[LTPC-discussions] So you think us newcomers got ths shaft?
ltpc-disc@ltpcalums.com
ltpc-disc@ltpcalums.com
Sun, 13 Jul 2003 22:17:29 -0400
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Dave,
I think you made some good points, but you missed the big one..
The single best benefit of selling LTCI is the renewal stream. I was =
fortunate enough to get started selling LTCI in 1997 and worked real =
hard for about 6 years. That has enabled me to take the last three =
months off without a noticeable change in my income.
It is my opinion that anyone hired since the beginning of 2002 had about =
a 0% chance of vesting and therefore had no chance of renewals. Would =
the job opportunity sounded so terrific if they had told you up front =
that you had no chance at vesting and no chance at a residual income?
Doug
----- Original Message -----=20
From: David Latch=20
To: ltpc-disc@ltpcalums.com=20
Sent: Friday, July 11, 2003 7:54 PM
Subject: [LTPC-discussions] So you think us newcomers got ths shaft?
As one who joined the fold in 2002 I'd like to comment.
=20
Bottom line up front.I feel very concerned for those who've been =
involved and are vested both in terms of dollars and years with the =
company. There's no getting around the point that those people have =
some difficult times ahead, and we all should support each other. But =
as for the new people, we have been given a terrific opportunity and =
it's up to each of us to decide how we're going to embrace that =
opportunity. Let me explain.
=20
I went to the Sep 02 school after Gary Keith gave me the "once over" =
and decided to bring me on. OK, maybe the company had ulterior motives, =
and maybe they planned to exploit us in some goofy way.fine..BFD!
=20
Lets look at the other side of the coin. For those who came onboard =
over the past 6-9 months, we were trained.and trust me, I've seen some =
non-LTPC agents at some seminars recently, including a Haslett =
member..needs help!
=20
We did receive some decent training compared to a lot of independent =
shops out there. Now here we are all "out there flappin" because of the =
closure of the company. For those new people who decided to take their =
new found skills and apply themselves, the world is their oyster. Think =
about it..we can do what we want, the way we want to thanks to the =
training we received, and we have little to no financial risk so we =
could care less what Progeny thinks. =20
=20
As for being lied to.Ok, the leads in my area did suck! (60-80% direct =
mail). All that meant was I had to learn to adapt and make the best of =
the situation. What does that mean..we had to develop NEW SKILLS! Now =
we can use those skills to further our new careers.
=20
Just my 2 cents
=20
Dave L.
=20
=20
-----Original Message-----
From: ltpc-disc-admin@ltpcalums.com =
[mailto:ltpc-disc-admin@ltpcalums.com] On Behalf Of S T Cuscovitch
Sent: Friday, July 11, 2003 3:38 PM
To: ltpc-disc@ltpcalums.com
Subject: Re: [LTPC-discussions] Results of Discussions with =
Progeny/Dan T.
=20
Doug:
=20
The whole affair appears to have been Progeny scripted: from the =
decision to boost the number of agents by +25%; (supposedly) lowering =
the standards of new agent hiring (to include anyone who could breath, =
walk & casually demonstrate an interest in LTC); contract [revision] =
that looked "amateurishly designed" (& marked as such) for an eventual =
close-down.
=20
<...For folks who were hired in 2002 or after, I feel that you have =
been taken advantage of because you had little or no chance to get =
vested, the training that you received was clearly inferior and the =
company stopped investing in proper lead generation activities during =
most of your tenure...>
=20
What was so bad about the training? Agree on the other stuff, =
except...=20
=20
Not <...taken advantage of...> if you are good at card reading.
