The Vancouver Sun from Vancouver, British Columbia, Canada • 26

C2 BUSINESS The Vancouver Sun, Wednesday, August 23, 1995 B. C. salmon situation disastrous Bank profits expected to set records The Bank of Montreal outdid the already-rosy expectations of analysts, announcing Tuesday third-quarter earnings were up 53 per cent over the year before and up 17 per cent over the second quarter. Analysts said the results will probably foreshadow similar strong profits at all of Canada's major banks. And the bank industry which earned record prolits in 1994 is on track to break the records in 1995.

The Hank of Montreal said it recorded a $2fi4-million profit in the quarter that ended July 31, or 91 cents a share on a fully diluted basis. That was up from a profit $172 million or (il cents a share in the same period last year. The bank tallied a $717 million profit over the first nine months of lis-cal 1995, up from $557 million in the lirst nine months of 1994. 'This number was well above the consensus forecasts," said Michael Goldberg, a bank analyst with James Capel Canada in Toronto. Montreal Gaiette he West Coast salmon appear headed towards the same disastrous end as the Kast Coast cod.

DAVID BOND A lit- "2. 4 1 1 1 i 4 i fiH They belong to all of humanity and the other participants in the environment. Kagles, bears and hundreds of other predators in the food chain depend to some degree upon the salmon to survive. Is it any wonder then that the salmon is held in reverence in many aboriginal legends? Hatched in fresh water, salmon migrate to sea and then return to their place of birth to spawn and die in an age-old cycle of regeneration. Salmon do not carry passports nor have flags emblazoned on their sides, so when they swim through the territory of one state or province that jurisdiction tends to consider them as being part of its territory's resource base.

If any state or province were to allow the fish to escape in part or whole because of conservation actions, the uncaught fish, if caught elsewhere, would benefit the nationals of that oilier jurisdiction at the "cost" of the "conserving" state or province. Agreeing to some quota to preserve the stocks is asking those of one country to forego catching fish without any assurance that such restraint will, in fact, be universal. Moreover, there is a great deal of suspicion that those who advocate conservation are not doing so out of concern for the fish stocks but rather out of concern for the fishers in their own In the case of salmon the problem is further complicated by the fact that, unlike Canada where the federal power to control the fishery is absolute and undisputed, in the U.S. the prime regulatory and conservation authority rests with the separate states. With fishing the second largest industry in Alaska, quotas are at the very centre of politics and income.

While the U.S. government and the slates of Washington and Oregon would like to cooperate, there are precious few ways to get the Alaskans to the bargaining table. Undoubtedly, binding neutral arbitration would be one way of settling the dispute about the total quota for the annual catch and its apportionment between jurisdictions. Hopefully, it will come to pass before the last salmon is caught. That will be almost child's play compared with problems of allocating the catch between competing interests and beginning the reversal of years of mismanagement.

No wonder politicians have consistently temporized rather than attempted to resolve the issue. Unless something is done soon it's bye-bye salmon. Views expressed are those of David Bond and not Hongkong Hank of Canada, of which he is chief economist. Internet: dbond1lHongkongbank.com 'J 4 A combination of factors has contributed to this sorry state of affairs, yet none of the culprits stand ready to own up to being responsible in any way. A 100 years of damming, destroying or polluting the streams where the salmon spawn has not helped.

The resource has been exploited by extensive fishing without any real consideration, until relatively recently, about the consequences. Government policies encouraged the upgrading of boats and equipment with the result, as documented in a 1980s Royal Commission report, that the kill capacity of the West Coast fleet far exceeded what the stocks could withstand. Nothing has happened since to change that reality. In addition, aboriginal people have begun to reassert their right to use the fish stock as a source of food and income. Providing them with an allocation of the annual catch has engendered resentment among some of those who have had to surrender part of their quotas.

Most recently, a dispute on the division of the catch between Canada and the states of Alaska, Washington and Oregon has threatened to put even greater pressure on the resource. The occasions when commercial fishing in Canadian waters are permitted have become less frequent and of shorter duration. In addition, sports fishers have had limits on their daily catches imposed. Yet the stocks have continued to decline. If things continue at this pace, the sight of wild salmon swimming up river to spawn will live on only in film and memories.

