The Gazette from Montreal, Quebec, Canada • 39

3 THE GAZETTE, MONTREAL, WEDNESDAY. DECEMBER 13. 1995 CanWest would target U.S. foes Says ad dollars have gone south Bank rate climbs to 6.22 per cent Thiessen denounces high debt OTTAWA The Bank of Canada bank rate rose yesterday to 6.22 per cent from 6.03 per cent last week. Over the past year, the rate has ranged from 6.07 per cent, where it stood two weeks ago, to 8.6 per cent on March 7.

The rate is set each week one-quarter percentage point above the average yield on MARY LAMEY THE GAZETTE Nov. Dec. Oct Prime rate 7.75 10 9 8 7 6 5 4 3 2 90-day government treasury bills sold at auction to financial institutions. In Ottawa yesterday, Bank of Canada governor Gordon Thiessen denounced Canada's high debt-to-GDP ratio, saying lower interest rates depend in large part on dropping that level. His comments come less than one week after Finance Minister Paul Martin said he was aiming for a budget deficit of 2 per cent of GDP by 1998.

Even with that goal, though, the 1 v-v-v." Bank rate: 622 Last week: 6.08 One year ago: 7.03 0j 1995 Source: Bank of Canada Southam News Graphics RYAN REMI0RZ, CP Louis Audet says Cogeco could easily finance a takeover of CFCF. Cogeco cries foul Says rival deal 'pulled out of thin air' At least $10 million in annual advertising revenues is slipping over the border to U.S. broadcasters because of a lack of choice in the English Montreal television market, the president of TVA-CanWest asserted yesterday. TVA-CanWest expects to repatriate those ad dollars when it launches Quebec's second private English television station next fall, Glenn O'Farrell said yesterday during a meeting with The Gazette's editorial board. But O'Farrell voiced strong concern that the legal battle pitting CFCF Inc.

and Groupe Videotron Ltee against Cogeco Cable Inc. could delay the launch of TVA-Can West's station based in Quebec City, but serving most of Quebec. Quebec is the only province in which Winnipeg-based CanWest Global is not established. It owns or runs stations in most of the country, except Alberta, where it sells much of its programming to small independent broadcasters. CRTC complication A delay in the Quebec launch is possible because the Canadian Radio-television and Telecommunications Commission has said it wants to examine a proposed asset swap between CFCF and Videotron before deciding whether to grant TVA-Can West a broadcast license.

CFCF would exchange its cable operations for Videotron's broadcasting arm, Tele-Metropole, home of the TVA network. If the deal goes through as announced, CFCF would control both of Quebec's private French broadcasters, as well as CFCF-12, Quebec's only private English broadcaster. It would also gain a minority stake 49 per cent in TVA-Can-West's Quebec City station, CKMI. Cogeco Cable has made a counter-offer to buy CFCF, an offer that CFCF's controlling shareholder Jean Pouliot has rejected outright. Cogeco says its proposal would resolve the question of concentration of ownership.

TVA-CanWest was to appear before the CRTC at the end of last month, but the commission put the hearings off until the dust settles on the CFCF-Videotron deal. Possible escape hatch Yesterday, O'Farrell said he is concerned that Cogeco might continue to throw obstacles in the way of the transaction right up to the Supreme Court. If that happens, he will urge the CRTC to grant CanWest's license. "Our position would be that the (CFCF-Videotron) transaction is a third-party transaction that has nothing to do with us. Why should we be held in abeyance?" As it stands, TVA-Can West expects to appear before the commission in late March, leaving little time to prepare for a fall launch, he added.

O'Farrell dismissed concerns that too much power would be concentrated in the hands of CFCF if the asset swap goes ahead. CanWest, with a 51-per-cent stake, remains the majority shareholder in the partnership. If the CRTC requires CFCF to divest itself of CKMI as a condition to letting the Videotron deal go through, CanWest is in a position to go ahead with the station launch on its own, or look for a new partner, O'Farrell said. There are "half a dozen potential players" that might be in a position to get involved, he added, naming Cogeco, Astral Communications and Cinar Films as possible candidates. "Whether they are interested, I don't know." CFCF had been scheduled to intervene against TVA-CanWest before the CRTC and to raise the issue of the fragility of the local English-language ad market.

ALLAN SWIFT CANADIAN PRESS ratio of Canada's debt-to-GDP will be little changed. Speaking to the standing committee on public accounts, Thiessen said some "measures taken by the federal government" this year to lower the budget gap have helped ease "some of the nervousness in financial markets" about Canada's finances. But he added, "Once very high debt levels are reached, just stabilizing the debt-to-GDP ratio may not be sufficient -lower ratios may be needed." Canada's public debt now stands at some $578 billion, which represents about 73 per cent of the total output of goods and services. That's up from 19 per cent in the mid-'70s. As a result, roughly 30 per cent of total government revenue goes to pay debt charges, in sharp contrast to 20 years ago when 10 per cent of revenue paid down interest.

