IBIT Case Document Filed Page of Case Document Filed Page of i3 iS 1B 1IB1 rso No No St Tho Vi qin lsl;,r.d.s A1El 3Rtl,I JR rm.cu JGSF Nt i:U."l lENR MIXK Pho Mere.be PEW i C1 mDt:tJ CE STACEt PL SK TT l-a9al PJ,.JJL LE l:MING Jl;.:ecto.r of Af?Jplicatit 267His tTH fOSt:PH An DESCR!PT!ON Meeting Called to Order Roll Call Re11lew and AilPWVBI lf Agenda Cases for Public Hearing EAfil I lnternatlonal Capital Management Company LLC Crnzan V!RlL limited Ernernld Beach Coqloratlon I Glacial Energy Vl LLC Tactirnl Enterprises LLC Mearing Adjourned TRANSCRIPT BY PORTERS COURT REPORTING INC PROCEEDINGS THE CHAIR Good mo ming Id like to call to order the meetir,g of the USVI Economic Developmer,t Authority Public Hearing Today is Thursday February 12th The time now is lil call please MR PENN R,H1dolph Allen THE CHAIR MR PENN THE CHAIR MR PENN THE CHAIR MR PENN Yes Mr Chair Exrnsed Albert Bryan Excused Lynn MIin Maduro THE CHAIR Exwsed MR PENN Jose Penn present Nathan Slmrrwndi THE Cf1A!R MR PENN DR SM!TM MR PENN Dr Henry Smith Present Mr Chaiir we have three members present THE CHAIR A quorum is established First order of busi!less e1ew and approval of TRANSCRIPT BY PORTER"S COURT REPORTING INC MR PENN Mr Chair Id like to move that this agenda for the EDC Public Hearing of febrwary be appwved as presented DR SMITH THE CHAIR Sernn,L Properly moved and seconded All In favor Chorns of Ayes THE CHAIR UnanirfH LISi TRANSCRIPT BY PORTERS COURT REPORTING INC of sheets Page to of PM CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER EXHIBIT 4J 4C 4Z WO 4O GG A AAO 4O 4ZODPPDA qr33 H8 r??eWFr4 wfP?3.b A LFG v?rc EE U?Po pJ1 4F 4H 4N 4N KC 4C A 4C 4NC8DD8 a PV X?tH H?9C t4 I A g/Sk??WDЫ?æ C1 5Z 4Z 4ZZD IcL 4cLKD I 4I 4II A AAO cLDa 4O 4OOIWWD z?II A 4A H8 r??eWFr4 wfP?3.b A LFG v?rc EE U?Po pJ1 4S 4N 4N 4NNPW 4W 4P 8T 4C 4CC KK8 a PV X?tH H?9C t4 I A g/Sk??WDЫ?æ 4Z 4Z 4ZZ cL 4cLKD I A AAO cLD 4O 4OOI WWD I I IIA 4A KQX H8 r??eWFr4 wfP?3.b A LFG v?rc EE U?Po pJ1 4N 4N 4NNPW 4W 4P HH 8T 4C 4CC KK8 a PV X?tH H?9C t4 I?O A g/Sk??WDЫ?æ?X A AAO A 4A H8 r??eWFr4 wfP?3.b LFG v?rc EE U?Po pJ1 a PV X?tH H?9C t4 I g/Sk??WDЫ?æ I GA KQX F79I H42HH42H Cv 72HH23JJ O76LM58N 6ON76ON A N85LJ78NO75LK68N 8NN87NN??6ON76ON i A M,f4 aD 8M?y A qr CTX sm??lqnj??kp rV A D?u/u C?l pѾ?z?5 9/rq CTX rKGrrFKKFrrGK Ct EH YTTY??XTTY 7A BF rq 9/rq CTX A 7X rkM??MU 6DzK I K5 qr rq Gs 7V V?U Nv B4 B4 4_ a q?q qr qr10 B4 B4 4_ a q?q qr qr10 a B4 B4 4P a q?q qr qr10 1y a B4 B4 4P a q?q qr qr10 a qr i NV Kh 2n AB4 AB4 qr?9 A ED qr i NV Kh 2n i AB4 AB4 qr?9 A ED I gC If I L5 AB4 q3 kM gX Ce EO q3 gC P5 E5 B4 W5 S5 OP4 L5 HI4 DE4 B4 rq qr qr a AC a IMp P5 E5 B4 W5 S5 OP4 L5 HI4 DE4 B4 3q3q qr qr n?ڲ 6J qr rq k"d NN?Z??V YT VG,/?I II?m gl??gbg??w5M WW1 G(G1 0o M7 qqr x_ e??ڸ am9 ST 1L?xLI TX A ll Bb g,D 1?cFJ 4H HPH 7?BBO DI kJ qqr e??ڸ am9 ST 1L?xLI TX ea OI ll Bb g,D?:S 1?cFJ IqZ Qs hc V0 a a a a a i NV Kh 2n a i NV Kh 2n I gC If I gC If I gC If T?o?m a a P?o?i o?W o?S I I L5 AB4 q3 kM gX Ce I gC If I L5 AB4 q3 kM gX Ce I gC If I?o r5 I 0G G?G GF 4P I I I NM45 I I?o q5 I pB?B?B B?B qq5 r5 qr5 I D?D?D?D qq5 I I U?U?U UT;3 qq5 qr5 I A AK;3 qq5 q5 I?o BC)2 o?H qq5 A?o A A 4P A A 0P A q5 A A?o Y?o R?o 4P Y?o R?o q5 P0 2H q5 q5 A A B?H q5 Y?o R?o q5 6H qr5 q5 q5 q5 q5 q5 C5 i I i i i q5 a A 4_ a 4_ a 4_ LM4 Ls4 E4 LM4 Ks4 E4 疇쌌 LM4 Os4 E4 ڜ?QO ı?bb LM4 Ks4 E4 U?L?灁 C??P OM OOMJM OEGG O6 GE 5MO6J PO B??B K,Shr9 a US9 8X Y7 9SU IiR KMz 4S S8 HA a BI I Җp pS!yA3 A 4A So 3I A2?i NE o5 ATT Id HEJz AH U_ On 3Q A TT IiR AH On A i i?V T?VR;GF a a?j i i w?VR;GF a a?j ڻ?ٻ P?l CTX I E(D?rK O4k scN?O x?m c.Q H?N T?er?C?pi?;ĺ 1y?o i qHO hDMLD h??lP Wv??uV ٯdj?_ EH EfnK4 EiiE AF ʚg DT:?kBHHB I 2??yO.Rj I ZK jA,AXKO kYN 7PK7 p?J PnHOQi BjPv 4o qr qq n??w?Ye mh?xV i i3n JPbl B?x Vz??f nd x?y_?z h?T?n?Pu?J?f?P Zd?f n?P?h?T d?P?f?J h?T?n?P?f?du?J?f?P??e cd?f??d BE4o BE4 BE4o BE4 h?T?n?PY?P?h?T?u?J?f?P?P?f?J?f eR FF 0L vtRZ 7URZ L5 uCC xx uCCu xx A x1 4p 4i A a 4p 4i A Ge A?;H q5 q5 4F 9FF N?N?N?N N?N N?N?N?N q5 4F 9FF N?N?N?N N?N N?N?N?N q5 EE 4B A A A A GH45 q5 qr qr qr qr i i i i HF qr HF qr i i i i A A h?O q5 h?O q5 4_ 4_ q5 q5 4_ 4_ P)p P)p EC q5 EC q5 A O;o q5 A O;o q5 OK OK JF JF _2 _2 qr F?j G5 qr Po C4 I 3_ qr ކ?T _X,PBHQZݙ qj0 KF?r Og-2 a a 4O qr q5 qr CC4 qr qr tK?M?L G??T lQ 2B Cre)VZ g4Dq A e?jv G??T AX??PY2B Cqe)VZ a a!?v/o G??Tf U2 IUe)VZ 9_ V?W nv 7e G??T kSY hyeVZ l4 qr55 t?H G?G?G GG _J?J PJ?J?J?J JPJpJ?J?J?J?J qr55 qr55 qr55 4F FpF?F F?F ƶFF F?FOF?F?F qr 4F FpF?F F?F ƶFF F?FOF?F?F