That buzzing and crackling sound audible earlier this week was the rumor mill churning full tilt at the prospect of London Hydro and St. Thomas Energy uniting in utility bliss.
Mum’s the word from the potential partners, however the picture may come into better focus following a special in-camera meeting Tuesday where St. Thomas council – sole shareholders of parent company Ascent Group – will be briefed on the findings of Grant Thornton, the financial consultants hired by the city to explore merger partners.
Their suitor search has been completed, advised Ascent Group board chairman John Laverty on Tuesday, and they “are in the middle of putting together a summary that is to be presented to the Ascent Group board and city council.” Continue reading
Considered the poor cousin of enclosed shopping malls by its previous owner OneREIT, Elgin Mall has wonderful potential according to the small, family owned real estate investment company that acquired the 263,000-square-foot property last month.
Brothers Jay and Mory Burstein are adamant their intention is not to demolish the retail centre that first opened in 1975.
“Our goal is to try and lease the vacant space as quickly as possible and try to make this mall the vibrant place it once was,” Jay assured in an interview this week.
An optimistic game plan for a mall that is operating at a roughly 50 per cent vacancy rate. Continue reading
In a lengthy interview on Paul Collins‘ penultimate day as president and CEO at St. Thomas Elgin General Hospital, he dwelt on the Great
Expansion, the facility’s designation as a regional stroke centre and a greater role for STEGH as a regional player.
We’ll pick up this week with the suggestion the health care model in this province is broken.
“I don’t think the system is broken,” asserted Collins. “But I think there are some elements of the system we need to be paying attention to. How does the aging population affect this hospital. We talk about alternate levels of care. These are folks who come to the hospital because they need care, but then when it’s time to be discharged, the question where is the safest place for them to be discharged to – long-term care, in their own home or a nursing home? Continue reading
On his penultimate day as president and CEO of St. Thomas Elgin General Hospital, Paul Collins reflected on a career that dates back to 1989, the last 15 years at the helm.
With construction crews clearly visible out the office window and Collins enjoying his final week bidding farewell to administration and staff, we asked him what was going through his mind as he drove in Thursday morning past the hustle and bustle of the Great Expansion.
Surely he must be swirling in a mix-master of emotions.
“Relief,” was the short, single-word answer.
Sensing my puzzlement he continued. Continue reading
It’s a much anticipated document and it can be found in the agenda for Monday night’s city council meeting.
We are referring to the city’s consolidated financial statements for 2015 which include details of its investment in Ascent Group Inc.
Not sure whether it is meant to offer reassurance to ratepayers, however that portion of the document opens with “The city owns 100% of Ascent Group Inc. which in turn owns 100% of St. Thomas Energy Inc., Ascent Energy Services Inc., Ascent Solutions Inc., Ascent Utility Services Inc., and Ascent Renewables.
Once you digest the Ascent Group financial statement we, as ratepayers, would be better off owning a fleet of wheezing Russian Ladas.
If you thought the 2014 Ascent picture was grim, hold on. Continue reading