Word: stembler
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Dates: during 1970-1979
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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...