qr 4p Op 4p Op I II N?N?N ON?N?N?N?N?N I II N?N?N ON?N?N?N?N?N 4o 4o IpI?I?I 2IE IpI?I?I 2IE _B?B?B BoB?B?B?B BPBpB?B?B?B qr55 t?H S?S?S SS _V?V PV?V?V?V VPVpV?V?V?V?V qr55 O8 qr55 F?F?F FF _I?I PI?I?I?I IPIpI?I?I?I?I I qr55 A 4A A A A?A A?A APA A AA D?T?4D?NO4D I5D 5D 4D OD DPD 5.qr 5q qr D4U 4U 4OU?U?U U0U 4UUPP O?Q H?K G?H X?T?4X?NO4X I5X 5X 4X OX XPX 4H H?H?H 5.qr 5q O7 5.qr 5q qqr E4H 4OH?H?H 3HHCC B?B K?T?4K?NO4K I5K 5K 4K OK KPK 5.qr 5q qr WS JFN5 AD UX HKN5 I 5E 4E ԵEE D?e5D?XY4D FH4D BD4D 4D 4D 4D 4D 4D qr5qr qr I Y?Y?Y YYPP 4P 4Q Q3Q?Q Q?Q K?N?I?K J?K?H?I?J?X X?e5X?XY4X FH4X BD4X 4X 4X 4X 4X 4X 4H H?H qr5qr I A4 FH47 BD47 qr5qr I L?LPL L?L?L?L LLCC 4C A4D D?D O?D?D K?O K?e5K?XY4K FH4K BD4K 4K 4K 4K 4K 4K qr5qr q5 qr5 qr5 C5 qr5 C5 qr5 qr qr B5 PQ4 G5 4O qr qr 5r B5 PQ4 G5 4O qr qr 5r I FH45 BD45 qr5 I FH45 BD45 qr5 I e5 XY4 FH4 BD4 qr5 I e5 XY4 FH4 BD4 qr5 q5 q5 r5 r5 T6 GXF V??fA?s Qi??d 0W 4p 4p O_o HG6 A A Uam q5 2M I qr 2M I qr lE9H DM8 PA0 g:7EK b6(x j?a FAi?mv7 q5 q5 q5 q5 qr qr 4d 3cz Ckd ae 9_ oURb ee G?WfTp H6 8B q5 q5 q5 q5 q5 qr5 qr5 ȷBB 4E 0E qr de4 Xa4 MM4 4_ 4o qr oURb I?NZF,p8 a G?WfTp FyF BB 4E 4E 4oE?E 4_ C4 4o qr oURb I?NZF,p8 a G?WfTp f"D"f F?F ot E?W ot gJ X7 E?W A 4p qr Ec;m X?iP pZ:mN6 I jV qr qr 3?iP I I 4JN 9qq9qr wg 7AdB i I MA a l??s Z..Z EN??j LG6EC;M6 ɢu 92f?VM gY ui om ZE 0W ZD7 DB?d frm ki hd dhhd N7 7N dh?N 7M M7 7M M7 3mm 0E?E?E qr H?I p?t?u ZZ??ZZ KT;;TT;;T I u?u f?Z??ZZ Z;SS;;TT BF4 RjU 3P9E 8Ad0 Y?T M4 10qq DJC ai MPU CSE39 y??R C0 a9 J5o9 qr LG5FE9M6 l?N 1f A X??Xڦ??J a Ψ?h Y?T MK MK HF HF F?j V,v q5 a P?c M2a oKGk 1Sc hx BC4U E3 f!v a hx p(D 5PT B1 tP KfK i P?ZZxH?,HF SPk?8(6D b?et A8z pmJ KfK HT4 E4 E4 I J?L?J?L J?L8 MW4 HH4 F?F m?p C4 C4 f"D"f F?F 4o QQ 4P 4oP?P VRRV GII hh PP?P PPkk PD D?D DD__ __ DS I I?I?I?I ID5 T/T H/H H/H qr5 4G GD5 G0G?G?G G0G G?G?G?G GpG?G G?C5G 4G 4G qr5 P0 C5 qr5 4F FD5 G?PQ4G?G5G 4G 4OG?G?G oG?G?G?G G?G?G qr qr I NPN?N NH5 I I?e5I?XY4I?FH4I 4I 4I 4I 4I 4I q5 I e5 XY4 FH4 q5 FF 4G 9_ 5J Ex NN?.b V??A mU 4?QQ EPE ݴEE 2d 2d 6l 6l HC"C"C""B0 1(CB(DG IG Case Document Filed Page of TRANSCRIPT BY PORTERS COURT REPORTING iNC Thereupon Maria Hodge Esq Darren Indyke and Jeanne Brennan were duly sworn and testified as follows MS HODGE Good afternoon Members of the Commission Commission Staff My name is Marla Tankenson Hodge I am the general counsel for Financial Trust Company Inc and have been their general counsel in the Virgin Islands for many years I am accompanied today by Darren Indyke the president of the company immediately to my right by Jeanne TRANSCRIPT BY PORTERS COURT REPORTING INC Brennan the companys comptroller and of course you already know Erika Kellerhals also representing the company and specializing In EDC matters someone who has been an assistance to them in making the application to you to make sure it was In good order We appear today to ask your approval to extend my clients existing EDC benefits with the exception of a single modification going forward The request is that the minimum employment requirement be adjusted from to persons The representatives of the company will speak to you just a little bit more about the reason for that request In order to expedite the process because its afternoon and I know youve been here a long time I would like to just defer now to Mr Indyke and let him tell you a little bit about the company and what it doeso And I hope well have an opportunity to let you hear about some of the quite unusual things that this company has done over the period of Its first certificate to contribute to our community So with that Mr Indyke MR INDYKE Good afternoon everyone As Miss Hodge said my name is Darren Indyke am the President and the Director of Financial Trust Company Inc TRANSCRIPT BY PORTE.RS COURT REPORTING INC Id like to take this opportunity to thank you for allowing us to appear before you and in support of our application And I thought I would start just by telling you a little bit about myself and how I came to be here before you today after which Ill give a brief summary of the company and then Miss Brennan and I would be pleased to answer any questions you may have I graduated Colgate University in with a bachelors degree in education and economics After graduation I began working for a small boutique law firm of which the founder of Financial Trust Company Mr Epstein was a client Finding that the practice of law was enjoyable or seemed to be enjoyable I followed that up by going to Cornell law School