Author: James B. Shearer
Date: 15:18:54 06/23/01
It appears ICC is being sold to an organization called World Class Games
(which was formed to buy ICC). The following is extracted from a letter to the
USCF (http://www.neosoft.com/~george/chess/USCF/politics/OnLineChess/hb2.html).
James B. Shearer
...............................................................................
You ask a number of questions about the relationship between ICC and
World Class Games LLC (WCG) which we'd like to answer.
1. Will World Class Games (WCG) be with you in the long run - are we
signing with WCG or ICC, or both? Give me the exact status of your
agreement. Can I have a copy? What gets signed (or agreed to ) in July
2001?
ICC has been in business for over six years, with consistent
management, growth and profitability, under the direction of
Dr. Daniel Sleator. Over the years, ICC has been approached with
numerous business propositions, many of which were specious. (Games
Parlor is one of the many companies that have made such offers.)
During the last year, ICC chose to enter into discussions with Mark
James regarding investment and growth for ICC. These discussions
resulted in the formation of WCG as an investment vehicle, and the
raising of some millions of dollars. Mark James and his partners
(Sandy Jackson, Hal Bogner and Dave Wasdahl) each bring valuable
skills to ICC, and will assume management roles upon the closing of
the investment, which is scheduled to be initiated no later than 15
July. The four WCG partners are currently working with ICC during the
transition period, and a portion of the investment monies have already
been paid to ICC.
The investment agreement between ICC and WCG is private, and is not
contingent upon any involvement with USCF. After the Closing Date
more information will become available, including information
regarding other individuals who are also participating in the
investment. We believe that ICC will be a stronger company as a
result of the investment by WCG. Mark James and Sandy Jackson will
join the current management team, and we anticipate a period of higher
growth and additional service improvements over the next year and
beyond.
Because the investment is in progress at this time, with a closing
process to occur no later than 15 July, we ask you and your staff to
work closely with both Daniel Sleator and Mark James as we proceed
with our discussions, and we will designate appropriate individuals
for particular tasks within these discussions as we proceed.
2. What are the exact statuses of Mark James, Hal Bogner, Sandy
Jackson and Dave Wasdahl? Are they paid personnel of ICC or WCG (or
both)?
All four are part of World Class Games. When the investment process
is complete, World Class games will have full management authority for
all ICC decisions.
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