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the truth to which you referred was merely that you had come to the same conclusion that as structured it was
unlikely to make money.. no more no lessand you only shared that with me , only after i told you that i could not
see a profit. I an glad you are not taking umbrage, your methods and disciplines are yours. not good or bad, just
ones that i wish not to engage..
On Sat, Dec 11, 2010 at 12:02 PM, Dr. Henry Jarecki
wrote:
I never said I could, after you had made up your mind, "tell you the truth." I
had and have no knowledge of the truth (and I'm not saying that in some
high philosophical sense).
nick sent me projections, at least ten within twenty days and all based on
different scenarios of where it would be shot and how many days after he
played shrinko with the script, and depending on who took what payments
and in what waterfall order they were to be repaid and all of his projections
made money though most inevitably were uncertain as they depended on
events that were then futural like shooting in gramercy park or the arts club
and getting Pacino or the casting director to accept a lower fee or cutting
the days to 28 or shooting in Louisiana or getting high Louisiana rebates,
etc. There couldn't have been a truth and there couldn't even have been
an estimate of it, nor can there be now.
I may have said "discuss it with you" or maybe I said it jocularly. There is
no truth in predictions of the future. I was interested to get your perceptions
as nick had told me that you had asked specialists in the field to advise
you. I had no such experts and I never would have presumed to know
what would become of it. I still don't.
Nor did I have "intimate knowledge. Nick spent fourteen hours a day on it
taking to projection-creators, possible finance sources, and intended acting
or production participants, and I got a ten to twenty minute glimpse of a
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status once a day while he was in New York and less yet while he was in
la. I advised on how to deal with berg and other blackmailers, not on the
finance.
Add to all this that I was never asked to opine on it. As it had started all
around me, and I was puzzled as to how you had come to an interest and
nick told me that it was at your instance, I had no reason to intrude myself
in rendering an unasked opinion. Had I been asked to do so I would surely
have said what I do herein, namely, that I am not in the field, have no
experience in the vicissitudes of film equity investments, and would if I
were to put money into it myself not be doing so in prospect of profit but
rather in ambivalent solidarity with my son (ambivalent because I know how
inconstant a source of satisfaction the business is).
Add to this that I have no aspirations or pretensions that I know public
taste. What I like, the public doesn't, typically and vice versa. I had looked
forward to your views as you or your advisors would have had a sense of
whether it would appeal to people after the Wall Street- and madoff-
bashing time. and I saw Pacino do a reading of it in which he seemed
involved and I knew Pacino liked nick: I saw them together on two
occasions and saw the email exchanges between them which underlined it
and saw the non-money (though always complaining that he hadn't yet had
a firm pay or play commitment by nick's financier ohoven) exchanges with
berg.
It is just such troubles that lead me to my view that one must define all
business relationships very precisely before doing anything. Your
conclusion is different: do nothing with friends or maybe just with me
(though I find it hard to believe I'm the only person with whom you've had
such experiences of possible betrayal). My theory permits me to leave it all
open; yours enables you to go the more convenient (equally satisfying?)
road: new friends. I like my theory better: most people confuse their
perceptions with the truth when in fact there is none. (Which by the way, is
why I don't take umbrage at your view as I otherwise would have to).
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Subject:
henry„ it is silly to deny what happened. Your statement to me that " good,As long as you decided on your own
, not to invest, I can now, tell you the truth". I also think it is guaranteed to lose money..On the island you had
maintainted that you weren't really up on the numbers,told me that you thought that it was probabaly viable,
and had little knowledge of the details.( seperate from the foreign sale numbers ) After , and only after ,i told
youof my decision , you told me that of course you had intimate knowledge and had been involved all the way
along. I can understand you not wanting to be accused by Nick of disparaging his deal. however, you could
have easily said , you found yourself in a conflict position so that you would prefer not to opine.However , I
only spent the time on it as your friend nothing more, . I need not remind you that i am neither bound to you by
blood or money. but soley by choice. I would ask you to decide if there is a chance that you are not owning
up to what happened, I am disappointed ,
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