In part, the problem is an excellent but tragic example of the "law of the commons." That law states that, if some asset is held in common ownership by all the people, it will soon be depleted by overuse. Why? Because each owner believes he or she can use the asset without limit. Therefore, when each tries to maximize their own benefit, overuse and eventual destruction of the common asset will occur as sure as night follows day. The salmon do not belong to any one group nor to any one country. Tliese Impressive Specifolions Are Indeed SubjectTo Change: lease An ES For $l98iy i Willi 2,1 Iknim liiuilnl limp, yuu run a fully-fiiiipH-l, Imus for lliia S7 I "yi vpliuiulh tow rale.

An mrllrul selection i slill awiiUJe. Call or sec linla). Vy ft flour REGENCY LEXUS 1778 Burrard at 2nd Avenue Vancouver. B.C. V6J 3G7 Tulophone (604) 739-1212 RICHMOND LEXUS Richmond Auto Mali Richmond.

C. V6V Telephone (604) 273 5533 ETHICS GFMV: B.C. under served I I' s- ContinuecHrom C1 a week of local programming and share programs with Toronto station CFMT, which Rogers acquired in 1987. "This is a commercial venture supported entirely by advertisers," Viner said. It will be run in tandem with CFMT, which LAB TECHNICIAN Spagnol's Wine Beer Making Supplies is Western Canada's most complete wholesale distributor of home winemaking and brewing equipment and supplies.

We are seeking a Lab Technician, for a newjy created position, at our new Cloverdale production facility, commence. mid-Sept. 1995. The successful candidate must possess: B.Sc. in Food Science or Microbiology or Food Technology Diploma; a min.

two years' practical experience in related field; strong microbiological and analytical background, knowledge in Windows based software a definite asset. Excellent communication, interpersonal and team player skills required. Under the direction of the Quality Assurance Manager, the Lab Technician will: monitor and analyze product samples of incoming raw materials and finished product microbiologically under aseptic conditions; monitor equipment tor 100 or more full-time jobs he called "modestly successful." "It's not a big money-spinner," he said. "It produces about the average margin that a Canadian television station microoiai testing, chemical analysis ot juices ana concentrates. Forty per cent of programming would be in Fnglish and (iO per cent in other languages.

More than 20 hours a week would be in Chinese, and as many as 28 hours would be divided among five South Asian languages: Hindi, Punjabi, South Asian Fnglish, Urdu and Gujarati. Also scheduled are regular programs in German, Greek, Italian, Japanese1, Korean, Portuguese, Taga-log, Vietnamese, Ukrainian and others. As well, time is set aside for programming from independent producers in Afghani, Caribbean languages, Dutch, Hjian, Iranian, Romanian, Serbian, Scandinavian languages, Spanish and others. Viner said the station will provide 100 or more full-time jobs plus spinoffs through the production of more than 500 hours a year of original programming. It will also open a legislative bureau in Victoria, with a full-time reporter pursuing stories of interest to multicultural communities.

Viner said CFMV will provide a more professional product than Rogers Cable's existing Multicultural Channel, which broadcasts mainly programming from ethnic communities' countries of origin. He said Rogers Cable will continue to finance the Multicultural Channel. rfS Please submit resume by August 3 1 st to: Mr. Armin Prahst, Quality Assurance Manager Spagnol's Wine and Beer Making Supplies Ltd. 1325 Oerwent Way, Annacls Island New Westminster, B.C.

V3M 5VJ ABC smoke settlement 'part of pattern' NEW YORK ABC's settlement of a $10 billion US libel suit brought by two tobacco giants over a report accusing them of raising cigarette nicotine levels bodes ill for journalism, free speech experts said Tuesday. They said they feared the move is part of an emerging pattern by the corporations that own news organizations to make decisions based on money rather than defending the accuracy of their stories. "As you get more and more corporate owners there is only one thing they care about satisfying the shareholders. ABC gave in because they had to, it was a money decision. It had nothing to do with journalism," said Stephen Isaacs, who teaches ethics at the Columbia Graduate School of Journalism.

This is part of a pattern. Investigative journalism, in my opinion, is dying in lhe United Statesl," he said. ABC News settled the huge libel suit Monday by publicly apologizing for a report carried last year by its Day One newsmagazine show that Philip Morris and R.J. Reynolds added extra nicotine to their cigarettes to addict smokers. Wine Beer Making Supplies Ltd.

