Below represents the records pertaining to the Eagle Thrifty Drugs and Markets corporation of Nevada. This information can still be obtained through the corporate records division of Nevada's Secretary of State's office. Click here to go to a page on this site that shows their website. The Eagle Thrifty Corporation was dissolved in 1990 and the information can be seen below-above the 1973 articles of incorporation.
Charles Collings, James Teel, and (supposedly) Tom Raley purchased the Eagle Thrifty Drugs and Markets chain (in Nevada) during the month of June and established ownership of the stores on July 1, 1973. During the last part of June and early July, these three (3) men (and supposedly Tom Raley) immediately formed a Nevada corporation called the "Eagle Thrifty Drugs and Markets Corporation." This was separate from the "Raley's corporation" of Nevada. How was Raley's able to purchase these stores? Raley's was broke in the summer of 1973. And why would Tom Raley purchase a chain of stores (that were terribly mismanaged) in Nevada that were losing money? The reason: Charles Collings and James Teel were going to bleed these mismanaged stores for all of the cash available until they went bankrupt.
So why didn't these stores go bankrupt like Collings and Teel had planned? Because in the summer of 1973 these two men (dishonest) were fortunate enough to run into a man whom they soon determined knew more about the grocery business than any man that they had ever met before. A man that Charles Collings and James Teel would feel comfortable defrauding down the road.
