Winnipeg Free Press

Winnipeg Free Press (Newspaper) - July 24, 2013, Winnipeg, Manitoba C M Y K PAGE B5 winnipegfreepress. com CITY WINNIPEG FREE PRESS, WEDNESDAY, JULY 24, 2013 B 5 FIND YOURS AT CHOOSENISSAN. CA OR YOUR LOCAL RETAILER SALES EVENT MY NISSAN 0 % FINANCING FOR UP TO 84 MONTHS � ON SELECT MODELS PLUS CHOOSE * FROM 40 or � OFF GAS UNTIL 2015 1 / L 2 PAYMENTS ON US 2 or NO CHARGE 5 YEAR/ 100,000 KM EXTENDED WARRANTY 3 . STANDARD 5.6 L DOHC V8 ENGINE WITH 317- HP AND 385 LB- FT TORQUE, 9,300 LBS TOWING CAPACITY . FACTORY APPLIED SPRAY- IN BEDLINER W/ AVAILABLE UTILI- TRACK TM CHANNEL SYSTEM WITH BEDSIDE STORAGE BOX . PLUS MANY MORE AVAILABLE INTUITIVE ALL WHEEL DRIVE . FIRST- IN- CLASS WITH AVAILABLE AROUND VIEW � MONITOR AVAILABLE FEATURES: . BLUETOOTH � HANDS- FREE 4 . PLUS MANY MORE BEST- IN- CLASS HIGHWAY FUEL ECONOMY �? AVAILABLE FEATURES: . BLIND SPOT WARNING 5 . REARVIEW MONITOR . MOVING OBJECT DETECTION . PLUS MANY MORE FINANCE A 2013 NISSAN TITAN AT FINANCE A 2013 NISSAN ROGUE AT FINANCE A 2013 NISSAN ALTIMA FROM ONLY FREIGHT AND FEES INCLUDEDD $ 2,998 DOWN $ 30,998 .. STARTING FROM $ 25,848 .. STARTING FROM $ 25,513 .. STARTING FROM SL AWD model shown .. Crew Cab SL model shown .. 3.5 SL model shown .. $ 5,000 ? 0 % MONTHS � APR CASH PURCHASER'S DISCOUNTS ON OTHER SELECT ROGUE MODELS PER MONTH FOR 84 ON ROGUE S FWD $ 12,000 ? 0 % MONTHS � APR CASH PURCHASER'S DISCOUNTS ON OTHER SELECT TITAN MODELS PER MONTH FOR 84 ON TITAN KING CAB S $ 132 AT 1.9 % APR BI- WEEKLY �, PER MONTH FOR 84 MONTHS CHOOSE QUICKLY. OFFERS END JULY 31 ST OR GET OR GET �,�} Finance offers are now available on new 2013 Titan King Cab S 4X2 ( 1KAG73 AA00), automatic transmission/ 2013 Rogue S FWD ( W6RG13 AA00), CVT transmission/ 2013 Altima Sedan 2.5 ( T4LG13 AA00), CVT transmission. Selling Price is $ 30,998/$ 25,848/$ 25,513 financed at 0%/ 0%/ 1.9% APR equals 84 monthly/ 84 monthly/ 182 bi- weekly payments of $ 369/$ 278/$ 132 for an 84/ 84/ 84 month term. $ 0/$ 2,500/$ 2,998 down payment required. Cost of borrowing is $ 0/$ 0/$ 1,548.48 for a total obligation of $ 30,998/$ 25,848/$ 27,061. ? $ 5,000/$ 12,000 Cash Purchaser's Discount is based on non- stackable trading dollars and is applicable to all 2013 Nissan Rogue/ 2013 Nissan Titan models except 2013 Rogue S FWD ( W6RG13 AA00), CVT transmission/ 2013 Titan King Cab S 4X2 ( 1KAG73 AA00), automatic transmission. The $ 5,000/$ 12,000 cash purchaser's discounts is only available on the cash purchase of select new 2013 Rogue models/ 2013 Titan models ( excluding the W6RG13 AA00/ 1KAG73 AA00 trim models). The cash purchaser's discounts will be deducted from the negotiated selling price before taxes and cannot be combined with special lease or finance rates. This offer cannot be combined with any other offer. Conditions apply. .. $ 30,998/$ 25,848/$ 25,513 Selling Price for a new 2013 Titan King Cab S 4X2 ( 1KAG73 AA00), automatic transmission/ 2013 Rogue S FWD ( W6RG13 AA00), CVT transmission/ 2013 Altima Sedan 2.5 ( T4LG13 AA00), CVT transmission. .. Models shown $ 48,748/$ 36,268/$ 34,413 Selling Price for a new 2013 Titan Crew Cab SL 4X4 ( 3CFG73 AA00), automatic transmission/ 2013 Rogue SL AWD ( Y6TG13 AA00), CVT transmission/ 2013 Altima Sedan 3.5 SL ( T4SG13 AA00), CVT transmission. �,�}�� .. .. Freight and PDE charges ($ 1,730/ 1,750/$ 1,695), air- conditioning tax ($ 100) where applicable, certain fees where applicable ( AB: $ 20 tire recycling tax), manufacturer's rebate and dealer participation where applicable are included. License, registration, insurance and applicable taxes are extra. Finance and lease offers are available on approved credit through Nissan Canada Finance for a limited time, may change without notice and cannot be combined with any other offers except stackable trading dollars. Retailers are free to set individual prices. Offers valid between July 3, 2013 and July 31, 2013. �? Fuel economy from competitive intermediate/ compact 2013 internal combustion engine models sourced from Autodata on 13- 12- 2012. Hybrids and diesels excluded. 2013 Altima fuel economy tested by Nissan Motor Company Limited. Altima: 2.5L engine ( 7.4L/ 100 KM CITY/ 5.0L/ 100 KM HWY), 3.5L ( 9.3L/ 100 KM CITY/ 6.4L/ 100 KM HWY). 