EMAIL DETAILS
SUBJECT:
Re: Response to Jonathan
PRI: NORMAL
FROM:
J
jbulger@thorntonai.com
DATE:
2013-03-09 01:27:13
MSG_ID:
<CANzY628QjODhQSrYcJj9DpVgkRt1DmT7047hEZv6Vz3M5CdjmA@mail.gmail.com>
RECIPIENTS:
TO:
D
Devon Archer
<darcher@rosemontseneca.com>
CC:
H
Hunter Biden
<hbiden@rosemontseneca.com>
J
James Bulger
<jbulger@thorntonai.com>
M
Michael Leonard
<mleonard@thorntonai.com>
CONTENT:
TEXT: YES |
HTML: YES
PROCESSED
Devon No problem you give the draft a go and we will have the call on Tuesday am EST. lets shoot for sending the reply back to Jonathan on Tuesday after our call. Hope you are haveing a good trip Devon! Jet lag must be confusing as hell on Luke Thanks Jimmy On Friday, March 8, 2013, Devon Archer wrote: > Jimmy, > Thanks kindly for moving this forward. This is a good draft with the right > tone. Let me take a crack at it and I'll get back to you in the next 24 > hours. I'll be on a flight back to nyc Monday am and headed straight into > dinner that evening. Let's plan for Tuesday am for the call. > Best, > > Devon Archer > 646 436 3745 > > On Mar 8, 2013, at 9:26 PM, James Bulger <jbulger@thorntonai.com<javascript:;>> > wrote: > > > Devon and Hunter: > > > > Attached is my first crack at a response for Devon to send to Jonathan. > It is inspired by the comment that Heinz made to Devon which is "we don't > have anything to prove, if anything the Chinese should prove why they are > worthy of being partners with us!" > > > > I have to admit when I first saw that he was proposing 10-15% I was not > thrilled. I thought we were going to major players in getting this fund off > the ground and as such we deserved a much higher cut than 10-15%. On the > other hand, if all Jonathan needs from us is to sit on the investment > committee then it might not be a bad deal. The point is that we need to > figure out what our role and that will determine what size a cut is fair. > > > > For example, if we were to be very active partners in this fund I think > I would RST to have a share in the 30-40% range. If our involvement is > simply to sit on the sidelines and be the "white face" then I'm personally > close to 15%. What I am not willing to do is to make this RST's new > full-time job for 15%. > > > > My gut tells me that Jonathan is going to need our help in an active way > rather than a passive way. Considering what Jonathan is trying to pull off > that tends to be how these things work. So let's start to get to the bottom > of that with Jonathan. > > > > Please review this response and let's have a call about it on Monday > morning. I don't want to choke the baby in the crib with an overly negative > reaction to Jonathan's proposal but we need to figure out some things > before we move forward. > > > > Best, > > Jimmy > > > > -- > > James J. Bulger > > Chairman > > Thornton Group LLC > > 14 Beacon Street, Suite 804A > > Boston, MA 02108 > > Office tel: 617.248.9440 > > <Respone to J 3-8-13.docx> > -- James J. Bulger Chairman Thornton Group LLC 14 Beacon Street, Suite 804A Boston, MA 02108 Office tel: 617.248.944
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