Winnipeg Free Press

Winnipeg Free Press (Newspaper) - March 27, 1975, Winnipeg, Manitoba I Winnipeg free press thursday March 27, 1975 19 unionist defends walkouts by Public service Alliance continued from Pace 17 most people in that Union were never on Saad this spokes Man. Even the Grain situation is Only a very few Dimitri we. Charcoal and More charcoal. That s what purity is All about. Dimitri Vodka is filtered through More charcoal or ultimate smoothness and sparkle. Dimitri. It s now in a new bottle that s worthy of its contents. Hundred out of total membership. The strike peaked at from five to six thousand people then tended to run at about a couple of thousand per As for the possibility of legislation ordering the Sac members Back on the Job this spokesman said Treasury Board minister Jean Chretien s stand has not altered. The minister s position has been that if the econ omy of the country were being seriously Hurt such legislation would be a pos sible solution to the imme Diate problem but sure there has been some Hurt and a lot of people have been inconvenienced but at what Point can you say it is seriously asked the Treasury Board representative. Decisions on legislation to order the Sac members Back to work he said would be a matter for the ministers to decide at the Cabinet in the meantime members of the Grain Industry in Winnipeg have begun to question the government s decision to Force design powerful tool continued from Page 17 designs its own specifications from flyer Indus tries despite and the shop lighting along Portage with signs sticking out. This is what we Call visual pollution. I wish peo ple would Start to treat the designer As a person who can help bring the right things to people things which will take them away from the hurly Burly 20th Century living. And to provide a Good design costs nothing More. If it a designer has t done a Good Job. Racers recalled Detroit a american motors is recalling models of its just introduced pacers to reposition part of the fuel Supply system which the firm said could cause a Gaso line leak. Am said a retaining clip which May have been improperly installed on a rubber Hose in the models could Force the Hose to rub against the Metal supporting the engine and suspension and cause an abrasion. Am said eight leaks have been found so far six on Engi Neering test cars. The models affected were built through feb. 28, the firm said. A company spokesman said he did not know How Many of the cars Are in customer hands. The pacers went on Sale just three weeks ago. Longshoremen Back to work while at the same time leaving the Sac alone. Untied Grain growers limited president a. M. Run c i m a n said this week parliament met to legis late the longshoremen Back to work. What s wrong with legislating the govern m e n t s Union Back to or. Runt Man brought to Bear statements made by Federal Cabinet ministers during a Grain handling strike last summer. At that time said or. Runciman Justice minister Otto Lang the minister responsible for the Canadian wheat Board sent a Telegram to him s t a t i n. G the government was at a loss to under stand Why you would subject the Canadian Economy and Western Grain producers to an unnecessary and very costly disruption of the flow of but said or. Runciman this current strike has done and is still doing much More harm to Prairie Farmers. At least in the last strike the Farmer owners of the companies were behind the Compa Nies the government has twice in the last five years ordered striking Grain handlers Back to work in october 1974 and in a gust 1972. In the latter Case longshoremen also were involved. Undo the damage lighten debt Load Chi mortgage investors an unincorporated Trust established under the Laws of Manitoba 1974 financial highlights for the period Morch 31, 1974 to 31, Gross income net income income distributed uni holders equity total assets income distributed unit estimated Gross yield of portfolio annualized uni holders return on investment annualized 15.9% 14.2% a copy of the 1974 annual report is available from Ghi adviser Ltd. 1210 one Lombard place Winnipeg Manitoba phone 943-4423 by Eliot Janeway consulting economist comparisons with the last great bust of the Early 1930s Are misleading for two reasons. Scary though the comparisons Are they understate the complications. In the first place the debt Burden for employers and employees alike was peanuts alongside what it is today. Second unions were hardly a Factor then. Straight payouts were tried As a lesser evil to layoffs during the preliminaries to that avoidable disaster but they made it worse. Ironically the very magnitude of today s debt Burden offers a handle for avoiding a repeat performance that is clearly threatening. Layoffs and fears of layoffs Are indeed the carriers of today s slump virus but they Aren t the source of the infection. Hyper inflation activated the present Boom bust Cycle. Over indebtedness is the specific abuse responsible for hyper inflation. Booms invite an overload of debt which accentuates busts. The sound Way to undo today s damage and to avoid still More is to lighten the debt Load. The Ideal Way to do so is for everyone to earn enough More to pay debts Down with out missing interest payments on the Way. There s not much Chance of this now. An epidemic of bankruptcy and not just for employers is the harsh alternative. The practical Compromise is to play for time by stretching debts out with out letting them go bad. Interest and amortization Aren t the first claims on any going to keep the doors open. Meeting the payroll is. Even employers operating under the Protection of bankruptcy courts Are allowed to meet the payroll while their creditors Are obliged to wait. The weight of the payroll Burden invariably makes the difference Between making it and going under the Hammer. The Way to Engineer a work out from the debt Vise is to Trade on the troublesome fact that people on payrolls Are struggling with every bit As cruel a debt overload As outfits to meet payrolls. The invitation to do so is offered by the equally troublesome fact that the Banks Are at least As anxious Over the consequences of their Over lending As their debtors Are Over the consequences of