Subject: Re: Teas- CONFIDENTIAL
From: "Eric Schwerin" <[email-masked]>
To: <[email-masked]>
Cc: <[email-masked]>, "'Biden, Hunter'" <[email-masked]>
Date: Tue, 4 Jan 2011 16:58:45 -0500

Could Hunter be a celebrity endorser?  I bet they'd pay him a lot.  

Not sure I completely see the play here (I assume they are trying to get the USPS/WalMart to brand their CDs and sell them in Post Offices/Wal-Marts) but we have a direct in at the USPS if we don't want to go through NCR.  

Incidentally, I just looked at buying a MLCD from Wells Fargo.  It is an intriguing product.

Eric D. Schwerin
Rosemont Seneca Partners, LLC
1010 Wisconsin Ave., NW
Suite 705
Washington, DC 20007
(202) 333-1880
[email-masked]
P Consider the environment before printing this email.

On Jan 4, 2011, at 4:49 PM, Neil Callahan wrote:

Let’s discuss on how we could take this concept to Wal-Mart via our relationships there as well as other retailers (Kmart, Target, etc.) and the USPS via our relationship with NCR.
 
------------------------------------------------------------------------------------------
Neil Callahan
Rosemont Seneca
401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037
1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880
917-945-9516 (mobile)
866-749-8879  (fax)
 
From: Christopher Teas [mailto:[email-masked]] 
Sent: Tuesday, January 04, 2011 11:59 AM
To: [email-masked]'
Subject: RE: Teas- CONFIDENTIAL
 
OK. 11 works here. I have put you into security. I have a 12.30 lunch so we will be efficient with time. Run your eyes over this proposal. Bear in mind that it only reflects 1 product line. We have a suite of MLCDs ready to deploy.
 
·         Substitute Walmart/Target et all for “Vendor” in the model
·         Substitute Rosemont for Wholesaler in the model 
 
We would probably haircut the current vendor payout portion (which represents current bank payouts) by 20-30% and add it to our silo. I will explain rationale when we speak.
 
CT

Christopher Teas
Managing Director - Structured Products Group
520 Madison Avenue 4th Floor
New York, NY 10022
O: (212) 906-7597
M: (646) 456-7684
E: [email-masked]
www.ticonderogasecurities.com
 
This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient.  Please note that Ticonderoga Securities LLC does not recommend the use of email to request, authorize, or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions.
 
From: Neil Callahan [mailto:[email-masked]] 
Sent: Tuesday, January 04, 2011 9:56 AM
To: Christopher Teas
Cc: [email-masked]
Subject: RE: Teas- CONFIDENTIAL
 
Hey Chris,
 
Devon is booked in the morning, but available at 11am, and he will already be in Mid-town.  Can we do 11am at your office?
 
Best,
 
Neil
 
------------------------------------------------------------------------------------------
Neil Callahan
Rosemont Seneca
401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037
1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880
917-945-9516 (mobile)
866-749-8879  (fax)
 
From: Christopher Teas [mailto:[email-masked]] 
Sent: Tuesday, January 04, 2011 9:46 AM
To: [email-masked]'
Subject: RE: Teas- CONFIDENTIAL
Importance: High
 
Neil,
Let me know if Thursday morning 9:15 at Rosemont works for meeting. Am filling up my day and need to get calendar locked in.
Thanks,
CT

Christopher Teas
Managing Director - Structured Products Group
520 Madison Avenue 4th Floor
New York, NY 10022
O: (212) 906-7597
M: (646) 456-7684
E: [email-masked]
www.ticonderogasecurities.com
 
This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient.  Please note that Ticonderoga Securities LLC does not recommend the use of email to request, authorize, or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions.
 
From: Neil Callahan [mailto:[email-masked]] 
Sent: Friday, December 31, 2010 10:35 AM
To: Christopher Teas
Subject: RE: Teas- CONFIDENTIAL
 
And this one:  http://www.cnbc.com/id/15840232/?video=1716414222&play=1

------------------------------------------------------------------------------------------
Neil Callahan
Rosemont Seneca
401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037
1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880
917-945-9516 (mobile)
866-749-8879  (fax)
 
From: Neil Callahan [mailto:[email-masked]] 
Sent: Friday, December 31, 2010 10:09 AM
To: 'Christopher Teas'
Cc: [email-masked]'
Subject: RE: Teas- CONFIDENTIAL
 
Hi Chris,
 
Yes, let’s get this hammered out when we all get back.
 
We have not approach Wal-Mart just yet, but between NCR and their Board we can get to all the right people on a friendly basis.  So we just need to package it up and wheel it in and see what they say.  Their deals will be all rev share – so if our models looks solid, it something NCR has precedent in pushing through.  Also NCR is a gateway to Sears/Kmart, Target, etc as well as the USPS.
 
The Asian/Latam front sounds very interesting.  Both are markets we have budding activity in (esp. Turkey, China, India, Columbia and Argentina).
 
On the pension front we are making some progress – our friend Gov Paterson was busy on CNBC this morning and in the Daily News:  http://www.nydailynews.com/opinions/2010/12/31/2010-12-31_gov_david_paterson_sounds_pension_alarm_on_his_last_day_in_office_urges_focus_on.html
 
I’d love to discuss with you more on how we help pry this door open and let you pile in behind with creative solutions.
 
