Winnipeg Free Press

Winnipeg Free Press (Newspaper) - June 24, 1997, Winnipeg, Manitoba June 1997 b4 Steve email Winnipeg free press business 14 prime 2 world a and dozens of Bull since t in few in have Wen it nil and add it Al Voun pc pifyiin1 it in nerd by More thin i inner of a Illon of leve9que Sec unities a Refl Brennand 9498954 mortgages drop in hot Market by Rob Ferguson Canadian press Toronto buying or owning a Home keeps getting cheaper As mortgage rates continue to drop to near record Royal Bank led the Way yesterday by lowering rates on mortgages ranging from five to 25 years by fifteen one hundredths of a Point starting the other big Banks soon followed the new changes lower a five year mortgage to seven per cent near its historic Low last fall and a 25year mortgage to a record Low of per it was just two years ago that five year mortgages Cost nine per said Christian Vic president of residential mortgages for the Canadas largest financial the five year rate has now come Down 65 basis Points since she said from her office in that a saving of a that saving is for a Mort Gage amortized Over 25 a basis Point is one on Hundredth of a percentage the decreases have spurred a hous ing Boom and put More Money in Cana lower Bond rates behind Bonus new mortgage rates effective today five year closed seven per six year closed per seven year closed per cent 10year closed per 25year closed per decrease fifteen on hundredths of a Why lower rates in the Bond mar where Banks borrow to finance mortgage Diane pockets As they renew Mort gages at lower mortgage rates have been dropping because signs inflation remains Well under control in the United states and Canada have pushed interest rates lower in the Bond where Banks raise mortgage the Federal Reserve Board raised interest rates a Quarter Point in late March to keep a lid on but recent statistics suggest rates will remain stable Over the next few rates for mortgages with Shorter terms of six months to four years remain the same because there was no change to interest rates in the Short term Bond said Joshua chief economist at mortgage rates Arent Likely to go much lower and will probably Rise slightly in the next few perhaps a Quarter to half a Mendelsohn that not a said i think were looking at stable rates for the next couple of she Doest expect the latest drop will do much to Spur an already hot housing its just a Nice Jeff Debooy Winnipeg free press the Holtmann Henry with wife sons and Ben Kim and with baby Cream of crop rises to top excellence a tradition in farm family of years Rosser Dairy operation by Murray Mcneil business reporter it must be in the or maybe its something in the for three the Holtmann family has operated a highly successful Dairy farm near first there was Heinerich who got the Ball rolling in 1929 after immigrating to Manitoba from in Heinerich handed the reins to his son and Theo and Chris who ran the farm until when they turned it Over to their Henry and although the members of each Genera Tion became prominent and respected members of the provinces Dairy it is and who May be the toughest act to that because they and their Laura and have been selected As farm family of the year in Manitoba by the red River exhibition during a Winnipeg luncheon sponsored by the Manitoba and Winnipeg Chambers of the four spoke about How honoured they Felt to be chosen for such an but according to the general manager of Manitoba milk producers the organization that nominated them for this years award the exhibition associations three member selection committee could it have made a better one of top herds they have Over a number of developed what we Call a Leader Jim Wade said of the who beat out six other semifinalists for this years the Industry turns to them for their thoughts and and it has always been Morris chairman of the exhibition associations coordinating commit praised the family for demonstrating leadership in the Industry in terms of milk Quality and manage they Are outstanding Dairy producers and have one of the top herds in the Deveson the family members also were singled out for their involvement with various agriculture and Community including Manitoba milk the Interlake Holstein club and the Rosser elementary Parent advisory the Holtmann manage a Herd of 270 purebred Holstein cattle on their farm West of they milk about 100 of the producing litres a As the family Sells Hay and Sells purebred Holstein Breeding Stock in National and International and offers custom forage Tony Holtmann said yesterday the Fame Lys goal is to be milking 200 cows a Day within the next six or seven while this May be their biggest honour to its not the first for the Holt three years ago their Rosser was recognized for having the highest Quality of raw milk in Manito and for six consecutive they have been placed among the top 10 milk producers in the Henry Holtmann said the secret to their Success has been his and tonys ability to work Canada Day is a Holiday for but when you take it is a bit Muddy youre looking Forward to the Long weekend or do you have a Long week end to look Forward to just when is that Canada Day Holiday anyway our nations 130th birthday May be officially july next but when you Actu ally get time off seems a bit next tuesday is the Holiday but Many businesses Are giving employees the monday off to give the hired help a Long week the end according to a source at the Winnipeg chamber of is that the City could very Well be shut Down for four those people who will observe the hol iday on the Correct Day it is the country for heavens Sakes might have a mighty slow Day on the you wont be fighting traffic that for said the chamber