The May Report: 1/16/2012: In case you missed it, Lesley Stahl did a profile on Andrew Mason Sunday night at the top of 60 Minutes while the Giants were bashing the Packers and the profile also gave us a feel for the Groupon culture and office environment; My deal with Kapil –32 days of email exchanges versus about a day or less with Kevin Willer — well, some folks haven’t gotten the memo yet that Thornton and Weinstein (and their world views) are gone; Steve Fisher on Google Adwords and Adsense; Is Gary Slack taking business ethics lessons from Blago?; and 100 things I want to know before I die — continued

Editor and publisher: Ron May, ron@themayreport.com, ronaldmay@aol.com,www.themayreport.com, 773-525-3944.

If you missed an article, go here:
www.tmronline.com/A55951/tmrarticles.nsf/vwFullNewsletter

(ALL REPORTS HAVE NOW BEEN POSTED ON THE TMRONLINE.COM SITE AND THANKS TO PROMINIC FOR FIXING THE PROBLEM)

Otherwise, just go to www.themayreport.com where all the articles are archived and the search function on the new site is now working

Louis Brandeis: “Publicity is justly commended as a remedy for social and industrial diseases. Sunlight is said to be the best of disinfectants.”
________________________________
**************************************

Newly added panelist was recent guest of White House
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Our panel will include:

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Professor Greg Olson, The Walter P. Murphy Professor of Materials, Science and Engineering at Northwestern University and an MIT Alum.

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Guy Cassidy, COO Acme Manufacturing

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Time: 5:30 – 8:00 p.m.

This is your opportunity to directly ask the hard questions to the people that are working on the answers.

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________________________

TABLE OF CONTENTS

The Scoop section:

– This just in: Facebook plans May 2012 IPO for $10B

– I missed the first six minutes but in case you were engrossed in the Giants/Packers game, you missed it too: Andrew Mason and Groupon were profiled by Lesley Stahl as the first piece on 60 Minutes Sunday night — it was puffy and I saw no references to other players in the firm like EL, but 60 Minutes is star struck and does the whole cult of personality thing (gone are the days of Mike Wallace) — nonetheless, I kept saying to myself — “Hey, I know that guy and this is a Chicago story which gives all of us in the tech community bragging rights” and right away I called my mother and told her to watch it — and Andrew, good answer to the honesty question, but as of Sunday night, I could not find the video on the net; They have the other two pieces from last night, but not Andrew

www.cbsnews.com/8300-504803_162-10391709.html?categoryId=10457971&tag=cnav

– I generally get an email response from Kevin Willer in a day or less given that the Weinstein/Thornton era of arrogance and the opaque and the stonewall has been putatively replaced by translucence and alacrity, but some folks still have not gotten that memo — hence it only took me 32 days and about a dozen emails to get the response from Kapil Chadhaury — was he slow walking me, stalling off for Crain’s to go first, what? Meanwhile, I waited patiently, but you know me — I was tempted to put Kapil in the TMR stockade, but I held my tongue — no need to burn bridges unnecessarily since Kapil is basically well meaning within the framework of his true risk averse and bureaucratic nature, but the reason I’m printing all the correspondence I could find is so that you, the readers can make your own assessment; Anyway, all’s well that ends well and no hard feelings; this whole thing started when I saw Kapil on Nov. 17th at the UIC Entrepreneur Bash, but beware Ira weiss, Ron Kirschner, Craig Bradley, and Bob Geras, you’re next

– I wrote to Kapil above that there would be a surprise and the surprise (not in the emails, but here in the report) is that while they thought to add Stuart Larkins to the i2A site, they did not think to remove Jim Tyree who died last March! Lundin came up with a good line which, as usual, I’m using — btw, I put Jim’s name in bold

– And I’ve been sitting on this article since December 30th when Kapil mentioned it in his email and what strikes me is that Lynne Marek of Crain’s and Melissa Harris at the Trib. can’t write an article about investing without spotlighting JB and chew on this: The Firestarter Fund: Based on the $5.7 million raised from 42 people as of the Dec. 14 date of the filing — what??!! It takes 42 people to raise $5.7MM! That is about $135K per person. BTW, Kapil, did you have to convene a committee to tell Lynne Marek that “There’s a lot of good entrepreneurial activity going on in Chicago and the state of Illinois in general,” as you supposedly had to do for my inquiries?

– I’ve been on a tear to find out why all these regulars missed the MIT-EF holiday party and I’ll continue the investigation Tuesday night — there are some responses in this report and we already heard from Jessica Lybeck

– Melissa Harris: Summary of columns

– Crain’s 1/3/2012: Groupon shares tumble below IPO price on worries of future deals

– Steve Fisher: Responding to Ron on why he is not a fan of Google Adwords

– Jeff Willinger: Upcoming event: Are you leveraging SAP Data to its fullest Potential?

– Miscellaneous notes (8 messages)

– Briefly noted: 100 Things I want to know before I die (continued), by Ron May

_________________________________

The Scoop section:

____________________

This just in: Facebook plans May 2012 IPO for $10B

Subject: Facebook plans $10bn May stock offering | Technology | The Guardian
Date: 1/16/2012 3:33:11 P.M. Central Standard Time
From: bconnolly@furthermore.com
To: RONALDMAY@aol.com
CC: ron@themayreport.com

www.guardian.co.uk/technology/2012/jan/16/facebook-10bn-may-stock-offering

___________________________________

I missed the first six minutes but in case you were engrossed in the Giants/Packers game, you missed it too: Andrew Mason and Groupon were profiled by Lesley Stahl as the first piece on 60 Minutes Sunday night — it was puffy and I saw no references to other players in the firm like EL, but 60 Minutes is star struck and does the whole cult of personality thing (gone are the days of Mike Wallace) — nonetheless, I kept saying to myself — “Hey, I know that guy and this is a Chicago story which gives all of us in the tech community bragging rights” and right away I called my mother and told her to watch it — and Andrew, good answer to the honesty question, but as of Sunday night, I could not find the video on the net; They have the other two pieces from last night, but not Andrew

www.cbsnews.com/8300-504803_162-10391709.html?categoryId=10457971&tag=cnav

Eric Savitz, Forbes Staff
Covering the intersection of tech and investing.

+ Follow on Forbes
Tech|1/13/2012 @ 1:41AM |1,452 views
60 Minutes To Profile Groupon CEO Andrew Mason
0 comments, 0 called-out + Comment now
+ Comment now 60 Minutes will air a profile of Groupon founder and CEO Andrew Mason on Sunday night.

Based on a short preview clip now on the television program’s website, reporter Lesley Stahl will spend at least part of the report discussing Mason’s tendency to be a goofball. Note that the story will include a reference to the August 2010 cover story about the company in Forbes.

In a brief story accompanying the clip, the program provides some of the flavor of the piece, which points out many flaws of the local deals company that the Street has been debating for months now. Here’s an excerpt:

“Mason is anything but buttoned down. How many CEOs have a video of themselves on YouTube doing yoga in their underwear in front of a Christmas tree? “I think that if there’s any difference between me and a traditional CEO it’s that I’ve been unwilling to change myself or shape my personality around what is expected,” says the 31-year-old entrepreneur. “Am I as experienced, or mature, or smart as others CEOs? No probably not, but there’s something, I think, very useful about having a founder as the CEO.”

And, he says, it’s working. Groupon, an online site whose members can get daily discounts from local businesses, has recently had the biggest initial public stock offering of any Internet company since Google. On the first day of trading, the barely three-year-old Groupon’s worth jumped as high as $18 billion. It has spawned a cottage industry of “daily deals” imitators, yet it remains firmly and unassailably at the head of the pack.

