Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 11, 1990, Winnipeg, Manitoba 11 Ca Foft details special rates Kay Appie to seniors rates subject to confirmation certain min Muma conditions apply no fees i Winal Pill Brandon 7284840 Flat attrial toll fam 1 mo3921388 Rice Winnipeg free press january pages 1324 Philip business editor business Campeau situation called precarious by Susan Yellin Toronto up officials at ailing Campeau have jumped one financial but analysts doubt the company can Muster enough strength to Clear the next one with after Days of the re Tail and real estate conglomerate said yesterday it was paying its Bills to the suppliers of its 260 department stores across the United a Mark of its interest to continue Good business the is processing cheques in the Normal course of business said a statement from the company corporate communications offices in the scheduled payments caused a slight rally among at the Toronto Stock Campeau shares closed up 54 cents to 50 with More than shares Trad but analysts say the payment of million us for purchases made before Christmas was nothing com pared to what the company now faces a threat by its major banker to declare a loan of billion us in default unless Campeau can come up with a satisfying restructuring two week reprieve it looks pretty said Ross an analyst with Leves que Beaubien Geoffrion in Citicorp Bank had threatened to declare the loan in default last but gave Campeau a two week re Prieve to prove its two major retail Federated depart ment stores and Allied Are in filings to the securities and Exchange commission last the company said it was unable to express a conclusion As to its sol sparking the threat from i Allied and Federated have said they might file for chapter 11 bankruptcy such a filing would allow the stores to continue operating while a restructuring plan is at the same the company announced that Russell its executive Vic president and chief financial had resigned and was being replaced by Chance a a senior Vic president of finance with Marriott Bahadur is Campeaux third chief financial officer in less than a last Davis replaced Roger Ashton during a shakeup of Cam peas top departure regretted in a the company said it regretted Daviss not ing his duties within the company had become increasingly demand ing and unrelenting in recent As the Toronto based company Board of directors slogged through a third straight Day of closed meet analysts predicted Campeau will have a Tough time convincing Citibank on i dont think Citibank will be reassured because Citibank Well knows that Peak season for Cam generating Cash was two weekends in said Janet an analyst with Josephthal and in new Dave free press Brad Fry left and Neil Stern of of mind computer products common set of standards will reduce the on line for lon term benefits by Murray Mcneill Manitoba computer and electronics manufacturers Are hoping theres truth to that old adage that Good things come to those who computer and electronics manufacturing was one of the Manitoba industries that was expected to Prosper under the Canada free Trade which came into effect on members of the Industry said in recent interviews that while they still believe that will they admit that few benefits have materialized thus i dont think to Date weve seen a lot of said de Van hum president of Winnipeg based Vansco electronics and presi Dent of the electronics Industry association of i think it the Benefit of free Trade is going to be fairly Brad Fry and Neil Coloun Ders of mind computer shaking we were hoping this agreement would open new markets for Fry but the agreement is still Shak ing Stern after one year its still not Sheldon founder of Home Stead computer services said free Trade also Hast had any significant Impact on his Compa Fulton said it did reduce the Cost of some computer hard Ware the company uses in manufacturing some of its agriculture related software but its had no direct affect on sales or on our doing business in the a year after one of a series he Van Humbeck said one of the main reasons the fat Hast had a significant Short term Impact on the Industry is because Canada and the United states had free Trade on most computer and electronics components even before the fat came into but that not to say that no one in the Industry has benefited from the first round of Tariff reduce Northern telecoms Canada saw the duties on some finished products it exports to the United states drop by about 30 per cent last said William manager of the firms Winnipeg manufacturing while it Hast resulted in additional sales for the its helped make us More competitive in the hews Bob president of Winni Peg based get Canada said his telecommunications firm has benefited in the same fashion from the removal of an eight percent Tariff on one of its Telephone answering Ashman said not Only did the Tariff reduction make that particular product More competitive South of the but it also helped offset the negative Impact of higher labor costs and a Sharp Rise in the value of the Canadian Dollar As compared to the weve maintained the same prices that we had two years ago despite increased labor costs and a higher he but As far As most of gets other products Are Ashman said the fat Hast had any real Impact As although that could change in another two or three years As further Tariff reductions Are phased he positive Impact while the benefits from Tariff reductions have been Van Humbeck and Fulton said the fat has had a positive Impact in other for