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Vaerah Vahrokha
Minmatar Dark-Rising
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Posted - 2009.07.21 21:29:00 -
[31]
Grats to Ray and... see you soon "somewhere" to Hexxx. Whatever you do, wherever you go, it is just... brilliant. - Auditing and consulting
Before asking for investors, please read http://tinyurl.com/n5ys4h and http://tinyurl.com/lrg4oz
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Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.07.21 21:45:00 -
[32]
Not surprising, but a good decision. Good luck with things, Ray.
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YouGotRipped
Ewigkeit
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Posted - 2009.07.21 22:07:00 -
[33]
Edited by: YouGotRipped on 21/07/2009 22:11:36
Originally by: Hexxx
Hello everyone,
Blessed are the meek: for they shall inherit the earth.
Today I was found guilty of attention whoring and was forced to step down from the position of Director and Chairman of the Board for EBANK. As part of the rehabilitation process, I will dress myself in rags and roam the streets for a while.
You're taking it too hard on yourself, Hexxx.
Black Sun Empire |
Thoraemond
Minmatar Far Ranger
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Posted - 2009.07.21 22:09:00 -
[34]
Originally by: Athre Some of us Yanks dont understand latin and use the word Resume, thanks.
Tongue in cheek: stereotypically speaking, you Yanks don't like French things these days, either. We can't cater to all your ignorances and petty prejudices!
CV, rTsumT (that's how Wikipedia spells it), whatever you want to call it, the bottom line is that the pre-EBANK and ongoing non-EBANK activities of your new Chair are pertinent to how EBANK and its plans will be perceived going forward.
My personal impression is that Ray is a credit to the organization, but if people have complaints or allegations that have at least prima facie (oh right, no Latin, sorry!) a reasonable possibility of merit, I would think that EBANK would want to field them and deal with them. I'm not in the PR business, though; maybe refusing to deal with simple matters straight on and getting defensive is more effective.
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Solisk
Gallente HyperFang Aquisitions And Logistics
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Posted - 2009.07.21 22:39:00 -
[35]
Congratulations on your new position with Ebank, Mr. McCormack. I had been expecting you to show up on their roster sooner or later after your post asking about open BoD positions. I'm sure that you will do a fantastic job as Chairman.
Since we're on the subject, I was wondering if Ebank has any plans of releasing periodic "roadmaps" showing the direction of the company both internally (of course withholding any sensitive information) and as a whole. I'm rather interested in Ebanks "Big Picture" and would love to see a regularly updated roadmap.
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Hexxx
Minmatar
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Posted - 2009.07.21 22:53:00 -
[36]
Originally by: YouGotRipped Edited by: YouGotRipped on 21/07/2009 22:11:36
Originally by: Hexxx
Hello everyone,
Blessed are the meek: for they shall inherit the earth.
Today I was found guilty of attention whoring and was forced to step down from the position of Director and Chairman of the Board for EBANK. As part of the rehabilitation process, I will dress myself in rags and roam the streets for a while.
You're taking it too hard on yourself, Hexxx.
Awww...somebody wants attention. Here you go!
EBANK - Advisor | www.eve-bank.net
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Hexxx
Minmatar
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Posted - 2009.07.21 23:00:00 -
[37]
Originally by: Solisk
Perhaps Ray will usher in a new era and put an end to Soviet Banking?
Your account has decided that you will be depositing money in it today. I would do what it says if I were you.
Originally by: Solisk
Hexxx: You stated that you are stepping down as both Director and Chairman and are planning on staying on as an adviser. Just for clarification, does this mean that you will no longer be a staff member and/or no longer be holding a part of Ebanks isk/assets? And good luck with your insurance venture, I haven't browsed that particular thread yet, but now that I know you'll have more time to devote to it, I think I shall.
I'll be taking a staff position, filling the role of an advisor. I'll pitch in where I can to help get things done and as my time allows. If I had to guess, I may end up holding EBANK cash for one of two reasons:
1) To help with withdraws. 2) As a reserve. I held 250 Billion ISK in EBANK cash when Ricdic stole what he could. How much I hold as a reserve is up to the Board.
