Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 6, 1994, Winnipeg, Manitoba B6 Philip 6977002 Winnipeg free press Money january North West lights Beckon ceo by Kelly Taylor staff writer when Ian Sutherland packed up in Toronto last november and headed it was a Homecoming in More ways than a bornand bred was returning to command a company he had essentially founded six years Sutherland is president of the North West a historic company that was inside the Hudson Bay juggernaut for More than 200 its a bit scary in Sutherland led a group of investors in a buyout of the Bays Northern stores which is what the North West company evolved into under Bay his move to the presidency was prompted by the Surprise resignation of Ralph who had been president since i was As stunned As anybody when Ralph announced his resignation and in no Way thought of myself As a he but some persuasive cajoling from chairman Derek Riley convinced him to make the its a bit he you have the ultimate theres a risk there and its not an insignificant risk to Deal Ian Sutherland graduated from the University of Manitoba in 1966 with a Bachelor of Commerce from he moved to Montreal to join Price waterhouse As an garnering a chartered accountants designation two years in he joined commercial a in he joined mercantile six years with partner Raymond he bought the meagre assets of Interior basically a Shell company Worth about lengthy talks by when it was partially bought by Mutual the company had More than million in assets under administration and is now at when the Bay started Selling off i thought it might be possible they would want to sell Northern Sutherland Wendell free press Ian born and raised is Back in town after accepting the position of president of the North West making the initial offer was with Bay officials saying Northern want for but after talking at length about what Sutherland and his group saw As the future of the it needed a Cash infusion and that employees would own a significant share of the group was Able to persuade the and the Bay was Able to persuade to sell the raising million in shareholder including million held by and borrowing the group bought the the Deal was set to close on a so i went in on sunday to sign the i expected to go in for a few Sutherland they wheeled in six shopping carts full of i was there for eight you got to where you didst know what you were Sutherland said the 1985 partial takeover of Interior Trust by the Mutual which renamed the company Mutual played a minor role in his decision to become the Chance of being the senior executive Here was More attractive than managing a division of Mutual he for his motivation in directing the group that bought North West was twofold it was a Chance to repeat the process of building Interior it also looked like a Good we did the transaction because we thought it was a Good Deal and wed make Money on he initial investors bought in at and the Stock is now Worth resume Ian the North West company born 1945 to Hugh and Jocelyn family wife sons Derek and All education Commerce u of 1966 Home town Winnipeg hobbies recreational Cross country quote its a bit you have the ultimate theres a risk there and its not an insignificant risk to Deal on being chief software maker keys into marketed Prefontaine eyes huge Market potential in Ken press four years ago senior officials at the software Rescom ventures said to themselves weve got something Good the question they asked them selves then was would they be Able to survive Long enough to make it happen As the makers of one of the Lead ing software packages for the brokerage and Money management Rescom had already sur Vived although just barely the Stock Market crash of october the company held on and slowly developed its markets both in Canada and abroad and last week it announced a major marketing break through in the Rescom has signed a distribution and licensing agreement with the electronic securities quotation add financial information the new Jersey based company is the leading Ven Dor of quotation and information services to brokerage firms in the Martin Cash Doug rescome executive said add has its ser vice on about 65 per cent of the computer terminals in the brokerage business in the com pared to the modest total of to terminals that make up the entire brokerage Industry in Cana Mann and Rescom president de Prefontaine Are Only too aware of the huge Market potential in the its a very significant move for Mann this will give us an other major Arm in the Mann said Rescom has been talk ing to add for about four in a press Rescom quotes add president Ralph Koehrer As saying our clients told us they wanted referring to res coms Standard portfolio manage ment package used by in their marketing and after sales service add made an Ini tial Sale of about packages to a Baltimore based brokerage firm called Alex Brown the Sale will mean about in Gross Revenue to a very significant amount considering the Compa nys 1992 sales total of about with ads wealth of expert it Doest make a decision to offer a certain product the decision to include Market mate As an option with ads service Speaks volumes for the packages abilities and Prefontaine said in a prepared were extremely pleased with this to have the marketing might of add behind it will make a huge Dif Ference for the company opened an office in new York about one year ago and the third based employee will Start next its still too Early to pop bubbly by Murray Oxby Canadian press Toronto the booming Stock an increase in the number of air travellers and a Bevy of other indicators Sug Gest that Canadas Economy is finally gaining some but economists said this week that the slow growth in new jobs remains the glaring flaw in this brightening Robert chief forecaster for Dri said that weakness Means the Economy is More like a three legged horse than a thoroughbred about to break out of the starting we Are seeing a strengthening in the Pace of said Lloyd at chief economist of the Bank of but he warned against breaking out Vintage you cant bring out the Moet Chandon you might be Able to bring out cold the two economists said some especially have seen dramatic for the average person in the the situation int quite As Fairholm the recovery has been under Way since the second Quarter of but employment has risen by Only about one per he a More typical recovery would have had Job growth of four per and that helping to prolong a re cession mentality among consume without a consumer who is willing to the Economy is like a three legged horse it can stand but it cant go very far or Fairholm Atkinson said consumer Confidence was also Hurt by the fact that canadians after tax income declined for the fourth year in a Row last partly because of rising evidence of a strength ening Economy q the Toronto Stock exchanges Benchmark 300 composite Index zoomed ahead by 29 per cent in Stock prices generally Lead the Over All q passenger traffic at Toronto Pearson International Airport which is seen As a barometer of eco nomic activity increased by two per cent last year to q retailers enjoyed a Bountiful with the retail Council of Canada estimating that sales jumped five per cent compared with the 1992 the body shop for exam says sales of its health and Beauty products Rose 15 per theres no question that Consumers were spending Money this said body shop partner q the number of business and personal bankruptcies continues to g interest rates hit a 30year Low on tuesday As the Bank of Canada Bank rate fell to per q construction of new Homes Rose per cent in the third consecutive monthly recent statistics Canada reports also show improvement i the Economy grew by per cent in following increases in August and sense Mpr mists expect the Economy to have grown by to three per cent last j exports reached record hitting billion in the country merchandise Trade sur plus exports minus imports is also and stood at Bil lion in demand for Cana Dian exports is being fuelled by an improving Mick tagger is just a reminder that retirement is creeping up on us make sure youre Maiu tally Mutual funds into the excellent record look ill i Cit Marks Mutual Lor More Injo Nulion Call ;