|
Nu-West
Nu-West Group Ltd. was a Canadian growth-oriented house building company that grew into an internationally diversified conglomerate. In 1957 Nu-West Homes was a small, privately owned, house-building company operating in Calgary, Alberta. In 1969, Nu-West Homes Ltd. became a publicly traded company and was listed on the Toronto Stock Exchange. By 1981 Nu-West Group Ltd. had become the largest house-building company in Canada, with diversified asset holdings of $1.9 billion, and over 3,700 employees. The company was heavily leveraged with debt used to purchase vast holding of real estate throughout Canada and the United States. This debt, combined with the recession of the early 1980s that saw land values tumble, resulted in Nu-West losing it place of dominance in the industry. Beginnings Ralph Scurfield, Nu-West's president from 1957 until his death in 1985, worked long hard hours to build up the near bankrupt house building company into a multibillion-dollar business. Scurfiel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ralph Thomas Scurfield
Ralph Thomas Scurfield B.Sc (January 7, 1928 – February 18, 1985) was a Canadian businessman. He was the President and Chief Executive Officer of Nu-West Group Limited (1957–1985), and was an original owner of the Calgary Flames. On February 18, 1985, he was killed in an avalanche while heli-skiing on Mount Duffy in the Bugaboo Mountains, near Blue River, British Columbia. Biography Scurfield was a Canadian businessman who founded one of North America’s largest home building companies, Nu-West Group Limited.Susan Goldenberg, Men Of Property: The Canadian Developers Who Are Buying America (Toronto: Personal Publishers, 1981) Chapter 4. In 1957, Scurfield took control of Nu-West Homes, a small, privately owned, house-building company operating in Calgary, Alberta. In 1969, Nu-West Homes Ltd. became a publicly traded company and was listed on the Toronto Stock Exchange. By 1981 Nu-West Group Ltd. had become the largest house-building company in Canada, with diversified as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not ( unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Building
A building, or edifice, is an enclosed structure with a roof and walls standing more or less permanently in one place, such as a house or factory (although there's also portable buildings). Buildings come in a variety of sizes, shapes, and functions, and have been adapted throughout history for a wide number of factors, from building materials available, to weather conditions, land prices, ground conditions, specific uses, prestige, and aesthetic reasons. To better understand the term ''building'' compare the list of nonbuilding structures. Buildings serve several societal needs – primarily as shelter from weather, security, living space, privacy, to store belongings, and to comfortably live and work. A building as a shelter represents a physical division of the human habitat (a place of comfort and safety) and the ''outside'' (a place that at times may be harsh and harmful). Ever since the first cave paintings, buildings have also become objects or canvasses of much art ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mortgage Loan
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any purpose while putting a lien on the property being mortgaged. The loan is " secured" on the borrower's property through a process known as mortgage origination. This means that a legal mechanism is put into place which allows the lender to take possession and sell the secured property (" foreclosure" or " repossession") to pay off the loan in the event the borrower defaults on the loan or otherwise fails to abide by its terms. The word ''mortgage'' is derived from a Law French term used in Britain in the Middle Ages meaning "death pledge" and refers to the pledge ending (dying) when either the obligation is fulfilled or the property is taken through foreclosure. A mortgage can also be described as "a borrower giving consideration in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan Guarantee
A loan guarantee, in finance, is a promise by one party (the guarantor) to assume the debt obligation of a borrower if that borrower defaults. A guarantee can be limited or unlimited, making the guarantor liable for only a portion or all of the debt. Private loan guarantees There are two main types: # Guarantor mortgages # Unsecured guarantor loan Guarantor mortgages Popular with young borrowers who do not have a large deposit saved and need to borrow up to 100% of the property value to purchase a property. Generally, their parents will provide a guarantee to the lender to cover any shortfall in the event of default. There are three main types # Guarantor Mortgage – generally, a parent or close family member will guarantee the mortgage debt and will cover the repayment obligations should the borrower default. # Family offset mortgage – typically, a parent or grandparent will put their savings into an account linked to the borrower’s mortgage. They do not get any intere ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Canada Mortgage And Housing Corporation
Canada Mortgage and Housing Corporation (CMHC) (french: Société canadienne d'hypothèques et de logement) (SCHL) is Canada's national housing agency, and state-owned mortgage insurer. It was originally established after World War II, to help returning war veterans find housing, and is a wholly-owned Crown Corporation of the Government of Canada. Since then, it has seen its mandate expand to the mandate of improving access to housing, including owned and rental. About The CMHC operates with a primary mandate of providing mortgage liquidity, assist in establishing affordable housing development, and provide arms-length advice to the Government of Canada, and housing industry. Despite the claim of independence, the Crown Corp acts as Canada's national housing agency. As such, it administers Federal housing programs such as the First-time home buyer loan, acts as a mortgage insurer (primarily for high-leverage loans), and provides housing research. The agency's governance is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Warranty
