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OTTAWA – Canadian and international visitors to Canada are spending fewer tourism dollars, Statistics Canada reported Monday.

The agency has released new numbers showing tourism spending declined 1.3 per cent between January and March of this year.

Tourism spending has now fallen for three straight quarters. The last time that happened was around the time of the Sept. 11, 2001 terrorist attacks, when the tourism sector was already in a downturn.

Spending by international visitors fell 5.7 per cent in the first quarter of 2009 – the 14th decline in 17 quarters, and the sharpest decline since the SARS outbreak during the second quarter of 2003.

Visitors from outside the country spent less all around. Spending on vehicle fuel declined as fewer tourists from the United States made same-day car trips to Canada no fax quick cash. Visitors also spent less on food and drinks.

Canadians’ spending on tourism in Canada fell 0.1 per cent after modest declines in the previous two quarters.

Fewer Canadians travelled abroad, and spending on air travel fell 2.5 per cent during the quarter.

However, overnight travel within Canada was up. Canadians spent more in the quarter on accommodation, car rentals, gasoline, food and drink, and recreation and entertainment.

Meanwhile, tourism gross domestic product contracted 0.9 per cent during the quarter following two negative quarters in the second half of 2008.

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Chrysler’s bankruptcy lasted just six weeks, but its next test — operating as a Fiat SpA-controlled company — arguably will last longer.

The road ahead for Chrysler Group LLC remains a rocky one, analysts say, despite being saved from liquidation by Fiat of Italy.

Benefits of the partnership, such as sharing vehicle platforms and dealership networks, won’t surface until mid-2011, when the first vehicles using Fiat platforms arrive at U.S. dealerships, according to one analyst’s timeline.

Until then, the alliance must figure out how to endure a dire market without a strong portfolio of new products. It also must implement its plans to make and sell Fiat vehicles in the U.S.

"The next couple of years are going to be about figuring out the difference between the idea and reality," said Stephanie Brinley, a Troy, Mich.-based analyst for auto consulting firm AutoPacific.

Already, the automaker has taken sweeping steps: It laid off workers, cut production and announced plant closures — including both assembly plants in Fenton — to restructure and survive. It has a new leader, Fiat Chief Executive Sergio Marchionne, who spearheaded a turnaround at the Italian automaker in recent years.

But Marchionne and Chrysler still face worrying obstacles:

— Tumbling sales caused by the global recession and tight credit.

— Consumers’ negative perception of a bankrupt company.

— An aging product line with few new products in the pipeline until the Fiat-based vehicles arrive.

Those issues will push Chrysler’s U.S. market share below 5 percent in the next 12 to 15 months, predicted Erich Merkle, president of Autoconomy.com in Grand Rapids, Mich.

Chrysler had a 13.6 percent market share in 2005 and was the No. 3 automaker in terms of U.S. market share, according to data from J.D. Power and Associates. The next year, Toyota pushed Chrysler into the fourth spot.

Merkle estimates Nissan and the South Korean conglomerate of Hyundai-Kia Automotive Group will outpace Chrysler’s U.S. market share in the next six months. That could push Chrysler to the No. 7 spot, he said.

"Every time you find a new partner, the product cadence and product pipeline takes a hit," Merkle said of Chrysler’s new alliance.

Chrysler, for its part, contends it has 24 new vehicles in the next four years. Spokesman Rick Deneau declined to say how many of those were new-name products versus redesigned versions of existing models.

In 2010, it will launch completely redesigned versions of the Chrysler 300, Jeep Grand Cherokee, Dodge Charger and Dodge Durango, he said.

Another analyst, Jim Hall, said that for the next few years, Chrysler will need to live off its profitable vehicles — the minivans and the Dodge Ram. Both have had sales challenges.

"They have to play with what they’ve got," said Hall, principal of 2953 Analytics in Birmingham, Mich.

FIAT TURNAROUND

But the automaker will be playing with a new leader, Marchionne.

