David M. Boucher and McFadden Brothers Acquire Smith System.Business Editors ARLINGTON, Texas--(BUSINESS WIRE)--April 29, 2003 Smith System(R), the industry leader in professional driver training, announced today that it had been acquired by David M. Boucher and McFadden Brothers The Mcfadden Brothers (American entertainers) are: Lonnie McFadden - trumpet, voice, tap dancing and Ronald McFadden - alto saxophone, voice, tap dancing. Born in Kansas City, MO, the McFadden Brothers are the sons of the late James "Jimmy" McFadden, a well known tap dancer who taught , a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of City-based investment firm. Boucher, who acts as chairman of McFadden Brothers' other operating companies operating company A business that engages in transactions with outsiders. that include Cryogenic Transportation and Easton Coach Company, will also act as chairman of Smith System. Smith System was purchased from CNA Financial CNA Financial Corporation (NYSE: CNA) is a financial corporation based in Chicago, Illinois, United States, and noted for its 600 foot tall red headquarters building there. Its principal subsidiary, Continental Casualty Company (CCC) was founded in 1897. Corp. The company will continue its operations at its headquarters in Arlington, Texas Arlington is a city in Tarrant County, Texas (USA) within the Dallas-Fort Worth-Arlington metropolitan area. According to a U.S Census Bureau release, as of July 1, 2006 Arlington has an estimated population of 367,197. . Smith's management team will be led by Tony Douglas, who will act as president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "As the recognized leader in driver improvement training, Smith System has sustained a rich history of success thanks to the contributions of its employees and customers," said Douglas. "My first exposure to Smith System was as a courier trainee with Federal Express in 1981. Since then I have put the Smith System to work in many companies with outstanding results. I believe in the Smith System philosophy and the positive impact our products have on corporations and individuals." Smith System was founded in 1952 as the nation's first fleet driver safety training organization with on-road, hands-on safety education techniques for experienced drivers. Smith System delivers behind the wheel instruction to more than 15,000 fleet drivers each year and has presented their program in 47 countries. "We are very pleased that Smith System has become one of our portfolio companies," said Boucher, chairman. "We are committed to supporting the continuous improvement of products and services, employing the latest technology in driver improvement, and providing the value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. training and support materials that customers have come to expect from Smith System." McFadden Brothers has other interests in transportation-related companies, including Cryogenic Transportation Inc., a Houston-based trucking company specializing in the carriage of industrial gases; and Easton Coach Company, an Easton, Pa.-based passenger transportation company. |
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