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23 March 2009

3 March was the 3rd day of the ninth month of the 3rd year of Canadian national consciousness rising to invincibility.

3 March 2009

Dr William Overall, National Director of the Global Country of World Peace in Canada, presented highlights of news reports reflecting Canada's rising invincibility from Yogic Flying groups across Canada and the large Invincible America Assembly at Maharishi University of Management and Maharishi Vedic City, USA.

Extensive scientific research has documented the Maharishi Effect of rising coherence, harmony, and peace created in the collective consciousness of a nation by large groups of Yogic Flyers. The effect has been found to extend beyond national borders when the group is of sufficient size.

Following are press reports featured in Dr Overall's presentation:

Bloomberg News - Scotiabank, Bank of Montreal profits top estimates (3 March 2009) Bank of Nova Scotia and Bank of Montreal, the last of Canada's six-largest lenders to release first-quarter results, reported profits that beat analysts' estimates. The two banks join the four other biggest Canadian lenders that last week reported profit that beat estimates.

From a Canadian Press report on this: 'We expect the [Canadian] economy to turn up later this year,' Bank of Montreal chief executive Bill Downe said.

From other Canadian Press reports on this: 'We are managing well through this downturn, with a good level of quality earnings,' Bank of Nova Scotia chief executive Rick Waugh said. 'The banking sector in Canada is still in good shape - some say the best in the world.' Overall the six biggest banks - Royal, Scotiabank, TD Bank, CIBC, Bank of Montreal and National Bank - earned nearly C$3.1 billion for the quarter, up from C$2.1 billion a year earlier.

The Halifax Chronicle Herald - Times tough but Scotiabank CEO confident about future (3 March 2009) Rick Waugh, Bank of Nova Scotia CEO, said despite the economic gloom, he can see light at the end of the tunnel for the financial system. One of the early signs of improvement was the recent ability of the Canadian financial institutions to raise C$10 billion on the capital markets, he said. The Canadian banks were the only financial institutions in the world to accomplish that without the help of government guarantees or subsidies.

The Canadian Press on Bank of Canada cuts rate again, predicting cumulative effect (3 March 2009) The Bank of Canada cut the trend-setting overnight rate to an all-time low of 0.5 per cent Tuesday and Canada's commercial banks quickly followed, cutting their prime rate by half a percentage point.

From a Toronto Star report on this: The Bank's cut today brings the cumulative easing to 400 basis points since December 2007. The positive effect of the reduced interest rates - plus the impact of economic stimulus packages by governments in Canada, the United States, and elsewhere—will begin to be felt in the second half of this year and 'will build through 2010'—the Bank of Canada said.

The Financial Post - Wealthy Canadians find 'meaning' before spending (3 March 2009) Although it comes in the midst of the current financial crisis, American Express, in a study it released Tuesday, said a trend has been building for years now, as affluent Canadians have begun asking themselves 'What is really important to me?' The answer is life-enhancing experiences. 'Acquiring knowledge and a greater depth of appreciation for the luxuries their wealth can afford them is more meaningful than merely acquiring possessions,' said Trevor Van Nest, a vice president at American Express Canada. 'The affluent are still willing to spend on things that are meaningful to them and will somehow make their lives better. It's about enriching their lives, not simply being rich.'

The Globe and Mail - Teflon T.O. skirts worst - for now (3 March 2009) The developers of the 66-storey Shangri-La condominium in Toronto bought an ad in January to proclaim their acquisition of a C$408-million loan to build the structure, which they are now doing. But the Shangri-La is only one of several large developments actively under construction in downtown Toronto. Just as surprisingly, applications to build more continue to flood into city hall. 'I believe that Toronto is in the best shape of any city in North America,' said developer Stephen Diamond, who has been involved in both the Shangri-La and the 55-storey Four Seasons project in Yorkville, which also began construction in the downturn. 'Buyers are closing, projects are going ahead and there are still people buying units. 'We're certainly suffering,' he added, 'but it's like there's this bubble over the city.' As of now, One Bloor East, the super-tall apartment building that incited a buying frenzy when it was proposed during the boom, is a go. So are two similar projects by its developer Bazis International, currently under construction on Bloor West. And last week, Bazis submitted an application to build another one across from the Royal Ontario Museum.

