Parting Shots

Note to myself: When I leave the venture business, please do not bash it on the way out.

Two of the great Boston VCs of the 70s, 80s, and 90s didn't follow that advice and I feel badly reading their parting shots.

Exactly one year ago, Paul Ferri, the great VC from Matrix in Boston told the Boston Globe that he is advising investors to avoid the VC business.  The quote about their money was "you won't get it back". That pissed me off.  And I wrote this post in response.

Now we have Howard Anderson, a founder of Battery Ventures, saying "Goodby to Venture Capital" in the MIT Technology Review.  Thanks to Brad Feld for the link.

Howard's list of problems with the venture business is at least three years old and in many cases at least ten years old.

Too much capital chasing too few deals?   I've heard that since the day I entered the business in 1986.  That's always the case in this business.

Innovation is dead?  Come on.  What planet are you living on Howard?  Stuff is happening so fast right now I can't sleep or I'll miss something important.

Venture returns sucked in the 1999 and 2000 period?  Is that news?   How about showing the early returns on the 2001 and 2002 vintages?

Enterprises are sick of buying technology?  Sure IT organizations aren't buying hardware and software as much anymore, but business units are buying software services they don't have to manage and deploy like no tomorrow.

This goodbye note from Howard is so off base that I can only think Howard feels the need to justify his retirement.  He can't feel good leaving the greatest job on planet earth unless he says the good times are over.

I just hope that I have the good sense to behave better on my way out.

Comments

[scotty the body]

Dude is smoking crack if he thinks big businesses aren't spending money on "IT" anymore. My company's year-to-year IT budget grows every year. This year we had the largest-ever increase: up some $250M -- an increase of over 30 percent. Most of this will be software and services, but I know we just spent an extra $10M on infrastructure (hardware) in the first quarter alone.

Many Enterprises are sitting on a lot of untapped capacity right now (still left over from the .com boom, in most cases), but the market (i.e. customers) are demanding more than ever from IT. I think the smartest companies are using brain power to harness the untapped capacity, but even that is very expensive and often requires heavy software and personnel costs -- all excellent business opportunities to those who can step up to the plate and fill the gaps.

I could go on, but I need to go spend some IT dollars at the office ;)

[jackson]

I don't know shit about the vc business, and admittedly I skim your finance and tech blogs in search of politics and music, but I actually took a moment here and read this post, as well as some of the MIT review story on Hoawrd. Me thinks the lady doth protest too much - eh?

[hotblogger]

I think I'll side with Jackson in declaring that I know a lot less about the venture business than...well anybody. Essentially, I’ll leave it up to Morning Star (or who ever) to debate how VC risk adjusted returns compare to other asset classes.

And hell...even if the returns compare badly, since when did innovation and rationality mix anyways? I’d venture to agree with Barry Moltz that entrepreneurs and VC’s all have to be “a little crazy” to justify doing what they do...I think Keynes articulated it well in noting that:

“A large portion of our positive activities depend on spontaneous optimism rather than on mathematical expectation…if animal spirits are dimmed and the spontaneous optimism falters, leaving us to depend on nothing but mathematical expectation, enterprise will fade and die.”

So..is venture investment an example of “spontaneous optimism”? I dunno..I’m sure Fred’s got an opinion. Does it matter even if it is? On the balance of probabilities, this commentator would argue “NO”. Money management would simply be too boring if there was no private equity and animal spirits are not going anywhere.

That said, as a co-founder, I totally notice the glut of money in the industry and I don't like it.

When the only way for us to move forward is to justify a $2-5 million investment to an oversubscribed VC, I seriously begin to get confused about what people like me are supposed to do to begin with.

Basically, I was taught that my job was to identify problems worth solving and then test (the operative word being: test) solutions to these problems...prior to passing the torch to a mid-large sized firm who'd have the resources to go mass market.

But now there's a problem...if we take VC money, we'll be accepting an obligation to grow the company towards a revenues range of $30-40 million. Is this a job we were specifically trained for- NO. Is capital overhang in the industry a problem for us- YES. Do I feel overwhelmed with the prospect of having to grow a company to $30-40 million- I dunno- would you?

[Andy Nardone]

Having heard you talk a few months ago in NJ, I find your outlook on VC in the weeks/years a lot more insightful. The real structural shift going on is in the plummeting cost of the tools (software, hardware, bandwidth etc.) available to the entrepreneur. The impact on VC is simply that investment size has to come down accordingly, thus fund size as well. My quick summary may not do justice, maybe you can touch on it again.

Mr. Anderson's assertions bring to mind US Patent Commissioner Charles Duell who, in 1899, commented, "Everything that can be invented has been invented."

[JayR]

I thought I was in a time warp as I read his article. There isn't anything particularly novel or provocative in this piece except that there isn't anything particularly novel about it. There was at least one two-year period (or longer) in each decade going back to the '60s when this article could have been written. But I suppose that at some point people burn out even in "the greatest job on planet earth", and are no longer as interested in doing the legwork to scope out good opportunities, particularly when entrepreneurs keep getting younger and LP pressures keep increasing.

The one noted change in the industry that I would agree with is the number of funds out there. I don't think there is too much money out there, but the number of funds did explode in the last ten years and I don't think it has receded yet to an equilibrium level. But to me, this is more of an issue for entrepreneurs than for other VCs.

