The Vancouver Sun from Vancouver, British Columbia, Canada • 40

BUSINESS ill The Vancouver Sun, Wednesday, September 4, 1996 i D4 i wm KVOS from page Dl turn Investing in education provides solid re Bill C58 was protection BULLETIN against US andFrisky Frolics. Although it broadcast from south of the line, its Vancouver production centre occupied a city block at Burrard and Pacific and in its heyday it employed This week marks the start of a new academic year for millions of Canadians. Investing in education, building what is called human capital, is wise. Recent work by economist Craig Riddell at UBC gives graphic evidence of just how valuable an investment in education can be. Looking at employment data from 1980 to 1995, Riddell found that from 1980 to 1989 employment for those with only elementary school education declined by 29.7 per cent; for those with some post-secondary it rose 52.6 per cent, and for those with auniversity degree it rose 69.8 per cent.

From 1990 to 1995, employment of those 15 years or older with only an elementary education declined by 29.2 per cent, for those with incomplete high school it declined 18.8 per cent, for those with some post-secondary education employment rose 0.9 per cent and for those with a university degree it rose 28.4 per cent. 155 the Lower Mainland, nearly all Canadians. It spent millions on locally produced programming. The good times ended in 1976, when DAVID BOND When we examine the most recent entrants into the workforce, those aged 15 to 24 years, employment of those with elementary education declined by 41.7 per cent from 1990 to 1995; for those with some or all of high school it declined by more than 20 per cent, while for those with a university degree it rose by 19.6 per cent Simply put, the better your education the better your chances of finding work. These data show the demand for highly educated individuals is expanding and the employment potential for unskilled workers is shrinking.

Instant communications and jet-speed intercontinental travel globalized the competition for unskilled labor. Consequently, at North American wage rates, our unskilled labor is too expensive. That's not to say there will be no demand for unskilled work in Canada, but rather that such jobs will be shrinking rather than growing. While Canada made a prosperous living exploiting its raw materials in the past, the future will demand that the federal government introduced legislation that's still known as Bill C58 in media industries. It was Canada's weapon against American magazines on the individual's lifetime future income tax.

Forget all those arguments about the intolerable burden of debt for getting an education. If your future income is low, your payments will be low. But if your income is like Michael Jordan's, then so are your payments. In other words, the repayment is scaled to what you can afford and, if you do not wish to borrow, you can pay upfront. The beauty of the system is that no one is denied access because of lack of resources.

Free from constraints in government funding, universities will compete to attract the best teachers and students, and society as a whole would benefit from a more efficient use of scarce tax dollars. It would appear that the only opposition is from those who are enjoying a free ride now. Not surprising, since I've never found anyone who does not like a subsidy which is to their benefit. The subsidized free ride will soon begin to decline rapidly since governments are encountering taxpayer resistance. The contingent income loan plan means, of course, that politicians will not be able to campaign for votes by freezing tuition, thereby forcing a gradual by steady decline in the quality of education.

Perhaps that is why such a plan does not exist Vines expressed are those of David Bond and not Hongkong Bank of Canada, of which he is chief economist Internet: dbondHcmgkongBank.com can communicate effectively both orally and in written form, who have basic numeric skills and who can do cognitive reasoning, that is examine an action or problem and draw conclusions. But those factors only provide the base upon which a skilled workforce is built. What is needed is further training. That is achieved either in a specific trade or craft, and the demand for these types of technicians is growing at a steady rate, or by following a program of studies at the university level. Riddell doesn't break down employment between the various university disciplines, but the evidence is conclusive that despite what one hears, there is not a vast amount of underemployment.

For example, a university graduate working as a waiter or taxi driver is not as common as we hear. Even the most recent university graduates have a higher income level on average than any other group when classified by educational attainment. On average they earn more that 2.2 times the income of someone with only elementary school education and twice as much as someone with only a high school diploma. These figures provide further support for income-contingent student loans as a means of financing post-secondary education. That type of program makes loans for education available to anyone who applies, with repayment in the form of a surcharge such as Reader Digest, Tune and Sports Illustrated, which were selling ads and magazines in Canada but producing their product almost entirely in the U.S.

They were killing the Canadian mag azine industry, and the government used Bill C58 to stop Canadian advertisers from deducting the cost of ads in American magazines as a business expense. The TV industry, irritated at cross-border stations operating across the country, successfully lobbied to have the tax change applied to their industry aswelL we rely increasingly upon the prod "The irony was that the station that ucts and services produced by a highly skilled and flexible workforce. was spending the most money in Cana The fundamentals of building that da, KVOS-TV, was the one that was wiped out," Reid says. workforce require individuals who Faced with huge revenue cuts, the sta tion laid off 130 Vancouver employees, Ships calendar all Canadians. To survive, KVOS cut its ad rates to the net cost of tax-deductible Canadian ads.

