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Principal Group
The Principal Group was a group of interrelated Canadian financial companies that collapsed in 1987, resulting in losses to an estimated 67,000 people. Losses were in recovered in part through provincial governments paying compensation, based on findings as to deficiencies in regulatory oversight.Brian BrennanPrincipal Group Collapse: The Man Who Knew" Extracted fro''Boondoggles, Bonanzas, and Other Alberta Stories'' Fifth House Publishers, 2003, as reprinted in ''Business Edge'', January 6, 2004. History The Principal Group was primarily three companies: First Investors Corporation, Associated Investors of Canada and Principal Savings and Trust Corporation. First Investors Corporation was established by Donald Cormie in 1954. The company was initially based in Edmonton, Alberta. The company sold investment contracts, which were contracts by which investors remitted monthly amounts to First Investors Corporation, in return for a promised future redemption amount, plus interes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Donald Mercer Cormie
Donald Mercer Cormie (July 24, 1922 – February 20, 2010) was an American-born Canadian lawyer, financier and founder of the Principal Group. History Donald Cormie was a United States Merchant Marine from 1943 to 1944 before receiving his Master of Laws, LLM from Harvard Law School in 1946. With Jack W. Kennedy, Cormie co-founded the law firm Cormie Kennedy (1954-1987) in Edmonton, Alberta, and had a prestigious legal career. Cormie was the president and founder of one of Canada's largest Investment company, investment firms, which became known as the Principal Group. The main companies associated with the Principal Group were First Investors Corporation, Associated Investors of Canada and Principal Savings and Trust Corporation. The associated corporations within the Principal Group grew to more than $1 billion of assets. The corporations were closed by regulators in 1987 and subsequently liquidated. At the time of the closures, approximately 67,000 investors were at risk o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Legacy
In law, a legacy is something held and transferred to someone as their inheritance, as by will and testament. Personal effects, family property, marriage property or collective property gained by will of real property. Legacy or legacies may refer to: Arts, media and entertainment People * “Legacy”, a.k.a. Big Popp, a legend in Natick M.A. Comics * " Batman: Legacy", a 1996 Batman storyline * '' DC Universe: Legacies'', a comic book series from DC Comics written by Len Wein * ''Legacy'', a 1999 quarterly series from Antarctic Press * ''Legacy'', a 2003–2005 series released by Dabel Brothers Productions * Legacy, an alternate name for the DC supervillain Wizard who leads the Injustice Society IV team * Legacy (Marvel Comics), an alias used by Genis-Vell, better known as Captain Marvel * Legacy Virus, a fictional virus from the Marvel Universe * Marvel Legacy, a comic book line introduced in 2017 * '' Star Wars: Legacy'', a 2006 series from Dark Horse * '' X-Men: Legacy ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fraud In Canada
In law, fraud is intentional deception to secure unfair or unlawful gain, or to deprive a victim of a legal right. Fraud can violate civil law (e.g., a fraud victim may sue the fraud perpetrator to avoid the fraud or recover monetary compensation) or criminal law (e.g., a fraud perpetrator may be prosecuted and imprisoned by governmental authorities), or it may cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong. The purpose of fraud may be monetary gain or other benefits, for example by obtaining a passport, travel document, or driver's license, or mortgage fraud, where the perpetrator may attempt to qualify for a mortgage by way of false statements. Internal fraud, also known as "insider fraud", is fraud committed or attempted by someone within an organisation such as an employee. A hoax is a distinct concept that involves deliberate deception without the intention of gain or of materially damaging or depriving a victi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Of Canada
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessm ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Bérubé
Joseph Edward Bérubé was the longest serving Ombudsman of the province of New Brunswick, Canada, occupying the office from 1976 to 1993. History Joseph Bérubé was a native of Edmundston, New Brunswick. Following his graduation in law from the University of New Brunswick, he was called to the New Brunswick Bar in 1957 and to the Ontario Bar in 1958. Prior to assuming the role of Ombudsman in 1976, Bérubé had been a New Brunswick Provincial Court judge since 1965, following a period in private practice. Prior to accepting the appointment as Ombudsman, Bérubé had been the President of the New Brunswick Provincial Court Judges' Association, as well as the President of the Canadian Association of Provincial Court Judges.UncreditedBiography of Joseph E. Bérubé Office of the Ombudsman of New Brunswick. Retrieved 2016-11-14. In 1991, Bérubé and the New Brunswick Ombudsman Office initiated an inquiry into the 1987 collapse of the Principal Group The Principal Group was a g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gerald McLellan
Gerald Peter McLellan (1932-2009) was an Ombudsman in the Province of Saskatchewan,Speers Funeral ChapelMemorial Notice - Gerald Peter McLellan Retrieved 2016-10-20. notable during his tenure for his report on the collapse of the Donald Cormie, Principal Group. History Gerald McLellan was born March 9, 1932, in the town of Arcola, Saskatchewan. Following completion of primary school, primary and secondary school in Arcola, McLellan attended the University of Saskatchewan, where he obtained degrees in commerce and law. McLellan was in private practice for many years in Estevan, Saskatchewan, subsequent to a period as in-house counsel for The Co-operators, Co-operators Insurance in Regina, Saskatchewan, Regina. He was an elected Bencher of the Law Society of Saskatchewan from 1976 to 1982, while practising in Estevan, during which time he was also elected as a Trustee of the Estevan Board of Education. In 1987, he was appointed by the Progressive Conservative Party of Saskatchewan ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stephen Owen (politician)