=20
<...Would he not have gotten more return for Cendant if he sold the =
company?...>
=20
Progeny works in the best interests of Cendant if:=20
=20
[1] Cendant or Progeny (c/p) steadfastly affirm they "own" =
policyholders as clients, AND=20
[2] c/p sells off client [asset] base as a:=20
=20
(a) financial derivative (see a prior post on "securitization"), or,=20
(b) a complete "book-of-business" to an agency of who serve clients, =
or=20
(c) doesn't sell off, but maintains business (this is least likely IMO =
since Dan T expressed what a lousy business it is in the Nashville =
BizJournal). =20
=20
A CFO type (ie a Cendant solution) solution would prefer no customer =
maintenance and an immediate cash-out --therefore preference towards =
2.a. All other LTPC assets (eg. intellectual property) can be easily =
distributed separately/elsewhere if need be.
=20
Whether it's 2.a.,b., or c. (or some variation), be forewarned that =
Cendant may be unsympathetic on action steps [1] - [5] -- so that others =
might try a completely orthogonal approach. If you do strike a chord on =
any of [1] - [5], you may have isolated a problem to "Progeny".
=20
<...potentially fraudulent actions...>=20
=20
FRAUD - international misrepresentation, concealment, or omission of =
the truth for the purpose of deception of manipulation to the deteriment =
of a person or an organization. Fraud is a legal concept and the =
application of the term in a specific instance should be determined by a =
legal expert -- Source: Dictionary of Finance and Investment Terms, =
Barron's, Sixth Edition ISDN 0-7641-2209-6
=20
Doug, great work.
----- Original Message -----=20
From: doug@dougburg.com=20
To: ltpc-disc@ltpcalums.com=20
Sent: Friday, July 11, 2003 12:00 PM
Subject: [LTPC-discussions] Results of Discussions with Progeny/Dan =
T.
=20
After taking the time to consider my requests, Dan T. decided that =
he was NOT willing to make any changes to Progeny's policies regarding =
the shutdown of LTPC.
=20
Two interesting facts came out in the conversation/email dialogue =
with Dan T.:
=20
1. The consideration, discussion and planning of shutting down LTPC =
began in June of 2002. That's right, a FULL YEAR before the shutdown =
actually occured.
=20
2. Progeny took NO STEPS to seek out a buyer and did NOT hire an =
investment banking firm (common practice if a company wants to sell a =
division, etc). All offers made for LTPC were proactively made by other =
parties and Progeny took no active role in selling the company.
=20
MY CONCLUSIONS:
=20
For veterans like myself, we definitely benefitted from our time =
with LTPC. We were trained well, compensated fairly and many of us now =
have successful careers in LTCI sales. As such, I have not been damaged =
nearly as much as folks who were hired in the last year.
=20
For folks who were hired in 2002 or after, I feel that you have been =
taken advantage of because you had little or no chance to get vested, =
the training that you received was clearly inferior and the company =
stopped investing in proper lead generation activities during most of =
your tenure.
=20
I feel that there is a very good chance that LTPC engaged in fraud =
by continuing to tell the agents as late as early 2003 that "all was =
well" and to "stay the course" when in fact plans were being made to =
shut the company down.
=20
As a former participant in Cendant's Employee Stock Purchase Program =
(former stockholder), I would have to question Dan T's actions. Since =
Dan T. is an offer of a publicly traded company is it not his =
responsibility to do what was best for Cendant? Would he not have =
gotten more return for Cendant if he sold the company?
=20
As a former participant in Cendant's Employee Stock Purchase Program =
(former stockholder), I question Progeny's handling of the shutdown of =
LTPC as it relates to Robert Forman and LTC Associates. It is not hard =
to see the apparent conflict of interest that took place -- Robert is =
supposed to be charged with running the LTPC division and "turning it =
around" and yet he knows at the end of the line, he will be in a =
position to market his family owned (I assume) company to LTPC agents =
and have a unique advantage. At the last, Robert should have been =
required to follow the same 18-month non-compete requirement that we =
would have had to follow if we left LTPC. Please understand what I'm =
saying - I think this is an indication that Dan T. did not act in the =
best interests of Cendant. I'm not blaming Robert Forman for anything.
=20
WHERE DO WE GO FROM HERE?
