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At the time Ulanoff prepared the report, he was a professor
of marketing at Baruch College. Ulanoff is also the author of
numerous books on technical and marketing subjects. His report
covered the marketing value and potential of the recyclers and
expressed the conclusion that the sales price paid by F&G for the
recyclers and the rental payment made by Clearwater were fair and
reasonable. His conclusion allegedly was based on his personal
observation of the Sentinel EPE recycler prototype during a visit
to PI, discussions with PI employees, the needs of the plastics
industry, and his analysis of the economic projections provided
in the offering memorandum.
Burstein was an associate professor of mathematics at New
York University. Allegedly based on his visit to PI, discussions
with PI personnel, an evaluation of the technical value of the
recycler, the recycler's history of performance, and information
concerning the use of recycled polyethylene as a raw material,
Burstein concluded that the Sentinel EPE recycler was capable of
recycling on a continuous basis.
The offering memorandum represented that the Sentinel
recyclers were unique machines. However, they were not. Several
machines capable of densifying low density materials were already
on the market in 1981. Other plastics recycling machines
available at that time ranged in price from $20,000 to $200,000,
including the Foremost “Densilator", the Nelmor/Weiss
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