Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 3, 2006, Winnipeg, Manitoba B business thursday August 3, 2006 Dow 11,199.93 74.20 a p tax 11,969.86 62.21 Dollar 88.73 0.29 Nash a 2,078.81 16.82 � u. S. � u. S. Editor Steve Pona 697 7292 business free press. My. Ca i Winnipeg repress. Com i b 5 by Murray Mcneill the company kept them hopping in the first half of this year and it does not look like great West life cons Deal makers will be getting much rest in the second half either. With the Ink barely dry on two blockbuster deals that were completed in the second Quarter of this year the Winnipeg based financial services giant is already working hard at trying to Complete one or two More major transactions in the second half of the year its chief executive officer said yesterday. Ism hopeful Ray Mcfeeters said in an interview yesterday. We Are not anywhere near concluding a Deal just yet but were certainly having some discussions. He said the company is working on potential acquisitions in both the United states and Europe. However negotiations Are further along in the United states he added so thatus Likely where the next transaction will occur. Mcfeeters was commenting after g w life co announced a profit of nearly half a billion dollars for the second Quarter of this year. The firm said it had consolidated net earnings of $ 461 million or 51.6 cents per share for the three month period that ended june 30. That was a 3.4 per cent improvement Over the $ 446 million or 50 cents per share profit recorded in the second Quarter of 2005. We had a great Quarter an upbeat sounding Mcfeeters said during a conference Call with Industry analysts. In Many Many areas we have very Good results for which we Are very pleased. The Strong second Quarter performance boosted life cons net earnings for the first six months of this year to $ 907 million or $ 1.01 per share. That was up 4.9 per cent from the $ 865 million or 97.1 cents per share profit recorded in the first half of 2005. Mcfeeters also noted the second Quarter results did not include any contributions from the two big blocks of new business acquired in the two blockbuster deals concluded during the Quarter. They included the acquisition last month of the corporate defined contribution pension plan businesses of metropolitan life and two of its subsidiaries and the May Purchase of the not for profit pension annuity business of England based the equitable life Assurance society. The me life Deal added $ 7.5 billion us in assets to life cons Denver based subsidiary great West life & annuity insurance co. And made it the second largest provider of retirement plans to state governments in the United states. The equitable life Deal meanwhile added 130,000 new policies with liabilities and assets of about $ 9.3 billion for life cons Canada life limited subsidiary. That addition nearly doubled the size of Canada lifers United kingdom pay out annuity business. Continued please see great West b 7 by Larry Kusch m Manitoba vegetable growers Are enjoying the Sunshine one year after a wet Spring and an Over abundance of rain ruined Many Fields. Crops Overall Are excellent said Larry Mcintosh president and ceo of Peak of the Market which Sells veggies on behalf of 5s0 Manitoba growers. We have irrigation on much of our land so that helps us get around the Lack of moisture Issue he said referring to the hot dry weather thatus put stress on Cereal and oilseed crops this summer. The Quality is very Good and the Quantity is certainly average or better depending on the crop Mcintosh said although he added prices Are a Little lower this year because vegetable production is up in Western Canada. He said crops that thrive in hot weather such As Zucchini have done especially Well this season. Peak of the Market normally Sells about 1,000 25 Pound cases of Zucchini a week during the growing season but this year it is shipping 6,000 cases. Thatus meant having to find Distant markets for the crop. Dave Jeffries who has been growing vegetables for 45 years near Portage la Prairie said his farm has loaded Zucchini by the Semi trailer Load this season and shipped them to Kentucky. Zucchini Squash continues to produce As Long As you Harvest it. So we actually pick it every two Days said Jeffries who planted 18 acres of the Veggie this year. Weave just been getting More every two Days than i would say is Normal. Jeffries Bros. Vegetable growers Dave farms in partnership with his brother Albert produces carrots parsnips rutabagas cucumbers Zucchini and a variety of Winter squashes As Well As Daikon an Oriental radish. During the Harvest season which has just begun Jeffries Bros. Employs about 50 people including 14 from Mexico. Carrots Are the farms biggest crop taking up 350 acres and this years production is average to a bit better than average Dave Jeffries said. They crop yields seem better than average because last year was such a Tough one he said. In 2005, Jeffries and other growers Plant crops on some Fields because they were too wet in Spring. Other Fields were later drowned out by heavy Rains. Jeffries estimated his Overall vegetable crop last year was about two thirds that of a Normal crop. This year his veggies Are doing Well and have so far not fallen victim to the heat thanks to irrigation. Irrigation is what i consider an insurance policy the grower said. Last year we hardly used it at All whereas this year its hardly got shut off at All. Its been running pretty steady. Mcintosh said the hot dry weather has affected the provinces potato yields As not All Spud growers have irrigation. If wed had Rains we would have had a huge crop of potatoes. Now its probably going to be More average he said. Larry. Kusch free press. My. Ca. Peak of the Market founded in 1942, is owned by 50 Manitoba vegetable growers. It Sells 120 different veggies from asparagus to Zucchini. Potatoes make up half the organizations sales followed by carrots 15 per cent and onions 10 per cent. This seasons locally grown veggies Are now hitting grocery store shelves largely replacing u. S. Produce. They include Beans beets Broccoli carrots cauliflower cabbage Corn cucumbers rutabagas Daikon kale Leeks Green and cooking onions Jalapeno peppers red potatoes radish and Zucchini. Others such As parsnips Squash and russet potatoes will be available in the next several weeks. Since last december Peak of the Market has also been Selling a line of vegetable soups. Peaks sales have averaged More than $ 50 million a year in the last four years. Source Peak of the Market great West looking for More deals vegetable crops thriving hot weather producing Banner Zucchini season for growers Phil Hossack / Winnipeg free press Dave Jeffries shows off his impressive Zucchini crop. Yields have been so Good Peak of the Market has been searching for Distant markets. A peek at Peak of the Market ;