Sectors

TransAlta Expands in Quebec with $205 Million Wind Power Project

Mon, 28 Mar 2011 02:03:30 -0800

TransAlta announced today the expansion of its wind portfolio in Quebec. Constructing the 66-megawatt New Richmond wind project, TransAlta’s portfolio will increase to 1,139 megawatts.

New Richmond is under a 20-year Power Purchase Agreement contract with Hydro- Québec Distribution. For this project, TransAlta is working with ENERCON to supply and install 33 wind turbines and their respective infrastructure. Construction is estimated to begin in the fourth quarter of 2012.

“As a part of our wind growth strategy, the addition of the New Richmond project will increase our wind portfolio to 1,139 MW,” said Steve Snyder, President and CEO, in a statement. “Building our presence in a key market such as Quebec is an important part of our goal to enhance shareholder value, as well as strengthen our position as the premier wind power generator in Canada.”

The New Richmond project was given the go ahead Monday morning by the Quebec government, allowing for pre-construction work to start in April.

“We appreciate the relationships we have built with the municipalities of New Richmond, St-Alphonse and Caplan, in which the wind turbines will be installed, and look forward to playing a part in the long-term sustainability of these communities,” continued Snyder.

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The New Richmond wind project is estimated to, at completion, produce enough energy to power approximately 10,500 Quebec households and generate 100 jobs during the project’s development and construction phases.

TransAlsta already has one facility located in Quebec. Also located on the Gaspé Peninsula, The Le Nordais wind facility creates 99 mega-watts.

Eurocopter Places $625 Million Takeover Bid for Vector Aerospace

Mon, 28 Mar 2011 01:05:39 -0800

Eurocopter, a subsidiary of EADS, has placed a friendly take-over bid for Toronto based Vector Aerospace. Offering approximately $625 million, Vector Aerospace shares soared after the announcement.

Vector Aerospace is a leading provider of multi-platform maintenance, repair and overhaul services. Employing around 2,500 in Canada, the United Kingdom, the United States and Africa, Vector Aerospace’s 2010 annual revenue was $545 million.

This move comes from EADS and its strategic growth in the support and services domain. Additionally, this acquisition will grow EADS and Eurocopter’s global presence.

“This acquisition perfectly fits EADS’ Vision 2020 strategy, increasing services, strengthening the helicopter business, international and more specifically North American exposure while keeping a good balance between military and civil activities. It is also an excellent investment opportunity for Eurocopter, as Vector Aerospace has proven resilient and profitable growth. EADS sees in this acquisition a potential for synergies and value creation for our shareholders,” said Louis Gallois, CEO of EADS, in a statement.

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For Eurocopter, acquiring Vector Aerospace is an excellent investment opportunity that will help the company venture into new areas, such as the maintenance of engines, and offer services to non-Eurcopter products.

“This opportunity will provide the Eurocopter group with a high-level of expertise, especially in public-private partnerships for the maintenance on governmental aircraft. The complementary nature of our worldwide network of subsidiaries and Vector Aerospace’s own network will enable us to develop our activities jointly, both faster and more efficiently. Vector Aerospace will be managed as an independent multicustomer platform MRO,” said Lutz Bertling, CEO of Eurocopter Holding, in the same statement.

Vector Aerospace shares rose to $12.85 soon after TSX opened Monday morning, resulting in a 13 per cent climb.

Porsche Taking Orders for the 918 Spyder

Sat, 26 Mar 2011 12:00:00 -0800

Created from a concept car originally unveiled at the 2010 Geneva Moror Show, dealers around the globe are taking orders for the Porsche 918 Spyder. Taking a significant step toward production, the 918 Spyder marries unique plug-in hybrid technology with outstanding performance.

Featuring a stunning 500+ horsepower V8 engine, this Porsche hybrid is assisted by not just one, but two electric motors. Porsche estimates the motors will only consume 3.0L/100 km with official EPA fuel economy figures announced near the end of 2013.

The hybrid is exclusive. Porsche’s production run of the hybrid will include no more than 918 sportcars. Production will start around September of 2013 and the manufacturer’s suggested retail price is $825,000.

