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Titre :
The record
Éditeurs :
  • Sherbrooke, Quebec :Townships Communications Inc,[1979]-,
  • Sherbrooke, Quebec :The Record Division, Quebecor Inc.
Contenu spécifique :
lundi 20 avril 1998
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  • Journaux
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The record, 1998-04-20, Collections de BAnQ.

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*¦>; -v ' ai£&;:4A50 39 /each OADSIDE ASSISTANCE 24 hrs/day anywhere in North America with purchase of 4 Hankook tires* fonder LIFETIME lIWutTter WARRANTY on ALL parts of exhaust system! PNEUS BELMONT INC.Exhaust & Brakes The only true life-time warranty as long as you own your car Gnies ^quette 930 Wellington St.S., Sherbrooke 563-6644 * Installation, balance, taxes extra.Limited to punctures.2 yr period.See details.Get to the heart of the matter! Next time you're feeling a little down, get out and get active.For a feeling you can really take to heart! Sharing a Healthier Future" panricipacTion Thé Record,'Monday, April 20, 1998 page 11 X^^/month 36-month lease Freight and preparation included With spring about to bud, there’s never been a more \ beautiful time for a Chevrolet Malibu.150 HP 2.4 litre Split-folding rear seat backs engine ; lijilininw 111.-*«»**"*• • 4-wheel anti-lock brakes • 4-speed automatic transmission • Dual airbags • AM/FM stereo cassette • Tilt steering wheel • Air conditioner PASSLock II™ theft-deterrent system $0 $328 $1,087 $298 $1,981 $268 CHEVROLET The Chevrolet Oldsmobile Dealers of Quebec .IÏÎMsé S I !Uk ASSISTANCE are offered on all new 1998 GM vehicles for < Dealer for all the details.Initial cashdown.Limited time retail offer applying on new 1998 vehicles in stock with the above-mentioned features.Monthly payments based on a 36-month lease.Subject to credit approval.First month's payment and $350 refundable security deposit required upon delivery.Licensing, insurance and taxes extra.Fee of 12e per kilometer after 60,000 kilometers.’Roadside Assistance and the GM T0TAL,M Warranty duration of 3 years or 60,000 km, whichever comes first.’‘^Registered Trademark of General Motors Corporation.TD licenced user of Mark.See your participating OLDSMOBILE Pag Ë~ 12" "Mo N d a Y ,* "A"pri'l'2 07 TO8" THEi ousas Slew of recent mega-bank announcements in US supports Canadian mergers Federal Liberals softening on bank mergers By Joan Bryden Southam News Ottawa The sheer volume of North American bank mergers proposed in recent weeks seems to wearing down the resistance of federal Liberals towards the idea.When the Bank of Montreal and Royal Bank proposed the first union among Canada’s big six banks in January, reaction among Liberal MPs was overwhelmingly negative.But last week’s proposed marriage of the Canadian Imperial Bank of Commerce and Toronto-Dominion Bank, coming on the heels of a spate of mergers among U.S.banks, has garnered a more equivocal response.Liberal MPs are still skeptical that mega-banks are in the best interests of consumers but their skepticism is now leavened with a sense of inevitability.“It’s going to be an interesting question at the end of the day, especially with all this American stuff coming together,” said Hamilton MP Stan Keyes.“It just makes it tougher to say no.How are our Canadian banks going to compete?.Should we not be following suit because, if we don’t, are we going to be the poor sister?” Since the Royal-Bank of Montreal merger sent shockwaves through the government caucus three months ago, several U.S.banking giants have announced plans to join forces, among them a $70-billion marriage between Citibank and Travelers Group Inc.and a $60-billion union between BankAmeri-ca and NationsBank.“I think it makes it more difficult to simply say no to it,” said Winnipeg MP John Harvard.“I think this gives the banks in our country .one more card to play.They’re saying that they have to be big and, if the mergers go forward in the United States, they’ll come back and say, ‘See, we have to bigger or we’re going to be obliterated or just sort of marginalized.’” With the Commons resuming today after a two-week Easter break, both the Reform and New Democratic parties are promising to step up the pressure on the government for a speedy response to the proposed mergers.Reform wants the mergers approved and the Canadian banking industry opened up simultaneously to foreign competition.The NDP wants the mergers nixed immediately.But the Chretien government is refusing to be rushed.Its official position on merger mania remains unchanged: No decision will be taken until the public is consulted on the recommendations of a federal financial institutions task force, which is not scheduled to report until the fall.Still, Liberal House leader Don Boudria predicted the merger activity south of the border will increase public acceptance of bank mergers in Canada.“I speculate that it’s going to be different from here on in, because of the very large mergers in the United States,” Boudria said in an interview.