3.5L shown. Actual mileage may vary with driving conditions. Use for comparison purposes only. * Offer available to all qualified retail customers who lease, finance ( and take delivery), or cash purchase a new 2013 Sentra/ Altima Sedan/ Rogue/ Titan models ( Titan offer only available in BC, AB, SK, MB, NFLD, NB, NS and PEI), on approved credit, from a participating Nissan retailer in Canada between July 3rd, 2013 and July 31st, 2013. 1 Purchase or lease a 2013 Sentra, Altima Sedan, Rogue, or Titan by July 31, 2013 and you can choose to receive a Preferred Price TM Petro- Canada gas card redeemable as follows: 40 cents per litre savings applies to 1750L on 2013 Sentra, 40 cents per litre savings applies to 2,000L on 2013 Altima Sedan, 40 cents per litre savings applies to 2,600L on 2013 Rogue, and 40 cents per litre savings applies to 3,750L on 2013 Titan. The Preferred Price TM card is valid on all grades of motor fuel. See Nissan dealer or www. choosenissan. ca for details on the number of litres received per model leased or purchased. 2 Offer available only to qualifying retail customers. First two ( 2) monthly lease/ finance payments ( including all taxes) will be waived, up to a maximum of $ 600 ( inclusive of taxes) per month. Consumer is responsible for any and all amounts in excess of $ 600 ( inclusive of taxes). After two ( 2) months, consumer will be required to make all remaining regularly scheduled payments over the remaining term of the contract. This offer cannot be combined with the $ 5,000/$ 12,000 Cash Purchaser's Discount on all 2013 Rogue/ 2013 Titan models except Rogue S FWD ( W6RG13 AA00), CVT transmission/ Titan King Cab S 4X2 ( 1KAG73 AA00), automatic transmission. 3 No charge extended warranty is valid for up to 60 months or 100,000 km ( whichever occurs first). Some conditions/ limitations apply. The no charge extended warranty is the Nissan Added Security Plan (" ASP") and is administered by Nissan Canada Extended Services Inc. (" NCESI"). In all provinces NCESI is the obligor. See details at www. choosenissan. ca. 4 Use the text messaging features after stopping your vehicle in a safe location. If you have to use the feature while driving, exercise extreme caution at all times so full attention may be given to vehicle operation. 5 The Blind Spot Warning System is not a substitute for proper lane change procedures. The system will not prevent contact with other vehicles or accidents. It may not detect every vehicle or object around you. Offers subject to change, continuation or cancellation without notice. Offers have no cash alternative value. See your participating Nissan retailer for complete details. � 1998- 2013 Nissan Canada Inc. and Nissan Canada Financial Services Inc. a division of Nissan Canada Inc. BIRCHWOOD NISSAN 3965 Portage Avenue, Unit 50, Winnipeg, MB Tel: ( 204) 261- 3490 www. birchwood. nissan. ca CROWN NISSAN 700 - 1717 Waverley Street, Winnipeg, MB Tel: ( 204) 269- 4685 www. crown. nissan. ca VICKAR NISSAN 1424 Regent Avenue West, Winnipeg, MB Tel: ( 204) 669- 0791 www. vickarnissan. com McPHILLIPS NISSAN 2150 McPhillips Street, Winnipeg, MB Tel: ( 204) 632- 7135 www. mcphillipsnissan. com W INNIPEG'S Buhler Industries - Canada's last farm- equipment manufacturer - got a dose of good news Tuesday when Export Development Canada approved a $ 20- million line of credit. The announcement, at first blush, seems to be positive. Buhler is a prominent Winnipeg employer, with about 800 employees locally. The money helps Buhler expand overseas sales and keep Canada a player in the international farm- equipment market. Not everyone sees it that way. The Vancouver- based Fraser Institute - a conservative think- tank - released a report the same day condemning government support to business. The report revealed Ottawa has contributed $ 22 billion in loans and grants to Canadian businesses since 1961. No matter how you look at that number, it's pretty astounding. But what does it actually mean? The Fraser Institute argues accepting grants or loans from government is a worst practice for Canadian business. In fact, it points out the gross majority of Canada's largest employers have never taken government largesse to get to where they are today. " Peer- reviewed research does not support many claims advanced by federal politicians and other proponents... that corporate welfare is responsible for economic growth or job creation," the report concludes. " In fact, the companies with the highest employee counts - most of which do not take subsidies - are real- world examples of companies that have not needed taxpayer assistance to create jobs." To give credit where credit