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A8 M t UAK V ILLt BfcAVbK weanesoay June 10, iyyy Business To reach this section call 845-3824 Fax:337-5567 Wendy's Groundbreaking for the new headquarters of W endy's Restaurants o f Canada Inc. will take place tomorrow morning in Oakville. The site, located at 240 Wyecroft Rd. will occupy 2.87 acres and will accommodate 173 parking spaces. The building totals 38,525 sq. ft., comprising a two-storey home office with a Wendy's restaurant and training facility integrated into the northeast corner of the building. A Wendy's restaurant will be open to the public and includes a large outdoor patio and landscaped area suitable for park benches and seat­ ing areas in the summer months. Inside, the office space compris­ es approximately 17,000 sq. ft. on the first floor housing the Accounting, Finance, IT and Training Departments. The IT Department will house separately climate controlled computer and printing rooms. The Training Department will include a 1,500 sq. ft. training room. On the second floor, com prising approximately 18,000 sq. ft., the Development, Operations, Purchasing, Marketing and Human Resources Departments are located. The office will employ nearly 100 staff and 50 restaurant staff. "We're very excited about our move to the Town of Oakville," said Brion Grube, senior vice-president of Wendy's Canada. "Oakville will open the door for further expansion in this area starting with our 300th Wendy's in Canada." There are currently three Wendy's restaurants in the Town of Oakville, 275 Canada-wide with plans to build 45 this year, and 5,400 worldwide. Wendy's Old Fashioned Hamburgers Restaurants was founded in 1969 by Dave Thomas, who named the chain after one of his daughters. breaks ground on new HQ '% Successful Investing with Patrick McKeough T IP O F T H E W E E K : "The 5% bonus can pay off, but no-loads pay off more.' The 5 % m u tu a l fund bonus Some brokers have begun offering a 3% to 5% bonus to mutual fund buyers in the form of extra fund units. To understand this bonus and decide if it's right for you, you need to review mutual fund commission options. • Front-end load or commission. A fee you pay to your broker to buy a mutual fund. Front-end loads used to range as high as 8%! A typical front-end load is now 2.5%, and many brokers sell funds for a zero front-end load. Front-end load investors can sell without paying any fee. • Back-end load (also called a deferred sales commission). You pay no commission to buy. Instead, the fund company pays your broker a fee of around 5%. If you sell within some stated period, usually 5-7 years, you pay an exit fee or redemption charge. This fee starts at 6% to 7%, and falls gradually to zero. • Trailer. A payment from the fund company to your broker. On front-end load investments, the trailer is usually 1% a year. A back-end load trailer is usually 0.5%. • Management expense ratio. This 2% to 3% payment comes out of fund assets. It covers expenses, fund company profits, trailers and back-end commission payments. How the bonus started In January, a small mutual-fund broker, The Fund Company, offered to rebate half its 5% commission, in additional fund units, to investors who bought funds on a back-end load. Banks and trust companies quickly copied the plan. The back-end load is an extremely rich payoff to a broker compared to commissions on other forms of investment. Many small no- fee fund brokers, plus Internet broker E-Trade Canada, are now willing to rebate the entire 5% to back-end fund buyers. ► The bonus is attractive if the fund you want offers a back-end load and if you plan to hold the fund until the exit fee comes down to zero. But you may earn higher long­ term returns if you buy no-load funds that don't charge sales commissions and don't pay trailer fees, since they usually have lower management expense ratios. © 1999 A rtPress International Patrick McKeoU' newsletter, G R A P H IC S S Y N D IC A T E 2 8 /3 IcKeough is author of Riding The Bull and editor of The Successful Investor, a monthly investment it. For further information, call 1-800-579-4246 or visit http://www.thesuccessfulinvestor.com Lennox buys Abbey Air System Lennox Inc., the Canadian retail operation of air conditioning and heating systems manufacturer Lennox Industries Inc., has bought Abbey A ir System of Oakville. Details of the deal were not available. The purchase of the local firm, along with seven oth­ ers across Canada, represents $10 million in sales revue and expands Lennox's domestic retail operation to 46 companies with $190 million in total sales. The move is part of plan by Lennox to create a national distribution network offering full retail sales and service functions. "The Lennox name has been associated with excel­ lence in products and service throughout Canada for over 50 years," said Mike Preston, general manager of Abbey Air System. "We're proud to join the Lennox family." "We are excited about our operation's continued suc­ cess in working with all Lennox dealers-acquired, asso­ ciate and independent," said John Bergsma, pres, of Lennox Inc. "Lennox is proving a strategy encompass­ ing all business models can thrive in today's market­ place and give consumers the best in home comfort." The Board of Directors and Staff of HALTON FAMILY SERVICES ate pleased to INVITE YOU TO ATTEND OUR 45TH ANNUAL M EETING Tuesday, June 22, 1999 at 7:30pm at Oakville Public Library 120 Navy St., Oakville Guest Speaker Dr. Derrick Tapper "O ur Culture, O ur Families, O ur Regrets!" B arto lin i, Berlingieri & Barrafato Barristers & Solicitors HAVE A D D ED A N E W BURLINGTON LO C A TIO N TO BETTER SERVE YOUR WORKERS COMPENSATION & DISABILITY M ANAGEM ENT CONCERNS. We Specialize In: • Claims Management • D enied Claims • Unsatisfactory Handling o f Claims • Q uestions/lnquiries • Appeals Please contact our WCB Consultant Dennis Blunt at: 632-8123 for an appoinment 3600 Billings Court, Suite 210 Burlington L7N 3N6 Ford CEO named corporate vp Ford Motor Co. o f Canada Ltd., president and CEO Bobbie Gaunt has become a corporate vice-president with the parent firm in Detroit. It marks the first time in 70 years that the top executive of the Canadian unit has been named to such a post. The first was Edsel Ford in 1927. Gaunt, 52, will retain her position with the Canadian operation. The Pittsburgh native became the first woman to head the company when she was appointed two years ago. 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