The 918 Spyder will have a very unique hybrid system. It features a high-revving, mid-mounted V8 engine with the capacity of more than 4.0 liters that will produce at least 500 horsepower. Additionally, the enging is based off the Porsche RS Spyder racing engine, one that has demonstrated impressive performance and efficnecy through multiple victories at the American Le Mans series. Power is transferred to the rear wheels by Porsche’s compact, seven-speed double-clutch gearbox.

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The two electric motors are placed above both the front and rear axles offering an innovative, variable all-wheel drive system with independent control of both axles. The Porsche 918 Spyder is expected to deliver super sports car performance, and the final production version will accelerate from 0-97 km/h in approximately 3.1 seconds. Under the right circumstances, this Porsche hybrid should be able to drive on electric power alone up to speed s of 151 km/h.

Ordering worldwide began this past Monday, Porsche claimes that this hybrid will forever change the future of the super sports car.

Rogers Agrees to Pay CRTC settlement

Fri, 25 Mar 2011 12:56:21 -0800

Rogers Communications has agreed to pay $275,000 to post-secondary educational institutions after a Canadian Radio-television and Telecommunications Commission (CRTC) investigation. The CRTC announced Thursday that they had reached a settlement with Rogers over its use of automated calling services.

The CRTC’s mission is to reduce unsolicited calls to Canadians. This investigation found that Rogers used automated calls to inform prepaid mobile customers on how to avoid service interruption. Although Rogers has not admitted fault, they have agreed to no longer place automated calls to customers unless there is prior consent.

"This latest investigation reinforces our commitment to protecting the privacy of consumers and educating businesses about their responsibilities," said Masood Qureshi, the CRTC's Senior Manager of Telemarketing Regulation, in a statement. "We are pleased that Rogers is working to address our concerns and changing its telemarketing practices."

École polytechnique de Montréal will receive $175,000 and British Columbia Institute of Technology will receive $100,000 from the Rogers settlement. Additonally, Toronto based Rogers has agreed to review its compliance policies to ensure observance of CRTC rules relating to automated calling devices.

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The CRTC applies Unsolicited Telecommunications Rules to reduce unwanted calls to Canadians. The CRTC has established enforcement process of discussing corrective actions with telemarketers that may lead to a monetary settlement. Payments are determined by retailers' proportion of their overall share in respective markets.

To date, the CRTC has collected over $1.8 million in penalties and has acquired an additional $740,000 in payments to educational institutions.

Bombardier and Chinese Aircraft Maker Sign Agreement

Thu, 24 Mar 2011 12:56:34 -0800

Bombardier announced Thursday the signing of a framework agreement with the Commercial Aircraft Corporation of China Ltd (COMAC). This deal will establish a long-term strategic cooperation on commercial aircrafts between the two companies.

The collaboration is predicted to elevate both companies and develop mutually beneficial projects. This agreement comes from COMAC and Bombardier’s desire to build on both companies products complimentary nature. This deal will lead toward collaboration on marketing, customer relationship, and customer support strategies to help each company increase overall market share in respective markets.

“COMAC is pleased to work closely with Bombardier to efficiently identify areas of mutual collaboration and explore future endeavours. Both our companies have specific strengths that, when combined, will enhance the competitiveness of our respective aircraft programs and businesses as a whole,” said Mr. Zhang, Chairman of COMAC, in a statement.

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In the future, both companies will also evaluate cooperation possibilities in regards to the C919/CSeries aircraft program.

“This agreement represents another important step in the strengthening of our relationship. We believe that this collaboration will generate positive results for both the C919 and CSeries aircraft programs. It also opens the door to further cooperation on any other projects that would be mutually beneficial,” stated Pierre Beaudoin, President and Chief Executive Officer of Bombardier Inc, in a press release.

COMAC was founded in May of 2008 and is the main organization for implementing the trunk liner program of China. Involved in aircraft integration, COMAC is mainly engaged in the research, manufacturing, and testing of civil aircrafts and related products.

RIM Sets U.S. and Canada Release Date for the PlayBook Tablet

Wed, 23 Mar 2011 01:41:43 -0800

Today RIM revealed that the U.S. and Canada release date for its PlayBook tablet is April 19. This announcement comes after Apple announced its Canada iPad release yesterday. Apple’s iPad 2 will be available in Canadian stores this Friday, March 25 and was released in the U.S. March 11.

