- 6 - revenues in 1990 were derived from these activities. It also is engaged in training of employees of BI's clients, and from this activity derived approximately 10 percent of its revenues in 1990. BI was also engaged in measurement of the efforts by the client firms to satisfy their customers, and approximately 15 percent of its revenues in 1990 came from this activity. BI was not engaged in the business of advertising or placing for clients advertisements in newspapers, in magazines, on television, or on radio. Advertising agencies were not primary competitors of BI. In connection with its incentives award and travel program, BI arranges for the certificates or the stamps for the clients, arranges the availability of the merchandise or the travel, and generally handles the work in connection with the program. BI attempts to have a 50-percent markup on merchandise used to redeem certificates, but this target is not often received on large volume. BI also attempts to make a profit by obtaining a discount on the travel provided for certificates. In addition, it very often receives the normal travel commission for transportation and hotel sales. Mr. Schoenecker grew up in a small town in rural Minnesota. He attended the University of St. Thomas in St. Paul, Minnesota, where he received a degree in political science in 1949. He then attended the University of Minnesota Law School for a time. While still in college, Mr. Schoenecker became interested andPage: 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