the largest incremental increase in the six-region architectural products group.
Reason for Leaving
At Diamond Industries, Inc., Tom enjoyed unprecedented success and was promoted three times in eight years. He was responsible for turning around several companies. Eventually, he managed the group’s largest region comprised of twelve companies operating out of forty facilities.
In 2000, new management was installed and the culture of the Architectural Products Group changed significantly. Most of the prior administration ended up moving on. By 2003, Tom was the fifth of six regional presidents to leave. After his departure, he was retained as a consultant to assist Diamond Industries APG with acquisitions and several special projects.
Lynx Building Group ($216MM - revenue)
Dallas, TX - 2003 to 2006
Title(s): Vice President, Corporate Development - 2003
President, Southwest Division - 2003 to 2006
Lynx Building Group is a privately-owned real estate developer and national homebuilder based in Chicago. The company operates in Illinois, Wisconsin, Ohio, Florida, Texas, and Arizona. Tom was hired to lead corporate development and was subsequently promoted to Southwest Division President.
The challenge was to rebuild the management team and turn around operations in a very competitive market. Tom restructured the sales team, launched new product, and added joint ventures, thereby improving sales by 78%. He closed under-performing locations, sold excess assets, and reduced inventory by 8.3%. Purchasing and production were streamlined, thus lowering Cost of Goods Sold (COGS) by 3.7%. At the same time, Selling, General, and Administrative Expenses, (SG&A) was reduced by 12.6%. The combination of these efforts improved EBIT by $3.0MM in two years.
Reason for Leaving
With the start of an industry-wide downturn, Lynx Building Group consolidated its operations under family members. The Texas operations were combined with operations in Florida under the leadership of the CEO’s younger brother. The Division President position in Texas was eliminated in the consolidation.
Excalibur Homes ($116MM - revenue)
Dallas, TX - 2006 to 2008
Title: President, Texas Division - 2006 to 2008
Excalibur Homes is a privately owned real estate developer and national homebuilder based in Memphis, TN. The company operated in Georgia, Tennessee, and Texas. Tom was recruited by the Board of Directors to create a new Texas-based, high-end homebuilding division. The competitive market in Dallas and the industry downturn combined to present a huge challenge.
This was Tom’s first true start-up company and he relished the freedom to create a new, ideal organization. He formed a legal operating entity, acquired attractive land positions, established an effective management team, developed a new attention-grabbing product line, value-engineered a cost effective product, created compelling marketing materials, and built trial product under-budget and ahead of schedule.
In preparing the division’s strategic plan, Tom developed an interactive financial model to project a five year income statement, balance sheet, and cash flow forecast. This model was subsequently adopted by the corporate parent organization.
Tom was very involved with the sales and marketing of the new product line. He hired and directed the sales staff, prepared competitive analysis, developed marketing materials, coordinated realtor functions, and assisted with the overhaul of the corporate website.
A cash crisis at the corporate parent made it difficult to fund local payables. Consequently, mechanics’ liens prevented sales from closing.
Reason for Leaving
The parent company was caught with too much inventory in Tennessee and Georgia. Working capital requirements and the debt burden generated a cash crisis. Management in Georgia was unable to negotiate an acceptable settlement with its creditors and national operations were suspended.
Longhorn Banking Corporation ($2.0 billion - assets)
Dallas, TX - 2008 to Present
Title: Team Leader, Loan Acquisition
Group - 2008 to Present
Longhorn Banking Corporation is a Texas-based bank founded by billionaire Arthur Ewing and headquartered in Dallas, Texas. Through its Loan Acquisition Corporation (a Longhorn Banking affiliate) the bank buys individual loans and loan portfolios from different sellers including the Federal Deposit Insurance Company (FDIC), the Small Business Administration (SBA), and numerous private sellers. In the last few months, Longhorn Banking Corporation has purchased over $750MM of loans from failed banks.
Tom was contacted to consult on issues concerning residential construction. This quickly transitioned into a position as an acquisition Team Leader. Tom currently directs a team of securities and loan analysts who devote 100% of their time to analyzing potential transactions. All transactions are reviewed in detail including validating loan documents and other agreements, considering market factors and business viability, determining lien position, evaluating collateral, and assessing guarantees. Tom and his team present all prospective deals directly to Arthur Ewing.
This experience is challenging and a tremendous growth opportunity. It allows Tom to evaluate many different business models from a variety of industries. In addition, it provides an in-depth exposure to the financing side of the business. He now has a better appreciation of the banker’s perspective.
Family
Tom met his wife, Mary, at The University of Texas graduate school of business. After completing their degrees, they married in June 1984.
Mary graduated from Notre Dame University with a Bachelor of Science in Speech. Before attending graduate school, she worked as a Marketing Representative for CXL (computer software), and Sheraton Corporation. At The University of Texas, Mary earned an MBA in Finance. Mary enjoyed a long and successful banking career in the Wells Fargo organization. She retired as a Trust Officer in 1999.
Tom and his wife have been married for twenty-three years and have two sons and a daughter. Their daughter, Alexandra, is a senior finance major in The University of Texas. Their older son, Howard, will graduate from Fort Worth Senior High School in June of 2009. He will attend Texas A&M University and plans to major in management information systems. Their younger son, Erik, is ten years old and will be a fifth grade student in the fall.
Associations, Personal, and Leisure Time Activities
Tom is a member of the national, state, and local Homebuilder’s Association. He served for several years on the Development Board for the Duke School of Architecture. He is also a past Vice President of ESCSI (national industry association for lightweight aggregate producers).
His leisure time is spent attending athletic events (including helping with his son’s baseball team), taking part in a men’s basketball league, chess, and participating in family activities.