A VANCOUVER HAffiOR AND FRASER PORT Ai ot 8 Wednesday (subject to change) Irrtormetlori supplied by the Harbor Mutar'i Office, Vancouver Port Corp. ARRIVALS: Rubin Iris, Heron, Buenaventura, Star Haroanger. DEPARTURES: Noordam, Alligator Pnde. Anangel Spirit, Bismihitala, Dong He, Emerald 10, Feng Shan Hai, Hyundai 108, Maerek Tas, Merchant Pioneer, Sea-Land Mariner, Serenity. That left a lot less money for pro- granuning, which accounts for the sta tion lineup these days: mostly older movies and syndicated U.S.

programming. It employs only about 20 people in Vancouver now. But it still has viewers seven per cent of the Vancouver market, good enough tor a fourth-place tie in the ratings and so it still has advertising. A market study done for the CRTC pegs Computer chip fault forces Caddy recall General Motors will begin a recall this week of nearly 600,000 Cadillacs to replace a computer chip that causes air pollution. The U.S.

Justice Department said Tuesday the recall affects most Cadillacs with 4.9-litre engines made in the years 1991 through 1995. The chip, in the emission control system, causes carbon monoxide emissions up to three times the U.S. legal limit when the system is on. GM agreed to recall the Cadillacs last November to settle the government's claims they were violating the Clean Air Act. The settlement also requires GM to pay $11 million US in civil penalties and to spend $7 million on projects to reduce air pollution from automobiles.

A GM Canada official said the recall SHIP FLAG AGENT BERTH CARGO AlWadryu Panama Robert Retard Pioneer Grain Amy Panama Anchor Shipping Anchorage Atlantic Sapphire Panama Empire Shipping United Grain Grower Grain Buenaventura Panama Kerr Norton Marine vamerm6 Containers Bunga OrUd Situ Malaysia Canpotex Shipping Service Vancouver Wharves 4 Sulphur Cape Falcon Panama Montreal Shipping Roberts Bank 1 Coal Cordelia Panama Empire Shipping Ceres Terminal General Cynthia Hope Philippines Canpotex Shipping Service Neptune 2 Potash Emerald Coast Philippines Canadian Transport Co. Fraser Surrey 7 Forest products Full Spring Hong Kong Maple Shipping Vancouver East Anchorage Sulphur Hector Bahamas Maple Shipping United Grain Growers Grain Heron Greece Greer Shipping Padhc Coast Bulk 1 Sulphur Ja Rainbow Panama Global Mahne English Bay Anchorage 2 Gram LTPragatl India Greer Shipping Saskatchewan Wheat Pool 2 Gram MariaS J. Liberia CanpoteK Shipping Sendee English Bay Anchorage 6 Potash MarkosN Greece Manhattan Shipping English Bay Anchorage 8 Grain Mayflower Liberia Canpotex Shipping Service English Bay Anchorage 10 Grain MuhPurpoae4 Malaysia Maple Shipping Vancouver Wharves 5 Potash Ocean Royal Korea Empire Shipping Inner Harbor Anchorage A Grain Pearl Wave Liberia Colley Motorships West United Grain Growers Grain Rubin Iris Panama Global Marine Fraser Surrey 4 Steel Sagacious Nike Panama Pacnord Agencies English Bay Anchorage 5 Grain Silky Ocean Panama Pacnord Agencies English Bay Anchorage 1 Phosphate rock Skaugran Norway Seaboard Shipping Seaboard Intl. Terminal 2 Forest products Star Derby Norway Star Shipping (Canada) Ballantyne Pier 4 Forest products Star Hardangar Norway Star Shipping (Canada) Lynnterm Forest products Star Trondanoer Norway Star Shipping (Canada) Centerml Forest products SurugaMaru Japan Greer Snipping English Bay Anchorage 11 Coal Theotoko Greece Maple Shipping English Bay Anchorage 3 Grain Tone, Mai China Colley Motorships West English Bay Anchorage 15 Gram Triton Liberia Maple Shipping English Bey Anchorage 4 Fertiber ARRWAL8DEPARTURES WEDNESDAY AFTER LOO AJL Mark W. Schnarr Vice-President and General Manager of BC TEL Interactive BC TELECOM is pleased to announce the appointment of Mark W.