The Toronto Star - Tesla electric sports car coming to Canada (3 March 2009) California electric-car upstart Tesla Motors said it has started taking orders for its Tesla Roadster from Canadian customers. There's no shortage of interested buyers for the emission-free sports car, said company spokeswoman Rachel Konrad. 'We have a huge number of people from Canada asking to be first in line,' said Konrad. They'll have to pay somewhere around $120,000 (U.S.). In return, they'll get the first highway-capable electric car produced and sold in North America. The Roadster, which competes directly with Porsche and Ferrari, can travel from zero to 100 kilometres per hour in four seconds. High-profile customers to date include Canadian billionaire Jeff Skoll. Canadians will initially have to take delivery in the U.S., but Tesla said it plans to open facilities in Ontario, Quebec, and British Columbia. It said Canada is an ideal place for electric vehicles because the majority of electricity generation comes from emission-free sources, particularly in the provinces being targeted. A Roadster recharged from the current Canadian grid through a standard household outlet, on average, would have 85 per cent fewer greenhouse-gas emissions than an equivalent gasoline-powered vehicle. That number climbs to 98 per cent in Quebec, B.C., and Manitoba where hydroelectricity is the dominant form of generation. 'Canada is the poster child for the electric vehicle,' said Konrad.

The Financial Post - Two Aboriginal-themed mining funds launched (3 March 2009) Call them 'ethical' mining funds. A Canadian asset manager announced the launch of two Aboriginal-themed mining funds on Tuesday that hope to raise C$1-billion each, in a very innovative effort to get Aboriginal communities invested directly in the mining sector. Vancouver-based RCI Capital Group, which manages C$1.6-billion of immigrant investor capital, announced the launch of the funds at the Prospectors and Developers Association of Canada (PDAC) conference. One is the Canadian Resources Opportunities Fund, which will focus on mining companies and development projects in Canada that emphasize Aboriginal participation. The other fund is principal protected. They are probably the first mining-focused investments that have any kind of ethical mandate, as their goal, besides making money, is to drive economic activity in Aboriginal communities and give them an opportunity to get seriously invested in their own projects. 'Getting aboriginal assets going can create more wealth than almost anything else Canada can do,' said Calvin Helin, an aboriginal affairs expert who launched the funds alongside RCI president John Park.

The Globe and Mai - Great Bear a critical carbon sink, study finds (3 March 2009) The Great Bear Rainforest, a vast tract of old-growth trees on the Central Coast of British Columbia, is playing a key role in combatting climate change, says a new report by three environmental groups. The Great Bear Rainforest is one of the largest intact tracts of temperate rain forest left in the world. A study funded by ForestEthics, Greenpeace and Sierra Club BC concludes that the six-million-hectare forest—which the government has promised to manage under a special logging plan—is storing massive amounts of carbon dioxide. If the area were subject to standard logging, states the report by Rachel Holt, an independent biologist, an estimated 153 million tonnes of CO2 would be released into the atmosphere. 'This translates into three times what the province emits annually from the use of fossil fuels . . . or the emissions of 28 million cars on the road for a year,' Dr Holt says in the study. In 2006, the British Columbia government announced that about two million hectares of the forest would be exempted from logging, with the remaining four million hectares subject to logging under a special 'ecosystem-based management' (EBM) plan that would use a new, lighter-touch form of forestry. The study states that under EBM logging, enough of the forest will stay untouched that an estimated 108 million tonnes of CO2 will remain stored in the standing trees.

The Toronto Star - Muslims want help to adapt to life in Canada (3 March 2009) Farhad Khadim, a project manager with the city of Toronto, helped set up the Islamic Institute of Toronto as a place to help children find a way to interpret their faith in a Canadian context. The Islamic Institute often brings in speakers to encourage discussions. 'The level of discourse is continually increasing,' says Khadim. In addition, the mosque set up an all-Muslim Scouts Canada troop for boys and girls. Meanwhile, a Canadian study was released on the Muslim diaspora in Canada, the U.S., and Britain for the Montreal-based Institute for Research on Public Policy. Karim Karim, the study's author and director of the journalism program at Carleton University, used surveys and focus groups to gauge how Muslims, predominantly immigrants, are adapting to Western life. He found that most Muslims want leaders who will help them bridge the gap between their old cultures and their new homes. Karim says non-Muslims should take heart that their Islamic neighbours want to adapt their lives to the realities of the West but want to find a way to do that without giving up their faith. 'They want to be good Muslims and they want to be good Canadians.'

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