Marchionne took the helm of Fiat in 2004, when the automaker was at the edge of bankruptcy. By changing its management and elevating younger employees to higher positions, he helped Fiat rebound, said Pierluigi Bellini, an associate director in Milan, Italy, for IHS Global Insight.

"He’s a very strong leader. He thinks very much outside of the box," Bellini said. "He’s very demanding (of those he oversees) but also gives a lot of empowerment to them."

Marchionne also has forged more than two dozen partnerships globally, Bellini added. And it seems he intends to do more: Marchionne told trade publication Automotive News that manufacturers need to make 5.5 million vehicles a year to remain profitable and survive.

Fiat made about 2.4 million vehicles last year among its Fiat, Alfa Romeo, Ferrari, Maserati and Iveco units, according to IHS Global Insight data. Chrysler made about 1.9 million vehicles among its Chrysler, Jeep and Dodge brands.

Bellini expects that Marchionne will continue to pursue alliances.

Just two weeks into his position as the head of the new Chrysler company, he is using a similar shake-up to the one implemented with Fiat.

Earlier this month, on the day Chrysler and Fiat finalized their deal, Marchionne announced changes to the new company’s leadership free car insurance quotes. He promoted several Chrysler executives, including Jim Press as his deputy chief executive, but also brought in a few Fiat leaders.

Fiat is "certainly not coming in and taking over," Brinley said, adding that Marchionne kept many responsibilities with North American, not Italian, executives.

A request to talk with Marchionne or one of his executives was not granted. Chrysler spokeswoman Shawn Morgan said the company is not making executives available for interviews.

WHAT’S NEXT

Fiat SpA took an initial 20 percent stake in the U.S. automaker earlier this month. In exchange, the Italian automaker will give Chrysler access to small-car platforms at a time when the U.S. company’s lineup is skewed toward pickups and sport utility vehicles. It also gives Chrysler another inroad to selling vehicles outside North America — a feat the U.S. automaker has struggled to achieve.

For Fiat, the alliance gives it access to Chrysler’s manufacturing facilities and dealership network. Fiat made a strong push in the U.S. market in the 1960s and 1970s but pulled out after distribution and quality problems, according to IHS Global Insight.

"Fiat has been looking for returning to the U.S. with the Alfa Romeo (luxury) brand for years," Bellini said.

Several Alfa Romeo cars are scheduled for the U.S. market in the next few years, according to a research note by IHS Global Insight. Likely plans include:

— The Alfa 169 sedan will be built in Chrysler’s Brampton, Ontario, plant in November 2011 for the 2012 model year.

— The Alfa Romeo GTX will be built at Chrysler’s Jefferson North Assembly Plant in Detroit in July 2011.

— The Alfa Romeo MiTo hatchback will be built at the Belvidere, Ill., plant in July 2011.

Some Chrysler products — like the Dodge Caliber and Jeep Liberty — likely will be built on Fiat-based platforms, the research note said.

The only Fiat-badged model to be sold in the U.S., the Fiat 500 subcompact, will be made at Chrysler’s Toluca, Mexico, plant starting roughly in July 2011, according to IHS Global Insight.

Chrysler’s Deneau said Marchionne told employees a few weeks ago that product plans for the Chrysler-Fiat alliance could be unveiled in 60 to 90 days. He could not provide details about specific vehicles.

Deneau also wouldn’t comment on IHS Global Insight’s report of the mid-2011 timeline for Fiat-based vehicles to be sold in the U.S.

But before those car designs come to the U.S., Fiat and Chrysler will have to address differences in federal vehicle regulations and pricing structures.

"Europeans are willing to pay more for small cars (than Americans), and they’re willing to pay for features in small cars," Brinley said.

Several analysts said American car shoppers may not eagerly embrace the Fiat products for several reasons. First, the reputation of poor quality that Fiat left in the U.S. may dissuade consumers from returning to the automakers’ brands, analysts said.

Second, analysts question whether the U.S. government, and not consumer demand, is leading the push for smaller cars on U.S. roads.

"The U.S. is not (a big market) for small, compact cars," even if gasoline prices go higher and the government implements higher fuel regulations, Bellini said. "I still think the American people like big cars, maybe with smaller engines."

