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Page 15, News, Tuesday, May 7, 1991 Hearst's long-range diversifi- cation plan. To go one step further than the Liberals, we could start to think about all the money in locally run credit unions. In Thunder Bay for example, a dozen credit unions control nearly 25% of the banking business. West Fort William Credit Union (the largest in the city) controls cver $60 million in assets. Most of that money is tied up in residential mort- gages, but other credit unions are not so restricted. Just like their counterparts in the pen- sion plans, the credit unions tie up their long-term funds in "safe" investments, like Treasury Bills and blue-chip stocks. What about putting some of that money to work in this area, more than it is already? If we pool our resources, and convince the government to back up the fund with legisla- tion and financial accountabil- ity safeguards (just like other pension plans and financial institutions) then the north would have some capital to work with. Chartered banks, historically, have not demon- strated any great willingness to play a role in regional devel- opment, given their commit-_. ment to their next quarterly financial statement. A north- ern-based fund, with a man- date to take a longer-term view, might just be able to make a difference. The Liberals also suggest that "major industries in north- er Ontario re-invest at least 20% of their annual profits into modernization and pollu- tion control". That recommen- dation makes sense for the good times, when the balance sheets are in the black. But what about the hard times, when the red ink is running freely? Under the Liberal plan, does re-investing in modernization and pollution control only happen when times are good? Sometimes, the best way a company can turn itself around is bite the financial bullet, and modernize and clean up its pollution, despite the red ink. I'm not convinced by the Liberals' argument about this one. What about the old idea, origi- nally promoted by the Liberals when they were in power and the Conservatives when they were in opposition, of "tax fairness" - dealing with the reality that the federal and provincial governments are getting a larger and larger share of their tax revenues from individuals, and less and less from business? In 1989 for example, 118,162 prof- itable corporations making more than $25 BILLION in profits managed to escape pay- ing ANY income tax through various loopholes and defer- ments. Despite limitations like that to the northern Ontario Liberals' plans, they have managed to lay out a reason- able set of ideas. The way the national polls are running right now, the Liberals have a rea- sonable chance of forming a minority federal government with the support of the NDP (with the Conservatives, Reform Party and Bloc Quebecois in opposition). I'll keep my copy of the Liberals' report until then, to sec if they implement their wish list. {= STUDENTS WANTED 12998 try then read on. ment in the hospitality sector. high school guidance office or call 825-9688. WHEN: Saturday May25th, Sunday May 26th 10:00 a.m. to 4:00 p.m. WHERE: Terrace Bay Curling Club rebate upon completion of course. Simcoe Plaza or call 825-9688. Sponsored by the: Wellington - In loving mem- ory of James Wellington. Tt's lonesome here without you Beetle TJ miss you more each day Somehow life does not'seem the same Since you have gone away My heart still aches with sadness, My eyes shed many a tear; God only knows J miss you As this ends another year. Organization. Me (f you are a student who will be looking for work this summer in the hospitality and tourism indus- We are hosting a two day Service Skills Program which will make you more aualified for employ- Ask about the Service Skills Program at your COST: $25.00 registration fee, with a $10.00 HOW: Register by Friday May 17th at the Schreiber - Terrace Bay Community Futures on Schreiber - Terrace Bay Community Futures \ J ; : Sadly missed and remen- Royal Canadian Legion oe Branch #223 bered by his wife, will be holding a Shauna Wellington Dance with the 50's - 60's music etre ge oe wo Hadder's Gewellers (Randy Kushnieryk) "OPM aM. ABB SPRING SALE , BEST DRESSED AWARDS ~ a {et Piace-$75 2nd Place. $50 f in time for Mother s Day. 8rd Place - $25 y Wed. May 1st to Sat. May 18th. Admission $3 single / $5 Couple OS ALE SALE SALE SALE 70% OFF selected items 50% OFF citizen watches 40% OFF pendant sets 30% oFF 10k earrings & charms o 20% OFF remaining stock SALE SALE SALE SALE For value you can trust, shop Hodder' s Jewellers. Terrace Bay Plaza _| Marathon Centre Mall TRICHILO Mare and Karen of Schreiber are pleased to announce the birth of their second child, Toni Eileen. A sister for Chelsea. Born April 19, 1991 weighing &lbs. 7 O02. Proud grandparents are Giovanni and Teresa Trichilo and Tony and Beulah Speziale, all of Schreiber. A special thanks To Dr. K.W. Wilkes, and the nursing staff of Visa & Mastercard Accepted ©