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Born on 8/11/25 in Greenwood, MS, I graduated from
Greenwood High School as Valedictorian in May 1943. On 6/1/1943, I
enrolled at LSU for the summer semester, and joined the United
States Military in the same year, leaving my college career on hold.
After serving almost three years in the military, with an
Honorable Discharge, in May 1946 I re-enrolled at LSU on 6/1/46, in
the Business School, Majoring in Accounting. I graduated in May
1949, after obtaining many honors, including ODK (Omicron Delta
Kappa, the highest honor at LSU at that time), finishing as one of
the upper level graduates of the University, and The College of
Business Administration and Accounting. During my senior year, I
applied for employment with Barton, Pilie, Hughes and Jones, in New
Orleans, LA. The largest Accounting firm in the South (I wasn't
interested in joining a national firm). I had already turned down
employment with the IRS and Standard Oil Company, (salaries of $350
a month), inasmuch as I knew my future and happiness was in public
accounting). Mr. Barton, being a shrewd bargainer, asked the least
amount that I would accept, and I told him $250 a month was the
least I could take. He said that he would start me at $175 a month,
and being either foolish or smart, I accepted the offer. My theory
was that I would sacrifice at the beginning, with an eye for the
future, and I was right. You need to keep your eye on the larger
prize, not today's start.
I
traveled straight up the ladder, in-charge of small Audits at the
very beginning, where I would work on the audit during the day and
then go to my college audit books at night to prepare for the next
day at work. The reason for this was that the office was so short
of trained people that they did not have the people necessary to
make out an audit program for me to follow. I actually learned more
that way.
Having made great strides in auditing, etc., I was promoted to the
tax department, where I was dispatched to ferret out information on
certain cases, which was not readily available. The one I vividly
remember was a case dealing with the "Long Family”, including Huey
Long, Russell Long, etc. Our tax department wanted to liquidate one
of the "Long family" Corporations, but there was insufficient
information on their "cost basis", etc. An attorney was located in
Alexandria, LA, who had done some early legal work for the Long
Family. Arrangements were made for me to visit the attorney's
office and "nose" through the files to see if I could find anything
pertinent. I was able to get sufficient information to enable our
tax department to liquidate the corporation and save a considerable
amount of money for the clients. In the tax department, I gained
valuable experience, including reviewing tax returns prepared by the
staff, and preparing large returns, etc.
The
firm had a satellite office in Biloxi, MS with two non-CPA managers
and under 10 personnel. Most of the large audits on the Mississippi
Coast were handled out of the New Orleans office. I had been on
many of those audits, including the Bertucci, Mavar audits, and
DeJean audits, also tax department visits with Mr. Barton, etc.
With the Mavar’s on estate planning, etc.
So,
they offered for me to move to Biloxi, and become the CPA in charge
of that office. I initially turned the offer down, inasmuch as I
had married in 1950, and my wife and I had a child, and I didn't
want to uproot them from New Orleans from their family and friends.
My father-in-law told me that i had lost my mind turning the offer
down, that they could get along very well without us, being only 90
miles away. He also taught me a lesson: "he said that you never
turn down a promotion, because there is always someone else to take
your place. He was the vice-president and Head Sales Manager for
Standard Coffee Co., and had a great deal of experience dealing with
personnel. With that in mind, the next morning I told Mr. Barton I
had lost sight of my goal by turning it down, and he accepted my
explanation. So, in December, 1952, we moved to Biloxi. The office
was located over Ellzey's Hardware, in the old Peoples Bank
Building. The Firm signed a lease for most of the first floor
building going up next to Biloxi City Hall, and the VFW Building.
On 7/1/53, the building was dedicated, with a future Governor,
William Winter, being the speaker.
My
employment contract was $500 a month, with a guaranteed bonus of
$500 at the end of the year. Back then, that was big money, having
come a long way from $175 a Month.
It
was a lot of hard work and sweat, and internal squabbling with the
two former co-managers, we managed to move forward. We bought out a
small practice of a local CPA named Judlin Girot, there was mostly
small clients, bookkeeping and tax returns, and no audits. The
clients were scattered from Lucedale, Moss Point, Pascagoula, Ocean
Springs, and some in Biloxi. I had more available time than the
others, so it became my primary responsibility. I did a lot of
traveling away from Biloxi to these places, doing monthly,
quarterly, and annual work. I was usually back in Biloxi before the
office closed so that I could return calls, and put out fires before
I left again each morning, The Biloxi office kept growing. The New
Orleans firm decided to merge with Peat, Marwick, Mitchell (a
national firm) with the New Orleans firm being the dominant firm in
New Orleans. I chose not to join with the National firm. A. C.
Simms (a non-CPA) and I purchased the Biloxi Office from Barton,
Pilie, etc. On 6/1/62, Piltz and Simms took over the local firm.
Since Simms was not a CPA, we could not be a CPA firm. We continued
as a non-CPA firm, with me signing all reports “Piltz, Simms, and
Company, by: Gerald Piltz, CPA”. The firm continued in this manner
until July of 1977, when Simms retired. On July 1, 1977, Piltz,
Williams, LaRosa and Company was formed, and continues to date.
Over the years, other Partners, including Bill Thompson, Gene Clark,
Stephen Theobald, Mike O'Neal, Peggy Closson, Darrell Galey, John
Kenna, John Prentiss, and Eric Bland joined the firm. Stan
Williams, Sam LaRosa, Bill Thompson, Gene Clark and I have retired,
John Kenna left the firm, and at present, Steve, Mike, Peggy,
Darrell, John Prentiss, and Eric remain as partners. Sam, Bill, and
Gene are still working part-time; however, Katrina (and illness)
retired me from part time work.
In
conclusion, I have loved my work, the partners, the clients, and
public accounting in general. The profession has been good to me,
and I have been good to the profession.
I
have served as President of The Mississippi Society of Certified
Public Accountants in 1959-1960, the American Institute of Certified
Public Accountants council, and received the Mississippi CPA Public
Service Award a number of years ago. I served 12 years on the Coast
Coliseum Commission, having been appointed for terms 1982-1994 by
Governors William Winter, William Allain, and Ray Mabus.
All
of this has been a wonderful lifetime of experiences. One thing I
have always practiced, that is "honesty". I have never knowingly
taken advantage of anyone, whether it be a client, employee, or
family member. I remember telling my children, that "honesty" is
not only the "best policy”, but it is the "only policy”. And,
today, they remind me of that teaching. When they were little ones,
we would go to a grocery store, if I were under charged by a
cashier, I would inform the cashier; and if the cashier over-charged
me, I would tell them. When you are honest, you can sleep better at
night, and you will like what you see in the mirror.
Love and God Bless!
Gerald Piltz
March
9, 2007
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