[John Furrier]

I've lived in Palo Alto since 1999 and I can say with first hand left coast observation that the VC business was a difficult one from 2000-2005. You can take a broad stroke and paint the picture like that for the system. Hell has Paul and Howard ever heard of the term "business cycle".

As a starving entrepreneur during those dark years from 00-04 it sucked there was no action. But I agree with you that there is a ton of action going on NOW!

Way to stick to your guns! And old entrepreneur now VC mentor and friend told me ...it's how you survive the downswings how you take advantage of the upswings.

John

[paul jan]

i agree with your points regarding howard anderson's farewell. following is my take:

"Innovation is not dead, but demand for new technologies is moribund and will continue to be weak for at least the next five years."

yes, but early-stage vcs look at 7-10 year investment cycles for their companies, and so the it trough we're currently in is short-term; there's no telling what the technology landscape will look like ten years from now.

"...few software and communications companies will enjoy the double-digit growth that inflames company valuations and makes VCs rich."

also true, but this is what separates the successful vcs from the unsuccessful ones: the former will be able to identify, invest in, and exit those companies that will exhibit double-digit growth and deliver outrageous ROIs. this is why vcs get paid the big bucks. 1995 - 1999, the period when it seemed like every vc was minting money, was an anomaly. prior to that period, the environment was as it is now: very few winners, a lot of losers. this is just capitalism as it's supposed to be.

...the financial markets for technology companies are no longer exuberantly irrational. VCs hate rational markets..."

no, dumb vcs hate rational markets. good vcs anticipate the rationality, and only invest in companies that will create real value. those vcs that depend solely on the markets to behave irrationally are the ones that won't survive, in the long-run. the irrationality of financial markets is no thesis for investment.

"... these changes in venture funding are structural, not cyclical..."

wrong. as dan primack wrote in PE week wire, "Where Anderson crosses the line, however, is in his assertion that such changes are structural, rather than cyclical. In fact, the one flaming piece of information gleamed from the bubble inflation and collapse was that cycles are an ingrained part of capitalistic economics (at least the American version)."

"There's too much venture money pursuing too many deals. There's nowhere for all that money to go: we can't spend the money we've raised."

true, with the following caveat: there's too much dumb venture money chasing too many deals. the smart money will always find a way to make it into good companies. the guys at google, did they accept capital, willy-nilly, from any vc willing to listen to their pitch? not at all: they sought out the smart money, and the smart money made a bet. sometimes the smart money wins, sometimes it loses, but smart money, on average, will find better deals.

howard anderson has an enviable record of venture investing, and i can only hope to become as prominent as he was in the venture world. his post, however, smacks of resignation: howard, i don't think it's as bad as you want to think it is. i was just a junior guy at a small venture fund, but even i know that, in a healthy market-driven, capitalistic economy, there will always be opportunities for smart money to do its job: help good companies get better.

[DAMARI]

