Raymond Loewen
Raymond L. "Ray" Loewen (born June 27, 1940[1]) 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 Abraham Loewen,[1] a funeral parlour operator,[2] Loewen completed a degree in theology at Briercrest Bible College in Saskatchewan. When his father became ill, he took over the family business.[3] He married Anne Heinrichs in 1962.[1] In 1969, Loewen and his family moved to British Columbia. At that time, he also became involved in real estate and transportation.[3]
After leaving politics, Loewen was involved in real estate for a time. During the mid-1980s, he began acquiring Canadian funeral homes.[3] 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.[2] 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.[4] In 1998, Loewen stepped down as CEO and sold his shares in the company.[5] The Loewen Group filed for bankruptcy protection in 1999; in 2002, it was restructured as the Alderwoods Group.[2]. In 2006, Alderwoods board of directors sold Alderwoods to SCI (Service Corporation International), an American Funeral Corporation.
In 2008, Loewen's Twin Cedars estate in Burnaby was listed for sale at $25 million (Canadian),[6] and was sold June 2012 for $9.948 million.
References
- ^ a b c Normandin, P G (1978). Canadian Parliamentary Guide, 1978.
- ^ a b c "Get big — or die tryin'". The Globe and Mail. June 22, 2007. Retrieved 2012-01-27.
- ^ a b c "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. Archived from the original on July 2, 2012. Retrieved 2012-01-27.
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