Raymond Loewen
Raymond L. "Ray" Loewen was a business owner and political figure in British Columbia. He represented Burnaby-Edmonds in the Legislative Assembly of British Columbia from 1975 to 1979 as a Social Credit member.
Born in Steinbach, Manitoba, the son of a funeral parlour operator,[1] Loewen completed a degree in theology at Briercrest Theological College in Saskatchewan. When his father became ill, he took over the family business. In 1969, Loewen and his family moved to British Columbia. At that time, he also became involved in real estate and transportation.[2]
After leaving politics, Loewen was involved in real estate for a time. During the mid-1980s, he began acquiring Canadian funeral homes.[2] In 1987, the Loewen Group expanded into the United States. By 1997, the company had 15,000 employees and operated 1,115 funeral homes. In 1995, a funeral home operator in Mississippi won $500 million in damages in a breach of contract suit.[1] The large amount of punitive damages awarded relative to business assets not worth more than $4 million was criticized, but this setback led to a downturn in the company's fortunes.[3] In 1998, Loewen stepped down as CEO and sold his shares in the company.[4] The Loewen Group filed for bankruptcy protection in 1999; in 2002, it was restructured as the Alderwoods Group.[1]
In 2008, Loewen's Twin Cedars estate in Burnaby was listed for sale at $25 million (Canadian).[5]
References
- ^ a b c "Get big — or die tryin'". Globe and Mail. June 22, 2007. Retrieved 2012-01-27.
- ^ a b "The Loewen Group, Inc". The Gale Group, Inc. Retrieved 2012-01-27.
- ^ "It's time to reform investor-state arbitration". Burnaby Beacon. October 3, 2011. Retrieved 2012-01-27.
- ^ "Loewen Group's Founder Sells His Stake". New York Times. November 6, 1998. Retrieved 2012-01-27.
- ^ "Burnaby mansion could be yours for $25 million". Vancouver Sun. September 2, 2008. Retrieved 2012-01-27.
 | This article about a British Columbian politician is a stub. You can help Wikipedia by expanding it. |