=20
I think that litigation should be an act of last resort. I feel =
there is more value in "calling attention" to these potentially =
fraudulent actions of Progeny/Dan T. than calling out the lawyers. As =
such, here is what I plan to do:
=20
1. I am going to be contacting Cendant Corporate to register my =
complaints and concerns
2. I am going to be contacting the members of the Board of =
Directors of Cendant if I can't get action from the Cendant corporate =
folks.
3. I am going to be contacting large shareholders (pension =
plans/mutual funds) if I can't get action from Cendant's board
4. I am going to be contacting the SEC and other regulatory =
agencies if I can't get action from Cendant's board
5. I am going to be contacting members of the media and =
analysts who cover Cendant if I can't get action from Cendant's board
6. And lastly, I am going to get on with my life... The best =
thing we can all do once we've done all we can do is sell lots of LTCI =
and make lots of money.
=20
As such, I am announcing a change to this mailing list. Please see =
my next message.
=20
Please Note: Everything in the message is my OWN OPINION except for =
the two facts mentioned above. I am not an attorney and I cannot prove =
fraud. I am only suggesting that this needs to be looked into by the =
proper authorities and parties.
=20
Thanks,
Doug
=20
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<DIV><FONT face=3DArial size=3D2>Dave,</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>I think you made some good points, but =
you missed=20
the big one..</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>The single best benefit of selling LTCI =
is the=20
renewal stream. I was fortunate enough to get started selling LTCI =
in 1997=20
and worked real hard for about 6 years. That has enabled me to =
take the=20
last three months off without a noticeable change in my =
income.</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>It is my opinion that anyone hired =
since the=20
beginning of 2002 had about a 0% chance of vesting and therefore had no =
chance=20
of renewals. Would the job opportunity sounded so terrific if they =
had=20
told you up front that you had no chance at vesting and no chance at a =
residual=20
income?</FONT></DIV>
<DIV><FONT face=3DArial size=3D2></FONT> </DIV>
<DIV><FONT face=3DArial size=3D2>Doug</FONT></DIV>
<BLOCKQUOTE dir=3Dltr=20
style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; =
BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px">
<DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV>
<DIV=20
style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: =
black"><B>From:</B>=20
<A title=3DDLatch@Direcpc.com href=3D"mailto:DLatch@Direcpc.com">David =
Latch</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A =
title=3Dltpc-disc@ltpcalums.com=20
href=3D"mailto:ltpc-disc@ltpcalums.com">ltpc-disc@ltpcalums.com</A> =
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Friday, July 11, 2003 =
7:54 PM</DIV>
<DIV style=3D"FONT: 10pt arial"><B>Subject:</B> [LTPC-discussions] So =
you think=20
us newcomers got ths shaft?</DIV>
<DIV><BR></DIV>
<DIV class=3DSection1>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">As one who =
joined the=20
fold in 2002 I=92d like to comment.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">Bottom line =
up=20
front=85I feel very concerned for those who=92ve been involved and are =
vested both=20
in terms of dollars and years with the company. <SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>There=92s no getting around =
the point=20
that those people have some difficult times ahead, and we all should =
support=20
each other.<SPAN style=3D"mso-spacerun: yes"> </SPAN>But as for =
the new=20
people, we have been given a terrific opportunity and it=92s up to =
each of us to=20
decide how we=92re going to embrace that opportunity.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>Let me=20
explain.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">I went to =
the Sep 02=20
school after Gary Keith gave me the =93once over=94 and decided to =
bring me=20
on.<SPAN style=3D"mso-spacerun: yes"> </SPAN>OK, maybe the =
company had=20
ulterior motives, and maybe they planned to exploit us in some goofy =
way=85<SPAN=20
class=3DSpellE>fine<SPAN=20
class=3DGramE>..</SPAN>BFD</SPAN>!<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><SPAN class=3DGramE><FONT face=3DArial =
color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial">Lets</SPAN></FONT></SPAN><FONT=20
face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial"> look at =
the other=20
side of the coin.<SPAN style=3D"mso-spacerun: yes"> </SPAN>For =
those who=20
