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CALGARY – One of the biggest events on the Calgary Stampede’s party circuit won’t be going ahead this year.

Investment dealer FirstEnergy Capital says that, for the first time in two decades, it won’t be hosting its annual FirstRowdy bash this July.

In past years, the party has been headlined by big-name acts like the Barenaked Ladies.

In a letter to clients, CEO John Chambers and chairman Jim Davidson say the decision to cancel was a tough one.

In lieu of FirstRowdy, they say FirstEnergy will be donating a total of $100,000 to four charities that are focused on helping people in need as a result of the economic downturn.

Stampede-week parties are often viewed as a barometer of the economic climate in Calgary, with hosts spending big when times are good and pulling back when they’re not.

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(The Canadian Press)