- 28 -
available testimony gives rise to the inference that it would
have been unfavorable to his contention. Accordingly, we review
Becker’s testimony in the Jaroff case below and consider the
extent of his expertise and the likelihood that he gave special
assurances or guarantees to petitioner.
Becker had no education, special qualifications, or
professional skills in plastics engineering, plastics recycling,
or plastics materials. In evaluating the Plastics Recycling
transactions and organizing the SAB recycling partnerships,
Becker supposedly relied upon: (1) The memorandum and the
accompanying materials; (2) a tour of the PI facility in Hyannis;
(3) discussions with insiders to the transactions; (4) Michael
Canno (Canno), a client of Becker Co.; and (5) his investigation
of the reputation and background of PI and persons involved in
the transactions.
Despite his lack of knowledge regarding the product, the
target market, and the technical aspects at the heart of the
Plastics Recycling transactions, Becker did not hire an expert in
plastics materials or plastics recycling. The only independent
person having any connection with the plastics industry with whom
Becker spoke was Canno. Canno was part owner and the production
manager of Equitable Bag Co., a manufacturer of paper and plastic
bags. Becker spoke to Canno about the recyclers and PI, but he
did not hire or pay him for any advice. Canno did not visit the
Page: Previous 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 NextLast modified: May 25, 2011