Funny company. Was a bad real estate company, which would typically buy a restaurant, watch it bleed, and take a loss. Then it changed management and directors in Feb 99.
So then they decide to get out of real estate, and do some kind of internet thing with airplanes. Okay. I hope the real estate guys can do this.
Here are the biographies of the officers & directors, as of April 1 1999, from the proxy:
William B. Astrop (age 69) has served as a director of the Company since
February 5, 1999 when he was appointed by the Board to fill the vacancy
created when Mark A. Conner resigned as a director of the Company. Mr. Astrop
is a Chartered Financial Analyst and the founder and Chairman of Astrop
Advisory Corporation, a money-management firm which he established in 1991.
Mr. Astrop is a member of both the American Stock Exchange and the New York
Stock Exchange and is a member of the Dean's Advisory Board of the Emory
University Graduate Business School.
Joel A. Goldberg (age 25) has served as a director of the Company since
February 10, 1999 when he was appointed by the Board to fill one of the
vacancies created by the resignations of Ben S. Branch and Robert E. Maloney,
Jr. as directors of the Company. From July, 1995, to September, 1997, Mr.
Goldberg was a financial analyst with J.C. Bradford & Co. Mr. Goldberg
currently serves as Director of Finance of Prison Realty Trust and is an
associate with DC Investment Partners, LLC, positions he has held since
September 1997.
C. Beverly Lance (age 37) has served as Chief Executive Officer,
President and a director of the Company since February 10, 1999 when he was
appointed to fill one of the vacancies created by the resignation of Messrs.
Branch and Maloney. From January 8, 1999 to February 10, 1999, Mr. Lance was
President of the Company's Stratos Inns subsidiary which the Company acquired
in connection with its acquisition of PDK Properties, Inc. in January, 1999.
During the five years prior to joining the Company, Mr. Lance managed family
investments and was a business consultant.
Dr. James A. Verbrugge (age 58) has served as a director of the Company
since January 11, 1999 when he was appointed by the Board to fill one of the
vacancies created by the resignations of James A. Preiss and Langdon S.
Flowers, Jr. as directors of the Company. Dr. Verbrugge is a Professor of
Finance and Chairman, Department of Banking and Finance of the University of
Georgia, where he has been employed since 1968. Dr. Verbrugge is also
actively involved in executive education programs at the University of Georgia
and teaches executive education programs at the University of Washington,
University of Florida and University of Colorado.
Arthur G. Weiss (age 59) has served as Chairman of the Board of the
Company since January 21, 1999 and has served as a director since January 11,
1999 when he was appointed to fill one of the vacancies created by the
resignations of James A. Preiss and Langdon S. Flowers, Jr. From January 21,
1999 to February 10, 1999, Mr. Weiss served as President and Chief Executive
Officer of the Company. Prior to assuming his positions at the Company, Mr.
Weiss was the President and a shareholder of West Side Investors, Inc., which
was acquired by the Company in January, 1999. Mr. Weiss is a private real
estate investor. From March, 1993 through April, 1994, Mr. Weiss served as
Chairman of the board of directors of Medical Resources Companies of America.
In addition, Mr. Weiss manages private real estate investments.
There are no family relationships among any of the executive officers or
directors of the Company. No arrangement or understanding exists between any
executive officer or any other person pursuant to which any executive officer
was selected as an executive officer of the Company. Executive officers of the
Company are elected or appointed by the Board and hold office until their
successors are elected or until their death, resignation or removal. |