But the company’s stock price has gone up and down since opening day, dipping at times below its initial pricing. More importantly: Despite earning the title of “the fastest growing company ever” on the cover of Forbes, Groupon has yet to turn a profit as it expands overseas and spends millions in marketing costs. And in the run-up to going public, as Groupon disclosed its accounting methods, some analysts began calling the company “unviable,” even “a Ponzi scheme.” Mason addresses those labels and concerns in the interview. Says Mason, “I think the big thing about Groupon is just people had never seen anything grow quite so fast and that made people dig in and be skeptical.”

_________________________________

I generally get an email response from Kevin Willer in a day or less given that the Weinstein/Thornton era of arrogance and the opaque and the stonewall has been putatively replaced by translucence and alacrity, but some folks still have not gotten that memo — hence it only took me 32 days and about a dozen emails to get the response from Kapil Chadhaury — was he slow walking me, stalling off for Crain’s to go first, what? Meanwhile, I waited patiently, but you know me — I was tempted to put Kapil in the TMR stockade, but I held my tongue — no need to burn bridges unnecessarily since Kapil is basically well meaning within the framework of his true risk averse and bureaucratic nature, but the reason I’m printing all the correspondence I could find is so that you, the readers can make your own assessment; Anyway, all’s well that ends well and no hard feelings; this whole thing started when I saw Kapil on Nov. 17th at the UIC Entrepreneur Bash, but beware Ira weiss, Ron Kirschner, Craig Bradley, and Bob Geras, you’re next

Subject: RE: Kapil, thanks! Who’s Stuart Larkins, what’s his role, & is he replacing you?
Date: 12/30/2011 12:59:22 P.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

My pleasure, Stuart has joined as another Managing Director (Crain’s did a story on I2A this week and his background is listed there). I am still a Managing Director as well but if you’d like he can replace me in whom you contact on I2A….

Kapil Chaudhary
Managing Director
I2A Fund
W. 312.265.1388

——– Original Message ——–
Subject: Kapil, thanks! Who’s Stuart Larkins, what’s his role, & is he
replacing you?
From: RONALDMAY@aol.com
Date: Fri, December 30, 2011 9:49 am
To: kapil@i2afund.com
Cc: ronaldmay@aol.com

Dec. 28, 2011

Kapil,

If you’re back in town, please respond to my questions. The year is coming to a close.

I would appreciate it.

Ron

In a message dated 12/23/2011 1:33:33 P.M. Central Standard Time, kapil@i2afund.com writes:
Ron,

I apologize – as I believe I mentioned, I had to get approval from the remainder of my team (as I seek to do with any press requests we receive) when I saw them this Wednesday but unfortunately ran tight on time so was not able to and had to leave for out of town immediately after. I still would love to address your questions and will follow-up with them next week when I return but know you have been waiting for a while so understand if you need to go ahead with your end of the year report in advance of that.

Sorry again and hope you have a great holiday season,

Kapil

Kapil Chaudhary
Managing Director
I2A Fund
W. 312.265.1388

——– Original Message ——–
Subject: Kapil, I checked emails & see nada from you. Did you send &
what’s the story?
From: RONALDMAY@aol.com
Date: Thu, December 22, 2011 3:51 pm
To: kapil@i2afund.com
Cc: ronaldmay@aol.com
_________________________________
Subject: RE: Kapil, I checked emails & see nada from you. Did you send & what’s the st…
Date: 12/29/2011 2:17:05 A.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

Ron,

I apologize for the delay and below are my responses to some of your questions – as you probably knew in advance, there are some which I cannot answer to you or any other reporter as that is confidential to our LPs.

1. Does the i2A fund have money to invest in new deals?

Yes, I2A is actively reviewing new investments.

2. If so, how much do have left and how many more deals do you think you can do?

I cannot comment on specific numbers here.

3. If you are restricted to follow-on investing, how many deals do you think you can do follow-on investing in, and are you worried about dilution?

We do have significant reserves for our current portfolio companies and look forward to continuing to support them.

4. From your website, the management of the I2A Investment Team is:

Please review the updated website for our team information.

Kapil Chaudhary, Managing Partner and Co-Founder
Ellen Carnahan, Senior Adviser
Jason Felger, Venture Partner and Co-Founder
Are you and Jason Felger getting a management fee on the amount under management? I assume that Ellen as a senior advisor is not taking a management fee. We do not comment on the latter questions.

5. David was a co-founder. Does he still have a financial interest in the fund?

David was critical to I2A being launched and we are very thankful for everything he did for I2A and the Chicago entrepreneurial community in general. As mentioned above, we do not comment on economic questions for the fund.

6. If you feel like taking a stab at this, when, how and why did you go from the original plan which was to focus on true start-ups and shift to a mix of start-ups and piggybacking on Series A deals?

We feel very fortunate to have had the opportunity to partner with all of the companies in I2A’s portfolio. Every round we invested in was the company’s first institutional round of financing. Some of the companies chose to raise greater amounts of financing in their initial rounds than others and overall, we believe it is great validation of their team and concept that when they chose to pursue a higher capital raise that they were successful in doing so.

7. Have there been any exits so far?

Yes, our portfolio company One Llama was sold to UrFilez in October of 2010. We did a press release on this at that time.

8. I know you won’t answer this, but aside from SitterCity, which deal looks like your hottest?

We are thrilled with Sittercity’s growth and feel equally fortunate to be partners with all of the other great companies in our portfolio.

Kapil Chaudhary
Managing Director
I2A Fund
W. 312.265.1388

——– Original Message ——–
Subject: Re: Kapil, I checked emails & see nada from you. Did you send
& what’s the st…
From: RONALDMAY@aol.com
Date: Wed, December 28, 2011 8:27 pm
To: kapil@i2afund.com
Cc: ronaldmay@aol.com

Dec. 28, 2011

Kapil,

If you’re back in town, please respond to my questions. The year is coming to a close.

I would appreciate it.

Ron

In a message dated 12/23/2011 1:33:33 P.M. Central Standard Time, kapil@i2afund.com writes:
Ron,

I apologize – as I believe I mentioned, I had to get approval from the remainder of my team (as I seek to do with any press requests we receive) when I saw them this Wednesday but unfortunately ran tight on time so was not able to and had to leave for out of town immediately after. I still would love to address your questions and will follow-up with them next week when I return but know you have been waiting for a while so understand if you need to go ahead with your end of the year report in advance of that.

Sorry again and hope you have a great holiday season,

Kapil

Kapil Chaudhary
Managing Director
I2A Fund
W. 312.265.1388

——– Original Message ——–
Subject: Kapil, I checked emails & see nada from you. Did you send &
what’s the story?
From: RONALDMAY@aol.com
Date: Thu, December 22, 2011 3:51 pm
To: kapil@i2afund.com
Cc: ronaldmay@aol.com

Subject: RE: Kapil, I checked emails & see nada from you. Did you send & what’s the story?
Date: 12/23/2011 1:33:33 P.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

Ron,

I apologize – as I believe I mentioned, I had to get approval from the remainder of my team (as I seek to do with any press requests we receive) when I saw them this Wednesday but unfortunately ran tight on time so was not able to and had to leave for out of town immediately after. I still would love to address your questions and will follow-up with them next week when I return but know you have been waiting for a while so understand if you need to go ahead with your end of the year report in advance of that.

Sorry again and hope you have a great holiday season,

Kapil

Kapil Chaudhary
Managing Director
I2A Fund
W. 312.265.1388

——– Original Message ——–
Subject: Kapil, I checked emails & see nada from you. Did you send &
what’s the story?
From: RONALDMAY@aol.com
Date: Thu, December 22, 2011 3:51 pm
To: kapil@i2afund.com
Cc: ronaldmay@aol.com

Ron,

Sorry for the continued delay-was hoping to have a call on this with my group but it got delayed till tomorrow.