The PlayBook tablet offers three models with Wi-Fi: the 16 GB model for $499, the 32 GB model for $599, and the 64 GB model for $699. These prices match the comparable iPad 2 models.

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The RIM tablet computer features a 1GHz dual-core processor, a 7” 1024x600 WSVGA capacitive LCD touch screen and the unique Blackberry Tablet OS. It also includes dual cameras capable of recording full 1080p footage, a unique asset to the tablet industry so far. The PlayBook also has sensors for mapping and gaming including GPS, Accelerometer, Gyroscope and a Digital Compass.

The Blackberry Tablet OS is a new operating system designed especially to coordinate with Blackberry phones. Information such as email and BBM can be transferred wirelessly from a Blackberry phone to the PlayBook. Demonstrations with the tablet shows the OS working quickly with web and media tasks.

A final plus of the RIM PlayBook tablet is its lighter weight of 425 g as compared to the iPad 2’s 601g. The Apple tablet is still thinner at 0.34 inches compared with 0.4 inches for the PlayBook.

So far the iPad has dominated the tablet computer market but only time will tell if new companies such as RIM can woo consumers to embrace other tablets.

BMO Expansion Plan to Include the United States

Tue, 22 Mar 2011 03:42:56 -0800

With a total $2.8 billion net income in 2010, the highest in the history of the bank, BMO announced its plans Tuesday to expand into every region of Canada as well as the Central U.S. Addressing shareholders at BMO’s annual meeting, Bill Downe, President and CEO of BMO, stated that the company will have tremendous opportunities in the year to come.

"We’re pursuing market share growth in every region of Canada," said Downe. “Over the past year, Canadian Personal and Commercial Banking has shown exceptionally strong performance. With 2010 revenues up 10 per cent and record net income for the year, P&C Canada is a market leader and a pacesetter for our entire enterprise. With BMO's P&C Canada business now so well positioned, expanding our home market to include the central U.S. is a natural next step."

An expectation of a major profit jump comes from the acquisition of US based Marshall & Illsley Corporation. "In the medium term, our aspiration is that our U.S. personal & commercial and wealth businesses will generate a billion dollars in earnings annually,” said Downe.

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The expanding network for BMO will make the bank a viable competitor in the financial industry. "We will grow personal and commercial banking through a network that will comprise some 900 BMO branches in Canada and 700 in the U.S. – an enviable footprint that will have a combined North American deposit base of over $160 billion,” continued Downe.

BMO, a bank that delivers a broad range of retail, wealth management, and investment banking services, was established in 1817 as the Bank of Montreal. BMO Financial group currently employs 38,000 and has a total asset amount of $413 billion.

How Can Cloud Computing Help Reduce IT Costs?

Mon, 21 Mar 2011 06:04:31 -0800

Check this article out as it appears in our March Issue of Business Review Canada. Trust us, it's way cooler to read this article when you can flip through our user-friendly e-reader.

How do I increase productivity and innovation? How will I provide access to real-time data and analytics? How can I profitably tackle the volume of web-based data, yet streamline my complex network of internal data center systems? How can my technical staff focus on innovation instead of system maintenance? How can I provide the most efficient infrastructure and services model so my customers can be even more successful?

Cloud computing is the answer. Organizations are turning to large-scale computing clouds and associated services; a market that IDC has pegged to grow by more than 40% over the next three years in Canada.

IBM recently invested $42-million to create the IBM Compute Cloud Centre in Canada. The new Centre will help Canadian organizations reduce costs, increase efficiencies and access new technologies such as analytics and mobile computing. In addition, the Centre will be able to keep data secure and resident within Canadian borders in accordance with Canadian privacy law.

Cloud computing is set to transform how IT is purchased, sourced and delivered over the next decade. It has ushered in a new era of responsive and efficient IT service delivery, effectively addressing the challenges Canadian organizations face in a Web 3.0, real-time information, globally competitive world.