Whether Fiat can sell these smaller vehicles in the U.S. is difficult to gauge.

And some say the Fiat alliance won’t accomplish Chrysler’s most important goal: saving it from an eventual breakup.

Merkle said he was glad a bankruptcy judge approved the alliance because it gives Chrysler a chance to wind down operations versus a quick liquidation.

A possible scenario, he said, is Fiat selling off the Jeep and pickup brands, while keeping some Chrysler plants open to produce its own products in North America.

"I take no pleasure in saying that because I love the Chrysler (brands)," he said. "I just don’t see how they get through this."

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BIRMINGHAM–General Electric Co. said Friday it will build a $100 million manufacturing technology center in Michigan that will eventually employ more than 1,100 workers.

The Advanced Manufacturing and Software Technology Center will include a GE research and development facility with scientists and engineers who will develop manufacturing technologies for GE's renewable energy, aircraft engine, gas turbine and other products.

The center, which is expected to open later this year in Van Buren Township, Michigan, also will work on software development, networking and other services.

GE, which is based in Fairfield, Conn., says it will build a 100,000-square-foot facility to house the manufacturing center. The state of Michigan is providing more than $60 million in incentives over the next 12 years to support the center payday loan online.

Gov. Jennifer Granholm, appearing with Immelt on the CNBC cable network Friday, said the new center will bring high-skilled jobs to Michigan, which has been reeling from the recession and the downturn in the auto industry.

"These aren't just any old jobs," Granholm said.

The research employees at the Michigan facility will join 2,800 researchers and employees at GE's four other research facilities. GE said it expects to establish partnerships with local universities on training programs for its employees at the center.

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Boeing’s largest airline customer for the 787 said it is canceling orders for 15 Dreamliners and deferring another 15 by four years. Qantas Group, the parent of Qantas and Jetstar, said Friday in Australia that the changes were driven by the economic climate, not this week’s announcement of a design problem that will add weeks or months to the much-delayed plane’s first flight pay day loan. Qantas has 50 remaining Dreamliners on order, comprising 35 B787-9s and 15 B787-8s. Qantas placed its original B787 order in December 2005. The financial impact of the contract changes was not disclosed. (MCT)

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MONTREAL–Air Canada is on the runway to achieving labour peace after reaching a tentative deal with flight attendants to extend their contract by 21 months.

The agreement with the Canadian Union of Public Employees means the cash-strapped airline has reached "cost-neutral" agreements with all of its unionized employees.

The contract extensions and moratorium on pension contributions are subject to employee ratification.

The Canadian Auto Workers’ union representing service agents were the first to approve their agreement last week.

Air Canada CEO Calin Rovinescu said the deals were achieved in the backdrop of the current economic context and financial crisis facing the airline industry.

"These tentative agreements will allow us to move forward to the next milestones: obtaining the necessary governmental measures and approvals for the pension funding arrangement and raising new financing," he said in a statement.

Discussions are ongoing with several potential lenders affordable health insurance massachusetts.

The airline has approached federal agencies for up to half the $600 million it is looking to raise. Majority owner ACE Aviation Holdings is believed to be willing to lend about $100 million.

The contract extensions include no increases to wage rates or pension benefit for 21 months.

Air Canada’s unions will share a 15 per cent equity stake in the airline and obtain one seat on its board of directors in exchange for their agreement on a moratorium on past service pension contributions.

The parties said the deal with flight attendants was aided by federally appointed mediators Jacques Lessard and former Ontario Superior Court justice James Farley.

David Newman, of National Bank Financial, stated in a research note that "the fundamentals remain poor, with Air Canada particularly impacted given its operating leverage."

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WASHINGTON — With unemployment likely to hit double digits this year, the Federal Reserve must strike a reassuring message this week: that it stands ready to take further steps to nurse the economy back to health, but also make clear that too much medicine could spur worries about inflation.

