Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 2, 1997, Winnipeg, Manitoba Winnipeg july Brandon chartered accountant Donald Penny has been elected chairman of the Canadian Institute of chartered Penny officially assumed the chair mans Post at the institutes annual Gen meeting last week in the managing partner of Western Canadas largest regional accounting Meyers Norris Penny Penny has previously held a variety of executive positions with the Institute of chartered accountants of including treasurer and the c1ca sets accounting standards for not for profit organizations and govern it also issues criteria for control publishes professional lit develops continuing Educa Tion programs and represents the chartered accounting profession both nationally and two co founders of Winnipeg based inf corp computer solutions have received red River Community col Leges distinguished alumni Ron Burnell and Wayne Loeppky received this years award for their contributions to inf corp and to Man Tobas business Rocc Burnell and who Are graduates of the colleges computer Ana Lyst Programmer created the Point Sale management software that inf corp Sells to the retail Rocc noted that a variety of Winnipeg retailers now use the including House the Winnipeg Art and United army surplus Federal civil servant Ronald Stoesz has been elected president of the society of management accountants of who is chief financial management of accounting operations with the Winnipeg offices of human resources development has been elected to the Post for a oneyear other members of the society new executive Are first Vic president Lorna second Vic president Susan and Secretary trea surer Steve Winnipeg Assiniboine credit Union has a new chief executive Al the credit unions chief financial was named to the Post after an extensive National compete Assiniboine Board of directors who has been with the credit Union for 17 succeeds Rief Tard who took Early retirement after 17 years As Assiniboine top manage ment prior to joining Morin worked for six years with credit Union Central of Tony de a former director of information technology for the province of has been appointed Vic president of the West Ern Region for progestin International de Luca succeeds Vince who was recently appointed Vic president of progestins year 2000 a native of de Lucas most recent position had been As director of the Western Region for Calgary Der progestin International is an Otta abased computer and manage ment consulting it also has an office in Brandon insurance broker Greg huts Al has been elected president of the insurance brokers association of of Dick was elected to the Post at the imams Confer ence and general meeting which was held recently in Imam is the association represent ing about 70 per cent of the general insurance brokers and Auto Pae agents in among the issues huts Al said hell be addressing As president Are the ongoing attempts by the Banks to enter the property and casualty insurance safeguarding the interests of general insurance con Sumers and ensuring that the inde pendent insurance brokerage distribution system remains Terri Sawyer has been appointed executive director of the variety club of in announcing Sawyers appoint the variety clubs chief Deb noted that Sawyer has been the organizations coordinator for the last three so Shes completely familiar with the organizations successes and Chal Kocen we Are confident that Terri will raise variety profile in the Community and extend our partnerships in the corporate Kocen this will enable us to fulfil our Man Date of raising funds to improve the Quality of life for disabled and disadvantaged children in got a an appointment of a new contract fax or phone the free press business 13s5mountain or fax Canadian Economy settles comfortably into growth pattern Canadian press Ottawa the Canadian Economy has settled into a comfortable growth Pat Tern after the Gross Domestic product in april turned in its Best monthly performance in almost three economists said statistics Canada said the Gap Rose per cent in following a decline of in but aprils broadly based across the was seen As More than just a recovery from Sherry chief economist at Nesbitt said growth has been accelerating steadily for More than a with the exception of the March and should remain buoyant for the balance of while aprils Advance May have partly reflected a rebound from March growth is expected to remain quite Strong in the next two she monthly economic growth in Canada has now averaged per cent in the first four months of the year ver sus in the same period of improved prospects show up most in Job Cre employment in april and May averaged per cent higher than the first Quarter growth in retail led by automotive prod resumed in april after a per cent decline in retail sales have increased by an average of per cent a month so far this activity in the whole Sale sector jumped per cent in manufacturing production Rose per with production of durable goods account ing for most of the in mean consumer spending Rose per cent in May bolstered by an identical increase in personal its the latest evidence of mod Erate economic growth on the eve of the Federal reserves interest rate setting new Home sales shot up per cent in rebounding from a big loss just a month ear systematic withdrawals avoid Low interest rates by Rob Ferguson Canadian press your Money t Oronto there one Way seniors or anyone else relying on investment income can get around the problem of Low interest people in the investment world Call them Short for systematic withdrawal the plans can provide a regular income from gains in Stock based Mutual which have generally been paying higher returns than fixed income investments like guaranteed investment How much higher the Toronto Stock Exchange Benchmark Index of 300 stocks Rose per cent in a two year period ended last Gic rates have fallen below five per cent from Over 10 per cent in the late 1980s and Early during resp season we had a lot of people coming up to us at seminars i just didst Bank on these rates and my Cash flow is half what i thought it would says Elizabeth Hoyle of Trimark Mutual these plans Are a great Way to steer your Way through a Low interest rate but its important to avoid steering