where I obtained my law degree in After graduating from Cornell I went back to that same boutique firm of which Mr Epstein was In fact a client and continued there and then went a brief stint to a large national law firm That was for about five and a half years At the end of that period I was given an incredible opportunity and that was to go join and work closely with Mr Epstein who had become kind of my mentor So I guess you could say Ive been working for him as an attorney advisor a personal representative for over TRANSCRIPT BY PORTERS COURT REPORTING INC of sheets Page to of PM CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER Case Document Filed Page of yearn now I was with him when he first came to the islands In and when he opened the companys doors more than ten years ago During this time Ive been actively involved with the company and its operations and Ive worked ciosely with the members of Its staff And In that regard Id ilke you to know that both Mr Epstein and myseif have the utmost respect for the members of Fl nanclai Trust Companys staff They are a talented dedicated grmIp of people and we are very very fortunate to be working with them In September Mr Epstein asked me to stand In fo1 him at that time and for any period that he may be required to be absent from the territory And since then Ive served as the companys president and will continue to do so until Mr Epsteins return which Is to say that lam here only temporary until Mr Epstein returns and resumes as chairman and the president of the company I"m here to watch over and safeguard what he believes is a very Important endeavor and some very wonderful people Let me tell you a llttie bit about Flmrnclal Trust Company Inc Its a flnanclai services company and we provide kind of a broad range of financial economic and business consulting services They would Include Investment advice asset management advice and assistance with asset management and structuring and negotiating finance and TRANSCRIPT BY PORTEHS COURT REPORTING INC business transactions We market our services to Individuals to trust foundations and a va rlety of business entitles I will say that the company has en_joyed a successful ten years In the territory and weve prnvl ded I think wonderful benefits and opportunities for our employees and In the community at large And Mr Epstein and FDC I tillnk have had an Incredibly positive economic Impact on the com munlty and with our employee staff And Im very proud of that record And think tills is something Im sure this Is something that I would like to continue weil Into the future And thats why we are here before you today So with that introduction done think It would be appropriate If you have any questions Miss Brennan and myself wlli be pleased to answer THE CHAIR I think one of the things of significance Is that like now were seeing the first graduating class of tile designated service businesses because you guys was on the fkst tip of that wave when It started coming In and coming back for extensions now And I guess weil be seeing a lot of these In the following years I remember wilen you go to school they tell you look at the person either side of you They wont be there when yoLI gradllate Sol guess for us thats what we TRANSCRIPT BY PORTERS COURT REPORTING INC are seeing now You guys have survived And In reviewing the application I was really Impressed by It because I mean you guys did It right You really contributed to the economy You made good on your promises to the EDC and the people of the Virgin Islands And Its actually a pleasure again to see the application come forward One of the questions I had was correct me If Im wrong Counselor this Is subject to the same five and ten year rule In the extension MS EDC office as to the poilcy But obviously we TRANSCRIPT BY PORTERS COURT REPORTING INC seek the maximum benefits that are allowable THE CHAIR I think we did get a ruling from the AGs office MS THE CHAIR No What we did was we gave the benefit of the fi years at percent and we are lobbying the Legislature to have the law repealed Thats what we did That was the short way of getting the applications through and getting everybody their tax benefits without waiting for the legislature to make a decision MS KELLERHALS So you did five years at TRANSCRIPT BY PORTERS COURT REPORTING INC PM Page to of of sheets CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER jS??A?a PE f?P?xEӰE A AA P?B ih(?cH6 ONW 7a 7cxAvGA D0 D8 v0 Zw w?B;?B A 6?QA?a PJ8 pe8 N??mò AÆh y?