Page 81 - Gary's Book - Final Copy 7.9.2017_Active

One year during the good times, my salary was $96,000 with a $25,000 bonus. The
new product development was a major thrust, and the European market was
pushing for its share of the action. In addition, communications and information
technology (IT) was rapidly advancing from analog to digital. To meet the new

technology requirements was going to require millions of dollars, which we did not
have. We had experienced indebtedness in the prior years to the point that on
paydays, Henry had to personally cash in certificates, and I often went without pay.
Sue accepted and supported me, as usual, through these off-the-road
circumstances.

The next step was to seek a business partner in Europe. TEC International had all
the business acumen; it just needed cash, because cash was king. Henry located a

financier in the UK who had a friend and former business partner in Orange
County, California. We needed $25M to $50M to leap into the big leagues. I
created a $50,000 brochure describing and promoting TEC International. We
secured about $45M. TEC International, being a rather homespun business with a
manufacturing plant and having basic beige, plain-Jane offices and no major store
front, was not appropriate for this Brit. He decided that we were not only going to

provide the hardware and software; we were going to become a telephone
company like the Bell system and provide telephone service. We were on our way
to becoming the next Bell system.

We immediately opened an impressive office in Newport Beach, California, with
the best of furnishings, multiple secretaries, company cars, 25 telephone operators
and showplace conference rooms for prospective customers to be informed and

entertained. We purchased the best silverware and crystal and had lunches catered.
The top three executives (I was fourth in line), had tailors come to the office to fit
their new suits and attire. We were at the top! The penalty was that we worked
twelve to fourteen-hour days. I was the president/CEO in charge of key day-to-day
operations charged with implementing and executing all their horrendous plans of

action, which meant totally reorganizing TEC International and the management. I
received large salary and bonus increases. My other duties were spent interviewing
new technical, sales and administrative candidates and drafting contracts and
agreements with our company attorney.

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