The Northern View, March 21, 2012

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◆ School board discusses budget for the coming year...

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◆ A&W confirms plans for Prince Rupert location...

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◆ Slubowski named playoff MVP in CCHA tournament... PAGE 23 WEDNESDAY, MARCH 21, 2012 Proudly serving the North Coast - The eNVy of the North www.thenorthernview.com 250-624-8088 VOL. 7 NO. 12

Feature Property 3301 9TH AVE WEST AV

NEW LISTIN G

CURLING CHAMPIONS…

For Sale: Fo

$

24,500

The Cardinal Rule in Real Estate is - Location! Location! Location! This 3 brm home that is located immediately adjacent to the Patullo Park Soccer field and in the Prince Rupert Middle School neighborhood is in an excellent location. However, this property is in need of very extensive repairs and maintenance both inside and out. Get your sharp pencil, paper and tape measurer together, then call Gordon @ (250) 624-9298 for the details regarding this property and for your appointment today!

Gordon Kobza Broker/Owner

Office and Cell: (250) 624-9298 Email: info@gordonkobza.com • www.gordonkobza.com Suite 6 - 342 3rd Ave W. Prince Rupert, BC V8J 1L5

Need help with your taxes? Alan S. Hale photo

The team Copeland rink were the winners of the ‘A’ Division at the 61st annual Prince Rupert Bonspiel, which took place last weekend. For a complete list of winners, see page 23.

◆ CORPORATE ASSET REVIEW • Serving the Northwest area & Haida Gwaii

Feds examining sale of Ridley Terminals

• Personal & Corporate Tax Returns

By Shaun Thomas

• Bookkeeping & Data Processing

Ridley Terminals could be back on the market according to president and chief operating officer George Dorsey, who was speaking at a Platts Coal Properties and Investment Conference in Fort Lauderdale, Florida on March 16 “The government understands the facility is, politically, becoming difficult,” Dorsey told those gathered at the conference. “There’s a variety of interests in Canada. But the value of the terminal has gone up rather substantially, so there’s a shrinking number of potential buyers.”

• Auditing & Accounting • Estate Planning

250-627-1371 Fax 250-624-6929 Toll Free 1-800-663-3200 Email: pjohal@johalcga.ca PO Box 728, 607 - 2nd Ave West, Prince Rupert, BC V8J 3S1

The Northern View

• Skills Connect for Immigrants • Job Wave • OHS Training

• Self Employment BeneÀts • Mature Workers Program Centre • North Coast Immigrant Resource ent lopm Deve s Skill ed • CertiÀ and many others!

& TRAINING CENTRE D LET US HELP YOU SUCCEE

00-808-3988 Call us 250-624-9498 or 1-8

Dorsey said the terminal has $120 million of cash in the bank, and during a speech at the Vancouver Board of Trade on March 15 board chair Bud Smith outlined just how much the value of the terminal had changed since previous attempts to sell it. “Today Ridley’s enterprise value is not the $5 million it was to be sold for in 2005, but rather a projected $750 million at the 2012 year-end, and approaching $1.5 billion when our current expansion completes by 2015. At year-end 2012 that plus-$200 million accumulated deficit [at the end of 2006] will be gone, to be replaced by retained earnings...Our projected net profit for the year ending December 2011, under new accounting rules, will be above

$100 million,” he said. “By any measure, that is an extraordinary financial success story for taxpayers...Ridley has achieved that turnaround by requiring its users to pay full market price for service; provide minimum guaranteed throughput; and by preferring long term contracts to spot arrangements.” Talk of the sale also comes following an “asset review” conducted by the Government of Canada over a year ago that looks at whether or not crown corporations still perform a useful function, are still relevant to their original purpose and that they are wise use of taxpayer dollars. See Ridley, page 2

The Career Resource Centre & •Resume Writing •Funding Applications

The Edge Youth Employment Centre•Internet Access •Job Search Assistance •Interview Preparation •Career Decision Making

•Employment Councelling

ployment” 627-5627 624-5845 “Your Path to Em

PRINCE RUPERT’S EMPLOYMENT CONNECTIONS


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