The IBM Compute Cloud Centre will offer a pay-as-you-go service, allowing Canadian government organizations and businesses to develop, host and test applications while paying only for the computational power they use. Customers will have access to virtual servers, selected software and storage capacity on a per-hour basis.

Cloud computing is both a business model and a user experience. It is a service delivery model in which large pools of computer systems are linked together to deliver services over a network. Employees see only the application interface without being concerned about the implementation or infrastructure behind it. Think of buying an item on eBay or sending Internet mail. The cloud computing model is the “big box services store” that provides the secure backbone for both.

Cloud services include not only simple programs and services such as email or instant messaging; they also include complex applications such as customer-relation management, databases and application servers. The cloud computing model allows large corporations to focus on their strategic applications or on only those aspects of IT they wish to operate themselves.

Cloud computing saves energy and operating costs by pooling IT resources, scaling up or down as needed, and putting computer power to use, rather than drawing energy while remaining idle. With a click of a mouse, services can be either expanded or contracted. For example, Info-Tech Research Group has observed that most computer servers run full-time, but are used at only 10 to 20 per cent of capacity.

Companies can use the advanced technologies that cloud computing offers to exchange digital information around the world and across a variety of devices. Consumers are able to quickly tap the strength of the cloud computing model for mobile banking and shopping as the cloud meets the high-performance demands of the dynamic Web, processing massive amounts of information in split seconds.

Organizations concerned about driving higher profitability see cloud computing as a way to do more with fewer resources, while rolling out new applications, meeting peak workloads and saving on real-estate, power and cooling costs associated with traditional technology infrastructure.

Various cloud computing models exist to securely meet the specific needs. Some data may not be permitted to leave an enterprise, or a specific geographic location because of corporate or government regulations. It is essential to evaluate which workloads can be sourced through public clouds and which kept in-house and delivered through private clouds, which remain behind your enterprise firewall. Many companies adopt hybrid approaches which integrate both private and public platforms to meet their specific requirements.

No matter which type of cloud computing platform your organization adopts, it will help drive new ideas, products and services to market faster, while freeing internal resources to continue to innovate to compete in a global, ever-connected world.

There’s no better time to start moving your business to the clouds for a competitive advantage.

Firefox 4 Final Version to be Released Tuesday

Mon, 21 Mar 2011 02:28:50 -0800

Mozilla announced last Wednesday that the final version of Firefox 4 will be released on March 22nd. With a dozen betas already released, the upgrade offers consumers new features, look and speed.

"Today's triage session concluded with all systems go for a Firefox 4 launch on March 22," said Mozilla's senior director of platform engineering, Damon Sciore to his team on a company forum.

Originally set to be released in November 2010, Firefox 4 will ship in 80 languages with an updated interface for all platforms. This restructured browser will be sleeker and easier to use. Firefox 4 gives users a variety of new features. One in particular is the synch feature. Firefox Synch allows you to save settings, passwords, bookmarks, history and open tabs across multiple devices to take Firefox on-the-go.

Mozilla Firefox’s new browser also contains huge performance enhancements. The Firefox 4 browser is six times faster than its predecessors with faster start up times, improved page load speed, and graphics rendering, in which Mozilla promises users will notice a difference instantly.

The updated browser features a new minimalist interface that gives tabs top visual priority for more efficient and intuitive browsing. Tabs are also organizable to allow for less clutter. Firefox Panorama lets users drag and drop tabs into manageable groups to organize, name, and arrange important browsing windows.

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This announcement comes about a week after Microsoft unveiled Internet Explorer 9.

Mozilla Firefox has more than 400 million users worldwide. Firefox 4 will be available for download on March 22nd, around 7 pm.

Rolls Royce invests $225 million to develop gas turbines

Sat, 19 Mar 2011 12:00:00 -0800

Rolls Royce announced today plans to invest $225 million to develop new technologies for the company’s energy business in Canada. Funding provided over the next five years, the investment will be primarily to enhance Rolls Royce product offerings in the oil and gas and energy generation markets.

Rolls Royce’s goal in this project is to provide operational and environmental benefits to customers. The project will develop higher power and lower emission gas turbines, a rotary engine that extracts energy from a flow of combustion gas. An additional $30 million is being contributed by Investissement Quebec’s Strategic Support for Investment Program.