I will have no voting rights in EBANK moving forward.
EBANK - Advisor | www.eve-bank.net
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Solisk
Gallente HyperFang Aquisitions And Logistics
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Posted - 2009.07.21 23:04:00 -
[38]
Originally by: Hexxx
Your account has decided that you will be depositing money in it today. I would do what it says if I were you.
I shall now be doing as you say. I suppose actually having an Ebank account can't kill me.
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Taikun
Gallente 20th Legion Sodalitas XX
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Posted - 2009.07.22 02:13:00 -
[39]
EBank would be better served bringing back Ricdic.
Taikun
A criminal is a person with predatory instincts who has not sufficient capital to form a corporation. |
Nuzzy Futs
Amarr Hedion University
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Posted - 2009.07.22 03:28:00 -
[40]
Originally by: Taikun EBank would be better served bringing back Ricdic.
Taikun
why does he need to make another house payment? Awww Nuts. |
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Stela'Artois
Capital Ventures Incorporated
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Posted - 2009.07.22 03:45:00 -
[41]
You asked if there were any questions about the future of the bank:
Is Ebank still planning on rolling out Bonds or other investment opportunities in the future? Or at least bringing back a savings account type setup?
What other "options" are possible or on the table?
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Drab Cane
Mining Emporium inc.
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Posted - 2009.07.22 03:53:00 -
[42]
Originally by: Nuzzy Futs
Originally by: Taikun EBank would be better served bringing back Ricdic.
Taikun
why does he need to make another house payment?
Classic!
Hexx, glad to hear that you're not going very far.
Ray, good luck with your new role. EBank has become the benchmark that EvE banks are measured by, and it sounds like you'll be raising that standard. I look forward to your and EBank's future accomplishments. -----------------------------------------------
- Who Dares, Wins
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EdwardNardella
Caldari Capital Construction Research Pioneer Alliance
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Posted - 2009.07.22 06:23:00 -
[43]
Currently the interest provided by checking accounts is not enough for me to want to keep much of my money with ebank, can I in the future expect bonds to be available or some kind of high interest savings account with restrictions on deposits and withdrawals?
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Ray McCormack
hirr
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Posted - 2009.07.22 07:50:00 -
[44]
Originally by: Kazzac Elentria So what are the major points in the road map so far?
In the development roadmap? That's for Balogh or Athre or the Board to decide on. My requests are are all to further the reporting and audit process.
Originally by: Kazzac Elentria Obviously reporting was a big one that just got ate....
It's a big one, but far from being finished off, we've only just nibbled at the sides. The Balance Sheet needs some fine-tuning, the Income Statement is currently a forecast rather than an actual, the Cash Flow statement needs to be automated and the Loan system needs some changes in order to support the reporting structure better.
Originally by: Daeva Vios Do you foresee any major policy changes in the near future? With or without thorough review of current policies, just want to know where you stand.
There are some changes currently being discussed, and the idea is to establish a public think-tank before any move is made on them. My suggestion would be to hold off on these changes until our ability to self-audit is more firmly established. However this decision is ultimately Athre's to make, and I will support it.
Originally by: Daeva Vios Do you consider additional options in the banking industry in terms of diversified financial products to be a good thing or a bad thing, and could you please explain?
I don't see how more consumer choice could be considered a bad thing. This isn't just a square sandbox with a flat floor, it's a magical world of towering cities and fantastical spacecraft. We get to create it, mould it; and it's looking extremely bland at the moment.
Originally by: Daeva Vios Moreover, do you have any ideas of what products EBANK might offer that it currently does not?
Definitely. Once our internal reporting systems are in place I would like to offer that service to anybody. We will create financial reports and audits for a minimal fee, and we can all start pretending we're important people with snazy documents.
The exchange is another product the bank has always been interested in offering, but as I stated before it's currently a low priority.
Hexxx has intimated to his plans, we'll see what comes of those.
Do you have any other products you would like us to offer?
Originally by: Daeva Vios Do you consider a choice of multiple competing institutions to be a good thing or a bad thing, and could you please explain?
