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President warns about business Thomson advertising seminar held Calvin Felepchuk front row second from left Wayne Hay Bert Stevens front row seated 4th and 5th from left Advertising representatives recently attended an intense fourday Newspaper Advertising Seminar held in the Holiday inn Bar rie by Thomson Newspapers Limited The seminar was conducted by Tom Rush Career Developgient Supervisor and included indepth studies advertising layout and copy selling basics and sales aids with eye to client servicing Examiner Photo CHAYs success surprising considering short lifetime By STEPHEN NICHOLLS Of The Examiner After only two years of broad casting Barries CHAYFM has achieved weekly listening audience of 150000 and even station management is surpris ed at its early success Vincent Dittmer managing director said Tuesday research and careful programming paid off although station directors were surprised at CHAYs quick rise We werent planning to hit that figure that early said Dittmer You dont expect station in Barrie to play in that league Only stations in metropolitan centres have eater listening audiences an CHAY said Dittmer Toronto Hamilton Vancouver Montreal Quebec and Ottawa reach bigger markets than CHAY but the Barriebased station outpulls stations in Kit chener Windsor Calgary Halifax St Catharines and Victoria he said Peterborougs two FM sta tions for example have total large combined listening audience of 60000 said Dittmer key to CHAYs success is catering to large vacation au dience RECOGNIZED TOURISM We recognized the value of tourism and its bonus we give to our advertisers said Dittmer While most radio stations especially those in larger cen tros show decreased weekend audience listening increases he said have about 90 per cent of their CHAYs weekend TorontoHamilton stations Money sold here Bouey TORONTO CP Bank of Canada governor Gerald Bouey said Wednesday almost all of the central banks sales of foreign exchange to prop up the Canadian dollar in May were in the Canadian market He was responding to widespread beliefs in the market that the bank went to foreign central bank or institution to help it sell about $105 billion US in foreign exchange re serves The sales made so the bank could buy Canadian dollars were during times of heavy pressure on the dollar and were the secondlargest in Canadian history Bouey said three per cent of net sales of foreign exchange were done outside the Canadian market Its not the first time the exchange market has guessed wrong about the scale of official intervention he said Royal first in field LONDON CP The Royal Bank of Canada is the first Canadian bank to operate whollyowned merchant bank subsidiary here says NHP Harding the subsidiarys newlyappointed managing director The Royal Bank of Canada London Ltd to begin full operations June 25 will specialize in mediumterm Eurocurrency loans and in the management and underwriting of Eurobond issues Air Canada ioins US firm MONTREAL CP Air Canada has entered into partnership with Federal Express Corp of Memphis Tenn leading smallpackage air carrier as part of the national airlines expansion of its smallparcel service to more than 10000 cities and towns in North America The link between the two companies begins July with daily aircrafttoaircraft container swaps of north and southbound shipments at Cleveland Ohio 13 ggthgrlook Sex education attacked weekday audience figure on weekends Most AM radio sta tions in this part of the country drop to about 65 per cent on weekends Our weekend au dience is 174 per cent of our weekday audience About onethird of CHAY listeners are from the Toronto llamilton area he said but the station is not recruiting them in their homebase Were reaching them at the cottage or when theyre travell ing in the area Dittmer said the other two thirds of the audience are equally divided between Sim coe County residents and areas in the broadcast area outside the county CHAY broadcasts to MuskokaHaliburton in the north Toronto in the South west to Owen Sound and east to Peterborough Carefullyselected musical program miniconcerts and communityoriented news featuring about 100 con tributing reporter have at tracted many listeners he said The stations onehour news program Huronia Magazine also turned out to be more popular than station organizers anticipated We were concerned the one hour talk format might not be popular as it proved to be We didnt know how popular talk show would be versus music he said Four months after the station opened it was dealt setback The plane crash that took down CKVRIVs tower in September 1977 also reduced CHAYs broadcasting range for eight months Dittmer said the station has doubled its audience since it resumed full broadcast power By DOUGLAS GREENWOOD Theres been lot of fuss recenty in vaOntario and understand across the rest of Canada about sex educa tion in schools Since dont have any schoolage children Ive held back any comments might have on the subject except for the odd one perhaps Ive just been reading book however that can tforbear to cite from Its called The Return of the Puritans by Patricia OL Brooks distributed by Whitaker House Penisylvania In one chapter she says In Tampa Florida mother was recently convicted of the crime of removing two of her seven children from local public school to protect them from immoral and subversive textbooks and teachings Judge Morton Hanlon fined Marion Ryan $1000 put her on probation for two years and ordered her to send her children to state approved school under the threat of criminal contempt In her trial Mrs Ryan was prevented from resenting as evidence to the jury six cartons of objection textbooks number of which were written by known Marxists Pro secuting Attorne Van Voorhis actually admitted her charges by filing is pretrial motion with the court Counsel for the state moves this honorable court toenter an order specifically suppressing and excluding from evidence and argument before the jury1 Any men tion of Communism Any mention of Socialism Any reference to Russia to Any mention of religious or political views Any mention or references to textual materials teaching methods or school facilties Yet in the Florida Senate Education Committee five weeks before the Tampa trial hearing was held at which by American mattoids angry parents testified as to the content of such books One book was acknowledged by the Education Commissioner as really rotten State