"This investment would not have been possible without the talent, innovation and track record of our Montreal engineering team, combined with the continuing support of our customers, suppliers and government partners,” said Tom Scarinci, Rolls-Royce, Executive Vice President of Engineering and Technology, in a statement.

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The project will take place at Rolls-Royce Canada Limited, a diversified aero engine services and industrial gas turbine facility based in Lachine, Quebec. The plant also serves 600 aircraft operators in 30 countries and is an authorized maintenance center for jet engines.

Rolls Royce, known for its luxury vehicles, is a world-leading provider of power systems and services that are established in a strong position amongst global markets, including civil and defense aerospace, marine and energy. Rolls-Royce’s broad customer base comprises of more than 500 airlines, 4,000 corporate and utility aircraft and helicopter operators, 160 armed forces, 2,500 plus marine customers and energy customers in almost 120 countries.

Microsoft and RIM Pair Up to offer Cloud Services

Fri, 18 Mar 2011 02:05:03 -0800

Research In Motion is offering corporate subscribers the opportunity to transfer back-office work to remotely managed off-site data centres. RIM believes moving data, such as email infrastructure, to the cloud could cut IT costs dramatically.

In a partnership with Microsoft, which recently announced its own cloud services, RIM will offer corporations the ability to house BlackBerry provisions, managing a range of services such as calendar, contacts, video services and more, off –site . Currently corporations must purchase BlackBerry Enterprise Servers to store the data, but with the introduction of the cloud option, companies will be able to take advantage of substantial cost reductions.

"We're embracing it in a big way, and we're going out jointly with Microsoft to all of our customers," said Jim Tobin, senior vice president of RIM's software and business services unit to The Wall Street Journal.

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Microsoft is offering similar services to companies that use its Microsoft Exchange Server. Microsoft Office 365, a cloud computing initiative, will store email, contacts, calendar information and other data in off-site data centres as well.

These data centres will ensure devices are secure. "In our view, the best way to deliver protection is to aggregate security capabilities...into an area where we can provide rigorous security management," said Tobin.

RIM believes that as many as 20-25 per cent of BlackBerry subscribers will begin using cloud services by the end of the year. Blackberry reported last November that its subscriber base encompassed more than 55 million users.

Porsche Banks on Updated Hybrid for Nürburgring Race

Thu, 17 Mar 2011 01:40:18 -0800

Porsche announced today that they intend to compete in the 24 hour Nürburgring race by entering their advanced version of the Porsche 911 GT3 R Hybrid. Improving efficiency, this Porsche hybrid is a lighter weight and expects to match its predecessor with less fuel consumption.

Fairly similar to the 2010 hybrid model, the Porsche 911 achieves approximately 470 hp and has a six-cylinder boxer engine in the rear. This new model has bursts of additional 200 hp at drivers disposal for multiple seconds at a time activated by the throttle pedal. Additionally, drivers can have manual control of this extra power to use when overtaking the competition.

The 2011 hybrid, although built somewhat similar, is clearly distinguishable from the 2010 model. Large louvers in the front of the rear fenders have been removed to reduce drag and lower fuel consumption. The cockpit of the Porsche 911 has also been completely changed. Displays and controls have moved to the steering wheel so that drivers can operate other functions on buttons located on the center console. Ergonomics was an important design attribute when designing the new cockpit.

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"We've collected a great deal of information from our races on the Nürburgring, at the ALMS race at Road Atlanta, as well as from the ILMC race on China's Zhuhai circuit. The data was invaluable for the further development of our racing laboratory," said Hartmut Kristen, head of Porsche motorsport, in an official statement. "The emphasis of our work was on improving efficiency. That means we want to keep the lap times consistent with 2010 but use less energy, hence less fuel. In this way, we support future developments of road-going, sporting hybrid vehicles.”

The Porsche 911 GT3 R Hybrid will compete in Germany at the Nürburgring 24 hour race on June 25, 2011.

Pepsi Reveals New Bottle Made from Plants

Tue, 15 Mar 2011 01:01:41 -0800

Pepsi unveiled today, as part of its new “green” initiative, the innovative PET plant-based bottle. 100 percent recyclable, this bottle is completely made of raw plant materials.