I will get back to you by Thursday at the latest now.

Thanks,

Kapil

Kapil Chaudhary
Managing Director
I2A Fund
W. 312.265.1388

——– Original Message ——–
Subject: Re: Kapil, I’ve been polite & patient. Mon. it changes. DW era
of arrogance -…
From: RONALDMAY@aol.com
Date: Fri, December 16, 2011 11:43 pm
To: kapil@i2afund.com
Cc: ronaldmay@aol.com

Subject: RE: Kapil, I’ve been polite & patient. Mon. it changes. DW era of arrogance -…
Date: 12/20/2011 11:13:38 P.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

December 16, 2011

Kapil,

OK, that’s fine.

When do you think I can expect a response?

I have three reasons fror pushing the issue.

1. People have been asking me about the status of the i2A fund.
2. I am preparing an end-of-year investment and investment prospect report report for next week.
3. Willer has told me things, but even he did not sound like he knows these things with certainty, so I am checking the facts.

Finally, Kapil, I am baffled by you to some extent.

I don’t know how much you believe in openness, transparency and a democratic approach versus how much you are inculcated with the Thornton/Weinstein values of a closed system marked by rule by the inside crowd in Chicago (an elite clique) believing in restricted access to funding by the average entrepreneur whose name does not happen to be Thiers, Shapiro, Moog or who is not recommended by Henikoff.

I really don’t know the answer to those questions and I’m trying to keep an open mind.

So, I hope I can hear from by Tuesday. do you think that is possible?

Ron

In a message dated 12/16/2011 9:03:54 P.M. Central Standard Time, kapil@i2afund.com writes:
Ron,
I will respond but we’re tremendously busy right now so I’d appreciate your patience but it’s a free world so you’re welcome to do as you’d like.
Kapil
Sent from my Verizon Wireless BlackBerry

——————————————————————————–

From: RONALDMAY@aol.com
Date: Fri, 16 Dec 2011 21:59:48 -0500 (EST)
To: <kapil@i2afund.com>
Cc: <ronaldmay@aol.com>
Subject: Kapil, I’ve been polite & patient. Mon. it changes. DW era of arrogance – over!

________________________________
Subject: Kapil, I’ve been polite & patient. Mon. it changes. DW era of arrogance – over!
Date: 12/16/2011 8:59:48 P.M. Central Standard Time
From: RONALDMAY@aol.com
Reply To:
To: kapil@i2afund.com
CC: ronaldmay@aol.com
___________________________________
Subject: Kapil, I’m looking and still don’t see your response. You can’t be that busy?
Date: 12/16/2011 8:02:17 A.M. Central Standard Time
From: RONALDMAY@aol.com
Reply To:
To: kapil@i2afund.com
CC: ronaldmay@aol.com
__________________________________
Subject: Kapil, here is the email I sent you on November 28, 2011
Date: 12/13/2011 4:19:05 P.M. Central Standard Time
From: RONALDMAY@aol.com
To: kapil@i2afund.com
CC: ronaldmay@aol.com

Subject: Kapil, I have a few simple questions.
Date: 11/28/2011
From:
Reply To:
To: kapil@i2afund.com
CC: ronaldmay

November 28, 2011

Kapil,

I thought you did not respond to my emails.
But I found your email and many others!
For reasons I can’t explain or understand, new mail is ending up in a folder called “Recently deleted.”
I’ve retrieved that mail now.

Based on my conversation with Kevin Willer, I am wondering:

1. Does the i2A fund have money to invest in new deals?

2. If so, how much do have left and how many more deals do you think you can do?

3. If you are restricted to follow-on investing, how many deals do you think you can do follow-on investing in, and are you worried about dilution?

4. From your website, the management of the I2A Investment Team is:

Kapil Chaudhary, Managing Partner and Co-Founder
Ellen Carnahan, Senior Adviser
Jason Felger, Venture Partner and Co-Founder
Are you and Jason Felger getting a management fee on the amount under management? I assume that Ellen as a senior advisor is not taking a management fee.

5. David was a co-founder. Does he still have a financial interest in the fund?

6. If you feel like taking a stab at this, when, how and why did you go from the original plan which was to focus on true start-ups and shift to a mix of start-ups and piggybacking on Series A deals?

7. Have there been any exits so far?

8. I know you won’t answer this, but aside from SitterCity, which deal looks like your hottest?

Any info. would be appreciated.

Ron
773-525-3944
P. S. One more thing that you can read in the report.
_____________________________
Subject: Re: Kapil, plse send your responses this morning since several people have asked me.
Date: 12/13/2011 8:10:42 A.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

Please resend the questions.
Thanks
Sent from my Verizon Wireless BlackBerry

——————————————————————————–

From: RONALDMAY@aol.com
Date: Tue, 13 Dec 2011 06:49:47 -0500 (EST)
To: <kapil@i2afund.com>
Cc: <ronaldmay@aol.com>
Subject: Kapil, plse send your responses this morning since several people have asked me.
_____________________________
Subject: RE: Kapil, don’t forget to get back to me wuth your response.
Date: 12/9/2011 11:01:40 A.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

Thanks for the follow-up and I will be sure to get to it shortly

——– Original Message ——–
Subject: Kapil, don’t forget to get back to me wuth your response.
From: RONALDMAY@aol.com
Date: Fri, December 09, 2011 10:36 am
To: kapil@i2afund.com
Cc: ronaldmay@aol.com
______________________________________
Subject: Re: Kapil, I’ve been having some email problems. Did you get my email?
Date: 12/2/2011 9:39:18 P.M. Central Standard Time
From: kapil@i2afund.com
To: RONALDMAY@aol.com

Yes, busy week but will respond by early next week.
Sent from my Verizon Wireless BlackBerry

——————————————————————————–

From: RONALDMAY@aol.com
Date: Fri, 2 Dec 2011 22:31:39 -0500 (EST)
To: <kapil@i2afund.com>
Cc: <ronaldmay@aol.com>
Subject: Kapil, I’ve been having some email problems. Did you get my email?
____________________________
Subject: Kapil, I have a few simple questions.
Date: 11/28/2011 8:45:40 P.M. Central Standard Time
From: RONALDMAY@aol.com
To: kapil@i2afund.com
CC: ronaldmay@aol.com

November 28, 2011

Kapil,

I thought you did not respond to my emails.

But I found your email and many others!

For reasons I can’t explain or understand, new mail is ending up in a folder called “Recently deleted.”

I’ve retrieved that mail now.

Based on my conversation with Kevin Willer, I am wondering:

1. Does the i2A fund have money to invest in new deals?

2. If so, how much do have left and how many more deals do you think you can do?

3. If you are restricted to follow-on investing, how many deals do you think you can do follow-on investing in, and are you worried about dilution?

4. From your website, the management of the I2A Investment Team is:

Kapil Chaudhary, Managing Partner and Co-Founder
Ellen Carnahan, Senior Adviser
Jason Felger, Venture Partner and Co-Founder

Are you and Jason Felger getting a management fee on the amount under management? I assume that Ellen as a senior advisor is not taking a management fee.

5. David was a co-founder. Does he still have a financial interest in the fund?

6. If you feel like taking a stab at this, when, how and why did you go from the original plan which was to focus on true start-ups and shift to a mix of start-ups and piggybacking on Series A deals?

7. Have there been any exits so far?

8. I know you won’t answer this, but aside from SitterCity, which deal looks like your hottest?

Any info. would be appreciated.