into the warns Mike an Independent Finan Cial adviser and Syndicate columnist based in these plans work beautifully if youre taking out something like six per cent of your Money and the Mutual fund is going up by Well Over then theres the ugly where the Stock Market or Mutual fund takes a dive and the Reg ular withdrawals eat away at your capital the original seed Money for the if that Contact the Mutual fund com Pany or broker that set up your plan and suspend it until things Grenby these plans Are flexible and there but you have to know what youre doing and keep in he recommends that investors Check whether tips on using ships some tips on systematic withdrawal plans set up by some financial brokers and Mutual fund what Are they regular payments of income generated by investments such As Stock based Mutual who uses them mostly retirees who want to take advantage of capital growth in the value of Stock based questions to ask can you suspend the plan if Mutual funds drop in value Are there commissions administration fees quote these plans Are a great Way to steer your Way through a Low interest rate Elizabeth Hoyle of Trimark Mutual a plan can be suspended on Short notice before signing on the dotted investors should also ask if there Are any administration commission fees or minimum investment says Murray Leiter of financial consultants in Trimark warns that there Are some people who bother with systematic withdrawal plans from Stock based Mutual that because unlike gics or Bank Mutual funds Arent guaranteed by Federal Deposit if the Stock Market or your Mutual fund your Money is if you Are not prepared to understand the Day today volatility associated with the Stock Market youre not prepared to Deal with a financial then its probably not for says of systematic withdrawal plans can also be set up for any kind of including Stock Money Market Mutual funds and to avoid hefty tax plans should be based on investments outside Winnipeg free press Lucky number contest win a share of up to win daily with Lucky numbers w05754076 w05083547 w05176238 w05179838 w05332315 Winni double your winnings As a 7day Home delivered subscriber you Are eligible to win a share of up to with your free press Lucky each Day the free press will publish 5 Lucky it your Lucky number appears and you correctly answer a time limited skill testing you Are a Winner winners win you Pouble your winnings As a 7pay Home Peeve rep you must Call 697 7144 on the Day you become free press Story for years Call 697 7001 to subscribe Tokayi or 18005428900 win a trip for two to Las vegas with your ky58 Luky number tour Tosy off travel every weekday morning listen for your Lucky youll have minutes to Call 7805858 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the Day you become correctly answer a skill testing question to colled your you you must the real tigers and the discovery Channel nothing connects you like As a you can improve positioning and readership of your advertising message by advertising on the top of it classified for More information Call Dolly or Ken it raises every automotive except Reask prom for More Caw or visit Lone Star motors 854 Nairn 6672467 Mac with Down or equivalent plus 1st payment Deposit on optional Hutu us of or f business watch elevator planned Winnipeg based Neer Grain has announced plans to build another new High throughput con Crete elevator and farm service Centre in the new which is to be built just North of is the seventh multimillion Dollar construction project announced by Pio Neer in the last construction also is either under Way or is in the planning stages for three similar facilities in Saskatchewan and three in Mani the other Saskatchewan ele service Centre complexes Are located in Swift cur crooked River and while the Manitoba facilities will be located in Roblin and rating could drop Toronto up the Royal Bank of Canada could see one of its credit ratings lowered a notch if it pays billion to buy London insurance group Canadian Bond rating service has placed the country largest Bank on credit with Nega Tive citing the deterioration of royals capital analyst Maria Barlettano said the Banks Pursuit of Stellar profit and return inequity figures has camouflaged an underlying deterioration in capital while the Banks financial Posi Tion is still very she the deterioration of Core capital ratios makes them look weaker relative to other Nabanita royals vice president of investor charged that the Agency published ratings Alert is based on erroneous Royal Bank enjoys the Agency second highest rating of plus High for Lon term let ters of credit and business purchased up Mccain foods says its Purchase of the Foo service business of Ore Ida foods has pushed the new Brunswick company into the 2 spot in Frozen French Fry and Appe Tizer sales in the United this is a major Purchase for Mccain company chairman Harrison Mccain said monday As the us acquisition was the Deal with a subsidiary of includes potato processing operations in and and appetizer plants in fort Rice and grand open pit mine closing Black up lab Chrysotile has announced that one of its mines in Quebec Eastern townships will close in the open pit mine known As the British Canadian mine is one of three lab Chrysotile operates in the the mine closure in Black Lake will mean the loss of 300 jobs and million in annual Bank makes Deal new York a in yet another example of the convergence of banking and the securities Busi nation Bank has announced it has an agreement to buy Montgomery securities for the Deal had been rumoured since last week and represents the fourth recent acquisition of a securities firm by a big behind the combinations is a loosening of Depres Sion Era Laws designed to separate the two Boma Manitoba building operator of the year Wai Leung Kevin Mcquany and Wayna Pratt join the management Anco staff of copters Pratt my mrry in Wai Yeung who has been named poll Dong operator of the year for 1997 by building owners managers association Boma this award for excellence recognizes achievement and performance in the area of efficient building a valued employee of Colliers Pratt Mcquany since Wai currently oversees the operation and maintenance of four major downtown Winnipeg properties totalling Square ;