came onboard over the past 6-9 months, we were trained=85and trust =
<SPAN=20
class=3DGramE>me,</SPAN> I=92ve seen some non-LTPC agents at some =
seminars=20
recently, including a Haslett member=85.needs =
help!<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">We did =
receive some=20
decent training compared to a lot of independent shops out there.<SPAN =
style=3D"mso-spacerun: yes"> </SPAN>Now here we are all =93out =
there <SPAN=20
class=3DSpellE>flappin</SPAN>=94 because of the closure of the =
company.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>For those new people who =
decided to=20
take their new found skills and apply themselves, the world is their=20
oyster.<SPAN style=3D"mso-spacerun: yes"> </SPAN>Think about =
it=85.we can do=20
what we want, the way we want to thanks to the training we received, =
and we=20
have little to no financial risk so we could care less what Progeny =
thinks.=20
<SPAN style=3D"mso-spacerun: =
yes"> </SPAN><o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">As for =
being lied=20
to=85Ok, the leads in my area did suck! (60-80% <SPAN =
class=3DGramE>direct</SPAN>=20
mail).<SPAN style=3D"mso-spacerun: yes"> </SPAN>All that meant =
was I had=20
to learn to adapt and make the best of the situation.<SPAN=20
style=3D"mso-spacerun: yes"> </SPAN>What does that mean=85.we =
had to develop=20
NEW SKILLS!<SPAN style=3D"mso-spacerun: yes"> </SPAN>Now we can =
use those=20
skills to further our new careers.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">Just my 2=20
cents<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: Arial">Dave=20
L.<o:p></o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal><FONT face=3DArial color=3Dnavy size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; COLOR: navy; FONT-FAMILY: =
Arial"><o:p> </o:p></SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DTahoma =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">-----Original=20
Message-----<BR><B><SPAN style=3D"FONT-WEIGHT: bold">From:</SPAN></B>=20
ltpc-disc-admin@ltpcalums.com [mailto:ltpc-disc-admin@ltpcalums.com] =
<B><SPAN=20
style=3D"FONT-WEIGHT: bold">On Behalf Of </SPAN></B>S T =
Cuscovitch<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Sent:</SPAN></B> </SPAN></FONT><st1:date =
Year=3D"2003"=20
Day=3D"11" Month=3D"7"><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">Friday, July 11,=20
2003</SPAN></FONT></st1:date><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"> =
</SPAN></FONT><st1:time=20
Minute=3D"38" Hour=3D"15"><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma">3:38=20
PM</SPAN></FONT></st1:time><FONT face=3DTahoma size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Tahoma"><BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">To:</SPAN></B> =
ltpc-disc@ltpcalums.com<BR><B><SPAN=20
style=3D"FONT-WEIGHT: bold">Subject:</SPAN></B> Re: [LTPC-discussions] =
Results=20
of Discussions with Progeny/Dan T.</SPAN></FONT></P>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"><o:p> </o:p></SPAN></FONT></P>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Doug:</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">The whole affair appears =
to have=20
been Progeny scripted: from the decision to boost the number of agents =
by=20
+25%; (supposedly) lowering the standards of new agent hiring (to =
include=20
anyone who could breath, walk & casually demonstrate an interest =
in=20
LTC); contract [revision] that looked "amateurishly designed" =
(&=20
marked as such) for an eventual =
close-down.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><...For folks who =
were hired in=20
2002 or after, I feel that you have been taken advantage of because =
you had=20
little or no chance to get vested, the training that you received was =
clearly=20
inferior and the company stopped investing in proper lead generation=20
activities during most of your=20
tenure...></SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">What was so bad about =
the=20
training? Agree on the other stuff, except...=20
</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Not <...taken =
advantage=20
of...> if you are good at card =
reading.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><...Would he not have =
gotten=20
more return for Cendant if he sold the=20
company?...></SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Progeny works in the =
best=20
interests of Cendant if: </SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">[1] Cendant or Progeny =
(c/p)=20
steadfastly affirm they "own" policyholders as clients, AND=20
</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">[2] c/p sells off client =
[asset]=20
