eee TERRACE — Businesses and . individuals here have: so far escaped the worst of the coun- iry's,,economic. downturn, in- dicate. those - who deal with troubled finances. Statistics show the level. of consumer _ing-at-about the same as they * did in; 1990." The statistics, kept by Con. ‘ sumer: and Corporate~ Affairs Canada, record £2 consumer ‘and’seven business bankruptcies in -1990;: Up to July this year,“ the’ figure-is 11 consumer and seven business bankruptcies, - ‘These statistics are backed up by ‘a-Prince George bankruptcy trustee: who says the north is : healthy, compared to other parts . of the country. © oa Oe annual terms, there has . not been‘ that much change,” ‘said John Beverley of Deloitte and Touche. It handles: the ma- -jority. of : ‘Northern | B. C. bankruptcies. ; But he does note it takes a aye ‘couple of years for the effects of -»; @ National recession to be felt in “B. C, and i in the north. oie Guy: Pocklington, a debt ~'gounsellor for the provincial » government who covers the nor- “¢thwest, says his workload rivals “that of the last great recession in the early 1980s. cio<The one exception is Terrace where Pocklington says things are stable, ~ “Over ‘last year, the entire =." region is up by about 40 per t- cent. It’s high in Prince Rupert because. of. the fishing ndustry,”” he said. “Terrace seems to be about ast couple of years,”’ Pockl- ington added, - He-has found that economic ownturns followed by in- dividuals getting into financial trouble “i is. cyclical, ‘depending and business. bankruptcies this year is runn- he same:as it has been for the - ankruptcies upon the health of the major in- dustries -. individual nor- thwestern cities ‘and towns. Rick Jones of.Caledonia Col- lection Agencies attributes some of the stability inthe local ‘economy to: -diversification away. from a heavy dependence upon the foresiry industry. - “There's enough diversifica- tion so that a bump in the. loge- - ing ‘industry isn’t felt as much. ‘—, unless the news media plays: it’ up; people don't, start: hoar-. ding their money,” he said, Overall, Jones said Caledonia . through a subsidiary have done véry litile liquidation of business assets,-. particularly vehicles and heavy equipment, for bankruptcy trustees, -* ‘*This is not to say. companies aren’t getting into trouble but in a wide sense, . the weaker: com- panies have been culled out over the last seven or eight years,” he said. But Jones did say ‘there i is an ‘increase .in' the number of repossessions . of private vehicles, He traces that back the last two or three years when, as the economy here picked up, people went out and bought new vehicles on time payments. “At the time they thought they would be able to do it — that things would get better. ’ That’s what life is built on, but now they’re finding they can’t meet those payments,"’ said Jones. Yet he says non-economic cir- cumstances, such as family break ups and illness are often as not responsible for people turning in. those vehicles, . “I figure that 90 per cent (of repossesions) are people who have hit some kind of set back, What they'll do is go out and buy a beater and drive it for a couple of years, But they'll be back. some day,” said Jones, __ Night work ' JUDICIAL WISDOM was the order of the evening as real estate representatives chose the winners. of the annual __ Christmas light decoration contest Dec. 20. That's Gordie Sheridan, Sylvia Griffin, Joe Barbosa and John Evans with their marking sheets. Best commercial went to the Skeena Mall. Mountain Vista Challenged . McRae Crescent for best. street but, for the third year in a row, the latter won. The Allen residence on 4930 Scott claimed best theme while best home- went to the McGinlays on 5502 Hwy16. Two homes, 5105 Bren " which owns 24 Hour Video, has — ght the Crazy Mike’ s outlet orsley said the purchases con- solidate his company as one of the : major video. retailers in tern Canada. told, Brenton has 125 ‘Saskatchewan and, employs nore than 750 people, ‘Skeena Cellulose senior com- “pany: official Reg Lightfoot “makes an appearance at the Ter- “race ‘and. District Chamber of Commerce’ 8 ext Juncheon ob “meeting. . F “Lightfoot, who has respon- | sibility: “for: the -Repap ° sub- i orthwest operations, on: ‘Capital Video Inc., 7 ‘Brenton 2 eesident” Frank ‘stores in “more than 60. com. . anies ‘in: B.C., Alberta and at the Bavarian Inn. | The luncheon begins at:11 245 reg’ m;‘-If you want to go, please call the chamber office.” Oe ak ae ; Refurbished .1950s-era rail cars will be making their ap- ' pearance next .month on Via's . Skeena passenger service. -The: cars will not only have — renovated - interiors. but ; have been coverted from running on "steam: ‘power. to electricity, This. conversion. process has been going on with Via's‘other western trains for several years. . a keke: ‘BC. Tel reports earnings for average ordinary shares were up in the third quarter to'50 cents _ per share compared to.46 cents , for the same period last year, That pulled 1991 year-to-date - earnings. fractionally ‘ahead of | last year-at $1.24. per share : against: $1.23 in 1990. CEO Brian Canfield said the upswing occurred: because - revenue. increases exceeded ' those in expenditures. He ex- , pected: this year's fourth: quarter ‘results. ‘would also show an im- : provement over 1990's, , speaks tc to the © gathering Jan. | 16 Agar and 2413 Cramer, received honourable mentions. Th IE set ag ae TY Se ia aerapatn intg. financial-trouble because ,they have no idea of how to budget, says a provincial debt counsellor who covers the nor- thwest. “In terms of prevention, the . - Number One thing is to do some planning and learn to control - your. money rather than letting it control you,” says Guy ’ Pocklington. : "You have .to make a con- scious decision on. what to do. with what is left over,"’ he said. Pocklington’ 5s job is to take the accumulated debits of people in trouble.and then structure a . payment ‘schedule through a court order, That often: i means receiving - envelopes full of cut up credit’ _cards‘from péople ‘who ‘use the provincial. government service, spendin right- up to the line. . When they lose a job or there’s -§ a reduction in work hours, they can’t meet creditor payments,'’ _ said Pocklington. ‘“There’s no place that people can learn budgeting principles. “It’s recently been introduced in ~ the schools but-it seems fairly — limited. Most of the people we J: deal with,’ the key group, who do get into debt are older than . those courses,’” he continued.. And Pocklington said that the budget planning informa- tion is more aimed at people i in the top 20 per..cent of income levels and so doesn’t have much relevance for others. | . But he adds that job losses ef- plan their expenditures careful- ly. _ tion available in general circula- . “fect even those peaple who do - IN ONE NIGHT! Terrace Standard, Monday, December 30, 1991 — Page AQ “HOURS: a * Our office is open 8: 00 a.m. -.6! 00 p.m: Monday to Friday: 1 phone 638-7283 Fax 638-8432 “About| the Terrace Standard 8:30 a.m. - 12:00 noon Saturday. DEADLINES: Deadlines for classified advertising Is 12:00 noon Sefurday before Wednesday paper: Deadline for space booking of display advertising is 6: 00 pm, . ; Friday before: ‘Wednesday paper. Deadline for submission to the editorial department Ig 12: 00 noon Friday before Wednesday paper. ; SUBSCRIPTIONS: . Subscription rates for the Terrace Stancard are $90. 09 O per year, HOW TO CONTACT US: Weare located at 4047 Lazelle Avenue in Terrace, B.C. V8G 188 STOLEN IN QUEBEC. LICENSED RATE —INBS. The private sale of stolen vehicles is big business. | Don’t be a victim! 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