The Loewen Group Inc. Was Founded In 1969. The Company Has Two Major Headquarter

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Term Paper Title	The Loewen Group Inc. Was Founded In 1969. The Company Has Two Major Headquarter
# of Words	3816
# of Pages (250 words per page double spaced)	15.26

     The Loewen Group Inc. was founded in 1969.  The company  has two major headquarters in North America, one in Burnaby, British Colombia and a second in Cincinnati, Ohio.  Loewen Group Inc. (L.G.I.) is the largest funeral services enterprise in Canada and is the second largest company in the North American Funeral Services Industry.  L.G.I. owns 918 funeral homes and 269 cemeteries and also engages in the pre-need selling of funeral services including cemetery and cremation services.  The company strives on respecting its Eagle Principle, which is displayed on the first page of its 1995 Annual Report:

          "To soar to heights of possibilities one needs two equally
healthy, strong wings - one being that of people or service
concerns, the other that of responsible planning and fiscal
management.  It is the balance of these wings that enables
the eagle to soar beyond all heights"1

     In 1995, the company defended itself against two major lawsuits, as well as continued to negotiate acquisition agreements.  The Loewen Group Inc. stresses that once an acquisition has been completed, local management is encouraged to remain and offers long term contracts to its key employees, rarely dismissing the other employees.  L.G.I. provides many services to its acquired companies including offering training to  new employees on its management information systems and covering costs for any renovations which are needed on the acquired locations.  Each funeral home and cemetery is operated as a distinct profit centre, with monthly and annual financial performance monitored by regional and corporate management in accordance with budgeted projections.

     This report includes a study of The Canadian Funeral Services Industry practices, a review of the take-over attempt by Service Corporation International, an analysis of the Loewen Group Inc. 1995 Annual Report for the period ending December 31, 1995, and examination of the revenue recognition practices used by L.G.I..

The Funeral Services Industry

According to a paper issued in August 1995, by Statistics Canada's Services, Science and technology Division  Final Purchase, Growing Demand:  The Canadian Funeral Services Industry, the funeral services industry, in comparison to other industries, has historically been considered a low risk industry.  The Funeral service industry is not significantly affected by economic cycles.  The stability of the industry is increased by future demographic trends.  Individuals from the "bab...

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