Stephen Owen, , (born September 8, 1948) is a Canadian administrator and politician. Owen was the Vice-President of External, Legal and Community Relations for the University of British Columbia. Owen was the Member of Parliament for the electoral district of Vancouver Quadra, encompassing the western end of the City of Vancouver. He was a member of Prime Minister Paul Martin's Liberal government, serving in cabinet as Canada's tenth Minister of Western Economic Diversification and as Minister of State for Sport. Early career Owen received LL.M. from University College London/University of London in 1974. He received MBA from the International Management Institute, University of Geneva in 1986, and J.D. from the University of British Columbia in 1972. During the 1980s, Owen worked for the government of British Columbia as a non-partisan official. He served as that province's ombudsman from 1986 to 1992, and as Commissioner for the ground-breaking Commission on Resources and En ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Don Getty
Donald Ross Getty (August 30, 1933 – February 26, 2016) was a Canadian politician who served as the 11th premier of Alberta between 1985 and 1992. A member of the Progressive Conservatives, he served as Energy Minister and Federal and Intergovernmental Affairs Minister in the government of Peter Lougheed before leaving politics for the private sector in 1979. He returned to politics six years later to contest the leadership contest resulting from Lougheed's retirement. He defeated two other candidates, and became Premier November 1, 1985. As Premier, Getty was faced with an economic slowdown and falling energy prices, which hit Alberta's petroleum-dominated economy hard. Faced with mounting government deficits and increasing unemployment, he cut social spending and intervened with government money to prevent businesses from failing. Several of these interventions backfired in high-profile fashion, failing at their intended objective and costing scarce public funds as well. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Connie Osterman
Constance Elaine "Connie" Osterman (born June 23, 1936) is a former politician from Alberta, Canada. She served in the Legislative Assembly of Alberta from 1979 to 1992 as a member of the Progressive Conservative caucus in government. She served as a cabinet minister in the governments of Premier Peter Lougheed and Don Getty from 1982 to 1989. Political career Osterman first ran for a seat to the Legislative Assembly of Alberta in the 1979 general election, as the Progressive Conservative candidate in the electoral district of Three Hills; she defeated three other candidates by a large margin. In the 1982 Alberta general election Osterman won nearly quadruple the votes of her two opponents to hold her seat. She was then appointed Minister of Consumer and Corporate Affairs by Premier Peter Lougheed. Osterman was only the fifth woman in Alberta political history to be appointed to the provincial cabinet. When Don Getty became Premier in 1985, he appointed Osterman Minister o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
CBC News
CBC News is a division of the Canadian Broadcasting Corporation responsible for the news gathering and production of news programs on the corporation's English-language operations, namely CBC Television, CBC Radio, CBC News Network, and CBC.ca. Founded in 1941, CBC News is the largest news broadcaster in Canada and has local, regional, and national broadcasts and stations. It frequently collaborates with its organizationally separate French-language counterpart, Radio-Canada Info. History The first CBC newscast was a bilingual radio report on November 2, 1936. The CBC News Service was inaugurated during World War II on January 1, 1941, when Dan McArthur, chief news editor, had Wells Ritchie prepare for the announcer Charles Jennings a national report at 8:00 pm. Readers who followed Jennings were Lorne Greene, Frank Herbert and Earl Cameron. ''CBC News Roundup'' (French counterpart: ''La revue de l'actualité'') started on August 16, 1943, at 7:45 pm, being replaced by ''T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Edmonton
Edmonton ( ) is the capital city of the Canadian province of Alberta. Edmonton is situated on the North Saskatchewan River and is the centre of the Edmonton Metropolitan Region, which is surrounded by Alberta's central region. The city anchors the north end of what Statistics Canada defines as the " Calgary–Edmonton Corridor". As of 2021, Edmonton had a city population of 1,010,899 and a metropolitan population of 1,418,118, making it the fifth-largest city and sixth-largest metropolitan area (CMA) in Canada. Edmonton is North America's northernmost large city and metropolitan area comprising over one million people each. A resident of Edmonton is known as an ''Edmontonian''. Edmonton's historic growth has been facilitated through the absorption of five adjacent urban municipalities ( Strathcona, North Edmonton, West Edmonton, Beverly and Jasper Place) hus Edmonton is said to be a combination of two cities, two towns and two villages./ref> in addition to a series ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Archibald D
Archibald is a masculine given name, composed of the Germanic elements '' erchan'' (with an original meaning of "genuine" or "precious") and ''bald'' meaning "bold". Medieval forms include Old High German and Anglo-Saxon . Erkanbald, bishop of Strasbourg (d. 991) was also rendered in Old French. There is also a secondary association of its first element with the Greek prefix '' archi-'' meaning "chief, master", to Norman England in the high medieval period. The form ''Archibald'' became particularly popular among Scottish nobility in the later medieval to early modern periods, whence usage as a surname is derived by the 18th century, found especially in Scotland and later Nova Scotia. Given name English diminutives or hypocorisms include ''Arch, Archy, Archie, and Baldie (nickname)''. Variants include French ''Archambault, Archaimbaud, Archenbaud, Archimbaud'', Italian ''Archimboldo, Arcimbaldo, Arcimboldo'', Portuguese '' Arquibaldo, Arquimbaldo'' and Spanish ''Archibald ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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