WHY HASN’T CITIBANK RESPONED TO THE DEPT. OF THRIFT SUPERVISION AND WHAT ELSE WILL THEY LIE ABOT TO THE DEPARTMENT OF FAIR EMPLOYMENT AND HOUSING?
CITIBANK ETHICS PLEASE POST AND FORWARD MY STORY I NEED YOUR HELP PLEASE HELP US GET THIS STORY OUT PLEASE FORWARD TO EVERYONE YOU KNOW
The letter I’ve include with this email is from a concern client of Citibank
My question is will the teller be fired and if not why not? This teller left out about $10,000.00 in the unlocked front drawer 2 different times with in a two week period and had two shortages in one year, one for $100.00 and the other for $450.00.
Where the cash drawer is concern two employees signed the vault book stating they witness her put the cash away, obviously not true.
One of these two employees had the bank pay for her daughters overdrafts and the manage was aware, against company policy.
This teller entered false referrals into the systems to make the banks numbers look better and this was done under the supervision and direction of the supervisor, when I brought this up to the manager none of the three tellers which input false referrals were written up, falsifying bank documents and no write up but I get written up for missing a Saturday, why? Unfair and unequal treatment by the manager. Where are the ethics?
As I’ve stated, the unethical employees still have jobs and I get fired after the manager receives my email on 12/13/05 at about 1:45 p.m., and he acknowledges receiving it, it clearing answers his question/comment that he was calling to see if I was coming. The email states that my doctor had called in and spoke to Kathleen: as well as faxing in my doctors note which the manager returned to me with my termination letter received two days after I had been fried with no check, with no break down explanation, no vacation pay, misleading information and so on, note clearly stating my disability time off. Did he read the doctors note? Did he let upper management know that my doctor had call and faxed information?
The manager called I returned his call but he was with a client.
I requested to communicate via email and I emailed him, Kathleen and Human Resource, so why was I fired sometime after he received my email and the end of the day if he was just calling to see if I was coming in and if not to contact HR? Unfair and unequal treatment.
It makes no sense. Why weren’t the labor codes followed? Did he get HR permission to fire me?
Why then wasn’t my check included with my letter of termination? Aren’t I to be fired at the location which I work? Were my rights violated when he had Kevin send me my termination letter, did he know I was getting fired prior to me receiving my letter?
March 25, 2006 Dear Ms. Deloney,
I would like to take a moment and thank you for responding to my comments regarding Damari and the manager. I am sure that you are a very busy and important person and I appreciate your time. Damari is truly missed at the bank, since her unfair termination by the manger, the atmosphere at the bank is boring to say the least. Damari added life and laughter and she enjoyed serving the customers. I feel deeply, that the manager made a huge mistake in dismissing her while she was ill. What kind of a manager would dismiss an employee while they are ill?
As I say this, I now have further concerns about another teller name Andrea. I was in the bank and was told that she has injured her knee and will be out of work for about six weeks. I’m sure that Andrea has a doctors note as Damari did, I hope that the manager doesn’t make the same mistake and decides to terminate her and mail her a letter before she returns as he did Damari when he terminated her instead of waiting for her to get well and return to work. Although I would understand if he were let her go as she spends most of her time at work doing her homework , reading and she isn’t available everyday. Andrea will move on, on her own to become a teacher, this is what she goes to school for two days a week. By her going to school, I feel this puts a strain on the staff. I understand that the rest of the tellers along with Kathleen are now having to work six days a week and Kathleen is running a window: she doesn’t have the charm or customer service skills which Damari offered the bank.
We go into the bank often and we rarely see that manager. I feel that it would be in the best interest of the bank to find a permanent manager as soon as possible, one whom appreciates competent employees as Damari. Frankly, I don’t understand how a temporary manager was given the authority to dismiss an employee such as Damari with her wonderful skills , talents and dedication to her job. Therefore my concerns are now for Andrea whom doesn‘t compare with the kind of service Damari offered your customers. As I stated before, the other tellers spend too much time speaking to customers about personal things and shopping on the computer instead of banking conversations. I frequently witness them reading and eating while at their windows: this is very unprofessional.
I feel it would be in the best interest to Citibank to launch a complete investigation on the manager, as you stated would be done and seriously consider removing him from Carmel. In my opinion since he arrived the atmosphere is tense and if I can sense it I am sure that other customers do. This manager has taken all the personal touch and charm out of the bank and I feel the employees fear for their jobs: no one should have to work under those conditions. Keeping this manager at this or any branch is sure to destroy you business. Again, thank you for your letter and taking the time to look into this situation.
Sincerely, Clifford Bagwell
In a letter dated 01/06/06,Citibank states, Pursuant to Section 1089 of the Ca. Unemployment insurance Code, regarding notification of changes in employment status, please be advised that your employment was terminated on 12/13/5 for failure to follow call in procedures
RE Section1089 and other codes which Citibank may have violated
Other codes they may have violated labor code section 208, 226, 226.3,201.25,2441, 2800,2802,2926,2927,6400,3602(6),3852,2922,civil code 47(c)
I was fired on 12/13/05,it states that each employer shall notify the employee immediately, yet I didn't find out until 12/15 as I received my notice of termination via UPS on12/15
When I was fired I was not supplied with "copies of printed statements or materials relating to claims for benefits by Citibank.
Citibank claims that I didn't follow the call-in procedure yet my doctor called on 12/12 & faxed in a notice which stated that I would be out from the 12th-16th.
Jeff claims that he called me to see if I was coming in on 12/13 at 10:25am,almost 2hrs after my shift started, he states that if I wasn't coming in that he wanted me to contact HR to inform them of my extended absence. How does one go from calling to see if I'm coming in & ask me to call HR to Jeff stating & deciding that I should be fired yet in my email to him at 1:45pm on 12/13 it states that the doctor had spoken to Kathleen & faxed in my doctors note which he returns to me w/letter of termination.
How does he justify terminating me? I was out on work related stress and my blood pressure, my doctor called for me to keep my stress & blood pressure down, as far as not calling in I had my doctor call: the call was made for me to protect my health. Why wasn't it stated in my termination letter that I failed to follow the call in procedure. Why does Citibank state to the DFEH that I called in on 11/15 & said that I would be out the rest of the week yet I worked on the that day & the supervisor approved my timecard on 11/22. What else are they not being honest about?
Why are the employees which falsify bank documents & break policy still have jobs?
Reply to Damari Stratford 1291 Ord Grove Ave, Seaside 93955 831-583-9077
CITIBANK IS NOT BEING HONEST WITH DFEH THIS IS A LETTER I SENT MY GOVERNOR
Dear Governor, First Lady and Staff,
