Thursday, March 13, 2008

F&S Oil management

Reported by the NHRs Luther Turmelle:

A month before F&S Oil shut its doors and left 12,000 customers scrambling for a new home heating fuels supplier, the president and chief executive officer of the company was fired by the Middlebury man who owns the business, an attorney (Timothy Moynahan) for the owner said Tuesday....

“(Chris) Carr was hired to run the company early in the decade, and Mr. Stevens was an absentee owner from that point on,” Moynahan said. “He (Stevens) relied completely on Carr, and for a number of years, that confidence was validated. The results were good.”...

Stevens is listed as owner of the bio-fuels plant at 265 Sandbank Road in Cheshire, according to loan documents with the state Department of Economic and Community Development. The state agency gave F&S a $200,000 loan in December, the terms of which call for repayment over a 10-year period at an interest rate of 3 percent.


Tim White

7 comments:

Anonymous said...

I thought George Bowman was involved with the biofuel plant.

This was on the April blog and referred to a WRA article.

From the Blog

The WRA had a photo with the article. Included in the photo was George Bowman, if I recall correctly. I believe it indicated that he's the (part??) owner.

Anonymous said...

The following is from the article


http://callcenterinfo.tmcnet.com/news/2008/03/11/3319158.htm

The following is an excerpt from a 3/11/2008 NHR article, link above


The corporate entity -- Cheshire Investment Corp. -- that owns the land that the biofuel plant sits on includes James Bowman and Paul Bowman, who are Edward Bowman's brothers. Speaking prior to Planning and Zoning Commission hearing on plans to install two storage tanks, a cooling tower and a generator at the plant, Paul Bowman said he does not know who the owners of the biofuels company are.

He doesn't know who the owners are????????????????? Give me a break.

Anonymous said...

Don't leave Citizens Bank out of this. The head of the CT Petroleum Assoc. was on the radio saying he was negotiating with them up until Friday afternoon to give Stevens over the weekend to complete a deal to sell the firms, but they now controlled the F&S checkbook and basically demanded the doors be closed that evening

Anonymous said...

Many things happen behind LLC'S and CORPORATIONS. When deals are signed people should investigate that includes the Town of Cheshire. Be careful because they could go out of business as quickly as they are formed..

Anonymous said...

I've never followed it, but... I think in recent years there have have been CT legislators introducing bills that would "pierce the veil" of LLCs.

It never passes, but you may be interested in investigating further.

Anonymous said...

Did Cheshire lose any monbey because of F&S going out of business?

Anonymous said...

what ever happened to the comments from anonymous about the history of the pool. I would like to see where this was going. Please comment on where I can find this info. thanks anonymous for now