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the examiner serwng barrie and Simcoe county Wodnesday Auguat 1979 Published by Canadian Newspapers Company Limited l6 Baytield Street Barrie Ontario LAM 4T6 Bruce Rowland publisher NEWSROOM 20 gt53 ClICUlATlON 6539 Prompt action by lifeguards There wasnt an emergency at tentennial Iieach Sunday afternoon but it could hau llttll the real thing It happened like this Hundreds of swimmers were at the beach enjoying Kempenfest the sun and the water In the crowd the niot her of young child looked around for her youngster Suddenly the youngster was nowhere to be seen What an awful terrifying feeling child out of sight near the water What parent wouldnt panic in that situa tion The mother did the right thing she told the lifeguard at tendent of the situation What happened then and Iiap pened soqtiickly was resenteffort toithe inissingchild In an instant the lifeguard had ordered everyone out of the swimming area Itoh Hollywood ofthe tliamher ottoin meree assisted using loud speaker to order everyone out of the water and off the beach The crowd to their credit obeyed immediately Still tio sign ofthe youngster Just as quickly dragging team was orgattiZed with lifeguards and volunteers manning the equipment To anyone who saw it the dragging was not pretty sight Ilut that dragging operation organized so quickly could well have made the difference between life and death The entire operation was over in inatler of minutes There was no child in the water The youngster apparent ly had wandered off on its own and was discovered while the dragging was taking place The terrible ordeal for the mother was met She may liae llttll slightly cmliarassed by what had happened lllll any parent would liae doneexactly thesaine thing Irompt action by the lifeguards did not save life this time Itut it could in the future The false alarm showed that swimmers are in good hands with the guards who watch our city beaches They are to be commended for theirdedication toa difficult job well done 24 sumcoe yesteryear The Landing Stage at Jacksons Point as it appeared in an artists drawing done many years ago Your business By VINCENT EGAN Business and Consumer Affairs Analyst Thomson News Service Of all the financial decisions to be made in the course of lifetime surely one of the most important is the choice of an annmty or other form of retirement income Many thousands of anadians are con tributing year after year to Registered Retirement Savings llans ltHSli in spirit of prudence that is encouraged by the in centive of partial deferral of tax on current income But even greater prudence is herded when the time comes to deregister those retirement savings plans and to convert them into some kind of retirement income One course of action is to have seyeral RRSPs and to deregister one per year You take the income into your hands pay income tax on it and make it cover your living exp penses for 12 months until its time todo It all over again Thats fine as far as it goes which is up until age 71 The law requires that any ltlthl be terminated by that age BIG DECISION But what about life after age 71 Living expenses continue and inflation isnt likely lo bechecked Hence the importance of making the right decision about maturing thSls or about company pensionplan Options The decision you make is titial The law doesnt allow it to be reversed or undone in any wav even though it may have stlltlt shortcomings that soon seem glarineg oh vious we want your opinion Something on your mind Send Letter to the Editor Please make it an original copy and sign it The Examiner doesnt publish unsigned let tors but if you wish pen name will be used Include your telephone number and address as we have to verify letters Because of space limits public interest and good tasta The Examiner sometimes has to edit condense or reject letters letters to the Editor are run every day an the oditoriol page Send your to lottm to the Editor The Emulator Post Office Box 370 MINI 0M MM moat29mm Retirement plan The key decision Thats why it is important to obtain professional advice even if it costs something One characteristic of professional advice is that it is disinterested seller of annuities for instance isnt likely to be disinterested on the question of an outlet for retirement funds The difference between the best and the worst of the buys can mean thousands of dollars in onetime over the years says Robert Shortreed of William Mercer Ltd benefit consultants SOME OPTIONS The options available to the ltolder of an ltltSl at maturity go beyond the simple with drawal of cash and include ltegistered ltetirement Income Fund ltltllii ew in 1978 this is an investment vehicle that allows you each year to withdraw specific traction of the market value of all or part of maturing RHSP It is structured in way that will exhaust thefund by age 90 Fixed term certificate to age 90 This provides for equm payments blending both principal and interest from an RRSP continuing each year until the holder reaches age ttl or to the surviving spouse if the holder should die before age fill You can have any number of individual term certiticates liquidating them and paying income tax on the proceeds just as you would liquidate ItItSls from time to time lile annuity There is broad choice of types of annuities Inninediatc or deferred life only or life with guarantee period the length of which you have to choose and so on and there are more than 100 anadian insurance companies and trust firms selling annuities Illll lltiltlI You cannot assume that the specific number of dollars you have in your maturing thSl Will necessarily