The artwork of Grace Sevy. SEE PAGE 819 Tech Talk The home cinema. SEE PAGE A 18 S.S.I. HISTORICAL ARCHIVES 129 MCPHILLIPS AVE. SALT SPRING ISLAND BC V8K 2T6 C-Comp PAGESB1·B9 Wednesday, October 15,2008- YOUR COMMUNITY NEWSPAPER SINCE 1960 48TH YEAR- ISSUE 42 $1 ~~sn ECONOMY LOCAL ELECTIONS Locals throw hats into the ring Islanders prepare for "the next one" BY SEAN MCINTYRE DRifTWOOD STAff With the dust barely settled on the federal election, politicians with a local leaning are gearing up for a campaign all their OW{l. The candidate nomination deadline for Capital Regional District (CRD) director, Islands Trust representatives and School District No. 64 trustees closed Friday at 4 p.m. In contention for the title of Salt Spring CRD director are incumbent Gary Holman and challenger Garth Hendren. · ELECTION co ntinuedon A4 Results PHOTO BY AMY GEDDES Futures trader Eli ot Kaplan monitors ma rket activity fro m his north-end home on Friday - the day the loonie plunged to its lowest level in four years. online This week's Driftwood went to press two hours before fed­ eral election polls closed on Tuesday, but Saanich-Gulf Islander grapples with credit crisis Islands results are on our web­ site at www.gulfislandsdrift­ Salt Spring's Eliot Kaplan rolls with economic punches is for sale. The economic boom that made buying wood.com. property with American dollars on Salt Spring a A tough fight got ugly on BY AMY GEDDES Kaplan is one of a number of futures traders lucrative move will not be revived anytime soon. Monday night as a number of DRifT WOOD STAff on Salt Spring. He has traded electronically on He says: "It feels like time to simplify." people throughout the riding In front of his living room window overlooking the Chicago Mercantile Exchange (CME) and Like many Americans who purchased prop­ reported receiving recorded Stuart Channel, futures trader Eliot Kaplan, 55, Chicago Board ofTrade (CBOT) for over 10 years. erties on Salt Spring, the Massachusetts native messages purportedly from paces back and forth, verbally dissecting the cur­ His father, who passed away in 1978, a modest crossed the border from Santa Barbara, Califor­ the fax number of NDP riding rent credit crisis. The man has the kind of eye­ businessman and old school investor, only saw nia in 2005 to take advantage of the then rela­ association president Bill Gra­ brows that form abrupt peaks, resembling the the markets on a roller coaster ride like this once tively strong U.S. dollar, along with a quieter, less ham, urging them to vote for lightning bolt-shaped charts that surge across -in 1929. stressful Salt Spring lifestyle Julian West, the NDP candidate his six computer screens. "These are exciting times. But it can also be "The Canadian currency, which has strength­ who dropped out of the race on It 1s Friday afternoon and the loonie plunges frightening," Kaplan says. ened over the ensuing years versus the U.S. Sept. 23. West's name was still to its lowest point in four years and then swings The U.S. government's $700-billion rescue has dollar, has dropped precipitously over the last on the ballot. back up again in the final30 minutes of trading. done little to assuage fears of what the impend­ week," he said. Salt Spring NDP member "There is no knowing how this will all turn ing recession might bring, or the unimaginable "A worldwide recession may at least temporar­ Irene Wright confirmed the out," he says of the crisis that has spurred "panic other possibility, a financial system collapse. ily reduce demand for raw materials and Can­ calls were not from the NDP selling" and put traders around the world on the His oceanview home, a stunning Japanese­ ada, like Australia and New Zealand, to name office and a police investiga­ edge of their seats. style West Coast contemporary he helped design, CREDIT CRISIS continued on A2 tion was launched. THe INSERTS INDEX Horoscope . H • A25 LooaL ' l.ni.<DY SrfiW LOCALLY oMlLOcALLY <lPrAA*D • Tiuifty Foods Arts... H. HO . 811 Letters.... .H HH H .. A9 1t- • Ganges Phannasave H.. A21 H.......................... HA19 • Country Grocer Classifieds ... Sports . ..... • Home Hardware Editorial . H . HH H AS Sudoku . H .. A26 • Mark's Work Wearhouse Ferry Schedules ............ A19 TV listings . H • 815 • Bosley's • Rona Health ............................ 820 What's On ..... ..................... 810 • Sears - . email: [email protected] website: www.gulfislandsdriftwood.com IN GASOUNE ALLEY 2f16.531.WIN£(94631 9AM ·11 PM,7DAYSNJK MAY14'"TOSEPT. 