COMMUNITY: Topley 4-H Club at BV Exhibition
FEATURE: Archeological excavating Babine River Fishing Village
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Canfor increasing offshore shipments By A. MacDonald Black Press
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FUN in the Sun Heading back to school after a sunny summer are Hannah, Nelson, Jacob and Julia.
Cullen discusses economic challenges By Jackie Lieuwen Houston Today
Nathan Cullen talked with Houston business owners about the Northwest economy and what the government can do to encourage entrepreneurship in the community. The lunch in Houston with Cullen and local Chamber of Commerce on Aug. 27,
was for Cullen to hear local concerns and answer questions. The discussion centered around challenges and solutions for Northwest and Houston entrepreneurship and investment. Cullen suggested that one the barriers is the mentality that young people often graduate high school with, going into the
mills thinking it’s what their dad did, and what they’ll do and what their kids will do. Salvation Army supervisor Rick Apperson agreed. There’s a lack of motivation, said Apperson, we need more incentives for young people to want to start up their own businesses. Others suggested
that there is more behind it than that. Entrepreneurship is not seen as an option, said Tony Mondia, the Business and Loans Analyst from Nadina Community Futures. “We used to do self employment as a career option at the career days in the highschool,” added Jerry Botti, Community Futures manager, but
it dwindled away because of lack of interest. So there are cultural things that government can’t really play a role in, said Cullen, but what can the government do? John Sullivan from Sullivan Motor Products said that the government can give tax write offs for See CULLEN on Page 2
Canfor’s lumber shipments are up 16 per cent in their second quarter. The company also reported operating income of $26 million for the second quarter of 2012, compared to an operating loss of $21.5 million for the first quarter. The positive variance primarily reflected improved results in the lumber segment, where stronger markets supported higher prices. Canfor reported net income attributable to shareholders of $4.5 million, or $0.03 per share, for the second quarter of 2012, compared to a shareholder net loss of $16.2 million, or $0.11 per share, for the first quarter of 2012 and shareholder net income of $2.1 million, or $0.01 per share, for the second quarter of 2011. For the six months ending June 30, 2012, the shareholder net loss was $11.7 million, or $0.08 per share, compared to net income of $9.1 million, or $0.06 per share, for the first half of 2011. The shareholder net income for the second quarter of 2012 included various items affecting comparability with prior periods, which had an overall net negative impact of $6.6 million, or $0.05 per share. After adjusting for such
items, the company’s adjusted shareholder net income for the second quarter of 2012 was $11.1 million, or $0.08 per share, up $33.4 million, or $0.24 per share, from an adjusted shareholder net loss of $22.3 million, or $0.16 per share, for the first quarter of 2012. Adjusted shareholder net income for the second quarter of 2011 was $2.6 million, or $0.02 per share. Stronger demand is being attributed to market improvements in both North American and offshore markets. Additionally U.S. housing starts are on an upward trend averaging 739,000 units seasonally adjusted annual rate (SAAR) up more than three per cent from the previous quarter. Canadian housing starts were also up, increasing 12 per cent from the previous quarter, to almost 230,000 units SAAR. In China, markets improved as inventories returned to more normal levels following the inventory build early in the previous quarter. Japanese demand remained solid through the quarter. Pulp markets were relatively balanced heading into the quarter but saw signs of weakness as the quarter progressed. The company announced as a result of improved conditions See CANFOR on Page 2