Have you received a lot of mail from the banks and the credit card companies recently? Today’s mail was from Citi Financial and they want to loan me $15,000. I haven’t dealt with them since I had my U.S. credit card with them many years ago. Which I guess proves that you are never free of their email mailing list. If you get approved you can have your money by noon, or so the letter says. Get Acceptance Corp wants to give me a first or second mortgage and I haven’t needed one of those for thirty years. It looks like I can get approval on the phone. MBA sent me some more cheques. Isn’t that taking a chance by sending cheques in the mail that can be used? I noticed the other day even the Credit Union credit card is sending out cheques with a promotional deal. American Express has a no fee card with Air Miles. I’m sure American Express is a good card but I find so many businesses that won’t accept the card for payment. When I was a young businessman I was so thrilled to get my gold American Express card. It really meant something to me back then.

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Stats Canada says Canadians are not cutting back on their driving. At least not so far with these high gasoline prices. Before the stats office issued this press report you could tell that there weren’t any big changes here. The roads are still crowded and those trucks that take $100 fill-ups are still being driven and that isn’t going to change. While south of the border sales of petrol are down five per cent. Looking back at the numbers. Canadian driving and commuting habits have been slow to change since 2002 and that is partly because the owners of the vehicles are making more money. Our parking lots continue to be full.

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Tom Gaglardi, the entrepreneur who heads up the groups that bought the Blazer’s junior hockey team this past year has reached an agreement with the powers that be in Kamloops to build a new hotel in the city. A 4.5 star property under his new Signature Sandman flag. The $25 million, 150 room hotel conference centre will be across from Riverside Park and the Interior Savings Centre.

Signature is the new upscale brand of the hotel and I don’t know whether that is being flagged for the new Kelowna property that is currently under construction.

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In 1994, three partners Christine Magee, Steven Gunn and Gordon Lownds launched the first four Sleep Country locations in Vancouver. Christine was a banker by profession and didn’t realize until she needed a loan to start the business how difficult bankers could be with new business ideas.

They have now been offered $356 million by two private equity firms to takeover Canada’s largest mattress retailer.

When Christine Magee’s Sleep Country Canada made their move into the Interior they made no mistake in letting the consumers know they were here to do business. There are now five stores in the Interior - Kamloops, Vernon, Kelowna, Westbank and Penticton. The warehouse for the region is in Kelowna. There are now 133 Sleep Country Canada stores and 46 Sleep America stores in Arizona.

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The Bargain Shop has made a deal for 99 closed SAAN stores. The Bargain Shop chain will now have 270 stores in Canada. The downtown store in Kelowna was a Kresge’s when we got here. At one time I can remember the owner of the building, a Montreal businessman, was looking at making some changes to that building to capture some of the tourist dollars that come into the valley. I was vice president of the Chamber at the time. His plans called for an entertainment centre featuring an Imax Theatre.

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The former Newnes management employees have formed a new company in Salmon Arm and are back in the business they know so well. Microtec Industries of North America is a joint venture between this two hundred years of experience that lives in Salmon Arm and a couple of companies who bid on buying the troubled COE, Newnes/McGehee. The Salmon Arm company will be introducing European forest industry equipment to the North American Marketplace.
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Canadians Impressed with China’s Organization of Summer Games

Only 16% think Olympics will lead to an improvement in the country’s democratic situation.

KEY FINDINGS:

54% are interested in the Beijing Olympic Games.

64% say the organization of the games in China has been good.

63% say their image of China has remained the same.

64% do not expect games to change the political situation in the country.
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Wal-Mart Supercentre is scheduled for opening September 16 in The Hub North on the Westside. You’ll be surprised at this building. It is quite a difference from the Wal-Mart designs you are used to. It is a big store at 176,000 square feet. The fourth supercentre for B.C. is being built in Campbell River. I am still knocked out by that South Surrey store which is well planned and huge.