Alberta loses 155 million on Al Pac loan write off
Iberians face 155 million in losses on a government loan to Alberta Pacific Forest Industries with no upside return if profits rise. Liberal treasury Gene Zwozdesky notes the deal lacks future profit sharing unlike other Ontario deals. Treasurer Stockwell Day says immediate gains outweighed potential upside. Alberta sold the Al Pac loan for 260 million to Mitubishi and Oji Paper, writing off 155 million in accrued interest. Al Pac owed 415 million in principal and interest when the deal closed.
MENTIONED IN THIS ARTICLE
Edmonton
Alberta-Pacific Forest Industries
Gene Zwozdesky
Al-Pac
Lloydminster
Swan Hills
Stockwell Day
Alberta
Mitsubishi Corp
Teen Girls Sentenced in Virk Attack Case
Two of three teenage girls received six months in jail plus three months for an August assault, while a fourth teen got 60 days home supervision. The girls pled guilty to assault causing bodily harm in the Reena Virk case, with two other youths facing murder charges.
MENTIONED IN THIS ARTICLE
Crown
James Williams
Virk
Alan Filmer
Hat Trade Mission to China Delays Fertilizer Plant Project
Medicine Hat mayor says the Lianyi Industries urea fertilizer plant in Daqing was delayed indefinitely due to the economic crisis and Asian market uncertainty. The venture, costing 150 to 300 million, remains possible but not guaranteed. the city plus a five member trade team pursued leads and signed exchanges with Acheng for future investment opportunities. The mission cost about $20,000 to taxpayers.
MENTIONED IN THIS ARTICLE
Medicine Hat
Ted Grimm
Qian Dihua
Daqing
China
Lianyi Industries
Grimm
State Planning Commission
Lianyi
Ald
John Hamill
Bob Nicolay
Tim Fedunin
Siew Mak
Hong Kong
Acheng
Zheng Xianghao
College to Raise Tuition 12 Percent for 1998-99 Budget
The college approved a balanced 22 million 1998-99 budget after a 2.4 million revenue shortfall. Tuition will climb to 12 percent, lifting revenue to about 5.26 million and keeping student costs among the province’s lowest.
MENTIONED IN THIS ARTICLE
Medicine Hat
Ralph Weeks
Alberta Opportunity
David Jones
Jones
Eagleson Leaves Jail to Work at Toronto Firm
Alan Eagleson, former hockey czar, walked out of Mimico jail Tuesday on conditional temporary absence to take an office manager job at DEMA Industries in east Toronto. He has served over four months of an 18 month fraud sentence and may now work by day, returning to jail nights with weekend home leaves possible. His license was renewed and drives to work will be self‑provisioned.
MENTIONED IN THIS ARTICLE
Canadian Press
Southam
Toronto
Alan Eagleson
Eagleson
Dema Industries
Eastend
Rene Vogrin
Vogrin
Mimico Correctional Centre
Paper Clip Projectile Lands Student in Legal Heat
Richmond Indiana AP reports Clint Jackson aged 17 faces up to a year in jail for firing a rubber band propelled paper clip at a cafeteria worker. The May 1 incident at Richmond-Burton High School left the employee with minor chest bleeding. Jackson was jailed briefly after arrest.
MENTIONED IN THIS ARTICLE
Richmond
Clint Jackson
Jackson
Richmond-Burton High School
Suharto regime faces major Jakarta anti government protest
Indonesia prepares for its largest demonstration against President Suharto as students and opposition leaders press for immediate resignation and radical reforms. The planned "people power" event in Jakarta and other cities risks bloodshed after threats by the armed forces. In Surabaya a student protest met with army violence injuring 60.
MENTIONED IN THIS ARTICLE
Philippines
Jakarta
Surabaya
Also Mentioned on This Page
Southam Newspapers
Peter Mah Brant Sivertsen
Cody Millington
Cody Wells
Strathcona Island
Reena Virk
Helen Downey
Nature
Sol Broad
Wuar
Ann Landers
Canada
Mike Berezowsky
Suharto
People Power
Alex Spil
US Southam Newspapers
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!