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Delivered-To: john.podesta@gmail.com Received: by 10.100.255.16 with SMTP id c16cs14656ani; Fri, 11 Apr 2008 13:09:26 -0700 (PDT) Received: by 10.150.195.21 with SMTP id s21mr3779883ybf.114.1207944566477; Fri, 11 Apr 2008 13:09:26 -0700 (PDT) Return-Path: <Michael.Vachon@soros.com> Received: from nyc-sor-mime-02.SorosFunds.com (nyc.soros.com [208.197.121.6]) by mx.google.com with ESMTP id 74si7340102wra.26.2008.04.11.13.09.25; Fri, 11 Apr 2008 13:09:26 -0700 (PDT) Received-SPF: pass (google.com: domain of Michael.Vachon@soros.com designates 208.197.121.6 as permitted sender) client-ip=208.197.121.6; Authentication-Results: mx.google.com; spf=pass (google.com: domain of Michael.Vachon@soros.com designates 208.197.121.6 as permitted sender) smtp.mail=Michael.Vachon@soros.com Received: from nyc-sor-exch-07.SorosFunds.com (nyc-sor-exch-07.sorosfunds.com) by nyc-sor-mime-02.SorosFunds.com (Content Technologies SMTPRS 4.3.14) with ESMTP id <T864aa85de70a071e44558@nyc-sor-mime-02.SorosFunds.com>; Fri, 11 Apr 2008 16:09:25 -0400 Received: from NYC-SOR-EXCH-06.SorosFunds.com ([10.7.30.104]) by nyc-sor-exch-07.SorosFunds.com with Microsoft SMTPSVC(6.0.3790.1830); Fri, 11 Apr 2008 16:09:25 -0400 Content-class: urn:content-classes:message MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----_=_NextPart_001_01C89C0F.F02AE200" X-MimeOLE: Produced By Microsoft Exchange V6.5 Subject: Fund for America Date: Fri, 11 Apr 2008 16:09:24 -0400 Message-ID: <C8FA3B481ABC224FB1790510F35ED4C401CE4F17@NYC-SOR-EXCH-06.SorosFunds.com> X-MS-Has-Attach: X-MS-TNEF-Correlator: Thread-Topic: Fund for America Thread-Index: AcicD/ARDK5iiQ1gSAiwhbChXB24JA== From: "Vachon, Michael" <Michael.Vachon@soros.com> To: "Amy Dacey" <Amy.Dacey@seiu.org>, fes33@aol.com, Anna.Burger@seiu.org, jstocks@nea.org, "John Podesta" <john.podesta@gmail.com>, Rmckay@mckayfund.org Return-Path: Michael.Vachon@soros.com X-OriginalArrivalTime: 11 Apr 2008 20:09:25.0508 (UTC) FILETIME=[F0994C40:01C89C0F] ------_=_NextPart_001_01C89C0F.F02AE200 Content-Type: text/plain; charset="us-ascii" Content-Transfer-Encoding: quoted-printable In advance of your board call I wanted to share a few thought about events of the past few days. =20 I think it is pretty clear that FFA and CDA/Progressive Media will have to abandon joint fundraising. (One person told me this had already been decided, is that so?) =20 George will continue to support FFA. His outstanding 1.5 million will be paid to FFA. =20 I think FFA should honor any existing commitment made to CDA/PMUSA and that those should be clearly defined. Is the outstanding committment to pay a further, final 500k?=20 =20 I would like to understand the accounts at FFA more clearly. =20 My understanding is that FFA has taken in $11 million in total (3.5 from Soros; 2.5 from SEIU; 2.5 from Bing; and 2.5 from other sources). Of that, 2 million has gone to America Votes and 3.5 million has gone to CDA.=20 =20 That leaves a further 5.5 million. What is the status of those funds?=20 =20 At a time when we all agree that there is a need to aggressively challenge John McCain, and it has been difficult to raise money, I question why there would be the sum of undeployed capital in FFA accounts. =20 I understand that some of that money is already earmarked, committed, or reserved for ooperation expenses--but I would like to understand the budget in greater detail.=20 =20 Finally,as a result of the now well-publicized dinner a George's house the other night I was approached by a donor who wants to make a challenge grant to the dinner participants. I will continue to work with that donor to raise fund from that event. This should help ease any ill will on the part of CDA/PMUSA. =20 I would appreciated it if one of you could answer my questions and let me know what else you may decide. =20 Finally, on behalf of George, I want to thank you all for taking the time to be on the board of FFA, helping to ensure that resources are well spent, when you all have day jobs! =20 Best, =20 Michael. ------_=_NextPart_001_01C89C0F.F02AE200 Content-Type: text/html; charset="us-ascii" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Dus-ascii"> <META content=3D"MSHTML 6.00.2900.3268" name=3DGENERATOR></HEAD> <BODY> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>In = advance of your=20 board call I wanted to share a few thought about events of the past few=20 days.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>I = think it is pretty=20 clear that FFA and CDA/Progressive Media will have to abandon joint = fundraising.=20 (One person told me this had already been decided, is that=20 so?)</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D838304519-11042008></SPAN></FONT><FONT=20 face=3DArial size=3D2><SPAN = class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>George = will continue=20 to support FFA. His outstanding 1.5 million will be paid to=20 FFA.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>I = think FFA should=20 honor any existing commitment made to CDA/PMUSA and that those should be = clearly=20 defined. Is the outstanding committment to pay a further, final 500k?=20 </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>I = would like to=20 understand the accounts at FFA more clearly.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D838304519-11042008></SPAN></FONT><FONT=20 face=3DArial size=3D2><SPAN = class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>My = understanding is=20 that FFA has taken in $11 million in total (3.5 from Soros; 2.5 = from SEIU;=20 2.5 from Bing; and 2.5 from other sources). Of that, 2 million has gone = to=20 America Votes and 3.5 million has gone to CDA. </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>That = leaves a=20 further 5.5 million. What is the status of those funds? = </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>At a = time when we=20 all agree that there is a need to aggressively challenge John McCain, = and it has=20 been difficult to raise money, I question why there would be the sum of=20 undeployed capital in FFA accounts.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D838304519-11042008> </DIV> <DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>I = understand that=20 some of that money is already earmarked, committed, or reserved for = ooperation=20 expenses--but I would like to understand the budget in greater detail.=20 </SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT></SPAN></FONT><FONT = face=3DArial=20 size=3D2><SPAN = class=3D838304519-11042008></SPAN></FONT> </DIV></DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D838304519-11042008>Finally,as a result=20 of the now well-publicized dinner a George's house the other night I was = approached by a donor who wants to make a challenge grant to the dinner=20 participants. I will continue to work with that donor to raise fund from = that=20 event. This should help ease any ill will on the part of=20 CDA/PMUSA.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN class=3D838304519-11042008>I = would appreciated=20 it if one of you could answer my questions and let me know what else you = may=20 decide.</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN = class=3D838304519-11042008>Finally, on behalf=20 of George, I want to thank you all for taking the time to be on the = board of=20 FFA, helping to ensure that resources are well spent, when you all = have=20 day jobs!</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008>Best,</SPAN></FONT></DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008></SPAN></FONT> </DIV> <DIV><FONT face=3DArial size=3D2><SPAN=20 class=3D838304519-11042008>Michael.</SPAN></FONT></DIV></BODY></HTML> ------_=_NextPart_001_01C89C0F.F02AE200--