Some economists say that at the end of their two-day meeting Wednesday, Fed Chairman Ben Bernanke and his colleagues may say they will stretch out their purchases of government debt to avoid an abrupt end to that effort, now slated for August. Doing so could help avert possible market disruptions and help ease fears about a stimulative overdose that could trigger inflation.

"I think there’s a good chance the Fed will exert more flexibility in the timing of purchases to slow them down," said Michael Feroli, an economist at JPMorgan Economics.

What’s all but certain is that policymakers will hold a key lending rate to banks at a record low near zero. They also are likely to repeat a pledge to keep rates there for "an extended period."

Most economists say that means the Fed will keep the target range for its bank lending rate between zero and 0.25 percent through the rest of this year and probably into next online cash advance. That means commercial banks’ prime lending rate, used to peg rates on home equity loans, certain credit cards and other consumer loans, will stay around 3.25 percent, the lowest in decades.

Most economists say the Fed won’t be inclined to boost its purchases of government debt or mortgage-backed securities at this week’s meeting, preferring to take time to assess the impact of its actions already taken.

There will be "no fireworks from the Fed," predicted Michael Darda, chief economist at MKM Partners. With unemployment expected to worsen and with factory production sagging, Darda said inflation is unlikely to sprout any time soon.

"Don’t expect the Fed to start laying the groundwork for tighter monetary policy" until there is sustained turnaround in factory and employment activity, he said.

And that will take awhile, because an eventual recovery is likely to be tepid. Still, Fed policymakers will continue to explore how and when to wean the economy off stimulative medicine to avoid fanning inflation.

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Emerging markets are like those giant slices of double-mud chocolate-brownie cake offered to you by restaurant servers at the end of your meal.

You run the risk of a severe stomachache later, but they sound so good it’s hard to resist.

This year, emerging markets mutual funds are up an enticing 54 percent, according to Lipper Inc. That indicates developing nations have the capacity to survive global economic trauma and investors are regaining an appetite for risk.

Here’s the stomachache: For the 12-month period that included the initial global economic panic, they’re still down 28 percent.

"Emerging markets have rebounded better than anywhere else and are a really hot area, with investment flows into emerging market mutual funds really strong," said Alec Young, international equity strategist with Standard & Poor’s Corp. in New York. "Just don’t forget this is a volatile area in which individual investors are often late to the party."

In some cases, emerging market countries have acted more grown-up and less panicked than their established rivals.

"We’ve seen that emerging countries have become much better in managing their own finances and the macroeconomic environment," said Patricia Ribeiro, portfolio manager since 2006 of the $469 million American Century Emerging Markets Investors Fund in New York, up 28 percent this year. "We didn’t see any major meltdowns in which any emerging market countries had to devalue their currencies because they couldn’t defend them."

In the 1980s and 1990s, emerging markets would implode on most any type of world stress, Ribeiro said. It is also a positive sign that more of these nations’ citizens are investing in their own markets. Although the economic environment remains difficult, she is convinced the most significant growth in the next two years will be in developing countries.

"Today, to have a diversified portfolio, you must look at emerging markets," Ribeiro said.

China, India, Brazil and Russia are the biggest country allocations in her fund. China’s stimulus package has proven effective; India has lowered interest rates and targeted infrastructure improvements; and Brazil, driven more by domestic than global factors, has created mechanisms to make lending easier, she noted. Russia is riskier because it is so dependent on oil prices and has a lot of debt.

Ribeiro’s top stock holdings include South Korea’s Samsung Electronics and Hyundai Motor Co.; Brazilian oil and gas company Petrobras and industrial materials company Vale; hardware maker Taiwan Semiconductor Manufacturing; and Israel’s Teva Pharmaceutical Inc.

"Emerging markets are going to come out of the recession before we do," predicted Gary Gordon, president of Pacific Park Financial in Aliso Viejo, Calif. "For example, a ‘bad’ year for China is 7 to 8 percent growth, and its stimulus package is $600 billion with 75 percent going toward infrastructure business cards."

The U.S., Japan and the developed nations of Europe are likely to be the last to emerge from recession, Gordon said. And while major world markets hit multiyear lows in March, emerging markets hit their lows in November.

