- 40 -
I think Joe Ferraro may have had some experience in his past with
plastics, * * * But I am not sure of that at this point."
Friedman had a vague recollection of the investigation
conducted by the other partners at Shea & Gould. He recalled
that Hirshfield and Trost visited PI, and that Carroll made
inquiries of people in the plastics business. Friedman did not
indicate what, if anything, Ferraro did. He tentatively recalled
receiving reports, perhaps written, that the partners
investigating the Plastics Recycling transactions "had gotten
information that there was a substantial market" for the recycled
pellets. He also testified that certain "members of * * * [Shea
& Gould spoke] to plastics experts who told * * * [them] that
there was a substantial market for the product of these
machines." Friedman could not recall, however, which partners
spoke to these purported experts, or whether the experts
consulted were independent of PI. He testified that the partners
who visited PI (Hirshfield and Trost) "reported to us that they
weren't aware of any other machines that did precisely what this
machine did". In fact, the Sentinel EPE recycler was not unique.
Instead, several machines capable of densifying low density
materials were already on the market. Other plastics recycling
machines available during 1981 ranged in price from $20,000 to
$200,000, including the Foremost Densilator, Nelmor/Weiss
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