What so many people don't know about Peter Munk. He was a brilliant idea man and a smoothe talker. He wanted to manufacture colour TVs and convinced the premier of Nova Scotia that if they built a plant there he would hire local people to work there in Stellerton Nova Scotia. Problem was fishermen weren't adept at electronics and the quality of the TVs were terrible. At the same time a partner from clairtone in the USA got huge contracts to sell to many of the largest retailers there, and at the same time Clairtone went public and shares opened at $2.00 per share. In 6 months they sold thousands of TVs to these stores. Shares went up to $15. as annual reports showed big profits. However, although sales were shown as final, they were in fact sold on consignment and because of the poor quality many were returned for credit. Company ended up going bankrupt but prior to that Munk and his Treasurer sold their shares. Munk made 8 million. The Ont. Security Commission charged him with insider trading but later dropped all charges. Bottom line Peter Munk was a crook. I know because at that time I was the Assistant Credit Manager. Sorry for the long rant.Clairtone Electronics was founded by Peter Munk. He had his share (or maybe more than his share ) of hits and misses.
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We also wrote on a piece of paper every time we did it and had to keep a small book of records.When banks didn't have ATMs. We all walked around with wads of bills that we withdrew via a teller.
Bank book was updated with a Dot-Matrix printer!We also wrote on a piece of paper every time we did it and had to keep a small book of records.
Wow! That’s an interesting story.What so many people don't know about Peter Munk. He was a brilliant idea man and a smoothe talker. He wanted to manufacture colour TVs and convinced the premier of Nova Scotia that if they built a plant there he would hire local people to work there in Stellerton Nova Scotia. Problem was fishermen weren't adept at electronics and the quality of the TVs were terrible. At the same time a partner from clairtone in the USA got huge contracts to sell to many of the largest retailers there, and at the same time Clairtone went public and shares opened at $2.00 per share. In 6 months they sold thousands of TVs to these stores. Shares went up to $15. as annual reports showed big profits. However, although sales were shown as final, they were in fact sold on consignment and because of the poor quality many were returned for credit. Company ended up going bankrupt but prior to that Munk and his Treasurer sold their shares. Munk made 8 million. The Ont. Security Commission charged him with insider trading but later dropped all charges. Bottom line Peter Munk was a crook. I know because at that time I was the Assistant Credit Manager. Sorry for the long rant.
When ATMs were new, RBC referred to them as “Personal Touch Banking”. Can’t use that slogan anymore!When banks didn't have ATMs. We all walked around with wads of bills that we withdrew via a teller.
Never mind facebook, I have her email.Did you ever try to contact her on Facebook?
Much more seedier, that's murdered shoe shine boy Emanuelle Jacques at 2:44 mrk.Toronto used to be a lot grittier than it is now.
I miss that about it.
Guy would cart around his portable sharpening station ringing a bell. Complete with pedal power. All mechanical. Don't know why this wouldn't still be a valued service.Are the street "knife sharpening" guys still around?
I can remember when bank books were updated by handwriting. The teller went to a desk and found the card for your account and copied the numbers in your bank book.Bank book was updated with a Dot-Matrix printer!
They just stopped using bank books in the last year. Now they just mail you a statement.I can remember when bank books were updated by handwriting. The teller went to a desk and found the card for your account and copied the numbers in your bank book.