Ron

773-525-3944

P. S. One more thing that you can read in the report.

_____________________________

I wrote to Kapil above that there would be a surprise and the surprise (not in the emails, but here in the report) is that while they thought to add Stuart Larkins to the i2A site, they did not think to remove Jim Tyree who died last March! Lundin came up with a good line which, as usual, I’m using — btw, I put Jim’s name in bold

Subject: Re: What goofballs. They thought to add Stuart Larkins, but they kept Jim Tyr…
Date: 12/30/2011
From: RONALDMAY@aol.com
To: slundin@bigfrontier.org
CC: ronaldmay

I’m printing that!

In a message dated 12/30/2011 3:50:29 P.M. Central Standard Time, slundin@bigfrontier.org writes:

back from the grave – you just can’t get out of those board responsibilities!

On December 30, 2011 at 4:44 PM RONALDMAY@aol.com wrote:

www.i2afund.com/management.asp

Management
I2A Investment Team
Kapil Chaudhary, Managing Director and Co-Founder
Stuart Larkins, Managing Director
Ellen Carnahan, Senior Adviser
Jason Felger, Venture Partner and Co-Founder

I2A Investment Committee
Bob Fealy (I2A Chairman): President & COO, The Duchossois Group
Jules Knapp: Founder, United Coatings
Adam Koopersmith (Co-Founder of I2A): Partner, New World Ventures
Jeff Bennett: Managing Director, Merrick Ventures
Raymond Spencer: Former CEO of Capgemini Financial Services and Founder/CEO of Kanbay
John Calamos: Chairman and CEO, Calamos Investments
Fund Members
J.B. Pritzker, Managing Partner, The Pritzker Group (Co-Founder of I2A)
Michael Ferro, Jr., Chairman and CEO, Merrick Ventures
Craig Duchossois, CEO, The Duchossois Group
Jules Knapp, Founder, United Coatings
John Calamos, Chairman and CEO, Calamos Family Partners
Raymond Spencer, CEO, Capgemini Financial Services
Larry Levy, Founder and Chairman, Levy Restaurants
James Tyree, Chairman and CEO, Mesirow Financial
Ralph Wanger, President, Acorn Fund
James Gray, Chairman of the Board, Options Express
Mitchell Saranow, Chairman, The Saranow Group
Bob Geras, President, LaSalle Investments
Mike Keiser, Co-Founder, Recycled Paper Greetings
Jack Keller, The Keller Group
Joe McInerney, Banner Capital
National City Equity Partners
Mesirow Financial Holdings
Illinois Institute of Technology (IIT)
Wexford Science & Technology
Technology Development Account (Illinois State Treasurer)
Illinois Department of Commerce and Economic Opportunity
Strategic Partners
Chicagoland Chamber of Commerce
Chicagoland Entrepreneurial Center

_______________________________

And I’ve been sitting on this article since December 30th when Kapil mentioned it in his email and what strikes me is that Lynne Marek of Crain’s and Melissa Harris at the Trib. can’t write an article about investing without spotlighting JB and chew on this: The Firestarter Fund: Based on the $5.7 million raised from 42 people as of the Dec. 14 date of the filing — what??!! It takes 42 people to raise $5.7MM! That is about $135K per person. BTW, Kapil, did you have to convene a committee to tell Lynne Marek that “There’s a lot of good entrepreneurial activity going on in Chicago and the state of Illinois in general,” as you supposedly had to do for my inquiries?

www.chicagobusiness.com/article/20111228/NEWS01/111229854/chicago-funds-i2a-firestarter-and-hyde-park-gear-up-to-bankroll

Chicago funds I2A, Firestarter and Hyde Park gear up to bankroll startups

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By: Lynne Marek December 28, 2011

Today’s Headlines
12/30/2011

•Walgreen’s plans for Express Scripts loss with spat unresolved
•Quinn signs law that tweaks smart grid
•Ex-Bear Orton sues Chicago firm over investment advice
•Tribune Co. bankruptcy likely to last into summer
•Morton’s steakhouse chain buyout begins
•Fitch cuts Sears’ credit rating further into junk
.

View All of Today’s News Headlines.

(Updated at 6 p.m.)

(Crain’s) — Three Chicago venture capital funds led by prominent entrepreneurs and investors, including J. B. Pritzker, ShopLocal LLC founder Brian Hand and investors with Hyde Park Angels, are raising new rounds of funds, promising more money for startups in the city and beyond.

The I2A Fund LLC — backed by Mr. Pritzker, who invests on behalf of his wealthy family; Craig Duchossois, owner of the Duchossois Group; and Merrick Ventures LLC CEO Michael Ferro, among others — has closed on the first stage of fundraising for a second fund that is ultimately targeting about $35 million to $40 million in capital, according to sources familiar with the fundraising. It has raised less than half that amount in the first stage, they said.

I2A Chairman Robert Fealy, who is also president of the privately held conglomerate Duchossois Group, confirmed that the fund has finished the first stage of funding, but he declined to comment on details, citing federal laws that restrict soliciting investors for such funds. Investors in the second fund are likely to include many of those who were in the first. I2A Managing Director Kapil Chaudhary also declined to comment on the details.

“There’s a lot of good entrepreneurial activity going on in Chicago and the state of Illinois in general,” Mr. Chaudhary said.

Another group of venture capitalists has come together to form Chicago Founders Capital LLC and raised $5.7 million from 42 investors for FireStarter Fund LLC, according to a filing made with the Securities and Exchange Commission.

The Chicago Founders angel investor fund is backed by prominent Chicago entrepreneurs, including Mr. Hand, Viewpoints Network LLC CEO Matt Moog, OkCupid CEO Sam Yagan and SurePayroll Inc. co-founder Troy Henikoff, according to the filing.

Mr. Hand declined to comment and the others couldn’t be reached.

The two new funds are likely to see presentations from some of the same Illinois entrepreneurs seeking investments, but they won’t necessarily be in competition for placing money because companies often accept investments from more than one fund.

I2A invests mainly in Illinois companies that are in the early stage of their development, providing seed capital for getting them off the ground. It focuses on technology, clean-energy, education, new media, consumer and retail.

Stuart Larkins, formerly a top executive at Chicago-based Performics Inc. (later absorbed into Google Inc. and Publicis Groupe SA), was hired to be managing director and lead fundraising for I2A’s second fund. He declined to comment.

I2A is closing on the first leg of the capital for the second fund now, partly because it was eager to make investments, according to the people familiar with its activity. I2A earlier this month made an investment in Chicago-based Power2Switch Inc., which helps commercial and residential consumers compare and choose energy providers.

I2A closed its first $10-million fund in 2008 and invested that money in 13 companies, 11 of which are in Chicago, including Viewpoints, SitterCity Inc., SoCore Energy LLC and YCharts Inc. That fund is no longer making new investments.

When reached last month to talk about the Firestarter fund, after an initial Crain’s report, Mr. Yagan said that the fund will distinguish itself from other angel investing groups by making it easier for entrepreneurs to seek money from it and by providing those applicants with faster responses. It wasn’t clear whether that fund will have a geographic or industry focus.

Based on the $5.7 million raised from 42 people as of the Dec. 14 date of the filing, individuals in that group are contributing about $135,700 each, on average, with this initial investment.

That fund also is unique in that its financial backers are mainly entrepreneurs themselves who know the ropes of starting a business and funding startup operations.

Meantime, Hyde Park Venture Partners Fund LP, strategically linked to early-stage investors group Hyde Park Angels, disclosed that it has raised $13.55 million of a targeted $25 million from 48 people. That fund is led by Hyde Park Angels Ira Weiss and Guy Turner. The fund was disclosed in an SEC filing on Tuesday.

