Richard Painter

** ********* *****

Racine, WI **402

Phone: 262/681-0614

BUSINESS OBJECTIVE: A self-motivated professional seeking a job in finance

with a progressive and growing organization.

EMPLOYMENT HISTORY

A & E Incorporated - Corporate Controller Nov., 1984 -

Sep 2003

P.O. Box 1616 - Director of Information Systems Sep., 2003 - Mar

2009

8800 Washington Avenue

Racine, WI 53401

Hired to run a 3-person department supporting 6 million in sales. At that

time the books were not closed for the prior fiscal year nor for the first

four months following year-end. Under my direction, the company took on

new changes; implemented a new integrated ERP software system and focused

on a teamwork approach. Four acquisitions later, the department grew to 5

people, and supported sales of 26 million from three plants. This required

3 sales division P&L's, 3 subsidiary P&L's, and one unconsolidated

corporate P&L each month.

I convinced the Board of Directors to invest annually, in excess of

depreciation, into purchasing newer cost saving equipment. I instituted a

company departmental budget plan, which led to a 5-year strategic plan.

This enabled the organization to forecast sales and control costs resulting

in a change in gross margin from 25% to over 30% and changed inventory days

from 120 to 75. All financial institutions involved with A&E comment on

how sophisticated we are for a company our size.

Besides capital equipment and LBO payments, the company had an annual $400K

IRB payment. I made these payments on a timely basis while keeping the

vendors content and insuring company purchases arrived on time. For the

capital items, which were too large for our cash flow, I recommended and

obtained operating leases.

I purchased all corporate insurance and recommended changes in employee

benefits at a cost savings to the corporation. Held the position of

company representative on the Board of Directors of The Benefit Alliance;

an indirect health insurance provider, which helped control member's health

insurance costs and community medical provider costs.

In addition to the accounting area, I supervised the Information

Technologies department for 20 years. Major software improvements I

implemented reduced by 50%, the time it took to book AP invoices vs.

standard software. Fifty-two days per year were saved in attendance

tracking and payroll processing. One day (lead time) per order was saved

by creating shop work orders direct from sales orders; this eliminated one

production planner. I was also involved in EDI, Bar-Coding and Electronic

Filing.

EMPLOYMENT HISTORY (Cont.)

In 2003 the Presidents son wanted my job as Controller so I devoted my self

full time to Information Technologies and being the presidents special

projects assistant. I reduced by 2/3 the amount of time required to receive

product into the computer system. Started a inventory location system,

Reduced by 100% the manpower required to produce finish product bar codes,

Organized the in-process inventory of one plant and put in place procedures

to maintain same, Got another plant to purchase more storage racks and

organized the inventory to get it up off the floor and into the inventory

location system, Reduced by 60% third party storage costs, Found and

converted during a 4 month time span over $100,000 worth of obsolete

inventory into valid inventory . My position was expendable and due to the

economy was eliminated as sales dropped 40%..

General Signal Division Controller Mar., 1981 - Nov.,

1984

GS Electric Division

1700 South Street

Racine, WI 53404

During my employment at GS Electric, I changed the accounting department.

While the company escalated from $11 million in sales (one plant) to $16

million in sales (two plants), the department dropped from 8 employees to

6. In addition to being able to support a higher sales level, I was able

to supply to my superiors and peers increased information on a timelier

basis. This was made possible by the use of computers and by my own

conviction that PC's were the window to the future. Over all, the changes

I made using PC's saved the company additional money each year and handled

all of the accounting functions but inventory.

In addition to the above department responsibilities, I was involved in

purchasing, pricing, part numbering, credit, collection, budgeting, 12-

month forecasting (profit and manpower), systems and method improvements.

Prior employment

Was with manufacturing companies in the 4 to 50 million in sales. I had

positions as cost account, general accounting, and accounting supervisor.

EDUCATION

University of Tulsa 1976 -1978

University of Wisconsin - Milwaukee 1963 -1968

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