PepsiCo identified new methods to create a molecular structure that is identical to current technology by combining biological and chemical processes. The bottle was developed from bio based materials, including switchgrass, pine barks and corn husks. Pepsi hopes to include in the future its other agricultural business byproducts, such as oat hulls, orange and potato peels.

"This breakthrough innovation is a transformational development for PepsiCo and the beverage industry, and a direct result of our commitment to research and development," said Indra Nooyi, PepsiCo Chairman and CEO, in a statement. "PepsiCo is in a unique position, as one of the world's largest food and beverage businesses, to ultimately source agricultural byproducts from our foods business to manufacture a more environmentally-preferable bottle for our beverages business – a sustainable business model that we believe brings to life the essence of Performance with Purpose."

Production of the new bottle will start in 2012 and, if successful, Pepsi intends to move toward commercialization.

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This new bottle technology is innovative and efficient. Since current plastic PET bottles are petroleum based, the production cost, as oil prices rise, may become more expensive over time. Therefore, corporations incorporating plant-based packaging into production will potentially further reduce their reliance on the fluctuating oil market.

In a press release, Conrad Mackerron the Senior Program Director of As You Sow, a San Francisco-based foundation that promotes corporate social responsibility through shareholder engagement, said, "By reducing reliance on petroleum-based materials and using its own agricultural scraps as feedstock for new bottles, this advancement should deliver a double win for the environment and PepsiCo."

This move comes from Pepsi’s continued goal of making itself leader of environmental sustainability while driving competitive progression throughout the industry. PepsiCo announced in 2010 its commitment to protect the Earth’s natural resources through innovation and efficient use of land, energy, water and packaging.

Go Transit Makes $125 million Purchase from Bombardier

Mon, 14 Mar 2011 01:12:37 -0800

Bombardier Transportation announced today that it has received an order for 50 bilevel railway cars from GO Transit. The order, estimated at approximately $125 million, will expand GO Transit’s passenger capacity to an extra 8,000 commuters a day.

"We are pleased to provide GO Transit with additional BiLevel cars and welcome our customer's renewed confidence in the products we deliver," said Raymond Bachant, the President of Bombardier Transportation, North America in a statement. "We are also proud of our successful customer relationship with GO Transit who operates the largest commuter rail network in Canada.”

The new vehicles will be available for service starting in late 2011 and continuing into early 2012. After this order is fulfilled, GO Transit will have a total of 565 coaches in their bilevel rail car fleet.

"There is a major demand for GO to increase its train services, from both a customer service and ridership perspective," said GO Transit President Gary McNeil in a press release. "We need to add new trains and lengthen our existing trains so more bilevel coaches are required now."

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Bilevel railway cars are the most popular multi-level commuter railway car in North America and have been in service since 1978. Established as a user-friendly railway car with 162 seats, the Bombardier bilevel coach was originally developed in cooperation with GO Transit. This latest order will include the 1,000th bilevel railway car created by Bombardier.

"This is great news for the employees at Bombardier and the economy of Thunder Bay," said Bill Mauro the MPP for Thunder Bay-Atikokan. "This investment continues our government's commitment to mass transit and helps Bombardier remain a major economic catalyst for Thunder Bay and region."

New Gallardo Lamborghini Honors Italy

Sun, 13 Mar 2011 12:00:00 -0800

Lamborghini will officially reveal on March 16th the new Lamborghini Gallardo LP560-4 Tricolore Edition. Honoring the 150 year anniversary of the unification of Italy, the Tricolore Edition features three subtle pinstripes of green, white and red to proudly give tribute the well known Italian flag on its bodywork.

The pinstripes run the length of the car set just off-center over the driver’s side. The stripes are also featured on the driver’s seat to encompass a clean design that should be especially exciting to those who feel two colors are just not enough. Additionally, the special addition has a white exterior with carbon fiber mirrors.

“Lamborghini is a brand of extreme luxury, uncompromising and Italian. To celebrate the 150th anniversary of the unification of Italy it seemed right to propose a flag livery for our most successful model, the Lamborghini Gallardo. With this special Tricolore version of our most successful model, we give a further impulse to the 'Made in Italy' label around the world,” said Stephan Winkelmann the CEO of Lamborghini in an official statement.

