- 7 - the Sentinel EPE recyclers considered in this case are the same type of machines considered in Provizer. The fair market value of a Sentinel EPE recycler in 1981 was not in excess of $50,000. PI allegedly sublicensed the recyclers to entities that would use them to recycle plastic scrap. The sublicense agreements provided that the end-users would transfer to PI 100 percent of the recycled scrap in exchange for a payment from FMEC Corp. based on the quality and amount of recycled scrap. Petitioner is a sophisticated and very successful businessman, entrepreneur, and investor. After graduating from high school, petitioner attended Patterson Junior College for 1 year, and then the City College of New York for approximately 3 years at night. Petitioner pursued a major in philosophy and received 2 years' worth of credits for the night classes. Petitioner started working at age 9, delivering newspapers out of his father's general store. Petitioner later employed others to deliver newspapers and also sold food and merchandise from his father's general store to his newspaper customers. Petitioner continued his newspaper delivery and merchandising business until he married at age 18. Then he started a business selling hosiery by telephone. Petitioner prospered in the hosiery telemarketing business and soon began manufacturing hosiery as well. That business was expanded to include manufacturing knitwear, as well as hosiery. Eventually, this business involved importing, manufacturing, and selling on a national basis. In time, petitioner sold thatPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011