http://cincinnati.bizjournals.com/ci...ml?t=printable
"Problems started to arise a few years after the company went public in December 1983, which was a "bad idea," said Greg Blair, president of Escort Inc., another spinoff company, and former CMI vice president of operations.
In that initial public offering, CMI sold nearly 1.9 million shares at $7.62 per share, drumming up $13 million in cash. Most of that went to pay off debt in the form of a loan used to buy out shares owned by Mike Valentine, according to the company's 1985 annual report. Valentine and his father had founded the firm in 1976."
"Valentine sold his stock for $24 million to Jaeger in 1983. He now owns Valentine Research Inc. in Blue Ash and makes radar detectors. Valentine, through a spokesman, declined to comment for this story. "
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