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Gives HayesDana $15 million Developmen British airways Hutu 2w Off to Britain Associates of Family Trust will be off to Britain this fall as part of the real estate companys an nual travel incentive program which was launch ed high atop the CN Tower recently Tower of Lon don Beefeater Clive Deverath courtesy of British Airways assisted in recreating the appropriate atmosphere for this years destination From left to right are irene Little Sandra Corner Helen Hopkins Aileen Houghton and Patricia Lee Mixed reaction to Geneva talks industry delighted cautious Industry reaction to details ol the leiieya trade talks released iti Ottawa ranged from delight tociitttioii Were delighted with the tartl concessions made by att Medical seminar on taxes planned one day seminar designed to assist doctors and dentsts in reducing tax costs will be held at tlttllglitll College Harrie during oveiiilnr and is entitl ed liititii loi llie lettita Iiotession lax expert riiie iaimer man senior partner of Touche Itoss and toittpaii Iotonto will lead the seminar llannerman has conducted six seminars at the college for tlt btisiiiessiiieii during the tlireeyears =tlt1llilttl tor oveiiiber the lllll legistratioii fee is sto ilw ot tiiiiteriiil and lyll an zltllllttiltlll rail lutilf mole1v oi write 131 this liit itlitlt ii ada said Keith Dixon president of the anadian Im porters vssociation The Geneva agreement re leased in capitals around the world calls for reductions in anadian import duties aver aging 40 per cent spread over eight years beginning lan limit The cuts part of the new General Agreement on Tariffs and Trade also gives Canadian exporters greater access to some ot the biggest markets in the world including the United states lapan and the European Economic ommunity It should reduce consumer prices starting Jan said lion And its hound to be anti inflationary Roy Phillips executive di rector of the anadian Manu tactiirers Association said the new trade pact places the oIIUs on aiiadian manutacturers lar tior and governments to do all they can to maintain and im prove the competitiveness of aiiadian products atid services and to increase our exports to all corners of the world He urged the government to act in concert with other GATT members to ensure compliance with terms of the deal and not act unilaterally to reduce taritls as was done alter the Kennedy round of trade talks at cost of number 01 jobs in indttst While many opinions of the Another look at If MiltIAN GREENWOOD deal will be expressed the fact is that no one can tell whether any one nation has made any great gain or loss in terms of net benefit Ontario Industry Minister Larry Grossman called on the federal government to assist in dustry to adjust to the new trading environment Ontario will be looking for the federal government to be come more aggressive and ac tive in providing adjustment assistance and safeguards to the manufacturing sector Grossman said Canadas ne gotiators won important con cessions where Ontario is espe cially strong in international competition such as in aircraft parts agricultural equipment pulp and paper machinery and certain agricultural and forest products The Canadian Chemical Pro ducers Association which rep resents 95 per cent of Canadas industrial chemical production said Canada appears to have gained as much as it gave those of you who read this column regularly know of course that the real reason behind the socalled energy shortage is long term plan ot the lnternationalists to strangle the West of energy men who know exactly what they aredoiiig and do it anyway llut how dothey actually do it Let come dou II step to presidents prime ministers and powerful goyernment bureaucrats who are the ones who knowingly 111 Ill ignorance ptit into effect the overall plans of the invisible government that is what the Interna tionalistsare William Simon tells it iii his book Time for Truth which Ive mentioned before iii this column First of all Federal Energy Agency is set tip Neither Simon or President Ford wanted this octopus to be started in the first place But they yielded to pressure on the basis that if they set it up at least they have control of it rather than the Democrats who they feared would do worse job still with such powerful economic dictatorship So it was set up And paradoxically Simon became energy czar of the very agency he knew would worsen the situation For years the government had been incoherently strangling energy production more than 55 federal agen cies and hundreds of state and local committees and com missions had been regulating bits and pieces of the oil in dustry Simon continues iiiyselt became an illustration of freemarket principle the very one that allowed Winston Churchill and such economists as Hayek and Milton Friedman to predict the disastrous outcome of the British welfare state decades Ill advance That principle states that government planning and regulation of the economy will ultimately lead to shortages crises and if not reversed in time some form of economic dictatorship That is precisely IMF World Bank meeting OTTAWA CP The International Monetary Fund and the World Bank will hold their joint annual meetings in Toronto in September 1982 Finance Minister John Crosbie said Wednesday About 5000 delegates are expected to attend Included in that number are ministers of finance and senior officials from the private financial sector of the 138 member countries of the IMF and members of the World Bank The IMF oversees the international monetary system The World Bank is the largest source of financial help to Iessdevcloped countries Canadian potash sales up TORONTO CP Canadian potash exports to markets outside North America totalled record three million tonnes during the year ended June 30 up 28 per cent over those the previous year reports Canpotex Ltd marketing agency for Saskatchewan potash producers The total exceeded by 400000 tonnes the previous record set in 197475 Energy shortage really Internationalists plan UhSaIAnappenea in me realm of energy production in the When the crunch of the Arab oil embargo came and before Simon was named head of the energy dept not that he wanted it he was shocked one day to hear John Love then head of the Energy Policy Office asking Rogers Morton casually as if they were at the end of normal week where Morton was going over the weekend Im goint out and get