Mr. Weiss declined to comment.

The fund says on its website that it makes $750,000 to $2.5 million investments in Midwest technology companies, especially in Chicago, at their early stage of development.

Read more:www.chicagobusiness.com/article/20111228/NEWS01/111229854/chicago-funds-i2a-firestarter-and-hyde-park-gear-up-to-bankroll-startups#ixzz1i39pj7QB
Stay on top of Chicago business with our free daily e-newsletters

___________________________________

I’ve been on a tear to find out why all these regulars missed the MIT-EF holiday party and I’ll continue the investigation Tuesday night — there are some responses in this report and we already heard from Jessica Lybeck

Subject: Nancy, I’m looking into why these regulars were not at the Holiday party.
Date: 1/1/2012
From: RONALDMAY@aol.com
To: nancy@knowledgeshift.net
CC: twallhaus@gmail.com, Timothy.Curley@UBS.com, bflanagan@smartdecisionllc.com, ronaldmay

Philippe Lavie
Tom Lemanski
Richard Cross
Collin Canright and his wife
Roy Klein
Nural Eusufzai
Bob Brill
Ray Markman
Len Bland
Kent Vincent
Scott Miller
Robert Sansome
Jessica Lybeck
Erin Hopmann
Jack Quill
Monica Metzler
Robert Davidson
Bruce Montgomery
Preston Urka
Jason Jacobsohn
Ray Genellie
Rich Kooy
Robert Harney
Avery Cohen
Bob Lepkowski
Steve Swibel
Paul Fricke
Bill McDonald
Tom Gorman
Lanny Feder [He was out of town]

__________________________________

May here. It turns out that Richard Cross and Lanny Feder were out of town, and Bill McDonald had intended to go, but had a last minute change of plans. It is clear to me now that Bob Brill has dumped MIT-EF from his schedule. I have no idea what Lavie and Canright are going to use as an excuse. Ditto for Scott Miller who should show up Tuesday night given his interest in manufacturing.

________________________________

Melissa Harris: Summary of columns

Subject: e-confidential: Ones to Watch in 2012 and more
Date: 1/9/2012 1:42:07 P.M. Central Standard Time
From: mmharris@Tribune.com

Recently from Chicago Confidential

1/8: Ones to Watch in 2012

CME’s Terrence Duffy, new Sun-Times owner Michael Ferro; Deputy Mayor Mark Angelson; former Mayor Richard Daley; Julie Hamos, director of the Department of Healthcare and Family Services; Kraft exec Anthony Vernon; Sears’ Eddie Lampert; and Caterpillar’s Doug Oberhelman

Breaking news: And now let’s add to that list: Bill Daley, who has resigned as White House chief of staff and is coming back home to Chicago

12/25: The Innovators: Khalil Amine, Dan Malven and Neal Sales-Griffin

Three Chicago teams who will shape the future of transportation, education and healthcare in the United States.

12/22: MarArthur Foundation searching for its own genius to replace Daniel Socolow

Plus, Nora Daley-Conroy and Donna Zarcone express interest in Economic Club post; Michael Alter signing up corporate sponsors for Chicago Sky; Derek Douglas joines UofC from White House

12/18: Fortune’s Fate: Pritzker Family Agreement to divide billions comes to a close

With Tribune reporter Julie Wernau

12/15: James Pritzker to restore, open Emil Bach House

Plus, Suzanne Malec-McKenna joining Jasculca Terman

12/11: Penny Pritzker launching private equity firm

Plus, Mark Angelson, Gregory Hummel ink Sara Lee deal; some traders pushing for more regulation in wake of MF Global

12/8: Some execs are being warned away from G-8/NATO, Christie Hefner says

Plus, Nick Rosa’s Sandbox joins the big leagues of VC; Chicago delegation heads to Paris, meets Google’s Eric Schmidt

12/4: Liam Krehbiel, whose family founded Molex, launches nonprofit

Plus, the Lavin Family and the demise of Alberto-Culver

12/1: Power2Switch hits fundraising target; Michael Polsky joins board

Plus, CF Industries, CNA Financial and LKQ still have no women on their boards, Chicago Network says; Shahid Khan buys Jacksonville Jaguars

11/20: District 300 Superintendent Michael Bregy goes on the offense against Sears

11/20: Sears’ bad bet on Hoffman Estates business park is what brings them back to ask for more with Tribune reporter Dan Hinkel

11/13: Tech entrepreneur Jessica Kim moves to Boston

Plus, Chicago’s delegation to the OECD in Paris; and Keith Ross Jr., formerly of Getco, on his new trading platform

11/10: Chicago Ideas Week ditches TED, launches Edison Talks

Plus, stock tips from Invest for Kids (Michael Elrad, Leon Cooperman, etc.)

11/9: CME Group, tax breaks and clout.

11/6: John Bryan steps down as chairman of Millennium Park Inc.

New Addition to the Business Desk

Last week the Tribune welcomed Peter Frost as its new healthcare business reporter. Peter comes to us from the Daily Press in Hampton Roads, Va., a Tribune paper. It’s a return to the Midwest for him. He grew up in Minnesota. Peter can be reached at pfrost@tribune.com.

Trib Nation

Here are some upcoming Tribune events of interest to business leaders. You can find more information at: www.chicagotribune.com/news/tribnation/

1/17: Facebook & Privacy: What you need to know

1/24: Understanding Facebook’s Advanced Features

2/6, 2/13, 2/10: Social Media for Business: Part I-III

2/8: Chicago Forward on Public Safety with Steve Pemberton, Garry McCarthy and Toni Preckwinkle

Looking forward to 2012!

E-Confidential is distributed to people I have met, interviewed or corresponded with no more than once a month. To unsubscribe, e-mail chicagoconfidential@tribune.com.

Melissa Harris
Business Columnist

Chicago Tribune

312-222-4582 (w)

312-375-4021 (m)

Twitter @ChiConfidential

_____________________________

Crain’s 1/3/2012: Groupon shares tumble below IPO price on worries of future deals

Subject: Groupon shares tumble below IPO price on worries of future deals | Crain’s
Date: 1/3/2012 4:07:06 P.M. Central Standard Time
From: bconnolly@furthermore.com
To: RONALDMAY@aol.com

www.chicagobusiness.com/article/20120103/NEWS07/120109980/groupon-shares-tumble-below-ipo-price-on-worries-of-future-deals

_______________________________

Steve Fisher: Responding to Ron on why he is not a fan of Google Adwords

Subject: Re: Steve, what are the issues with Goggle Adwords? Your pros and cons?
Date: 1/9/2012 1:29:06 P.M. Central Standard Time
From: sfisher@TheFisherMediaGroup.com
To: RONALDMAY@aol.com

Ron,

As promised, below is my response to why I think buying Adwords is a total waste, but before we get there I need to clear up some confusion you have. There are Google Adwords and then there is Google Adsense. People get the terms mixed up constantly. One costs you money and one makes you money. What Robbie Abed wants to do is put Google Adsense on your site to make you money.

Adsense is Google’s way of monetizing your site for your benefit and most importantly, theirs. They put ads on your site in areas that you designate and when people visit your site, you make money. The great thing about Google Adsense is that you can customize the ads to the look of your site and can also choose the most targeted ads.

Is this easy money and the greatest thing ever? Of course not, but you will make some money for doing nothing and Google will make money by selling your traffic. It is a win-win.

As far as Google Adwords is concerned, I do not like these at all. Google Adwords is Google’s way of getting you to the top of the search for a certain keyword immediately. This process is called PayPerClick and exists in one form or another on all the search engines. The way it works is that you open up a Google Adwords account and then you bid on the keyword that you want. These can cost anywhere from a few cents to several dollars per click depending upon the competition.