ýTs w?(w wX i wD xR a S??a AÈ1?E1 xPE Q??i vgL0?V?n x ?H a _dua a u?wxAxA _x DaS?1 PL 0N 6Lr 9u H??D FG:M gxFu q?I b?o H8a ϨQI 1Q JÄ?/?Eݦ q?w l8 o?m N!2?BvS vS??c Jq JpE?6 c0?ˠE?ˢ wb dsN a N?w VG:n a n?o ۱B?v TB A JqQ e8 nS?N?cgq?1)?A P?S i ʌ2 De8B JO q?D qxT DG O?v Ոe P??DlD DE1 i?G A N?g Ț8?W W?ú FTu C??S H?gW ȶv C2 sVu g??y a??T aK??VjI q?a B??o ڄKQ 5m 7?C?tO ax??tG N?y 3E?v?s3e?OA H暗ϠX 쎴?aa j?4J i sԝD xg v?h?9V hH x?E vfˠ v?"臗 vO?fl?4??m?p?X Т??i Rc?w;?"?ħÙ?LJp ò?h 9n ħ?q fm3 8v fn 0E r?r??M O?O?U Prꃸ??b N?NLv?xE xE ww??Azb v?A j?æ F??l 0??UPM?ՊA?wwz 0?Atº 0ħ Jq Gq)?Jq SŹN yN Jq _E 1?Jq Pl bS?w 8Ĭ A Q??OGt m??U A XH?E aBJ6 PEѭ I E8 Bq zz?Ar??.Ԉk ﰁw?x Ua aa Lq 0B?N i ÇA A pÒ I6 u?v?A p??S ħA wxAw Awz?߄ xE Aw ao LTS a Cn 8?Q?F?Qī p??b m?N a x"??Fr A xۄ S?:MhHS??q?Cj Aw?P w?v a Dv jW?v ƙ?v dq,/?dudt C?dx?l v?cE8 8ۍ q??n?p LΤS?8E?E?m A?A a 8A Jp u??q N9wYw ds?l ds wp O?b v?űa XA A v6?ӌXŏL?ض,b BS??Jw JqA B?N M??p pE u?g A?N AJr?L S?A?Z Z1 E?D3?v DCxطA b"-Ј Dj?"q HT EEW,Ԍ wAm W??t n?"?wq Q)ħ dOR Fh l?a GWy Duw A z?G ǺpE?xR?Ǝ?S?C?S 4?gL W?k?h Ww?P??GiN??ݑ CD c.g a?H?_p B??e?A Q)䍳T vi 3Ͳ Z.?i f?vg 9t?L qP wiݑ wxE C?N dt wi M?8oN جw h?N XE?Jq Ԡħh v?v Jv S?S??w t?B QR Tī pi?T u_ pO Ok Szc duW v?t?xAw P?q 8tS f?p?nێ?6 E?T B.?帅 A Em a XE aa Av pЂ?Q P?B A lm(Д 8?xQ Xm u_?t u?P _?wa Am?8 q?wA1QP?4 A t?x Jڌ?v?l a?E O?r ds xAw 0O GW a 8dt ds?ڷ e?a t?_p?Jq 1E?N PbS?b PE?Px??JqR?JqH S?O??bS?O 8?xR?D LJq Jq?)ħ?xQ A lA?N?4 oe Dn P??F wA ZV?"긋 W??WAm wAm?E FD2?M??T?L w?Les6Teq?GD kn 8?촳;O?PE ȭᕵR va wTBdtHds H??vGY U??O Fq)Ƃ uT?_ tPˮ?x??r g?Fl?e?I ėD F_ a??8?FGa BD P??D,A CN N;M0G XE qiݧhZ BH?Kp?q?Z:2 tE wB Ѷq 6y dC zg?pE?bS B?p?BS N!A S9n??Jv?q??n BS?H L6g FtgF 3G xї tkeҗ fo a r??O 8iن wݧrc wv wv zww?wwxE BpЂ Bt A I??V!l.?Wݍ JqA(??q ħh B.?S?N B?N E?q m?Nã ħħ F2 I?y?S L(O Dq?q hq u?B wpV C??E L??aw??Aa QLz dt I P?n A1?ħ pIA PE?v?0?N t?ps4 E?a nje 9n Av wx Aa E?A QQħq Q۱)ħ?a S?a pħaÇI A Qл BA G?B5 XAa n??B CX?Nx PE?p pE?n E?g??P sm Pm a0 B.ˠÊ lB 3E?vp dtG VC N?r?l?쎁 dtr v?A??d eՂ wV F?w n?eQPn lB?a A?Є JqH v?BA S?OAF?)ħ S?N Jv l?Q?R?J L?l n?n A Xe M?b?7ub?Uv Dqc DD a A wAm?2?G Ut N怋?f?r O??Dh S!V iݝ?d??בtD?:8?;L?fGW 4?bV 셢?.?ȺA D??q Q??B n?A P?;?ݡA Ժ!??gFK??Ȼ5?:8gDFe f??H DŽP ݽ?A Ʒ?K Ր읢 Gy??㩑ټӑ s4 脁f??i 0G mY A ͱFm qA 8lJw3 W?臗e?C:3H dC f?B tr9 G??s h?y a;Ӌ8??XN Afy P?ӻ ڧa v?E x1 0?Lq a N4w E?bS LJv E8 gqA?N JqPE a i 8?pB A A?p?A __ E??ǿ?a pr뵡 I dt n?c?L ҽ??H DE h28?ݷj za Awt x?Lh t?EJt Ba TqM?M?7 t?E EXe?c?𣆁 bS EӇ??ħI t??m?u_x jj ds FI Y?F o??ﻻ ww qq 2?duDŽ cw?F A JzQħ A A?S a?N QQ E8 Jq SpE 8v X?HE A cKJ;?p Cl6?N ZA xAv C?f wa Aw Ƭ_ㆿ?N0?a Az ʅv??f?c V??wA c??ƒ 8w A?Xp?E I?E?b?;I I MRA l7 tH A Ћ??E?e A a E?H0 a i w?a a O??n CnLudp 5b lwa m?n M?l3yt CH I E8 h?x 0A A??A R?0X Qv_A lm LΤS pEӇ t?Jt?0?I 9N e??q a Ġh81)Ј?S ux4 DG?cxAwwط w?ݍ?(w w?wM C?e C?a w??n?P wA Jv?bS?h3?S?N?ݶ LJt PJt P?w S??B A?BBS DTDG Dq DDrlD?D"?B6 C??uۊs 8p?E?Jq lBA 7a A wAS A AKp??iQїZ?ү??(w whJq dUC wwA tB?a?D B?k p?a AŨ e?A fl?e?v_LїG?쿠 pD C?EB GVGD?GVG?dwy j?g tDt ww?p m?B A C4?HQt A A A BS?qÎ A tħ A A AB?V tĬ r?E:?W j??wkt vGW C??v a ܧr??0t QM M?S bT?J A?B N?1P a EG PIA xE i??AZ?b wݑ am?a q?ﰜw QQ L2 m?ħa pE 0Ҏ Ço VG_ CK wV _ww n?Ƿ t??E ov?H:R H?x mÆ E?m?n A P?E I I G5?Ϭ C?n?B du 7a a A dul ds?1ߢ HTqPE a Lf A a?c e8ll4??N E?J A w?G;?v L??XW M?T7 CB Gvħ S?bS l?!Jq A?P m?q)?LqA Q?)?5a?Nct t"0B OCC B4 DD q??H Az A A wAm??vK I yi?a ddj 4g G2 dp?y84ﶄ?lB Љ??KR NX?X ҠE?h N?E Jr?Jq?q y?v N?w v?E wwv b60?vk Q?)N Jz Jv m?N4 E?Jq)?P S??E?v?QLt?p?s?S?ԧ t?a CW?t dt 3R0ϙ q?w?I C?Ĭ GE?a?G 8?aڈR?r?e h??fl wf N2 4S E?E?a J??U ד?x S?-?kxX u?e?z NBz??o a wv??P Zx C?"?vGA w?(wA dt qHJq?4w PFq)?J BbS Jq LB?.?V p??zbP?J?G??Dt PE A0 N??q S?m wM Aw l1 QŅ 8a 8R e?q kq?HTe?v??Q Q??N A PEԡ?6 YN(3 wx i?t e8 E?E Æ?h A ބ9u vGW _t rc??v 8x wIXm P??t AF?.?tP??EA PEԧ?a A?n?S A L?a8ds Nˠ 4Ӿ a N??GvG rc?ul ܘ??x ݷu lV n鈆 S??F?bS?O??S Jz Jq ħR uq Jq j6 N)?N c?N A uXnŸV Do Dv?DGT?툈?hD8 PEӇA pE A wAgd h?w Au??u꺦Z Er WA1 ߄?GS?L td e?tq g?v tq?a vK??㢼ڮv?W?U S??E?Y kI 3?TGVGF hA 4w vk 4E?W 5f?tk?њ S?5?PȄz3Pe٤??j?tz TaR?X Aj XN A I kD fl AP f?E?S q)?bS?w LX A i gFD2 e?j E?q G?8fy g4ӓ wiݧ iɎ wa wi?ww w?du wa 9a 7q 8?JqH Jq CbS?N 8q N!D Jq)?bS?Gq tĨ bS?E?Jq Jq)ħ Ǭ9t N??Z?x cw p?av 8CM C?7L i??k ww T?ME t??xô?cC?m cA AA A E8 a S??f xAw cw up?M Q?q 8?AA wH AC??a o??W?Fk A Aw Aw c?h3 TG L5 rMB dq 8V?Pñ?IÇ G?E?J qA Jt A W?u?G GJ M?ˬ dts vb?lp vG??x 6P wi oA 8v E?U?qH Q?E 8n E?ñ Jq)?E?U?q)?D?E?gq ۶ꝦP M?5b?SuT eR?6 bS?b?Db?Sp?t _?pPE pE t??vJ G_?G ωN EԷ?𧝌?B?Au?,?2?Vv AW Is?X?Z Ge h??B i??n AFr py zPIb j?E w?l aY?