Winnipeg Free Press

Winnipeg Free Press (Newspaper) - November 30, 1982, Winnipeg, Manitoba Winnipeg free november 1982 by Jack Francis the depressed Economy is panicking gov6rnrhefits into state capitalism what we used to Call fas the head of Canadas largest resource com Pany said Here Alfred Noranda mines chairman and chief executive said Ottawa appears to be adopting the Heilbroner theory that government will take Over business to provide the essential economic Security required for a workable economist Robert Heilbroner recently published a thesis that the mixed Economy and the welfare state caused so much inflation that the sys tem can no longer generate enough Heilbroner theorized that Only various ceilings and wage and Price restraints can solve inflation and Only an organization As pervasive As the tax department can administer okays it addition Heil Asnef also said the state Copti Fatin was the vehicle of the future As the Only Mafis of amassing the financial and political pressure and Zeal to survive global Competition he forecast Majove corporations Suth As Boeing and ism would have government officials on their boards and Access to government and they will no longer know if they ate Patt of the private of Public in an interview before a speech a University of Manitoba studies Rheet called the prediction chilling it its threat to living standards and above All free but he said it was a plausible explanation for what was happening just look at pet Focan of six and japanese car quotas and the rash of Protection is legislation arts the Way the theory has been received As revealed truth in million in the first nine non rfcs of this Noranda has workers on compared with Eai Iier this 6ut with most industries that use metals being restructured on smaller Many would never be he said Powis said employees have had a change of attitude and understand the need for efficiencies Lone before Union leaders the Manitoba Cabinet has authorized expenditure of an extra million which was not provided for in this years the extra called a special is to cover new or additional needs in the current fiscal almost half the Money is earmarked for the Manitoba crop insurance for Field adjustment work and other administration costs associated with claims a further will go to Northern affairs to cover a series of projects in Bissett aimed at revitalizing the Community after reopening of its Gold the projects include subdivision the hauling of water and construction of a water Lagoon and Purchase of fire Protection equip of the remaining is earmarked to help study and Monitor Mercury Levels in the Churchill and will cover costs associated with reorganization of the provinces Urban affairs the to tithing executive warned to expect no Sion of exploration in or any where in the Short term because capital expenditures would continue to be Cut until there is a general economic he said Evert knowledge of a particularly Rich so Iunce would not draw out except maybe for Noranda had Cut plans for billion capital investment this year to million and would reduce investment much further next some Small revival in areas like House building would give a Small boost to Basic metals Lead draw Down inventories and Lead to less Supply and better but such As have to wait for general recovery to get More capital Powis in the meantime if things stay some very Good companies will go some major firms Are already virtually wiped especially in the lumber its no longer a question of the efficient no amount of Good management can manage its Way out of High costs and Powis said the infusion of million by Bra Scade which bought 40percent interest in Noranda in a takeover put the corporation in a better position than he noted the first loss since 1927 when the firm was til selection of famous designer Harries of Fri Canada and around the selected styles available in of this seasons fashionable 396 Portage Avenue ladies Only 340 Portage Avenue Prairie Pride 2 Turkey breast excellent for diets 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