me some quail Morton drawled Fine idea Love drawl ed back Thats what Ill do too Simon lost no time in getting Love replaced Then scrapp ing all normal bureaucratic procedures Simon and his staff worked literally 24 hours day issuing new allocations cancelling various government restrictions taking forms over to offices and standing by while they were signed and in general getting things moving Finally they broke the gas lines crisis Oil com panies were allowed to go ahead as if there were no government interference They were allowed to distribute gasoline just as if they were in freemarket economy Unfortunately as we all know after Simon left and the US presidency changed hands things went back to worse state than they were before The Internationalists are hap py of course Their plan is back on the tracks America is being starved of energy once more Simon never so profoundly appreciated the difference bet ween the swift goaloriented operations of the free marketplace and the total incompetence of the government bureaucrat And thats just brief brief flash of one slice of govern ment life given in more detail in Simons book If you could only read about the screaming drunken congressmen and madhouse hearing rooms and paralyzing interventionist ideology and all the rest well youd start to become as scared as am about the future By RICHARD THOMAS Of The Examiner Since its announcement in Ontario Treasurer Frank Millers budget speech in April the ministry of industry and tourisms employment develop ment fund has kept relatively low profile Occasionally the ministry highlights its participation in capital expansion projects in the province such as the $15 million grant to HayesDana Ltd in Barrie last month but complete list of companies to receive such grants has not yet been officially released Officials with the ministrys evaluation branch however say there is no shortage of ap plicants for grants and the number of Canadian companies among them is high The ministry is hoping for solid Canadiancomponent in the funds program says George More officer with the ministrys evaluation branch but all proposals are being judged on the basis of what benefits they will return to the province And although the fund awards Brownie points to concerns of Canadian origin this is not the only considera fund keeps low profile tion shown to applicants Multi national corporations and businesses whose parent com panies are located outside the country are being given the same opportunity to acquire grants Naturally if we could ex haust the fund with Canadian prospects we would be glad to says More but we cant say sorry we have to wait for Canadian company to come along Half of the $200 million fund has already been earmarked to help the countrys pulp and paper industry modernize its technology towards energy con servation and pollution abate ment FORD GOT SHARE Another $25 million is destin ed for the Ford Motor Com pany to fulfill commitment made last yer by the provincial government towards new plant in Windsor To use the remainder to the provinces best advantage he ministry is looking for projects with good financial base con sidered to be attractive finan cial markets in the business sense says More in other words winners Basically we are looking at Gasoline shortage blamed the larger programs because we want to maximize more for the dollar Critics of the fund however have claimed that the multinaA tionals or foreign owned com panics especially those from the United States can qualify more easily to get larger share of the pie which should be used for homegrown in dustry But it is up to the Canadian business community to generate companies which can match the requirements says More Despite the criticism the fund has taken responsible approach to its financing of projects and takes hard look at the multinationals or foreign owned concerns before handing over the money says Rick Lemon also an officer with the evaluations branch We are anxious to get in volved with good corporate citizens and there are some multinationals we just arent interested in talking to ENJOYED INDEPENDENCE Some of the things the fund takes into consideration with applications from foreign own ed companies says Lemon are the degree of independence en the examiner Friday July 20 1919 joyed by the Canadian branch the amount of profit re investment iti Canada the level of import replacement created by the expansion and the crea tion of jobs with emphasis on permanence and technological skills If the company does not live up to the requirements laid out in the agreement the money must be refunded he says One thing the evaluation branch officers stress is that the grants are not something for nothing handouts The actual grant says More is usually between five to seven per cent of the total cost of the expansion which means the company itself is committed to paying the lions share The grant basically is intend ed as lever for private invest ment he says You might describe it as the incremental dollars required to makelhzgz is no question that the funds administrators face judgement call although they rquire applicants to jusify their requests It is difficult to evaluate says Lemon and we are not interested in putting money into something which will take place anyway The reality of the situation is that several states south of the border offer similar incentives which make it attractive for in dustry to locate new expansions there he says We are in terested in tilting their decision in favor of Ontario Critics might argue grant of only five per cent should make little difference to companys abiity to expand But every little bit counts and when you are con templating normal profit margins it can be very signifi cant says Roy Elms presi dent of the Ontario Chamber of Commerce The difference between go and nogo can be very narrow Elms says the business com munitys instinctive reaction to concepts such as the fund is the less government involve ment the better On the other hand he says business has to operate in the reality of the market place and the attractive incentives of fered in the US are well known making it necessary for the provincial government to compete Competitive business has to be created in Ontario he says People staying at home buying pools MONTREAL CP With shortages of gasoline in parts of the United States and the price rising even though gas is in plentiful supply on the Canadian side of