I have been awake since 1:05 a.m. I was having a difficult time sleeping again due to my conversation with Ann Lueckeman from the DFEH. Ann and I spoke on 3/08/06, Citibank apparently faxed in their reply on 3/07/06. Ann read to me some of the statements that Citibank made on their reply Citibank states: that I called in on 11/15/05 and that I stated that I would be out the rest of the week, this is a lie!!! I happen to have my time card for the week ending 11/19/05 and it clearly shows that I worked the 15th, I was off the 16th and I worked the 17th and that I was out sick on the 18th and 19th and that the manager approved my time. Citibank states that I refused to work on Saturdays but they don't mention that I, unlike them, was willing to meet them half way. Citibank is not telling the truth. To further support that I was at work on the 15th and 17th I have my journal notes with specific times of things that occurred on those two days. How does an honest and ethical person fight against unethical people who lie? How can I protect myself if I can't afford an attorney and I can't find one to work on a contingency basis? The other night, on TV, my husband and I heard that the government spends 4 million to train wasp and I can't get help from The White House or our Senators or Congress, to defend myself against a corporation which is taking advantage and lying about this situation? The only one that has offered to help is the Governors office and although I appreciate the letter and the call from the Governors office this does not get me an attorney. I have diligently search for assistance to no avail. I am now begging for help, I can't continue to loose sleep and live on anxiety medication; this situation is wearing on me. Again, please, is there anything more that you or our government can do to help my family and I, for this wrongful termination? Why is Citibank lying? I feel like I am going to have another panic attack and I had to resign to taking medication to calm down. This is totally and completely unfair, unjust, wrong and no one should have to go through what Citibank has put my family and I through. I only wonder how many other wrongful termination's Citibank has gotten away with because people are afraid to go up against them or just don't have the money to fight and protect them selves? My husband and daughter are worried about me and so am I.
PLEASE HELP US. I don’t know what else to do and I don’t want to give up. Sincerely. Damari
AS OF 4/21/06 SENT TO THE GOVERNOR
I SPOKE WITH THE EMPLOYEE RELATIONS DIRECTOR OF CITIGROUP TODAY, IT WAS ADMITTED THAT THERE WAS SOME WRONG INFORMATION GIVEN TO THE DFEH REGARDING THE 17th OF NOVEMBER, 2005. CITIBANK WILL BE SENDING IN A "NEW' RESPONSE DUE TO NOT DOING THE INVESTIGATION THOROUGHLY THE FIRST TIME. SO WHAT ELSE ARE THEY NOT DOING THOROUGHLY OR ETHICALLY? DAMARI
I HAVEN'T HEARD FROM YOUR OFFICE AS I WAS TOLD I WOULD BE CONTACTED PLEASE FOLLOW UP WITH ME, THANK YOU
A BETTER EXPLANATION Mother fired by Citibank for no good reason
I am searching for an Employment Attorney willing to work on a contingency basis. I was fired while I was out sick, the managers states in a note added to my personnel file that he had called me to see if I would be coming into work on Dec. 13th but yet with my letter of termination he returned to me the faxed in doctors note, faxed in at 3:44p.m. on 12/12/05 by my doctor, which clearly stated that I would be out from 12/12-12/16/05. He sent me my letter of termination thru UPS, which arrive on 12/15/05. The manager knew that I was out on work related stress and I had a workers comp case pending. The manager states that I was fired for not complying with my warning and I asked how I could comply if I wasn't there to comply so then I get a letter from HR stating that I was fired for failure to follow the call in process but my doctor had called in for me on the 12th due to my stress level and blood pressure. The doctor had spoken to the supervisor on the 12th so they were aware that I wouldn't be in on the 13th and my doctor has the notes on my file that she had made a call in for me. Citibank did not follow their own procedures when they fired me. The EEOC has given me the right to sue and the letter arrived on 2/17/06 so my 90 days have started. The DFEH has also launched their own investigation which Citibank received notice on 1/23/06 and should be responding to the notice any day now, (as of 3/8/06they haven’t responded). I had an outstanding performance history with the bank; I had worked there for 4 years 2 months 6 days. I was the head teller one of the notary and the only Spanish-speaking teller. I have at least 40 letters of support from Citibank clients and I can prove that the manager was not equal with all the employees and although he was aware of the teller cooking the books under the direction of the supervisor none of them were put on corrective action yet I was written up for missing my first Saturday and then again when I missed my 2nd Saturday although I had a doctors note to be out of work due to my blood pressure and stress brought on by the manage and the unfairness in treatment. I had been threaten with job abandonment but at that time I hadn't missed any work long enough to be accused for this. Citibank violated code 132A of the worker comp law and I do have an attorney for that but they are unable to deal with all the other issues. I have a strong feeling that the manager never told HR that my doctor had called in for me nor did he share my doctors note with them, he is to get approval from HR before firing me yet fired me by 4:30 pm or so, I had also emailed him that day at 1:45 pm and explained that my doctor had spoken to the supervisor and faxed in a note, again he was aware that I wouldn’t be in. The manager had called my cell phone and left a message at about 10:25 am, he states that he called because I hadn’t called in a half an hour prior to my shift, which started at 8:30 a.m., why did it take him 2 hours before calling me? And I would bet that the supervisor had made arrangements to have a teller there to cover my shift since my doctor called her. Please help my family and I. Sincerely, Damari
Home 831-583-9077 all calls to this number are screen please leave a message,Cell phone 831-236-0112 Again please help us
Sheri, (4/22/06)
The reason the conversation came to an abrupt ending is due to my frustration with this issue, yes I was upset and angry and my stomach was turning and my chest tightening, I had it get off the phone and calm down and I took some Xanax to calm the anxiety attack which I felt coming on.
As I explained on the phone, I have lost 25 pounds since Jeff Ursino first threaten me with job abandonment, I don't sleep well, I grind my teeth , I have gone to the emergency room for chest pains and a heart doctor and so much more. I have nightmares. From my house I see Highway 1, a constant reminded of the unjust done to me.
I have seen about 10 different doctors and I have been given about ten different medications, I have been seeing a therapist every Friday since Nov. 2005 and I have only missed 2 appointments with him.
My job was very important to my family and I, I have cashed in my IRA and 401k, my pension is on the way, I have sold some stocks at a lost to insure i have funds and all this because I was fired and I don't know how long I will be ill and I have bills. I have spent hours doing paper work for things such as unemployment, disability, activating credit protection dealing with connect one, Met Life. health insurance and more. I don't know how my benefits are being paid, I am not being directly billed and no one sends me the information I requested. I have lost my employee rate on my credit card and I still have to make payments to one of them.