Senator Deeb said it tells about masturbation homosexuality and abortion saying these things are every girls right These books are more dangerous than pornography because impressionable young grls are told its perfectly all right to do these things The size of the outrage in Mcs Ryans case can best be measured by the fact that her defence attorney was not per mitted to show the judge the childrens books in pretrial hearing state Attorney Van Voorhis objected on the grounds that they were unfit for the judge to read The author of the book Ive just cited from comments What kind of problem do we have in our country when filth too gross for judge to examine is required reading in public schools for American children Have our reaucracies become insane asylums run by the inmates Well of course could stand back and adopt the wide eyed innocence of an objective reporter and say tch Saigon certainly does sound terrible but is it really that could do But you know me better than that know things really are that bad And Id say that the answer to authoress Brooks last question is for all intents and pur poses Yes in many cases mattoidism to give the afflica tion its right name really is that serious among political reformers and their bureaucracies We can all just hope that in Canada the mental state of our leaders and bureaucrats is not as rampantly lacking sanity as it is in America theexamlner Friday June 1979 Rewards high but failure possible By DENNIS LANTHIER Of The Examiner Going into business can be rewarding but it can also be risky says Paul Kuz president of the Better Business Bureau BBB of Metro Toronto Kuz with an association that also handles all consumers complaints in central Ontario says the biggest cause of business failure is over optimism Its not because of the economic climate or the field ou enter Kuz says Its because businessmen dont count on factors such as taxes renovations to meet building standards and extra payroll costs And it has been shown that not everybody is able to handle business Kuz says good machine operator does not necessarily make good foreman Kuz uays Beginning today the BBB will have direct line to service central Ontario including the Barrie area The phone number 18002687069 will service all 705 and 613 telephone ex changes up to Kingston The purpose of the better business bureau is two fold says Kuz It is formed to strengthen consurners confidence in the market place by keeping it the market place as ethical as possible Kuz says OPERATION SPOKESMAN Second the operation is the spokesman for the consumer oriented sector of the communi ty he says Third the board offers media tion and arbitration to various consumer disputes he says PAUL TUZ Boards are set up with businessmen on the panel to look at the facts and come to decision Kuz says There are 14 of these panels set up The cases are handled faster then the normal court route and costs absolutely nothing says Kuz To say the BBB is busy would be an understatement Kuz says The department receives over 1000 telephone inquiries and close to quarterofa million calls year he says The key for anybody phoning in is to keep the telephone calls as brief as possible says Kuz For everybody giving us their life story there might be 10 people trying to get through and not be able to get line he says COMPLAINTS DIFFICULT Com laints are difficult to pin own exactly simply because they are so diversified Kuz says Kuz says he has heard so many calls out of the ordinary that he should begin to pay amusement tax He says he received call from one woman who took pic tures of her daughter to be developed She returned home and open ed the envelope to find pictures of three nude adults in unusual positions on the kitchen floor But the call came at the end of the day he says said Im very sorry this is the janitor speaking Kuz says There continues to be substantial amount of various business ripoff says Kuz There are many firms that are sometimes confused with charitable organizations which work on the feelings of people he says company will go from door to door for example and got people to pay $10 for garbage bag but the money may not be going towards what people think it is he says BENEFICIAL MOVES Kuz says that it is beneficial for companies to join the Bureau It increases the companys credibility for one thing he says BBB sticker means it has met the standards and per son can feel relative degree of assurance Kuz says Local people know what businesses to trust but tourists or newcomers do not he says It also gives business access to information he says For in stance the bureau will assist if one company is trying to collect from another he says firm meeting the standards of the bureau must have been in business for at least one year he says It must be free of convictions under consumer protection and has to show it commitment to business code of ethics he says In central Ontario 8400 businesses are members of the group It rcprcscnts just 20 per cent average or one in five The primary reason for the distinction is tremendous tur novcr rate in businesses says Kuz In the case of stores and restaurants 80 per cent of them fold in the first year Kuz says Banks new name means little simply more services offered By RICHARD THOMAS Of The Examiner The services offered by the Barrie bramch of the newly formed Continental Bank formerly known as IAC will re main basically the same despite the June changeover says local representative Sandy McDonald assistant manager of the Continental Workers sell stock to Swedish firm PETERBOROUGH Ont CP Workers at Pioneer Saws Ltd have voted in favor of selling eight per cent of the shares they hold in the com pany to ABElectrolux of Sweden Results of the vote on Tues day showed 96 per cent of the 158 workershareholders favored the sale spokesman for the workers said the transaction has been turned over to lawyer but it has not been decided how the shares would be subtracted from the 2+percent ownership the workers hold in the com pany The Swedish company has al ready purchased 25 per cent of Pioneer shares formerly owned by the federal govern ment through the Federal Business Development Bank The latest transaction is under review by the Foreign In vestment Review Board Joins company ian Caunce has oin ed Willson Real Estate Limited as marketing associate He has been active in real estate sales and mar keting for 25 years Caunce and his family moved to Barrie In l978 He says he is looking forward to