Winnipeg Free Press

Winnipeg Free Press (Newspaper) - May 16, 2000, Winnipeg, Manitoba B4 editor Julian Rachey 6977235 Winnipeg free press May 2000 business interest hike wont curb spending canadians Are following trend and spreading More Cash around by Sandra cordon Ottawa interest rates May be climbing but analysts say North american economies Are still growing and Consumers Are spend ing happily with no signs of analysts Are also virtually unanimous in predicting a Bank rate increase today of half a percentage Point to curb a question Mark is whether the Bank of Canada will match the full fed eral Reserve hike or nudge up interest rates by on Quarter of a percentage a flood of economic data this week from recent wage settlements to the lat est consumer Price Index All show a Canadian Economy steadily growing with Little that suggests bolstered by the Economys Stock Market gains and relatively Low interest will continue their spending till take More than a few rate hikes to Cool says Doug senior economist at brokerage Nesbitt Burns in seen this Wall of wealth hitting households in the United states con Sumers buying Power is still said when you stack up per cent interest rate increases against that Wall of it really didst stand a since last the rates in the United states have risen five each one Quarter Point at a Canada has had three Quarter Point Consumers in where the expansion is Are less bullish than those South of the but Are becom ing More the wealth effect is More of an Echo said but there Are signs canadians Are one of those is retail sales data which on thursday should show modest growth of about per mainly in Auto its not blowing the doors but its still relatively said Rick Egle Deputy chief economist of Bank of Consumers also have More Money wednesdays wage settlement statistics Are expected to show pay cheques fattened by about per cent from last the Cost of living remains april inflation due thurs should show Little change in the Core remaining around per while the Overall rate should drop to about per cent from three per that reflects falling Oil prices that sky rocketed last economic data has been weak in recent months but analysts dont think that indicates a we think the Canadian Economy is still Strong and these soft numbers we had seen was a bit of a not a slow said it shows Canada Hast been growing like the re hot Economy and suggests there is Little Domestic need for rate if the Bank of Canada Doest follow the fed hikes which could total More than one full percentage Point before the year end then the currency will take it on the said Mario senior economist with Standard and poors mrs in the loonie suffers when interest rates Here fall below those in the United investors pour More Money into investments when they offer a higher rate of Canadian press Cibic sets up Interne based Bank for Small business customers by James Stevenson Toronto the Cibic announced plans yesterday to create a new inter net based Small business Bank that offers Nofee Low Cost Loans and other cheap products and services to tiny the new called is a collaboration with business depot and others designed to provide a one Stop shopping concept for Canadian businesses with four employees or while primarily an internet Biz smart will also have manned kiosks in business depot stores across Cibic said it will hire and train approximately 100 new staff across the country to work for Biz smart will be an outstanding new offer for Small Mike Peder a Cibic senior executive vice pres told a news conference Wiir analysis shows that the average Biz smart member could save More than As Well As a lot of pre Cious Small businesses who sign up with Biz smart will get Nofee trans an unsecured line of credit with Low monthly payments and a Nofee Small business visa continued please see Stock rises b5 Phil hos suck Winnipeg free press Little says the extra room in a minivan appeals to both Young families and older minivans speeding out of Manitoba dealerships rumours of family haulers demise greatly exaggerated by Murray Mcneill big sales come in Small Manitoba Auto dealers Are finding As buyers continue their love affair with statistics Canada released figures yesterday which show sales of which includes were up a robust per cent in Manitoba from february to March of this year compared to and much of that increase was due to higher minivan according to Larry pres ident of the motor dealers association of and Gerry president of Midtown Ford sales and a former dam everybody was predicting their demise three years Little said of the but they Van sales just keep Vickar said some of the latest gadgetry added to vans such As Vars and tvs is attracting younger buy ers while seniors find minivans easier to climb there is still a great popularity in he although statistics Canadas figures dont separate truck and Van Little said Auto Industry figures show there were 696 minivans sold in the City in january and february of this year compared to 463 in the same two month period last while the Industry numbers for March and april Haven been released Little said he expects them to show a similar trend towards higher minivan its a pretty utilitarian Type Lehi Little said of the noting the extra room appeals to both Young couples with children and to older Cou Ples who May no longer have Young ones at but who like having the extra space to haul around things such As Golf bags or supplies for the cot he cited the Case of one couple in their 70s who bought a new minivan from his Dealership last they used to own a switched to a car a few years then switched Back to a Van because they just liked the the statistics Canada figures show that sales of passenger cars also were up per cent in Manitoba in March compared to in february and that helped boost Manitoba Over All new vehicle sales total for March to units on a seasonally unadjusted increase of per cent from on a seasonally adjusted the increase was a More modest per cent from february to March of this year compared to and four per cent year Over year March to continued please see minivans b5 web takes clearance Sale to the cyberspace masses by Geoff Kirbyson Patrick Byrne Calls his email web site a toll Booth on the information Highway to the 37yearold chief executive offi cer of Utah based offers customers a plethora of High end con Sumer goods that sell at a Steep discount from the company buys overproduction from manufacturers and Stock from firms going out of business and blows it out to individual Consumers at an aver age discount of per cent below goods Range from big screen appliances and Home furnish Ings to consumer electronics and gift in bypassing outlet jobbers and Moman pop operations and offering goods straight to the Over is Able to eliminate several layers of distribution and we buy the goods at 35 cents on the Dollar and sell them for 40 that our he is now the 30th biggest email site on the internet with approximately million in sales each builds business on deep discounts Byrnes Market is slow moving inventory that manufacturers Are unable to unload because they Arent set up to sell to individual and they cant sell it to their traditional retail outlets for fear of Sale Schannel for is not going to sell leather handbags to a major retailer for one month and come Back to them a few months later wanting to sell the same bag for for one sales people dislike the practice because of lower commissions for Selling lower priced As the next time Gucci makes a sales the retailer is Likely to pass on the original offer and instead wait for the goods to be Dis counted at some Point in the Byrne said has the bottleneck Between Consumers who want to get this Type of merchandise and the Consumers cannot go to the manufacturer and get the steeply discounted liquidation neither can Small or Large for people sell ing High end products in the offline we just set up a six Lane super Highway next to your toll Byrne said he expects to launch Over in Canada by before Tak ing on the latin american and asian canadians can Purchase goods from the site but have to pay inter National shipping Byrne said his clientele is 65 per cent but half the Revenue comes from men because they buy More expensive Byrne addressed an mba internet marketing class at the University of Manitoba last night As part of its distinguished ceo lecture heals spoke to a breakfast meeting at the Winnipeg chamber of yesterday Byrne predicted email will not eliminate traditional retail shopping but Wujs simply be another in much the same Way cd Al cont Mues to serve its not going to be up per cent or 100 per gent or anything Ujke gut the real Beauty of the internet is Nat just As a store but using it to manage your Supply shr Byrnes cuts overhead by Selling directly to finding supplier Tbs Mtsat least As pow he called much of the internet Active people actually an a Toul 60 though the same learn log curve of somebody Peisea super without iut sri hundreds of if not of dollars have been burned by people Pur k suing dumb ;