OBJECTIVE:
To utilize the skills obtained and sharpened over my business career to the best advantage of myself and an employer. This can best be accomplished by my input at an executive level position in Finance or Management, where these extensive skills can make an immediate impact to the bottom line of an entity.
EDUCATION
University of Corpus Christi (now Texas A&M- Corpus Christi)
Bachelor of Science, with Major in Business Administration and Minors in
Accounting and Economics, June 1967.
Universidad Nacional Autonoma, Mexico City, Mexico
Completed one semester studies in International Business .
PROFESSIONAL HISTORY AND RESPONSIBILITIES
NorthLake Consulting Company During this period of time I have been involved in Business consulting for several companies, both within the United States, and in Germany. From
November 1992, until February 1993, I was involved with Strategic
Technologies, Inc. In assisting them with a smooth transition of operations
which Strategic purchased from Vericon Systems, Inc. Subsequent to February
1993, and until June, 1994, I was deeply involved with a German Company by
the name of Kraftwerks und Anlagenbau, AG.(KAB) on a consulting assignment
from Kaneb Services, Inc. From June, 1994 until December 1995, I was
involved primarily with Kaneb Services, Inc, in the reorganization of their
German operations. Subsequent to December, 1995 I have been involved
primarily a successor company to certain of the former Kaneb assets, vis a
vis a company known as LeonOchs International, Inc.
Reorganized the operation of a 1200 staff Construction and Engineering
Design Company (KAB), which had been privatized from the German Government.
The company had previously been the construction arm of the Former DDR
combinant which designed, built and commissioned as the conventional and
nuclear power plants in Former East Germany. The market for the products of
this company no longer existed subsequent to the re-unification of the two
Germanies, and therefore the structure and marketing efforts of the Company
no longer served its economy. The reorganization of the structure of the
company reduced the work force by approximately four hundred employees,
redirected the marketing effort from high risk turn-key contracting to
construction of small gas and steam generation facilities, and the demolition of the large and inefficient coal and conventionally fueled power plants.
Started the negotiation with a U.K. company for participation in renovation of Eastern Bloc nuclear power plants, which resulted in a successful joint venture for this business.
Successfully negotiated the effective return of this company to the control of the German government, via a tripartite agreement with the
Treuhandanstalt, Kaneb Services, Inc, and an interim purchaser approved by
the German Minister of Finance. As part and parcel of the transaction, Kaneb was made whole for its purchase price, KAB AG. continued to exist as an entity, and the Treuhandanstalt agreed to bear the losses of the transaction.
Successfully reorganized certain operations of the Furmanite Germany
company to provide for the ultimate segmentation of this company into four
new stand alone entities, which more accurately reflects their business
direction, provides for a more efficient operation, reduced overhead costs
and resulted in a sale of one of the companies to LeonOchs, International,
Inc.
Vericon Systems, Inc. (VSI) VSI was a venture capital startup company which was developed to take
advantage of the beginning industry in "Home Incarceration Programs."
Took over a first design voice verification computer system, which was not reliable in operation, de-bugged both the hardware and software in six
months.
Restructured the sales force, terminated the unsuccessful personnel, and
streamlined the bid process, which resulted in the first contract for
services on a paying basis for the company.
Prepared a marketing plan for the assets of the company which resulted in a sale of the operation assets of the company.
NorthLake Consulting Company General business consulting while seeking other opportunities.
Kaneb Services, Inc. I was the Chief Financial Officer of this multi-national, NYSE corporation during the period of its debt reconstruction process. During this time we restructured over $600 million of secured, unsecured, and other debt, and sold our oil and gas assets, provided an exchange offer on certain Preferred Stock, and began the process of asset redeployment.
Was an integral part of the team which reconstructed over $600 million of
secured, unsecured, and subordinated debenture debts. Negotiated with major
lending banks, leasing companies, subordinated debt holder committees, and
preferred equity holder committees, to resolve the credit and debt needs of
the company without a bankruptcy.
During the period of the debt-payment moratorium of the parent Company,
successfully negotiated a $50 million line of credit for a NYSE traded Master Limited Partnership of which the parent company was the general partner. This provided needed working capital for the partnership which funding was held outside of the parent company debt structure.
Successfully negotiated a $30 million dollar line of credit for the parent company, the proceeds of which were used to finalize the debt reconstruction, and to provide needed working capital for the parent subsequent to the restructure.
Rehm & Goetz, Certified Public Accountants During this time in addition to my duties as managing partner of our firm, I provided tax and business reorganization services to our customers. I was the lead partner in two major ESOP transactions which resulted in the
successful capital and debt restructure of both clients, provided fro the
retirement of old management, and the transition of the new management. The
transaction sizes were in the three to five million dollar range. I
negotiated the debt relations with the banks, and arranged the other
financial structures for both clients.
Dorchester Gas Corporation During this period I was primarily responsible for Local, State and Federal taxation, in the areas of compliance and planning. In addition, I also headed the internal and external auditing functions of the company.
Was a primary part of the team which was responsible for the successful
design and spin-off of a Master Limited partnership of certain gas producing
assets, which partnership exists today. This was a tax-free exchange to the
shareholders, which also included a step-up in basis to the receiving
shareholders thereby deferring large future taxation.
Successfully overcame a $30 million federal tax assessment on a audit for
prior years.
Negotiated with the states of Kansas and Oklahoma, agreements which
provided for a tax to be levied at the Partnership level. The result of
which was to avoid the need for non-resident partners to file individual tax
returns on income related to the Partnership. This had never before been
done and to my knowledge the agreements are still in force some thirteen
years later.
Enserch Corporation Provided Local, State and Federal Excise Tax representation for Enserch
Corporation's Lone Star Gas Company, located in Dallas, TX.
Negotiated a franchise tax exemption for a subsidiary company of Lone Star, and also negotiated a refund of $4 million in franchise taxes which had been paid in prior years.
Frank B. Egan, CPA Teledyne Post
Regional Warehouse Director October 1971 to February 1973
Stokely Van Camp, Inc. Sunray DX Oil Company
Married, Home Owner, Certified Public Accountant, Hot Air
Balloonist, and serve as an Accident Prevention Counselor for the FAA on a
volunteer basis. References provided for interested parties.
President, November 1992 to Present
President, May, 1989 to November, 1992.
President, October, 1988 to May 1989
Senior Vice President-Finance September, 1986 to October 1988.
Managing Partner, May 1984 to September 1986
Director of Taxation and Audit, May 1978 to May 1984
Senior Excise Tax Representative February, 1973 to May, 1978
Staff Accountant February 1972 to February 1973
Regional Warehouse Manager 1968 to 1971
Territorial Sales Representative 1967 to 1968
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