The best way to invest in emerging markets, Young believes, is a broad-based index available through either an exchange-traded fund or a mutual fund, with plenty of choices available in each. For example, the Vanguard Emerging Markets ETF tracks performance of nearly 800 stocks of companies in emerging markets. Vanguard Emerging Markets Stock Index Fund is a comparable mutual fund.

"We endorse the idea of choosing an index over an actively traded emerging markets fund to invest in emerging markets," Young said. "That’s because the more exotic an asset class, the higher the expense ratios can go for actively managed funds, making it difficult to beat its benchmark index."

Only a small portion of an individual’s portfolio should be dedicated to emerging markets, he said. For example, S&P’s "moderate risk" model portfolio of 60 percent stocks and 40 percent fixed income includes 5 percent of the stock portion in emerging markets.

Emerging markets ETFs that look good to Gordon include:

— iShares FTSE/Xinhua China 25 Index, which consists of 25 of the largest and most liquid Chinese companies.

— Claymore/AlphaShares China Small Cap, which tracks the AlphaShares China Small Cap Index that monitors publicly traded mainland China small-capitalization companies.

— Market Vector Brazil Small Cap, which focuses on some of the smaller companies in that country and takes advantage of its strong consumer base.

— iShares MSCI Emerging Markets Index that covers a broad mix of emerging markets around the globe.

For obvious reasons, a single-country ETF carries greater potential risk than one that spreads risk around among many different countries.

Check your holdings to see whether you might already have adequate emerging markets coverage. Morningstar Inc. calculated that most foreign large-cap funds have 8 percent to 13 percent of their assets invested in the developing world. Emerging markets holdings are frequently found in diversified stock funds.

"Since you have to protect against downside risk, don’t buy an emerging markets investment and hold for a decade," Gordon said. "If you see it has made 80 percent over the past two years, maybe take a little profit off it, since holding forever is definitely not the way to go with this group."

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When it comes to raising capital in the current economic environment, being married to a Google co-founder has its advantages.

Regulatory forms filed Thursday showed the internet search giant recently invested another $2.6 million in biotech firm 23andMe, which was co-founded in 2006 by Anne Wojcicki.

Wojcicki is married to Google co-founder Sergey Brin.

Google already has a $3.9 million stake in the company, which sells DNA analysis. It made that investment in 2007, shortly after Brin and Wojcicki were married.

"We believed the technology had promise the first time we invested and continue to believe that now," said Jane Penner, a Google spokeswoman.

"23andMe helps people make sense of their genetic information," Penner said, adding that the company’s mission is "consistent with Google’s goal of organizing the world’s information low fee payday loans."

Brin, 35, converted $10 million worth of 23andMe debt into preferred stock as part of the transaction, according to the SEC filing.

Google (GOOG, Fortune 500) also entered into a lease agreement with 23andMe. But Penner declined to comment on the details of the lease agreement and referred questions to 23andMe.

A spokeswoman for 23andMe could not be reached for comment.

The name 23andMe refers to the 23 pairs of chromosomes that make up each individual’s genome.

Both Google and 23andMe are based in Mountain View, Calif. 

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some rays of hope for the unemployed. Can the recovery last? Most important: Where are the jobs?

Get the answers when Anderson Cooper and Ali Velshi host our panel of experts and check in on virtual town halls across the country.

Thursday, June 18 at 8p.m. ET

DETROIT’S DOWNFALL

• Chrysler set to reopen most plants
• Ford’s bumpy road ahead
• More auto industry bankruptcies loom
• Chrysler restarts with the Viper
• Will GM, Chrysler leave injury lawsuits behind?

NEW YORK (CNNMoney.com) — Chrysler announced plans to reopen 7 of its 11 assembly lines later this month for the first time since the day after the company filed for bankruptcy in April.

The company said two plants in Michigan, one in St. Louis and one in Toledo will reopen during the week of June 29. Two factories in Ontario, Canada will also reopen as well as one in Mexico.

