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purchase price shall be made by the certified public
accountants regularly retained by the Corporation.
By late 1977, Schnitzer-PMS's property management business
had increased substantially. Although Prudential had declined
Schnitzer's offer to give Prudential an interest in Schnitzer-
PMS, Prudential became Schnitzer-PMS's biggest customer.
Pursuant to Schnitzer's discussions with Prudential's management
and corporate headquarters staff in 1974, Schnitzer-PMS
standardized its reports on the Prudential commercial real
properties that Schnitzer-PMS managed. By 1977, Schnitzer-PMS
had expanded its property management operations to other cities
around the country, including Atlanta, Georgia, Los Angeles and
San Francisco, California, Newark, New Jersey, and Portland,
Oregon.
Schnitzer-PMS year-end balance sheets and profit/loss
statements for 1976 through 1978 showed the following:
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