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  #2001  
Old Posted Nov 28, 2018, 10:29 PM
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maybe the Humphry inn will make a power play and take over CanadInns in the biggest surprise business deal in Winnipeg hotel history!
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  #2002  
Old Posted Dec 10, 2018, 6:23 PM
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I'm surprised that this story didn't get more play...

Gary Ng, a 34 year old finance guy (not sure if that's the official title) just bought PI Financial Corp. of Vancouver for $101 million -- cash.

Apparently he made his fortune a decade ago during the 08-09 financial crisis. He lives in Lindenwoods, his dad is a retired mechanic and his mom was an office secretary at MTS.

Crazy.

https://www.newswire.ca/news-release...700868911.html
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  #2003  
Old Posted Dec 10, 2018, 6:26 PM
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Wow, good for him.
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  #2004  
Old Posted Dec 10, 2018, 6:46 PM
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Quote:
Originally Posted by esquire View Post
I'm surprised that this story didn't get more play...

Gary Ng, a 34 year old finance guy (not sure if that's the official title) just bought PI Financial Corp. of Vancouver for $101 million -- cash.

Apparently he made his fortune a decade ago during the 08-09 financial crisis. He lives in Lindenwoods, his dad is a retired mechanic and his mom was an office secretary at MTS.

Crazy.

https://www.newswire.ca/news-release...700868911.html
Would love to see him put a presence in Winnipeg. Eiter way, that's an impressive resume.
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  #2005  
Old Posted Dec 10, 2018, 8:39 PM
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^The Free Press story made it sound like he mostly lives in Vancouver now, but maintains some ties to Winnipeg.
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  #2006  
Old Posted Dec 20, 2018, 6:02 PM
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Seems to have flown under the radar for the most part locally, so figured I'd post this myself (normally I'd wait for someone who doesn't work for Richardson post such things):

https://www.winnipegfreepress.com/bu...503093861.html

Quote:
Richardson International Ltd. announced an agreement with Conagra Brands Inc. to purchase its well-known Wesson cooking oil brand, including a large production facility in Memphis, Tenn.

Wesson is the largest vegetable oil brand in the U.S., with about 11.5 per cent of the U.S. market for canola, soy and blended vegetable oil products.

Richardson is already the largest agribusiness company in Canada. When the deal is completed sometime during the first quarter of 2019, the 280,000-square-foot Memphis production facility will become the largest of the privately held Winnipeg company’s current holdings.
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  #2007  
Old Posted Dec 20, 2018, 6:08 PM
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can't wait for the trickle down effects
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  #2008  
Old Posted Dec 20, 2018, 6:20 PM
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Originally Posted by headhorse View Post
can't wait for the trickle down effects
If I'm detecting sarcasm correctly, it is a somewhat fair point. However, do consider that Richardson International has hundreds of downtown Winnipeg employees, and is a company that produces nothing in Winnipeg itself. All of the head office is "trickle down effect" of the grain elevators, terminals and processing plants that the company owns.

It may not be Skip in terms of numbers, but there's a lot of high quality jobs at Portage and Main that support these far flung locations.

With that said, I try my best to stay out of these discussions (and out of the Innovation Centre thread for the most part)... just wanted to let people know that there was some news this week.

Last edited by ywgwalk; Dec 20, 2018 at 6:31 PM.
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  #2009  
Old Posted Dec 20, 2018, 6:31 PM
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lol I can't see it being a bad thing that a local company is expanding their portfolio.
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  #2010  
Old Posted Dec 20, 2018, 6:53 PM
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Richardson’s brings external wealth into Winnipeg. By contrast, TNSE, as an example, re-spends wealth that it has accumulated by and large from local consumers.
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  #2011  
Old Posted Dec 20, 2018, 7:21 PM
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This could end up leading to more Canadian inputs going into the oil down there. Can only be a positive.
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  #2012  
Old Posted Dec 21, 2018, 1:29 AM
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Originally Posted by bomberjet View Post
lol I can't see it being a bad thing that a local company is expanding their portfolio.
A Winnipeg-headquartered firm is a very good thing, and its growth and success is important to keep it from being an acquisition target.

