How the Mighty Fall

Peter Pocklington was a Canadian icon. He started his business empire with several automobile dealerships and later expanded into some of Canada’s major corporations, including Gainers Foods and Palm Dairy. His fame grew after he purchased the Edmonton Oilers in the early 70’s, showcasing the young Wayne Gretzky, who was to help bring four Stanley Cups to the City of Edmonton (Mark Messier championed the Oiler’s fifth Cup, without the “Great One”).

Despite his wealth and fame he had his share of troubles along the way. In 1982 he and his wife were the victims of a foiled kidnapping attempt; as CEO of Gainers he presided over one of the nastiest union bust-ups in Alberta history and later he lost everything and assigned himself into bankruptcy with over $19 million in debt. Today, however, he is negotiating a plea deal in California to avoid a prison sentence for perjury and bankruptcy fraud. It seems that Mr. Puck tucked away a few valuable objet d’arts, including a collection of original Andy Warhol’s and failed to disclose the existence of two accounts that he controlled. His creditors, including the Government of Alberta, are screamin’ mad!

How the Mighty Fall!

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