On the upside, you only pay when they click on your ad. On the downside, even if you are at the top of the paid search section it is relatively worthless unless someone clicks on it and then it costs you money.

The only time I would ever use Google Adwords would be when I was just starting an advertising campaign and wanted to get some quick site traffic while I was spending the 3-6 months to get my site on Google Page One organically for my chosen keywords.

The second that I got there organically, I would dump Adwords immediately.

Here’s why:

Google Adwords cost a lot of money.

The second you stop paying, your PPC advertising disappears.

Adwords does nothing for your page ranking for any of your keywords or your site.

For every single one of my Clients, my mission is to get them on Google Page One organically for their top search terms. This process takes 3-6 months, but is a helluva a lot cheaper, more effective and longer lasting (sticky) than PayPerClick. If you have a legitimate site and your objective is to build qualified traffic that really has an interest in your content, then you have to take the time to do it right. There aren’t any shortcuts.

Don’t just take my word for it though take Google’s own word for it. I compiled the analysis below using Google’s own data:

Regarding PPC (i.e. Google Adwords) and Organic Search, here is what has happened over the past 3 years:

A little more than 3 years ago, 88% of all the clicks on a page went to PayPerClick (I am using Google Adwords as the Illustration). Then the customer got smarter and began to develop Banner Blindness and now the PPC ads on top only get 2-3% of the hits and the ones on the sidebar get 1-2%.

One could argue that this is good because your ad stays up longer and costs you less. I contend that you get less traffic and fewer clicks through, so you have to work that much harder and are wasting your time. Additionally, as I stated above, the PPC does nothing for your SEO or organic search rankings and costs you a lot of money you could spend much more wisely.

What properly done, SEO can rank your company organically on Page One of Google for your most important search terms. The key is to get on Google Page One for your top relevant and most heavily trafficked search terms. Although this takes considerably longer than buying your search terms, the results are long term. Since there are only 10 – 15 spots and there are hundreds of thousands of listings competing for those spots, you need to be very targeted in your approach.

The advantage to getting listed organically is as follows:

First, you don’t have to pay when they click on you.

Second, the first organic ranking gets 40% of all the clicks on the page, the second ranking gets 20%

and the third one gets about 15%. Even the last organic ranking on the page gets 2-3% which is about what

the PPC will get at the most.

I could go on, but you get the idea.

In summary I just pulled these results tonight for you from some random Google Pages. Here is the reality of the Google search situation as of today, 1/8/12:

(The other search engines follow suit as best they can, although some are more lenient, we use Google as the standard.)

Obviously there is some variation, but I have found this to be a pretty accurate guide and the results come directly from Google’s own analysis.

The top 3 paid results on a Google search page get 2-3% of the results.

The sidebar paid results get 1-2%

The first organic result gets about 40% of all the clicks (that is 21X more than the #1 pay per click) and it is FREE.

The second organic result gets 11-18% (that is 10X more than the #1 paid) and again, it is FREE.

Organic result #3 averages about 7-15% (500% better than #1 paid) and is FREE.

 Organic results #4-9 get 2% each

(ties #1 paid) and is FREE

Organic result #10 averages 3-4% (Beats #1 paid. Why, I do not know) and is FREE.

Source: The above results come from Google’s own analysis from the # of hits and the Google traffic estimator.

In other words, if 100 people perform a search on Google, only 5 will click on a paid listing. The other 95 people will click the organic listings.

Ron, I hope this answers your question. In the meantime, I agree with Robbie that you should put Google Adsense on your site and make a little money, I also happen to think that Adsense doesn’t take the potential of your site far enough.

All of us that read your postings know that we have to suffer through the drivel to get to the meat, but it is worth it when we get there. You also have us captive because unfortunately for us, when it comes to Chicago technology, you are the only game in town.

That means that reaching your audience (us) would be extremely valuable to several companies looking to reach your visitors. This is worth a lot of money to you in the form of sponsorships. I would strongly recommend you look into selling some advertising sponsorships on your site.

As a case in point, Robbie Abed at rawdesinr.com built your site so that he could advertise on it for free. His feeling is that if he can put up with you long enough to build your site; your readers will know that he can build anything. On the other hand, I passed on building your site when your brother approached me a few years ago because I didn’t have the patience.

Bottom line Ron, don’t waste your money on adwords, but do install adsense.

All the best,

Steve

____________________________

Jeff Willinger: Upcoming event: Are you leveraging SAP Data to its fullest Potential?

Subject: Are you leveraging SAP Data to its fullest Potential?
Date: 1/3/2012 2:32:53 P.M. Central Standard Time
From: jwillinger@rightpoint.com
To: RONALDMAY@aol.com

Are you leveraging SAP Data to its fullest Potential? Come to my BI event February 10, free in Chicago at Microsoft offices. Learn to unleash the potential of your SAP data with HP Fastrack Liberator and easy to use, lower cost Microsoft Business Intelligence tools.

If your organization already runs SAP, here are a few facts to consider:

Fact #1: There is valuable intelligence buried within your SAP data.

Fact #2: If you were able to easily and cost-effectively get access to your SAP data, you would be able to replace costly, manual reports and achieve a clear view of performance.

Fact #3: Mining SAP data can be very expensive, difficult to use and time consuming. Many of our customers want to get their hands on the data, mold it and use in a relevant, pertinent and timely fashon.

Fact #4: Your organization most likely already owns Microsoft Business Intelligence tools that are cost-effective and easy to use.

Fact #5: Organizations today are leveraging self-service Microsoft Business Intelligence tools to cost-effectively mine their SAP data that to gain valuable intelligence buried within SAP.

Register here: www.clicktoattend.com/invitation.aspx?code=158769&wa=wsignin1.0

Best regards,

Jeff

……

Jeffrey S. Willinger
312.622.2300 cell

jwillinger@rightpoint.com
626 W. Jackson Street Suite 100
Chicago, Illinois 60661
(312) 920-8390 office
(312) 920-8384 fax
www.rightpoint.com

www.linkedin.com/in/jeffwillinger

twitter.com/jwillie

www.facebook.com/jeffwillinger

www.meetup.com/sharepoint

_________________________________

Miscellaneous notes (8 messages)

_________________

#1: Subject: Re: Bill, have you dropped out of MIT-EF? Why didn’t you go to the holiday party?
Date: 1/3/2012 12:24:05 P.M. Central Standard Time
From: billnd58@comcast.net
To: RONALDMAY@aol.com

On 1/1/2012 2:49 PM, RONALDMAY@aol.com wrote:

Hi Ron,

I registered for the MIT-EF holiday party, but another event came up at the same time which caused me to miss MIT-EF.

Happy New Year!

Bill
+++++++++++++++++++++++++++++++
#2: Subject: RE: Richard, why didn’t you attend the MIT-EF Hol. party? What gives man? Happy NY!
Date: 1/1/2012 4:12:48 P.M. Central Standard Time
From: richard.n.cross@bankofamerica.com
To: RONALDMAY@aol.com
CC: twallhaus@gmail.com, Timothy.Curley@UBS.com, bflanagan@smartdecisionllc.com

Ron,

I was out of town.

I’m back now, so I expect I’ll be at the next MIT-EF event.