The seven plants make a variety of Chrysler vehicles, including the Dodge Grand Caravan, Jeep Wrangler and the Chrysler Town & Country.

In addition, the company is reopening several factories that make powertrains, axles and other components used by the assembly plants. Chrysler’s parts distribution centers, which supply parts to both plants and dealerships, will also reopen cash advance no fax.

Three assembly lines — one in Illinois, one in Detroit and another in Mexico — will remain shut for the time being. Those plants employ about 5,000 workers between them.

All told, Chrysler currently has about 38,000 production workers in the U.S., both hourly and salaried, and employs another 9,000 in Canada and 5,000 in Mexico. So most of Chrysler’s workforce will be returning to their jobs later this month.

But virtually all of Chrysler’s plants are due to shutdown again for normal summer retooling, which will take place during the weeks of July 13 and 20.

And four of the company’s 30 plants are slated to close permanently by next year as Chrysler makes permanent reductions in its capacity. Chrysler has said one of those plants scheduled to close, the one in St. Louis, could be shut down as soon as this September.

Chrysler filed for bankruptcy on April 30 and halted most operations a day later as it sought to reorganize its operations, complete a combination with Italian automaker Fiat, and work through an excess inventory of vehicles. The bankruptcy court approved its deal with Fiat last week.

So far, the only assembly line that has been restarted was the Conner Avenue Assembly Plant in Detroit, where 115 people make the Dodge Viper niche muscle car. Chrysler is looking to sell that facility.  

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Fresh competitive threats and economic pressures from the recession probably will not have slowed the momentum of BlackBerry maker Research In Motion when it reports results later this week.

Analysts expect RIM will put up solid numbers for subscriber additions, gross margins and the number of BlackBerry smartphones shipped when it posts its first-quarter results on Thursday.

"RIM has shown throughout the recession continued strong subscriber growth, continued growth in market share and continued growth – more importantly – on both the enterprise as well as the consumer side," independent technology analyst Carmi Levy said.

The enterprise market – a jargon term for corporate clients – has grown steadily for RIM even as analysts fretted that companies might cut spending on gadgets like the BlackBerry as their business shrank in the economic slowdown.

Consumers have also remained eager to buy the latest BlackBerry models, including the touch-screen Storm, designed to compete against Apple Inc’s iPhone.

Indeed, if RIM hits its forecast by adding up to 3.9 million new subscribers in the latest quarter, its total user base will stand at about 29 million.

As always, analysts will pay close attention to the company’s forecasts on all these measures in the current quarter and beyond.

"In this environment, you’re not going to want to be too aggressive, but you do want to represent what you’re seeing," Broadpoint AmTech analyst Mark McKechnie said, adding: "We’re expecting a pretty good report and outlook."

For the first quarter, ended May 30, analysts expect RIM to post earnings of 92 cents a share before one-time items, on revenue of about $3 credit score.4 billion, according to Reuters Estimates.

RIM itself has forecast earnings between 88 and 97 cents a share and revenue of $3.3 billion to $3.5 billion.

"They haven’t preannounced, so we should be more or less in line" with what the company has already said, said Duncan Stewart, an analyst at DSAM Consulting in Toronto.

If Waterloo, Ontario-based RIM were faring significantly worse than its forecast range, it likely would have issued a profit warning.

Fresh competition from updated iPhones and Palm’s well-received Pre smartphone are not yet denting BlackBerry sales, but analysts are watching them carefully.

"Make no bones about it, they both represent a significant competitive threat to Research In Motion," Levy said.

The iPhone is now being offered at prices that are much lower than when it made its debut. The lower prices could prompt some consumers to buy the Apple handset over a BlackBerry. The Pre, on the other hand, has received favorable reviews but still has a small footprint.

Investors seem confident of RIM’s ability to withstand the economic and competitive threats. Its shares have more than doubled since dropping to a year low of C$44.23 on the Toronto Stock Exchange in December.

Even at its current level of about C$90, the stock remains well off its year high of C$150.30 that it reached in June 2008.

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