Page 26, May 20, 1979 - Sunday News business « careers | t’s your money by John Belanger Takeover ‘glamor’ We are frankly amazed | at the growing interest ordinary Canadians display in cor- — ' porate takeovers, which have lately sprouted like so many spring dandelions. You know about takeovers, of course?) A corporate takeover is a marriage. The courtship is conducted with fiscal fists of iron. The best man doesn’t always win. The smartest one usually does. There are two ways to conduct a takeover. One is to go the route of a ritual dance, and behave with enormous respect, dignity and deference’ opponent. The other is to drop the gloves and come out swinging, kind of like engaging in a- flatulence contest with a polecat. Takeovers are a lot of fun for the audience — but especially journalists mostly because everybody loves a good fight. And in most takeovers there are no winners or losers, merely survivors. But Canadians’ are becoming more interested in both the process and _ its to one’s . “outcome, and: that, all . by itself, could lead to changes. For example, do not. be surprised after May 22 if whoever forms the federal government suddenly adopts -a_-rather--high corporate takeovers. The genesis behind this thought is simplicity itself. It is merely that interest creates concern, and concern often leads to political action. Any politician who gets 25 letters on the same subject usuaily — reacts with alacrity. Thus, voices may be raised, and when they are, you can bet the family withers somebody will do something. It says here a government headed by P.E. Trudeau would be more concerned about takeovers, and their ~— ultimate impact on the economy, than any government headed by Joe Clark. The Conservatives traditionally care little about what happens in the cor- porate community, so long as no laws are broken. The Liberals, always suspicious, care a lot. ' That is one reason why we had a royal commission on the concentration _ of cor- porate power, as if it mat- tered: The commish unearthed the breathless intelligence that the con- centration of corporate er—profile—on ~ power is not a-bad thing, and may even be a good thing. This was: greeted with disdain by those over there on the political left, a prediction as saying tomorrow is Monday. The left has an enormous degree of suspicion about anything corporate, believing as it does that profit is somehow wrong, if not downright venal. And some corporate takeovers, but especially those in- volving huge amounts of money, merely serve to underline and nourish this point of view. Phooey, he commented, somewhat editorially. There is nothing wrong with one company taking over another, so long as nothing bad comes out of it. There should be full disclosure all down the line, and in large measure, various regulatory bodies have already seen to this. Chief among .these is the Ontario newspaper to: B.C. Hydro Ms. J. Alderdice, Personne! 555 West Hastings Street Vancouver, B.C. V6E 4T6 STATIONS EQUIPMENT ENGINEER The System Protection and Stations Planning Department has an immediate vacancy for a Stations Equipment Engineer. The position Involves conducting engineering studies related to planning, application and selection of major station electric apparatus up to 500 kV or higher. The qualified candidate will have a degree in Electrical Englneering and be eligible for registration with the Association of Professional Engineers of B.C. A requirement is a minimum of tour years of relevant experience in one or more of the following apparatus areas: power transformers and reactive equipment, surge arresters and insulation coordination, and instrument transtormers. Salary range: $2092 to $2765 per month with a com- prehensive benefits package. (Salary currently under review.) Position ls open to men and women. Apply quoting job no. EN-04 and the name of O certain as_ ; Securities ‘Commission, a gem in the province's crown. The OSC is the closest thing -we’ve got to the Securities and Exchange Commission in Washington, an outfit which has long > distinguished itself. Canada could use a similar body nationally, mostly to end provincial fractionalization of securities laws, but since securities law is a provincial jurisdiction, and constitutional types. have bigger fish to fry, do not hold your breath. ~ Or anyth hing else, for that matter. obvious it since Meantime, the ritualistic | courting of companies — some large, some small — will continue. That is so stating. But keep one beady eye peeled on the level of interest