Can you imagine arriving home and seeing a UPS envelope addressed to me from Kevin Squires only to open it and find a letter from Jeff terminating me. Every time I see a UPS truck I feel I will be getting more bad news from Citibank. I did call him, he was with a client, I called his cell phone, he didn't answer, I emailed him, he received it and didn't respond but instead fired me, he lies, he returns my doctors note which stated the time I would be off, they lie to the DFEH, why wasn't the research done thoroughly in the first place, why were both of my write ups sloppy with incorrect dates and information? I wasn't fired for my performance, Jeff just wanted to hurt me more and this was his way.
I was told that the center didn't have enough employees for some one to have Saturdays off but even though the center is short staff he fires me and allows Andrea to be out every Tuesday and Thursday but yet we were short staffed. I can't believe that all of this has happened to me for being ill and yet other employees did things that were more of a risk to the center than being out ill.
I am sorry for raising my voice at you, I hope you understand it isn't directed at you, it is about the situation which Jeff created. I can't deal with more paper work and I don't trust anything Jeff or Kathleen say, they are unethical and will say anything to make themselves look good. At this point I will not be reading the attached Arbitration policy which you attached to this email, I can't deal with more paper work, I will research other avenues and continue to tell my story since I can't sleep.
Met Life denied my long term disability but yet didn't talk to any of my doctors and I need to deal with that and other issues. Thank you for you time, Sincerely, Damari
SENT TO SHERI PAULO 5/01/06 Hello Sheri,
I received your phone call and all I want to know is what is it that we need to speak about?
I don't understand what we have to say to each other. I feel that you and Citigroup will stand behind Jeff Ursino no matter what really happened. Jeff states that he called to see if I was coming in 2 hours after my shift was to begin and if not to call HR. I did call him and emailed him but he ignored that and fired me. He returned my note which stated that I would be out and yet called to see if I was coming in, did he not read the note he returned with my letter of termination and did not Kathleen let him know that my doctor called in at least I did something about it and my doctor and I were just protecting my health. Why did they lie? You said that they got bad information and now will submit a new response to the DFEH why not check your facts first before submitting information to the DFEH? why, because Jeff couldn't tell the truth.
Hope to hear form you soon .
Sincerely, Damari God bless us all
AS OF 5/3/06
CONNECT ONE OF CITIBANK STATES THE I AM ON LEAVE OF ABSENCES WITH PAY AND THAT I HAVE 163 HRS OF VACATION TIME 80HRS OF HOLIDAY PAY AND 96HRS OF SICK TIME YET I HAVE LETTERS WHICH STATES I WAS FIRED ON 12/13/05
05/06/06
IS THIS APPROPRIATE? SEARCHING FOR A CHAIR ON CITIGROUP TIME, I BET HE DOESN’T GET FIRED!AND ALL THE OTHER ONES DOING PERSONAL SEARCHES ON CITIGROUP TIME, I BET THEY DIDN’T GET WRITTEN UP OR HARRASSED AS I DID FOR BEING ILL AND WANTING TO PUT MY DAUGHTER FIRST!!!
[email protected] I am interested in buying a good condition mid-nineteenth century Shaker rocking chair. Ron Walter office - 212-559-4393 home - 212-752-8453 fax- 212-793-3402
On 8/27/2003, X Sananda Maitreya FAN wrote:
I want the old....not the new. The hard vibrator with batteries. Not the soft, supple dildo. What the hell did you smoke, drink, eat or whatever to make your career drop like cow excrament. Your ego get to be so big that it couldn't fit on stage with your band? Yeah you're music is (slash that) WAS cool but you should've kept your mouth shut on your opinion of being a God. We're all Gods....and you're no more special than anyone else. I don't know a soul in the US under 25 that even knows who you are. What the hell happened to you? The name change and all that crap.... I was your biggest fan. Now I think you're an egotistical idiot
[email protected]
Zachary Green :: [email protected] :: 12/5/2005, 6:51 PM
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I am looking for a friend Robert Norton-Edwards who went to the University of Cape Town with me and who was a DJ at the varsity radio. He emigrated to the UK, got married to Vanessa Edwards and worked at Volt Delta Europe. I lost touch with him about 7 years ago and want to re-establish contact so if anyone has an email address or work details or telephone number I would be very grateful! My email address is [email protected]
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We purchased several limited editions at PWG auctions in the late 1970-s - early 1980's (in Cleveland, OH & Philadelphia, PA). Is it possible that you have records of these purchases and, if so, might we have the ability to get duplicate certificates of authenticity?
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Name - Rich Warner Email - [email protected]
Date -- Thursday, 16 June 2005, at 8:25 a.m. From - Brooklyn Will never forget Echo 1973. The experiences and memories came right back to life when I found the site while looking for a counselor position for my daughter. I remember a bat that was trapped in our bunk and Chuck would laugh that we had bats in the belfry. Bonnie Newman, Susie Trachtenberg, Bambi and Diane Wilk- Where are you guys? I had a Dodge Charger that summer that we rode over to Monticello Raceway for the summer concerts (Jay and the Americans, Four Seasons) I found a softball at home that was signed by all the counselors in August, 1973 on the last day of camp! Here are some of the names of my old friends from that wonderful summer: Chris Mitterdorfer, Tim Marx, Mike Bleiberg, Jeff Luxenberg, Paul Achitoff, Mike Tex Stevens, Nathan Hale, Rochelle Morra,, Julie K, Wayne Weinryb, Mike Alaloff, Jon Hauser, Tom Leopold, Susie Trachtenberg, Diane Wilk, Bonnie Newman, Bambi - BJ, Mike Salemi, Richie Eder, and Mark Paschter. If any of you guys are out there, drop me a line.
Regarding your question about Kew Gardens: I have a 1 bedroom in Hampton Court (Metropolitan & Park Lane S) for $179,900 (negotiable) in Kew Gardens. See my add below. Contact me at [email protected] if interested in seeing it! Thanks
Jeff Hack W’87 and his wife, Amanda, recently welcomed their first child, Andrew Lee, on Jan. 8. Jeff was recently named chief financial officer of Citigroup’s Smith Barney unit, while continuing as chief operating officer of Smith Barney’s global private-client division.
Posted 4-15-05Steve Bowers, 1977 - [email protected]
I was stationed aboard the USS Truxtun CGN-35 from 1977 to 1978. We went to Subic Bay twice that I remember. The last time was in July of 78. I rotated off the Truxtun while it was in Subic. I was a RM3.
Date: 06-Nov-2002 REQUEST #1407Name: MichaelE-mail: [email protected]
Subject: Anthony Badalamenti Comments: Hi, My cousin's father was a medic in the army and that he landed in Sicily. That's all he knows about his father, as the father didn't talk about it much.
The medic's name is Anthony Badalamenti. Do you have records of the medic in the 3rd infantry?
I only found three infantries that landed on Sicily 3rd, 1st, and the 45th. The 45th said they have no record of Anthony Badalamenti. Thanks Michael
May 09, 2002 BILL [email protected]>
I AM LOOKING FOR MARGARET LOWE SHE LIVED IN BAY SHORE,N.Y. GRADUATED 1964 I THINK SHE LIVES IN YAHPANK,NY
Name: Allison St. Pierre
Email:[email protected]
IP Address: 199.67.140.75 ()Location: Rocky Hill, CT USA
Date: Friday, April 25, 2003 at 13:01:11Comments:
Just finished Last Dance, Last Chance. You have to pity a man for his inability to see how stupid he really was, you have to pity a mother for not being able to say "I'm Sorry" to a woman who deserves to be apologized to, and you really must applaud a woman whos love of her children, strenght in her friendships, and commitment to health helped her overcome the greatest challenge she will ever have to face. I honor Debbie Pignataro. You go girl. To Ms. Rule: Excellent job on the writing. This is my first book that I have read of yours, and I'm hooked. Now I have to find volumes 1-7. Sign me...a new and forever fan. Allison St. Pierre

