Winnipeg Free Press

Winnipeg Free Press (Newspaper) - June 2, 2000, Winnipeg, Manitoba Winnipeg free press june 2000 b5 editor Julian Rachey 6977235 West Jet will go East More airline says expansion to add six More Hamilton flights per week Winni Eggers will have More options for flying to Eastern Canada after West Jet airlines announced plans yesterday to add six More flights a week to Hamilton beginning next the Startup of the new flights coincides with the launch of the airlines new daily service Between Hamilton and the airline already offers 11 flights a week Between Winnipeg and Hamilton and now Ottawa is being added to the with further plans to include a Stopover in Montreal by some time this in addition to beefing up its weekly service to Eastern the Calgary Low fare Carrier also announced plans yesterday to add another seven flights per week Between Winnipeg and Siobhan the firms director of Public said two new flights will be added on june 8 and five More on june that will bring to 27 the number of flights per week Between the Manitoba capital and Vinish said the company added More flights Between Winnipeg and Hamilton because it was launching the new ser vice Between Hamilton and its adding More flights to Calgary because traffic volume warrants she its a very Strong route for us Between Winnipeg and Calgary and its continuing to she she said that May be due in part to More business travel Between the two cities but its also due to West jets lower Phil Hossack free press were not losing were gaining something we president Ken Cooper said Winnipeg Stock Exchange leaving on a High note 96th and general meeting upbeat by Geol Kirbyson nobody would have been surprised if the mood at the Winnipeg Stock exchanges 96th and last annual general meeting was but with the demise of Canadas smallest Exchange just weeks the Atmos phere at the event was positively were leaving on a real High said Guy chairman of the we and chief executive officer of Bieber adding there Are nine deals in the works at the Exchange ranging from initial Public Keystone sponsorships and even an inter listing from the Nash a inquiries for listings has never been Bieber last the we decided that with the increasing globalization of Finan Cial its Only Chance for Long term survival was to merge with the Canadian venture the off Spring of the marriage Between the Vancouver and Alberta Stock legislation closing the we and opening a local Branch office of the six Montgold Canadian venture Exchange should be finalized by the end of the Ken president of the told the crowd of 40 at the Richardson building that the merger represents a culmination of the transformation of capital markets in Manitoba during the last few were not losing were gaining something said Coop who through the last year of negotiations with the negotiated himself right out of a Cooper said through the technological advancements since the rebirth of the we in securities markets and information sources on listed companies Are More widely available and easily accessible than Ever and helped by those Public participation in equity investments has More than doubled in the last 10 he noted the we is far from the Only Exchange to undergo a major overhaul with the Toronto Stock Exchange having been the Montreal Exchange no longer trading equities and virtually every Exchange throughout the world either merging or searching for a the we finished its 1999 fiscal year with retained income of Down from the year listing fees were last up from in but when All was said and the uses Cash position ended up at at year up from a year but even when the we ceases to exist As an it will live on As a nonprofit it will serve several purposes in this including As an advocate for Public an educator for both the Industry and investors and to enforce the five year agreement Between the we and the Cooper said he has Little planned beyond going biking and spending some time at the Lake this but he Hopes to make a decision on his future in the notto Distant he said he could remain in the invest ment Industry in some or he could return to real estate develop ment or two sectors where he spent time earlier in his client owes openness to adviser investor should state air fares making Leisure travel More affordable for More they Winni Eggers understand the concept of Low fare she you have a lot of very value focused people West Jet said Winnipeg is one of a num Ber of cities in Western Canada that will be getting extended service after the air line acquired another Jet to add to its existing Fleet of 15 Boeing 737 Vancouver and Calgary Are getting More departures out of Saskatoon Are a couple of weeks we Dis cussed a supreme court of Canada decision that May enhance the potential liability and duty of care imposed upon investment this i would like to talk about the responsibilities of clients in the investing and financial planning part just As we advisers can improve our i systems and methods and be reminded of the Standard of care we need to pro r investors need to remember that their behaviour and Hon with their advisers can also have a huge effect on lets Start with openness and Hon As a fee Only planner who Doest sell i perhaps have a unique insight into what people Are really thinking about their brokers and people come to us because they Are unsatisfied with some aspect of their current relation ship either there not getting the types of services they the level of service or the appropriate inform my first question is always have you told your broker this have you asked for what you want this is an important first expectations clearly sometimes the answer is that Treyve tried to talk about but they dont feel the adviser is i know that is the Case on other times the clients admit Treyve never made their expectations they have failed to give their broker or adviser a Clear Job sometimes the services want can be provided quite easily if they just ask for other they Are not but As in any you owe the other person the right to respond to your expectations and state clearly whether they can be