| ture to. the hardships. being’. faced
'}:. businessmen “today.” The mellow. positi

i ie ment bank,

o ‘derlying fear of today’s recession: -the -¢x-
. tinction of the entrepeneur..
‘You’. find”. many (formerly)

“people, who are falling by. the wa
-throwing in the towel. They are soir

, in Canada to keep our economy growing.””

« economy by creating jobs, purchasing materials
and equipment, and creating opportunity in the
‘«market place, Dohan feels. He points out the

the past.:

Wl hope most lenders will do all they: can to

get’ these people back on their feet,” Dohan
say: Ss.

ferent than what it has done in-the past. Only
|. today, the advice and aid is more critical. Bank
« personnel are qualified in evaluating proposals;
even if the proposal is beyond the means of the
company financially, the bank does not simply
hit the application with a reject stamp and go.
‘on to financially greener pastures. FBDB per-
_] sonnet are trained: to work out an alternate
4 program forthecompany.
“<> The development bank has often referred to
‘as the lender of last resort, a name it doesn’t en-
| courage. The name tag comes not so much
. from working with individuals who are rejected

: work with companies located in remote resour-
ce areas where financing [s difficult to package.
The FBDB takes a different approach to len-

_ piece of equipment but are.on the basis of a
* general infusion of capital into the company to
* sustain it over a long term. The total needs of
|. the company are examined. There. is no credit
‘line or short term loans extended.

The bank's loans range over five to 20 years,

” busi °
"aloes tanya sur bat Aho gldduy Bays of

- pgthe recession,’ the FADB has‘no qualms:about™ | *
a ‘seeing customers who are in financial dif- | :
[:*ficulties. Dohan cautions that the bank can't [|

"pall off miracles but there is in-house expertise
oexamine what may be a salvage operation.

doesn’t mean we are turning them out the door.
We would look to fi ind some way it can begur-
ned around, If we-saw some way that our in-
volvement. could.

‘making a new start with the bank, says Dohan,:
who considers them often the better Jong term
tisk because of their lessons in the market
place. “They are less apt: to make. the same
" mistakesagain.”
A strong FBDB attitude that comes across is
that the small businessman during a Tecession
_ committed sins no worse than’ the larger

able to weather the cost of their mistakes,

“One avenue the FBDB can pursue is restruc-
turing the debt load, making concessions that
_ Other institutions are not able to offer. Another

means, and-one that the development bank ‘is

. problem, is a proposal to creditors.
‘Dohan tells of one example where a develop-
ment bank ‘client accumulated so much debt

‘bank was able to recommend that the party
make a proposal. to creditors which had them

Testructuring put the company back in the han-
’ ds of the owner. While there had been no reduc-
tion in the debt load, the payments had been

recession. |
Usually, the proposal to creditors is made
through a receiver manager but the decision or

long term lender such as the development bank

‘| beyond hiscapacity.
‘’ Proposal to creditors also benefit creditots i in
the long run since they stand to recoup a greater

realized by a few cents on the dollar yielded i ina
receivership closure.

“until it is too late to make a proposal. to

you are really doing a post mortem on the coni-
pany,”’ Dohan says,

On the down side of the FBDBi is the fact that
last year it Jost approximately $75 million and
the same bad news is expected to be anngunced

those aden by traditional lending institutions. :

concem sige. counter-balancing them are.the
_ thousands Of businesses that have survived, and
will prosper, after the recession. “Just as the FB.-.
DB looks .at-its clients in the long term, the
.. public should look at the FBDB’s role as a long.
term one. The losses of the recession will be

“yaad ©.
a language and. putting them ..
under Conceptual headings,

. doing a complete history of
~ ‘the: -EngHgh’’:

“Finally, ry Bank altinide ‘that’s civilized and in |.

ca

. }) comes not from she-Big Five who generally tow.
‘P:-the ‘line as lone, neat, and precise as the. piny
_ Stripes‘in their $500 suis, but, from a overn-" fF

_ oS The bank “is the: Federal Business ‘Develop: ;
’ “ment. Bank and management -has one. un-. 7"

bast ; successful dL:
- business people going into bankruptcy because’
of the hase The ereatest ‘tragedy “is these

side, are |
ing off t to .
“work .for someone else,” says’ R.P;- Dohan,.. |.
’ “gasistant general manager of the FBDB in B.C. |:
and the Yukon. “These are the people we need _

‘When. lending institutions backshuffle for-
‘G merly bankrupt clients as poor credit risks, they
+ are..circumventing attempts to rebuild the:

|: bankrupt client is often the wiser businessman -
m because le or she has learned from mistakes in

Much of what the FBDB does: today is no dif-

from chartered banks ( although that doe shap-.
pen) but because it is willing to support and.

ding. Cash loans are not made to purchase a .
the average is 12 years and the development in-

‘stitution has: the Canadian reputation of:
,, making more loans to small and medium sized:

