Page A10- The Terrace Standard, Wednesday, December 16, 1992

USINESS REVIEW _

45 = vee

ade

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HYDRO POLE and line replacement in the horseshoe is un-

derway untii January. The work is being done by Spruce City

Electric from Prince George and Twin River Power of Ter-

race. The tricky part is doing all the work while keeping the
power on to the neighbourhood.

Businesses
warned to
compete

TERRACE — Compete or die:
that was the message from In-
stitute of Chartered Accountants
executive . director Ritchie
McCloy during a recent visil to
Terrace,

McCloy concentrated =—oon
strategics businesses could use to
ensure they survived to the next
century,

“He explained the essential tool
in any survival kit was the ability
to compete effectively.

Canadian companies were find-
ing that a lot harder now than
even a dozen years aga, in large
part becanse of rising costs of
production.

McCloy pointed out labour
costs in the manufacturing sector
in 1980 were almost identical in
both the United States and Cana-
da.

Just 10 years later Canadian
costs were running 40 per cent
higher than in the U.S. That
means Canada was not compcetit-
ing, be added.

Other weaknesses were the
slowness of Canadian companics
to adapt to changes in the cco-
nomic climale — as scen by the
country’s poor economic growth
record —- the way we pursued ex-
ports, and continued reliance on
natural resources and resource-
based praducls.

McCloy said (hose weaknesses
appeared rooted in the attitudes of
those making. the business deci-
sions in all sectors of the econo-
my and al all management levels.

TERRACE — Fonner provincial

Realty World Lakelse Realty.

cabinet minister Dave Parker bas .
become a real estate agent with | | y

_I’s part.of the background he
needs” iW” order” to "become “a
certified appraiser...

Parker said he has already en:

rolled in a UBC urban land cco-
nomics course.

A registered professional forest-
er, Parker was clected as MLA
for Skcena in 1986.and served as
forests and crown lands minister
during the Vander Zalm govern-
ment. He was defeated in 1991.

Parker retains bis partnership in
Goiden Triangle Services, an ex-
pediting company for mining and
alher concerns up north.

kkk kk

Unionized workers at Bandstra
Transportation Systems here have
a new contract,

The three-year deal allows for
‘wage increases of three per cent
in the hourly rate the second year

and a two per cent increase in the
hourly rate and mileage in ihe
third -year. There arc no raises in
the first year,

Negotiations covered Bandstra
workers here, in Smithers,
Kitimat, Houston and Vancouver
who are members of the Christian
Labour Association of Canada.

An association spokesman said
the contract was reached at a time
of declining freight rates and in-
creased competition.

kk kkk

Strong growth in residential and
general categories in the second
quarter has helped B.C. Hydro
offsct decreased revenues from

the industrial sector.
Nearly 32,000 new residential

and general customers were

Bank cuts back |

Stewart branch

TERRACE — The Canadian Im-
perial Bank of Commerce is cut-
ting, hours at its Stewart branch
and is moving some of its work to
Terrace.

The move follows a decline in
that community’s population with
the closure af Westmin’s Premicr
mine.

Effective Jan. 18, the branch
will be open Mandays, Wednes-
days and Fridays while consumer
loans and mortgages will be
handled from Terrace.

It is the only bank with a branch
in Stewart.

There will be no layoffs but
hours of bank employees in
Stewart will be cut.

One person. will be transferred
to Terrace from Stewart with re-
sponsibility for the consumer

loans and mortgages, says local
Canadian Imperial Bank of Com-
merce manager Keith Federink.

“Stewarl’s ccanomy moves up
and down in very strong peaks.
We will still keep a presence
there and when the economy
reaches a peak again, we'll be
ready to move back in,” he said.

Federink added that regular
visits by the loans and imortgage
official will be made at the begin-
ning of the transition.

This is nat the first time the Ca-
nadian Imperial Bank of Com-
merece has sealed back its north-
em operations. It used to have
branches in Granisle and Hous-
ton.

The bank still has more bran-
ches in B.C. than any other
chartered financial! institution.

Trade show coming

TERRACE — The Terrace and
District Chamber of Commerce is
following up on this spring’s
mining trade show with onc next
May on another. important north-
west industry, |

The show will. have a. forestry
theme because the May 7-9 dates
for the show come during Nation-
al Forestry Weck, said chantber
co-ordinator. Debbie McIntyre
last week. -

**We were really pleased with
the way things. went last year and

look forward’ to this one,’’ she:

said, es
Although the theme is forestry,
all other businesses . are’ en-

couraged lo participate,

“We are a service and supply
centre and that’s what we want lo
promote,” said McIntyre.

_ Being. planned in conjunction
with the trade show is a one-day
conference on forestry,

More than 80 booths are avail-
able for tent and bookings are
being ‘taken. at the chamber office
up until the middle of January.

The chamber ‘has ‘hired Van-
couver’ Display to ‘scl up the
booths and “organize. the running
of the trade show, |

The. company did the work last
year and the chamber was pleased
with the results, said McIntyre.

signed up for the year ending this
September for increased revenues
of $18 million, says the crown
corporation.

Bul there was a $19 million
reduction in industrial revenues
during the same period.

B.C. Hydro attributes that to the
summer pulp and paper strike.

kkk

A Prince George lawyer has
been named to the board of the
Prince Rupert Port Corporation.

Robin Heather, Q.C, replaces
Jack Payne, a Prince Rupert
businessman who was on the
board for 13 years.

Heather's appointment con-
tinues the effort to expand the
board’s membership into the
port’s customer service area.

John McNish, another Prince
Rupert businessman, bas been
reappointed to the board.

It was also clear the answer lo
businesses’ competitive problems
lay in increased productivily.

He said small business could
improve ils competitive edge by
effectively dealing with excessive
debt, keeping up with technologi-
cal advances, ensuring employees
were well-trained and their
morale was high and keeping up
to date in their management prac-
tices.

If Canadian business remained
uncompelitive, he warned, the
country would watch its standard
of living fall behind that of others
who did keep pace with the
changing face of the global econ-
omy.

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