using his ex perience for residents in the area who wish to sell property The spokesman said the Swedish company is also nego tiating to buy another 17 per cent of Pioneer from other shareholders Company officials say that if proposed sales are approved 1000 new jobs and $25million investment will come to Peterborough Pioneer was bought in 1978 from Outdoor Marine Corp for about $10 million after OMC de cided to stop production of chainsaws and layoff 330 work ers Creation of the new chainsaw company came after year of negotiation and about $7 million in federal and provincial gov ernment money Banks Collier Street office said its main areas of business will continue to be consumer mortgage and personal loans and leasing services for which IAC is wll known The branch will offer one ad ditional service in the form of term deposits not previously listed said McDonald McDonald said the Barrie branch is one of 133 former IAC offices that will continue to of fer these select services andon ly seven of the new banks of fice in major cities across the county will offer additional per sonal banking services All branches will eventually offer full services and we hope to convert to this within the next 18 to 24 months McDonald said McDonald said Continentals full service personal banking system will include features such as customer service representative who will be assigned to look after customer personally per formance account that pays daily interest plus bonus in terest on fund on deposit for the whole month and personal credit reserve which acts as an overdraft privilege allowing customers standby line of credit Dollars sense Dear Sir have about $5000 which wish to invest with the hope of increasing it to $20000 within one year am prepared to risk It present you with an alter native to credit cards he said LEASING CONTINUES McDonald said all of the banks branches whether in volved in select or full services AAokxnrs earns $44AArKfl TORONTO CP Molson Companies Ltd reports net earnings of $44 million or $320 share for the year ended March 31 up from $309 million or $225 the previous year The company said its brewing operations achieved 35percent volume increase in Canada despite decline of 26 per cent in industry volume Total brewing volume in cluding higher export sales rose by 72 per cent to 69 mil lion barrels Total brewing sales revenue increased to $561 million from $489 million Sales and revenue of Beaver Lumber and its affiliated com panies rose to $2947 million from $2667 million October 45 October 50 October 60 will continue their leasing operations Under the Bank Act Chartered banks are not allow ed to get into direct leasing but Continental has been given 10 years to make the transition from finance company he said After that time there will be no more IAC he added Now the 12th chartered bank in Canada with assets of over $3 billion Continental had been in the planning stage since 1975 McDonald said He said IAC had become as large and as successful as it could as one of the countrys largest finance companies in the leasing field and decided to seek chartered bank status to increase its borrowing capacity and build its capital base Chartered banks are allowed to borrow about $25 for every $1 of assets whereas the ratio for finance companies is con siderably lower at nine to one McDonald said Also proposed changes in the Bank Act of Canada will likely allow chartered banks to become involved in direct leasv ing increasing the competition in finance companies tradi tional areas of business he said Options profitable but risky venture $52501 28750 6250 losing the full $5000 but cannot risk losing anything beyond that Is there any method can use to obtain this high rate of return BE Dear dont believe that the objectives you set out can be term ed investment There is no method availabie which can guarantee you 400 per cent annual return on your invest ment There is however recently developed speculative vehicle which can offer very high potential returns if you are prepared to risk total potential loss and is known as op tions trading Unlike most highly leveraged speculations the normal use of options does not involve risk beyond the actual cost of the option and brokers commission There is some option trading developing in Canada but the United States markets are more developed and therefore more active This activity is important as it means that with more buyers and sellers you have better chance of buying your option at the right price and selling it when you want to As the name implies options involve the purchase usual ly of the right to buy or option 100 shares of given security within given time period and at predetermined price For example Avon the cosmetic company is cur rently trading in the following options Option Recent Price April 45 $31250 April 50 6250 April 60 625 July 45 $40000 July 50 11875 lulv 60 3125 At the time of the above quotations the price of Avon tock was $4738 As can be seen above for $6250 you could purchase the right to purchase 100 share of Avon at $50 per share up to the end of the third week in April April 20 If by that time the price of the stock had gone above $5063 per share you make profit before commissions if not you lose Commissions would total about another $60 for both purchase and sale of our option As it is unlikely that the stock would increase that much in such short period the option can be bought at low price For the right to purchase Avon at $50 until the 26 October you need to pay $28750 If before that time Avon increases dramaicaliy you would likely sell your option and take your profit At any time before maturity the option will usually trade at price somewhat in excess of its intrinsic value to reflect the value of the leverage provided Common sense would suggest that you diversify by using your $5000 to purchase several different options but for it lustrations sake lets say that you use your £5000 to buy 14 options and by September the stock price has reached $63 which was its 1978 high Your options would each have an intrinsic value of $1300 and would likely be trading at premium of at least $200 for market price of $1500 if you sold then you would receive $21000 which after commis sions of about $800 gives you in excess of $20000 Options give you these potential profits Realizing the potential will require thorough research into the underlying stocks and market trends and good luck but the odds are better than buying lottery tickets