the border some Canadians are planning to spend their vacations in their own backyards this summer by their new swimming pools The Notts are one family who will not drive 1100 kilometres as they have for the last 15 years to their once favorite va cation spot John Nott said We decided to buy pool and stay home We knew it was going to be too expensive to go down to the Maritimcs what with the high price 01 gas and work on the car So last month the Notts dug saucershaped hole in the backyard and set pool on top of it the hottestselling kind of pool currently on the Mon treal market Aboveground aluminum or steelplated vinyl pools are be tween $500 and $2500 MAY ME OUT OF STOCK Peter Audet vicepresident of Dauphin lools Itd says his firm sold 1100 this year be tween March and July up from 800 last year and the company may be out of stock in three weeks Coke in Egypt CocaCola Arab nations since I967 will go on sale in Egypt banned in Saturday under an agreement with the Egyptian government The soft drink will be sold in 82ounce bot tles shown in this photograph manufac tured in Egypt AP Photo Members of the Notts family of Montreal enjoy dip in their backyard pool alter deciding not to take vacation out of town this year Other peo v1 fr in ple apparently are thinking the same way as Fran cine centre and her children JoyLinda left and Kenny and pool firms are enloying boost CP Photo Gold races past $300 an ounce jewellers worry about business NEW YORK tAlJ As the price of gold raced past $300 US an ounce this week some jewellers worried the yellow metals lofty stature on world money markets may put it out of reach of most consumers Jewellers who are the major manufacturing consumers of gold say small buyers will likely change their habits if the $30240anounce record price reached in bullion markets Wednesday holds People who buy gold jewelry buy it for the same reason they buy any type ol jewelry for its aesthetic value not as an investment said Robert Kennedy president of the Speidel divison of Texr tron and president of the Jewellers and Silversmiths of America But obviously at sotne point it is going to price itself out 01 the market he said People will buy lighterweight mate rials gold 01 lesser carat or goldfilled jewelry With the market price of bull ion 33 per cent higher than at the start of this year and up 70 per cent from January 1973 Kennedy senses swing New produce plant started toward the production of more goldfilled materials opens in Bradford Bradfords newest and most modern fully integrated pro duce packaging house was opened this Sunday by Gemini Farms Limited The new acre plant located on the 91h Concession of West Gwillimbury just one mile north of the Bradford replaces Gemini Farms original facility in Bradford which has been demolished to make way for housing pro jcct The plant contains some of the most modern packaging machinery to be found in On tario some of which has been imported from as far way as Nevada and Germany It is an ticipated the new equipment will significantly reduce the packaging cost of the vegetables package by the com pany Extensive assistance was ob tained from the Ontario Ministry of Industry and Tourism in the design of the plant layout It is estimated the plant at peak capacity will process one 100000 tons of local product annually and will employ in excess of 100 people Gemini Farms Ltd is sup plier of produce to the super markets of Ontario and Canada and also exports to the United States United Kingdom Europe Japan and the West In dies This is another example of the expanding agrolndustrial base of the Bradford region Martin Skolnik president of Wasco Gold Products manu facturing and wholesale con cern estimates that every do lar rise in bullion prices trans lates into tocent increase for manufacturers in the cost of producing for example simple l4carat wedding band One selling for about $100 at the start of the year would cost about $145 now under that for mula Not everyone however is certain whether the squeeze will also take toll on small in vestors who have increasingly turned to gold as hedge against inflation At Citibank New York bank that last April started selling $1000 gold certificates aimed at small investors reaction to the $302ltanounce price was mixed Some people have redeemed all or part of their certificates thinking they will take it and run said itibank spokesman Lester Miller Weve also had people who are holding on to wait and see what happens lty ltAlilll ALICXANDIIR Dear Sir On several occasions lawyer friend of mine has stig gested that should make out will Are there valid reasons for doing this or is he trying to generate some hefty fees from me SB Dear think many people are taking the position that if thev cant take it with them theyre not going However despite the fact that medical research has been pushing the final day for most of us further into the future it is still there Therefore will which as the name implies outlines your desires or intentions for your propertv is necessary for the majority of people if thiy want to be cer tain that their estate is distributed according to their wishes Each province of Canada has laws which deal with In testate Succession dying without will These laws were designed to be as equitable as possible in all cases but as Dollars and Sense Wills Lawyers ploy or good common sense they were written to deal with the average case it would be rare coincidence if they matched perfectly the desires of an individual in any specific case For example if man died leaving wife but no children his estate would be divided according to formula among his wife his parents and his brothers and sisters It is unlikely that this formula would match exactly his wishes will can provide for more flexible handling of legacies to minors Under an intestacy minors share may be paid to the Accountant of the Supreme Court until the minor attains the age of 18 and then given to him in lump sum will could allow the executor to use the monies on behalf of the minor until age 18 In addition there are increased costs to settle an intestacy These costs would likely greatly exceed the cost of making will Legal fees to draft will vary of course with the com plexity but for simple will would probably be in the range of $40 $60 When husband and wife have wills drafted at the same time considerable savings can result In that case the fees might be in the order of $50 to $75 IQVOI ii