Schnarr as Vice-President and General Manager of BC TEL Interactive, effective immediately. Mark will play a key role in bringing BC TELECOM'S new interactive multimedia services to customers in B.C. He will also oversee an expanding portfolio of existing interactive services, including Discover British Discover Camping and Sympatico, our consumer Internet service. Mark, who has a degree in Business Administration from Simon Fraser University, has held a number of senior management positions since joining BC TEL in 1980. Most recently, he was vice-president and general manager of our enhanced services division.

BC TELECOM is Canada's second-largest telecommunications company, offering a full range of products and services to customers throughout British Columbia. BC TELECOM shares are listed on the Toronto, Montreal and Vancouver stock exchanges. The share symbol is BCT. ISret EXPECTED ARRIVALS: Saga Sky, Scantro. likely applies to cars in Canada but de Bonds tails were not immediately available Associated Press TORONTO (CP) Seleettd quotaions.

with changes sine the previous day. on actively traded bond issues. Yields calculated to lull maturity, uniess marked to Matt caHaMe date. Fmdpritrjerwawtiria1rasrvJ tsk quotalions Tuesday. Price YlaM Cnga HOUSING from page Dl WYtrrfOttNl CANADA IS-Mar-97 101 818 4 468 -0 037 15-Sep-97 102 4872 -0060 8.00 700 15-MJI-96 101235 l-Nov-96 5147 5693 5866 -0 060 -0060 -0 060 104 605 99 735 104475 106 679 103426 103 325 l-Mar-99 1-Sap-M l-Mar-00 1-Sep-00 1-Mar-OI Fraser Valley market looks good heading into fall 6089 -0060 6334 -0086 6510 -0 091 6631 -0100 l-Oct-01 111 625 6 751 -0 150 l-Dec-01 113006 6755 -0123 l-Apr-02 107607 l-Jun-03 100896 6833 -0102 7077 -0020 Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada Canada 600 800 575 775 850 750 750 950 975 850 725 750 650 900 875 700 1000 950 900 10i5 975 t-Oec-03 101 878 7.160 -0025 7i52 -0 047 tering the market as interest rates drop and consumer confidence increases.

The Fraser Valley Real Estate Board reported similar sales trends, with Au 1-Jun-04 95.594 1 -Dec -04 110 435 l-Dec-05 109 120 l-Oec-06 96 726 7289 -0048 7368 4030 7461 -0018 its take from the Vancouver market at close to $24 million last year. Now, with a new Vancouver licence up for grabs, they're taking shots at KVOS again. Three of the five applicants Asper's Canwest Global, Znaimer's CHUM Ltd. and Craig Broadcast Systems are claiming they have just the format to repatriate all those dollars to Vancouver. The hope is the CRTC, which has no jurisdiction to regulate KVOS' Canadian content, will smile on anyone who promises to slay the beast ofBellingham.

Gibson, KVOS' Vancouver-based vice-president of sales, fumes when he thinks about it "We invested in this country and we had employees who were Canadians and we were spending a lot of money in this country, and it was us that got hit by the tax change. Now there's this misinformation from the East. They don't understand this market and they don't understand this particular station and what we have done over the years." Gibson and Reid can take comfort in one thing: There's probably no silver bullet that can kill tough old KVOS. The CRTC tries to be careful when it licenses new stations that the local market can absorb a new player without killing one or more incumbents. Its market study, by Coopers and Lybrand Consultants, says "if a new station entered the market, KVOS would be impacted in much the same way as the private con-ventJonal Canadian stations." Media buyers view KVOS as just another Vancouver station, which means when they book time for commercials, they look at ratings, not its nationality.

A new outlet will draw its business from everyone else in the market, not just one station, says Bruce Cowie of Electro-home broadcast group. "If I was KVOS, I don't think rd be shivering in my boots too much," says Cowie, whose company has a joint bid with Baton Broadcasting for a licence. That's also Gibson's view. The shots from Asper and Znaimer may irritate him, but he's not fearing for his livelihood. They're not going to just hurt KVOS.