Fax: (604) 524-1327 uoveroaie production hacimy no leiepnonecans piease would. But it has proven, to be a successful business. And we believe it can be a successful business in Vancouver." Viner said "language markets" in B.C. are under-served by media, and advertisers are clamoring for ways to reach them. I le pointed to a forecast by Simon Fraser University professor Don I)e Vorctz that Greater Vancouver's ethnic population, which grew from 5rr.M)() in 1991 to 6.r0.000 in 1994, will hit 8:15,000 by 1995.

Nearly all the forecast growth is in Chinese and South Asian populations, and that's reflected in CFMVs proposed schedule. CODE: 'ecstatic' Continued from C1 The court decision was cheered by environmentalists, who say it leans towards a pro-environmental interpretation of the code and affects all resource industries that operate in the forests. "I'm ecstatic," said George Smith of the Canadian Parks and Wilderness Society. "The courts have recognized the environmental language in the code. "'Ilie judge is saying the Forest Practices Code places certain requirements on government to do their duty to protect the environment." Imperial Oil says it is concerned about the decision, because drilling has been delayed by government short-comings.

Imperial has already re-applied to the forests ministry to have its cutting licence approved. "We feel we did a good job," said Imperial Oil's Miles Shaw. "In this particular case, it was quashed for reasons other than actions by us." Shaw said the decision is a cause for some uncertainty. "We are not without concern, given the way it has played out" The B.C. forest industry has concerns that two separate decisionmaking processes could lead to gridlock in the woods.

"As soon as you have two people making decisions, you can have two contrary opinions. Then what?" said Prian Gilfillan of the Council of Forest Industries. He said forest licensees could find they have difficulty resolving gridlock caused by dual decisionmaking. However, Forests Minister Andrew Petter sees no such problems. I le said although his ministry must now exercise its own discretion in approvals affecting the oil and gas industry, he does not anticipate any uncertainty for either industry.

The decision indicates there are two agencies that each have independent dmsion-maWng authority," lie said. "We will Work in cooperation to make sure that doesn't destabilize things for the industry but also to make sure that we live to the spirit and letter of the legislation." Evidence before the court showed the forests ministry issued the licence because the lead agency, energy, had already issued the licence to drill a well. Justice Allan said that was wrong. The ministry has a separate judgement to exercise and in doing so must lake into account the code, she said. ORCA: stadium on time, on budget REQUIRED TO RUN LARGE ENGINE ROOM MAINTENANCE FOR REFRIGERATION AND PROCESSING PLANT IN SURREY.

The qualified applicant must have sood manaserial skills. Refrigeration T.Q. and experience with brine freezing equipment are an asset. Must have a minimum 5 years experience with ammonia systems. The successful applicant must be able to work flexible hours as required.

Participation in our quality management program. Participation in plant safety program. Minimum salary $65,000 Plus Performance Bonus Please reply with resume in writing to: SCANNER ENTERPRISES (1982) INC. ATTN: PERSONNEL DEPT. 8305- 128TH STREET SURREY, B.C.V3W4G1 Continued fromCI (The legal work establishing the new company has yet to be completed although the new name and logo were unveiled with considerable fanfare Tuesday.) While he has lost financial con-Irol, Griffiths has an open-ended contract as chair and chief executive officer.

Griffiths estimated the assets of the company at $400 million; million of that is accounted for by the stadium that is on time and on budget. But that doesn't mean there still aren't linancial worries. The NBA locked out its players The Power of Good Understanding your Credit Credit can be one of your most valuable personal assets. Establishing and maintaining a good credit history can assist you in the management of your financial affairs The Credit Grantors' Association ot Vancouver wish to remind you that you may view your credit record at the Credit Bureau of VancouverEquifax, free ol charge. Please telophono (C04) 605-51 tl lor more information.

ESPRIT July 1. A tentative agreement was reached, but a group of players moved to decertify the union because' they weren't happy with the agreement. Votes will be held Aug. 150 and Sept. 7 to determine whether to decertify the union or accept the contract.

If the labor dispute continues, (Irif-filhs said it will cost the Grizzlies "lots." How much, he said, is almost impossible to estimate. However, he noted season ticket holders are meeting all the payment schedules. Kven if there is a strike, Griffiths said it won't put the stadium at risk because the financing is based on the Canucks being the sole tenants. At the press conference which doubled an unofficial opening Tuesday Griffiths said including the Grizzlies 41 home games, there are 175 events booked for the coming year with 2f more are anticipated. Among the non-sporting events booked are Hryan Adams for the Sept.

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