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Exact specifications will be detailed on the March 16th, the actual anniversary of the unity of Italy. Since this edition is based on the LP560-4 platform, it is speculated that the Tricolore edition will feature the same 560 horsepower, V-10 and 3.7 second 0-60 mph time and that production will be limited to 150 units.

This announcement follows the debut of the Lamborghini Aventador announced early March at the Geneva Motor Show.

Bank of Canada to Debut Plastic Money

Fri, 11 Mar 2011 02:26:58 -0800

Canadian money will start to feel more plastic-like later this year. Starting with $100 bills, the Bank of Canada—the country’s sole bank note issuing authority, will incorporate plastic into all of Canada’s currency by 2013.

The new circulation will start in November featuring a new $100 bill. The new money will be made with a special plastic polymer that will replace Canadian currency’s current cotton-paper blend. The new $50 note will follow by March 2012 and by 2013 there will be $20, $10, and $5 polymer bills incorporated into Canadian currency.

The new bank notes will focus on security and, most importantly, counterfeiting prevention. "Canada's new bank notes will have innovative security features that are easy to verify," said Mark Carney the Governor of the Bank of Canada in a press release. "The leading-edge technology in these notes will expand the frontiers of bank note security."

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The new currency will not only have enhanced security, but they will also be easier to verify, more economical to produce and have diminished environmental impact. The polymer bills are expected to last at least 2.5 years longer than current currency.

"With these new notes, the Bank of Canada will provide Canadians with a durable, high-quality, secure form of payment that they can use with confidence," continued Carney in a statement.

In preparation, the Bank of Canada is working closely with financial institutions and manufacturers to promote an easy transition. Designs will be released several months before new notes begin in circulation for general public recognition. The $100 and $50 bill designs will be unveiled in Spring 2011.

New Lamborghini Sportscar Makes its Debut at Auto Show

Tue, 01 Mar 2011 12:00:00 -0800

At the Geneva Motor Show yesterday, Lamborghini unveiled the Aventador LP 700-4. With 700 horsepower 12-cylinder engine, this Lamborghini is a super sports car.

The Aventador, named after a bull that was awarded “Trofeo de la Peña La Madroñera” for its courage in Spain in 1993, features a new 6.5-liter engine, carbonfire chassis and unique sporty look. The Aventador’s aircraft-esque familiar design is inspired by the previous Lamborghini Reventon and encompasses upward opening sculpted doors, a jagged nose, low roofline and slanted tail with 3 stage pop-up spoiler.

Lamborghini boasts that the sports car, building on Lamborghini’s fantastic history, will become the next automotive legend.

The car’s statistics speak for themselves. The Aventador can go from 0-100 km/h in 2.9 seconds and reaches a top speed of 352 km/h. The additional transparent engine cover is a great sportscar owner perk.

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“With the Aventador LP 700-4, the future of the super sports car is now part of the present. Its exceptional package of innovative technologies is unique, its performance simply overwhelming. The Aventador is a jump of two generations in terms of design and technology, it’s the result of an entirely new project, but at the same time it’s a direct and consistent continuation of Lamborghini’s brand values,” said Stephan Winkelmann, President and CEO of Automobili Lamborghini. “It is extreme in its design and its performance, uncompromising in its standards and technology, and unmistakably Italian in its style and perfection. Overall, the dynamics and technical excellence of the Aventador LP 700-4 makes it unrivalled in the worldwide super sports car arena.”

Customers should expect the Lamborghini Aventador to be available by summer 2011.

CCEMC Awards 27.2 Million toward Reducing Emissions

Tue, 01 Mar 2011 01:20:45 -0800

The Climate Change and Emissions Management Corporation (CCEMC) announced funding for six new industrial efficiency projects. Located throughout Alberta, the six corporations will split 27.2 million on projects to reduce industrial emissions and greenhouse gasses.

"Supporting industry's efforts to improve energy efficiency is key to reducing greenhouse gas emissions in Alberta," said CCEMC Chair Eric Newell. "These projects are important both because of the impact they have on reducing emissions and because of the significant financial contribution that is being made by industry leaders province-wide."