one firms appear More willing now to buy Canadian made they it seems to have Given them Canadia made products an offi Cial Van Humbeck and i think that fairly import it sort of makes the buyers a Little More willing to Pur Chase Canadia made maybe a Little less concerned about the necessity to by he As the fat also has made Manitoba manufacturers More aware of the importance of looking beyond Canada when it comes to marketing their Van Humbeck the world is getting a lot smaller and we have to Trade inter i think maybe this the fat wakes everyone up to that he added that if any local com Puter or electronics manufacturers go out of business in the next few it most Likely will be the ones who failed to recognize that fact and to do something about but i think that would have happened he i think that a natural the world is getting smaller with or without free Stern said another positive development to come out of the signing of the fat is that the Canadian and governments Are now working towards amalgamating their safety and emission standards for com Puter and electronics a common set of standards will make it easier and less expensive for North american manufacturers to get their products approved for Sale in both he he explained that under the existing a firm has to pay for one set of tests to be done to ensure a product meets Canadian Stan then file the necessary paperwork and pay fees to have its application and if it wants to sell the same product in the United it has to go through the same procedure All Over again to prove the product also meets youre basically double doing it in order to get it the product into both Stern it a common set of standards will re Duce the bureaucracy a there Are other aspects of the fat that need to be clarified before local computer manufacturers will know just How much Benefit under the Stern and Fry for its still not Clear what criteria Are to be used in determining whether products meet the Canadian and con tent requirements set out in the they Stern explained that under the at least 50 per cent of the components in computer products traded Between the two coun tries must be either Canadian or a combination of Many of the major computer firms in the such As Texas instruments and de sign their components in the their but manufacture them in their offshore where labor costs Are Stern its still not Clear what percentage of those components Are considered to be and what percent age Are considered foreign he mind computers is hoping it can get around the problem by buying More preassembled components most of which Are manufactured off Shore and assembling them Here at its Winnipeg Fry thereby increasing the Cana Dian Well just have to try it and see if it gets through the he no evidence As for whether the fat has resulted in More american computer firms entering the Canadian mar Stern and Fry said they Haven seen any evidence of that Here in nor do they expect that to be a problem in the they they noted that most of the major computer firms already had sales representatives in can Ada before the fat was and Many of the smaller firms Are still leery about exporting to they for snipping our products to California or Toronto is no big Stern but for califor Nia the concept of ship Ping their stuff All the Way up to its a real North West Trust Montreal Exchange closes visitors gallery after protest Montreal the Montreal Exchange has temporarily closed its visitors gallery to the Public in the Wake of a protest demonstration last month by a group of unemployed Yves an official at the Stock said in an interview yesterday that unwelcome visitors can be a the demonstration was the Straw that broke the camels members of the carrying placards and using a megaphone to shout demands for better unemployment tried to get onto the floor of the one floor below the but the door was barred in their Appeal planned Montreal aur resources of Toronto says it is appealing a decision by a Quebec court that it was wrong in seizing the shares of Junior mining Louem held by controlling share hold Ste Genevieve resources Quebec Superior court ruled that an agreement Between Montreal based Louem and aur did not result business watch in aur obtaining real or proprietary rights in the shares of Louem held by also Mon last aur entered an agreement to take control of Lou Mem by purchasing million shares and four million Treasury shares and aur would have owned about 67 per cent of Louem As a aur official Peter Mccarter damages awarded Dallas More than million in damages has been awarded to a Texas woman by a Federal court jury who found Xerox discriminated against her because of her the jury awarded Elizabeth Lay Man in actual damages and million in punitive concluding that Xerox has fraudulently induced Layman to relocate to California and then refused to employ Disneyland expansion Indiana Jones stunt attraction and a 1930s style Hollywood backlog attraction Are among possibilities for what May be Disneyland biggest expansion in its 35year Park employees Disney officials Are keeping mum about specifics of the expansion plans until an announcement Friday by Disney chairman Michael Trade talks end Taipei american and Taiwan Ese officials ended three Days of Trade talks yesterday without reach ing agreement on requests for Taiwan to further open its Sandy assistant Trade said the american delegation was disappointed at Taiwan refusal to end import bans on High value Agri cultural products and alcoholic beverages and its restrictions on insurance ;