Royal Bank's Sale of Centura `Inevitable', Analyst Says - 2005-03-16
Royal Bank of Canada's sale of its U.S. consumer bank is ``inevitable'' because it does not have the size and local management to compete with bigger rivals, National Bank Financial analyst Robert Wessel said.

Chief Executive Officer Gordon Nixon is scaling back in the U.S. after putting in at least $8 billion buying RBC Centura and other brokerage, insurance and mortgage businesses. Nixon told investors in September that the company failed to meet earnings targets as profit from the U.S. plunged 92 percent last year.
Read the full story at Bloomberg

SCV likely to weather any real estate dip - 2005-03-16
Despite warnings of a cooling housing market and higher mortgage rates could dampen California's economy, a local expert is still bullish about the Santa Clarita Valley, which has the foundation to weather a real estate slump.

Mark Schniepp, who prepared the 2005 Santa Clarita Valley Real Estate & Economic Outlook, said Tuesday the city has enough diversity in its economy -- from retail services to manufacturing -- to handle an inevitable slowdown in building and real estate.
Read the full story at Los Angeles Daily News