- 13 -- 13 -
the general partner has no prior experience in marketing
recycling or similar equipment; (4) the limited partners have no
control over the conduct of the Partnerships' business; (5) there
is no established market for the Sentinel EPE recyclers; (6)
there are no assurances that market prices for virgin resin will
remain at their current costs per pound or that the recycled
pellets will be as marketable as virgin pellets; and (7) certain
potential conflicts of interest exist.
C. Stuart Becker and Steven Leicht
Becker does not have an engineering background, and he is
not an expert in plastics materials or plastics recycling. He
received a B.S. degree in accounting from New York University in
1964 and an M.B.A. in taxation from New York University School of
Business Administration in 1973. He passed the certified public
accountancy test in 1967 and was the winner of the gold medal,
awarded for achieving the highest score on the examination for
that year. Since early 1966, Becker has practiced as a C.P.A.
exclusively in the tax area. From 1964 until 1972 he worked for
the accounting firm of Touche, Ross & Co., and in 1972 he joined
the accounting firm of Richard A. Eisner & Co. as the partner in
charge of the tax department. In 1977, Becker founded Becker Co.
Becker had considerable experience involving tax shelter
transactions before he organized the SAB Recycling Partnerships.
He prepared opinions regarding tax shelters' economic and tax
Page: Previous 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 NextLast modified: May 25, 2011