- 4 - During his final semester at Colorado State University, petitioner worked part time for George Moore Construction earning between $6 and $7 per hour. Petitioner acquired first-hand knowledge of the need for residential construction services and believed he could earn more money by operating his own construction business. During 1992, when petitioner was approximately 24 years old, his father lent him approximately $500 to $600 to start a construction business, under the name K&L Exteriors Trim (K&L Exteriors). K&L Exteriors began with two to three employees, and business was generated by word of mouth or by petitioner’s contacts with other contractors at job sites. K&L Exteriors did not maintain any inventory, and its business consisted of providing services in the form of labor. During 1993, petitioner organized a corporation called Four Square Construction, Inc. (Four Square), for the sole purpose of providing payroll services for K&L Exteriors. K&L would transfer funds to Four Square each month, and then Four Square would distribute the funds to the employees. Petitioner did not have the business acumen to manage the administrative side of the business. Petitioner managed and performed the construction services, and he relied on his father to manage the administrative matters, including the bookkeeping. Petitioner trusted his father and was aware of his father’s prior experience in administrative business matters, including hisPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 Next
Last modified: May 25, 2011