CANADIAN PRESS, BLOOMBERG BUSINESS NEWS Highway hell Truckers, cor drivers in head-on collision over highway safety Splat. 'You probably recognize those sounds from when you sit in a 'car's driver's seat watching an 1 8-wheeler pass you on an antoroute in a rainstorm. -They're similar to the reactions 1 got on the telephone last week after a column on how trucks have taken over our roads. Splat. Trucking folk, as they say, are vocal and direct.

As an illustration, the half-dozen calls from the trucking fraternity said I was either a sissy or I needed driving lessons. 'The sissy label might be right, because my main preoccupation when I drive a car is to stay alive. They might be right, too, about the driving lessons. Though I don't want to brag. I have held driver's licenses from two provinces and two European countries, including Britain, where a license is notoriously difficult to get.

I got it after two tries and the license is valid until 20 1 3. Cogeco goes to court this week to try to force CFCF, which holds its annual shareholders' meeting today, to submit Cogeco's offer to shareholders in two separate votes: one for the majority and another for minority shareholders. Cogeco owns 9.5 per cent of CFCF. Audet told shareholders the company would have no trouble financing the takeover, which could cost up to $270 million. "We have the lowest debt-equity ratio in the (cable) business," said Audet.

Ross Gledhill, a shareholder and money manager, said the asset swap between Videotron and CFCF falls into a trend of companies moving back to their core business. As for Cogeco's proposal, said Gledhill, "These guys seem to want to do everything. "They're still focused on being a media conglomerate. The tendency in Canada seems to be going the other way." The company's revenues grew to $207 million in the year ended Aug. 31, but profits were cut in half to $5.2 million, partly because of severance costs.

President Louis Audet of Cogeco Inc. suggested yesterday that an agreement between media companies CFCF Inc. and Groupe Videotron Ltee was done in a hurry to thwart Cogeco. Cogeco announced on Nov. 13 its intention to buy CFCF when it became known that CFCF was talking to Videotron, noted Audet.

"Then on the night of the 17th, this (CFCF-Videotron) transaction was pulled out of thin air," said Audet, whose firm has 436,000 cable-TV subscribers in British Columbia, Alberta, Saskatchewan, Ontario and Quebec. Audet, interviewed after the annual meeting of the company, said he remains confident Cogeco will succeed in getting CFCF. even though the broadcaster's majority shareholder, the Pouliot family, has steadfastly refused. "CFCF's minority shareholders would love to take our offer," claimed Audet. "I think in time our offer will appear tempting." Deadlines for reservations and cancellations (987-235 1 Careers Thursday- noon Tuesday Friday- noon Wednesday Saturday- noon Wednesday For proofs, add 24 hours Sunday -noon Friday Monday- noon Wednesday Tuesday- noon Friday Wednesday- noon Monday Then there was the caller who accused me of protecting "those yahoos" on the roads, by which lie meant car drivers.

You get it. Truckers, like everyone else, but more than most, don't like to be criticized. Among the more reasonably phrased replies, though, was one from Rick Karper, president of Hertz LoMont on Cote de Liesse Rd. "Normally, I rank you and Reed Scowen amongst my favorite business columnists," he wrote. "However, I am quite disturbed by your column of Wednesday, Dec.

6 in which you came down extremely hard on the trucking in AMES FERRABEE BUSINESS EDITOR SALES MARKETING DIRECTOR Careers Confidential Service You need not take the chance of replving lo an ad using a (iacttc Box Reply and dtMXnertn thai the advertiser is a firm or individual that you would netcr haxc answered had ou known their identity. Simply put our application along with a list of such companies or persons in another envelope addressed to Confidential Service" Box MOol Sua. Centre-Yille, Montreal, Que. H3C 4ZX your list will be carefully cheeked against the box advertiser's name and if one of your listing corresponds, vour application will be destrou-d. Concordia Furniture Ltd.

is seeking a Sales and Marketing Director for its Canadian territory. The person will be responsible for leading and reinforcing the sales force, and as a member of the management team, work on marketing orientation, elaborate commercial strategics, and identify tomorrow's market niches. The candidate must possess priormarketingandsalesexperience, and dealing with furniture retailers and distributors would be an asset for this position. Outstanding motivational, result oriented, organizational and communication skills arc absolutely essential. Please forw ard your resume in strict confidence before December 22 to: Concordia Furniture Ltd.

James Florio 11001 Secant Anjou, Quebec H1J 1S6 or fax (514)355-7470 fllilllflllfl) Montreal Product Integrity Manager Northern Telecom, a leading global manufacturer of telecommunications systems, is ahead of the technology curve. We've earned a reputation for excellence in networking technologies that support our product portfolios, namely switching networks, multimedia communications systems, wireless systems, transmissions, broadband networks and network applications. Our incredible success and position of leadership in some of today's hottest technologies means we're here to talk opportunities in this case, as a member of our team working with transmission products. You'll be responsible for managing a group of Engineers as they develop and implement regulatory evaluation programs for telecommunications products from the conceptual stage through to the support of products in production. You'll also liaise with the cross corporate regulatory compliance team to ensure the consistent application of, and adherence to, standards across the organization.

