Word: stembler
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...Lance could use a new high-paying job-and there is one for the asking. NBG Chairman John Stembler, a construction company president, says that Lance could have a post "tomorrow if he wants...
...Lance promised the Senate committee that, with minor reservations, he would "sever all connections with my present employers, business firms, business associations and business organizations"-presumably including the Georgia bank. Yet on March 29, Lance met in his OMB office with John Stembler, board chairman of the National Bank of Georgia, and Robert Guyton, then being wooed-successfully-to be the N.B.G.'s new president. Lance's explanation is that he "very specifically" had the right to talk about the N.B.G. "with regard to stock and management" until the Dec. 31 divestiture date. A Lance spokesman said that...
...Georgia, of which he was president before going to OMB. He had borrowed heavily to buy 164,228 shares of that stock in June 1975. He had paid $17.74 per share, or $2.9 million, as part of a move with two partners-Pattillo, a construction company president, and John Stembler, a Georgia movie-theater chain owner-to gain majority control of the bank. Lance's entrepreneurial acumen helped to almost double the bank's assets. However, the prospect of his large block of stock going on sale, plus his own departure and the bank's falling profits...
...that he had been on National Airlines' side and had talked to Mack about the bitterly fought case. ¶In 1953 Whiteside gave Mack, then a member of the Florida Railroad and Public Utilities Commission, a one-sixth interest in an insurance agency. Later, under the firm name Stembler-Shelden, it sold an insurance policy (premium: $20,000) to the National Airlines' TV subsidiary. There were no written records of Mack's interest in the agency, said Whiteside. It was all done by "orally declared trust . . . We in the firm understood that when Mr. Mack...
Having given Mack his say, the subcommittee began boring in. What had he ever done to justify his share in the Stembler-Shelden Insurance Agency? Well, as a member of the Florida Railroad and Public Utilities Commission he had given the company a commission list of bus and truck carriers that might be interested in buying insurance. Did Mack not think it was at least indiscreet to accept an interest in Stembler-Shelden while a member of the Florida commission? The remarkable reply: "Well, I do not know. If Mr. Whiteside had given me $20,000 on which he paid...