I know it's privately held, but selling isn't an impossibility -- it was only a few years ago that TD made overtures hoping to buy the family's wealth-management business for half a billion+.
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  #2013  
Old Posted Dec 21, 2018, 1:48 AM
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Quote:
Originally Posted by ywgwalk View Post
If I'm detecting sarcasm correctly, it is a somewhat fair point. However, do consider that Richardson International has hundreds of downtown Winnipeg employees, and is a company that produces nothing in Winnipeg itself. All of the head office is "trickle down effect" of the grain elevators, terminals and processing plants that the company owns.
Also Tundra Oil & Gas.
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  #2014  
Old Posted Dec 21, 2018, 3:48 AM
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Quote:
Originally Posted by headhorse View Post
can't wait for the trickle down effects
When the proletariat revolts and Richardson International is finally nationalized, there will be plenty of grain to feed us starving masses of non-bourgeoisie.
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  #2015  
Old Posted Dec 21, 2018, 4:37 AM
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When the proletariat revolts and Richardson International is finally nationalized, there will be plenty of grain to feed us starving masses of non-bourgeoisie.
Lol can't wait to stand in a bread line
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  #2016  
Old Posted Dec 21, 2018, 5:21 AM
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can't wait for my weekly ration of sweet, sweet canola oil!
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  #2017  
Old Posted Dec 21, 2018, 7:00 PM
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https://www.theleafnews.com/news/win...503246402.html

Looks like Bonify's days are probably numbered if this is true. Wonder what will happen to their assets (they have a production facility in the North End).

Anyone know who the investors behind this firm are?
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  #2018  
Old Posted Dec 26, 2018, 7:41 PM
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Originally Posted by dmacc View Post
Would love to see him put a presence in Winnipeg. Eiter way, that's an impressive resume.
Gary Ng has offices throughout the country but is definitely headquartered here... in 201 Portage I think. I see him in Wpg square from time to time. Impressive achievements from that guy.
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  #2019  
Old Posted Dec 29, 2018, 2:46 AM
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Delta vs. Fairmont

In the midst of my first stay at the Delta. While I would say that "VG" (formerly the Velvet Glove) at the Fairmont is a better restaurant than Blaze, the rooms at the Delta are a notch above the Fairmont. Definitely not luxury, but more up to date. However, I still prefer the Inn at the Forks. If they ever signed up with one of Marriott or Hilton's soft brands I would never stay anywhere else when here.

One thing to keep in mind, when they are trying to check out opposing NHL teams there is a lot of security and the lobby can get congested. At other times things are much more casual. e.g. Bruce Boudreau was holding court in the lobby earlier this evening.
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  #2020  
Old Posted Dec 31, 2018, 2:36 AM
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Quote:
Originally Posted by borkborkbork View Post
https://www.theleafnews.com/news/win...503246402.html

Looks like Bonify's days are probably numbered if this is true. Wonder what will happen to their assets (they have a production facility in the North End).

Anyone know who the investors behind this firm are?
Not sure if it's been made public yet but the illegal weed came from Hells Angels. They were mixing the HA weed in with the weed they were growing. Bonify is owned by a German holding company who from the sounds of it had zero idea any of this was going on – it was being done by the local managers. The German company fired all the top people almost immediately after hearing about this.

I've heard from several people that apparently almost all the growers are using gang-affiliated consultants as many of them have no experience in how to securely and safely store and distribute marijuana. It needs to be extremely secure to deter break ins and thefts in delivery, like armored banking trucks. This is kind of what happens when you take the RFP process to produce weed that Manitoba decided on – the people with lots of money won the contracts, regardless of how much experience they had in the field.
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