EVE Search - Never Deal With Thieves, Even Large Ones.

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Calladen Nimitz	Posted - 2003.07.23 14:26:00 - [1] I have asked the people involved in this transaction to contact me via e-mail (from our website). Once I review the information I will discuss it with the Executives and reach a decision as to a resolution. We will be posting a message on our website stating that ANY transaction involving a member of TTI is done with the individual and not the parent company. Ragnar was quite correct in stating we are not familiar with the details of this fund. I appreciate your patience in the matter and have already contacted the affected individuals by email. Calladen Nimitz
Calladen Nimitz Caldari Deep Core Mining Inc.	Posted - 2003.07.23 14:26:00 - [2] I have asked the people involved in this transaction to contact me via e-mail (from our website). Once I review the information I will discuss it with the Executives and reach a decision as to a resolution. We will be posting a message on our website stating that ANY transaction involving a member of TTI is done with the individual and not the parent company. Ragnar was quite correct in stating we are not familiar with the details of this fund. I appreciate your patience in the matter and have already contacted the affected individuals by email. Calladen Nimitz SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
Calladen Nimitz	Posted - 2003.07.25 00:16:00 - [3] Edited by: Calladen Nimitz on 25/07/2003 00:18:00 Overkill, In fact this approach is very Randlike. By requiring the individual to accept responsibility we ensure two things, first that the corporation won't be financially crippled by the occasional "bad deal" and second that the individual indeed accepts responsibility for their actions. This is the height of Randian thinking in my opinion. In the Vexx case keep in mind the only money TTI would see in a deal like this is the 10% income tax Vexx would pay as a member. All the other "profits" of this transaction are the property of Vexx and his shareholders. As TTI doesn't see a direct profit from his deals we can hardly be blamed for also not accepting the blame for its downfall. The analogy that this is similar to a corp member who "goes crazy" and kills people (going rouge) not representing the entire corporation. Indeed Ragnar is the ONLY member of TTI who can make a statement which indeed represents the views of TTI. Others like myself who are Executive issue occasional policy but you'll notice if you've read the forums awhile many of my posts have a disclaimer at the bottom (these are my views and not those of TTI). There is a reason for this. In this case it appears a rouge member of TTI who is now absent for whatever reason (hopefully just irresponsibility and not an injury, accident or death) has vanished from Eve. This person had his own corporation ingame, using the TTI logo (but not our name), conducted his own financial transactions and sold these "shares" to buyers. Since this happend prior to the issuance of this TTI policy regarding individual culpability we are looking at some form of restitution in this case only. It should be noted that the Infinity Fund prospectus stated it isn't a guarantee. We aren't looking at restitution because of money lost but because this person (Vexx) hasn't fulfilled his duties to his customers. We are indeed under no obligation to do so but instead do so because in this case it is the right thing to do. I think all CEO's and corporate executives can sympathize with the fact that our members/employees often do things we would rather they not (much like real life). I think we can also sympathize with the fact that in this particular case TTI was as blindsided by these accusations as anyone else. Calladen Nimitz TTI Executive
Calladen Nimitz Caldari Deep Core Mining Inc.	Posted - 2003.07.25 00:16:00 - [4] Edited by: Calladen Nimitz on 25/07/2003 00:18:00 Overkill, In fact this approach is very Randlike. By requiring the individual to accept responsibility we ensure two things, first that the corporation won't be financially crippled by the occasional "bad deal" and second that the individual indeed accepts responsibility for their actions. This is the height of Randian thinking in my opinion. In the Vexx case keep in mind the only money TTI would see in a deal like this is the 10% income tax Vexx would pay as a member. All the other "profits" of this transaction are the property of Vexx and his shareholders. As TTI doesn't see a direct profit from his deals we can hardly be blamed for also not accepting the blame for its downfall. The analogy that this is similar to a corp member who "goes crazy" and kills people (going rouge) not representing the entire corporation. Indeed Ragnar is the ONLY member of TTI who can make a statement which indeed represents the views of TTI. Others like myself who are Executive issue occasional policy but you'll notice if you've read the forums awhile many of my posts have a disclaimer at the bottom (these are my views and not those of TTI). There is a reason for this. In this case it appears a rouge member of TTI who is now absent for whatever reason (hopefully just irresponsibility and not an injury, accident or death) has vanished from Eve. This person had his own corporation ingame, using the TTI logo (but not our