Looks like Toronto’s next batch of streetcars will be made by Bombardier. The Canadian company is a shoo-in to win the $1.25 billion contract after German manufacturer Siemens pulled out of the bidding, leaving only a small British company and that guy down the street with the junked car on his lawn as competition.
The TSX dropped a dramatic 433 points yesterday on fears that recession will reduce demand for commodities like the oil for which we’re currently turning northern Alberta into a toxic wasteland. The price of oil hit a new high of over $144 a barrel anyway.
Econ 101: With fuel prices so high, driving big trucks isn’t so fun anymore, and 2,000 more workers get laid off from an auto parts company in the Toronto area. Don’t say Torontoist never taught you anything.
Ontario casinos want to introduce sports betting as a way of luring back customers from the US. It’ll also give all those unemployed workers a great new way to pass the time and pump their pogey cheques into the provincial tax coffers.
And Mats Sundin looks like he wants to stay in Toronto, in spite of being offered $20 million over two years by the Vancouver Canucks. Canucks management has said that if they can’t get Sundin, they’ll consider hiring 200 auto workers instead.
Photo by Gabi from the Torontoist Flickr Pool.