“I’m just speculating here but I think people are going to see the very large mergers in the United States and they’re going to see that if our banks in Canada are merging to compete with that, it’s different than if they were merging without that parallel force outside the country.In other words,it’s going to give I think a different perception.” Not all Liberals have been softened up, however, by the mergers in the U.S.Indeed, Toronto MP Tony Ianno, who has been heading a Liberal caucus task force study of the banking industry, tartly suggests Boudria doesn’t know what he’s talking about.“I guess some ministers deal best with the portfolios they have in front of them,” Ianno said pointedly.Ianno noted that there are 9,500 banks in the U.S., compared to only six big banks in Canada.A few monster mergers in the United States thus don’t create the same threat to competition as in Canada where, if the proposed mergers are allowed, two mega-banks would control 70 per cent of the country’s banking assets.“I don’t think (the merger wave in the U.S.) changes anything.I think what we have to look at is what we had to look at before, which is how are Canadians best going to be served, access to capital, (the effects on) small business, competitive pricing, rural Canada.We can go on an on.” Ianno said the argument that Canadian banks must be bigger to keep up with American mega-banks holds no water.“If size is the determining factor, then they have to join all the financial institutions (in Canada) to be even close to one of the American ones.” Liberal caucus chairman Joe Fontana agreed that mergers are still a hard sell among Liberals and Canadians as a whole, who aren’t buying the bigger is better credo.“If there are benefits, somebody better start explaining to them what the benefits are so that they can relate to them,” said the London MP.“(The banks) have got a real communications exercise to undertake to convince their customers and our constituents that a merger is positive for their lives and positive for the Canadian economy and the communities.” Winnipeg’s Harvard said he’s prepared to listen to the argument that Canadian banks need to be bigger to compete with mega-banks in the U.S.and elsewhere.But he said the banks must also satisfy his concerns that Canadian consumers and small business will be protected.If the banks can’t satisfy Canadians that mergers are “nothing more than a greedy manoeuvre on their part, then I think it’s going to fail,” He said.The debate over bank mergers, among the parties and within the Liberal caucus, could liven what promises to be an otherwise fairly dull spring sitting of Parliament.The legislative agenda is largely uncontroversial, including such things as a bill creating the new northern territory of Nunavut.Before the Commons breaks in late June for the summer, however, the government may introduce some new bills that will generate some controversy.It is expected to introduce changes to the Young Offenders Act to crack down on violent youth crime.And Health Minister Allan Rock may introduce promised amendments to the Tobacco Act to exempt Formula One auto racing from a ban on cigarette company sponsorships.subscribe to For Townships news, events & announcements, and be eligible for our monthly drawing of a Record golf shirt! 3 mo.$31.06 6 mo.$61.54 1 yr.$119.63 (taxes included) Payment by: Cheque____.Money Order ?Visa Master Card n (Credit Card Number) (Nam©) (Expiry date) ( Street) Send to: The Record, (Town) (Postal Coda) 2850 Delorme St., Sherbrooke, Qc J1K 1A1 (Tel.No.daytime) 569-9528 • 242-1188 • 1 -800-463-9525 (bain-magique®) REGLAZE your tub with our exclusive PORCELAIN fora DURABLE and BEAUTIFUL finish .% *• PORCELAIN FINISH • NO EPOXY •WONT YELLOW (819) 564-3242 The Record, Monday, April 20, 1998 page 13 m m ü m»É I FAMILY FORMAT EXTRA TOPPING.For just $199 per month, you get the works: - 4-speed automatic transmission $199 /month* g,,.;.: with overdrive - Dual airbags, passenger and driver-side - Battery rundown protection - AM/FM stereo cassette 36-month lease Freight and preparation included 3.9 % - Traction control - 4-wheel anti-lock brakes FINANCING UPON PURCHASE UP TO 48 MONTHS IT S NOT JUST A 4-DOOR.IT’S A 4-DOOR SUNFIRE.The Pontiac Buick GMC Dealers' Marketing Association of Quebec "Limited time retail offer applying on new 1998 base vehicles in stock including the above-mentioned features.Model shown is for illustration purposes only.Lease for personal use only.Monthly payments based on a 36-month lease with initial down payment (or equivalent trade-in) of $1,825.Licensing, insurance and taxes extra.Security deposit of $300 and first month's payment required upon delivery.Fee of 12e per kilometer after 60,000 km.'Roadside Assistance and the GM TOTAL™ Warranty are offered on all 1998 GM vehicles for a duration of 3 years or 60,000 km, whichever comes first."Graduate rebate 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