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Page THE HERALD Wednesday September 1989 Business Page Billionaire Campeau falls from the top Want to complain Tut it in writing Diane Matey YourButineis Han Its a sad day for Canadian business Robert Campeau the housebuilder from Sud bury has overreached himself in his daring bid to become king of the Americat department store business Mr Campeau giant US retail chair does not have enough money to meet its financial needs His dream shattered the man renown ed for his boldness and vision putting his crown jewel the fashionable Bloomingdales department store chain on the auction block And he is turning to his friends shareholders and sometimes part ners the brothers for help The Reichmanns through and York have a 28 per cent interest in Campeau Corp and a half Interest in Campeau flagship Scotia Plaza in downtown Toronto A year ago Mr Campeau wowed New York by snapping up Federated Department Stores one of the largest retailers in the coun try for billion US and mountain of debt He had bought Allied Department Stores two years earlier for billion US DROWNING IN DEBT Ever since the spectacular move critics have been dogging his trail watching for signs of financial strain Indeed the retail divisions 95billion debt is frightening especially since much of it bears high interest rates Sooner or later the critics warn ed darkly the money flowing in to Campeau Corps retail empire would not be enough to meet in terest payments The time has come sooner rather than later as the public learned Friday The news is all the worse because of the high expectations that surrounded the trading halt in OFFICE MAGIC FOR ALL YOUR OFFICE STATIONERY NEEDS St Georgetown Campeaus shares Thursday By the time stock exchanges stopped trading the stock price had risen by175to22 Rumors abounded the most in teresting being that Mr Campeau tired of his critics had decided to take his company private with the help of Olympia and York Shareholders were counting their profits in anticipation now they are selling in droves Shortly after trading resumed Friday the stock plunged In its announcement Friday the company warned shareholders that there were no assurances it would reach agreement with the Riiehmanns or that ingdales would be sold in time to provide the needed working capital One possible buyer of its management group Directors will meet Tuesday to try to reach agreement on a restructuring plan lhat includes a possible US secured loan from and York secured perhaps by the other half interest in Scotia Plaza Whether the mercurial Mr can go through the restructuring and still save face seems doubtful In July at the companys annual meeting he gave his critics a tonguelashing accusing reporters and analysts of being far too eager for his demise We have been tried hung and given reprieves so many limes in this country its amazing were still around he raged Naviga tion through corporate debt by the standards of newspapers and financial analysts is like using a sextant on a starless night Its a starless night for Mr as he struggles to save his empire Tempting as it might seem though it is too soon to cast the toughminded 66yearold as a tragic hero He has been down more than once before and bounc ed back Did you ever want to complain but you didnt know how to do it or who to complain to Did you ever want to fire off an angry letter about how you were treated by somebody Well theres a new business in Acton that will help you do just that Nora Sa age Nora Savage a former systems with the Ontario Provin cial Police is operating Put it in Writing from her home Shell help you write letters of complaint resumes fill out application forms and documents write personal let ters and letters of protest- Only 10 per cent of the people who want to complain about something actually do it said Ms 8770109 Simon CHARTERED ACCOUNTANT Phone 416 132 Main Street South Georgetown Ontario 3E6 8770109 Savage Most people dont com plain because they dont know how to or where to send the complaint she said People are a little bit conser vative to complain she says Our whole Canadian society gears youto consumer beware so its your fault if something goes wrong There are many cases of misrepresentation in advertising said Ms Savage Its our job to keep business in line Ms Savage will help you write your letter of protest or complaint and shell even tell you where to send it but she wont replace a lawyer only want to write the letter I dont want to follow through I have no legal background and I dont profess to If Ms Savage feels there is a need for a lawyer shell refer you to legal experts Ms Savage offers help for two kinds of people Those who cant fill in forms such as the elderly il literate or disabled people and those who want to write a letter of complaint or protest The cost of a protest letter runs Why not with help from while a personal letter will cost from A resume will cost you anywhere from to And Ms Savage guarantees con fidentiality Anyone who wants to Put it in Writing can call Ms Savage at 8531187 during business hours Semorama The Brampton Real Estate Board is holding a Semorama Sunday Sept from pm to pm at the Brampton Holi day Inn 30 Peel Centre Dr in Brampton Featured speakers for the free day include MP John who will speak about how the federal goods and services tax will affect housing and Frank president of the Toron to Home Builders association who will speak about the topic Will Housing ever get more af fordable For more information call STEVEN FOSTER BALLB BARRISTER SOLICITOR 37 MAIN ST SOUTH GEORGETOWN OIMT L7G 3G2 68734961 68734962 HOURS MondayFriday 900 am 530 Saturday 930 air CANON PC COPIERS SAVE Canon LETTER SIZE LEGAL SIZE Copies from business card to Copies from business card size to legal size Weighs 12 lbs Size 34 x 16 x 38 Size 12 x 38 x 5 Available in White Quick waim up Automatic startshut to save power Stack feeds up to 50 sheets Multiple copy of up to 9 copies Uses Mini cartridge not included I REGULAR ea Available in White IBM REGULAR ea COPIER CARTRIDGES Canon PCCartridges for models Black Toner CARTRIDGES Black Toner r ARIAL Hwy 7 Georgetown 8466947