The sale to Butler America is subject to higher and better offers. Butler has requested the Court approve certain bidding procedures designed to achieve the highest value for its stakeholders and to create a strong, vital company for its customers.
Ronald Uyematsu, Chief Executive Officer of Butler International, commented, "We are very pleased to have reached this important step in resolving the future of Butler International. In these challenging economic conditions, we believe that a transaction based on the agreement will enable our core business to continue and strengthen the financial condition of our business. We will need the continued support of all of our lenders and other stakeholders as we move forward with the challenges of closing this or any alternative transaction."
"We are extremely grateful to those who have remained loyal to us through the challenges we have faced; our customers who have continued to utilize our services, our suppliers who have continued to work with us, and our dedicated and talented employees who provide the value that made this agreement possible. We are confident the new owners will appreciate the value of our customers, suppliers and employees, which is not reflected on our balance sheet."
D. Stephen Sorensen, President of Butler America, stated, "The reputation for providing high quality engineering services and qualified professionals built by Butler International over a period exceeding sixty years will continue under the ownership of the business by Butler America, and without the more recent distractions caused by the unfortunate combination of a difficult economic environment and a leveraged balance sheet
. Butler America will provide the necessary resources to ensure continuity of high quality services, and the liquidity necessary so that we may expand in accordance with the needs of our customers
Butler International, Inc. was an engineering services and employment agency based in Fort Lauderdale, Florida. With roots dating back to 1946, the company provided on-site and off-site engineering services to its clients, which include companies in the aerospace, communications, commercial, defense and manufacturing sectors.[1] In 2009, the company filed for Chapter 11 Bankruptcy, and Butler America, LLC agreed to acquire all of the remaining assets of Butler International for $27 million.[2]
much more to come theres alot more to uncover ... this is basics
But i cant find anything with him to do with Butler..
]D. Stephen Sorensen, Steve serves as Chairman of the Board and Chief Executive Officer of Westaff, Inc. Mr. Sorensen serves as Chairman of the Board and Chief Executive Officer of RemedyTemp, Inc. and Eastern Staffing, LLC (formerly Select StaffingSM, SelectRemedy Inc. and Select Personnel Services, Inc.). He oversees the financial management, retail and operational aspects, and acquisitions of SelectRemedy. He served as Chairman of the Board and Chief Executive Officer ... of The Select Family of Staffing Companies (The Select Family of Staffing). He served as the President of Select StaffingSM until 2007 and was the driving force behind the rapid growth and continued success of Select Staffing. During those years, he worked hard to establish a strong sales culture and decentralized operational accountability. Mr. Sorensen has built an elite, multi-faceted management team of staffing industry professionals. At SelectRemedy, Inc., he served as Corporate Manager, Branch Manager, Regional Manager, and Vice President. Prior to joining Select Staffing in 1987, he acquired over 10 years of experience in the financial and banking industries as a Tax Consultant and an accountant for Arthur Andersen & Company, a Venture Capital Analyst for Golder Thoma Cressey Rauner, and a Junior Banker Loan Officer at the Mark Twain Bank. Mr. Sorensen's acute financial expertise has benefited SelectRemedy in the acquisition arena. He served a mission for church to Tokyo, Japan from 1979 to 1981. Mr. Sorensen's educational background includes a B.S. degree in Accounting from Brigham Young University in 1983 and an M.B.A. degree in Finance from the University of Chicago in 1986.
But the IT say this :
Eastern Staffing, LLC, doing business as Select Staffing, Inc., provides staffing and employment services. The company offers workforce, performance, order and billing, and risk management services. Eastern Staffing, LLC was formerly known as SelectRemedy, Inc. and changed its name in 2007. The company was founded in 1985 and is based in Santa Barbara, California.
