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SPREAD Sheet Wait see at Dominion Bridge The future for125 Oakville employees at Dominion Bridge will be in limbo until the firm‘s new owners take charge. The centuryâ€"old firm, which manufactures nonâ€"residential conâ€" struction materials, was a money loser in 1993 and its former owner, United Dominion, feels it made a good move selling the Canadian operation to Manson Group, a group of Montreal investors. But at present it is not known whether there will be staff layâ€" offs or other cost cutting measures, said Robert Shaffer, spokesman, United Dominion headquarters, North Carolina. "The new management is getting in place now and won‘t be on line until sometime this month," said Shaffer. " They haven‘t developed a strategic plan at this time so I don‘t know what they are planning to do if anything to the Oakville operation. That would be up to them." Dominion Bridge has helped erect many famous Canadian [ landmarks. The Oakville branch is most noted for supplying the Skydome with its retractable roof. Other Canadian branches are located in Winnipeg, Calgary, Regina, Richmond, B.C. and Lachine, Que. Under terms of the deal, United Dominion will retain a 15 per cent share of Dominion Bridge, said Shaffer. ‘"The new Dominion Bridge will be debt free, it will have an adequate capital structure under new managementand it will have a construction bonding mechanism, necessary in bidding for jobs. We feel it as a positive move all around," said Shaffer. College pres. at Canadian Club Mary Hofstetter, president of Sheridan College will be the keynote speaker at the Jan. 27th Oakville Canadian Club meeting. Hofstetter will speak on the role of comâ€" munity colleges in economic development and the cfiallenges of trying to increase education excellence while reducing educaâ€" tion costs. The meeting will be held at the Howard Johnson Hotel on Argus Road. A cash bar at 6:15 p.m. precedes the 7:00 p.m. dinner. =,.Cost is $18 for members and $22 for nonâ€" members. Fees include GST. Cheques should be made payable to: The Canadian Club of Oakville, c/o 307 Robinson St., Box 52148, Oakville Ontario L6J TN5. Phone 845â€"2862. MARY HOFSTETTER BUSINESS Low prices promised at No Frills By KATHY YANCHUS Oakville Beaver Staff hen Oakville‘s No Frills store opens Sunday, there will be no balâ€" loons, jugglers or clowns to greet the customers. There will, however, be a new concept in shopping for Oakville residents and some hefty cost savâ€" ings. Even though it is a wholesale food outlet, there is a full retail system, says Garrie Vaughan, who coâ€"owns the National Groceries franchise on Cross Avenue with his son Chris and their respective wives, Elaine and Kim. Retail customers can take advantage of the volume discount price savings available to wholeâ€" salers such as convenience store and restaurant owners, day care and light industry operators(Wholesalers are welâ€" come to fill out their application and tax exempt form now). There are two sizes of grocery carts available and retailers are invited to haul the large red wholeâ€" saler carts around the store if they wish and shop in the designated wholesale area; the only difference comes in the check out areas â€" wholesalers have their own. Aside from a major Club Pack section, the store will feature a huge fresh produce area, fresh meat department, bakery and guarâ€" anteed lowest prices on these speâ€" cific items: milk, bread, butter, sugar, eggs, bananas, lettuce, tomatoes and potatoes. "Chris and I will be checking our major competitors at least three times a week (to ensure No Frills offers the lowest prices on Save an extra * 400 in taxes on your WEDNESDAY, JANUARY 26, 1994 Garrie and Chris Vaughan: No Frills store ready to open Sunday. these items)," says Garrie. No Frills will also feature national brands as well as the President‘s Choice line of prodâ€" ucts. Physically, the store itself has come a long way from its Savâ€"aâ€" Centre days. The perimeters have been opened up for more floor space. The store is bright, spacious and clean and now resembles a warehouse with wide aisles and shelves stacked sky high with goods. When shopping at No Frills, no free bags are provided. You can purchase bags, use the boxes supâ€" plied or bring your own bags. There are also no fancy fixtures, no games or gimmicks. These are all policies within the No Frills concept and the customer is the beneficiary because the money saved is turned into lower prices, says Garrie, who has been in the ~RRSP contribution this year Investment Objective Working Ventures‘ objective is to produce the superior returns hile mutual funds are generally designed to reward investors in the long run, there‘s an investment fund that gives you an food and franchise business for 28 years. From a personal standpoint, the Vaughans were thrilled at the idea of an Oakville franchise because they have always resided in small communities â€" the family‘s first grocery store was located in Prescott and Garrie now lives in Port Perry although he plans to move to Oakville as Chris has. Even though Oakville‘s population has exploded over the 100,000 mark, "it still has that small town flavor," says Garrie. "We have always prided ourâ€" selves on being communityâ€"mindâ€" ed, good corporate citizens," he adds. Once in full operation, No Frills will employ more than 100 people, including some former Savâ€"aâ€" Centre workers. All Vaughans have been putting in long hours, working with the marketing and display