TERRACE STANDARD A® - The Terrace Standard, Wednesday, February 11, 1998 Business REvIEW Kmart likely to become Zellers Irs HIGHLY likely that Terrace’s Kmart store will transform into a Zel- lers outlet in the wake of a takeover announced Friday by the Hudson's Bay Company. The Bay plans to tum about 35 per cent of the 112 Kmart stores in Cana- da into Zellers stores as part of its pro- posed $240 million buyout of Kmart Canada Co, About 5 per cent of Kmart stores will be converted to Bay stores or new formats, and the remaining 10 per cent will be either cloged or leased out to other retailers. Kmart manager Roger L’Heureux it’s highly likely the Terrace store will be one of those converted to a Zellers. That’s because the Bay-owned Zel- lers chain already has stores in Prince Rupert and Sraithers. And rumours over the last year that commercial realtors searched for a site for a Zel- lers store here is a sign the chain was already interested in this market, L'Heureux doesn’t think there’s much chance — strictly because of IT WAS business as usual in the Kmart shoe department fc for Sharon Maxim on Friday after word of a takeover of Kmart by the Hudson's Bay Company. The Terrace store is expected to become a Zellers, with little change for employees there, the size of the community — of the store being converted to a Bay. “T don’t see it,’” he said. L’Heureux says he’s not expecting any chatiges for the store’s 60 Terrace employees, apart from a new name. Hudson’s Bay Company officials said the merger could mean the loss of around 5,000 employees nation-wide. But those are expected to be in loca- tions where stores are being closed and at head office. The merger of the Bay and Zellers with Kmart will be subject to regulatory approval. Dairyworld to cut 11 jobs in March ELEVEN employees at the Terrace Dairyworld depot are going to be out of a job in mid-March. They’re casualties in a province-wide restructuring of the company. Employees at the Terrace depot currently take the bulk shipments and assemble them into individual store Out & About SCI creditors still waiting CREDITORS of Skeena Cellulose are still waiting to get paid the $10,000 plus 10 cents on the dollar they agreed to last month. Company officials had said they were waiting for a Jan. 31 deadline for appeals of the restructuring plan to expire. “] can’t give you a date as to when the creditors are going to be paid,’’ said new company spokesman Don McDonald last week. He said there are a series of agreements now being transformed into legal con- tract language, adding that will take some time. ‘T would hope that we would receive some moncy by the end of the month,”’ said Justin Rigsby, spokes- man for the creditors’ group. Local gets Rupert award TERRACE businessman Gien Saunders has been named Prince Rupert’s En- treprencur of the Year. Saunders, who owns Kermodei Trading here and sister outlet Cow Bay Gift Galley in Prince Rupert, was credited at a Jan. 24 awards ceremony as being instrumental in deveioping and promoting the touristy Cow Bay area of the coast ' city. He has also been named by the province to an ad- visory board that will guide the use of a new Northern Development Fund, which was set up as part of the . goverament’s agreement with Alcan to distribute money to assist com- munities in the north. Pulp, timber still king THE PROVINCIAL ccono- my may be different than what it was decades ago but pulp and timber remain the king of what's exported. They made up 49 per cent of provincial exports in 1956 and 43 per cent in 1996, Newcomers to the provin- clal export mix are motor vehicle parts, site, cranber- ries, ginseng and mushrooms. orders, That job will now be done in Prince George and the building in Terrace will act as a cross-dock, That Dan Wong. None of them will switch to contract jobs as those are already filled, Wong said the move is ing in Prince George too. Workers there used to pro- cess Dairyland milk. Now ali Dairyland or Dairyworld means completed orders just the latest phase in a products will be made in will be sent here to be series of restructurings that Armstrong and Burnaby. picked up by contractors. have scen more than 100 The company makes pro- Five of the 11 to be Jaid off are full time workers, says Dairyworld spokesman -~ Han - Valentines Day Weekend: Bring your special some one out for a romantic even- ing of dancing close with love in your eyes. i Frida yé & Saturday Night we will be ging away pe Romantic” prizes. ves Saturday night come on outFriday 4 jobs eliminated in B.C. over the last five or six years, There are changes happen- t 1 es ae Pan Night and pretend it Oe is Saturday. 