Foretravel, Inc. - Page 6

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            dealership); and Foretravel of Texas, Inc. (the Texas                                          
            dealership), which apparently included two separate dealerships,                               
            one located in Dallas and the other located in Nacogdoches.  We                                
            refer to the dealers collectively as subsidiaries or dealerships.                              
            Moore served as president of the subsidiaries and the Arizona                                  
            dealership.  IIG owned the dealerships' stock because petitioner                               
            wished to avoid the appearance that it sold its coaches through                                
            factory-owned dealers.  IIG and the subsidiaries filed                                         
            consolidated returns in 1989 based on a December 31 calendar                                   
            year.  In 1990, IIG was liquidated, and petitioner acquired the                                
            dealerships' stock.  The subsidiaries filed separate returns in                                
            1990 based on a calendar year ending December 31.                                              
            The Pacific Northwest Dealership                                                               
                  In 1980, Walter P. Nicholson (Nicholson) and William H.                                  
            Fishfader (Fishfader) became partners in a Toyota agency in Coeur                              
            d'Alene, Idaho, where they sold motor homes, recreational                                      
            vehicles, and automobiles.  In 1983, they decided to sell                                      
            recreational vehicles full time and became interested in the                                   
            Foretravel product line.  They contacted a Foretravel                                          
            representative on the West coast and eventually signed a dealer                                
            agreement with Foretravel on August 15, 1983, that enabled them                                
            to be the exclusive dealer of Foretravel products for a 5-year                                 
            period in Idaho, Montana, Oregon, and Washington.  Pursuant to                                 
            the agreement, Fishfader and Nicholson also could sell less                                    






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