- 3 -
During 1990, Mr. Edmund J. Cordes was
petitioner's president. He oversaw all of petitioner's
activities.
His education included high school and 2 years of college.
He had studied accounting and business law in college and
had received instruction in accounting while serving in the
military.
During 1990, Mr. Cordes owned or controlled, directly
or indirectly, all of the stock of petitioner and four
other corporations: Cordes Building Corp., Edmund Cordes,
Inc., John Cordes, Inc., and Eddie Cordes, Inc. These
corporations were engaged in the business of selling and
financing the sale of automobiles, except for Cordes
Building Corp., which was engaged in the business of buying
real property and constructing buildings for rental.
During 1990, petitioner's stock was owned by Mr. Cordes'
wife, daughter, and son as follows:
Owner Shares
June J. Cordes 334
Jean Ann Cordes Rigby 333
Johnny J. Cordes 333
Total 1,000
Mr. Cordes' automobile dealerships referred their
customers to petitioner to provide financing for the
purchase of automobiles. If the customer was credit-
Page: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011