As far as banks go, it's a good thing. It spreads the macro-economic risk and encourages institutional changes that are hard to foster in a monopoly.
Originally by: Thoraemond I would think that EBANK would want to field them and deal with them. I'm not in the PR business, though; maybe refusing to deal with simple matters straight on and getting defensive is more effective.
Far from it; open and direct dialogue is the best way to go. However Mr Baltar previously received a response in an in-game mail regarding the lack of news. I guess he didn't appreciate the tone of the answer and instead tried to drama bait me in this thread. The questions he has raised were asked and answered in a separate thread, by a ! no less. When there is news, it will be posted. For now you're welcome to view our public API details, available on the website. I believe AATP is currently the only public corporation to provide these details, but be my guest and accuse me of not providing updates when they're freely available to follow.
Some people call me the space cowboy, yeah |
RaTTuS
BIG Libertas Fidelitas
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Posted - 2009.07.22 07:51:00 -
[45]
Grats to Ray, a good choice there...
-- RaTTuS @ InEve, Capital Prints for sale |
Ray McCormack
hirr
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Posted - 2009.07.22 07:59:00 -
[46]
Originally by: Solisk I was wondering if Ebank has any plans of releasing periodic "roadmaps" showing the direction of the company both internally (of course withholding any sensitive information) and as a whole. I'm rather interested in Ebanks "Big Picture" and would love to see a regularly updated roadmap.
This question was also asked internally when I was up for nomination, I'll give the same reply. Not currently. I have no precedent to work on with regards to time-frames, and I still need to establish the ability and malleability of the existing procedures and policies.
For now the main focus is on Self-Auditing and Strong Fundamentals, amongst other things.
Originally by: Solisk Also, with other projects on your plate, Mr. McCormack, do you intend to distribute your time around the various projects? Or might there be the possibility of your other projects being liquidated to free up your time?
Yes, no.
Originally by: Stela'Artois Is Ebank still planning on rolling out Bonds or other investment opportunities in the future? Or at least bringing back a savings account type setup?
As mentioned in a previous reply, there is internal discussion on some possible changes. The idea is to hold a semi-public discussion on the matter before any changes are implemented. I will also be advising against any changes until the first two points of my agenda are under control (in bold above). However the decision rests with the CEO and the Board.
Originally by: EdwardNardella Currently the interest provided by checking accounts is not enough for me to want to keep much of my money with ebank, can I in the future expect bonds to be available or some kind of high interest savings account with restrictions on deposits and withdrawals?
You will have to see what comes of the discussions surrounding account structure.
Some people call me the space cowboy, yeah |
Ray McCormack
hirr
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Posted - 2009.07.22 08:02:00 -
[47]
Originally by: RaTTuS Grats to Ray, a good choice there...
Thanks RaTTuS, and thanks to everyone else for their congratulations.
Some people call me the space cowboy, yeah |
Kushan
Caldari Taggart Transdimensional Virtue of Selfishness
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Posted - 2009.07.22 08:24:00 -
[48]
Ray, eh? A good choice. As boring as his plans sound, I suppose I'll have to concede they're probably wise...
Still, couldn't you promise Change(tm), galactic takeovers, Next Big Thing, or something of the sort? I need more dramaz in mah ebank threads :-(
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Thoraemond
Minmatar Far Ranger
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Posted - 2009.07.22 09:32:00 -
[49]
Originally by: Ray McCormack [O]pen and direct dialogue is the best way to go. However Mr Baltar previously received a response in an in-game mail regarding the lack of news. I guess he didn't appreciate the tone of the answer and instead tried to drama bait me in this thread. The questions he has raised were asked and answered in a separate thread, by a ! no less.
Like most people, I am not privy to your private correspondence with Marcus Baltar. If you allude to Athre's condescending thread in which Azelle Storm'Eye posts a 'guess' about the current status of AATP, I'm sure you can appreciate that a guess made by a '!' with no known ties to a business is generally given less weight as a report of that business than would be a statement from its management.
Originally by: Ray McCormack When there is news, it will be posted.
