If John Risley typifies the mindset of the business community in this country, we’re all done for.
He sold the company in 2021 for $1 billion. But instead of enjoying his money in retirement, he kept backing massive projects with global ambitions, including a stalled wind-powered hydrogen energy operation in western Newfoundland.
Risley was in Ottawa in December to drum up support for a deepwater port in the Arctic.
Under the increasing interest rates, the US$250-million loan inflated into a debt reaching nearly US$1 billion, the documents said. CFFI planned to sell off a few major investments and pay off the debt, but the sales never happened, the papers said.
Definition of a successful business man in Canada – one who can fill out a winning grant application.
Get out while you can.