PIZZA HUT & KFC
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Miss Muggins Coffee and Fresh Donuts
Vol. 12, Issue 13, November 24, 2007
Sultan Road not a Provincial priority Chapleau to continue the fight T by Jim Prince ravellers using the Sultan industrial road as a short cut to Sudbury have noticed a m a r k e d improvement in that gravel stretch over the last year, however they shouldn't hold out hopes for a step up to provincial highway standards including pavement in the foreseeable future. A letter from an Assistant Deputy Minister in The N o r t h e r n Development and Mines Ministry to the To w n s h i p h a s effectively put off any improvements to the
Long Term Forecast Saturday High -3 Low -8 Sunday High -1 Low -13 Monday High 1 Low -7 Tuesday High 2 Low -3 Wednesday High -2 Low -4 Thursday High -5 Low -5
80 kilometre stretch of road, long considered vital to the well being of Chapleau. While some are using the road in its current condition, Chapleau leaders have been pressing to have it upgraded to provincial highway standards. It's an appeal which is supported by a majority of local politicians, and a wide range of other potential users of an
improved link from across Northern Ontario. Cal McDonald, the Assistant Deputy Minister of Northern Development in the Ministry of Northern Development and Mines says current provincial resources are required to deal with the ongoing expansion and upgrading of the existing highways system. In the latest
Northern Ontario Highway Strategy, the Sultan Road was noted as one of several potential new highway links identified by northern stakeholders as a priority. However, McDonald's letter to Chapeau Mayor Earle J. Freeborn also pointed out that the need for new highway links will continue to be assessed. M a y o r Freeborn has every intention of keeping
the Sultan road in the spotlight. “I'm not happy at this refusal of our request to make the Sultan Road a part of the provincial highway system,” stated the Mayor. “We'll be talking to the new minister regarding our concerns about safety and economic development.” In his letter, McDonald said since 2002, the Ministry of
Northern Development and Mines (MNDM) has contributed $605,000 for improvements to the Sultan industrial Road. MNDM and the M i n i s t r y o f Transportation will continue to work with DOMTAR to make capital improvements to the road in addition to cost sharing the annual maintenance costs with the company.
Tembec makes $22-million in the quarter
C
onsolidated sales for the fourth quarter ended September 29, 2007 were $675 million, down from $781 million in the comparable period last year. The Company generated net earnings of $22 million or $0.25 per share compared to a net loss of $52 million or $0.62 per share in the corresponding quarter ended September 30, 2006, and a net loss of $164 million or $1.91 per share in the previous q u a r t e r. E a r n i n g s before unusual items, interest, income taxes, depreciation, amortization and other nonoperating expenses (EBITDA) was $23 million, as compared
to EBITDA of $26 million a year ago and up from EBITDA of $4 million in the prior quarter. The September 2007 quarterly financial results include an after-tax gain of $71 million or $0.83 per share relating to the gain on translation of foreign debt. After adjusting for this item and certain other items, the Company would have generated a net loss of $51 million or $0.60 per share. This compares to a net loss of $43 million or $0.51 per share in the corresponding quarter ended September 30, 2006 and a net loss of $76 million or $0.88 per share in the previous
quarter. The impact of specific items on the Company's financial performance is discussed further in the Management Discussion and Analysis (MD&A) of its financial results. For the fiscal year ended September 29, 2007, sales were $2.8 billion as compared to $3.0 billion in the prior year. The Company
generated a net loss of $49 million or $0.58 per share compared to a net loss of $292 million or $3.41 per share in fiscal 2006. EBITDA increased to $65 million from $42 million a year ago. The fiscal 2007 annual financial results include an after-tax gain of $124 million or $1.45 per share on the translation of its US $ deno-minated debt and
an after-tax gain of $185 million or $2.16 per share related to the refund of lumber duties and interest thereon. After adjusting for these items and certain other items, the Company would have generated a net loss of $152 million or $1.79 per share. This compares to a net loss of $252 million or $2.94 per share in the prior year.