- 4 - C. Damian’s Business History In 1992, Damian began employment with First Capitol Printing Arts, Inc. (First Capitol), a print shop that produces short-run, two-color prints. By June 1993, he had acquired one-third of the First Capitol stock and was sales manager. By July 1994, he had become president of First Capitol. In September 1994, he became sole owner of First Capitol. Before the soon-to-be-described events of June 1993, Damian would visit Maritz Inc. each day and “walk the halls”, soliciting jobs to bid on. Typically, he would bid on one to three Maritz Inc. jobs per week. First Capitol had no written contract to provide services to Maritz Inc.; Damian got work from Maritz Inc. only if he had the low bid. In the first half of 1993, Damian successfully solicited about $10,000 of business from Maritz Inc., representing less than 2 percent of First Capitol’s 1993 gross receipts. D. Shareholder Dispute In 1992, a dispute arose between Bill Maritz and his sister Jean regarding the family business. Negotiations commenced for Maritz Inc. to redeem the Hobler family voting shares. The parties sharply disagreed on the redemption price. On June 25, 1993, Kenneth Suelthaus (Suelthaus), the attorney representing the Hobler family, met with Millard Backerman (Backerman), the attorney representing Maritz Inc. Suelthaus presented aPage: 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