The CCEMC is a non profit organization that’s mission is to provide funding for initiatives that reduce greenhouse gas emissions and support adaptation.

"For Albertans, today's announcement demonstrates that the CCEMC, industry and government are continuing to reduce emissions and helping this province become a leader in clean technology,” continued Newell.

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Energy powerhouses located in Alberta such as ConocoPhillips Canada, Weyerhaeuser Canada Limited, and Cenovus Energy Inc are among those awarded. Funds distributed to each corporation’s energy efficiency projects vary from 2.2 -7 million. These company efforts are estimated to reduce 3. 2 megatonnes of greenhouse gasses over the next 10 years. This greenhouse gas reduction is comparable to removing 64,000 cars off of the road throughout the decade.

Because of other investors contributing on average $4.93 per dollar awarded from CCEMC, this investment has a predicted to lead to a $161.4 million contribution. The CCEMC gets its funding from Alberta government grants with the ability to invest in projects or initiatives that result in energy efficiency for the province.

Toyota Recalls 147,000 Cars in Canada

Fri, 25 Feb 2011 12:00:00 -0800

Addressing a floor mat interference issue, Toyota announced yesterday that they are recalling 147,000 cars in Canada. Issues dealing with accelerator pads becoming entrapped in drivers-side carpeting are what caused the recall.

Stemming back to 2009, Toyota has now recalled 14 million cars globally to fix the gas pedal safety issue. When the floor mat is not properly replaced after a service operation the acceleration pedal can become temporarily stuck resulting in unintended acceleration. This has been deemed by US regulators earlier this month as the real issue, and not Toyota’s electronics, that is behind the reports of Toyota cars sudden unintentional acceleration.

Quite a few car models have made it onto the recall list including thousands of 2006-2007 GS 300 and GS 350 models, 2006-2007 RX 350 and RX 400h models and 2006 Highlander and Highlander RV models. This group of car's acceleration issues comes from improperly installed carpet clips. Without the clip, the floor mat leans forward and interferes with the gas pedal. Owners can expect an official letter starting in March.

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Additionally three models have been added to the previous 2009 pedal entrapment recall. The Japanese automaker’s recall list now includes thousands of 2003-2009 4Runners, 2008-2011 Lexus LX 570s and 2006-2010 Rav4s. Owners of these cars should expect to receive a Toyota announcement about the recall by mail fairly soon.

To fix these issues, Toyota and Lexus car dealers will implement recall remedies with no additional charge to vehicle owners.

Toyota states that is unaware of any accidents or injuries that are related to any of the risks mentioned in their newly announced voluntary recalls.

Ontario Approves 40 New Green Energy Projects

Thu, 24 Feb 2011 02:22:16 -0800

One of the biggest investments of its kind for the province, the Ontario government has approved 40 new, large renewable energy projects. These energy contracts will cover 31 communities in the region, create 7,000 new jobs and attract $3 billion in private sector investment.

Representing enough energy to power 200,000 homes, these renewable energy projects, including solar, water and wind energy, will create more than 872 megawatts of clean, renewable power.

This move amplifies Ontario’s clean energy plan that switches away from smog producing coal to cleaner energy sources. These contracts will promote the Ontario Power Authority’s Feed-In Tariff program goal of closing all of Ontario’s coal-fired generators by 2014 and encouraging more renewable energy to be developed in Ontario.

"More and more clean energy businesses are investing in Ontario and creating jobs. These projects create good jobs, power our homes and businesses, hospitals and schools, while cleaning up the air we breathe,” said Brad Duguid, Minister of Energy in a government statement.

The Ontario government hopes that these contracts will spark new industry and raise the province toward becoming a global green energy leader. The addition of these projects are also hoped to continue the creation of new jobs while strengthening the economy.

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This announcement comes amid opposition criticism from recent alternative energy missteps. Catering to angry citizens worried about their view, the Ontario government recently stopped development of off-shore wind turbines. Another energy issue dealt with farms solar panel contracts, in which the government failed to provide transmission capacity for 1,000 of the projects.