David Taylor Enterprises, Inc. & Subsidiaries - Page 3

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          Arthur, Texas.  From 1975 until his untimely death in 1997, Mr.             
          Taylor was a car dealer and engaged in the trade or business of             
          selling cars.  Mr. Taylor was also a member of the Houston Auto             
          Dealers Association, the Texas Auto Dealers Association, and the            
          National Auto Dealers Association.                                          
               In 1974, Mr. Taylor sold a Buick Dealership in Beaumont,               
          Texas, and a year later acquired the right from General Motors to           
          open a Cadillac dealership in Houston, Texas, known as David                
          Taylor Cadillac (the dealership).  The dealership was one of the            
          largest Cadillac dealers in the world, and was, at the time of              
          trial, a subsidiary of petitioner.  The dealership is the main              
          focus of our case.                                                          
               The dealership owned new, used, and classic cars.  The new             
          and used cars were located in Houston, Texas, while the classic             
          cars were located in Galveston, Texas.                                      
          Classic Cars                                                                
               The dealership began to acquire classic cars in 1979.4                 
          Initially, the dealership purchased a 1931 Cadillac Roadster for            
          $40,000.  The dealership then purchased two classic cars in the             
          mid-1980s, a 1934 Ford Roadster and a 1932 Ford Victoria, that              
          came as kits and required assemblage.  After the initial                    
          purchases, the dealership acquired additional classic cars,                 

               4Classic cars are cars whose model year is generally 1970 or           
          before.  The dealership applied for exhibition license plates for           
          its classic cars, indicating the cars were at least 25 years old.           

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Last modified: May 25, 2011