What the federal election means to B.C.

Plus, selling logs to China and launching Cactus Club in Toronto

Western wave
The federal Liberals are back in B.C., winning 17 seats, one more than in 1968 under Pierre Trudeau. Potential cabinet ministers from B.C. include Jody Raybould-Wilson, former regional chief of the B.C. Assembly of First Nations, Harjit Sajjan, a former police officer and Canada’s first Sikh commanding officer in the Armed Forces, Jonathan Wilkinson, green technology businessman, Pam Goldsmith-Jones, former mayor of West Vancouver, and veterans Hedy Fry, Liberal health critic; and Joyce Murray, Liberal critic for National Defence and Western Economic Diversification.

Although Canada’s dollar rose 0.1 per cent to 76.88 US cents this morning, business reaction has been muted. A key plank in the Liberal platform was spending to update infrastructure including roads and transportation to benefit businesses and create jobs. The Liberals oppose Northern Gateway and increased tanker traffic off B.C.’s coast and want a more rigorous pipeline approval process but their commitment to work respectfully with First Nations could clear other resource logjams. (via CBC)

Logging off
After increasing substantially from 2010 to 2014, B.C. log exports to Asia has dropped during the half of 2015. Since last summer, shipments to China decreased 45 per cent to their lowest levels since early 2012, a result of a low demand for wood in China, combined with its high log inventories. Sawlog prices fell again in the 2Q/15 in most of the 19 regions worldwide that are part of the Global Sawlog Price Index (GSPI). The good news is that the B.C. Interior was one of only two regions (the other is Northwest Russian) where sawlog prices increased in the second quarter of 2015. (via Woodbusiness)

Moving east
Cactus Club’s long-awaited flagship Toronto restaurant is finally nearing completion, “gearing up to open its doors in Toronto by the end of October,” according to a release.The 500-seat, three-floor space will be the 28th Cactus Club restaurant in 27 years of business, and the first in Ontario. Speaking at the BCBusiness Top 100 luncheon last summer, Cactus Club founder Richard Jaffray said he plans to open up to 60 restaurants across the country with a minimum of 20 restaurants in Ontario.