Fog Cutter Capital Group Inc. Names R. Scott Stevenson as Chief Financial Officer.Business Editors PORTLAND, Ore.--(BUSINESS WIRE)--June 6, 2001 The board of directors of Fog Cutter Capital Group Inc. (Nasdaq:FCCG FCCG Fuel Cell Commercialization Group FCCG Florida Council on Compulsive Gambling, Inc. ), an opportunistic investment group specializing in mortgage and real estate related assets, has named R. Scott Stevenson as senior vice president and chief financial officer. Stevenson replaces Chris Tassos who resigned as executive vice president and chief financial officer in order to pursue other interests. Stevenson has been senior vice president of Fog Cutter since joining the Company in 1999. From 1997 to 1999 he was senior vice president-finance for Wilshire Financial Services Group Inc. (WFSG WFSG Wilshire Financial Services Group, Inc ), where he was responsible for the accounting and investor reporting functions. From 1986 to 1997 he was an officer of Girard Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , FSB (FrontSide Bus) See system bus. FSB - front side bus holding various positions over that period, including chief financial officer, chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. , chief executive officer and director. Girard was acquired by WFSG in 1994. From 1982 to 1986 Stevenson was a tax consultant with the international accounting firm of Touche Ross & Co. He holds a Masters Degree in accounting from Brigham Young University Brigham Young University, at Provo, Utah; Latter-Day Saints; coeducational; opened as an academy in 1875 and became a university in 1903. It is noted for its law and business schools. and is a Certified Public Accountant Certified Public Accountant (CPA) An accountant who has met certain standards, including experience, age, and licensing, and passed exams in a particular state. . Forward Looking Statements The Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 provides a "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " for forward-looking statements so long as those statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those projected in such statements. All of the statements contained in this release, which are not identified as historical, should be considered forward-looking. In connection with certain forward-looking statements contained in this release and those that may be made in the future by or on behalf of the company which are identified as forward-looking, the company notes that there are various factors that could cause actual results to differ materially from those set forth in any such forward-looking statements. Such factors include but are not limited to, the real estate market, the availability of real estate assets at acceptable prices, the availability of financing, interest rates, and European markets. Accordingly, there can be no assurance that the forward-looking statements contained in this release will be realized or that actual results will not be significantly higher or lower. The forward-looking statements have not been audited by, examined by, or subjected to agreed-upon procedures by independent accountants, and no third party has independently verified or reviewed such statements. Readers of this release should consider these facts in evaluating the information contained herein. The inclusion of the forward-looking statements contained in this release should not be regarded as a representation by the company or any other person that the forward-looking statements contained in this release will be achieved. In light of the foregoing, readers of this release are cautioned not to place undue reliance on the forward-looking statements contained herein. |
|
Printer friendly
Cite/link
Email
Feedback
Reader Opinion