Because they are.in financial difficulties, it.

fake the business. viable, we.
would certainly become involved, ” Dohan |

The bankrupt person. isn’t. precluded. from .

business. However, larger businesses are often”

_ seeing re-emerge as an old solution to a new. a

” that bankruptcy seemed the only way out. The

accepting leséer payments. In effect, the bank's.
‘reduced to parallel the reduced cash flow of the |

advice to spread the debt load can come from a”

when: it sees a client accumulating payments J

pértion of outstanding ‘debt than would be™

“The same thing.is that often companies wait” |

creditors. A lot of people get into such trouble’

this year. But, proportionally, it’s.” losses .
through bad debt have not'been: higher thant

- Those losses should not-be viewed as & major |

paid for in better times.
ns » ] ie
~ Extieh Cohmbies a

Childrens Hospital
_ Care For rid. |

thas hoe

| ereating the first thesaurus, .
°F its kind in any: ‘language,
‘) “What we. are doing is °
“.-c gathering - together all the.”
words that have ever ‘been
the ©. English ;

‘language,

somewhat - similar’ to ‘the:
: “temporary, spectrum of the

English Vocabulary ‘that

- (Peter Mark) Roget gave," °~
Says the associate professor .
Brock

of English al
University. . ©
Just as Roget was the first

: ‘to create a thesaurus in,1852
_ listing ‘words. sharing |
similar conceptual meaning:
— Somerville ; sand) his --.

colleagues are the first to

chart.a conceptual history
.Of a language... :
' - Roget looks at the English

vocabulary. a8 it exists at

one “moment, _ Bays

eres

y

ATER SUPPLY VILLAG

_ those. concepts,

the entire ‘4
‘Veabulary, word. by :

and. diserts them: “in? th
- categories of the {hesatrus "*: ot
which: will combine ' the mn
labors. of a halt docket other: a

: of. Bs i
By . v dividing.’ ‘man’ 5
knowledge into categories,

through. ne  eerturtes
gives hist ofthe change

Sontierville ‘ad 9 apart’.

linguists. :

project, -:. Coa
“There are s E00-0dd ass
ithe OED." ri

one “‘implies a view -o
things,” .or a Philosophy,

explains Somerville,
“Our historical thesaurus -

isn’t going’ to use Roget's. ,

Steel a
~ Workers...
» Holl:

Tima
urt
curling =. Ps
BLU MBI u
L_)
s ,
%
L.uso-Canddion

Club

- project ‘initisted by’ Prof, .

‘Michael’ Samuels "at ° the .
- University of Glasgow in the

‘Date "608, “you will have the
‘word, then the dates: (of °
“each usage of the word),
‘then the appropriate: style
' tabel — the level at whieh
the word was used ar: the
area in which the word was

f . used — academic, poetic,

archaic, colloquial; ob-
scene,””

. The actual conceptual
sheadings are _ being kept

LETTER

LETTER
_ 0%

~ Benefit”: diterary “erities,: Pt.
psycholingulsts ’ ‘whe. study :
menial states and | processes °
in relation to: language and...
speech), :
anyone with, a ‘Passion: for

‘In ‘the new Historical
- Thesaurus ‘of English; a
- “Right ‘dow.. ‘Tm: .dotig.

Bs,” he’ Bays, Teferring., to.
hls readings: ‘in the. Oxford.
*. English, Dictionary, - ‘the.’

‘major resource work for the’

Shakespeare
about love; you'll be able to
find: the’ range ‘of .words

"Canadian Legion
GION _ Hall .
“HA 1 OS.

‘students and

‘literature.° -"/ nt

“> Anyone, “who. has
Shakespeare is aware thal

-pome of the’ words he used,

although still common, now —
: haye- different. Meanings. -

With “this - thesaurus, . if.
is talking .

available in the 1590s under
thal. category of. meaning.
"The existence of a
historical thesaurus will

1. al literary critic: ‘to work out’: |
“s the sort of semantic chdices _
that a:
Shakespoate: was making "

’ writer
ee

cA PUBLIC HEARING on. the proposed FUTURE
"DEVELOPMENT for

~- PROPERTY wilt | be- ‘held as
DATE: Thursdéy, March.t0, 1989.
TIME: 7:30 p.m, :

PLACE: ’. The Arena - Banquet

. Forwritten submiastons, or for further F Faformation,
please contact: .

ty The Clerk Administrator
No. 5-3215 Eby Street
‘Terrace, B.C.
- ¥aG 2X8 (635-6311)

route. ‘in Thornhill

In fact, you'll even be able
to see: the appearance ‘and .
like disappearance of words and i

as

the SKEENAVIEW,.. f°
Foligues:. a

Reom |

‘We have”
and various routes in Kitimat
available for anyone Interested, ace
boys, girls, men, women.

- IF You WANT 8 : }
_ =m wr a

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