Ց sF?GF vfdvi?vD h?d9 D-?v 4GA8w Zv S?O??p PE 跕V i h?v E?N 8r d5?Ό x?C.?R4d?vf쿘e ryvf H??dx dtg a2 dt wi?و V?wp쎓?쎓?1 zv C??ds OA M?X i?Gq?I E8?_Gq?T?e 8??Jvħ A Jp Jq)?Jq S?N6 8lJq??Jv ħhJqQ)ħaÃ?q u)ħp h?A?R??L Q?a?;h S?ǡ?t m??XE 8M?P DZ?nżl a 8B?P p?n?L PB 8i Sp B?qO a Ż??c u(xr a?AC uEۼ Aûn Gr C??PAI?ﰂ cw SO wcw??q?i(E v?J?n Ai a nۺ q?IGm S?E??S 8?AB?i l8 a Jq)ۼ tħ Eշ x?B A q?G B)?A a ww?w GW 3I Tq a TiBJ l0 J?e?x S?Ul o?a ˬw x0 k??r ꭱ3 tӿ 7Y _d Rcӵ v?w n鸭 b??lB?ύ??H8a f(?Gq p?B??pE?:AEJp?b?h LhR n??J A A ħI bS 6?E??qLJ wn?w DDG?w??w wwWa Aw??m?um A bS?LJq O??S ħ?q JtħC)ħC Aw a WA7 A wAm??c?d??E?)?Ϯv z??OO S?E8DutM a CzۉOb m??bj?Z A PE w-?v _aSq j?v xE a A ǂB aI fGfy??G3Z g?xR hdv?K,r?h G8w dut qħm5 GL?ԧ w?Fq?q _H A p?N qH ħ?g n7?Hڲ j??Y i Ի3z ՄP?"??Ud dod u??i GffG??:/?GF GffG?F dvy pf p??vG wqw q?l A V?ŰV A HJp?N Ab E?ħp A 3?Eӄw B?N Д?N ħq E?Jq Cp a?o a a cwi i P?7pg cV I??B iG oN zds?A a i gt-Z)??S?A pL0 Eд a A A a n?8L E?q?h tke?aB?bS?"?"?S a 8P u?u?u?uB?C n?n 0?Awiû?AI aa wo zV E??T l1 LWh??Î8 xaД?Â-?A n?E?Jq?E Jq)?w p?C?9c pԸP?"ꠌ?톅 un du D2?dt q?E A Zw Q?A bS?N m?q??E A pE I P?Ҋ A PE?P?QH GI a?iA 7?i?Yw u?p շwvGWu?w a aXAvGWkv??e wm?v Awum?w t?Qtr0 a 9G a 1Q?A E?y r?T?-?Jr?T E?v?A v?bS 8O)ħA?V??N Ցϰ m?w Sw??ݲ Ủ?b ƄDV 1ħ lJq ħm1A?N S?ObS tħ bS?bS?A?N pqt X?e DF ۍ?Ħ W??t Kn wAo?t??W 꿝?ߍ2 O?їz?Ҫ??G ކ?e??m X34E Bv2 ᝬI Ldo B.?N Gq 8x ȭ?K?U v?i?Aa L"?w CL S?aM?4G?s G?y G4 9s S?S wp?A A 4gX?A dC A Є_ bS?g 8q R?Pm?N0 U5 Xfx"?8kg i?CVF Dv 쎈癢9 G4??ɎRpPa 8d ivb vG;?c?a zv B?4쎓 vô lq _q?E S?Vg?vK A 1LQ 8a pá?u Jq?MA N?BS ħp Cx?帔 8?BGq 0H A NR AF?H?4 sM Pt?O t?w Uq XE w?cMݧ 8Mc FI?ߗ Jq)?h A x?M?b A pE?q a b,i PE E?xH a t?J?A xE8??n?q?t E?I Yu_ P??U _m?w AvG0??a aa a FW Aw q?w x0?wt Jq t?i l8yN A QŇ U?ϝ ħ??Q?r?Ϋ V?J ٵo5J E?l7 S?p?P?PE?T cwЏv pOw?Ƈk a A pt EE Px A?TpE iC a??p a T?j e߂ w?ua 쎭?a A n?쎮 Rc M?p?C ŷ?q?l7?wwA1Q cv?EF?Th A qQ?qG Eԧ?_l N8 o5N_ O??S?q E?n bS bS?N 廂pbS 庉N Pj?gr?1 ħO n??k ytG q?u OX i Pi?Pua G2 i?E m??M?x o?b X?M Da?Jd JY Jqħ E?hZbS ħQ q?!BH1 A1 O??A?Dq t??P q?j U??w?n o?y VC wAED r?"?P?őC C??U K2 d?w 㻻,ы sL a ȞDvR?b Jq Al,R 5?ɄN p?ñ E?S??EՇ?n E8f _9 瘍2 S.?qe?tf Hd6 b,vD hd gD 3Ds 3Ds a T"?v vŅ ʴ_ H铣??BS QB GD S?F N"?ٶ hJqGX FqHJq?)?!)?A AGq??JpE A??補?t EԹ G_?E GE?5?3Fk?j x/?ڂ S?Q zwi?߄ A ݧw??w 㫻N?6?wwa?A??B 6GA pO N??l W?A1Q)ħ Jz;?N?S?H N1 9N s?bS Èx?o TQv D?bT?J I cA I EF MB.?LaΈ a E?Gq ÿ??G yu?_ a wwcxA wwa vU?du T?x wb j?WwK w?qR Aà?H?CAXx?;?P??l J8 x1 AA iF JzQ S?e c/A E?on A t?4w vk Ǝ??J 8S H?q?a?A Av wwu?w?߄ nӠ?w?w?a n?w O??V A v??m Gq)ħ?D E8 n8??m?h?bS a?"?FS Q?t Q?x㤝ü BA t?I??E?I G_ xAw WI vGV?v v?a v?A?h3 w??w?4wa I a?Ҏ B.?ÛH p??c4F a a A S?Oe8?N Jp?A 8?hi z?E ds rc?L N?n C?ﻎ6"?SwWX?lGA vP??C MP P?qƇ 7A1R?JqQ v6 a?N?N Jq)?Bi?O a??Q)ħq A1)?Jq LJq S?O JqAҰbS?gq Jq?a hb?F?h д?N?-SC DDq p?G DBpA DPC E?J B/??GpE wAo?zۂ.??ax?h-??pE wAo?zۂ xe?n?Y?qP SD c?GL 8E h?m?H(?m v3 Eҝ?zdB Nۻ 5i?J?좻 a N!8pħQ vj ugF e?辂 E?F_?A ve??R?vf?O??vi v?و?u?K f?E _b j??y?fl pӴ?ӻM i?NӰB?LDŽP ww?hY wq RD?:;C4?ZD Qw x?P?Fl fn h?Ą Qvf ħa??Jp t?p?p A Gq _bS??R Jq Gq YN?ħl0 Bgp?Q 8r kEmٶf?n8?E??f yt u?yw?o Pwp A??rc ݧa N?wi a C?(ww?wƅa n?b а?6?Ap C??Wú?W?lE Jz;?"?a?ObS?N 8h Gq A S?N??Jv R?Jq?q)?JqR?Jw tħ q)?gq ħA?N r?Jq a?N 8m Sĩ S?Q??E?hl E7 uv?t 8pW e?x PE?J t8 a k??G G?q c??L U?P 0C a 8d AvGXAa PxA?P?EB?6 q??I pݥ FF xP?AA PE GP?P?A ħa?pE?S I A E9oAEA _xAa oN XAp Jv Ju Ju M?A?Q HN T?l;cq S?j qO cj4 i 8q?a?a?p U?k m_ G_c?w a ﻲ:L uw ƅv GWao xE Pdt xH?I a A 0hB Jp턗?a xPE?v 8H ħ?q)?gq D?p _PE w??-p밽 ai XO za GF GP xAx 0O AaonŪn eVP ح?w PE qV?v A qP ۂ.?Ђ t?E ó?gq gq A A?N Bl mE BLՈ w۷Ӵ uTݍ V?e m?w lDc f?Yb A gFp?N H?UH?ô dtd H?eW aI8?3I?.?FEQ TD P?QP?E yR3?dGD_ vg??Q 鑕??ߪߪ Gp e?S GqP?1 C??t JC?B nBd EY dsSٸԋ 晄G H?ex(0 n?o E?E8fl?(e xї?e wE 4o ÈE?I Q?0mħa aQ bS?n0 E?p?k?D FO?e 3G3k??RԺ tT dth w?iܘ??wa VGI NӰ?a 1v q?t?xE q?ޝ t?E8?w a xB?Jqݥq)?D BS hJq NД??Jw S?OA Jq??n Jq _Gq _bS?BS?xE bS 8qHh BU?e XE?t xs C??x?oU ߗk w?7x Wcg 鿰G b?q 㰁P q?mŭ A Lh a M?A?AŹN xA A FmJ?a A ħ?E bS 9n Z?h xE XE a vG dsﰁw?wXAw?8?ﰝ?a G?n??(wb HD LB ħq x?E?w I S?F?Jqۇ Jq tħ S?N x??S PE x??f?p pE?A?;??mF 8x a?G _aB xMn??N?N0?(Hh t?Çi 8A xN AA I A?P Ha?ħpEԧ??O P?m i0?xö fu tr??F?p HQ iv i Nﰂ i dx PvGWrc?d 8lBGu I a?A Nκ Ca?e?Qv H?cH?m(E?h n2 ۈE?l0A1?e Le a?I p?LJpE Bgp??S?O??S A PE t?pħ O??S gq)?Jr?1 A?N Jt ퟂJS??N Ъ_ C?C?x!q DF wM?(w?(wO?b Cb DDlDio?Jq Jq ħ۱ Tw Jt Ј?c r??P a eߪ xLR;?N tM R?Ե AdtL E?x i;?Od A gv 6T?t 8E pE qI GA R;U Dufl?و 4e Jpˤ 8fn ޗE h?E tPˢ??q Xz 3DvO Ge kD??Gfh?m 4Vu??f qv i?w?P v?w qݯ??c yt ÈH xS _B y?"