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This newspaper page contains 6 articles. Subscribers can read the full text of each article.
Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Jun 18, 1982
Page
6
A Toronto company Travelsave, which resells surplus wholesale travel reservations to members at discount prices, files a 4.5 million breach of contract suit against CP Air. The case centers on alleged monopoly tactics and contract violations as Travelsave seeks redress.
Creditors heard that Sunflight Vacations Ltd and Skylark Holidays Ltd may have no funds to cover about $14 million in unsecured debts. Liabilities of nearly $21 million and assets around $5 million were cited as the two Caltrav Corp subsidiaries moved toward bankruptcy. The Travelsave dispute with CP Air over distribution and memberships was outlined with claims of lost revenue and a $3.5 million damages target.
The note explains common market acronyms CBT CME and WPG used in futures quotes. It clarifies that months shown are contract months and prices are quoted in cents unless marked in dollars.
Canadian CAE Industries president Douglas Reekie attacked Ottawa's export aid for Bombardier's 821 subway cars sale to New York. He argued predatory financing distorts fair competition, noting EDC support at 9.7 percent for 15 years and calling out inconsistent rates for Canadian exporters.
A dense OCR of stock quotations shows numerous company names and price figures in cents, with changes from prior close. The readable items include names such as Adams Aero Alaska All Star and Gidmrk alongside bid and ask values, highs and lows, and scattered negative changes.
The 1982 Ontario budget suspends corporate tax on income eligible for the federal small business deduction for two years ending after May 13 1984. Taxpayers may shift income to Ontario to lower overall tax and may claim refunds for excess instalments with careful calculation and formal letter requests to the Ontario Ministry of Revenue.
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