buy the same annuity from each insurer or trust company in the contrary the rates of return differ widely and change often and you could go cray trying to find the best on your own There are firms of financial advisers that for fee will do computerbasal research and then offer recommendations as to the most suitable options tSonie employers pay the fee as an additional benefit to retiring employees One such firm Delaney Inc of Toronto has basic minimum fee of $125 for maturing RHSPs of $20000 or less plus $50 for each additional 510000 in the fund The future remains mystery even to the professionals and their computers But its prudent to reduce the uncertainties by becoming thoroughly informed about todays options when you lock yourself into financial plan for the rest of your retired life EDITORS ADVERISNG BUSNES Jack Kerrie yforeman Len Sevrrk manager Marian Gouoh accountant tcariltauelgsirw ciatyaegditgrew or SALES 00 AN 335233 ass Ioreman BillMcFartane wire editor 5°V5 IH Gram Lorne Wa esponrens Wains Mr war Cadozisn Dave Fuller 9m Bass Stan Wray Claudia Krause SHW WM Bill Raynor Stephen Nicholls Barb Boulton Ron Gilder Dennis Lanthier Citlvm Feteochuk EaAIIenby Nancy Figueroa CIRCULATON Janie Hamel Lori Cohen Richard Thomas Stephen Gauer Betty Armer camera operator CLASSIFIED Freda Stunner ADVIITISING cussmms ausmrss 335 $3323232 776 6537 7282414 7266537 Cataneatner Parliament Hill By STEWART MacIEOD Ottawa Bureau Thomson News Service Summer sunshine has always had strange effect on idle politicians but even severe at tack of sunstroke cant account for the bizarre behavior of the federal Liberals in Quebec If it happened in the West could un derstand it In that part of the country Liberals are being given mouthtomouth reA suscitation in an effort to keep them alive until the next election But its scarcely that way in Quebec Yet the Quebec wing of the federal Liberal party had this big wingding meeting few days ago and in the circumstance would have thought they would have had mar vellous time slapping backs smiling at each other and making jokes about the Tories What else could they possibly do Well this was one Quebec newspaper account of the outcome Dramatic changes are coming to the Quebec wing of the federal Liberal party in the aftermath of its poor showing in last Mays elections The quote was attributed to Marcel Prudhomme veteran Liberal MP and chairman of the Que bec caucus IIANGE NEEDED read on incredulously Pressed for details Prudhomme said couldnt tell you All could say and knowitsa question of faith and confidence it Will change dramatically He apparently went on to say that some members have been sitting there long time and its going to be new orientation Prudhomme also suggested that in the aftermath of the May election there will be new emphasis on rid ing activities and improved communications between party militants and the provincial organization saw another rather astonishing quote SCOOPS Deuar Chapeii supervisor Bran Mum Bot Hatkes manaaer Susan Kitchen Steve whie assustam manaaet Yvonne Sierps Alva LaPtante PRESSROOM L66 We laine Porter Cheryl Aiken Fred Prince Kim Pattenden Federal Liberals in Quebec behavior simply bizarre FRANCIS FOX won victory from Francis Fox the former solicitor general who seems to be regenerating force within the party after getting into that spot of trouble of signing someone elses name to an abortion application Its time for new generation to make not only its presence felt but its input felt he was quoted as saying Weve got to make it more open party grass roots party Weve got to make it stand for policy not just for electoral purposes This would be steadfast stuff for Liberals in say Regina But for group of Grits to WELL ISNT lllAT NICE JOE IT SET OF TOWELS FROM MR TRUDEAU COMPOSIHG ROOM AI Hanson toreman Don Near assttoreman Tho lama Exominor is mombar at Thu Canadian Frau CF and Audit lumen of punlistied daily except Sundav and Statutory holidays WE EKLV by carner Circulation ABC Only tho Canadian Frost may ropubliuh now Itorlos in this mwspapor credited to CP The Auctioth Pro Routers or AW Franco Pram and local now Morin publist in Tho Barrio Examinar 95 em Tho Barrio Examiner claims copyright on all original nova and advortuing motoriol YEARLY by carrier $49 10 BY MAIL Barrie cramd by its amplcyoas and FLtlisiim in this iowspopor Copyright ragistration number 203815 rogutor 34° 40 The odnrtisor ogrm that tho publiihfl shall not bo liable for damages arising out SlMCOE COUNTY of errors in advortinmonts beyond tho amount paid for tho space actually copied $39 00 by that portion of tho odvmisomont in which tho error occurred whathor such or MOTOR YHPOVV OFF $41503 year ELSEWHERE IN CANADA 541 00a year advertisement rnant HERE IM JUST BUYING SIXTY BUCKS WOIZIH OF GROCERIES CAN CARRY THEM YOU TAKE IHE CARI give up valuable vacation time to discuss rejuvenating the party in Quebec seems akin to asking members of the Royal Family how to improve the Monarchy If the May 22 general election requires dramatic changes in the Quebec wing of the Liberal party shudder to think what may be required within the Tory party MASSIVE WIN Just for the record we might glance at the election aftermath in Quebec Out of 75 seats the Liberals breezed to victory in an astonishing 67 of them while the ragtag Social Credit group picked up six and the troubled Tories managed only two In this landslide process the Liberals collected more than 62 per cent of the popular vote while the Conservative percentage which soared to 21 in the 1974 election dropped to dismal 13 this time In 65 of the 75 seats the Tory candidates attracted less than