William and Joan Spears - Page 17

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          offering memoranda.  He has no education or expertise in plastics           
          materials or plastics recycling.                                            
               Tucker did not testify at trial.  However, Spears submitted            
          two memoranda written by Tucker and addressed to Becker relating            
          to the Plastics Recycling transactions.  One memorandum, dated              
          November 12, 1981, is an evaluation of the financial projections            
          for SAB Leasing Associates (SAB Leasing).  Tucker checked all of            
          the computations in the financial projections prepared by the               
          management of PI for SAB Leasing, and created several additional            
          schedules using variable inflation rates and royalty rates.  The            
          second memorandum, dated September 24, 1982, briefly describes a            
          visit with Becker to PI and contains two additional schedules               
          using variable numbers.                                                     
               After the 1981 SAB recycling partnerships closed, Becker had           
          an accountant sent to PI to confirm, by serial number, that as of           
          December 31, 1981, the equipment that was leased to the 1981 SAB            
          recycling partnerships was indeed available for use.  Becker                
          arranged for this verification, independent of PI, because he               
          understood that the investment tax and business energy credits              
          would not be available if the qualifying property was not                   
          available for use.                                                          











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