To: David Altman

Date: December 19th, 2000

 

Dear David -- Today Citicorp Ventures decided to place Chase Industries "in play." [See below – Chase is up 40% with possibly more room to grow. Also see attached My Peace, Chase Brass – One hope for the future - Addendum III that was “broadcast” back on December 1st.]

 

Now is the time for us all to pull together. Lets put aside our differences and our indifference and stop the debate on who needs the most mental bandages. If it helps make any of my friends, especially those with whom I have had some discourse, recognize that this is a green light opportunity to do right, I will gladly concede I am the most nuts.

 

David, I hope though you too made a killing on Chase. Now, in fact, is the time for all of us to “kill as many birds with one not-so-foul-swoop. Although this is all about TIMING put aside for the moment ECB's blank verse.

 

TIMING

 

A late worm misses the bird.    [New Year is still another opportunity to find that right girl/boy.]

 

Hannukah has begun and Xmas is just around the corner. David, even if you did not do your own jew diligence on Chase or even Leucadia National - a paid for commercial - Addendum IV and failed to make a killing on either, don’t be discouraged. I believe you too have come to realize there are more important things than dying the richest person in the grave.

 

First, lets make sure that Citi does the right thing with all its minority shareholders.

 

Second, lets pull together the resources to make the most of their idle capacity.

 

Third, by embracing the Palestinian cause, which is not just their cause but everyone's cause, we add that much more weight for Jonathan Pollard getting his fair comeuppance. Finally those in the corridors of power are starting to get a clear signal that we mean business. We need, however, to do more. Let’s even encourage Lieberman to be the best he can be.

 

We could even take a leaf out of our friend Trevor's playbook -- [see Nutty Trevor - Addendum I] and contact President Clinton and President Elect Bush directly. By clicking on below you can send them both an email:

 

http://www.whitehouse.gov/WH/Mail/html/Mail_President.html

 

http://64.57.182.135/contact.asp?

 

I suggest you say something along the following lines: 

 

Subject: Jonathan Pollard – Another perspective on Peace in the Middle East and perhaps elsewhere.

Dear President Clinton/ President-elect Bush,

Isn’t it time we revisited the whole Jonathan Pollard affair. My understanding is that Pollard was doing "what he was not supposed to be doing" that he violated the oaths that every member of our armed services takes, to protect and defend the constitution of the United States first and foremost.  I have never quite understood whether he was doing the business Naval Intelligence were supposed to be doing, i.e,  sharing relevant critical intelligence with their strongest ally in the region or whether the information he passed on to the Israelis had little impact on Israel's security needs, in which case no harm, no foul. Now there was talk that this intelligence ultimately fell into the hands of the Soviets but surely then Mr. Pollard should be labeled a "Soviet spy" rather than an "Israeli spy" and wouldn't we Americans make some sort of accommodation to balance things out considering the fact that  Nathan Sharansky who was known as the "American spy" and who is now a cabinet  minister in the Israeli government, was doing the bidding of the United States Government?

I know this whole matter is very confusing but in a spirit of peace and harmony isn’t it now time that Mr. Pollard gets his fair comeuppance? If we are to find peace in the Middle East maybe it is time for everyone to come together to recognize we are all one, Jews, Arabs and in the spirit of Christianity lets forgive each other. The Palestinians too deserve their rightful comeuppance. They should be rewarded for being the scapegoats not only of the Arab dictators but all dictators around the world. The Palestinians may be responsible fro bringing us together, connecting us all back to the year dot.

Perhaps the “release” of Jonathan Pollard along with a commitment of the world to recognize the rightful aspirations of the Palestinians will trigger justice and peace for all mankind, now and forever.

As It is said, “If I am not for myself then who is for me? If I am only for myself who am I? If not now then when?

 

Sincerely,

 

 

 

 

David, it is not important what brings us all together right at this moment; whether in fact Citicorp Ventures decided to finally act after being dormant for more than decade simply because they thought the timing was right or they thought some worm might eat their bird or whatever. Perhaps someone forwarded them "My Peace" or they finally saw my three postings on the Yahoo bulletin board.