personnel, hiring and training staff and ensurâ€" ing that all is set to go come grand opening day, which is Sunday at Page 8 10 a.m. One of the advantages of a familyâ€"run business is having a family member in contact with the public at all times, suggests Garrie. No Frills hours will be Monday and Tuesday, 10 a.m. to 7 p.m; retail and 8 a.m. to 7 p.m. for wholesale customers; Wednesday; Thursday and Friday, 10 a.m. to 9 p.m. and 8 a.m. to 9 p.m. respecâ€" tively; Saturday, 8 a.m. to 6 p.m. both and Sunday, 10 a.m. to 5 p.m. both. The reason behind the Vaughan‘s choice of opening days even has a ‘family‘ flavor to it. Because it is a bedroom communiâ€" ty, the owners hoped the weekend opening would give the entire family the opportunity to experiâ€" ence the concept together. "But we didn‘t realize it was Super Bowl Sunday," laughs Garrie. Not to worry. It‘s a great place to stock up on pop and snacks before your party begins. Halton Board of Education Presents: Their Draft Student Disciplinary Pelicy (Implementation date: September 1994) January 31, 7:30 p.m.; Q.E. Park School 2301 Yolanda Dr., Oakville February 7, 7:30 p.m.; River Oaks School 2173 Munn‘s Ave., Oakville February 9, 7:30 p.m.; Abbey Lane School immediate tax advantage. f Working Ventures Canadian Fund gives ; you a 40% headstart over just about every other ‘fund in Canada. The Power Of Working Ventures ian Fund Now, you can take advantage of a unique investment fund â€" Working Ventures Canadian Fund â€" that could permit you to reduce this year‘s taxes by $4,500! That‘s 40%* more than the tax benefit of just about every other RRSP in Canada. You receive $2,000 in tax credits* by investing $5,000 in Working Ventures Canadian Fund. The fact that Working Ventures shares are also eligible for an RRSP means further tax breaks. For instance, if you are in a 50% marginal tax bracket, a $5,000 contribution to an RRSP would reduce your taxes by a further $2,500, for a total of $4,500 ($2,000 + $2,500) in tax savings*. _ Your investment will primarily be reinvested in promising, growthâ€" onented small and medium size businesses in your province. Experience That Counts Key to the performance of the fund is the expertise of its management team headed by Ron Begg, President. His track record of success combines senior corporate management disciplines with the handsâ€"on companyâ€"building skills of a successful entrepreneur. This well the investment and finance background of Jim Hall, Viceâ€"President Investments. Jim has solid professional credentials from public accounting and merchant banking, and a record of originating and managing successful investments. Jim offers a prudent, disciplined and seasoned approach to the development of a strong, diversified investment portfolio. Discover How Working Ventures Can Work For You traditionally associated with investment in dynamic and growing businesses, while minimizing risk through prudent development and management of the fund. Here‘s an example: Private equity investing involves certain risks Investment in Working Ventures _ $5,000 that are not encountered with many other Tax Savings investments. Although Working Ventures provides deduction you with a tax credit to help offset those risks, it (at 50% assumed tax rate) cannot guarantee that its investments will eamn a 31 specified rate of return, or any return, in the short Federal Tax Credit (20%) =$1,000 or long term. In addition, a private equity Provincial Tax Credit* investment involves a longer term commitment. (20% where applicable) â€" $1,000 P Eced : T« Participation in Working Ventures Your Net Cost $500 should be considered as a long term investment. $4,500 However, you may redeem (cash in) your Working Ventures shares subject to certain conditions. If you redeem your shares within 5 years of purchase, you will be required to return your tax credits to the federal and provincial governments (some exceptions apply). Working Ventures may restrict total redemptions to 20% of total assets of the fund in any one year. A fee of 3/4 of 1% of redemption value will be charged for each year shares are held short of 8 years. Poised For Growth Due to the current economic environment, Working Ventures is in an ideal situation, prepared to take advantage of investments in underâ€" valued businesses and positioned to profit as the economy turns around. Your Total Tax Savings and experience And, while a majority of the fund‘s assets will be invested in enterprising businesses to maximize return potential, risk is tempered by investing a portion of assets in shortâ€"term, high quality government securities. complements Important information about this investment fund is contained in its prospectus. Obtain a copy from a securities dealer duly qualified and licensed to distribute these securities and read it carefully before investing. Share value and investment return will fluctuate. *The extra provincial tax credits are available to investors resident in Ontario, Prince Edward Island and New Brunswick First published October 1993 For more information, please call: ANDY BLANCHARD FINANCIAL CONCEPT SECURITIES 22 Lakeshore Rd. West Oakville, Ontario Tel: (905) 338â€"8600 Open weekdays until évp.m. Sat. 9â€"5, Sun. 1â€"4 WORKING VENTURES CANADIAN FUND INC. +. 1160 Old Abbey Lane, Oakville THURSDAY, JAN. 27th. BÂ¥ singo 2:00 P.M. Centre of the M# Seniors‘ Discounts= All Day Long 125 Cross Ave. (Across from GO Station) You can take the Community Bus to Trafalgar Village. For information call: 844-"088 1