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Computer Technology Corporate Finance

Location:
Mount Pleasant, SC
Posted:
March 23, 2024

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Resume:

John Watkins An alternative form of a resume which we suggest you read to the

end, even if you are not interested. I have had widely varying careers – finance, sales, manufacturing operations, Wall Street, inventions in several areas, property management and non-profit work.

At the age of 16, working at Cape Canaveral for Martin Marietta, I developed a model to use projected weather conditions to determine how rapidly the liquid fuel and oxidizer would gain heat as launch approached – optimized thrust came when the two were at 55% Fahrenheit at liftoff. I built a multiple regression model using 25 possible influencers and never missed launch temperatures by 0.4 degrees in subsequent missiles. I also ran the analysis of what was causing explosions of Titan II missiles at 95-105K foot altitudes. Turned out to be water hammer which required a redesign of the pipe flow from the fuel tank. Martin Marietta paid for my Georgia Tech BS in Applied Math, along with a job whenever I had the time. From the age of 20-23 I worked at Procter & Gamble in the development and deployment of computer technology. My first invention was a hardware/software modelling of large IBM mainframes (two large 360’s in the Cincinnati home office). IBM said it was not possible, but they bought the technology from P&G when it worked very well. Seven years later I had to fight off a bogus software methodology patent to Boole and Baggage who copied my product. I could not patent my invention because the hardware was off-the-shelf chips from DEC. My second invention there was one I was not allowed to talk about at the time. P&G used a nuclear magnetic resonator to study molecular structure as manufacturing procedures were varied. I built a mechanism to pull the data off the MNR and used an IBM mainframe to build an image model of the NMR in real time and return it to a video display device which allowed the three dimensional image to be rotated in real time by the NMR operator. This was done in 1968. P&G did not want competitors to know it was possible to do this. The next eighteen years were with Celanese Corporation in a changing succession which ended on the financial side. The first major project was to build a seven level computer complex which tied together everything from financials, sales, inventory management, manufacturing, a lights out-warehouse and joined in continuous operations of IBM, Xerox, Honeywell and other manufacturers. The challenging aspect was doing operation and restart when one or more of the seven layers were down. On the technical side, we introduced hierarchical rather that relational databases, and ran a high tech T-1 cable from New York to Dallas, attaching to multiple manufacturing plants along the way. I obtained an MBA in Corporate Finance and then spent a few years implementing consistent software in South America and Europe. Celanese did the first ever excess pension fund recapture ($400+million) and I assumed the role of Finance Director, leading efforts to completely restructure the company. We forced conversions, sold high volume low margin business units and acquired and implemented new technology with much higher margins. I led the working team analyzing businesses for acquisition, divestiture, and financial evaluation. When Hoechst wanted to buy our Engineering Resins entity, I explained to John Macomber (our CEO) why we had to get at least $1 billion for it. When he relayed that quote to Hoechst CEO Jurgen Hoitz, his reply was “How much for the whole company?” Six weeks later Hoechst offered to buy the whole company and my team did the analysis on what had to change due to reduced competition and what valuations and negotiations had to occur. The board took eight minutes to accept an all cash offer of $3.2 billion. I was one of the 24 top executives to retire (mine only temporary). I did stay on another seven months because I had developed the software to close the annual books in two days from 38 offshore business units (prior to my development it took 3-4 weeks).

I shifted emphasis to technology development, funding, and implementation. We built the first portable ECG using a standard probe set and a HP luggable PC. We engaged Johns Hopkins to build in a real time tracking (while the ECG was occurring) an analysis for 57 different classes of heart disorder. The FDA had no problem certifying it as an ECG, but would make no opinion on the analysis (their comment was “Who is going to testify at the lawsuit when your analysis misses one?” We developed a novel approach to early detection of breast cancer and sold the technology to Johnson and Johnson. We also created a technology to do extremely high resolution of museum art (4,000 pixels per linear inch). It was sold to museums like MOMA, Getty, and Metropolitan. Sotheby’s used it to display images in large scale simultaneously in Paris, London, and Tokyo while auctioning off Van Gogh’s art in NYC.

During this two year stint of introducing new technology, I ran across a software company (ERP) in Denver who was selling to the wrong market. I approached Ed McVaney (CEO and 70% owner) and suggested he should be selling to large multinationals. He had no Fortune 100 clients and had a gross sales of $26 million. I convinced him to let me create a small 5 person sales force and whatever size implementation staff needed to sell to the large market. It took eight more years for my team to go from zero clients to 72 and gross sales for the company to $850 million. My clients included IBM (13 sites), Merck (44 sites), Citicorp, Seagrams

(14 sites) and numerous others. I followed this stint with another startup (then $23 million) and took them to $440 million.

I foresaw the downturn in the computer market (and resigned from one startup that insisted they be allowed to book business when the underlying project had not been delivered). I reminded the CFO that top officials were breaking the rules of Sarbanes Oxley and even though I was acknowledged as top sales person (new clients included Honeywell, Procter&Gamble, Genesis and others) I resigned gracefully.

My next six years were spent as CFO/COO in a venture to build large recreation centers in small towns with no competition. 60-90K square feet, $8-10 million - building, funding, and operating were all part of my role. The buildings included movie theaters, bowling alley, sports bar, arcade games and one kitchen in a single building.

My last eleven years have been spent in the community association management business. I moved into a new neighborhood, ran for the board to meet people, and wound up as president for three years. When we lost our General Manager, I switched over to the paid position for the next six years. This community has 2,730 homes, 35 miles of private roads in a gated community, 86 retention ponds. We reduced delinquency from 5% to 1.1%, always had a surplus, removed seventy percent of our Dominion owned street lights and replaced them with our own. This project has a 47% ROI, borrowed the entire $875 thousand on a six year note, and ultimately reduced our electric bill on those lights from $250K per year to $7K per year. The light comes with a 10 year commercial guarantee against as much as a 5% lumen loss, and are manufactured in Texas. We implemented our own GIS system for better property management.

The purpose of this long missive is that I am an inventor, geek, finance/accounting, high end sales person who has worked for sixty two years and intend to work ten more, but only on interesting projects where my background will be useful. I have enough money to not work, but do so because in the right situations I have no issue with working 55-60 hours a week. My primary objective in working is enjoyment derived from changing things for the better. If you have read this far, thank you for taking the time. John Watkins



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