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Old 02-26-2011, 10:10 PM
Initiator001 Initiator001 is offline
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Join Date: Mar 2005
Location: San Diego, CA
Posts: 2,394
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For Estes 1990-1991 would see more changes.

The new owners of Estes couldn't make the payments on the money they borrowed to buy the company and Estes ended up being taken over by the banks/creditors.

The effect of AeroTech and it's products was causing Estes to have hobby distributors ask for similar products.

Into this situation comes a new name: Barry Tunick.

The new owners of Estes wanted someone else running the company, someone who would make them lot's money.

I was working at AeroTech at the time when we received a call from Penrose that Buroker and Tunick wanted to come and discuss a possible business deal with AeroTech. Comments indicated it could mean anything from AeroTech making composite motors for Estes, Estes buying AeroTech or even AeroTech running Estes.

There was quite a bit of curiosity about what Buroker and Tunick would be discussing. They showed up on a weekday afternoon (I don't remember what day it was) and went into the meeting room with the AeroTech owners.

After an hour or so, Buroker and Tunick left. The meeting had resulted in nothing. It turns out Estes was interested in buying AeroTech but wanted AeroTech to name a 'price'. AeroTech wanted to know what Estes was offering. Buroker and Tunick declined to name a price and insisted AeroTech name an amount. This resulted in a stalemate and ended any chance of joint efforts by both companies.

UPDATE (09-10-2023). I learned a few years ago that at this meeting Buroker and Tunick wanted AeroTech to join Estes in crushing Quest. The AeroTech management declined.

(To be continued)
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