Winnipeg Free Press

Winnipeg Free Press (Newspaper) - August 22, 2006, Winnipeg, Manitoba b8 Winnipeg free press tuesday August 22, 2006 business continues final chapter in Brex trial begins Exchange Industrial fund boosts distributions Exchange Industrial income fund celebrated a record Quarter by increasing its distributions by 10 per cent. The Winnipeg based fund which owns a pair of regional airlines perimeter aviation and Keewatin air As Well As Jasper tank an Edmonton based manufacturer of steel tank trucks reported net profit of $1.4 million 55 cents per unit ? its highest earnings since becoming a Public company More than two years ago ? for its second Quarter ended june 30. That a up from $1.0 million 79 cents per unit for the same year earlier Quarter and from $1.1 million 43 cents per unit for its first Quarter of the year. The fund announced it is raising its distributions from 10 cents per share per month to 11 cents to shareholders of record at the close of business aug. 31. Mike Pyle the funds ceo said All three of its business units posted High sales during the three month period. It was a Good Quarter for us he said. Pyle noted perimeter represented More than half of its $22 million in Rev Enue for the Quarter. The funds units closed up 20 cents yesterday to $12.20 on volume of 3,025. By Romina Maurino t Oronto ? after six years in court and billions of dollars lost from a Gold salting hoax lawyers in the trial of Brex Miner als Ltd. Chief geologist John Felder Hof began closing arguments yesterday to determine whether the Man accused of lying about the firms indonesian Gold Deposit will go to jail. That should Mark the final chapter in a trial that stems from events nine years ago when Brex collapsed after a Gold exploration fraud at the Busang mine in Indonesia wiped out about $3 billion in investors Money. Felderhof a lawyer argued yester Day that prosecutors must prove his client knew Gold test results had been tampered with or acquit him of insider trading because he did to know four news releases were false or mislead ing at the time Brex issued Felderhof is accused by the Ontario securities commission of Selling $84 million Worth of Brex Stock Between april and october 1996, while having information that was not disclosed to investors. Shares of Brex a Junior mining company based in Calgary began trading As a Penny Stock on the Alberta Stock Exchange but soared to More than $230 a share at one Point Mak ing it the Darling of tens of thousands of Canadian and International investors. The company eventually collapsed As did the investments of thousands of canadians when a review by a big . Miner looking to buy the fabled Busang Deposit found the development was worthless. The news shocked Bay Street analysts financial journalists Money Man agers and the big Bank brokerages who had followed the frenzied trading in the Stock for More than two years with Little Independent analysis of whether the company had in fact discovered Gold. It was eventually revealed that Sam Ples of Busang Gold were tampered with in a Gold salting scheme where Gold dust was sprinkled into crushed Ore to enhance the Mineral readings from the mine. Felderhof has pleaded not guilty to eight charges of insider trading and misleading investors. If convicted he faces penalties ranging from a Fine of $1 million to imprisonment for two years plus additional financial penal ties of up to three times any profits from insider trading. ? Canadian press Canadian press archives John Felderhof faces fines jail automakers must Tell owners about Black Box by Ken Thomas Washington ? automakers will be required to Tell owners if their vehicle has an event data recorder commonly called a Black Box and collect uniform data from the devices the . Govern ment said yesterday. In the seconds before during and after a crash event data recorders can pro vide information about a vehicles Speed and acceleration whether air bags were deployed the brakes were applied or seat belts were being worn. The National Highway traffic safety administration said beginning with 2011 Model year vehicles automakers will need to disclose the existence of the technology in owners manuals. The data recorders also will need to be More durable to protect the information during a crash while requiring the Auto Industry to collect a uniform amount of data to help in the develop ment of new safety regulations. With More than 40,000 . Motorists killed on the roads each year support ers of the Black boxes contend they give investigators and automakers an Exten Sive database that can help them design better vehicle safety features and improved roads. But some privacy experts worry that the information could be accessed by anyone and also argue that most motorists Don to know the Black boxes Are installed in their vehicles. About 64 per cent of the 2005 Model year vehicles have the equipment. Gen eral motors corp. And Ford motor co. Currently install the devices in virtually All new vehicles. The rules do not require the data recorders to be used in All new vehicles despite past recommendations from the National transportation safety Board that the devices be mandated. ? associated press 3.7lv6, auto., air tilt cruise pad Podl trailer Tow grp., Security Gap. More. 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