My analysis indicates that PIR was sold for about $2 billion. If you take that money and invest it at a reasonable 3% it will yield around 60M a year which is a very healthy, stable and secure yearly operational budget for an organization like ISOC. As a result, I also predict a significant increase in staff numbers. -ed On Thu, Nov 14, 2019 at 6:05 AM Justine Chew <justine.chew@gmail.com> wrote:
Hello back Seun,
I would say it depends on the X sum that was agreed upon. I would be aghast if the ISOC Board didn't consider a significantly handsome earnings factor in negotiating the X sum. But for PIR's longstanding purpose-driven mission, this would have been a clean exit plan for ISOC.
But sure, we should all follow the execution of this transaction and beyond, and certainly, ISOC chapters and all interested parties should scrutinize details of the deal for themselves.
Justine -----
On Thu, 14 Nov 2019 at 17:47, Seun Ojedeji <seun.ojedeji@gmail.com> wrote:
Hello Justine,
Yes you are right i misunderstood something in your mail, but it wasn't the role, it was the word "proceeds" I had thought you meant the proceeds made by the new org. I guess we are both in sync then. Nevertheless it still opens the question of the fact that the major funding source of ISOC(which includes ISOC chapters)/IETF is now gone. It may look like they have x amount they've received form the sale afterall.....well that to me is a static cash which can either diminish rapidly or increase a little (if invested properly), which i don't think is better than a continuous steady source of funds that ISOC enjoy from earlier ISOC/PIR relationship. I still wonder, what the ref was thinking by making this move!
Regards
On Thu, Nov 14, 2019 at 4:34 AM Justine Chew <justine.chew@gmail.com> wrote:
Seun,
You are mixing up the roles of the parties. The new owner ie Ethos Capital has no role to play in and does not fund the endowment for ISOC projects/activities. Ethos Capital is buying PIR (the operating entity which is an asset of ISOC) from ISOC - i.e. an outright sale and purchase of an asset - for X sum. It is ISOC which will arrange to fund the endowment vide the X sum (or more accurately, the returns on the investment of X sum) it receives from Ethos Capital.
After the transaction is completed, Ethos Capital will own and operate PIR outright. So no revenue sharing is involved.
The announcement indicated that Ethos Capital intends for "*PIR to continue to meet the highest standards of public transparency, accountability, and social performance in line with its longstanding purpose-driven mission*" and to maintain "*all of **PIR’s domain operations and educational initiatives*" as is - these are PIR's domain operations and educational initiatives not ISOC projects/activities.
Justine -----
On Thu, 14 Nov 2019 at 16:58, Seun Ojedeji <seun.ojedeji@gmail.com> wrote:
Sent from my mobile Kindly excuse brevity and typos
On Thu, 14 Nov 2019, 03:33 Justine Chew, <justine.chew@gmail.com> wrote:
It is an outright sale of an asset, the proceeds of which go toward "an endowment fund" for ISOC projects/activities.
No revenue sharing is involved.
SO: This actually is quite fuzzy, and I am not sure how this will be practically feasible. I am not sure what obligation will compel the new owner to adequately fund the endowment/ISOC since there is no revenue sharing agreements involved.
Regards
The announcement indicated that all projects and operations will continue as is under new ownership. With its policy on public/community benefit presumably driven and overseen by Ethos Capital's Stewardship Council - I wonder who they will put on this Council.
PIR under Ethos Capital will lose its non-for-profit status, so there might be financial implication not to ISOC but possibly PIR's existing .org customers/registrants.
We shall see.
Justine -----
On Thu, 14 Nov 2019 at 10:21, Maureen Hilyard < maureen.hilyard@gmail.com> wrote:
As Eduardo said there are lots of unknowns at present. Who knows?
On Wed, 13 Nov 2019, 3:02 PM Alan Greenberg, < alan.greenberg@mcgill.ca> wrote:
> Why will it have major implications on ISOC Chapters? > > Alan > > At 13/11/2019 02:52 PM, Maureen Hilyard wrote: > > I know for sure that this was not even hinted at during the last PIR > Advisory Council meeting.. but it will have major implications for the ISOC > chapters. What are they/ISOC thinking? > > Maureen > > On Wed, Nov 13, 2019 at 7:59 AM Marita Moll <mmoll@ca.inter.net> > wrote: > > Had we known this was lurking in the background -- which it most > certainly was at the time -- it might have been a different discussion. How > much did ISOC know and when did they know it -- a question ISOC chapters > might want to ask. > > Marita > -------- Forwarded Message -------- > Subject: ISOC sells PIR > Date: Wed, 13 Nov 2019 17:38:29 +0000 > From: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA> > <stephanie.perrin@MAIL.UTORONTO.CA> > Reply-To: Stephanie Perrin <stephanie.perrin@MAIL.UTORONTO.CA> > <stephanie.perrin@MAIL.UTORONTO.CA> > To: NCSG-DISCUSS@LISTSERV.SYR.EDU > > > I must say, this casts the decision to drop price caps for .org in > a slightly different light. I will keep you posted as I learn more. > > > > https://www.businesswire.com/news/home/20191113005661/en/Ethos-Capital-Acqui... > > > Stephanie Perrin > > NCSG Chair > > > _______________________________________________ > CPWG mailing list > CPWG@icann.org > https://mm.icann.org/mailman/listinfo/cpwg > > _______________________________________________ > By submitting your personal data, you consent to the processing of > your personal data for purposes of subscribing to this mailing list > accordance with the ICANN Privacy Policy ( > https://www.icann.org/privacy/policy) and the website Terms of > Service ( https://www.icann.org/privacy/tos). You can visit the > Mailman link above to change your membership status or configuration, > including unsubscribing, setting digest-style delivery or disabling > delivery altogether (e.g., for a vacation), and so on. > > _______________________________________________ > CPWG mailing list > CPWG@icann.org > https://mm.icann.org/mailman/listinfo/cpwg > > _______________________________________________ > By submitting your personal data, you consent to the processing of > your personal data for purposes of subscribing to this mailing list > accordance with the ICANN Privacy Policy ( > https://www.icann.org/privacy/policy) and the website Terms of > Service ( https://www.icann.org/privacy/tos). You can visit the > Mailman link above to change your membership status or configuration, > including unsubscribing, setting digest-style delivery or disabling > delivery altogether (e.g., for a vacation), and so on. > _______________________________________________ > registration-issues-wg mailing list > registration-issues-wg@atlarge-lists.icann.org > https://mm.icann.org/mailman/listinfo/registration-issues-wg > > _______________________________________________ > By submitting your personal data, you consent to the processing of > your personal data for purposes of subscribing to this mailing list > accordance with the ICANN Privacy Policy ( > https://www.icann.org/privacy/policy) and the website Terms of > Service ( https://www.icann.org/privacy/tos). You can visit the > Mailman link above to change your membership status or configuration, > including unsubscribing, setting digest-style delivery or disabling > delivery altogether (e.g., for a vacation), and so on. > > _______________________________________________ CPWG mailing list CPWG@icann.org https://mm.icann.org/mailman/listinfo/cpwg
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-- ------------------------------------------------------------------------
*Seun Ojedeji,Federal University Oye-Ekitiweb: http://www.fuoye.edu.ng <http://www.fuoye.edu.ng> Mobile: +2348035233535**alt email: <http://goog_1872880453>seun.ojedeji@fuoye.edu.ng <seun.ojedeji@fuoye.edu.ng>*
Bringing another down does not take you up - think about your action!
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