- 17 - 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.Page: Previous 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Next
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