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Canadian Tire Corporation, Ltd., is one of Canada’s most recognized retail chains. Founded in Toronto by brothers J.W. and A.J. Billes, the company got its start when the brothers bought the Hamilton Tire and Garage in 1922. In 1927, they incorporated the business as the Canadian Tire Corporation. Still headquartered in Toronto, the company operates a network of 1,700 stores and gas bars that extends to every province and territory except Nunavut. Canadian Tire owns Mark’s Work Wearhouse and FGL Sports, including the retail companies Sport Chek, Atmosphere and Sports Experts. It is a public company that trades on the Toronto Stock Exchange under the symbol CTC. In 2018, Canadian Tire registered $14.1 billion in revenue and $783 million in profit and held $17.3 billion in assets.

John (Jack) Archibald Armstrong, OC, business executive, geologist, engineer (born 24 March 1917 in Dauphin, Manitoba; died 26 December 2010 in Nanaimo, BC). Armstrong graduated from the University of Manitoba and worked four decades for Imperial Oil, Canada’s largest oil company. He served as its CEO (1973–81) and chairman (1974–81) before retiring 1982.

A bailout consists of providing financial help to a business or to the wider economy during times of trouble.

James Armstrong Richardson Jr., PC, grain merchant, politician (born 28 March 1922 in Winnipeg, MB; died 17 May 2004 in Winnipeg). The son of James A. Richardson Sr., James Jr. studied at Queen’s University and served in the RCAF as a Liberator bomber pilot patrolling the North Atlantic. He joined the family firm of James Richardson and Sons Ltd. in 1946 and was chairman and executive officer from 1966 to 1968. Richardson was elected Liberal member of Parliament for Winnipeg South in June 1968 and appointed minister without portfolio in July. From 1969 to 1972, he was minister of Supply and Services. He was re-elected in the 1972 general election and was appointed minister of National Defence. Following his resignation from Cabinet in 1978 over the government’s language policy, he sat as an Independent (1978–79), after which he returned to the family firm and became a director.

Sun Life Financial, based in Toronto, is one of Canada’s largest insurance companies. It has operations located around the world and offers insurance and other investment products to individuals and corporate clients. Total assets of the company have grown from $74 million in 1915, to $55.8 billion in 2000 and $271.8 billion in 2018. Its shares trade on the Toronto, New York and Philippines stock markets.

Shoppers Drug Mart is a wholly owned subsidiary of Loblaw Companies Limited, which itself is a subsidiary of George Weston Limited. It operates drugstores, pharmacies, medical supply stores and beauty boutiques. Its retail chains include Shoppers Drug Mart, Pharmaprix, Shoppers Simply Pharmacy, Pharmaprix Simplement Santé, Wellwise and Murale. It also owns a patient assistance provider and drug distributor (Shoppers Drug Mart Specialty Health Network), a supplier of pharmaceutical products and services for long-term care homes (MediSystem Technologies), and a non-surgical cosmetic clinic (The Beauty Clinic). In 2018, Shoppers Drug Mart operated more than 1,300 stores. It is headquartered in Toronto, Ontario.

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Gerald Wilfred Schwartz, OC, business executive (born 24 November 1941 in Winnipeg, MB). Gerry Schwartz is the founder, chairman and chief executive officer (CEO) of Toronto-based Onex Corporation, one of Canada’s largest private equity firms. A successful long-term investor, he has overseen major business deals in more than three decades at the head of Onex. Schwartz was one of 45 Canadians to make the Forbes list of billionaires in 2019, with the magazine estimating his net worth at US $1.6 billion. He has donated millions of dollars to universities, hospitals, charities and cultural organizations.

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Lorne Charles Webster, financier (born 19 September 1928 in Montreal, QC; died 15 December 2004 in Montreal).

Manulife Financial Corporation, based in Toronto, is Canada’s largest insurance company and one of the largest in the world. Its principal operations are located in Canada, the United States and Asia. Manulife offers life, health and income insurance protection, as well as annuities and wealth and asset management. It was founded in 1887 as Manufacturers Life Insurance Company Inc. Canada’s first prime minister, Sir John A. MacDonald, was also the company’s first president. Manulife is a public company that trades on the Toronto, New York and Philippine stock exchanges under the symbol MFC and on the Stock Exchange of Hong Kong as 945. In 2018, Manulife registered $39 billion in revenue and $4.8 billion in profit and held $1.1 trillion in assets. The company employs more than 34,000 people, who serve nearly 28 million customers.

Stephen J. R. Smith, financial services entrepreneur, civic leader, philanthropist (born 2 June 1951 in Ottawa, ON). Stephen Smith is a successful entrepreneur in the financial services industry. He is co-founder, chairman, president and CEO of First National Financial LP, Canada’s largest non-bank mortgage lender, as well as chairman and co-owner of the Canada Guaranty Mortgage Insurance Company, Canada’s third largest mortgage insurance provider. He is also involved in the administration of cultural organizations such as the Royal Ontario Museum, Rideau Hall Foundation and Historica Canada — publisher of The Canadian Encyclopedia — where he has been chair of the board of directors since 2009. The business school at his alma mater, Queen’s University, was named in his honour after his record $50 million gift to the university in 2015. He is a Companion of the Canadian Business Hall of Fame (2019). A licensed pilot, he is renowned among friends and associates for his daredevil approach to his favourite sports, which include heli-skiing and long-distance cycling. As Charles Brindamour, president and chief executive officer of Intact Financial Corp. has said, “Stephen is a force of nature.”

