Big banks? No thanks THE PROVINCE is op posing proposed bank mergers based on their potential impact on small B.C. communities. , Job losses, branch closures and other negative effects were identified as anticipated consequences if the mergers go ahead. “We were particularly concerned about the pos- sibility that more and more communities would find themselves without local banking services,” small business minister Jan Wad- dell said last week. : Provincial officials will present B.C.’s position and the report of the B.C. Bank Merger Task Force to fit nance minister Paul Martin this week. : Task force chair David Rosenberg said the majority of presentations opposed the proposed mergers of thé Royal Bank and the Bank of Montreal and of the Toronto Dominion Bank and the Ca- nadian Imperial Bank of Commerce, “Our mandate was to con- sult with the people of Brit- ish Columbia and they told us they were concerned about loss of jobs and reduced services, particular- ly in rural areas,’’ Roseny berg said, “‘For the most part, they could see né benefit to British Colum- bians resulting from the mergers.’ ‘ The task force report is available on the Internet at www.bankmergersbe. gov.be.ca or by calling 8299 20% ant “ Conceriig about the effects” of bank meet on small business were also raised by the task force. The Terrace and District Chamber of Commerce has not yet taken a position on the bank merger question, according to manager Bob- bie Phillips. Casino boat a no-show A POCKET cruise ship that was to sail between Vancouver and = Prince Rupert this year never made it. Delays and cost overruns during constriction of the Pacific Aurora forced Inside Passage Cruises to cancel the entire 1998 cruise sea- son. The cruise ship was also to be home to a floating games room — the oaly destination casino to get ap- proval in northwestern B.C, The company’s answering machine says it’s processing refunds for those who pur- chased tickets, B.C. Rail had been book- ing package combination tous that involved rail travel that connected with the cruise. Princé Rupert Port Corp. officials said they incurred extra expenses working on a pocket cruise terminal this year, but were optimistic the delay to next year will give the company time to devel- op a strong marketing campaign. Lift oil ban, gov't urged | THE B.C. CHAMBER of Commerce is urging the fed- eral and provincial govern- ments to lift a moratorium on oif and gas exploration off the north coast. Chamber president John Winter said offshore ex- ploration in the Queen Char- lotte Basin would give the northern economy a shot at diversification, — BPRAXS roy ' 1-BD0-668-150'7 5 ‘4 2 . it www emedicabert.caly job to 1-800-988- Out @ Business survival About iS now the focus Economy forces shift in 16-37’s aid strategy IT USED to be 16-37 Com- munity Futures: Develop- ment Corporation’s main finance new businesses. But nowadays more and more of its efforts are devoted to keeping the doors open of the clients it already has because of the economic downturn. “It’s become a matter of survival,’ said corporation official Mary Anne Skill last week. She and fellow corpora- tion official Joe Whitney say the majority of the working day is now spent helping businesses deal with bad times. And while the majority of those businesses are con- nected to the woods and resource industry in the northwest, the downturn is beginning to affect others, adds Whitney. “It’s becoming more broadly based. Everybody’s starting to feel it,’’ said Whitney. ‘We're dealing with people who essentially are looking at changing what they do, to get into a new line of business,” he added, Whitney and Skill say that refinancing of existing loans and suggesting different ways to earn income rank highest of issues they face. “Everybody is looking for the answer,’”’ said Whitney. Mary Ann Skill He and Skill say the Ter- race is doing relatively fine compared to the area north on Hwy37 and the Hazeltons. “Jf we didn't have Kitimat and the aboriginal sector, we'd be in trouble and anybody suggesting 0/ PURCHASE FENANGING UP 1048 MONTHS' PONTIAC SUNFIRE COUPE Sporty styling that’s bullt for drivers. . S Amonth 1 #36 months 82,369 downpayment SMANTLEASE* NO SECURITY DEPOSIT 365 DAYS A YEAR. otherwise is not living in teality,’’ said Whitney. Skill termed the situation in the Hazeltons, where she said unemployment touches. 80 per cent, as ‘‘almost a crisis control situation.” The corporation —_has delayed loan payment schedules to it from some clients so they can instead pay banks and other lenders, Skill continued. ““We can be more flexible than other places,’’ she said. As well, the corporation is find itself playing a mediat- ing role between its clients and banks and other lenders. “Tt used to be that you had to make a net profit. But now, if you can create cash flow, to pay overhead you can survive,”’ said Whitney. Still, Whitney and Skill say the corporation, which recently completed its 300th loan, still has a very low record of loans that went bad. 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