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Why did B.C.’s LNG dream fail?
When Malaysian energy giant Petronas announced last week that it was not going to proceed with its Pacific Northwest LNG project, there was plenty of recrimination to go around: was it indecisive politicians, meddlesome regulators, or simply low gas prices? Economist Andrew Leach takes a detailed look at the factors that played into the decision, and why the situation in B.C. was unique:
Link: Canadian Business
[T]he question I’ve most often heard this week is: if this is purely a market story, why is it not happening in the U.S.? The U.S. has built and is still building LNG export facilities and, these facilities are challenged by current market conditions. So, why did the U.S. build while we didn’t? In effect, the U.S. had an advantage from being far behind—in the mid-2000s, the U.S. was very short natural gas, and built a lot of import capacity…. Many of those import sites, with pipeline infrastructure, docks, storage, and such were converted to export facilities as the U.S. gas market swung from short to long after 2013.
Hire people who got fired
Wharton University professor Adam Grant has made a career out of studying how companies can manage more effectively and build better teams. As part of his research into what he calls “Originals”—people who don’t blindly accept the status and ultimately drive change within organizations—he suggests taking a second look at job candidates who left their last posting on, well, less than glowing terms. Sometimes people get fired because they’re lousy at the job; other times it’s because their higher-ups wanted a conformist and they couldn’t oblige:
“Take Sarah Robb O’Hagan. She held senior roles at both Virgin and Atari and got fired at both. A deadbeat right? Afterwards, she got a job at Nike and then became the president of Gatorade and Equinox,” says Grant. “When she guest-spoke at my class, she swore six times in the first five minutes. Early on, she talked very openly about being fired and how devastating it was to her career, but how we should all be more willing to take risks and make mistakes. Sara doesn’t worry about pleasing others or fitting in. At Gatorade, she championed many ideas that nobody liked. For one, she said it shouldn’t be just a sports drink, but a sports performance company. Everyone hated those ideas…until they eventually rescued the brand.”
The Tesla 3 hype continues, perhaps deservedly
The first production Tesla Model 3s were delivered to customers in a splashy ceremony over the weekend, and as is now standard for Elon Musk’s all-electric car company, the media coverage was plentiful and largely positive. Even discounting for Musk’s Steve Jobs–like reality distortion field, however, the reviews of the company’s first mid-market car are very good. For example, this rapturous take from Motor Trend:
Link: Motor Trend
The Model 3 is so unexpected scalpel-like, I’m sputtering for adjectives. The steering ratio is quick, the effort is light (for me), but there’s enough light tremble against your fingers to hear the cornering negotiations between Stunt Road and these 235/40R19 tires (Continental ProContact RX m+s’s). And to mention body roll is to have already said too much about it. Sure, that battery is low, way down under the floor. But unlike the aluminum Model S, the Tesla Model 3 is composed of steel, too, and this car’s glass ceiling can’t be helping the center of gravity’s height. Nearly-nil body roll? Magic, I’m telling you. Magic.
The mafia has a millennial problem
And you thought you were having trouble integrating millennials into your business. Apparently, the mob is having the same problem, with considerably more bullets fired:
Link: The Toronto Star
Some of this year’s violence is blamed on an ongoing culture clash between the old and the new. On one side are the aggressive young computer-friendly newcomers from B.C. and Quebec allied to a gang called The Wolfpack Alliance. On the other side are the old guard — the GTA arm of the traditional ’Ndrangheta family of Cosimo (The Quail) Commisso of Siderno, Italy. The Wolfpack Alliance was formed in British Columbia about a decade ago. […] It’s a rapidly evolving group of organized crime disrupters. Their members don’t have blood or ethnic ties or a code of conduct or a rigid hierarchy. They’re generally young and tech savvy.
WATCH: Bots among us
Another day, another demo of Apple’s ARKit platform, this time from British game developer Duncan Walker, who is experimenting with how phone-based augmented reality might be used for entertainment purposes. In this case, Walker’s phone is inserting sinister robots into an ordinary street scene. It’s just a proof of concept at this point, but it points to another potential application. Remember the Pokémon Go craze, in which you could look around and see colourful cartoon monsters frolicking? This is a far smarter version of that experience, and one that integrates with the natural environment in a much more natural way. Link: YouTube
Earnings reports today
Canadian publicly traded companies of note scheduled to report quarterly earnings today:
Air Canada (AC), Alacer Gold (ASR), Baytex Energy (BTE), Colliers International Group (CIGI), Cardinal Energy (CJ), Endeavour Mining (EDV), Foraco International (FAR), Gibson Energy (GEI), Golden Star Resources (GSC), goeasy (GSY), Horizon North Logistics (HNL), Intact Financial (IFC), Genworth MI (MIC), Martinrea International (MRE), Morguard North American Residential REIT (MRG.UN), North American Palladium (PDL), Pembina Pipeline (PPL), Saputo (SAP), Secure Energy Services (SES), Shopify (SHOP), Sierra Metals (SMT), Supremex (SXP), Trinidad Drilling (TDG), Taseko Mines (TKO), Spin Master (TOY), Thomson Reuters (TRI), 5N PLUS (VNP), Whitecap Resources (WCP), WestJet Airlines (WJA)
Thanks for reading! Have a truly excellent day.
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