"Going down with the ship"

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February 25th, 2011 8:44 AM

Terry Stoker
Owner of Better Body Fitness
47 years old

I was born in Thompson and I’ve been here all my life. Vale’s announcement, with the loss of that many jobs and the spinoff jobs that come with it, will have a huge impact on me. I would expect probably a thirty percent cut in my business. And a thirty percent drop would probably be enough to close the doors.

I opened my gym on January 18, 1994. I built it right from scratch. It’s part of me. It’s something I love to do.

It’s just a scary feeling now because I’m considering selling my facility while things are good.

The gym is in the industrial area. A lot of the companies in the neighbourhood supply parts for Vale. There are tire shops, parts for underground machines, tools, electrical companies, concrete companies, contractors, and a lot of trucking outfits.

Some of the drop in my business will be from Vale employees who leave, and those who work in spinoff industries. Those clients will also take others with them, like their spouses. And those people could be some of the nurses, or the teachers that come here.

Since the gym has been open, I’ve been through strikes, layoffs, low nickel prices… It’s been quite a rough ride, but nothing of this magnitude. It’s the worst news I’ve ever heard in 17 years of being in business.

People are saying not to panic, but if you don’t panic and just sit back, then in four years you’ll say, “What happened?” and everyone will say, “The writing was on the wall.” So I’m just trying to prepare.

I’ve got a lot to lose because I’ve got my business here, my house here – everything. I would be devastated because when you’re self-employed you have to build your own pension, and if everything’s worth half or less than half what I was expecting, I’m basically going to have to start over. So I’m either thinking about selling everything and leaving, or taking the chance and staying, and maybe going down with the ship.