O.S.C. & Associates, Inc. d.b.a. Olympic Screen Crafts - Page 3

                                        - 3 -                                         
          secretary and treasurer, and Steven Richter (Mrs. Blazick's                 
          brother) is petitioner's vice president.  Together the three                
          constituted petitioner's board of directors.                                
               Mr. Blazick is a resident of Fremont, California.  He                  
          attended Armstrong College, where he received a bachelor's degree           
          in business management and a master's degree in business                    
          administration.  In January of 1970, while attending college, he            
          purchased a silk-screen printing business.  From 1970 through               
          1972, he and his wife, Janette, conducted the business from their           
          residence.  He had no previous experience in the printing                   
          business but learned quickly.  In 1982, Mr. Blazick incorporated            
          the business under the name "O.S.C. & Associates, Inc."  During             
          the years in issue, Mr. Blazick owned 90 percent of petitioner's            
          stock and Mr. Richter owned 10 percent.  Mr. Blazick expanded the           
          business to include numerous printing processes and other                   
          services.  During the years in issue, petitioner employed between           
          179 and 235 employees, including numerous managerial and                    
          supervisory personnel.                                                      
               Leo Rosi was petitioner's accountant.  Messrs. Rosi and                
          Blazick were classmates at Armstrong College, and in the late               
          1970's, Mr. Blazick became Mr. Rosi's client.  In 1988 or 1989,             
          Mr. Rosi advised Messrs. Blazick and Richter that petitioner                
          should pay dividends.  Their response to Mr. Rosi's advice                  
          discouraged Mr. Rosi from raising the issue in subsequent years.            
          Petitioner has never declared or paid dividends.                            

Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  Next

Last modified: May 25, 2011