They're going to hurt everyone to a degree as they start It's another outlet for advertisers. We feel in the long run it's good for the market place." As to Can-con, here's irony for Znaimer, who accused KVOS of providing "not a shred" of Canadian content KVOS does buy Canadian programs, not for patriotic reasons but because it wants to attract Vancouver viewers. At the moment, it runs about 4V2 hours a week of shows bought from CITY-TV. Stick around for the credits, and youll see, "Executive producer: Moses Znaimer." l-Jun-08 118556 7581 40070 1-Jun-10 115009 1-Mar-11 110850 7 707 0 077 7.741 40086 15-Mar-14 122 993 7916 0147 gust sales of 1,097 units, a slight drop from July sales but nearly 20 per cent below sales recorded in August 1995. "Market conditions look positive as 1-Jim-21 119870 7906 0 167 101000 7908 0tS0 800 900 700 112 024 7930 0166 l-Jun-23 l-Jun-25 l-Jun-01 l-Oec-21 Cmhc 0102 BC 800 23-Aug-05 103428 7468 -0027 BC 8.50 23-AU0-13 105.060 7951 0 180 BC 600 6-Sep-23 98 955 8 096 0 200 CM.

Fill 7.75 l-Dec-05 101492 7.520 -0027 Hydro Que 925 2-0ec-96 100975 4.979 0000 Hydro Qua 10.88 25-JuHJI 116095 6930 -0120 Hydro Que 7 00 1Jutv04 96555 7594 -0 080 Hydro Que 850 15-Aug-OS 104 755 7.752 -0 030 Hydro Out 1100 15-Aug-20 126 175 8 436 0 200 Manitoba 7.75 14-Sep-00 104 291 6519 -0 074 Manitoba 7.75 S-Jun-06 101 476 7.531 -0 028 Manitoba 775 22-Dsc-25 96 345 6 076 0199 New Brum 7 00 17-Mai-9B 102 650 5 174 -0 034 New Brims 8.38 26-Aug-02 106923 6938 -0081 NewBruns 850 28-Jun-13 104 681 7 966 0 127 Nswtound 1013 22-NOV-14 117330 6265 0304 Nova Scotia 960 30-Jan-22 114.346 8 242 0.217 Ontario Hyd 725 31-Mar 98 103 031 5 205 -0 035 Ontario Hyd 1000 19-Mar-01 112 641 6719 -0 089 Ontario Hyd 900 24-Jun-02 109640 6948 -0082 Ontario Hyd 7 75 101 552 7 510 0 039 Ontario Hyd 825 22hin-26 100832 6173 0 206 Ontario 900 15-Sep-04 109 606 7 391 0017 Ontario 750 19-Jan-06 99785 7530 -0027 OnOno 8.00 2-Jun-26 98057 8173 0201 PEI 9 75 30-ADT-02 112 374 7 052 -0 082 PEI 850 27-00-15 102964 8186 0283 Quebec 800 30-Mar-98 104 065 5257 -0060 Quebec 1025 7-Apt-98 107475 5265 -0050 Quebec 1025 15-00-01 113850 6976 -0 100 Quebec 938 16-0an-23 109525 6465 0150 Saskatch 988 6-W-99 109832 6039 -0068 Saskatch 750 1-0ec-05 99850 7520 0039 Saskatch (75 30-May-2S 106225 8182 0200 Toronto-met 775 l-Dec-05 101227 7.560 0.006 COftPOfUTE Agt Limited 950 24-Aug-04 111819 7501 -0057 AgtLirnrM 680 22-Sep-25 105 281 8315 0 102 AvcoFNl 675 15-Mat-OO 106 839 6 545 -0 085 BUI Canada 8 80 17-Aug-05 107291 7658 -0029 Bell Canada 9 70 15-Oec-32 115345 8347 0115 Be Tel 965 t-Apt-22 114156 8305 0105 01 Mom 815 103089 7689C 0075 BankOTNS 890 20-Jim-25 106340 8315 0102 Centra Gas 885 1-Ser05 106 772 7 788 -0 029 CknpB. 865 22-Aug45 106 675 7 608 -0 029 CdnUtH 643 Hun-OS 105936 7489 -0047 CdnUtll 940 l-May-23 112828 8206 0106 Harm Cd 810 21-Feb-06 99430 8187 -0026 mterprvPtp 820 15-Ftb-24 96987 8293 0095 MoiBnw 8 20 11-Mar-03 104132 7369 4020 NScotPw 975 2-Aug-19 113012 B454 0098 NoviGai 830 15-Jut-03 104 697 7 411 4021 Pan Pen 875 Wov-05 107 557 7589 -0029 Power Fin 765 5-Jan-06 100034 7642 -0026 Royal Bank 1050 l-Mar-02 115683 7007 -0109 Sean Can 7 80 1-Mar-01 100 920 7554 4 095 Talisman 980 22 -Dec -04 112689 7 696 4 048 Thorn Corp 795 15-No45 101 103 7777 4026 TrmcdaP. 945 20-Mar-16 110 227 6 413 0 095 Union Gas 865 10-Nov-25 102640 8404 0099 WstcoastEns 8 50 23-No-15 101.015 8391 0085 101.173 6703 92425 4.769 we head into fall," said Fraser Valley board president Ann Thompson. "Inventory levels are high and after about 15 drops in interest rates in as 0000 -0067 -0 075 fi Return 4.25 Alberta 800 Alberta 625 AlberU 750 BC 900 6321 6591 PROVINCIAL 1-Mar-OO 105 180 l-Mar-01 98693 l-Dec-05 100509 Man-02 109556 7420 -O027 6830 -0077 many months, mortgage rates are ex cellent" HHSTER OF VOUH OMH DOHRIH. The Vancouver board said there were more than 18,100 active listings on the MLS at the end of last month, a five-per cent increase in the past year.

