HomeMy WebLinkAboutThe Times Advocate, 2007-12-12, Page 1TIMES ADVOCATE
Exeter, Ontario, Canada Wednesday, December 12, 2007 $1.25 (includes GST)
ued HURON TRACTOR
EXETER
519-235-1115
WHAT'S
INSIDE
Thankful
"Simpsons" writer
impressed with Exeter
welcome
PAGE 3
World
perspectives
Filmmaker speaks at
SHDHS
PAGE 16
INDEX
Editorial 4
Sports 18
Announcements 22
Classifieds 25
TIMES ADVOCATE
424 MAIN ST.
Box 850
EXETER, ONTARIO
NOM 156
TEL: 519-235-1331
FAX: 519-235-0766
WWW.SOUTHHURON.COM
EXETER HAWKS
vs MT. BRYDGES
SAT., DEC. 15
8:30 P.M. SH REC CENTRE
No recession,
says economist
By Pat Bolen
TIMES -ADVOCATE STAFF
EXETER — "Don't bet on a weak U.S dol-
lar," RBC Stratford investment advisor
Dominik Franken said at the 2008 winter
meeting of the Huron Perth Ag Service Dec.
5 at the Masonic Hall in Exeter.
Franken said a weak picture of the global
and American economies has been painted
by the media since August when the sub-
prime mortgage scandal started but a
recession isn't going to happen.
What started the scandal, said Franken,
was the two trillion American dollars held
by Asian and Middle Eastern countries that
they had to find a place for. When the
money was lent back to the United States,
Franken said it created higher rates until
markets around the world discovered
"garbage had been packaged...there was no
market for it."
While the effects are still rippling through
the world markets, Franken said it is still a
financial and not an economic scandal.
World economies are still strong, he said,
and are being driven by the Asian
economies, which are trying to slow them-
selves down but haven't been able to yet.
"We're not going into a recession," said
Franken. "We will slow down."
To predict what will happen in Canada,
Franken said to look at the situation in the
United States where an election is coming
and government spending is still high.
While he said normally trade is a negative
factor in the American economy, the lower
dollar is helping the U.S. trade deficit which
will strengthen its economy.
According to Franken the most important
factor in the American economy is the con-
sumer question which he said is in good
shape because earlier in the century con-
sumers locked in lower mortgage rates and
eliminated credit card debt. Consumers
have half a year's salary in the bank and
they have reason to be positive, said
Franken.
The unemployment rate is also low in the
United States, he explained, with a rate of
4.8 percent, which he noted is almost full
employment, compared to 10 per cent in
Germany.
Despite media reports of the housing mar-
ket collapsing in the U.S., Franken said
prices are overinflated and noted "people
with a housekeeper salary have a $700,000
house. They deserve to be foreclosed on....it
needs to be cleaned up."
See WORLD page 2
/ HIGH SPEED INTERNET
www.hay.nel
SERVING EXETER
& SURROUNDING AREAS
For as low as $19.95/mo.
519-236-4333
Letters to Santa — Children at the Tinker Tots Nursery School in Hensall took a wall< to
the Hensall Post Office last Wednesday, where they mailed their letters to Santa.
Postmaster Linda Ferguson also gave the children a tour of the post office and showed
them how the mail is sorted. Getting ready to mail their letters are Chase McGregor, left,
Sam VanBakel and Kinsley Richardson. (photo/Scott Nixon)
Lucan Biddulph focuses on museum
LUCAN BIDDULPH — With the tender
deadline for the new Heritage Association
(HA) museum coming up Dec. 17, Lucan
Biddulph council held a delegation Dec. 3,
focusing on final preparations.
Museum project manager Dave Goddard
summarized all costs for the project after the
tenders were opened.
Goddard says some costs could decrease
with a couple renovation changes.
Some changes included duplicating the
lower verandah facade but coming down
seven feet and eliminating the upstairs
verandah, as well as eliminating the track
lighting on the interior, sodding, using brick
instead of stone for the corners, removing
the extra layer of insulation, using letters for
signage and more.
With all of changes the cost was adjusted to
a $473,000 project.
Council is also planning to discuss the
Spriet consulting fees. The contractor is also
recommending taking off bonding allowance,
dropping the cost to $6,000, but there could
be issues if the contractor defaults.
The project is affordable but needs Lucan
Biddulph township's approval to move for-
ward, according to Goddard, because the HA
does not have the funds to pay for a final bill
or GST.
Lucan Biddulph clerk -administrator Ron
Reymer is looking into at what point in time
the township can claim the GST. The HA has
a GST number and can apply for rebates, but
they will have to determine who will claim
GST and carry the cost of the GST until the
rebate is available.
The Spriet invoice was sent in and it was
determined the project is over the proposed
See LUCAN page 2
EXETE
CHRYSLER
"Your neighbourhood Chrysler Dealer"
519-235-1525
EVERY CARD'S A WINNER!
SERVICE
Convenient Affordable.
We're better,
We'II prove it.
FIVE STAR
136 Main St. N., Exeter 00000
Prepare your vehicle for the
demands of harsh winter
driving with one of our Fall
Service Specials and you'll
receive a "Drive In and Win"
contest card.*
Scratch the box and
instantly win a prize.
• Mopar Windshield
Washer Fluid 4L
• Mopar Glass Cleaner
• Mopar Car Care Kits
• Digital Tire Gauge
• 10% off Service Discount
HEAR US ON fegJtoe,,, IMPS a -e -
Peace -of -Mind Maintenance Package
- Up to 5 litres of 5X30 Mopar° Oil
- Mopar Oil Filter
- Lube (where applicable)
- Top -up washer fluid
- Rotation of 4 tires
- Peace -of -Mind Inspection
- Provide written report on findings
Mopar Fuel Injector Service
- Cleans deposits from
injectors, intake valves and
combustion chambers to
restore fuel delivery efficiency
and reduce fuel consumption.
Environmental handling charge will apply
Get 4th Tire
FREE!
Available on tires from:
• BF Goodrich • Uniroyal
*Ask about the safety benefits ofwinter bres. •Michelin • General Tire
}}Must be dealer installed and excludes fire sires • Good Year • Continental
18 Inches and over Installation and balancing alta
VIEW ALL OUR INVENTORY AT: www.exeterchrysler.com