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Year Amount
1993 $9,108,625
1994 10,552,652
1995 11,355,749
1998 13,000,000
II. Operations
Mr. Damron upgraded petitioner’s business from a basic
salvage yard to a modern state-of-the-art showroom. Under his
leadership, petitioner purchased wrecked cars from insurance
companies and auctions, dismantled the cars, tested and cleaned
the parts, indexed the parts in a computer data base, and shelved
the parts for sale. Thus, the parts could be sold to customers
without employees’ scavenging the salvage yard.
From 1984 through 1995, Mr. Damron typically worked 90 to
100 hours per week, did not go out for lunch, and took only three
vacations of a few days each. Mr. Damron attended the auctions,
purchased wrecked cars, priced all the parts, determined when to
crush dismantled vehicles, arranged the sale of crushed hulks,
negotiated with vendors, reviewed accounts receivable and
payable, and designed petitioner’s facility.
During the years in issue, petitioner had 40 to 60
employees. Mr. Damron interviewed, hired, evaluated, and
terminated the employees; trained and supervised the dismantlers;
and was responsible for employee benefits, health plans, bonuses,
workers’ compensation, insurance, employee safety, and hazardous
waste disposal.
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Last modified: May 25, 2011