In contract law, a warranty is a promise which is not a condition of the contract or an innominate term: (1) it is a term "not going to the root of the contract",Hogg M. (2011). ''Promises and Contract Law: Comparative Perspectives''p. 48 Cambridge University Press. and (2) which only entitles the innocent party to damages if it is breached: i.e. the warranty is not true or the defaulting party does not perform the contract in accordance with the terms of the warranty. A warranty is not a guarantee. It is a mere promise. It may be enforced if it is breached by an award for the legal remedy of damages. A warranty is a term of a contract. Depending on the terms of the contract, a product warranty may cover a product such that a manufacturer provides a warranty to a consumer with which the manufacturer has no direct contractual relationship. A warranty may be express or implied. An express warranty is expressly stated (typically, written); whether or not a term will be implied i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bookkeeping
Bookkeeping is the recording of financial transactions, and is part of the process of accounting in business and other organizations. It involves preparing source documents for all transactions, operations, and other events of a business. Transactions include purchases, sales, receipts and payments by an individual person or an organization/corporation. There are several standard methods of bookkeeping, including the single-entry and double-entry bookkeeping systems. While these may be viewed as "real" bookkeeping, any process for recording financial transactions is a bookkeeping process. The person in an organisation who is employed to perform bookkeeping functions is usually called the bookkeeper (or book-keeper). They usually write the '' daybooks'' (which contain records of sales, purchases, receipts, and payments), and document each financial transaction, whether cash or credit, into the correct daybook—that is, petty cash book, suppliers ledger, customer ledger, etc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Immigration
Immigration is the international movement of people to a destination country of which they are not natives or where they do not possess citizenship in order to settle as permanent residents or naturalized citizens. Commuters, tourists, and other short-term stays in a destination country do not fall under the definition of immigration or migration; seasonal labour immigration is sometimes included, however. As for economic effects, research suggests that migration is beneficial both to the receiving and sending countries. Research, with few exceptions, finds that immigration on average has positive economic effects on the native population, but is mixed as to whether low-skilled immigration adversely affects low-skilled natives. Studies show that the elimination of barriers to migration would have profound effects on world GDP, with estimates of gains ranging between 67 and 147 percent for the scenarios in which 37 to 53 percent of the developing countries' workers migrat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dutch People
The Dutch ( Dutch: ) are an ethnic group and nation native to the Netherlands. They share a common history and culture and speak the Dutch language. Dutch people and their descendants are found in migrant communities worldwide, notably in Aruba, Suriname, Guyana, Curaçao, Argentina, Brazil, Canada,Based on Statistics Canada, Canada 2001 Censusbr>Linkto Canadian statistics. Australia, South Africa, New Zealand and the United States.According tFactfinder.census.gov The Low Countries were situated around the border of France and the Holy Roman Empire, forming a part of their respective peripheries and the various territories of which they consisted had become virtually autonomous by the 13th century. Under the Habsburgs, the Netherlands were organised into a single administrative unit, and in the 16th and 17th centuries the Northern Netherlands gained independence from Spain as the Dutch Republic. The high degree of urbanization characteristic of Dutch society was attained at a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Loan
In finance, a loan is the lending of money by one or more individuals, organizations, or other entities to other individuals, organizations, etc. The recipient (i.e., the borrower) incurs a debt and is usually liable to pay interest on that debt until it is repaid as well as to repay the principal amount borrowed. The document evidencing the debt (e.g., a promissory note) will normally specify, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and the date of repayment. A loan entails the reallocation of the subject asset(s) for a period of time, between the lender and the borrower. The interest provides an incentive for the lender to engage in the loan. In a legal loan, each of these obligations and restrictions is enforced by contract, which can also place the borrower under additional restrictions known as loan covenants. Although this article focuses on monetary loans, in practice, any material object might be lent. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Down Payment
Down payment (also called a deposit in British English), is an initial up-front partial payment for the purchase of expensive items/services such as a car or a house. It is usually paid in cash or equivalent at the time of finalizing the transaction. A loan of some sort is then required to finance the remainder of the payment. The main purposes of a down payment is to ensure that the lending institution has enough capital to create money for a loan in fractional reserve banking systems and to recover some of the balance due on the loan in the event that the borrower defaults. In real estate, the asset is used as collateral in order to secure the loan against default. If the borrower fails to repay the loan, the lender is legally entitled to sell the asset and retain enough of the proceeds to repay the remaining balance on the loan, including fees and interest added. A down payment, in this case, reduces the lender's risk to less than the value of the collateral, making it more like ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
