Toronto Living Shangri-La Toronto | 214.57m | 66s | Westbank | James Cheng

grey said:
True, but something to keep in mind is that Caisse de depot is in serious financial trouble.
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You should be careful with the terms serious financial trouble.

At year-end 2007, they had assets of $155B.....like most/all investment firms, they have suffered losses in their portfolio......they only release results once a year (coming up at, I think, the end of February).....at that time the extent of their losses will be known (FYI...they have been consistant with their position that results are released once a year....when they were leading the industry in terms of results they resisted the temptation to brag mid-year then...so they deserve the respect of people waiting for their results)....they also continue to receive pretty significant inflows of cash (from their member pension funds).....so I doubt that they could be described as being in serious financial trouble.....i understand that they have temporarly suspended making new real estate loans (as a lot of commercial lenders have) but, to my knowledge, they have not renegged on any outstanding comittments.....since they made this loan (on paper at least) back in April '08, I have (and will continue to) assumed that they will honour their loan agreement as long as the borrower does (ie. if there is no incident of default on the borrower side then I assume this lender will continue to fund....that is the sort of company they are).
 
This is my justification for that comment:

Last year, the Caisse wrote off $1.9-billion in troubled ABCP and more writedowns are expected. The opposition Parti Québécois and the Action Démocratique du Québec reiterated yesterday that they estimated ABCP losses could rise to between $3-billion and $4-billion, and say the Caisse's total loss for last year could hit $30-billion.
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Source: The Globe & Mail (yesterday)

So yeah, I think my statement was more than reasonable.
 
grey said:
This is my justification for that comment:


Source: The Globe & Mail (yesterday)

So yeah, I think my statement was more than reasonable.
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Look we will just have to agree to disagree on what "serious financial trouble" means.

When I hear of a company that is in serious financial trouble, I understand it to mean they are in danger of failing and/or not meeting their obligations.

A company with $155 billion in assets that has to write off 30 billion....is not happy but they might just say..."we lost 19% in 2008....pretty decent when you consider the TSX was down 35%".......doubt if just losing some asset value is, necessarily, considered "serious financial trouble"
 
i know this building will be very tall, but considering its width and distance from the lake, what kind of impact will it have on the appearance of the skyline? is it going to disappear like the BAC?

regardless, though, from all other angles, i'm sure it will look stunning. once this tower, college park and all the yorkville developments have been constructed, i'd love to see a "side-angle", north south picture of toronto from bloor to the lake.
 
wow. terrific views of toronto. i love when when airplanes and cameras collide! perfect combo!

i don't really like flashpoint very much, but it sufficiently feeds my fetish.
 
Stay on topic please!

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Today:

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^^ Not again?!?! As everyone can see, Shangri-La is perfectly fine! There is absolutely nothing to suggest its going under.

^edit: simultaneous post
 
They are going under - I mean down - as in digging deeper into hole - but not that kind of a hole - a hole in the ground...


They appear to be doing so without delay.


The place resembles a money pit presently.
 
cayle said:
is this project going under? are they delaying it?
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Welcome to the forum, Cayle. Please read a reasonable amount of the threads before posting questions that are already answered in them.

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