base as a: </SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">(a) financial =
derivative (see=20
a prior post on "securitization"), or, =
</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">(b) a complete =
"book-of-business"=20
to an agency of who serve clients, or =
</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">(c) doesn't sell off, =
but=20
maintains business (this is least likely IMO since Dan T expressed =
what a=20
lousy business it is in the Nashville=20
BizJournal). </SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">A CFO type (ie a Cendant =
solution)=20
solution would prefer no customer maintenance and an immediate =
cash-out=20
--therefore preference towards 2.a. All other LTPC assets (eg.=20
intellectual property) can be easily distributed separately/elsewhere =
if need=20
be.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Whether it's 2.a.,b., or =
c. (or=20
some variation), be forewarned that Cendant may be unsympathetic on =
action=20
steps [1] - [5] -- so that others might try a completely =
orthogonal=20
approach. If you do strike a chord on any of [1] - [5], you may have =
isolated=20
a problem to "Progeny".</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"><...potentially =
fraudulent=20
actions...> </SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">FRAUD - international=20
misrepresentation, concealment, or omission of the truth for the =
purpose of=20
deception of manipulation to the deteriment of a person or an =
organization.=20
Fraud is a legal concept and the application of the term in a specific =
instance should be determined by a legal expert -- Source: Dictionary =
of=20
Finance and Investment Terms, Barron's, Sixth Edition ISDN=20
0-7641-2209-6</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3D"Times =
New Roman"=20
size=3D3><SPAN style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Doug, great=20
work.</SPAN></FONT><o:p></o:p></P></DIV>
<BLOCKQUOTE=20
style=3D"BORDER-RIGHT: medium none; PADDING-RIGHT: 0in; BORDER-TOP: =
medium none; PADDING-LEFT: 4pt; PADDING-BOTTOM: 0in; MARGIN: 5pt 0in 5pt =
3.75pt; BORDER-LEFT: black 1.5pt solid; PADDING-TOP: 0in; BORDER-BOTTOM: =
medium none">
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">----- Original Message =
-----=20
<o:p></o:p></SPAN></FONT></P></DIV>
<DIV style=3D"font-color: black">
<P class=3DMsoNormal style=3D"BACKGROUND: #e4e4e4; MARGIN-LEFT: =
0.5in"><B><FONT=20
face=3DArial size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">From:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Ddoug@dougburg.com=20
href=3D"mailto:doug@dougburg.com">doug@dougburg.com</A>=20
<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">To:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> <A=20
title=3Dltpc-disc@ltpcalums.com=20
href=3D"mailto:ltpc-disc@ltpcalums.com">ltpc-disc@ltpcalums.com</A>=20
<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Sent:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial"> Friday,=20
July 11, 2003 12:00 PM<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><B><FONT =
face=3DArial=20
size=3D2><SPAN=20
style=3D"FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Subject:</SPAN></FONT></B><FONT=20
face=3DArial size=3D2><SPAN style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">=20
[LTPC-discussions] Results of Discussions with Progeny/Dan=20
T.<o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"><o:p> </o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">After taking the time =
to=20
consider my requests, Dan T. decided that he was NOT willing to =
make=20
any changes to Progeny's policies regarding the shutdown of=20
LTPC.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Two interesting facts =
came out=20
in the conversation/email dialogue with Dan=20
T.:</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">1. The =
consideration,=20
discussion and planning of shutting down LTPC began in June of =
2002. =20
That's right, a FULL YEAR before the shutdown actually=20
occured.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">2. Progeny took =
NO STEPS=20
to seek out a buyer and did NOT hire an investment banking firm =
(common=20
practice if a company wants to sell a division, etc). All =
offers made=20
for LTPC were proactively made by other parties and Progeny took no =
active=20
role in selling the company.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">MY=20
CONCLUSIONS:</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">For veterans like =
myself, we=20
definitely benefitted from our time with LTPC. We were trained =
well,=20
compensated fairly and many of us now have successful careers in =
LTCI=20
