Robert Gottsegen - Page 8

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               In the spring of 1981, Grant had a discussion with Miller              
          regarding energy tax credits for recycling equipment.  Sometime             
          after this discussion, petitioner was considering the                       
          installation of energy-saving equipment at one of his companies             
          and contacted Miller to discuss available tax credits.                      
          Petitioner asked Miller whether PI had any equipment that could             
          be used to take advantage of tax credits.                                   
               Miller contacted Bambara to discuss the idea.  Bambara told            
          Miller about a recycler prototype that Bambara thought might be             
          suitable for a venture centering around benefits from tax                   
          credits.  Miller then arranged for an organizational meeting                
          including Miller, Bambara, Grant, petitioner, and Anthony                   
          Giovannone, the executive vice president of PI.                             
               At the organization meeting, Bambara discussed the recycling           
          equipment that PI had developed in response to PI's actual or               
          potential problems with scrap disposal.  Bambara referred to PI's           
          ability to manufacture recyclers, and he mentioned PI's                     
          proprietary interest in the prototype recycler.                             





               3(...continued)                                                        
          a safe-harbor lessor and to satisfy the requirements of sec.                
          168(f).  Ultimately, Freedman reduced his ownership interest in             
          F&G to 9.1 percent, and Grant sold his entire interest.  At some            
          point in time not disclosed in the record, 10 new shareholders              
          were admitted to F&G, including Miller and petitioner.  Miller              
          and petitioner each have a 9.1 percent ownership interest in F&G.           




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