three of our parties.

- from the agreement signed by Bloc Québécois Leader Gilles Duceppe, NDP Leader Jack Layton and Liberal Leader Stephane Dion on Parliament Hill, in Ottawa, on Monday Dec. 1, 2008

It will be interesting to see how the Right Honourable Michaëlle Jean, Governor General of Canada reacts.

The largest point drop ever! The TSX is hurting after news in America spooked the market. Is the sky falling? Not sure just yet but it I’m sure it will be a bumpy ride. Some economists saying we have 3 quarters worth of slow to negative growth ahead in Canada. OUCH!

Praying for the best. It will be interesting to see how things play out in the debates. Jack Layton, in Toronto campaigning, called for a meeting of all parties on the potential Canadian crisis but this was rejected.

The University of Toronto is joining forces with IBM. They hope to build a supercomputer among the top 20 in the world and the fastest in Canada. The computer has been optimized with respect to energy use and will have a dedicated building to house it at a projected cost of C$50 million over 5 years.

Not the first time that a major university has set their sights on a supercomputer. Good to see U of T stepping up to the likes of Virginia Tech and Indiana University who have long enjoyed the use of and prestige of managing such a system.

In the early morning, a propane fire started at Sunrise Propane, a propane depot. The site is along Murray Road. The power has been cut in the local area to avoid additional issues as the fires are still raging and have been since about 4am. The 401 has been closed from the DVP to the 400 and the TTC has closed Downsview, Yorkdale and Wilson subway stations. The following TTC bus routes are also being diverted: 29 Dufferin, 84 Sheppard, 96 Wilson, 107 Keele North, 108 Downsview, and the 165 Weston.

At least 5 houses in the area have been damaged and a perimeter (Keele to Dufferin north of the 401 to Sheppard) have been evacuated. The situation has improved but burning tires and smoke from the fire still force a no fly zone in the area. Major airlines are NOT effected and flights continue to move in and out of Toronto Pearson Airport. Although one person is still unaccounted for the city has been lucky this didn’t happen on a work day. About 12,000 people live in the area. Kudos to the Toronto Fire department,
Toronto Police, the OPP and the TTC. Your co-ordinated efforts have many saved lives.

Youtube footage posted by bcochrane14