displayed. The media have now gotten into this act and, once in, they are not about to get out.” It used to be that takeovers wound up only on- pages such as this. That is no longer true. Now some takeovers have become front ‘ page fare, suitable for lining a parrot’'s cage next day. _ Such is the way of all _ More control over insurance agents? The insurance industry in B.C. should be self-regulat- ing, with greater control over insurance agents in establi- shing and enforcing good business practices, says Walter A. Siemens, the new president of the Insurance Agents Association of B.C. (IAABC). Siemens, a director and executive member of the IAABC since 1971, was elected during the associa- tion’s annual conference held May 6, 7 and 8 at the Delta . Airport Inn, Richmond. Close to 400 agents took part in the conference. Siemens says that the primary thrust of _ self- government would be to educate the insurance agent before he goes into business. The provincial government seems to favoyr compulsory membership in the IAABC, says Siemens, but the association is especially interested in seeing new agencies become members. **We won't demand across the board compulsory membership,’’ he comments, **But we would accept it if it happened.’’ Ontario recently created a_ self-regulating authority for the insurance agents in the province, he adds. At present, he _ says, relations with the Insurance Corporation of B.C. (ICBC) are ‘‘quite good’’, but the flesh, however, including newsprint. | association believes that there sould be more expert- ise represented on the ICBC board of directors. Recently the IAABC re- quested that an insurance agent be placed on _ the Insurance Corporation’s board, a recommendation that is under consideration. In continuing the past policies of the IAABC, Siemens says, it is the putpose of the 1200-member association to educate the government and the public as to the role of the insurance agent. **We are the official body representing the insurance agents in British Columbia,’’ he says. ‘‘We are a pretty democratic organization with a large number of members throughout the province holding positions of responsi- bility. Prior to assuming the duties of president, the 44 year old Siemens, who lives in Trail, ‘Served as the association's vice-president. Born in Saskatchewan, he moved 'to Trail in 1961 where he began his _ insurance career with Allstate. He now operates Curriers Insurance (4960) Ltd. in Trail. He has just completed six years as an alderman for the City of Trail. He is a member of the Trail Chamber of Commerce and the Rotary Club. Executive Secretary Assistant Minimum Two years experience land development back round an asset. Must have excellent typin and shorthand as weil as good public relations skills and Professional attitude. Salary negotiable. Send deta d resume to box 560 North Shore News. Intercommerce Building and Development Ltd. 5929 Granville Ave. Richmond V7C 1E9 Chris Eleniak 277-3892 SALES REPRESENTATIVE Leading North Shore Import Automobile Dealer requires Sales Personnel desiring above average earnings potential. Automotive sales experience desirable. Call Sales Mgr. 985-0591. hardly needs NAMED GENERAL MANAGER of Burrard Funeral Chapel, North. Vancouver is Seymour Kelly (above). Trained in England, the U.S. Montreal, he became a qualified Funeral Director of B.C. in 1975 and has e recently specialized in the pschological aspects of bereavement. Government staffs want up to 19% - Three out of four B.C. government employees would like to win wage increases of 10-19 per cent later this year, according to a union survey. It was based on questionnaires completed by 4,500 members of the 38,000-strong B.C. Government Employees Union. Nearly half the respon- dents, however, indicated that they expected actual increases to be between 8% and 10 per cent. FINANCIAL STATEMENT TYPIST Deloitte Haskins & Sells, a mojor public oc- counting firm, requires ao Financial Statement Full time ond port time positions are available. Please indicate. Salory Is commensurate with experience ond obilities. Please apply by complete resume to: Director WASKINGS & SELLS P.O, Bax 21404 TRANS MOUNTAIN PIPE LINE COMPANY LTD. Alan G. Seager At the annual Meeting of Shareholders of Trans Moun- tain Pipe Line Company Ltd. which took place in Van- couver on April 19, 19798, Mr. Alan G. Seager was elected to the Board of Oirectors suc- ceeding Mr. Donald J. Taylor who did not stand for re- election. Mr. Seager is Vice President Oll Products, Shell Canada Limited.