Mr. David Lifschultz
SFO & CEO, Lifschultz Organization
Mr. Lifschultz was CEO and President of Lifschultz Fast Freight that was founded in 1899 whose affiliates were a worldwide airfreight company named Trans-Air Freight System, Wolf and Gerber an ocean freight carrier, and Loretz and Company a broker clearing documents on the west coast of California for major importers from Japan, South Korea, China and other Asian countries which had in the aggregate about 20,000 employees. He exited the shipping industry selling Lifschultz Fast Freight to his employees, Trans-Air Freight System to what is now Deutsche Post, and World and Gerber and Loretz to Prince John Radziwill.
Mr. Lifschultz then became President and CEO of Lifschultz Industries Inc. which was a high tech precision metrology company notable for developing heat measuring instruments that could measure heat to the nano degree. When he purchased it then known as Hart Technology in the early 1990’s it was in extreme distress. Mr. Lifschultz turned the company around and built the it up. He acquired it for next to nothing and sold it 8 years later for $ 22.80 a share to the Danaher Corporation (DHR) on the New York Stock Exchange after a 50 for one reverse split from its Nasdaq low a quarter of a cent. Mr. Lifschultz was a partner in this venture with Donald J. Trump.
Mr. Lifschultz is presently CEO Lifschultz Enterprise which is a holding company for various technology investments. A major interest is in Genoil, Inc. where he is Chairman and CEO which has a patented upgrading and desulphuring oil technology that can convert heavy, high sulphured oil to light, low sulphur oil and create a solution to the Straits of Hormuz problem by creating 22 million barrels of reserve production capacity. This was proposed to the former Energy Secretary Samuel Bodman who loved the idea but could not put it over. It is not widely known that low valued world heavy oil reserves of 700 billion barrels can be converted at a price significantly below light oil reserves that are in short supply at 300 billion barrels of light oil that is depleting at a rate of 32.4 billion barrels a year. Aramco considers the Genoil technology 70% cheaper than anyone else. As the shipping industry is experiencing a near doubling of their fuel costs which were half their operating expenses before the new low sulphur requirements under International Maritime Organization and now much more, interest in Genoil's desulphuring technology is developing growing interest. Its time has come.