7
Alondra employs between 175 and 200 persons. Edco has three
employees. Pertinax employs approximately 6 executives
(including Mr. Munro and Ms. Ross), 2 to 3 managers, a sales
employee, and 20-plus clerical personnel as support staff.
In 1970, when Mr. Munro was in his midsixties, he had
approximately 30 years of business experience in banking and
finance that included employment with Security Bank, Security
Pacific Bank, the Bank of Pasadena, and Wells Fargo Bank. He
first became acquainted with UCIC while he was employed at Wells
Fargo, when the then owner of UCIC asked him for advice. In
September 1970, when Mr. Munro retired from Wells Fargo, UCIC
hired him as an adviser. Later, about 1972, Mr. Munro acquired
ownership of UCIC5 and was its sole shareholder from about 1972
through 1987. In 1972, Alondra was a newly organized but
inactive corporation, and UCIC did all the insulation work of the
complex later made up of Alondra, UCIC, Edco, and Pertinax.
David Lee Clearman (Mr. Clearman) joined UCIC at Mr. Munro's
invitation in spring 1975, working as assistant to the president.
After some 2 years at UCIC, Mr. Clearman became president of
Alondra, which was just then beginning active operations.
Prior to beginning employment with UCIC and its affiliates
in 1975, Mr. Clearman worked for Wells Fargo Bank, where he had
5The record does not indicate whether UCII existed at that
time or how and when UCIC became a wholly owned subsidiary of
UCII.
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