Richard

From: RONALDMAY@aol.com [mailto:RONALDMAY@aol.com]
Sent: Sunday, January 01, 2012 3:21 PM
To: Cross, Richard N
Cc: twallhaus@gmail.com; Timothy.Curley@UBS.com; bflanagan@smartdecisionllc.com; ronaldmay@aol.com
Subject: Richard, why didn’t you attend the MIT-EF Hol. party? What gives man? Happy NY!
+++++++++++++++++++++++++++++++++
#3: Subject: Re: Lanny, you never miss an MIT-EF party. Where were you last night?
Date: 12/21/2011 10:25:06 P.M. Central Standard Time
From: lanny@protectiveipservices.com
To: RONALDMAY@aol.com

Ron,

I didn’t know that I was so noticeable. I am on vacation out of town.

Happy Chanukah and a happy, HEALTHY, and prosperous New Year.

Lanny Feder
Protective Intellectual Property Services LLC
847-780-7477
Lanny@protectiveIPservices.com

Connected by DROID on Verizon Wireless

—–Original message—–

From: RONALDMAY@aol.com
To: lanny@protectiveipservices.com
Cc: ronaldmay@aol.com
Sent: Thu, Dec 22, 2011 03:03:18 GMT+00:00
Subject: Lanny, you never miss an MIT-EF party. Where were you last night?

+++++++++++++++++++++++++++++++

#4: Subject: Re: Kathryn, as an art expert, what do you think of Howard Tullman’s taste in art?
Date: 12/30/2011 9:50:10 P.M. Central Standard Time
From: kathryn71@gmail.com
To: RONALDMAY@aol.com

chicagoartcollector.com/2010/05/04/howard-tullman-and-flashpoint-academy/

I wrote about it (via Claire) and I ghost wrote this paragraph. (the article is somewhat corrupted and for some reason, the pre-edited version is up…), but the thought was..

True collectors make a statement; and the the art collection reflects the man. Only a living, breathing machine could do what Howard Tullman does on a daily basis. And when comparing his make-your-own-rules career to his art collection, which is far from the establishment’s aesthetic, you see that this collection does what we ask collectors to do — think for themselves. When a collector does that, their collection can be read as the cumulative of a psychoanalysis, self-portrait, and a branding statement. Looking at the art collection through that lens, the reflection is exciting. Tullman’s art collection and life choices are both wide-reaching, energetic, and fearless – matching the life of man completely at ease in a life of sensory overload.

So that’s my professional and on the record analysis – they match. Tullman is an independent. I get a big kick out of his newsletters, he’s always on a new jag, and so is the art collection. At least he really likes art and buys what he likes. In reality, most wealthy people buy what their advisor tells them to.

How are you? Happy holidays. You’re wordpress site makes me sad. Look at this nice theme, it could look like this in one hour-www.organicthemes.com/themes/magazine-theme/

K

On Fri, Dec 30, 2011 at 6:16 PM, <RONALDMAY@aol.com> wrote:

tullman.blogspot.com/2011/12/tullman-collection-artwork.html?spref=fb

My book is out! The Essential New Art Examiner

Chicago Art Magazine
TINC Magazine (tech)
DIY Film

++++++++++++++++++++++++++++++

#5: Subject: Merry Christmas
Date: 12/24/2011 10:05:09 P.M. Central Standard Time
From: rwillis@isoytech.com
To: ronaldmay@aol.com

Ron, have a good family Christmas and enjoy your nieces. They will love their uncle no matter what you got them. How about a subscription to the May Report?
All the Best
Ray

Sent from my iPhone
Raymond Willis
raw38@earthlink.net
847-651-2251 (cell)
118 Brookbridge Rd.
Trout Valley, IL 60013

President
iSoy Technologies Corp.
rwillis@isoytech.com=

++++++++++++++++++++++++++++++++

#6: Subject: Is the Charlie Rose site down on your end as well?
Date: 12/29/2011 11:15:22 P.M. Central Standard Time
From: phil@doejo.com
To: RONALDMAY@aol.com

www.charlierose.com/

–

Philip Tadros
708.655.6753
philcoextra.com

Doejo / we fuel ideas that grow
doejo.com

+++++++++++++++++++++++++++++++++

#7: Subject: RE: David, I didn’t know you went to Wash U. I’m from St. Louis. What did you study?
Date: 12/18/2011 5:38:39 P.M. Central Standard Time
From: davidcarman@sbcglobal.net
To: RONALDMAY@aol.com, dcarman@bnchicago.org

I was in Arts & Sciences and majored in political science. Great school.

From: RONALDMAY@aol.com [mailto:RONALDMAY@aol.com]
Sent: Sunday, December 18, 2011 2:30 PM
To: dcarman@bnchicago.org
Cc: ronaldmay@aol.com
Subject: David, I didn’t know you went to Wash U. I’m from St. Louis. What did you study?

+++++++++++++++++++++++++++++++

#8: Subject: Happy Holidays, Ron!
Date: 12/17/2011 2:28:41 A.M. Central Standard Time
From: cstack@2ci.com
To: RONALDMAY@aol.com

Hi Ron!

Just thinking about you and hope you are feeling well!

I finally found a successful treatment for my psoriasis, and I am quoted in
the Wall Street Journal (although, sadly, not about my business ventures!)

Please see: online.wsj.com/article/PR-CO-20111129-906304.html

The XTRAC excimer laser, developed by Photomedex, is a very impressive
system! I’ve been treated with just about everything available, but the 308
nm wavelength UV-B laser is remarkable for its precision and effectiveness.
Photomedex is a company that bears watching.

I highly recommend the XTRAC to any TMR readers who have this damned
condition (2% of the population), please call Dr. Taub with Advanced
Dermatology in Lincolnshire for more information. Fantastic doctor!

Happy Chanukah, and all the best, we’ll see you in 2012!

Best, Chuck

Charles R. Stack, MPH
Vice President
Constant Compliance Inc.
140 South Dearborn Street
Suite 411
Chicago, Illinois 60603 USA
Cell phone (630) 841-8706
Fax (312) 782-0936
Website: www.2Ci.com/

___________________________________

Briefly noted: 100 Things I want to know before I die (continued), by Ron May

* Doejio has moved to the 2nd floor across the street, but I will have a hard time dropping by since the freight elevator is not working now; but thanks to the two guys who were smoking outside and the guy who was kind enough to wheel me to my building about a third of a block away.

* I left off at #49:

50. Comings and goings:

What’s the real reason that Jerry Mitchell left InterAccess under Tom Simonds? Would LT be able to enlighten us?

What was the real deal between Jim Charney and Catherine Whitney? I know something was going on there because I saw Catherine singing at that place on Milwaukee Ave. and Charney was there.

Between Pat Statwick and John Noel?

In fact, how many affairs were there out at Battelle or for that matter the whole DuPage facility?

I heard about so many, I’ve forgotten. That place could have been renamed “affair central.”

51. Was Shaye Mandle pushed out by Thornton at the Illinois Coalition?

Did David Baker and Sandy Morganstein really cook up a scheme to run their own fund while they were at the Illinois Coalition and DCCA respectively? This would have been around 1990.

When Thornton canned Charney and the people working for him, he sent in Christy Snider to do the dirty work of retrieving the client lists from the folks who worked there. Why was it necessary for the tactics to be so imperious and even brutal?

52. Did Bill Weaver really show up at a board meeting at Napersoft with a bill for $30K that he wanted them to pay (he was an angel investor in Napersoft but he also required the companies to use the legal services of the law firm, then Sachnoff & Weaver, now Reed Smith). Remember, to my knowledge, the investors in Napersoft have never gotten their money out. But Bill Weaver made sure he got his money out through legal fees.

Is it true that Sachnoff & Weaver altered its compensation structure after they lost Mitch Goldsmith to Shefsky & Froelich? It had something to do with cash vs. accrual accounting. Whatever system they had, Mitch was one of their top producers but he ended up on the short end.

Why was Doug Newkirk eased out as partner? And what happened that he did not work out at Merge?