Does the 6th work for you?  Devon?
 
Happy New Year!
 
Best,
 
Neil
 
------------------------------------------------------------------------------------------
Neil Callahan
Rosemont Seneca
401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037
1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880
917-945-9516 (mobile)
866-749-8879  (fax)
 
From: Christopher Teas [mailto:[email-masked]] 
Sent: Wednesday, December 29, 2010 11:35 AM
To: [email-masked]
Cc: [email-masked]
Subject: RE: Teas- CONFIDENTIAL
 
Hi Neil,
 
We are indeed under 2 feet of snow here. Some roads were plowed, others are still totally blocked. No one saw this coming apparently... Fortunately, can sit tight and not worry this week, but feel sorry for folks trying to commute to city or on vacations. Total disaster.
 
Appreciate your update and view. Let's sit down early next week and discuss. We should hammer out the MOU and clearly define roles/deliverables.  Let me know what day works for you. Happy to swing by your offices.
 
Also wanted to see if Walmart had responded. Over the holiday we spent a lot of time there and at Target. Target made a bold move into grocery deliverables and payday loans (kiosks). I wouldn't be surprised if there isn't a Target Bank around the corner as folks migrate to them for one stop shopping. Let me now if your folks have right contacts in Minneapolis to discuss. If not, my lawyers at Reed Smith know some folks there and understand our capabilities in the bank sector and in product formation. I think it would be interesting conversation if Walmart doesn't bite.
 
Finally, have been very active putting principal protection onto various trades for Asian and LatAm clients. Mostly centered Hedge Fund Linked Principal Protected Notes and Private Equity structures. Just wrapped one up for a life settlements fund marketing to pension plans in Tokyo. I have Morgan Stanley and GS as the issuers. They plan on $1B before year end. We should revisit application of this strategy with you during our meeting as they have been successful getting allocations using the structure we created. You may be able to utilize similar strategy to increase AUM efforts.
 
Off to the sledding hills. See you next week.
 
CT

From: Neil Callahan [[email-masked]]
Sent: Wednesday, December 29, 2010 10:33 AM
To: Christopher Teas
Cc: [email-masked]
Subject: RE: Teas- CONFIDENTIAL

Hi Chris,
 
Merry Christmas and Happy New Year.   Hopefully the Rumson DPW were on the ball, Northern Jersey is all clear, the city still seems to be a wreck.
 
Sorry for the end of year radio silence, we were trying to close a few tricky deals prior to year end, we are hopefully almost there.
 
The deck looks great, good work here.
 
Devon has been running the concept by two very large family offices that are looking for a hedge fund product.  And as I’ve mentioned, we begin a Real Estate roadshow in Asia in January and this could be a topic to review as well.  It’s been slow going as people have been away with the holiday’s and everyone seems to have 2010 deals to close out before they start something new.
 
Let’s do a face to face next week if you can – maybe you can stop by our place on your way to the boat one afternoon, or early on your way in.
 
Best,
 
Neil
 
------------------------------------------------------------------------------------------
Neil Callahan
Rosemont Seneca
401 Greenwich Street, Suite 400 | New York NY 10013 | 212-933-9965 | 212-796-4037
1010 Wisconsin Avenue, Suite 705 | Washington DC 20007 | 202-333-1880
917-945-9516 (mobile)
866-749-8879  (fax)
 
From: Christopher Teas [mailto:[email-masked]] 
Sent: Thursday, December 23, 2010 2:54 PM
To: [email-masked]'
Cc: [email-masked]
Subject: Teas- CONFIDENTIAL
Importance: High

Neil,
 
Was hoping to touch base this week before the Holiday. I will be in NJ next week but available on cell. 646.456.7684. Need to get a view from you and Devon on the MOU terms and seed capability/appetite from Rosemont for RepuStars.  Updated deck is attached. We are pursuing an Absolute Return strategy using RepuStars II with a Short S&P overlay. We would like to be up and running during first quarter 2011.
 
Wishing you a Merry Christmas and Happy Holiday!
 
Best,
CT

Christopher Teas
Managing Director - Structured Products Group
520 Madison Avenue 4th Floor
New York, NY 10022
O: (212) 906-7597
M: (646) 456-7684
E: [email-masked]
www.ticonderogasecurities.com
 
This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient.  Please note that Ticonderoga Securities LLC does not recommend the use of email to request, authorize, or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions.

 
 
This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient. 
Please note that Ticonderoga Securities LLC does not recommend the use of email to request, authorize, or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions.
 
This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient. 
Please note that Ticonderoga Securities LLC does not recommend the use of email to request, authorize, or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions.

This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient. 

Please note that Ticonderoga Securities LLC does not recommend the use of email to request, authorize, or effect the purchase or sale of any security, to send fund transfer instructions, or to effect any other transactions.
<Project EndCap Jan 2011.pdf>
This communication may contain confidential/proprietary information. It is intended only for the person(s) to whom it is addressed. If you are not the intended recipient you are hereby notified that you have received this document in error and that any review, dissemination, distribution, or copying of this message is not permitted. All e-mail sent to or received from this address will be received by Ticonderoga Securities LLC corporate e-mail system and is subject to archival and review by someone other than the recipient. 
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