 

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7078982&tid=csi&sid=7078982&mid=76

 

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7078982&tid=csi&sid=7078982&mid=78

 

http://messages.yahoo.com/bbs?.mm=FN&action=m&board=7078982&tid=csi&sid=7078982&mid=79

 

 

There may be some legitimate questions as to whether this proposed transaction is "arms length." Perhaps if enough of us question what is occurring we will get straightforward answers. Again following in the footsteps of the former commissioner of the FCC, Nicholas Johnson, I would propose asking Citicorp Ventures the following question:

 

Dear Mr. McWilliams,

 

What does this transaction mean for all the minority stockholders and those who have a stake in maintaining a competitive marketplace? Could you explain how do you know?

 

Today's buyout price is awfully close to the price the stock was trading out when I suggested it was time for a resurrection. $10.50 still seems pretty cheap to me. I think this newly formed “division” of Citicorp Banking could do a little better. What do you think? David, keep in mind that on the one hand Chase hires Citigroup’s own investment bank to examine it’s strategic alternatives, then on the other hand the Board “independently” hires First Boston to opine on the fairness of a Citi led buyout. Now First Boston is the exact same bank that financed Citi’s most profitable buyout’s ever, Fairchild and Intersil. This takes the concept of “independence” to a whole new level, wouldn’t you agree?

 

Remember I no longer own any stock in Chase or any other company but it seems that this would be a good place to start to freshen things up a little, making sure that everyone gets their fair comeuppance.

 

Remember my ultimate goal is that we all come together. First we need to build homes for the Palestinians.  Chase with its 750,000 tons of steel capacity sitting idle could play a role. [See edited version of My Peace, The Washington Bunch – Addendum VI.] Of course should they dispose of the steel business the acquiring entity would then be in a good position to offer really good pricing to the housing authorities in God forsaken places beyond even Gaza and those sites in Tel Aviv where a crooked lawyer stole our family's rites a while back. I would support homes for the Palestinians being built on these ocean front properties if for no other reason than it will provide some comic relief to my family who think that I am setting myself up as a target for those on the right and left. I have tried to reassure them that my biggest risk comes from those in DC and others whose minds are clogged up with Durban Poison substitutes, pain killers included. I have tried to impress upon them that I am well protected by my neighbor who has British, Egyptian and Jewish blood running through his veins, plus I have my friend Guy as backup. Consequently, the only "danger" could come from those who benefit from the chaos of "indifference." My hope though is that this email will serve to mend all fences, family included who have been so concerned about my welfare on a number of different levels.

 

I am still planning on going on my little trip but it is incumbent upon each one of us to hold each other’s feet to the fire. I realize I am for the first time starting to play with real fire. It is one thing to allow a former Assistant Secretary of the Navy to get a dunking but make no mistake I don't want to rub up the King pins of venture capital the wrong way. One day I may decide to resurrect myself and there are few safe harbors from Citi's tentacles. I am counting on my very connected friend to pull out all stops and to let this one ton gorilla know that in the end I mean well for them as well.

 

David, my hope is that in the end Trevor G. would look kindly upon me especially if Randy [Kaplan co-founder of Akamai] paid attention to Addendums III & IV of the mini series and chooses to do right with our mutual friend who is a good soul. Steven Graf may also owe me a big hug should he have taken the monies made from the silver fillings and related spin-offs and invested those proceeds in Chase. I should see a dentist before I depart on my travels, maybe he will kind enough to take me in.

 

Also send our other Trevor mate the South African Minister of Finance my best wishes. Considering all the games that the white folks are playing with the South African economy right now it looks like he is doing a pretty terrific job. Let's organize a party when I get to Cape Town late summer. The leader of the opposition party is also copied in on this email. My Dad will attest to the fact that Tony is not only a good man but he is a true party animal.

 

Finally, please don't point out to Trevor G that Island where the beneficiaries of our forefather's endearment philosophies labored so well under the Cape sun. Rather encourage him to join me on one leg of the trip.

 

Alles van die beste.

 

Gary

 

ps. I now you wont mind if I share this email with some of my other friends and neighbors.