the 15 per cent they needed to retain their deposits Even Francis Fox whose signature squabble appeared to cast shadow over his political future managed to squeak in by 30000vote margin am fully aware that every time political party holds meeting someone feels duty bound to declare that its time to get back to the grass roots And there is always someone else there to say that the lines of com munication must be improved And yes there is even the inevitable suggestion that its time to bring new blood into the party The Quebec Tories have been practising these expressions since 1867 But think the Quebec Liberals have overextended themselves this time If they felt any compelling need to meet they could at least have organized backgammon tournament to keep their minds off politics Pierre Trudeau had the right idea He went canoeing instead ror is duo to tho nogliganca of its wants or otharwisl and than shall in no liability for non insertion of any advortuomorit beyond the amount paid for such tho Publisher rosary tho right to edit roviu classify or roioct on advertise From the legislature Sales pitch time again By DEREK NELSON Queens Park Bureau Thomson News Service TORONTO Every so often provincial government ministers set sail for foreign shores and make sales pitches about thwat great place Ontario is for investors Industry and tourism minister Larry Grossman just delivered the latest to the Canadian Society in Los Angeles California What was noteworthy however was what he emphasiZed in his address He led with words to cheer businessmens heart that Canada has new federal govern ment committed to more limited role for the public sector in the economy He also pointed out that as result of the recent GATT trade talks fully 80 per cent of our exports to the US will be dutyfree That means Americans can invest here and still have free access to the huge US market But these comments took up relatively little of his speech QUEBEC FEAR More than half was devoted to just three topics Quebec separatism Ontario Hydro and global product mandating In other words what Americans fear what we offer and what we want Nothing scares investors so much as political instability and in American minds the Quebec troubles spill over into Ontario Grossman made light of the threat and spoke confidently about the Canadian future He hauled out the old line for example that the Parti Quebecois were not elected on its independence platform but rather its promise to provide honest and efficient government Grossman argued optimistically that Confederation can indeed satisfy the in terests and aspirations of all our people and what else could he say70 CHEAP HYDRO Having quited this apprehension Grossman proceeded to Ontarios virtues And he put most of his chips on our ability to offer secure supplies of electrical energy at competitive prices for manufacturing And while the radicals may camp out at Darlington to protest nuclear power Grossman was telling the businessmen that our lowcost generating capacity will continue to be augmented by carefully planned developments But in exchange for that competitive edge Ontario wants something in return BIG CONCERN Capitalintensive high technology export oriented investment projects are what we seek The Canadian operation should specialize in just few items but from top to bottom starting with research and development through manufacturing and sales He noted the example of IBM in Toronto where the branch plant is responsible for supplying specialized terminals and display units to 80 countries what is often called global product mandating Grossman left it unsaid but by implication what we dont need are warehousing oper ations that do the research and manufac turing elsewhere and only import the finished product to sell to us Backgrounder TurkGreek cultural gap miles apart NICOSIA Reuter The distance between the Greek and Turkish areas of Cyprus is only couple of hundred metres But the dif ference in lifestyles brought about by five years of division makes them seem like two different countries The events of July 20 1974 when the Turkish army invaded the 30005quare kilometre Mediterranean island with the avowed aim of protecting its Turkish minority have resulted in two separate communities Each pursues its individual business and culture as if the other did not exist In the Greek Cypriot south the economic picture is healthy with boom in exports tourism and building Inflation is counted in single figures and the future looks promising But in the north the selfproclaimed Turkish Federated State of Cyprus the echoes of the invasion are everywher About 30000 mainland troops still are present and there is similar number of newlyarrived Turkish settlers The economy is tied to the mainland which means inflation is running at about 65 per cent Most consumer goods are in short supply The main reason for such contrasts is the recognition by all countries except Turkey it self of the Greek Cypriot administration as the islands le al government This means that the worl markets are open to its exports and their governments prepared to provide aid Just how much foreign aid has been given to Cyprus in the past five years is not known but the figure runs into many hundreds of millions of dollars most of it going to the south The Greek Cypriots have profited too by their business skills and have earned reputation for creating an economic miracle Following the Turkish invasion more than third of the population of 600000 the vast majority of them Greek Cypriots became refugees Despite this handicap there is no unemployment in the south and the tourist boom has reached pre1974 figures