Business
To the US, Mexico, or…
Deciding on, and then entering foreign markets requires homework, careful analysis and best practice. If you’re in the oil and gas services sector in Red Deer, industry-based direction setting is available, in this new free “get abroad right” certificate training.
By Lesley Young
Good advice on getting abroad? There’s a wealth of experience from local industries.
For more than a year, Jerry Raduy researched whether to take his small, Calgary-based drilling company, Clear Directional Drilling Solutions, into the Middle East.
After travelling to a free trade zone in the Persian Gulf and investing in professional service firms to investigate what’s involved to do business in Iran—from accounting to shipping equipment to legal and insurance concerns—Raduy recently decided to put the expansion plans on pause… temporarily.
“We don’t know what’s going to happen yet with Canada and U.S. relations when it comes to some Middle Eastern countries,” said Raduy, adding that his research also revealed there were too many unknowns beyond the political uncertainty.
“We don’t want to be first. We want to be a close second. Let somebody else go through the pain and misery to pave the path,” he said. So why did they bother at all? The promise of future growth—day rates for oil and gas services in some Middle Eastern countries are three to four times what they are in North America—is tempting despite the risks, such as waiting six months to a year for receivables.
“It’s high risk, but it’s also high reward,” said Raduy.
Expanding into other markets isn’t for everyone. That’s all the more reason why small to medium-size enterprises (SMEs) need to be smart about their plans to enter foreign markets, said Edy Wong, director of the Centre for International Business Studies at the Alberta School of Business
“Internationalization is not for everyone or for every business. An SME should diversify, but only if they have a product that is truly competitive and if they can reap benefits from economies of scale,” he said. “Having said that, the economy is now global. So, any business should consider how the global market may become part of their business plans over time and have a long view on that.”
After two earlier training sessions, the Petroleum Services Association of Canada, in partnership with Alberta Economic Development, Alberta School of Business, and the Red Deer College Donald School of Business, will be hosting a 1.5-day training program for Central Alberta’s oil and gas service and technology SMEs to share and expand on international market entry essentials.
What were some of the tips gleaned from these earlier workshops and cases? There were many, such as “choose your time”, “make sure you have money to spend”, “find a partner”, or “consider cultural differences.” From participants’ feedback though, what mattered most, even beyond such key takeaways, “was the full joint experience of this training.”
For more information and to register go to: www.psac.ca
From the Daily Caller News Foundation
A resurfaced 2018 video from a Minneapolis-area TV station shows how Somali scammers allegedly bilked Minnesota out of millions of dollars for services that they never provided.
Independent journalist Nick Shirley touched off a storm on social media Friday after he posted a photo of one day-care center, which displayed a banner calling it “The Greater Learing Center” on X, along with a 42-minute video that went viral showing him visiting that and other day-care centers. The surveillance video, which aired on Fox 9 in 2018 after being taken in 2015, showed parents taking kids into the center, then leaving with them minutes later, according to Fox News.
“They were billing too much, they went up to high,” Hennepin County attorney Mike Freeman told Fox 9 in 2018. “It’s hard to imagine they were serving that many people. Frankly if you’re going to cheat, cheat little, because if you cheat big, you’re going to get caught.”
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Democratic Gov. Tim Walz of Minnesota was accused of engaging in “systemic” retaliation against whistleblowers in a Nov. 30 statement by state employees. Assistant United States Attorney Joe Thompson announced on Dec. 18 that the amount of suspected fraud in Minnesota’s Medicaid program had reached over $9 billion.
After Shirley’s video went viral, FBI Director Kash Patel announced the agency was already sending additional resources in a Sunday post on X, citing the case surrounding Feeding Our Future, which at one point accused the Minnesota government of racism during litigation over the suspension of funds after earlier allegations of fraud.
KSTP reported that the Quality Learning Center, one of the centers visited by Shirley, had 95 citations for violations from one Minnesota agency between 2019 to 2023.
President Donald Trump announced in a Nov. 21 post on Truth Social that he would end “Temporary Protected Status” for Somalis in the state in response to allegations of welfare fraud and said that the influx of refugees had “destroyed our country.”
Business
Disclosures reveal Minnesota politician’s husband’s companies surged thousands-fold amid Somali fraud crisis
Rep. Ilhan Omar’s latest financial disclosures reveal seemingly sudden wealth accumulation inside her household, even as Minnesota grapples with revelations of massive fraud that may have siphoned more than $9 billion from government programs. The numbers, drawn from publicly filed congressional reports, show two companies tied to Omar’s husband, Tim Mynett, surging in value at a pace that raises more questions than answers.
According to the filings, Rose Lake Capital LLC — a business advisory firm Mynett co-founded in 2022 — jumped from an assessed range of $1 to $1,000 in 2023 to between $5 million and $25 million in 2024. Even using the most conservative assumptions allowed under Congress’ broad valuation ranges, the company’s value would have increased thousands of times in a single year. The firm advertises itself as a facilitator of “deal-making, mergers and acquisitions, banking, politics and diplomacy.”
Archived versions of Rose Lake’s website once showcased an eye-catching lineup of political heavyweights: former Ambassador to Bahrain Adam Ereli, former Sen. Max Baucus, and prominent Democratic National Committee alumni William Derrough and Alex Hoffman. But as scrutiny surrounding Omar intensifies — particularly over whether her political network intersected with sprawling fraud schemes exposed in Minnesota — the company has quietly scrubbed its online footprint. Names and biographies of team members have vanished, and the firm has not clarified whether these figures remain involved. Omar’s office offered no comment when asked to explain the company’s sudden growth or the removal of its personnel listings.
Mynett, Omar’s third husband, has long been a controversial presence in her political orbit, but the dramatic swell in his business holdings comes at a moment when trust in Minnesota’s oversight systems is already badly shaken. Federal and state investigators now estimate that fraud involving pandemic-era and nonprofit programs may exceed $9 billion, a staggering figure for a state often held up as a model of progressive governance. For many residents, the revelation that Omar’s household wealth soared during the same period only deepens skepticism about who benefited from Minnesota’s expansive social-spending apparatus.
The financial story doesn’t stop with Rose Lake. A second Mynett-linked entity, ESTCRU LLC — a boutique winery registered in Santa Rosa, California — reported an assessed value of $1 million to $5 million in 2024. Just a year earlier, Omar disclosed its worth at $15,000 to $50,000. Despite the dramatic valuation spike, ESTCRU’s online storefront does not appear to function, its last social media activity dates back to early 2023, and the phone number listed on its website is no longer in service. As with Rose Lake, Omar’s office declined to comment on the winery’s sudden rise in reported value.
The House clerk has yet to release 2025 disclosures, leaving unanswered how these companies are performing today — and how such explosive growth materialized in the first place.
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