: NEWS phalo Try Paters PICKETS APPEARED outside Canadian Occidental Petrofeum Ltd. (COPL) in North Vancouver early Tharsday moratng as members of Energy & Chemical Workers Local 601 staged Job action to press for res- olution of a first-contract agreement. Representatives of the 11 first-line supervisors have been attempting to negotiate a coniract with the company since August 1987. Union spokesman Jukka Sokkanen said Thursday that hours of work. and wages were the two major stumbling blocks to reaching an agreement. Orest _| Sackney,.COPL vice-president of manufacturing, said the union and the company would mec! again today. Both sides declined ts’give further details pending the outcome of the meeting. The picket line was scheduled | to come down at 6 p.m. Thursday. Sokkanen said the job action posed no danger from a halt in supervision ' 3 + Friday, April 15, 1988 ~ North Shore News VERSATILE To GET $16. 4ivi |Union says new contract won 't save NV shipyard WEDNESDAY’S ANNOUNCED $16.4 million federal government..contract for Versatile Pacific Shipyards Inc. will do littl in the Jong term to salvage the company’s ‘North Vancouver shipbuilding operation, say repre- sentatives: of Versatile'’s unionized workers. ! : According] to the annoucement, which was’ made by Fisheries and Oceans. Minister Tom Siddon, ’ “Versatile. will .buiid a 168- foo’! GH. 25 metre) ‘coastal hydrographic survey ship| for Fisheries. and Oceans Canada. ‘Versatile won the contract swith tHe lowest of six bids. Fifteen By TIMOTHY RENSHAW News Reporter they believe is the impending shut- down of shipbuilding at the yard. One of 10 Versatile employees organizing the demonstration, Briere echoed concerns outlined in’ of hazardous chemical production at Canadian Occidental because the picket tine was set up during plant . : | : maintenance. “Victoria blamed for Principal G roup| fiasco CTHE: PROVINCIAL £ gov- . “ernment is” guilty: of cor “ plicity, in the collapse. of the Principal empire - and Should be. held* ccountable, ’ says the presi--” ““dent . ofthe “association ‘of, investors -who lost their life? sé vings.in the: fiasco. By KAREN GRAM Contributing Writer ‘Art: Charbonneau; told about 150 : tentive “victims of the collapse at a: meeting ° Satirday: of, the. Prin- ‘cipal Investors Protection ‘Associa- * tion of B.C. (PIPA) that ‘the B.C. government . should ” compensate vestors for their, Tosses because it Téenewed | the’ business , licences. of : fold-when’.they invested’ that ‘their ‘taoney: was.. completely - protected: by. the - Investment: Contract- Act. hich “should ‘have: been Zmonitor-" ing’ Principal Group and nforcing - regulations. But by: allowing. FIC and ‘AIC to continue’. business in ,March ‘and : “April. 1987, despite: being $48 mi lion'in debt, the Social Credit gov- niment ignored. its. ' regulations aintain'a "$200, 000° ‘security. bond , be granted a licerice’ renewal,” and o' ‘government. set. the ground fo that. déefraudment,’ ” " said Char. So that. the Principal Investors Pro- *.. 5 tection. “Association © will government irresponsibilty under... ““Vander'Zalm’who makes a religion: “of people beinig responsible,’ Charbonnéau . a Hé- ‘said » Principal "Group ‘in- vestors | were ‘not the unsophisicated.: said. * £ Group © financial .. [ae PRINCIPAL INVESTORS": association iT president ‘companies from> across Canada had” been invited 10 bid for the work, > The: Ié-ménth contract . will create an estimated 48 jobs at the company’s North Vancouver yard and a further 65 jobs in associated industries. will operate out of Newfoundland. The completed vessel’ a March 18 News’story chronicling - MWBIU' estimates thai virtually all Polar 8/construction work will be done. in _Versatile’s Victoria yard, . leaving! only 10 to 15. per. cent for North Vancouver tradesmen, But final award of the contract ° is subjest to ratification of a new.’ contract: between Versatile: and its 21 unions. ~-The company’s last offer was re- ‘jected 96 per cent ina: January union vote. Contract: ‘negotiations have been underway ever since, but co no resolution has been reached. WEWS photo Tom Burley Art Charbonneau “speaks to local: investors. al 7 fecent: meeting’ at. Lonsdale Elernentary group. the. goveriiment “projects © 10: be. snak ‘oil salesinen_ ‘out: there,’ but we believed in‘ the “regulating and The ‘guarantee to me was the: In+ stment Contract Act: and that i is: : : fand . ‘that if they. don't ° around they will’ see that day ‘as a Sec bonineau “said . Principal’ Group president. Donald’ Cormie * robbed -his investors: by. transfer- ring” their; money - up ‘through: his empire and: out ‘to Swiss bank ‘ac- - “counts ; and,‘ dumping. : ‘bad mor-. tgages back’ on investors. “Pwenty: three”: non-performing Miortages ‘were transferred into FIC holdings’ at book ‘value, according j' in that “one, transaction,’’ he said!’ ; As.. well, many; “other real restate ‘We: knew there arc. Is Be report “is. not expected until i . : hat may take five to seven years." However, he’hastened to add that the! group will hire legal counsel i in Ma ay: and will take legal action af. , necessary. i! T hope we fever sce that day, i but the government has.to-unders-: come “sure as night follows day."’ 7 B.C. ombudsman Stephen Owen investigating | ‘government. Te: :Sponsibility on "pehalf of PIPA. December 1988, ’ Ken. Wark, an. investor who sits fn a..committee’ overseeing. the assets, told the audience that, in., addition: to the 30 per cent refund: most’ investors. have received, his = committee is trying to return’ a fur ther.’five’ to eight cents on ‘the holding3:warth only 60 per cent of - ‘dollar: 'But- the chief" justice: ap-' at the higher price. n inquiry. underway i in ‘Ednion- ; on,’ headed ®: ‘by ‘court inspector William Code? récently, revealed that ‘Cormie: paid” his” daughter. $288,000 in’: two“years to research © “and “ his. wife © received $275, 000 to attend! dances and’ par>. ‘in’. the. year: preceeding ‘bankruptcy, “His ere ie Charbonnéau ‘told the audience ‘weather _pursue_ compensation. -politically rather: ° ‘than legally “because they hope it _ will bring quicker results. 3 oot We've got, too many 70 to 80: ly year" Olds 410, ‘launch Jegala action , “their: book value. were transferred £ ‘pointed to the committee refuses to ly “consider the plan. until “the ; Code Inquiry. report is’ filed. : Wark said ‘financial ‘trustee. Co.’ opers and.:Lybrand is gradually “selling the:real'estate holdings; and cis negotiating with a conglomerate! to.buy tax losses. His’ committee! ‘has a plan to'return 10 to 12 cents|, n “on the dollar to investors over a three-year period, but that too. is ; “on hold pending the Code report. | Wark’ said it would take $22.5 million of Principal’ Group’ asséts “to return five cents to ‘each FIG;i jin: ~ Nestor. ote PIPA held four ¢ meetings ardunid the Lower Mainland, last weefend. Versatile’s. vice-president — of marketing Quintin Watt said Wednesday’ s contract ‘twill enable us (3. maintain, our technical staff “and “keep out key trades people: together’ until construction on tne: + [! A: $350 million, 656-foot Polar Class © 2-8 icebreaker begins in mid-1989. But” Masine - Workers’ Boilermakers.‘ lidustrial“U ion | (MWBIU) . president patrick said the 48: jobs’created by the fisheries contract” won’ t.éven -makea dent in the (union’s) ‘unemployment lists: ft will. besa pinprick..A’ Shipyard that size, will ‘gobble up, the werk in no time.” Sixty percent of the MWBIU, which’ is: Versatile’s biggest union, is currently unemployed, with 750 and. ‘of the union’s I, 250 members out: * of work. .There are curreatly. MWBIU, alone’ normally. has: ap- “ proximately: employed at Versatile. . Shop steward Bob Briere said all. mee Versatile ..North “Vancouver unions :-will stage -a tally-at noon . today to. draw attention to what itt ‘| distribution of. Principal Group |; af Classified ‘Ads... Doug Collins. . | Editorial. Page... 6 rs 600 member’, : “| development... | Fitzpatrick has. said/ the pro 08 120) i ; ed sale or -lease, of ‘Versatile’ land -! tradesmen working at’;'the ‘com-"1 pany’s North Vancouver ‘yard. The’ ; i MWBIU: president patrick. -(contract)’ won't make a dent inemployment lists."" wy tven: A fence,” which Briere called ithe new Berlin Wall'', has also been constructed in North “Van- couver’s Versatile yard to separate its: working, sector. from. its westernmost office buildings; which are now empty and awaiting ‘commercial -or signals:the end of the yard’s ship- ' building operation: ‘both its yards for ‘the Polar 8 con-- ‘struction. The company, he'said, is § | 'still committed to sharing the work « John: Fitz in. the “(unlon’ ‘sy fesidential : ily But Watt said Versatile will need i between the two yards on the 50:50... - /basis: that; has - been promised: l “Home & Garden: ...29°- ; Horoscopes Mailbox ...... Ww Listings: . . What's: Going On. Friday, mainly. ‘sunny: “High. - near 18°C. Saturday, mostly” i oloudy, possibility of showers. + Second Class Registration Number 3885, : tf