their Over borrowing. The wobbling companies their anxious Banks and the petrified people on their payrolls would All be ahead if they worked a three Way Compromise. Assume that the management in trouble could show both the Banks on its Back and the people on its payroll How much difference a reasonable Cut would make. And suppose too that management demonstrated its Good Faith by practising austerity on expense accounts and taking an appropriate Cut itself. All three partners in the debt squeeze would be ahead if management borrowed the pay Cut from labor instead of just taking it. Issuing company notes to everyone on the payroll in order to cover the Cut agreed upon would kill three Birds with one Stone. Management would Cut costs. People now worrying that each pay Cheque might be the last would get a new asset with a fighting Chance to keep the Money coming. The Banks would wind up with a better fixed business Borrower plus a whole new group of family Circle customers for the consumer instalment Loans they Are pushing so hard. Many big Banks Are now offering a free television set As a Bonus packaged with every new Auto loan. There s no Rea son Why they could t make Loans to the employees who Are banking their deferred pay As their contribution to helping their overstrained employers to make Good to the Banks. By definition every company in trouble owes too much. Some families Don t want to go deeper into debt or into debt at All. But there s every reason Why the Banks could make 1m per cent Loans on these deferred payroll notes and with no recourse to employees willing to Bank their employers and needing the accommodation from the Banks. A three year breather for the companies needing Relief would provide them with plenty of Elbow room. The Banks would come out ahead with new assets instead of still More bad debts to be written off. Finding a sane Middle Way Between the extremes of a spending spree and a buying strike by turning workers into creditors would certainly help productivity. Wings wheels and water by John Mcmanus Freddie Laker who we looked upon As a British version of Edmonton s Max Ward made a proposal last april to Wedgwood Benn Britain s Secretary of state for Industry that has been revived by the House Organ Aero spatial of France. Like or. Ward or. Laker operates a charter airline and is impatient with bureaucracy and he makes Money in spite of being an airline Maverick like the Boss of Ward air. Or. Laker keeps his handful of jets very Busy and claims the profit of his company in 1974 was 157 per cent Over 1973. His proposal is that the Anglo French concorde be turned Over to him to operate As a pure con Corde airline. He would set up an organization called concorde air travel the Laker air ways International Ltd. Managing director would prefer that . Not be in any Way affiliated with Iata the International air transport Asso a world wide club of airline operators. . Would be a one class airline concorde or. Laker said it would be a mixture of All class fares with a common fare year round with Only marginal reductions for children plus special rates for same Day mail delivery and Carriage of precious cargo. He would like to operate from Gatwick Airport with rail service from London s Victoria station eliminating the need for a town Termi Nal. . Would have five concorde and put on about hours each in a year. Or. Laker said there would be a London sales office and his supersonic line would t Deal with such complications As peo ple travelling Onward after travelling on direct flight by . Or. Laker suggested five routes for the supersonic service London new York and return twice daily London Toronto and return one flight a Day London Miami and return four flights weekly the same frequency for London Caracas and return and London Rio return. His proposal contained All the financial details for starting up ., plus an Nual hours of utilization and annual round trips. Less than Passen Gers a year would make . Viable and the concorde can easily Gener ate this number of Passen or. Laker said in his letter to or. Benn. The Laker chief said the London new York fare for a round trip would work out to last year s first class of about or. Laker had every thing worked out on paper to cover flying and sales operations including estimated return on capital. Or. Laker offered a proposal about two years ago that would give airline service much like a bus line on a first come first served basis i think you had to bring your own lunch Between London and los Angeles for the american carriers succeeded in shooting Down the bargain basement service. Correction last week this column gave some Landing fees prices for using Canada s airports As a Landing base for trans oceanic flights. The Cost per thousand of air plane is for aircraft Over pounds not pounds As stated. Airline tenants at win n i p e g International Are hoping the government will do something soon about counter space holding rooms and Gates. With More and More people arriving on the big super jets 747s, and wide bodied Semi giant Tri stars plus in creased flights of the air line world s Little Birds there could be Many sum Mer Days Between 5 . And 6 . When the Termi Nal s West Side would look like times Square on new year s eve. Talk with our id advisory services officer. He s Here to help Small businesses help themselves. If you re wondering whether there s a Federal government program that can assist your business Contact our advisory services officer and he will Tell you what Federal programs May suit your needs and put you in touch with the appropriate offices. Call Murray Bori in Winnipeg at 204 943-8581 or to him St 161 Portage Man. E3b ot4 we be moved some big names. Beethoven Mendelssohn Ith Afromsky. Maccosham moves record collections with special care. Maccosham knows How much records mean to people. Some Are irreplaceable. All Are special. We could never forgive our selves if we scratched Beethoven s ninth. If your personal hit Parade does t include a lot of Beethoven. No matter. We treat the beatles just As gently As the classics. So when you re ready to move. And you d like a Little extra care taken with your treasures. Call Maccosham Van lines. Maccosham Van lines ;