name), conducted his own financial transactions and sold these "shares" to buyers. Since this happend prior to the issuance of this TTI policy regarding individual culpability we are looking at some form of restitution in this case only. It should be noted that the Infinity Fund prospectus stated it isn't a guarantee. We aren't looking at restitution because of money lost but because this person (Vexx) hasn't fulfilled his duties to his customers. We are indeed under no obligation to do so but instead do so because in this case it is the right thing to do. I think all CEO's and corporate executives can sympathize with the fact that our members/employees often do things we would rather they not (much like real life). I think we can also sympathize with the fact that in this particular case TTI was as blindsided by these accusations as anyone else. Calladen Nimitz TTI Executive SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
Calladen Nimitz	Posted - 2003.07.25 06:56:00 - [5] "Anyways, in a friendly gesture, here's mud in your eye (in otherwords its all in good sport)." I wasn't around then Overkill but I think I understand what you mean. Life does come full circle. No offense is taken at what you said and I hope my reply didn't offend you at all. This is very frustrating for me personally because I'm spending my gameplaying time fixing something OOG that wasn't my fault to begin with. While I'm an Exec which requires some OOG work this is simply a waste of a valuable resource (my time). Hopefully Vexx will magically appear and refund everyones money. From the scope of this incident I'm concerned that the overall level of claims my overwhelm our system. I wish CCP had a measure in place for something like this (like seize his assets) but he isn't even in TTI ingame so we can't even audit him. Calladen
Calladen Nimitz Caldari Deep Core Mining Inc.	Posted - 2003.07.25 06:56:00 - [6] "Anyways, in a friendly gesture, here's mud in your eye (in otherwords its all in good sport)." I wasn't around then Overkill but I think I understand what you mean. Life does come full circle. No offense is taken at what you said and I hope my reply didn't offend you at all. This is very frustrating for me personally because I'm spending my gameplaying time fixing something OOG that wasn't my fault to begin with. While I'm an Exec which requires some OOG work this is simply a waste of a valuable resource (my time). Hopefully Vexx will magically appear and refund everyones money. From the scope of this incident I'm concerned that the overall level of claims my overwhelm our system. I wish CCP had a measure in place for something like this (like seize his assets) but he isn't even in TTI ingame so we can't even audit him. Calladen SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS
Calladen Nimitz	Posted - 2003.07.27 11:35:00 - [7] Athule, It is a gray area yes. While we are handling all the claims regarding this fund incident we will issue a decree that we do not oversee the individual ventures of our members. (Note:we still dont know where Vexx is and pray he isn't hurt or ill or something). Doing business with anyone is risky business. I for one almost invested myself in this fund. Im hoping Vexx will be back and there is a reasonable excuse for this happening. I've read his prospectus and early status emails to members and to be honest this looks like a great idea ingame. Still it requires constant upkeep which may explain his absence. Basically we're looking at this situation because we DIDNT have measures in place to protect ourselves. This was our own fault and we'll look at restitution of some type. However, that being said, we will also require all future transactions to include the disclaimer so the purchaser knows TTI is not a "guaranter" like the FDIC for their isk (FDIC is Federal Deposit Insurance Corp - which guarantees the money deposted in US banks for you outside the US). This is why we are looking at this one case this way and why we will NOT do this again. Calladen Nimitz
Calladen Nimitz Caldari Deep Core Mining Inc.	Posted - 2003.07.27 11:35:00 - [8] Athule, It is a gray area yes. While we are handling all the claims regarding this fund incident we will issue a decree that we do not oversee the individual ventures of our members. (Note:we still dont know where Vexx is and pray he isn't hurt or ill or something). Doing business with anyone is risky business. I for one almost invested myself in this fund. Im hoping Vexx will be back and there is a reasonable excuse for this happening. I've read his prospectus and early status emails to members and to be honest this looks like a great idea ingame. Still it requires constant upkeep which may explain his absence. Basically we're looking at this situation because we DIDNT have measures in place to protect ourselves. This was our own fault and we'll look at restitution of some type. However, that being said, we will also require all future transactions to include the disclaimer so the purchaser knows TTI is not a "guaranter" like the FDIC for their isk (FDIC is Federal Deposit Insurance Corp - which guarantees the money deposted in US banks for you outside the US). This is why we are looking at this one case this way and why we will NOT do this again. Calladen Nimitz SOVEREIGN ENTERPRISES WEBPAGE AND FORUMS

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