?AA A E8 lJv ħa pE?e zމOaD A2 Jxf?n A MĬ x?OA A?z w?xE P??T wv 7ZduI p??w dt l?uI A Q?v Jt a P?A?D AB i a m?n Dt U6 Q?a?UQ?v xA q?z i GX wdt vG4 E?D?w ʛ?a N?v N0?H qA t?qQ?MB??8 i iG xw QW P?9C I Aٵ A J)?v a a Wwv lF a Ak _??xLR pE GPE TwA 1PE Uæ I A t??S jG_?t?G g??ڙ u?w dtuDu w?GG??ACN udtr:?v rc du 8i A p?(??E?iBJ QW C?J e?xLe?u;?j 0A I tħ E?b t??Gq?J bS _Gq)?Jq a I?N4 x2 O?z?v?j k??b Ap ۇ?wm?_i??u n?P??C?n źI?l7m n?G xLT Sqħ?q)?h?6 S?S JqA?N gq x"??JqA?bS?LJq 5q g3b"H?DlDhDT?Ǫ 5O i?q?G B0?F E8?N!E P?a L?P EW EW xV SE?ї A քZ E?E j?hTF ʵƄ fW?dk bS?O Ga I1 Yn??3?L?ga A?ւ Ahq a?m q?n??O ђl E?U_ T?zU VkE dt 2臗e?k?q aA dv a S?E N??E f??H L?E ƚPE a?P?4D 3e?F?Eڙ?wPE a??3?E?FpE E?w E"?Jv?q Jz)ħm Jq Oe Pe an S?PE m?z _O??wqv Aw 8ۂ xr x?Ż S?S Jp?ݘlJv F?AE XEՠ??S??.?U?Jq bS Bp?JqP?P?Tܩ?w mH A LR pO t?h Pv?ö?v w?N _w ww 菡?m tkq?n A xE?i O??PE JxJ l6?g E8LJq ng 8UT?H 9N?B aö KWZ _v XA Ai?w A i??Q A?xo??W a Q?m?h iG A AK 0?EՇa xã uA?t a?ۻ R9 W?ë q?E?w?v?Q?GV ޱI LB dt A a r?a qQƔm HSHiE a?E E?v L(E h"?V0E Cgq?l8 7v WU?z vGW ds O?9??GvG rc ﰁA Pw?F?q cm 㲇u?q uoCt ÉN 8q A Le E?h?ħ?q)?ħ Eՠ BbS?N Cn mħ ħiB??pA bS?p?-?ħA gx A?b N?C oe C?o?U b;w a o??aª??x?p UW;Udv hw?vK?h a 꿮M?gf??NG?3 a GGz?8?B0?w v??Sʫ 8i m??h 6te ė?L Dt ˣ4b E?R??t AT q??3yt dt?iݯ a;?w duw?v??i wf?M5T v??E Ӳ:?Ӿ xA qAPh e8 N9N JqA 8h lJq?q A LJqLJvc?.?h PbT N?4w 0ħ a?M l?s E8 A A LD 酨?Ab C?c?E cض?E aZ zq?v A QV?x Pj l8E Dt Ϡ_ w?x Tl A S?A BS?O??N9N 8?bS AF??bS C?w5J n?l 8W l4wlR pE?U??Q?ZQP I?QA 9n 3UU Aw GK g0 Vm?G H?L2 Xt xR Sð 0Ц UHU ǧ?w wM AwL!?D n?U2?xn m??V DEl8??S?LT!bS Jx1R?Jv Zj Tqq??DA?DDFS lDE UQ DG xPE a Xw gd e?FpE ꪟPG vGQ S?e?o??p ĽA d?eם _?wfIH Y?I BS?b A PT q?P Db N?b HFq e?F_ _Gq _bS 5e٦a x"?Y Y??f?쓎 B8 0e A2 qû xCN?E PE l6 I 8q?S Jq??Jq?e?E??S Eգ Jp?N E8?Fq A HθL9?Jq i N?H PG t?E a І?(t p?ض Zb zc?w 7M?H X?w?v Mn P8w Bc?"?n??pLm a iBl8x??P a lA A?IF?T?vۇ A O?E A ʊ??B?P Zq Aw??/ka E?TTq R?Jq I AÇBS?PE S?HOh m?;oa?F P?A 톦H N?R X?MC Tv e?b?A(?n ń?z a C?n?a xE b7 o?B A BGw E?w a 㸦??W Q?F?oiBm?0?O I pE?T A PE??0?aa?mü a?h u?E?a ᅸe?5 A a dt?ݑ?vGW?g Ap N?p Jq 1ħlP7 a?A I L0 t?A a?qPE?(8J 0E t?u A qIF??S??PE ħ??ħ?Gq)?ħp Mh 8?m?ħR?n LJp??A o?k UUA D8 xE w?P?B(wMݲ?u?w nƂ lYG hlDE ħA?N e8 P?yN gq 1ԧ 0ħr?B wa?b S?A?N M?0A C?a X?W??w ک?N?Gz JqP Gj?Sfl j?u e?ˬ Dgh0?ޞ S?ep4eDv A P??vFvB v?A Um?z)ħ kML?t VGV xa?z LF?O GE GE GY E?m?F a?H"?v0E?qA Fq?ш A V_G yw?Fy?O?fh?g?3 Xfy vGm N?D tG3 s3dv 4Hv?gP?i Ző?v??GPv T쎓?:ON?N xA w?űwv e٦i?E Qvf F?菓 E??q B/?T Fq E8 E8 nД?bS?S?gH?Gq s?AN?S??N9N 4S?ԧG lJ I C?pO?X q?v?wA wv 㻰o??G Rw A P?뵸Wc??n o?!7p?XiՋ Յ?Ak 3F A a bT l!R A J??S N5 Ɠp P?c a qA A7 M?H zv m?A I x5 a xOO?O B?W ww ds?8hR aa A Aa Aw i B??m?f0?TiF A Jq Jq a?LJu Gl A wP?AN?8PE?X?m u?D wa i ﰂ?G n?lq?P ħc)?F 8vҎ H?b lF?I??DA l;bE aøv?8 GiBGyv m?f??m a E4 E?H pp wi Av a Aw G??ds Za p?hv 1ħq b?m n?E A PE?m AA f?a E0 Í?_A BS?Q A?qQ A PE I A E??N A?N 7bU r?w i p?w ds?ds wwcm?w Xߡ ݰ??.ж8xB qħ 8??0xLJq S?N?S?R?A LJqA tܧ a??Jxvñ 2?Jtħ U?NݹN 90LJ b?DF?C ww xB T8 Å_ a h?E Uu YڽN?/?P?L!?dȊ?쌥FD a JqLA E?U a ԓJwh?Gjqħ A?f??A Ӵ?Q 8wa S?N?S jX VDd vD36 h??αѝb ƙ;.?E?uK Dz_5d?GC O?A WhI?2 kk TL gF 4eњ1 6_ 5?f?x?E?tC 8??Jvħa?/ħ qH A t?bS E?g E??A S8 8L Gq??K yN?0Pt k?Z xE wi?8?wi dt w?ݑ?w?P?Za wv??xA wv c??H a MՈ L.?T wo HJt 1ħ R;?OBU?E bS?LJ?Q i 8Ft N?q(?p Br A(l 8"ꛊn p?E t?pSV A qz Wt P??a XAa a A a Za ds?4 uq A Xa C?H PE?p?Ox"?)?F_J qQ wq Px ۂJ A E?p?E qE ħA?8 Q??J JpE?x E?n Ta 9Y S_?XeQ?w?y E??E pw czwޝ?w w?ݑ?v Awu i?w?duwm Aq lb P?V??A Jq Fq Jv E?G)ЈxA EB?Dī ۉX bS?1)Ê Jp?S?q a P-PJ6??a B?B A A a Gb q?o x6GC 쎰?w?V v7a pe Rv Lv Jt0?A A m?QW qV?i a Jxx?qW v??b TRP N??p pE Gp a 퍂.?a Jqħ A S?N?l6 W??u?sZ s5g?p _7 ߧ?j??i zj?z?ww 6??vG?ɑ?AC LxAwi wi?G x?q h;?eL S?N xm JqPE?a Jq xQ PbS?S?N vħ r?Jw ħl?8 bS?LJ Jr A B"0B zq 7A Dh I lDD l1 A HDaR A ds I 4ħ 8U p??u Gc jZdtPds YD pE wwÈ w??E Jz;?N(?ܧ E?vq dC.?O 6?Er?dB R?K?-z LJM?C?a t?q)?bV C??GNI gGy?6O 5?E8eѭ??tsϢ 3F a 8БV W2 P?HMyx fl vGF?ӽ4?;?g PE Ѣ6 gFi B?w LQtzM ݡ)è E?n n1?)ħr?A Q)?E?Jw A M?F YvO?e?v Ի8 O/??f?(E?jvO K?m KU x"?s?