Subject: RE: Teas- CONFIDENTIAL
From: "Neil Callahan" <[email-masked]>
To: "'Eric Schwerin'" <[email-masked]>
Cc: <[email-masked]>, "'Biden, Hunter'" <[email-masked]>
Date: Tue, 4 Jan 2011 17:05:35 -0500

I was thinking we could name it "Biden Bucks".

The play is we bring a financial product to the retailers, CDs or "Funds" at
a retail level.  Wal-Mart has a bank charter, so each check out lady
literally could have the same powers of a bank teller at Bank of America.
We share in the commissions/fees.

In Germany and elsewhere you can buy CDs at the Post Office through a
vending machine.  This is a particularly good target because the USPS lost
$800m last year and needs to find new sources of revenue, so any angle in
would be a good one.  Also, NCR would provide the kiosk and systems to
process the CDs, so we could do to the USPS (and other) with a turn-key
solution.  NCR is already a big supplier to USPS and their CEO has a
quarterly meeting with the Post Master General.

----------------------------------------------------------------------------
--------------

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: Eric Schwerin [mailto:[email-masked]] 
Sent: Tuesday, January 04, 2011 4:59 PM
To: [email-masked]
Cc: [email-masked]; 'Biden, Hunter'
Subject: Re: Teas- CONFIDENTIAL

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] <x-msg://59/[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:  <mailto:[email-masked]> [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:  <mailto:[email-masked]> [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
<http://www.cnbc.com/id/15840232/?video=1716414222&play=1> &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] <mailto:[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
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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
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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.