You hold an Electrical Engineering degree enhanced by a minimum of five years' experience in an electronics design environment and extensive knowledge of electronic reliability engineering and EMC engineering. Familiarity with the ISO 9000 and Safety and Telecom Interconnect regulations would be beneficial. Experience with telecommunications products would also be a definite asset. Bilingualism in French and English is essential. Contact us by sending your resume, quoting Stop No.

ENA3I6MG, in confidence, to: Northern TelecomBell-Northern Research, National Resourcing Center, P.O. Box 3511, Station Ottawa. Ontario K1Y 41 17 Fax: 1-800-906-5554. All resumes we receive are elect ronically OCR scanned. Please submit a letter quality resume with a standard typeface and no bold or underlined areas.

We thank all applicants for their interest, but advise that only those selected for an interview will he contacted. Northern Telecom and Bell-Northern Research arc equal opportunity employers and support a smoke-free environment. BNR COMMUNICATIONS LTD. Make Your Career Take Flight! dustry. As well, whoever wrote the headline Those must also do the ones for Ann Landers.

"A typical 1 8-wheeler pays approximately 1 3,000 in registration fees, federal fuel tax and provincial road tax annually. This is approximately equivalent to the amount paid by 1 5 normal automobiles." He dismissed the idea there should be lower speed limits for trucks. It would simply increase the numbers on the roads, he said. As for the railways, the main competition to trucks, he said they represent 1 9th-century technology. He ended by saying, in effect, the more trucks you see, the better shape the economy is in.

"As a leading economic indicator, we should hope to see many more trucks on the road." The reaction from car drivers was even stronger. They are clearly frustrated and angry at what they see as a truck takeover of the main highways in the country and what they sense is the I-don't-give-a-damn-attitude of many truckers, much of the time. Judith-Elaine Cowan from Trois-Rivicres summed up her views in an emotional letter written the day the column appeared. "Thank you, thank you, thank you for at least addressing the terrible danger of the big trucks You give me, and doubtless many others, hope by addressing this problem as you have." She said she drives frequently between Trois-Rivicres and Toronto and it has become so dangerous she bought a pickup truck and put weight in the back in order to feel safe competing with trucks. "What a hell it is.

They don't even slow down for the thick slush on the road. Of course, accidents are increasing." Cowan would like to be able to put a small car on a train, and recover it to use locally anywhere in Canada. She is dreaming about the railways providing such a service, but her frustration is boiling over. "The trucking lobby has, in effect, made four-lane highways unusable by the general public." She points out, too, that older people feel particularly vulnerable when they find themselves dodging huge transport trucks on the highways. "You are right, you sec.

You have hit a nerve Please don't give up now. Take it further. I don't know how to do it, but surely you must." Well, I don't know how to take it further. But one way is to print more reaction from car drivers and truckers. No one wants to push trucks off the roads.

They are too important to the economy. Yet every one except truckers wants tougher rules of the road for trucks. Tougher rules have been implemented in many American states. New Jersey, for example, has dedicated lanes for trucks. Trucks in Britain and Germany arc tightly controlled ontheautoroutes.

And there is more reason for stiller rules in Canada because our weather conditions for four or five months of the year arc far worse than those of New Jersey. Britain and Germany. That means the possibility of serious accidents is higher. Whoosh. Splat.

As Cowan put it: "What a hell it is." Hummingbird, the worldwide market slnire and technology lender in the PC to UXIX integration software industry, lias immediate opportunities for the following positions located at our corporate headquarters in (S'orth York) Toronto. Software Development Engineers with at least two years' programming experience in the following areas: Windows applications design and development; CC and MFC. Experience in applications development and programming in Windows NT, Windows 95, NFS, TCPIP, IBM 32705250 terminal emulation and SNA, would be an asset. Technical Support Specialist with an excellent general computer background and a minimum of five years' pre or post-sales technical support in IBM 32705250 terminal emulation and SNA. Experience in many or all of the following areas would be desirable: PC networking, specifically TCPIP implementations; Windows, Windows 95, and Windows NT; OS2; UNIX operating systems; the Windows protocol.

Having exceptional communication and presentation skills, the Specialist will join our Technical Marketing team as a primary technical resource, working closely with Hummingbird's sales force in sales presentations, demonstrations, training, consulting, pre-sales troubleshooting and participate in corporate trade show events. Hummingbird offers one of the most exciting and dynamic working environments in the North American software industry. Relocation expenses will be covered for the successful candidates. Qualified applicants should submit their resume to: Human Resources, Hummingbird Communications 1 Sparks Avenue, North York, Ontario, M2H 2W1. Fax: (416)496-2207 No agencies or telephone calls, please.

We thank all applicants but only those selected for an interview will be contacted..