You can reach Damari at [email protected]
Why was there "false/wrong information given?What does Citibank expect will happen when the doctors finally release me from disability? Does Citibank plan on giving me my job back? I was offered Cobra and then given my insurance back,why?Why did Citibank wait to the last day to respond to the DFEH and then fax in there reply with false information, they had 45 days or so to get their facts right so who gave them the false information and why? Why didn't they check their facts first?
I was fired then the status was changed to active employee out on short term disability the on leave of absence? Why was my 401k sent to me? If I am an active employee why was the rate changed on my employee credit card? Why did HR tell connect One that they had made an error yet i have a letter of termination and one letter that was sent over night to make sure that I did not return to work on 2/01/06? Why did the bank not follow their own firing procedure? If I was fired why do I have all that vacation, sick leave and holiday time. Why was i sent a check for my vacation time and then they rolled over the time to the 2006 year? Why can't I get an answer to my question regarding who is paying for my medical, dental, vision? Why is Met Life now billing me for premiums for the Life insurance policy which I carry for my husband and also mine?
I WAS AT COSTCO (5/17/06) WITH MY NEIGHBOR AND RAN INTO RICHARD WHITE HE MENTIONED THAT HE HAD GONE INTO THE BANK AND MISSED SEEING ME THERE, WHEN HE ASKED WHERE I WAS THEY TOLD HIM I HAD LEFT CITIBANK TO WORK WITH MY HUSBAND, YET AGAIN ANOTHER LIE FROM THE UNETHICAL EMPLOYEES AT CITIBANK , WHAT AND HOW DO YOU FIGHT AGAINST LIARS? I DO NOT WORK FOR MY HUSBAND, I WAS FIRED AND I AM OUT ON DISABILITY