BruoeConstantineau Advertising can save shopping time CANADIAN ADVERTISING FOUNDATION i rACttfi.iI.r BUSINESS ANSVaWSI, RTUNjnE IES Be master of your domain on the Internet with MilBank. Get your very own, completely private, password protected e-mail that can follow you wherever you go, all for just $4.95 U.S. a year with an initial setup charge of SI 9.95 U.S. First, pick from MilBank's 9,000 plus registered domain names, including our vast seledion of Family Names and 26 other cool categories. Then add your own alios your first name or whatever else you want.

If your chosen e-mail address is still available you've just created on easy-lo-remember e-mail address that's uniquely you. It's that easy! 1 rc1'1471 1 UfUV UfatlT 9 Emily Reid, Q.C. Emily Reid, Q.C, has been elected president of the B.C. Branch of the Canadian Bar Association. Ms.

Reid, a Senior Counsel with the Criminal Section of the Vancouver Regional Office of the federal Department of Justice, is the first public servant to serve as president of the B.C. Branch. Her one-year term begins immediately. Ms. Reid also currently serves as a Bencher with the Law Society of British Columbia.

More than 8,000 lawyers and members of the judiciary are members of the B.C. Branch of the C.B.A. Nationwide, there are over 34.000 members of the C.B.A. In addition to being a professional resource for its members, the C.B.A. also works to improve access to justice for all Canadians and assists the federal and provincial governments through legislation and law reform programs.

twm mm YOU CAM FOR LEASE 31,977 SQ. FT. WAREHOUSE SPACE FULLY RACKED WITH SPRINKLERS -30 FT. CLEAR 8 DOCK LEVEL DOORS WITH LEVELERS I GRADE LEVEL DOOR $5.50 PER SQ. FT.

TRIPLE NET AVAILABLE IMMEDIATELY CALL RON EMERSON: 688-2776 FMERSON Ratal! Elata Group Notice of Dividends Oo August 28, 1996, tbe Board of Directors of BCE Inc. declared the following quarterly dividends: payable on October 15, 1996, lo bo Idem of record at the clote of business on September 13, 1996: dividend No. 54 of sixty-eight cents (68) per Common Share. payable on October 15, 1996, lo borders of record at tbe close of business on September 13, 1996: dividend No. 5 of forty cents (40) pel $1.60 Cumulative Redeemable First Preferred Share, ScrieaP.

Josef J.Fridman Senior Vice-Prcudenl, Law and Corporate Secretary BCE Inc. Visit our Web Site at http:MailBank.com or register by fax at 604-687-761 7 Get your very own custom mail oddress today before someone else gets the same idea. Eft)" MAACO AUTO PANTING BODYWORKS. 1 euto pointing fronchiM in North Amsrico, with ovar 450 Canfcari in North America, hoi bn pulling people 'm buaicwu (or 25 vor. VMa hov choice locationa ovoilabU for immediate ownership in the following areas: VANCOUVER SUS3Y BURNABY COQUTTLAM IANGLEY VICTORIA You con be In buiirmu in 90 doyil tf you ore taoreitod in gating into your own bmineta and ore ogareuive and motivated, we're looking for you.

No outomohve experience neceuory. We ore offering a complete turnkey package to guolihed oppkonU. DON'T DELAY CALL TODAY TOR MORE INFORMATION. 1800-387-6780 Fronchit Dwiopmnf Dvd. m-jaW jet iw wi mtnmrwqrw tmnrj Cfwwrey TO ADVERTISE IN THIS DIRECTORY CALL SHELLEY NELSON AT 732-2444 OR FAX 732-2704.