BERKELEY, Calif., Nov. 26, 2013 /PRNewswire/ -- Chancellor Group, Inc. (CHAG), announced today that its 51%-owned subsidiary, The Fuelist, LLC, has appointed Peter Hills Monroe to its Board of Advisors.
The Fuelist is a company specializing in cloud-based platform and mobile app technology that brings data-driven valuations to the classic and antique car market.
Monroe has held several senior private and government positions. He served as President of the Resolution Trust Corporation's (RTC) Oversight Board under Presidents Bush and Clinton. Prominent board members during Monroe's tenure included Treasury Secretaries Brady and Bentsen, as well as the Chairman of the Federal Reserve, Alan Greenspan. Following his work with the RTC, Monroe served as chief operating officer of the Federal Housing Administration under Jack Kemp.
A graduate of Williams College, Oxford University and Harvard Law School, Monroe has had a long, successful career in all phases of commercial real estate—from development to sales.
Monroe said today: "I was born in Detroit and have deep family roots in the automotive industry. My grandfather, Dr. Herbert H. Hills, an authentic automotive pioneer, bought in 1904 the first Buick ever produced. Dr. Hills also worked at Buick, where he developed a close relationship with Will Durant, the founder of General Motors. After working with Mr. Durant for several years at Buick, Dr. Hills served for 17 years at the Packard Motor Car Company as the number two executive-- head of sales under Alvin McCauley. So you might say the automotive industry is in my blood and I am excited about the prospects of helping The Fuelist. I did not hesitate when I was asked to help advise this team of top computer engineers and designers.
"As an owner of 100,000 Chancellor Group shares and a 1.5% equity interest in The Fuelist, I look forward to the opportunity to advise The Fuelist and I hope to add value to both companies."
Chancellor Chairman, Maxwell Grant, said:
"It goes without saying that we believe someone of Peter Monroe's stature will be a huge advantage for The Fuelist and therefore Chancellor. We believe this appointment will aid Chancellor as it seeks to strengthen its position in the area of cloud-based mobile application, big data analytics, in-app payments and subscription revenue."
ABOUT The Fuelist, LLC.
The Fuelist, a subsidiary of The Chancellor Group (CHAG) http://www.chancellorgroupinc.com, is a mobile and web platform that leverages deep segment expertise and big data analysis tools to value classic vehicles. These tools enable users to quickly find values, track valuations over time and to identify investment and arbitrage opportunities in this market. Industry research shows that The Fuelist's potentially addressable market is currently $8B and growing rapidly worldwide from a large and diverse group of over 9,000 businesses. However, currently there appears to be no single company or group of dominant companies in the market (Source: IBISWorld http://www.ibisworld.com/industry/classic-car-dealers.html) The Fuelist is based in Berkeley, California. For more information about The Fuelist, please visit: http://www.fuelist.com
Safe Harbor Statement:
This Media release contains statements that may constitute "forward-looking statements" within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. Those statements include statements regarding the intent, belief or current expectations of Chancellor Group, Inc., and members of its management as well as the assumptions on which such statements are based. Prospective investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and that actual results may differ materially from those contemplated by such forward-looking statements. Important factors currently known to management that could cause actual results to differ materially from those in forward-statements include fluctuation of operating results, the ability to compete successfully and the ability to complete before-mentioned transactions. The company undertakes no obligation to update or revise forward-looking statements to reflect changed assumptions, the occurrence of unanticipated events or changes to future operating results.
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