Sounds fair to me, based on my limited understanding of AATP. It would have been good to see this response to the issue when it was initially raised in this thread.
Originally by: Ray McCormack For now you're welcome to view our public API details, available on the website. I believe AATP is currently the only public corporation to provide these details.
If you're referring to the details that are putatively here, all I see is a request for my full API details and what looks like it might be an error message saying 'No characters found, must be a problem with user id or api key!'.
Originally by: Ray McCormack ... but be my guest and accuse me of not providing updates when they're freely available to follow.
I'm sure you saw that I made no accusations, except that PR might be improved.
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Lumtwiss
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Posted - 2009.07.22 10:40:00 -
[50]
But it is valid to pull AATP in to this talk about Ray, if Ray is to be in charge of reporting to the public for Ebank, then it is a small problem that he for his own endevaour isnt able to provide his shareholders with valid/up to date information about their investment. Is he going to do that for Ebank as well ?
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Admiral IceBlock
Caldari Northern Intelligence
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Posted - 2009.07.22 11:16:00 -
[51]
I would advise against this IPO. Want to know more? |
LaVista Vista
Conservative Shenanigans Party
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Posted - 2009.07.22 11:25:00 -
[52]
Originally by: Admiral IceBlock I would advise against this IPO.
Thank god this isn't an IPO.
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Kazzac Elentria
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Posted - 2009.07.22 12:13:00 -
[53]
Ray, Im assuming that once the balance sheet and income points are nailed down, the next step would be discussions on account structure? |
Hexxx
Minmatar
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Posted - 2009.07.22 12:42:00 -
[54]
Originally by: Kazzac Elentria Ray, Im assuming that once the balance sheet and income points are nailed down, the next step would be discussions on account structure?
Account restructuring was and is a personal campaign of mine. Now that I'm staff, all I can do is lobby and argue for the cause. It's a touchy subject though because of the implications; volatility in our cash levels, uncertain reception to changes, etc.
EBANK wants slow movement up or down and the risk is any change we make to accounts could result in relatively fast movement.
EBANK - Advisor | www.eve-bank.net
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Kazzac Elentria
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Posted - 2009.07.22 12:49:00 -
[55]
Originally by: Hexxx
Originally by: Kazzac Elentria Ray, Im assuming that once the balance sheet and income points are nailed down, the next step would be discussions on account structure?
Account restructuring was and is a personal campaign of mine. Now that I'm staff, all I can do is lobby and argue for the cause. It's a touchy subject though because of the implications; volatility in our cash levels, uncertain reception to changes, etc.
EBANK wants slow movement up or down and the risk is any change we make to accounts could result in relatively fast movement.
Understandably, hopefully however with a new grasp on cash levels and flow small changes can come here and there. |
Hexxx
Minmatar
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Posted - 2009.07.22 14:10:00 -
[56]
Originally by: Kazzac Elentria
Originally by: Hexxx
Originally by: Kazzac Elentria Ray, Im assuming that once the balance sheet and income points are nailed down, the next step would be discussions on account structure?
Account restructuring was and is a personal campaign of mine. Now that I'm staff, all I can do is lobby and argue for the cause. It's a touchy subject though because of the implications; volatility in our cash levels, uncertain reception to changes, etc.
EBANK wants slow movement up or down and the risk is any change we make to accounts could result in relatively fast movement.
Understandably, hopefully however with a new grasp on cash levels and flow small changes can come here and there.
I think it will...but understand at the top of Ray's agenda is reporting and transparency. There have been great strides made recently in this area, but my sense is that much more progress is desired before we try and tackle account structures...just my guess and personal opinion. It's still a topic of discussion at the moment and ultimately it is the Board who decides when and how that will be addressed.
I understand the frustrating part of us focusing internally is it's largely invisible to the public.
EBANK - Advisor | www.eve-bank.net
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Selene D'Celeste
Caldari The D'Celeste Trading Company ISK Six
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Posted - 2009.07.22 14:21:00 -
[57]
Originally by: Ray McCormack
For now the main focus is on Self-Auditing and Strong Fundamentals, amongst other things.
I, for one, am a happy camper.
