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| Affiliation | Republican |
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2008-01-01 |
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| Name | Richard E Phenneger |
| Address |
Coeur d'Alene, Idaho 83814, United States |
| Email | None |
| Website | None |
| Born |
May 12, 1936
(88 years)
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| Contributor | RP |
| Last Modifed | RBH
Sep 30, 2016 07:39pm |
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| Info | Richard E Phenneger was born in Wichita, Kan., on May 12, 1936. His father, Paul E Phenneger, and his mother, Dora Jane Phenneger, were educators. He has one sister, Mary Ellen Mays, who is also an educator.
In 1941, his father entered the Federal Bureau of Prisons as an officer and educator. In 1945, they moved to McNeil Island, Wash., located in Puget Sound. Phenneger attended a two-room school on McNeil. In 1949 the Phennegers moved to Lakewood, Wash., where Phenneger attended Clover Park High School. While at Clover Park Phenneger was elected Student Body President. He entered the University of Washington in the fall of 1954, joined the Beta Theta Pi Fraternity, and graduated in 1958 as a Distinguished Military Graduate with a Bachelor of Science Degree in Mechanical Engineering. He worked for Boeing for a few months and then entered Air Force pilot training in April of 1959.
Phenneger flew KC-135 tankers from 1960 to March of 1966. During this time, he flew missions refueling B-52 Bombers that were on 24-hour airborne alert over the North Pole area. He also escorted fighters to the war in Vietnam. On December 12, 1964, he married Claudia Ann Morgan, his sweetheart of two years. In March of 1966, Phenneger joined Pan American World Airways where he served as a flight engineer, first officer and captain until retirement at age 55 in 1991.
During the 1970s and early 1980s, he served as the President and chief negotiator for the Pan American World Airways Flight Engineers Union. While serving as a labor leader, he advised Pan Am’s four major labor unions that a wage cut was needed to keep the company alive. He then led Pan Am’s four major labor unions (representing some 26,000 employees) in adopting the Pan Am ESOP (the first collectively bargained ESOP in the Nation), coupled with a 10% wage reduction. This agreement was touted by Pan Am as saving the Company in 1981. Subsequently, in concert with Jack Curtis (an ESOP attorney), he was responsible for the design and implementation of some of the Nation’s other most noted ESOPs, PSA, Western Airlines, ABF Trucking, Transcon and PIE Nationwide.
Phenneger is the founder and President of Phenneger & Morgan, Inc. (P&M) and Phenneger & Associates, Inc (P&A), unique Employee Stock Ownership Plan (ESOP) consulting firms that specialize in designing, financing, implementing and administering highly leveraged ESOPs and designing comprehensive employee communications programs. Phenneger serves clients throughout the United States.
Since 1988, he has focused his attention on helping companies in the Pacific Northwest establish ESOPs. For example, he coordinated the year-long buyout process whereby the management and 1,200 plus employees of Rosauers Supermarkets, Inc. acquired 15 stores located in four states, becoming one of the largest employee-owned companies in the Pacific Northwest. The Rosauers ESOP included union employee representation on the Board of Directors and Board of Trustees. Other ESOP transactions in the Pacific Northwest include CXT, Inc. (involving the Steel Workers Union), Yoke’s Foods, Inc., Manhasset Specialty Company, Union Elevator and Warehouse Company, Smith Berger Marine, UniWest, Lloyd Enterprises, Inc., Flight Structures, McCabes Quality Foods, Nautilus Plus of Oregon, D&E Wood Products, Columbia Analytical Services, Inc, Capital City Press, Lewiston Morning Tribune, The Idaho Post Register, Full Sail Brewing, Inland Northwest Corporation, Williams Controls, Bison Engineering, Northwest Healthcare, Bates Drug Stores, Ribelin & Lowell Company Insurance Brokers, Lumber Traders, Inc, Buse Timber & Sales, Inc, Herrera Environmental Consultants, Inc, Key Knife, Inc., Meier Enterprises, Inc, and Madison Lumber.
Over the past 16 years, Phenneger has devoted his time to the Pacific Northwest and has completed over 60 ESOP leveraged buyout transactions, totaling more than $300 million. Transactions included companies ranging in size from 15 employees to 1,200 employees with revenues in excess of $300,000,000. In these transactions, he was responsible for the design, implementation and placement of ESOP debt as well as the administration of the ESOPs following implementation. He has conducted over 100 lectures on design, finance, implementation and administration of leveraged ESOPs.
Seen as an advocate of productivity and enterprise rather than an apologist for either labor or management, Phenneger has earned the respect and trust of both groups.
In addition to his work with clients, he has served as a board member of the National Center for Employee Ownership and AVMARK, which was one of the aviation industry’s leading consulting firms in the 1980s. Phenneger was also a charter member of the State of Washington Employee Ownership Advisory Panel. He has served as a member of the Board of Directors of “The Post Company” (which publishes the Idaho Post Register) and is currently a member of the Board of Directors of Smith Berger Marine. He is a member of the National Center for Employee Ownership and The ESOP Association. He is also a member of Coeur d’Alene’s Down Town Rotary Club, AARP, the Coeur d’Alene Chamber of Commerce, the Idaho Conservation League, and is a life member of the National Rifle Association.
In 1990, Phenneger started advising and mentoring college students. In 1992, he built the Beta Theta Pi fraternity house at Eastern Washington University. From 1995 through 2001, he served as the District Chief of Beta Theta Pi, working with chapters at the University of Idaho, Washington State University, Whitman, Eastern Washington University and the University of Washington. He is currently serving as the Northwest Regional Director of the Beta Theta Pi Fraternity. In his capacity as a mentor for the past 17 years, Phenneger has taught the importance of integrity, ethics and accountability in life. In 1996 he was honored as a “President’s Distinguished Visiting Fellow of Eastern Washington University” for his lecture on “Business Ethics – What’s Legal and What’s Right.” The lecture dealt with the fact that what’s legal is not necessarily what’s right. In 1999 he was honored as the International District Chief of the Year and in 2002 was honored as the International Regional Director of the Year.
Richard and Claudia have lived in the Coeur d’Alene area since 1992 and attend the Post Falls Community Presbyterian Church. They have three children; April, a graduate of Westmont College, who is married to Milo Young and has two daughters; Heather, who graduated from Washington State University, has her masters degree, has passed her National Certification Board of Professional Standards and is a teacher a Rogers High School in Spokane; and Todd Phenneger, who graduated from the University of Idaho and is currently in Belize, serving as a project manager for a new health clinic.
This year Claudia and Richard celebrate their 43rd wedding anniversary.
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