T.C. Memo. 2001-276                                  
                               UNITED STATES TAX COURT                                
               FLINT INDUSTRIES, INC. AND SUBSIDIARIES, Petitioner v.                 
                    COMMISSIONER OF INTERNAL REVENUE, Respondent                      
               Docket No. 10645-97.            Filed October 10, 2001.                
               Mark H. Allen, Kevin L. Kenworthy, and Frances F. Hillsman,            
          for petitioner.                                                             
               David G. Hendricks, for respondent.                                    
                       MEMORANDUM FINDINGS OF FACT AND OPINION                        
               MARVEL, Judge:  Respondent determined the following                    
          deficiencies in the Federal income tax of Flint Industries, Inc.,           
          and subsidiaries:                                                           
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