Haffner's Service Stations, Inc. - Page 5




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          and the home heating oil business.  John and Emma’s family                  
          (Haffner/Fournier family) also owns other entities in addition to           
          petitioner.  The operating entities include petitioner, Haffner’s           
          Car Care (HCC), and Parker Fuel Corp. (Parker).  HCC operates the           
          car washes and vacuum cleaners located at some of petitioner’s              
          stations.  Parker sells to petitioner, its only customer, all of            
          the gasoline and home heating oil for resale to consumers.  All             
          three of these operating entities share employees.  These labor             
          cost are paid by petitioner and apportioned among these three               
          operating entities by way of bookkeeping entries posted in                  
          intercompany accounts.                                                      
               John and Emma’s family also owns certain nonoperating                  
          entities.  The nonoperating entities include Haffner Realty Trust           
          (Haffner Realty), Fournier Realty Trust (Fournier Realty), and              
          EMLO Realty Trust (EMLO Realty).  Each of these three                       
          nonoperating entities was formed to hold properties transferred             
          to it by the principals of the three operating entities mentioned           
          above.                                                                      
               In its early years, petitioner had one class of stock.  Four           
          hundred and fifty shares of that stock were outstanding, and                
          those shares were owned one-third each by John, Emma, and Louise,           
          their only child.  In 1949, John transferred 76 of his shares to            
          Louise.  Afterwards, Louise owned 226 shares, John owned 74                 
          shares, and Emma owned the remaining 150 shares.                            






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Last modified: May 25, 2011