Hello, Everyone,
This note will be brief.
I am not on the lenders network, so I don't see your letters unless they are sent directly to me too, but I am aware that there is a lot of discussion right now.
I know there are many thoughtful statements being made, and I appreciate this. I am also aware that there are legitimate questions and concerns about my decisions and my actions, including a request for greater "transparency" from me.
I don't believe that anything I can write will address these concerns adequately, so here is my proposal:
In the few weeks following Monday's court hearing, I will make myself available for at least two meetings to answer any questions you have as lenders. I am suggesting two meetings so they can be at different times and places (I am initially suggesting one in Chittenden County, one in Addison County) to accommodate people's different schedules and locations/driving needs.
These meetings would be for lenders only -- no lawyers, no BISHCA, no press, just you and me. My intent would be to provide a forum where you can ask me any questions you want about Birth of Innocence, about my role in it, about the finances, about Lou Soteriou, about Horace, or anything else that is important to you. For those of you who could not make either of these meetings, either because of distance or timing, perhaps we could do a separate conference call session for people who could only join the discussion in this way, if we can secure the privacy of it.
I am painfully aware of mistakes I have made in this process. I acknowledge them, I take responsibility for them, and I will do whatever it takes to clean them up with truthfulness and integrity. As you know, this approach is complicated by a legal proceeding in which BISHCA, from what I understand, is more interested in proving their case against me than they are in finding a resolution that will actually succeed for all the people involved, most notably you as lenders. From a legal standpoint, the recommendation has been to say as little as possible until the legal situation is resolved. But as it drags on past eight months now, this approach has left too many questions unanswered for too long. I am eager to have everything on the table with all of you -- because I think a clear picture will do the most good.
So, if this "open discussion" approach appeals to you, please let this be known, and we can arrange the details after the hearing next week.
In the meantime, I want to say one last thing.
I consider my biggest mistakes to be that I trusted Lou Soteriou so deeply, with so much money, and that, against my better judgment, I agreed to his insistence that he remain a "silent partner." I never liked this, and I told him so countless times, because I knew that this behavior was inconsistent with the openness I wanted to have at the heart of our agreements. But I allowed his forcefulness and his will to override my own sensibilities.
I am well aware that this breach in my judgment leaves me open to questions of where else I may have come up short with you. While I won't try to address it in depth here -- I will leave the longer discussions for our meetings -- I do want to say that there are no "deep dark secrets" hidden beneath my misguided trust in Lou.
I have no secret financial arrangements with him, I have no money stashed away. The sinister rumors I hear about "where the money went" can be answered very simply, and I am frankly surprised that it isn't obvious -- ALMOST ALL OF IT WAS PAID TO LENDERS, INCLUDING MANY OF YOU. My intention has always been to repay you and honor your trust in every way, and it remains so to this day. I could never steal from any of you for any reason -- that is simply not who I am. My gravest mistake here was believing that because this was such an absolute for me, that Lou's word was an absolute, as well. This is a painful mistake and lesson, but one I am learning at a deep level.
Of course, there are important details I would now do with much greater rigor -- for example, engaging legal counsel in setting up contracts with lenders, and insisting on clear written contracts both with financial partners like Lou, and employees like Horace. These steps would have saved serious problems for all of us, and it was my mistake not to take them.
So, my hope is to see as many of you as wish to come to these meetings in the next few weeks. My intention for these meetings is to begin to heal the mistrust I have helped to create with my human mistakes and fallibility -- and to find the ways to move forward to a resolution worthy of our story.
Gratefully,
Mac
P.S. The court hearing on the "Motion for Summary Judgment" is on Monday, Aug. 2, at 1:30, at the Washington County Courthouse on State Street in Montpelier. If you would like to come to show your support, I will be grateful for your presence.
