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LATE COMEBACK Ivan Nikolishin scored his second game-winning goal in three nights to lift the Red Deer Rebels over Seattle
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Red Deer Advocate WEDNESDAY, NOV. 4, 2015
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No ‘magic Yuletide tradition could wand’ to fix still use your help economy: Notley BY THE CANADIAN PRESS EDMONTON — Alberta Premier Rachel Notley is accusing the opposition of being naive and ratcheting up the fear meter over job losses in the lagging economy. “It would be lovely to wave a magic wand and create 40,000 jobs out of nowhere,” Notley told the house Tuesday, tracing imaginary circles in the air with her finger. “God knows that group of folks never did it,” she added, referring to the Progressive Conservatives, who promised for years while in government to wean the economy off its over-reliance on oil and gas revenues. “To suggest that somehow we can deal with the drop in the price of oil overnight and replace each and every job is ridiculous.” ‘IT WOULD BE LOVEOpposition parties have been hammering LY TO WAVE A MAGIC away at the NDP in the WAND AND CREATE house for days over its proposed budget and its 40,000 JOBS OUT plans to shepherd AlberOF NOWHERE. GOD ta through the trough of low oil prices that have KNOWS THAT (THE carved billions of dollars PROGRESSIVE CONout of Alberta’s bottom line. SERVATIVES) NEVER The NDP budget, along with initiatives al- DID IT. TO SUGGEST ready taken, hikes tax- THAT SOMEHOW WE es for corporations and well-to-do individuals. It CAN DEAL WITH THE plans a massive construcDROP IN THE PRICE tion boom to take advanOF OIL OVERNIGHT tage of low interest rates and a labour surplus and AND REPLACE EACH will work to diversify the economy through job creAND EVERY JOB IS ation incentive programs. RIDICULOUS.’ The downside is four years of massive deficits — RACHEL NOTLEY and a $47 billion debt by PREMIER the year 2020. There have already been thousands of layoffs in the oil sector, and Wildrose Leader Brian Jean has said the budget will make a bad situation much worse. On Tuesday, he said comments from the government suggest a review on oil royalties has already determined that those rates will go up. “We can’t tax our main industry into oblivion and expect positive results for Albertans,” Jean said to Notley. “Why isn’t the premier worried that a drastic hike in royalty rates will kill Alberta’s oil and gas sector and as a result kill the quality of life of Alberta families?” Jean went further. “It’s the same story every morning across every corner of Alberta: investors are fleeing, businesses are closing and Albertans are losing their jobs.” Notley fired back. “What doesn’t help the health of the economy is groundless fear-mongering,” she replied.
Please see NOTLEY on Page A2
Photo by ASHLI BARRETT/Advocate staff
Bonnie Herchak, one of the volunteer tree decorators for the Festival of Trees, peeks around Sparkling Winter Wishes — just one of the many trees that will be on display during the 22nd annual event — while decorating on Tuesday afternoon. BY SUSAN ZIELINSKI ADVOCATE STAFF Central Albertans sure hold tight to their favourite yuletide traditions that support Red Deer Regional Hospital Centre. All 800 tickets to Mistletoe Magic, the father and daughter dinner and dance at Festival of Trees 2015, sold out within about seven minutes when they went on sale in early October. “Mistletoe Magic sold out as fast as ever,” said Alaine Martin, project officer with Red Deer Regional Health Foundation, on Tuesday. She said fathers and daughters of all ages attend the popular event held at the annual hospital fundraiser that will run Nov. 25 to 29 at Stockmen’s Pavilion and Prairie Pavilion at Westerner Park. It’s not uncommon for limousines to pull up filled with a few fathers and their daughters dressed up for the special evening, she said. “Everybody is on the dance floor most of the night. The tables are empty. The energy is unbelievable.” One day there may also be a mother and son event at Festival of Trees. “We’re really hopeful we’ve come up with a cou-
ple ideas to make it fly. I can’t make any promises about when that will be, but we’re working on it for sure,” Martin said. Other sold out events are Festival of Wines, which has expanded to accommodate 650 people, and Breakfast with Santa. A Taste of Red Deer is back for its second year with tasty samples from 21 restaurants on Nov. 26. The event is open to anyone who attends the festival. They just need to buy tickets on site for food or drinks. She said many people probably don’t realize that all the beverages, appetizers, entrées and desserts that restaurants bring are donated to the festival so the money people pay to eat and drink goes directly to Festival of Trees. Tickets are still available for Festival Business Lunch on Nov. 26 featuring Running Room CEO John Stanton. This year the fashion show at ‘Tis the Season Luncheon on Nov. 28 was replaced with a presentation by Cheeky Couture owner Michele Bilsborrow who will talk about current fashion trends and how to dress for your body type. Luncheon tickets are still available.
Please see FESTIVAL OF TREES on Page A2
Wealth management firm to pay fine over Red Deer branch BY SUSAN ZIELINSKI ADVOCATE STAFF Assante Capital Management Ltd. has agreed to pay a fine of $400,000 and cover costs to the Investment Industry Regulatory Organization of Canada. The wealth management firm’s Red Deer branch was operated by a man convicted of killing a former client with a bomb. The settlement came after an Oct. 13 hearing before an IIROC panel. At issue was the firm’s failure to meet supervisory obligations of its Red Deer branch. The investigation covered the period between January 2007 and May 2012. During that time Brian Andrew Malley was a registered investment representative, and Christine Marie Malley was the
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branch manager of Red Deer Assante Capital Management. In the settlement there were several issues raised with how the Red Deer branch was run. Including a three-year lapse of audits from June 2007 to November 2010, high monthly commissions and failing to supervise a potential conflict of interest, as Brian and Christine are married. Brian and Christine were also subject to a separate BRIAN MALLEY hearing, but they did not attend and have not contested or admitted the allegations.
The hearing was conducted on June 25, 2014 in absentia. Brian was fined $300,000 as well as costs to the IIROC totaling $35,000. Christine was fined $250,000 as well as costs valued at $15,000. At the June 2014 hearing, it was concluded that most clients between 2005 and 2012 suffered substantial losses in their accounts ranging from 23 to 54 per cent. “The panel found that Christine Malley as her husband’s supervisor approved client accounts with inappropriate investment and risk parameters; failed to take the necessary actions to prevent him from engaging in highly aggressive trade strategies; and failed to undertake any meaningful supervision with respect to the activities in his clients’ accounts.”
Please see MALLEY on Page A2
Clark releases book about landmark case A former Mountie has written a book about her case that made it possible for Canadians to sue for sexual harassment. Story on PAGE C1
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