8'",2008 Direct Ganges to Downtown . ?.= 3.?. ~~ . ~.?.~~!~~ . ~.?.=~. ~".1 .M..~.".~~~. ~. 1.~= .3.o. ~~.~.4.:1 .o. P.~.O.~i~~H . Direct Ganges to Van airport 7:40am Mon-Sat, 10:30 am &4:10pm Daily ································································· ········································ Direct Van airport to Ganges 8:45am Mon-Sat, 11:35 am &5:15pm Daily Direct Downtown to Ganges 8:30amMon·Sat, 11:20am&5:00pm A2 I WEDNESDAY, OCTOBER 15,2008 I GULF ISLANDS DRIFTWOOD CALL GAIL, SEAN OR AMY IF YOU NEWSBEAT SEE NEWS HAPPENING - 250-537-9933 Introducing PFAFF® expression™ line * Extra large sewing space 250 mm (1 0") * 9 mm stitch width * Built-in "lOT" (walking foot) * Ideal for Quilters and Home Dec . .....___ from $1399 WHAT'S ON THIS WEEK PAGEBlO PHOTO BY DERRICK LUNDY TURTLE TALE: Bianca Altieri, a vet from Brazil, repairs the shell of a western painted turtle with a Pepsi can and epoxy. The turtle was run over on Salt Spring and brought to the Island Wildlife Natural Care Centre. In touch with pulse of world economy CREDIT CRISIS also be experienced by those who had moves in history," he said over the continued from A1 invested in the markets but didn't go to phone. "The Dow cash index moved cash when warning bells began ringing up over 900 points today." a few, has a commoditized currency, over a year ago. Despite an incredibly strong market meaning it is closely tied to the value of In recent weeks, Kaplan has traded a rebound that day and confidence rising the raw materials it produces." bit more attentively. in the market again - at least tempo­ A trader, he explains, must be adapt­ "Because of the extreme volatility, I rarily - he said, "It doesn't change the Ready able. But selling his home could take even stand aside at certain times," he overall market environment. Seems time. says. like short covering, a bear market relief For Fall? "The houses selling on Salt Spring But when asked if the crisis has rally. But we'll see." are the ones smartly priced," he said. changed his affection for his profes­ Unfortunately, many will suf­ Leaf Blowers. "I don't see the real estate market col­ sion, he says, "No, I love what I do .. fer financial losses because of the lapsing, but also not strengthening . It's the most challenging career I've crisis, but Kaplan hopes measures Starting at much either." ever had. At times it's exacerbating and will be put in place to minimize the When asked what effect the cred­ difficult, but at other times it's equally impact. $!)!J95 it crisis could have on the Canadian gratifying. And even at a great distance, But the crisis also breeds opportuni­ • economy, he cites a few possibilities. I feel vitally in touch with the pulse ties. A deepening recession in the U.S. will of the world economy, markets and In 1929, John D. Rockefeller, among have undesirable effects on all of its events." others, took advantage of the crash. trading partners worldwide. On Monday, the market was expe­ Today it's Warren Buffett. Imported goods will cost more, with riencing an upswing and Kaplan had So the adage goes, "When there's expensive oil also a contributing fac­ found easier sailing. blood on the [Wall) street, cash is tor. Inevitable personal losses will "Some of the biggest single day king." DEREK HARKEMA, M.S.W. Registered social Worker has opened a private practice downtown Ganges. While my primary focus is working with families dealing Pacific Standard Time - measured in feet ..ponsored by H•rbours End M•rlne & Equipment Ltd. with Attention Deficit Disorder as well as advocating on TIME HEIGHT TIME HEIGHT their behalf, I also treat adolescent and t~dults suffering OCT m It m It 15 06:44 3.1 10.2 19 02:23 0.3 1.0 from depression. Prior to moving back to SOit Spring WE 11:33 2.2 7.2 su 11:03 3.4 11.2 Island, I was certified as a School Social Worker and 17:04 3.2 10.5 15:44 3.0 9.8 Divorce Mediator in Illinois, coauthored a book titled ADD 16 00:04 0.5 1.6 19:05 3.1 10.2 TH 07:45 3.2 10.5 10 l, as well as received certification to the Academy of 12:18 2.5 8.2 20 03:20 0.4 1.3 Certified Social Workers in the United States. 17:28 3.3 10.8 MO 12:06 3.4 11.2 17:52 2.9 9.5 17 00:45 0.3 1.0 19:50 2.9 9.5 FR 08:49 3.3 10.8 13:09 2.7 8.9 21 04:21 0.6 2.0 17:56 3.3 10.8 For further information TU 13:02 3.4 11.2 18 19:34 2.6 8.5 regarding my practice SA 21:10 2.7 8.9 call me at 250.537.9734 + Se~ lllfiAI"LAittlfiB More daily fligh~ home from ~e m~n OUr Islands, Our World.