Winnipeg Free Press

Winnipeg Free Press (Newspaper) - October 09, 2008, Winnipeg, Manitoba C m y k Page a3 top news Winnipeg free press thursday october 9, 2008 Winnipeg repress. Com a 3 food Banks Tough times feeding the working poor Winnipeg Harvest knew this fall would be Tough but so far its surpassing the worst expectations. Were really concerned really anxious about a lot of things said executive coordinator David Northcott. Harvest expected a difficult season due to rising food and fuel costs but As the economic Shakedown reaches Canada the food Bank has More to fear. Northcott said the group now sees More working poor Manitoban including those hit by recently announced layoffs at Defehr furniture. He expects Winnipeg Harvest could also experience drops in corporate and individual donations. The pressure on the food Bank continues to grow rather than shrink he said. Its worse than we thought. Early this year the organization had a different Outlook. Northcott said the numbers from March of last year until March 2008 showed fewer people using food Banks an encouraging sign. However Over the past four weeks the number began to Rise again. Harvest recently launched a major food drive with 130,000 paper bags sent to free press subscribers to fill with food and drop off at Canada Safeway stores by this weekend. Were now saying that this is a critical thanksgiving for us said Northcott. We need Peoples support because we will be tapped pretty aggressively. Lindsey Wiebe theress no denying the economic doom and gloom. Wall Street is saddled with toxic assets. Stock markets Are volatile in the extreme. Central Banks Are cutting rates to breathe some oxygen into the financial system. And the fear is no longer whether there will be a recession but How Long it will last. Heres a look at How the coming economic storm is already having an Impact and what it could mean for you and your province. Entertainment spending do we really need to see them its often said that the entertainment Industry is somewhat recession proof. During the depression Hollywood movies provided a popular escape for millions. And even in hard times people hate to give up special occasion outings. Still Kevin Donnelly of the its Centre says fewer musical acts will tour in 2009, and those that do tour will have to offer maximum value like the recent pairing of Reba Mcentire with Kelly Clarkson. Not Only concerts but productions like ice shows and circuses will have to position themselves As must see events and be even More watchful on setting ticket prices he said. Donnelly foresees a moderate slowdown of Winnipeg Gas concert activity but said extreme economic fluctuations Are rarely seen Here. Winnipeg Isnit typically a Spike and Valley Market. However an impending recession is a definite concern for the restaurant Industry said Scott Jocelyn executive director of the Manitoba restaurant and food services association. Jocelyn said he has not heard from any worried restaurant owners but the real test May come with the Holiday season which is usually Strong. Were a luxury to lots of people a a he said. When people Are tightening their belts sometimes were the first thing that people remove from their budgets which is obviously very concerning to us. Jocelyn said he does not want to paint a gloomy picture but even Peoples decision to brew their own Coffee instead of buying one can affect the Industry. People May say can i bag lunch it or am i going to go for lunch a those Are the things that Impact us. Alison Mayes starving artists you always need a party its too Early to gauge the effect of the economic crisis on Winnipeg Gas cultural groups because their budgets programming and hiring Are already in place for the 2008 2009 season said professional drummer Tony Cyre Secretary treasurer of the Winnipeg musicians association. Season ticket packages have already been bought. But groups like the symphony Ballet and theatre companies also depend on walkup single ticket sales that could Start to suffer Cyre said. As Well governments May change their funding philosophies if theress less Money to work with. Were All affected by those kinds of decisions. Many freelance artists live a precarious existence from gig to gig Cyre noted. The poverty line is where they re hovering. Any downturn in the Economy thatus real will certainly affect them. On the other hand you always need a party or a band to help you get Over the slow times. Were All hoping that will continue. Alison Mayes charities give till it feels better when the going gets Tough Manitoban gets giving. Thatus the message from local charities who say the economic downturn wont significantly Hurt charitable donations in the province. The really interesting part i think is that in Tough times people generally give More said to Wright United ways director of individual giving. After nearly three decades with the Agency Wright still sees donations Rise year after year and says the same was True even in the recession of the Early 1990s. They say that philanthropy has probably been the most stable Factor in the Economy in North America year upon year she said. The Christmas cheer Board kicks into High gear in november and the groups executive director believes Winni Eggers will once again come through. When there Are difficult times the donors seem to realize that and sort of dig a Little deeper said Kai Madsen. Although i do have some concerns because the unknown is always a concern ism not losing that much sleep yet. However there could be leaner times in store for charitable funding agencies that have invested in the Stock Market. We have a variety of investments that we Hope will ease the pain said Thomas Sill foundation president Milton Mclean. Ism sure there will be pain though. Lindsey Wiebe big projects still on track infrastructure projects in Manitoba Are unlikely to be rocked by the gyrations hitting the worlds financial markets. I dont think this will have any effect on the capital projects currently underway or slated to be done in the near future said Gary Gibson assistant Deputy minister for the Treasury division of Manitoba finance. Ism not concerned about our Access to capital Gibson added. Were ahead in our borrowing program. We keep adequate liquid reserves. Ism not anticipating any of those will be needed. The provincial government budgeted $ 579 million in capital investment for 2008 09, an amount that would largely cover Road and Highway repairs sewage work Park infrastructure As Well As the expansion of the red River flood Way. At City Hall worsening economic conditions could affect the Cit yes borrowing costs for projects such As the proposed rapid transit corridor. But administrators Arentt in a position yet where they have to borrow the $ 89.75 million needed for the corridor through Southwest Winnipeg said the Cit yes manager of financial services. As far As Cost the credit crisis Means the City will Likely pay More for the debt that it issues said Garry Ste ski. Its going to Cost More for that Money than it would have six or eight months ago. In june the City borrowed $ 100 million for work on the new water treatment Plant. It paid 5.4 per cent interest on the loan Ste ski said. If it had to borrow the Money for the rapid transit project it might have to pay about 5.75 per cent in interest. But he was Quick to say the planned borrowing to help pay for rapid transit would not take place until 2009 or 2010, giving world financial markets a Long time to Settle Down. Joe Paraskevas pro sports dont expect to feel the crunch the Winnipeg Blue bombers Manitoba Moose and Winnipeg Gold eyes say their ticket prices Are reasonable they have solid fan corporate support and they re operating in an isolated stable Market far away from the crisis in the United states. But could they be Hurt by this mess possibly it seems but probably Only marginally if much at All. Right now the Manitoba Economys still relatively Strong said Blue bombers president ceo Lyle Bauer. Whats going on in the u. S. Will have an effect on us Here no question but How much remains to be seen. Jim Ludlow president and ceo of True North sports and entertainment which owns the Moose said the teams season ticket base is already at last years Levels. Not that were not concerned but wed like to think. Its a product that people Are going to feel comfortable buying. Added Gold eyes pm Andrew Collier i dont think anybody is going to be immune from whats going on. People dont have to go to baseball games they dont have to go to hockey games they dont have to go to football games. Chris Cariou a 03_ oct 09 08. Ind a3 10/ 8/ 08 8 07 13 pm ;