Richard E. and Mary Ann Hurst - Page 4

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          changed.1  The firm grew quickly, and after five years it had               
          about 15 employees; by 1997, it had 45 employees and over $4                
          million in annual revenue.                                                  
               After leaving the Hursts’ home, HMI moved to a converted               
          gas station, and then to a building in Comstock Park, Michigan.             
          When the State of Michigan bought the Comstock Park building in             
          the mid-1990s, the company moved again to Belmont, Michigan, in a           
          building on Safety Drive.  The Hursts bought this building in               
          their own names and leased it to HMI.  In early 1994, the Hursts            
          bought another HVAC business, Refrigerator Man, Inc., which they            
          renamed R.H., Inc. (RHI).  Each of the Hursts owned half of RHI’s           
               In 1996, with HMI doing well and settled into a stable                 
          location, the Hursts began thinking about retirement.  Three                
          employees had become central to the business and were to become             
          important to their retirement plans.  One was Todd Hurst, who had           
          grown up learning the HVAC trade from his parents.  The second              
          was Thomas Tuori.  Tuori was hired in the mid-1980s to help Mary            
          Ann Hurst manage HMI’s accounting, and by 1997 he was the chief             
          financial officer of the corporation.  The last of the three was            
          Scott Dixon, brought on in 1996, after Richard Hurst came to                
          believe that HMI was big enough to need a sales manager.  Dixon             

               1  All references to sections and the Code are to the                  
          Internal Revenue Code in effect for 1997, unless otherwise noted.           

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