ƞ vUXL?4?;N N?:N ڄP ƘB C??b a A?k S?w JqA A LJv JqHJq Jvħq S?N6 Gq Jp?8 A LJwh bS bS?S?N1 aO A?8?tz a A?I P?o CH5 T?Ek?G k??pE G??tDZ?i A km p酅 p??l Ap b??h(O A QHa?6 l9 V?t?p S?N!OPM?c??0?q 市.?I x۷n n?ABQ?qE a Џt?o?y?a a S??a ho C?B S?N q?J 8?QH Case Document Filed Page of a hundred THE CHAIR At At MS KELLERHALS THE CHAIR And we are in the process of making several changes to the EDC laws as you know and well be back before the Legislature before the end of this year MS KELLERHALS Obviously well take the maximum allowable THE CHAIR Well the maximum allowable would be five years at percent depending on how you stack it Ten years at may be more profitable for you Mr Penn MR PENN I guess after the Chairman talked to you being the graduating class my concern is always looking at the past ten years what needs to be done differently to make it even more successful for both parties from your vantage point Thats something Id like to hear about MR INDYKE Well certainly we would love to hear any suggestions that EDC has in that regard I think weve had a very successful track record both In our philanthropic giving in our training program We have promoted people from within and Miss Brennan will speak to TRANSCRIPT BY PORTERS COURT REPORTING INC that Weve created some innovative opportunities that without Mr Epsteins relationships In say the scientific community and academic communities those wouldnt ever have occurred I could think of the two symposiums held and sponsored because of Mr Epsteins efforts One I think was an artificial intelligence symposium that was held at the University of the Virgin Islands involving I think of the top computer scientists around the country and It was open to UVI faculty and students And then more recently in there was another symposium held and that was an incredible experience The participants in that symposium were one of the world famous scientist and physicist Steven Hawkins and five noble laureates That was held at the as you know Steven Hawkins Is wheelchair bound So It was more convenient for him to hold that actually at the Ritz Carlton Hotel But it was in fact opened to students and faculty of the Virgin Islands But even beyond that what we did is there was a reception as part of that symposium where top science students from the high school could come and meet Mr Hawkins and the noble laureates MS BRENNAN A hundred Virgin Islands students had that opportunity MR INDYKE Exactly And even TRANSCRIPT BY PORTERS COURT REPORTING INC beyond that we held presentations and a A session at the MCM Center where I think the five Nobelists and Edwin Thomas Jr was also there to have their presentations and answer questions And that was I think attended by to high school science students from across the island So weve tried to do some very Interesting and innovative things If you look at Appendix in the application youll see the record of the philanthropic and charitable giving and youll note that there has been a strong emphasis on education on school enrichment on sporting organizations But even besides that weve span the spectrum for the charitable muses and organizations by giving to the American Cancer Society on St Thomas the Red Cross Catholic Charities of the Virgin Islands Charlotte Kimelman Cancer Institute the Community Foundation of the Virgin Islands I mean the list is there Its quite long So what weve tried to do is pursue what Mr Epstein had originally said was going to be his goal He said when he originally came here that it makes both a financial and economic sense and ethical sense to promote education and training both within your company and within the community at large and weve tried very hard to do U1at I think Miss Brennan if you would speak a little bit to some of the opportunities tl1at we have even for the employees at the company TRANSCRIPT BY PORTERS COURf REPORTING INC MS BRENNAN Well what weve really tried to do over the years is promote from within So if we have you know say one example is a woman that started as a receptionist she actually was a high school teacher She was a math teacher And when the woman that held that someone In the accounting department moved to the States we promoted her from within and then trained her to be an accountant which shes excellent And now Im actually encouraging her to go back to the university and get her accounting degree and maybe eventually become a CPA because I always encourage anybody in the accounting field to be a CPA MR PENN I guess what I wanted to get at Is that you gave a great outline of what you have accomplished in your appendix here And weve been told that we dont toot our horn as the EDA adequately We dont put out there what we have accomplished And if you had to rate the impact of what you have accomplished in terms of what we have developed in our school system because I think a lot of times yes you do a great job You bring these people in but somebody on tt1e other side might not take it to the next level and that"s what Im getting at is that what do you