Business Express Airlines ("BEX") - The largest regional airline in the Northeast US, carrying 1.4 million annual passengers. Along with operating management, DSP acquired BEX out of Chapter 11 bankruptcy in May 1997. Rob and his partners worked with the management team to develop a high-growth strategy that included the acquisition of regional jets valued at $800 million. Our diligence allowed us to understand the "hidden" but significant intrinsic value of BEX's control of gates and landing slots in Boston, New York and Washington DC as well as the firm orders for Embraer ERJ-135 jets. American Airlines acquired BEX in December 1998.