sales. As such, I have not been damaged nearly as much as =
folks who=20
were hired in the last year.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">For folks who were =
hired in 2002=20
or after, I feel that you have been taken advantage of because you =
had=20
little or no chance to get vested, the training that you received =
was=20
clearly inferior and the company stopped investing in proper lead =
generation=20
activities during most of your =
tenure.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">I feel that there is a =
very good=20
chance that LTPC engaged in fraud by continuing to tell the agents =
as late=20
as early 2003 that "all was well" and to "stay the course" when in =
fact=20
plans were being made to shut the company=20
down.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">As a former =
participant=20
in Cendant's Employee Stock Purchase Program (former =
stockholder), I=20
would have to question Dan T's actions. Since Dan T. is an =
offer of a=20
publicly traded company is it not his responsibility to do what =
was=20
best for Cendant? Would he not have gotten more return for =
Cendant if=20
he sold the company?</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">As a former =
participant=20
in Cendant's Employee Stock Purchase Program (former =
stockholder), I=20
question Progeny's handling of the shutdown of LTPC as it relates to =
Robert=20
Forman and LTC Associates. It is not hard to see the apparent =
conflict=20
of interest that took place -- Robert is supposed to be charged with =
running=20
the LTPC division and "turning it around" and yet he knows at the =
end of the=20
line, he will be in a position to market his family owned (I assume) =
company=20
to LTPC agents and have a unique advantage. At the last, =
Robert should=20
have been required to follow the same 18-month non-compete =
requirement that=20
we would have had to follow if we left LTPC. Please understand =
what=20
I'm saying - I think this is an indication that Dan T. did not act =
in the=20
best interests of Cendant. I'm not blaming Robert Forman for=20
anything.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">WHERE DO WE GO FROM=20
HERE?</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">I think that =
litigation should=20
be an act of last resort. I feel there is more value in =
"calling=20
attention" to these potentially fraudulent actions of Progeny/Dan T. =
than=20
calling out the lawyers. As such, here is what I plan to=20
do:</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> =
1. I am=20
going to be contacting Cendant Corporate to register my complaints =
and=20
concerns</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> =
2. I am=20
going to be contacting the members of the Board of Directors =
of Cendant=20
if I can't get action from the Cendant corporate=20
folks.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> =
3. I am=20
going to be contacting large shareholders (pension plans/mutual =
funds) if I=20
can't get action from Cendant's =
board</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> =
4. I am=20
going to be contacting the SEC and other regulatory agencies if I =
can't get=20
action from Cendant's board</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> =
5. I am=20
going to be contacting members of the media and analysts who cover =
Cendant=20
if I can't get action from Cendant's=20
board</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial"> =
6. And=20
lastly, I am going to get on with my life... The best thing we =
can all=20
do once we've done all we can do is sell lots of LTCI and make lots =
of=20
money.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">As such, I am =
announcing a=20
change to this mailing list. Please see my next=20
message.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: Arial">Please Note: =
Everything in=20
the message is my OWN OPINION except for the two facts mentioned=20
above. I am not an attorney and I cannot prove fraud. I =
am only=20
suggesting that this needs to be looked into by the proper =
authorities and=20
parties.</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: 12pt"> <o:p></o:p></SPAN></FONT></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Thanks,</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT face=3DArial =
size=3D2><SPAN=20
style=3D"FONT-SIZE: 10pt; FONT-FAMILY: =
Arial">Doug</SPAN></FONT><o:p></o:p></P></DIV>
<DIV>
<P class=3DMsoNormal style=3D"MARGIN-LEFT: 0.5in"><FONT =
face=3D"Times New Roman"=20
size=3D3><SPAN=20
style=3D"FONT-SIZE: =
12pt"> <o:p></o:p></SPAN></FONT></P></DIV></BLOCKQUOTE></DIV></BLOCK=
QUOTE></BODY></HTML>
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