The AP video here is a summary of the surface events in the Barclays scandal. To understand the scandal we recommend the linked story from the Telegraph newspaper at the bottom of this post. The issue, and it requires a study, is about how banks are manipulating the London Inter Bank Offered Rate (LIBOR) improperly to their advantage. The Telegraph story sheds a lot of light. Telegraph.co.uk
Toronto isn’t Manhattan or Hong Kong
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The concern that downtown Toronto’s high-rise condo frenzy will lead to something called Manhattanization is explored in the linked CBC.ca story. It’s thought provoking but the bald prediction that this trend will change family housing dreams may be a bit over-stated. There’s nothing that says people must buy those glass boxes in the sky. Toronto has much more real estate than either Manhattan or Hong Kong. Those who want to live in a home with a garden (like you fortunate denizens of South Bayview and environs) will still be able to find one, even if it’s at a bit of a distance from Central Toronto. It’s true that the stock of single family homes south of Lawrence or York Mills is fixed. But that has been true for a long time. Demand for those units has been intense for many decades. CBC.ca
TSX up 250 points at noon Tuesday
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It isn’t often that the TSX is up 250 points at noon. It would be better if the index hit that mark at 3.45 p.m. but either way the explanation for this optimism is typically vague. Maybe the Europeans will lower interest rates, maybe they’ll buy commodities. Joy, joy! Until tomorrow perhaps, when an equally flimsy rationale will produce a fit of depression and despair. Check for yourself.
Super big table linen sale at Homefront
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They’re overstocked in the linen department at Homefront. As a result, they are having a rare sale on table linens. Many of the fabrics are no-iron and sizes go as large as a 168 inches in length. Discounts range from 30% to 70% off. The only exception is our Flax Poly Custom Program. Every table is different. So before you come in please measure the length and width of your table. Decide how much of the cloth you want to overhang at the end. Most people like a foot (12 inches) but shorter or longer is okay too. This is a wonderful opportunity to fill in the gaps in your table linens so you are ready for the holidays in the Fall. (416) 488-3189) — Trish Stuebing
Thinking (and thinking) about holiday openings
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In one brief evening of doing God’s work, City Council made plastic bags illegal in Toronto. For the public, there was no blip on the radar that this was coming and no one asked us what it thought. Whatever you feel about plastic bags, compare that summary execution to the ponderous course the City has travelled on the subject of holiday openings. Before the last election two years ago, City staff told Council that Toronto really had to get with it and permit shopping on statutory holidays like today. Even the Executive Committee voted in favour of it. But Councillors just couldn’t summon up the courage to take a vote. After the election, the City organized a huge public opinion poll. It’s still going on. Recently flyers were delivered to announce a large series of public meetings. Meantime, stores like Staples and other big chains are open today. The Eaton Centre and heaven knows how many other malls are open. The theatres are open and so are the bars and the restaurants. There’s something about this issue that terrifies your average Councillor.
Last night’s fireworks from brenda043
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She calls herself brend043 and she did a great job of shooting the fireworks last night.
Northern Secondary loves rocking O Canada
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Kids at Northern Secondary School on Mt. Pleasant Road at Broadway Ave. are among thousands across the country who enjoy a rock version of O Canada as part of morning exercises. The principal at Northern, Ron Felsen, received a copy of the upbeat national anthem from the band Daylight for Deadeyes and liked it immediately. Mr Felsen is quoted in the Toronto Star today as saying “I get a lot of unsolicited. . . mail. I don’t normally respond to these things but it said ‘free O Canada’ and I was looking for some variety in our recorded versions of O Canada. They (the band) sent it to me and I listened to it and it was different. For a teenager at 8:50 in the morning when we play O Canada, I certainly thought it would wake them up,” Felsen said, with a laugh. “Now it’s part of our regular cycle. I wasn’t quite sure about the staff’s reaction but no-one has come in with any negative comments. I’ve had positive comments from a lot of the kids,” Felsen added. Toronto Star
East York, Chinese Canadian Parades
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In addition to the Pride Parade closures (noted in post below) be aware of East York’s 55th annual Canada Day Parade motorcade beginning at 9:30 a.m. July 1, 2012 at the East York Town Centre, 45 Overlea Blvd. The motorcade will make its way to Dieppe Park, where the marching bands will start at 10 a.m. The motorcade parade is scheduled to finish at noon at Stan Wadlow Park, 888 Cosburn Ave. Canada Day celebrations at Stan Wadlow Park will begin at 11 a.m. and finish at 11 p.m. Residents will be able to enjoy bingo, live entertainment and a display of antique cars. The Kiwanis Pool will be open from noon to 7 p.m. The fireworks display will start at 10:15 p.m. and the park will close at 11 p.m. Admission is free. The National Congress of Chinese Canadians will hold their colourful annual march downtown along a route that winds through most parts of the Chinese district. The parade will proceed along King St W, University Avenue, Dundas West and Spadina. It will go along Front West to Blue Jays Way and the Canadian Pacific Railway Workers Monument.
OCAD students create concept for Glebe Manor Square East
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Students impressions
These enjoyable concept pictures are contained in a blog called Spacing Toronto which showcases the conceptual work of students from the Ontario College of Art and Design (OCAD). These pictures show how the students see the Belsize Drive treasure called Glebe Manor Square East. As we know, there is a Glebe Manor Square West, but the kids focused on a vision for the east one. Their concept includes a charming stone path along the present path worn through the grass, a play fountain, green space, and a small “town square” stage at the west end down by Harwood Road. Many thanks to reader Rudy L. for sending us this interesting story.
Historic 33 Heather Road for sale
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The historic 1902 home of James Lea, a grandson of Leaside’s founder, is for sale at 33 Heather Road. The home has been renovated in recent years but retains its gracious appearance from the original building.
Order of Canada for celebrated Canadians
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Hometown favorite Pat Quinn is one of 66 Canadian appointed to the Order of Canada yesterday. Also honoured were long-time CTV Ottawa reporter Craig Oliver, CBC commentator Chantal Hebert and former Alberta Premier Ralph Klein. Other new recipients of the Order of Canada include Victoria geologist Paul Hoffman, Surrey theoretical physicist Gordon Semenoff, Vancouver composer Stephen Chatman and former Supreme Court justice Ian Binnie Toronto Star
Tilt! Foundation work goes very wrong
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What is reported to have been an attempt to underpin the foundation of a west end home has gone very wrong. The house took a tilt to the right as workers burrowed under the foundation on Wednesday. The home at 63 Maria Street in the Junction area was declared unstable and condemned by city officials. It was torn down today. The CBC says the home was bought in May 2011 for $555,063, with a mortgage of $440,000. Underpinning the foundation is a fairly common renovation technique used to give more headroom in the basement. CBC story. See video.