is due, this is a good subject to study and at its most basic level, there is some good stuff in the report. We cannot escape the fact there have been some bad investments by government in the private sector. However, as is so often the case with Fraser Institute research, this study fails in two profound ways. First, it does not dig deeply enough into the subject matter to differentiate between good and bad investments; and second, it draws conclusions the findings don't support. For example, the institute argues because most of Canada's largest employers do not accept corporate welfare, it is unnecessary. However, Canada has more than 18 million people in its workforce. At most, the largest employers who have shunned corporate welfare represent about 1.3 million jobs. It does not list the number of employees employed in companies that have accepted government loans and grants, nor does it attempt to assess the value of the companies, or the wages paid. The study also fails to acknowledge many of our most profitable, highvalue industries - aerospace, oil and gas, automotive - were established with government subsidies. The fact is economies do not care where a dollar of investment comes from. Economies are a blend of public- and private- sector investment. Canada is split fairly evenly, with about half of GDP generated by each of the public and private sectors. Nordic countries generate as much as 80 per cent of their GDP from public- sector activity; others such as the United States rely more heavily on the private sector for growth. In empirical terms, however, a dollar invested, regardless of its source, produces growth. This is particularly true of employment; a dollar spent hiring a worker has the same impact regardless of whether it's public or private. David Macdonald, chief economist for the Canadian Centre for Policy Alternatives, admits he is not a fan of government subsidies to business. That having been said, he also noted his dislike of this type of investment does not change the fact each dollar invested - whether by government or a private company - can produce about $ 1.50 in economic growth, Macdonald said. There are factors that limit the impact of the investment, he added. Money spent on direct employment has the biggest economic return, Macdonald said. However, if the money is being used to buy building materials or machinery from outside the jurisdiction in which the investment is being made, the spinoffs are considerably less. This is what economists call " leakage." The impact could also be eroded depending on whether the company is publicly traded, or privately owned. Or, whether the company is Canadian- owned and located, or multinational. The Fraser Institute specifically fails to draw any of these lines in its analysis. Just as it fails to deal with the real elephant in this debate: tax cuts. Remarkably, the institute admits it excluded " tax reductions, deductions, credits or exemptions" for businesses even while conceding " preferential tax treatment... mimics subsidies." That is, for the institute, an assertion too far. If you created a list of potential government investments, with the ones that created the biggest economic bang at the top, tax cuts would go at the bottom. Tax cuts provide the biggest benefit to high- income earners, who tend to save money rather than spend it, which limits economic impact. The same is true for corporations. Cutting taxes for an alreadyprofitable corporation may boost earnings, share prices and dividends, and that will benefit those lucky enough to own stocks in that company. But it leads to less growth. Running through the narrative of the Fraser Institute's research is an assumption lower taxes and smaller government make for a better economy. In fact, lower taxes and smaller government mean better conditions for one segment of the population; it is much harder to make the argument this model makes for a better economy. We are better off for knowing how much money Canada has spent providing grants and loans to businesses. We are still waiting for a more definitive verdict on what it really means. dan. lett@ freepress. mb. ca DAN LETT Report on biz subsidies only part of the story ' The companies with the highest employee counts - most of which do not take subsidies - are real- world examples of companies that have not needed taxpayer assistance to create jobs' B_ 05_ Jul- 24- 13_ FP_ 01. indd B5 7/ 23/ 13 7: 41: 48 PM ;