BERKELEY, Calif., Nov. 26, 2013 /PRNewswire/ -- Chancellor
Group, Inc. (OTCBB: 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.
SOURCE Chancellor Group Inc.
