- 5 - C. James Merriam’s Business Activities 1. James Merriam’s Early Businesses In the late 1960s and 1970s, James Merriam started the Sir Speedy Printing Centers franchise business and other franchise businesses. In the early 1980s, he started Texas State Video Co., which he envisioned would become a nationwide video rental franchise business. James Merriam raised about $2 million in a stock offering relating to the video franchise company. 2. James Merriam’s Offices, Office Staff, and Procedures James Merriam had offices at the Tiburon residence and at other locations. He had numerous corporations and bank accounts. James Merriam and members of his office staff received and sorted mail delivered to the Tiburon residence. James Merriam gave petitioner mail not related to his businesses or taxes. James Merriam told his staff not to give petitioner any information about his businesses. 3. Napa Ted Merriam incorporated Merriam Investment Corp. (MIC) in Colorado in 1983 and was its registered agent. MIC was Napa’s predecessor. Initially, the members of the MIC board of directors were James Merriam, Ted Merriam, and petitioner. James and Ted Merriam resigned as directors shortly after MIC was incorporated and before MIC changed its name to Napa. Thereafter, petitioner was the president, sole shareholder, andPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 Next
Last modified: May 25, 2011