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Phoebe Halliwel
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Posted - 2009.07.22 14:30:00 -
[58]
Originally by: Ray McCormack For now the main focus is on Self-Auditing and Strong Fundamentals, amongst other things.
I really hope by "strong fundamentals" you refer in part to issues of corporate governance. I've just had a look at your website and compared it to HSBC (as a random example). The ebank statement of corporate governance is point 6 in your TOS, whereas HSBC devotes several different pages to the subject. I'm not too sure on forum rules to links, but I'll post them anyway with the subjects, if the links are removed you can see the points.
Corporate Governance http://www.hsbc.com.cn/1/2/hsbc-china/hsbc-china/community/corporategovernance "Responsibility to stakeholders The Bank seeks to protect stakeholder interests and conduct business ethically, while keeping stakeholders informed about the BankĘs strategies and operational progress. This involves providing timely and accurate disclosure of information for our stakeholders including directors, customers, employees, regulators and the local communities in which we operate. Good corporate governance also means establishing standards of accountability, ensuring that management is effectively monitored by the Board of Directors which includes independent directors." Although this is alluded to on the ebank website, I can't find particular references to "standards of accountability" etc.
Other interesting stuff (only bits and pieces actually applicable) but none of which seem to be reflected on the ebank site Group Business Principles and Values http://www.hsbc.com.cn/1/2/hsbc-china/hsbc-china/hsbc-group-value Corporate Social Responsibility http://www.hsbc.com.cn/1/2/hsbc-china/hsbc-china/community Education and Social Development http://www.hsbc.com.cn/1/2/hsbc-china/hsbc-china/community/development
Funnily enough, when I googled for ebank, the first link was ebank.com where I spotted this Code of Ethics for Senior Financial Officers http://www.ebank.com/ethics.html again, I can't see anything on the eve-bank site, although perhaps it exists an internal document.
I'm not posting to troll/lecture or point out issues that you are already aware of, and have probably already been discussed elsewhere. I hope it will form part of your strategy going forward to review your corporate governance policies, as there does seem to be a gap between ebank and a RL counterpart. Focusing on it publically might be an important step to recovering confidence in in-game banking systems (ironic that this parallels RL events so graphically), but also go some way to creating a stronger banking/financial system.
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Daeva Vios
New Eden Credit Bureau
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Posted - 2009.07.22 18:31:00 -
[59]
On the subject of financial products:
Have you considered Certificates of Deposit? I've skimmed over the EBANK website and I can't find mention of them. 6- or 12-month CDs with a rate slightly higher than the current rate on interest-bearing accounts would be nice.
Payroll services might be an interesting thought. EVE is fairly mercenarial right now and corporations tend toward the guild model, but it would be pretty awesome to see the corporate landscape change to become more business-oriented.
Retirement insurance. Individuals could save some isk aside in the event they leave the game, with a sort of will attached that would dictate who gets what in the event that they leave. Not entirely serious about this, but I find the idea amusing. ------------------------------------- NECB |
Daeva Vios
New Eden Credit Bureau
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Posted - 2009.07.22 20:06:00 -
[60]
On the subject of competition:
EBANK to my mind represents what is currently the best working example of what the Board-run extra-corporate model can accomplish in our little pocket universe. Given that the call for reporting has been made, I personally don't care so much for regular reporting as I would like to see an extremely basic run down of EBANK's internal workings. I feel that this could go a long way toward giving other hopefuls a model to base their own projects on.
Granted this does come with the very real possibility of direct competition with EBANK, but with EBANK scaling back operations as of last official communication that addressed the subject, additional entities operating on a relatively similar framework and scale can't be too much of a threat and may in fact draw in more customers. Since EBANK controls such a large percentage of EVE's overall isk (relative to the fact that it is not a sovereign political entity, afaik), but such a small percentage of EVE's population knows about the availability of banking, it doesn't seem like competition could bring anything but greater awareness and therefore greater advantages. Is such a release of basic framework information to be used as a model by others a possibility?
I personally have no desire to dip my fingers into banking but I thought I'd ask. ------------------------------------- NECB |
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