[Damari]

Thank you for all the comments, good, bad and indifferent.For those of you whom I upset I am very sorry. It has now been about a year and things are moving along, yes I have had some, alot of therapy, this hit me hard but we are moving on. I have 2 attorneys dealing with this. I admitt that I had alot to learn and I have learned that we really don't matter to corporate America it really is just about profits. My fight is not just for me but for all those wrongfully treated by corporate America. I didn't realize that all caps was so offensive, sorry to that one. Life is all about learning and this was a very hard lesson for us. Again, sorry if I offended anyone I am getting better now. As far as the manager goes, he will just have to live with what he has done and I wish him and his family the best hoping that no one ever treats them as he did us. God Bless Us All

[Damari]

PETITION
Please help us by signing our petition regarding …
“Working mothers and Citibank ethics.”
Go to-- http://my.Care2.com/dcsbears
Mother fired, 12 days before Christmas, while out ill on a workers comp pending case, with a doctors note, fired via UPS. Citibank broke California labor codes & some employees at the Carmel branch & Citibank attorneys have not been honest with the Department of Fair Employment & Housing, Department of US Labor, Wage & Hourly Division & their clients in Carmel. Citibank attorneys & employees submitted false information, the lies must stop.
Force Citibank to tell the truth.
Time for Corporate America Ethics Reform.
Stop corporate bullying.
Send me an email if you have any problems signing in at:
( [email protected] or [email protected] )
I strongly feel I was fired for putting my daughter first, please help us reach our goal of 100,000 signatures.
What kind of manager fires you while ill?
Thank you, Damari
How did Citibank make the list of the:
“BEST 100 companies for Working mothers”?????????
Court date is coming up on June 14,2007
All signatures will be forwarded to Senator Barbara Boxer
Why does Citibank lie to clients about firing me? They have told their clients that I left to work for my husband, that I am on vacation, that I don’t work Saturdays, anything but the truth. They even lied about me calling in sick yet my time card proves I was there and my time card was approved by the supervisor.
Please help us, how does the little guy fight Corrupt American Companies?
Working mother and Citibank ethics
Working mother at Citibank, how did they make the list of the “Best 100 Companies for Working Mothers? Fired for putting daughters needs first? Fired via UPS, 12 days before Christmas?
Please forward to anyone that could help us, thanks.
Keep this story going so we can get help. Tell a friend to tell a friend, how else can the little guy fight corporate America?
Please help us if you can along with the Senator, this letter was sent to the Senator:
To: Senator Barbara Boxer, Feb. 18, 2007
Also: Jason J Chan,
1700 Montgomery Street, Suite 240
San Francisco, Ca.94111
Regarding your letter of February 5, 2007, thank you. You state that you will submit a formal inquiry to the U.S. Department of Labor (DOL) and that this may take up to 4-5 weeks. In that case I have taken the liberty to put together this binder as to hopefully speed up the process or maybe just so you have it to review.
In this binder I can show the Jeff Ursino was not fair and equal to all the employees and although others violated policy I am the only one he fired. Citibank did not follow their own policy much less that of the Ca. Labor laws and codes.
I don’t believe that Citibank has been honest with their clients as well as the DFEH and DOL.
Citibank did not submit a new statement regarding 11/15/05 to the DFEH and seem to stand behind their “ bad Information”. I worked the day they state I called in and supposedly stated that I would be out the rest of the week, not true. What else is branch 915, Jeff Ursino, Kathleen Munoz and their corporate attorneys in New York willing to lie about?
Please help us get to the truth about why Jeff really fired me. Why does Citibank stand behind Jeff and his lies and much more? The teller that left about $10,000.00 out is still working their and to my knowledge was not written up and yet this was worse for the bank than me just wanting to care for my daughter and having my doctor call in for me.
Jeff made error after error with the write ups and the firing procedure of Citibank. Why did Jeff Ursino and Citibank feel I wasn’t worthy of an exit interview? Why was I fired at home and not at my place of work? Why was I not given a verbal or informal warning as is Citibank policy?
Please go through or have someone review my notes and proof of their dishonesty. Please help us and all those wrongfully terminated by corporate America.. It is time for Corporate America ethics Reform. Senator Boxer if I had been a bad employee I would have just walked away but I wasn’t. I have letters from clients that truly appreciated me and my work and even Citibank has acknowledge that I was great for the Carmel branch, so why fire me and throw me out like yesterdays trash? Because Jeff Ursino just didn’t like me and was out to fire me from the moment he threaten me with job abandonment before I had ever missed a Saturday. Why? As I told Dr. Lowell and all the other doctors I have seen, “this just doesn’t make sense!” I have spent the past 14 months fighting for my rights, please help me and my family, we need more moms like me that want to be their for their children and teenagers are children.
I look forward to hearing from you, thank you so very much for writing back or at least someone from your office, thanks Jason J. Chan.
Sincerely,
Damari Stratford
Home 831-583-9077 Fax 831-393-9464
AS OF 4/21/06 SENT TO THE GOVERNOR
I SPOKE WITH THE EMPLOYEE RELATIONS DIRECTOR OF CITIGROUP TODAY, IT WAS ADMITTED THAT THERE WAS SOME WRONG INFORMATION GIVEN TO THE DFEH REGARDING THE 15th and17th OF NOVEMBER, 2005. CITIBANK WILL BE SENDING IN A “NEW’ RESPONSE DUE TO NOT DOING THE INVESTIGATION THOROUGHLY THE FIRST TIME. SO WHAT ELSE ARE THEY NOT DOING THOROUGHLY OR ETHICALLY?
THANK YOU
As of 2007 they never submitted the correct information
A BETTER EXPLANATION Mother fired by Citibank for no good reason
