2009 -  The
Credit Crunch
In late 2008, there were reports
in the American media that a number of low-interest mortgages were coming due
and would have to be renewed at higher rates. Many American homeowners couldn't
afford the higher rates and defaulted on their mortgage.
At first, it sounded like the problem was confined to
American homeowners and mortgages. However, it soon became apparent that the
issue was more widespread and eventually led to the collapse of a number of
American financial institutions and the government bailout of other companies
that were thought, at one time, to be on a solid footing. Reports came out that
these financial institutions packaged and re-packaged good assets with so-called
'toxic assets' making it difficult, if not impossible, for financial
institutions to accurately establish their value. With such uncertainty in the
market, stock markets plunged worldwide. Many in the media were calling this the
worst financial crisis since the Great Depression.
The price of oil fell. The price of natural gas fell. And
this affected the Alberta economy. For the last number of years, the Alberta
economy had been the strongest in the country with record budget surpluses and a
massive net increase in population because of the plentiful jobs.
That changed in late
2008 and early 2009. Almost overnight, oil & gas companies dramatically
reduced their drilling and exploration programs. The massive new home
subdivisions which were common the last several years slowed to a crawl as
potential buyers were uncertain whether they would have a job.
Alberta Land Surveyors were affected too. Alberta Land
Surveyors and technical personnel had grown accustomed to always being able to
find employment – often receiving numerous job offers. Now, there were layoffs
as new and experienced people in the land survey business were suddenly let go
with few immediate prospects for employment.
The Alberta Land Surveyors’ Association had been looking
forward to a big celebration for the 100th annual general meeting in
Banff but now things were uncertain. As it turned out, it was still a big
celebration with the biggest turnout ever. Still, there were storm clouds in the
air. A motion under new business asked Council to prepare a financial
contingency plan if iron post and marker post sales were to be 25% below what
had been budgeted. The initial 2009-2010 budget had already forecast post sales
to drop from 237,140 in 2008-2009 to
160,000 and now a plan was to be prepared if post sales fell to 120,000.
It became apparent that the number of new activities and
initiatives that the Association had seen in
2008-2009 would not be able to continue
for the foreseeable future.
In anticipation of the Association’s 100th
annual general meeting, the Historical & Biographical Committee put together a
travelling museum exhibit that included an old-style surveyor’s tent, artifacts,
posts and display panels. The exhibit was unveiled at the 100th
annual general meeting then went on display at the legislature over the summer
and then on to smaller regional museums throughout the province. The Association
also put together a special magazine called Alberta Boundaries in
conjunction with Alberta Venture publishing to showcase the past, present and
future of the land surveying profession. Alberta Boundaries was widely
circulated throughout the province.
The Association’s Systematic Practice Review program
continued to be in a state of flux. After more than a year without a full-time
Director of Practice Review, Chris
Everett joined the staff in February 2009. Still, the Association continued
to try to find ways to streamline the existing system and develop a new program
for the future as it dealt with a larger membership than when Systematic
Practice Review started in 1994 but a
forecast for a smaller budget.
In November 2008,
the Association concluded an agreement with the provincial government to
increase the mark-up on iron posts and marker posts. It was the first time in
twenty years that the mark-up had changed. In exchange for the increased
mark-up, the Alberta Land Surveyors’ Association took on responsibilities that
were previously those of the government – delayed posting monitoring and field
note and dormant plan repositories. Through this agreement, the Association also
had funding to investigate boundary uncertainties and alleged survey errors.
On January 1, 2009, the land surveyors’ labour mobility
agreement between Alberta and British Columbia took effect. It was obvious that
the change in the economic climate had an effect on the agreement as far more
Alberta Land Surveyors went west than British Columbia Land Surveyors came to
Alberta.
There was still a spirit of cooperation in the air as the
councils of the ALSA and ABCLS held their first ever joint meeting in Victoria
in November 2008. As a result of this
meeting, there were agreements that would see the respective public relations
and professional development committees work together.
Finally, the ever-changing Manual of Standard Practice was
completely overhauled thanks to Irwin
Maltais and the Standards Committee. The intent of the overhaul was to make
the Manual of Standard Practice easier to read by putting it into plain
language, using a larger font, and adding hyperlinks.
There was no doubt that
2008-2009 was a year of tremendous
upheaval.
- Back - 2008 - The David Thompson
Bicentennials
- Forward - 2010 - Dual Plan
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