the chamber source said All government offices Are closed on the tuesday so that professional services like Law firms and account ing offices will be shut As federally regulated businesses like airports and phone companies and broadcasters have to give the tuesday but the chamber spokesman said Many businesses Are opting for taking a Long week end and working the tuesday Jim executive director of the employment standards division of the Mani Toba department of said Canada Day is a general Holiday under Section 35 of the around the workplace Paul Mckie employment standards certain Basic rules retail for dont have a Choice if they have More than four employ they must be closed Canada but manufacturing the hospitality and services Industry and other businesses that might run around the clock Are treated Dif said he said that in operations with a collective agreement there May be provisions for substitution where monday could be designated the Holiday and tuesday is a Normal work Mcfarlane said where there is no collective agreement or no stipulation in the agree substitution can still take but such substitution must be with the consensus of the Mcfarlane said generally a vote of some kind is its an Issue of balance Between the inter ests of the employer and the if there is a Mcfarlane said the Mon Day has to be treated like the real Holiday in All that includes paying people the requisite overtime if they work the there Are exemptions for Indus tries like health care and various seven Day workplaces where working a stat Doest warrant getting overtime pay in those Mcfarlane a Day is Given in still with me sure its which is Why the City is probably going to be dead for four straight Days starting one local company just decided to make it four straight Days of Tim controller for jazz Golf said the company will be shut for four the manufacturer of Golf clubs employs Hodgson said the company feels strongly about celebrating Canada Day on the proper but he was also aware that employees wanted a Long so in a Solomon like aided with discussions with the the hourly wage employees will get monday off without pay and tuesday off with stat were going to play on tuesday and shut the Plant Down on said so its you get tuesday unless you get monday if you work the monday hardly anybody else will be ditto for tues and if you work whatever Day you decide is the Holiday then you get overtime or you what a country Happy birthday if you have news or stones about workplace please Call Paul Mckie at Ca caters to clients in big league City Money manager specializes in tax planning for nil players by Martin Cash business reporter Grant Skinner is a registered agent with the National hockey league players but unlike other agents whose jobs it is to show their clients the skinners Job is to protect their Skinner is a Winnipeg chartered accountant who does specialized tax plan Ning work for about 80 nil and former nil players and another 20 minor league hockey he does not do after 12 years of building Trust among the players and an expertise in the skinners pro ice manage ment group is now getting into the Money management players asking players have been ask ing me to do More for them for a few Skinner said from his modest Winnipeg we made a decision not to do contracts and it is a big reason for our he referring to him self and his tax planning partner based out of los we Are now seen As a resource for agents and were not a skinners pro ice management group already has four players signed on to the wealth management including former Winnipeg Jet Dave now of the new Jersey and Matt a Young defence Man with the Toronto Maple if you asked How quickly this business will i think it will be i dont think its unreasonable to think that the company could grow to have about million under Man Skinner because of the escalating salaries and the relatively similar situation Many hockey players Are in the average salary in the nil is More than million and the average age is in the mid20s it actually makes things easier for a wealth management with conservative and careful these Young Guys should be set for he theres no need for Home runs on risky hitting singles will do the Skinner is one of those examples of a business per son playing in the big leagues in in his search for the right partner for the Money management Skinner said he spent last Winter flying around North America talk ing to people in the Finan Cial services there Are thousands of companies in North Ameri Ca who love to get into this but i chose a made in Manitoba Solu said that solution comes in the form of financial planner Dave a part Ner with Macdonald Shymko and financial planning columnist for the Winnipeg free we were flattered when they asked us to become said what Well do is Intro Duce our clients directly to some of the Best Money managers in North Ameri Ca and they will pay whole Sale rather than retail management said a longtime advocate for fee Only financial planning Christianson has computerized reporting systems where he can co ordinate the results of Sev eral different investments for an easy thread presen tation to the arrangements made he said there Are already arrangements made with Money managers like new York firms Oppenheimer Lazard Freres integral capital manage ment out of and Winnipeg Loring Ward investment counsel along with those Money pro ice has also made arrangements with the brokerage firm Smith Barney in the United states and rec Dominion Securi ties in Canada to help Cri Tique Money management performance and other ser Skinner said his company will earn a fee based on a percentage of assets under after 12 Skinner has 80 nil player ;