I am searching for an Employment Attorney willing to work on a contingency basis. I was fired while I was out sick, the managers states in a note added to my personnel file that he had called me to see if I would be coming into work on Dec. 13th but yet with my letter of termination he returned to me the faxed in doctors note, faxed in at 3:44p.m. on 12/12/05 by my doctor, which clearly stated that I would be out from 12/12-12/16/05. He sent me my letter of termination thru UPS, which arrive on 12/15/05. The manager knew that I was out on work related stress and I had a workers comp case pending. The manager states that I was fired for not complying with my warning and I asked how I could comply if I wasn’t there to comply so then I get a letter from HR stating that I was fired for failure to follow the call in process but my doctor had called in for me on the 12th due to my stress level and blood pressure. The doctor had spoken to the supervisor on the 12th so they were aware that I wouldn’t be in on the 13th and my doctor has the notes on my file that she had made a call in for me. Citibank did not follow their own procedures when they fired me. The EEOC has given me the right to sue and the letter arrived on 2/17/06 so my 90 days have started. The DFEH has also launched their own investigation which Citibank received notice on 1/23/06 and should be responding to the notice any day now, (as of 3/8/06they haven’t responded). I had an outstanding performance history with the bank; I had worked there for 4 years 2 months 6 days. I was the head teller one of the notary and the only Spanish-speaking teller. I have at least 40 letters of support from Citibank clients and I can prove that the manager was not equal with all the employees and although he was aware of the teller cooking the books under the direction of the supervisor none of them were put on corrective action yet I was written up for missing my first Saturday and then again when I missed my 2nd Saturday although I had a doctors note to be out of work due to my blood pressure and stress brought on by the manage and the unfairness in treatment. I had been threaten with job abandonment but at that time I hadn’t missed any work long enough to be accused for this. Citibank violated code 132A of the worker comp law and I do have an attorney for that but they are unable to deal with all the other issues. I have a strong feeling that the manager never told HR that my doctor had called in for me nor did he share my doctors note with them, he is to get approval from HR before firing me yet fired me by 4:30 pm or so, I had also emailed him that day at 1:45 pm and explained that my doctor had spoken to the supervisor and faxed in a note, again he was aware that I wouldn’t be in. The manager had called my cell phone and left a message at about 10:25 am, he states that he called because I hadn’t called in a half an hour prior to my shift, which started at 8:30 a.m., why did it take him 2 hrs before calling me? And I would bet that the supervisor had made arrangements to have a teller there to cover my shift since my doctor called her. Please help my family and I. Sincerely, Damari
Please forward to anyone willing to help us, thanks>
March 8, 2007
To: Senator Barbara Boxer
Also: Jason J Chan,
1700 Montgomery Street, Suite 240
San Francisco, Ca.94111
Dear Senator Barbara Boxer,
On, 3/7/07, I received a notice from Citigroup, HR Communications Unit in New York, regarding Corporate benefits for January 2007, I have included a copy with this fax to you..
I am at the point that I feel this is harassment, why, because Citibank fired me on 12/13/05. It is very upsetting to me every time I receive these notices, it is a constant reminded of everything I have lost due to the unfair and unequal treatment of employees by Jeff Ursino and Citibank. I have already been sent my 401K check due to my termination, I am not contributing to this program so why does Citigroup keep harassing me with these notices. Remember that last October, 2006, Citigroup sent me a letter ( 10 months after firing me) thanking me for 5 years of services and looking forward to 5 more years, why, they fired me. I would have made it to 5 years, as I had no plans to leave the company, but I was fired 12 days before Christmas via UPS. That notice was again just another reminded of what could have been and what I have lost. Please ask Citigroup to stop harassing me with these notices for they are very upsetting to me.
Also, on 3/7/07, I received a letter from your Director of Constituent Services, Eric Jose Vizcaino, regarding a letter I sent you and it states that my concerns are being forwarded to the Director of the California Department of Fair Employment and Housing, Suzanne M Ambrose, for her review. Again, Citibank attorneys explained to the DFEH, how and why they fired me and as I pointed out to you in an earlier letter, Citibank lied to them about me calling in on 11/15/05, Citibank states that I called in and said I would be out the rest of the week. Again this is a lie, I worked that day. Sheri Paulo, Employee Relations manager of New York for Citigroup, had told me that they said this due to being miss informed , when I brought this lie up to her attention, she said that they had been given bad information and that they would correct this by sending in another statement to the DFEH, and to my knowledge they never did and instead stand by their lie. I have sent you a copy of my time card for that week and other information regarding their statement to the DFEH. Why does Citibank tell the DFEH that I was fired and Ronan of the US Dept. of Labor that I am still employed. They also told Ronan that they would send me a letter explaining how I am still employed, but I never received this letter, why? Last June, Citigroup gave me stock, which I refused due to being fired and Chuck Prince office acknowledges receiving my letter explaining that I had been fired and that I should not have been issued the stock and they took the stock back. I have also sent you a copy of that letter in the black binder which I sent to your San Francisco office, did you receive this binder?
Please , Senator Boxer, please help us get to the truth, it is as if Citibank doesn’t know what the left hand is doing or the right hand is doing, please help stop the harassment. How many more letters am I going to be sent by Citigroup informing me of everything I have lost.
Sincerely,