One of Canada’s most prolific entrepreneurs remains optimistic on the state of the economy, even as many experts predict a recession in the near future.
Jimmy Pattison, the 94-year-old chairman and CEO of The Jim Pattison Group, said he believes the economy remains in a good place.
“I tend to like what’s happening,” he told BNN Bloomberg on Friday. “We couldn’t have better neighbours than the Americans and they’re doing well and I think overall I’m very optimistic with what’s coming.”
The Jim Pattison Group is most known for advertising and specifically for billboard signs, but the company has branches in seafood, forestry, media and auto sales, to name a few. Pattison himself is the second-richest Canadian, with an estimated net worth of US$11 billion, according to Wealth Professional.
Pattison said both his food and entertainment divisions are doing well and have been positioned with a positive outlook for the near and short terms.
“In our experience right now, the entertainment business has been very good to us,” he said.
“We’re very optimistic and positive in the food business that we’re in. In fact, we’re in the business of growing in the U.S.,” he continued.
Pattison acknowledged that his advertising business has taken a bit of a hit, but he remains optimistic about its future.
“We’ve been through the valley before, but the key is to watch our costs and make sure our customers get good service and we do our part,” he said.
Ultimately, Pattison believes his company is primed to expand at a time when others may be contracting.
“Sometimes the best time to expand is when things are negative, because you buy things at a lower price then when things are bouncing around very high,” he said.
Jimmy Pattison rebuffs consensus, remains bullish on the economy - BNN Bloomberg
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