met or and you can be As demanding As you As Long As you state your demands out if the adviser cant meet they should Tell you that with equal honesty and investor psychology is another we All want to Chase the latest High but this will usually get us into Many your adviser is the person with the experience and patience to keep you balanced and out of lets use Bell Canada enter Prises As an for brokers recommended Bce to you As a solid Stock to own because of its reliable Divi it was considered the ultimate widows and orphans then came the Boom in telecommunications and technology stocks Over the last couple of years and the Remak ing of bees subsidiary Nortel into a dominant player in the network Indus All of these factors allowed the share Price of Bce to multiply by something like eight As this was Bce gradually became an inappropriate Stock for conservative the responsible investment advisers pointed this out to clients and in some cases suggested they sell some Bce to limit their growing exposure to this now volatile continued please see state expectations 16 increasing by 26 per cent and a sunday night flight from Grande Prairie to Edmonton is being added for the sum Mer we Are pleased to be solidifying our commitment to Western Canada through added options on some of our most pop ular West Jet president and chief executive officer Stephen Smith said in a written our total service has increased by 31 per cent since March 2000 and we Are continuing to build West Jet into canadians alternative for affordable travel this West Jet currently serves 14 Canadian attention shoppers Saan sold troubled 280store Chain bought by unnamed retailer by Murray Mcneill after months of Gendis has found a buyer for its Saan stores on the eve of its annual general meet the Winnipeg based company released a terse statement late yester Day afternoon saying it has signed a let Ter of intent to sell the wholly owned Saan stores subsidiary to an unnamed the statement said the Sale is subject to the signing of a definitive share Pur Chase agreement and a 90day period of due the identity of the Pur Chaser and the terms of the Purchase will not be disclosed until after that process has been it added that the Deal is expected to close on or about in a later Telephone interview from his Winnipeg Geniss president and chief executive officer Allan Macken Zie refused to discuss the details of the in contractually obligated not to Dis close who the party is or the Range of Mackenzie All he would reveal is that the buyer does have previous retailing Gendis put its 280store Saan Chain on the Market last saying it wanted to concentrate on its real Oil and natural Gas it later pulled the company off the Market when the collapse of the Eaton retail Empire made it a bad time to be trying to sell another clothing and general Merchan dising then late last fall we were approached by several different Mackenzie said this the new buyer was one of he said negotiations began in Early Winter and culminated with yesterdays signing of the letter of Mackenzie said Gendis employees were informed yesterday that a letter of intent has been but were not told the identity of the Mackenzie said Hes confident the Sale will be finalized once the due Dili gence process is he refused to speculate on what plans the buyer might have for the retail which has been losing Money in recent years and had been undergoing an extensive restructuring that was to see As Many As 25 Saan stores and All 33 of the company red Apple clearance Centre outlets close by the end of this Banks earn billion in second Quarter last years record May fall by Paula Arab and James Stevenson Toronto Canadas six biggest Banks continue to earn massive reporting billion in earnings for the second thanks in part to a Stellar Stock Market and thriving that a tidy million More than last years tally for the period and a Good head Start i surpassing 1999s record annual profits of Cibic reaped in the largest a Large chunk of was due to onetime gains on the Sale of its Bank towers and of shares in telecoms services company global crossing which also released its numbers turned a profit of it was certainly a very Strong Quarter for particularly on the Rev Enue said John a Cana Dian Bank analyst with Salomon Smith Barney in the Royal Bank reported record net profits of million for the three months ending april followed by the Bank of Montreal at Mon trea based National Bank earned a prof it of Toronto Dominion reported a net prof it of but that figure belies an operating income of the Bank took a million restructuring hit As part of its plan to absorb Canada which it took Over earlier this to plans to close branches and chop about jobs Over three years As it consolidates Canada trusts All the Banks enjoyed Large gains from equities trading and wealth management investing Money for wealthy clients during the Spring Cibos record up by 125 per cent from a year were largely boosted by a after tax gain on the Sale of million shares of Bermuda based global and a after tax gain on the Sale of Cibos real estate holdings in seven cities across the gains were partially offset by an after tax increase in provi Sion for bad our balance Sheet is in excellent Cibic chairman John Hunkin told analysts Hunkin took Over Cibic last year with a Promise to Cut costs and restructure the Bank after its financial performance and share Price had lagged those of its Canadian Halfway there the which plans to chop operating costs by million annually by the end of this fiscal said it is Only Halfway there but should meet the tar Cibic said it has closed 67 branches so far this with a further 24 to shut by Scoti Abanks profits Rose 21 per cent from last years second Quarter but it want enough to top its record performance in the fourth Quarter of 1997 of others had but we did main Tain our positive earnings Peter Scoti Abanks chairman said in a conference Call from where the Bank held a Board meeting we think the real Story and the key Story is that we had very Strong growth in our Core revenues and these Are he Canadian press ;