53. What really happened between Howard Tullman and Mark Achler that they ended their partnership in Imagination Pilots?

Why did Howard Tullman split up with Jerry Michaelson of JAM Productions in Tunes.com who was his partner. Did Howard really give Jerry a little out of the way office?

Why did Howard Tullman and Bill Weaver have a falling out when they both sat on the board for the gaming firm where the founder died? I think that was ICOM Simulations and the name Dennis Defensor comes to mind.

Did Howard really tell a student at Kendall in Evanston that when she sees him coming (to the coffee shop), she should have his cappuccino ready? And is it true that he could not be bothered to learn the students’ names at Kendall?

Is it true that Sachnoff & Weaver threatened to take away Walt Sloan’s house for the money he owed them?

54. Is it true that Kris Hammond yelled that he is the smartest person ever born in a meeting about the sale of Everyday Learning Corp.? He laughs it off when I ask him about it, but Darcy says she was there.

Were the Chicago Booth interns working for Tom Churchwell at Midwest Venture Partners being paid?

Was Tom Churchwell pushed out at the University of Chicago or did he quit or some combination of the two?

Where is Churchwell’s friend Steve Lazarus going to go for dinner when Charlie Trotter’s famous restaurant closes this year so that Charlie can go off and study political philosophy?

55. What was the TV show that Walt Winkelmann was on when he was forcefully removed from a Southwest Airlines flight some years ago? And how many widows did Walt woo and scam?

56. What is the actual total of the number of people who have come and gone through Gary Slack’s operation?

How much money has Gary Slack”s mother put up over the years to keep his firm afloat and how many times has he called on her to bail him out?

On the subject of Slack, is he losing the Aon account because they’re moving their HQ to London?

57. Blago anyone? Gary Slack, I mean Rod, has this thing and it’s golden, it’s f***ing golden. That “thing” is the presidency of the BMA which he can dispense and trade for business. Curious that Gary dispenses the “gift,” and then just coincidentally manages to get that person’s firm as a client. This can be said for Tellabs with George Stenitzer and AON, with Phil Clement as the CMO.

Here’s a timeline.

2001 – 2003 Slack is president of BMA

2003: Slack adds Tellabs as client

2003- 2004 Stenitzer (Tellabs) president of BMA

2004-2005: Clement (AON) president of BMA

2005: Slack adds AON as client

2008-2009: Slack is BMA national president

58. Why does everyone lead every conversation with social media and act like everything they did before does not exist?

59. What exactly does Michael Ferro plan to do with the Chicago Sun-Times? Also, what will he do with local tech coverage?

Why did Rahm allow AON to transfer its headquarters to London?

What does Rahm have against Chicagoans who like to use Chicago libraries? He has cut hours, at least 182 staffers, and other services.

60. Is there any integrity left to sell in exchange for donations at Chicago Booth?

Isn’t Dick Costello overdue for a job change since he’s not moving the needle much at Twitter?

When will the investors take over crowdSPRING? Their traffic has dropped by a third recently according to compete.com.

61. What did Sonnenschein Nath Rosenthal, now SNR Denton, pay for the FirstTuesday franchise or did David Jacobson put the money up himself?

62. After President Obama’s speech to the Democratic National convention in 2004, I believe a meeting was held which included David Jacobson, David Weinstein, and Steve Lundin to discuss Obama’s political future. That meeting was held, I believe, in David Jacobson’s office and David declared in his usual slobbering all over himself and fawning way, “Barack’s a rock star!” What did Jacobson do after that? Work on fundraising for the senate campaign?

Remember, you may not know this, but in 1980 David Jacobson was supporting Howard Baker for president. So much for consistency. From Wikipedia:
“Baker ran for President in 1980, dropping out of the race for the GOP nomination after losing the Iowa caucuses to George H.W. Bush and the New Hampshire primary to Ronald Reagan even though a Gallup poll had him in second place in the presidential race at 18% behind Reagan at 41% as late as November 1979.”

Davis’s wife was also a junior lawyer at Sonnenschein — that’s how they met!

How much money did David Jacobson and Sonnenschein pay to get Newt Gingrich to speak here in June 2001?

Here’s a summary of his speech from the TMR archives.

tinyurl.com/7xmlblz

Gingrich said two months ago that he was being paid $60K per speech after he left the speakership. Not for that one though?

63. What really happened with Jeff Coney who left the NU ITEC to go to B2P and then returned to the ITEC and with Bob Ingersoll when he also went to work at B2P with Jason Saul? My impression was that Jason cannot delegate at all.

My sources say that if you see Len Bland every two weeks, each time he will have something completely different that he’s working on. What is that all about? In other words, what does Len really do aside from say he’s raising a fund?

Are the guys who have shown interest in the fund from Indiana really going to let Len run the thing?

64. Whatever happened to the company (and people from) Naymz?

I know what happened to USphere run by Dave Van de Walle. But what happened to his competitor Cappex.com? And did Cappex.com steal ideas from Van de Walle to get off the ground? I never got straight answers to my questions on this.

Where is Karen Andre?

Where is Edwin Eisendrath after his Kendall College stint?

What happened to that company which offered college classes on the net?

Was Jerry Rosenthal canned at Administaff (now called Insperity) and where is he now?

Whatever happened to Peder Jungck?

Ditto for the Stojkas and the folks at Commerx?

Ditto for the people at OurHouse which wasd linked to Ace Harfdware?

I know what Mike Profita is doing, but what about Cate and Pat Brady from Appropos?

Where is Mary Tackbary who started Firefly.com?

What is Ed Zander doing these days?

Where is Matt Klein?

Where is Paul Tedesco?

Whatever happened to Cognitor?

What really happened to Gordon Reichard and Telenisus or how did they blow $100MM?

John Katsantonis, are you alive?

Whatever happened to James Nahikian?

Is Bryan Sugar still around? I heard he’s got some kind of networking group.

Where is Byron Whitehead, formerly of Ernst & Young?

The same question for Ed Galvin, (formerly of PwC)?

Where is Keith Brumbaugh?

Where is Robb Hendrickson?

I heard recently that Tom Alexander (formerly of ePrairie) is now an assistant press secretary to Rahm. How did he get that job?

What happened to Brian Timpone?

Anna Rodenko?

Melissa Kauck?

Rachel Pattertson?

Rachel Kaberon?

Where did Kathy Liu go?

Whatever became of “mellons”? You know, I can’t recall her real name. OK, it was Melanie de Leon but they called her “mellons.”

Where is Pat O’Brien from Blue Meteor?

Lori Clark from DCCA these days?

Man, I could go on with this for a long time.

65. Who will replace Terry Howerton as the chairman (or co-CEO) of the ITA?

Will Howerton show up at the next ITA board meeting?

Will Peter Tapling or Gina Sandon step up to do the chairperson’s job?

66. When will Maura O’Hara organize another venture capital conference? The last one was in 2008.

67. I’m dying to know how much the investors (like Hazel Wagner) in Mike Doyle’s firm Eolas got paid when Microsoft settled with them for $500MM, was it?

What was SmartSignal sold to GE for? Also, why did they dump Gary Conkright and replace him with Jim Gagnard? Was Churchwell behind that or was he out voted on it?

Was Conkright canned because of the Neil Kane syndrome — there too long, too comfortable and not enough sales?

BTW, where is Ron Birchall?

Paul Hartge?

What was Accel Chip sold for and how much did Churchwell make on the deal? What did Prith Banajeree make?

What was Perceptual Robotics sold for? Or was it sold? And where are the founders?

Let me close down for this afternoon.

I have three more reports to get out by Tuesday morning.

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END OF REPORT