Equity is the monetary value of a business or property, beyond any liens or related debts. The term generally refers to “shareholders’ equity.” Shareholders’ equity is an ideal figure that stands for the amount of money that shareholders would get if the company liquidated its assets and paid its debts. In informal usage, the term equities has evolved to mean publicly traded stocks.

Financial services, as the name implies, are finance-related services that businesses provide to clients. In a Canadian context, the best example relates to the country’s large banks. The World Economic Forum ranked Canada’s large banks as the safest on the planet following the 2008 financial crisis.

In economics, capital traditionally refers to the wealth owned or employed by an individual or a business. This wealth can exist in the form of money or property. Definitions of capital are constantly evolving, however. For example, in some contexts it is synonymous with equity. Social capital can refer to positive outcomes of interactions between people or to the effective functioning of groups. Human capital refers to people’s experience, skills and education, viewed as an economic resource.

Conrad Moffat Black, Lord Black of Crossharbour, newspaper publisher, author, columnist and historian (born 25 August 1944 in Montreal, QC). Conrad Black owned and published a large network of newspapers in Canada and abroad between 1969 and 2004. He was convicted of mail fraud and obstruction of justice in 2007 and served a prison sentence in the United States. However, Black was pardoned for his convictions in 2019 by US president Donald Trump. He is a well-known author and columnist on history and politics.

An asset is a useful and desirable thing or quality. The word is most often used in business, financial or accounting contexts. Canada has some of the world’s most impressive physical and natural resources. These resources may be viewed as “national assets.” The concept is also useful in personal finance, as housing is most Canadian families’ largest asset.

George Weston Limited is one of North America’s largest processors and distributors of food. The company operates three subsidiaries: Loblaw Companies Limited, a grocery, drugstore and general retailer; Weston Foods, a baking company; and Choice Properties, a real estate investment trust. George Weston Ltd. owns a variety of brands and retail banners. Weston Foods includes Wonder, D’Italiano and Country Harvest and Loblaw brands include No Name, President’s Choice, Life Brand and Joe Fresh. Loblaw stores include Loblaws, Zehrs, Your Independent Grocer, Provigo, Atlantic Superstore, Fortinos, Dominion, Independent City Market, Valu-mart, ARZ Bakery, Wholesale Club, T&T Supermarket, Real Canadian Liquorstore, Real Canadian Superstore, No Frills, Maxi, Extra Foods and Shoppers Drug Mart. In 2018, George Weston Ltd. registered $48.6 billion in revenue and $530 million in profit and held assets valued at $43.8 billion. George Weston Ltd. is the country’s largest private-sector employer, with 203,238 full- and part-time employees as of 2018. It is a public company headquartered in Toronto and listed on the Toronto Stock Exchange under the symbol WN.

Annette Verschuren, OC, business executive, entrepreneur (born 24 June 1956 in North Sydney, NS). Verschuren studied business at St. Francis Xavier University and also holds a number of honorary doctorates. Best known for her 15 years as the president of The Home Depot Canada, Verschuren co-founded Toronto energy-storage start-up NRStor in 2012 and serves as its chair and CEO. She has served on several government-appointed bodies and the boards of Canadian businesses and non-profits.

Brandeis Denham Jolly, teacher, entrepreneur, publisher, broadcaster, philanthropist, civil rights activist, community leader (born 26 August 1935 in Industry Cove, Jamaica). Jolly began his business career by purchasing and operating rooming houses and nursing homes. He later purchased and became the publisher of Contrast, a Black community newspaper in Toronto and established FLOW 93.5, the first Black-owned radio station and the first station in Canada to showcase Black music and the stories of the Black community. Jolly also was involved with or founded and led community groups — such as the Black Action Defence Committee — that sought to end police violence targeting young Black men. Jolly also contributed generously to several causes including scholarships for promising young Black Canadians.

Loblaw Companies Limited is a subsidiary of George Weston Limited. It operates supermarkets, drug stores, liquor stores and clothing stores. In 2018, Loblaw Companies Ltd. operated more than 2,400 stores, making it Canada’s largest food and drug retailer. It is a public company headquartered in Brampton, Ontario. It trades on the Toronto Stock Exchange under the symbol L.

Ernest Leo Kolber, OC, businessman, philanthropist, senator (born 18 January 1929 in Montreal, QC; died 9 January 2020 in Montreal). Leo Kolber was a pillar of Canada’s business, political and philanthropic communities for more than 50 years. He was perhaps best known as a long-time advisor to the Bronfman family. Kolber also ran the successful real estate firm Cadillac Fairview Corporation, as well as holding companies that administered the Bronfman family trust. He served in the Senate of Canada from 1983 to 2004, most notably as chairman of the Standing Committee on Banking, Trade and Commerce. He was also the Liberal Party’s chief fundraiser for many years and chair of the Advisory Council on National Security from 2005 to 2007. An Officer of the Order of Canada, he was recognized for his many charitable and philanthropic contributions.