March 5, 2010 5:15 PM
In recent weeks, several towns arou nd the United States have begun to limit the use of portable storage containers in front yards and driveways, by requiring residents to get permits, limiting the time period the containers can be used, and in some cases, banning their use. The Zeeland, Michigan City Council is looking at the possibility of banning the use of utility trailers in front yards and driveways for more than 48 hours at a time. In Morris Township, New Jersey, the Township Committee is considering banning PODS (portable on-demand storage) containers unless the homeowner first obtains a permit for their use. The Blue Springs, Missouri Planning Commission has already voted to ban the use of portable storage containers in front yards. [More]
November 24, 2009 6:38 PM
Three Canadian companies announced yesterday that they are signing a term sheet to enter into a joint venture together. The three companies, StorageVault, Can-Stor Self Storage LP and CSS Holdings LP, plan to introduce the portable unit concept (PUPS) to their properties. They intend to integrate their fixed storage with PUPS businesses at each of their properties.
The term sheet is only a very preliminary step. At this point, it is tentative -- the term sheet itself must be agreed upon and approved by the Boards of Directors of each company, the joint venture itself must be approved, and shareholders and investors for each company may have to approve, before the joint venture can move forward at all. Once all those approvals are obtained, the TSX Venture Exchange must also approve. [More]