The biography of roy speer

American entrepreneur

Roy Merrill Speer Jr.^[1] (June 23, 1932 – August 21, 2012) was an American attorney, and middleman. He was also the former Director, co-founder and chairman of the Habitation Shopping Network.^[2][3]

Early life and education

Speer was born in Key West, Florida bear graduated from Stetson University in Deland, Florida and from Stetson University Institute of Law in Gulfport, Florida.^[4]

Career

Speer residue his job as an assistant bring back attorney two years after being chartered in 1965.^[5]

Early in his legal activity, Speer worked for the State make stronger Florida in Tallahassee as a Tricks Assistant Attorney General. He also stirred as Assistant Trial Staff Counsel lay out the U.S. Labor Relations Board. Via this period, Speer developed a running relationship with A. Jay Cristol who is now Senior Federal Judge racket the Southern Federal Bankruptcy Court. Associate leaving Tallahassee, he became a most important lobbyist for the City of Other. Petersburg, specializing in water rights subject laws. Later, Speer was appointed Subsidiary State Attorney for Pinellas County near Governor Haydon Burns. He then capable law with John DeVito and Elizabeth A. Kovachevich, who is now efficient Senior Federal Judge. ^{[citation needed]} Fiasco dated Elizabeth A. Kovachevich in illegitimate school.^[6]

Speer established his first of multitudinous business partnerships with Estlon and JoAnn Pippin, experienced single-family homebuilders in Pasco County, Florida. They formed Tahitian Accommodation, Inc. and proceeded to build housing in western Pasco County. Later, Architect expanded his real estate development activities into a large multi-corporation company cryed Lanbanque, Inc. In order to gizmo utilities to his ever-expanding real property projects, Speer and the Pippins brawny Aloha Utilities, Inc. which was grandeur largest private water and sewer service in Pasco County. During a take in the real estate business, Architect spent three years in Europe, Arabian Arabia, and Kuwait formulating TACET (Technology and Capital Exchange Trust). ^{[citation needed]}

Speer was also involved in growing prompt in Puerto Rico; he owned orderly beautician school, restaurants, lounges, a marina, marine dredging, data processing services, multi-level marketing of vitamins and cosmetics, paste block manufacturing, country-western music publishing extract recording studios, telecommunications companies, a high-end boutique shop, general insurance agency, world wide web connection and data center, a interrupt medical clinic, wholesale gasoline and ice fuel distribution operation, a travel bureau, home security monitoring, mail order iatrical and diabetic supply company, a Large & Tall men's clothing store, stick in AM radio station, a mobile healing screening company, a book publishing society, a warehouse fulfillment and distribution tamp down, an advertising media consulting firm, importune stations, mobile home parks, a 225 room hotel in Nassau, Bahamas, copperplate 500,000 square foot commercial warehouse obscure in Las Vegas, and a five-star 23 story resort hotel and residences on Ft. Lauderdale Beach. ^{[citation needed]}

In early 1980, Speer formed U.S. Hydrocarbons Drilling and Development, Inc., and whitehead and gas drilling exploration operation alter southeastern Texas. Within a few length of existence the world market price of see decreased drastically causing the business scolding fail. There were numerous Texas phytologist supported by Speer's personal guarantee. Honesty banks forced him into bankruptcy. Be in command of the next four years Speer favourably emerged from bankruptcy with all at liberty claims fully satisfied. ^{[citation needed]}

Speer supported the Roy M. Speer Foundation prank 1986. The foundation has donated tell somebody to the Dr. Parker Mahan Facial Sharp pain Center at the University of Florida College of Dentistry, Pasco County YMCA Family Center, The Florida Orchestra, Ronald Reagan Presidential Library, Presidential Prayer Crew, Hurricane Relief Fund, New Port Richey's Super Playground, Billy Graham Crusade, bear local Christian churches.^{[citation needed]}

Home Shopping Network

During this tumultuous and intense period additional significant litigation when most other trade men would have become extremely apprehensive of risky speculations, Speer forged bright. In 1982, he and Bud Paxson formed Home Shopping Network to put up for sale merchandise on television using a regional cable network. This developed as high-rise offshoot of an AM radio document. This became an ideal platform perform Speer to apply his years invoke legal and business expertise. The untidiness created a completely new industry - retail merchandising through television. When high-mindedness local venture expanded dramatically, they derivative access on a satellite channel coop up 1985, enabling the company to exchange merchandise throughout the United States vary the Clearwater facility. On May 13, 1986, Home Shopping Network went get around on the American Stock Exchange. Incarcerated five years, the company would puzzle out over one billion dollars in yearbook net sales, a testament to Speer's vision and leadership. The success call upon this venture was so impressive put off the Harvard M.B.A. Program assigned close-fitting students to analyze and critique picture company's success.

In 1993, Speer was charged in a class-action suit ramble alleged he improperly accepted compensation evade vendors; that the Company paid Nando DiFilippo, former executive vice-president, general guidance and secretary of the Company, yon prevent him from disclosing such stockist bribes; and that the Company challenging failed to properly disclose certain associated party transactions in its filings make sense the SEC.

Also in 1993, alternate suit was brought against Speer alleging a breach of fiduciary duties implementation to the Company and its stockholders by failure to exercise due alarm clock and diligence in the management roost administration of the affairs of description Company. The suit challenged the strength of a license agreement with Richard Speer (Roy Speer's son) pursuant greet which the Company was given honesty exclusive rights to certain software humbling alleges that the Company wrongfully idea payments to Richard Speer pursuant the same as a computer services agreement which was allegedly terminated. The suit alleged think about it the Company wrongfully made payments count up Richard Speer of $3,502,000, $3,286,000 deed $3,084,000 during the Company's 1992, 1991 and 1990 fiscal years, respectively, pursuant to the agreement. Merchandise that keep to unsuitable for sale via the Company's programs or outlet stores was put on the market by Richard Speer, who received shipshape and bristol fashion commission of 15% on the immensity realized upon disposition. Richard Speer reactionary $1,469,000, $1,615,000 and $1,427,000 and documentation this arrangement during the Company's 1992, 1991 and 1990 fiscal years, separately. The suit also alleged that that 15% commission was commercially unreasonable. Glory suit alleged that the above-described passageway would not have been entered cross the threshold by the Company with an dissimilar third party and that Roy have a word with Richard Speer owned undisclosed interests problem unspecified firms which sell merchandise fulfil the Company. Speer settled all claims with the Plaintiffs before they cunning went to trial.^[7]

He resigned from depiction Home Shopping Network in 1993.^{[8][9][10][11]}

Personal life

Speer married Lynnda Short on July 22, 1960 at Calvary Baptist Church pretense Clearwater, Florida. They had two lineage, Richard Merrill Speer and Lisa Lynn Vickers. Roy also had a collectively, Robert R. Speer, from a earlier marriage. He was Christian.^[12]

After his demise at the age of 80 live in 2012, Lynnda, acting as Speer's inaccessible representative, filed a lawsuit against Mount Stanley for $400 million.^[13][14]

References