4 ducts under the Armstrong, Yoplait, Fraser Valley and Orchard Hill labels. 3¥ When you can't breathe, hothing else matters BRITISH COLUMBIA LUNG ASSOCIATION “ FA1-LUNG of 1-800-868-LUNG James W. Radelet RADELET & COMPANY saristers & Solcttors | Tax Law ¢ Trusts * Corporate & Commercial | 1340 - ~ A078 West eorgia Street, Vancouver, B.C. VeE 3¢9 Phos: 604-665-0878 YOU BE THE JUDGE WOULD YOU BUY A CONDO WHICH HASN’T BEEN BUILT YET? The four young couples got swept along by the crowd pushing their way into the Vancouver hotel. Peter was not happy. “T can’t believe we're doing this. Going lo a sales presentation for condominiums thal have yet to be built. I feel like we’re about ta be taken for a ride.” Peter’s wife Michelle hugged him. “Lighten up, my love. After being in court all day, you should find this great entertainment.” Inside the hotel’s ballroom, there was a mag- nificent stide presentation showing glamorous con- dos overlooking the Vancouver bay. “Wow,” said Lai, “I can just picture myself with my moming coffee on the terrace staring at the water, I'lk buy two!” Chris excitedly poked his wife. “Cecilia, you've got to look at this brochure. There are wind- ows everywhere! Look! In the living room alone there are 6 wail-to-ceiling windows - and all over- looking the Bay. Let's not hesitate. Everyone in this crowd must be thinking the same thing. I'm buying. What about you guys?” They all nodded their heads and rushed to the buying table. All except Peter. “This is insane! Here we are, 8 lawyers and accountants. We would never let our clients buy from a brochure. Why are we acting so crazy?” His wife prodded him gently. “Because there are certain things in fife that are great opportunities, This is not the time for your legal scrutiny.” Peter was swept along. The 4 couples signed the offers, and gave a cheque for the 10% down payment and a postdated cheque for another 10% in BASED ON ACTUAL COURT CASES 6months, “We'll call you as soon as the condos are built. We're looking at a date 1 year from now.” One year later, Peter got the call. “The con- dos are almost ready.” The couples ran to the condo building and — lock the elevators to their condos, They stopped dead in their tracks. Peter’s wife proaned. “Peter, we should have Hstened to you. We’ve been taken, There are only half the amount of windows, This is outrageous.” The couples got into their BMWs and drove to court. The group was very upset as they addressed the court. “Your Honor, the builder lied! The brachure promised twice as many windows, That's why we bought the condos. He ruined them. Make him give us back our money!” The builder was steadfast. “A deal is a deal, your Honor, They agreed to buy the condos, so they have to pay far them. They said I could make minor changes to the building. What’s a few windows? I refuse to return the money, Make them pay me the rest of the money they owe”. Should the builder have to refund the money? You! Be The Judge. Then see below for the court’s decision. “Helping People Cope with the Legal System” #2 4623 Lakelse Ave., Terrace, B.C. Criminal Law Divorce & Family Law Child Custody Personal Injury Adoptions Impaired Driving Immigration Wrongful Dismissal Wills Small Claims 638-1764 Fax 638-7249 eo e@e8f #@ e¢@e@ &© @ @ ' YOU BE THE JUDGE - DECISION \ ’ Located in the tnn of the West “Give them back thelr money,” The court ordered the bullder. “The condos were bought because of the model, and windows were an Impartant part of a hame. Changing the number of wiadows is got a ‘minor change’.” YOU! BE THE JUDGE is basad on actual court cases. rede 's decision is based an the facts of the case and the law of the province of Manitoba . if you have a similar preblern, please consult Lindsey & Grueger, Clalre Bernstein is a Montreal lawyer and nationally syadicated columnist. Capyright fsaz Haika Enterprises. Bi2-6 ‘rates in 1998, increase. 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