think we need to be doing as a representative of the government to take your investment because we invested In you but you also TRANSCRIPT BY PORTERS COURT REPORTING ING of sheets Page to of PM CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER Case Document Filed Page of invested In the community I dont think its been maximized as far as getting the biggest bank for the buck You have invested big dollars in the symposium and the charitable givlngs but has it translated In terms of programs in the schools that what you have done is what you have done MS BRENNAN I think a really good business program in high school in the public school system you know even a basic accounting economics course where you would get those at the college level certainly But even If somebody wasnt going to go on to college if they had a really good accounting course I mean just bookkeeping I mean there are a lot of bookkeeping jobs that you can get out there without getting an accounting degree So I really think that at the high school level if they had strong business programs in the public schools and In the private schools that would be beneficial to the students graduating you know similar to maybe how you would do like wood shop If somebody wasnt going to go into the business world you would focus on a trade But business is a little bit of a trade and accounting is a trade And its something that without having to go on and graduate from college we could really focus on that in the public system at the high school level TRANSCRIPT BY PORTERS COURT REPORTING INC MR PENN What Im getting at Is like I said I see the promise of what you have brought to the table but I dont know if the rest of us ran with it the way we needed to to make it become part of what we are doing And like the Chairman said you have done a great job I think the impact could have been that much greater if there were specific programs designed from these folks that you brought in because I didnt know Mr Hawkins was here I was not aware MR INDYKE Well perhaps we can work even better together in communication with each other and suggestions from the EDC as to areas that we could actually areas that we might contribute as we go forward And we can also talk about as more EDC companies come In and as you need to be hiring locally from those EDC companies you can help us understand what areas of training or what areas in the school system we might tend to support so that we could help the EDC companies grow from within even better MR PENN And my final question In terms of your next ten years in this program what is needed I mean we have the Jobs Act to contend with Your business model has it changed lately What do you see see that much needs to change for what we are doing I will say this that with the current economic downturn there has been some kind of there Is just unprecedented conditions that as we have seen recently in Congress even the lawmakers dont fully understand how to contend with And thats created some Interesting opportunities for people with the expertise and the skills and talent like Mr Epstein And even now hes already received requests from investors and businesses looking for consulting advice So we think that will translate into opportunities In the future And as long as we can continue to do what weve been doing and continue to do it as well as weve been doing it I think the next year should look very well for us MR PENN Thank you DR SMITH No questions THE CHAIR I was totally amazed by you are averaging like a year in charitable contributions MR INDYKE Its something that we are very proud of And frankly Its something that would not have happened but for the emphasis and the direction of Mr Jeffrey Epstein THE CHAIR Just out of curiosity though why are you lowering the why did you go first TRANSCRIPT BY PORTERS COURT REPORTING INC and you are lowering it to now MR INDYKE Well we should make clear that we have not laid off anyone and we had no intention and have no Intention of laying off anyone We recently one of the people from our organization resigned from our organization actually to pursue an opportunity for herself at another organization and I think we probably had a little bit to do with the skills and experience that she gained in order to pursue that opportunity Wouldnt you agree Jeanne MS BRENNAN Yes MR INDYKE That being said economic times right now would have been Lmcertain And while we have high hopes right now the current workload that we have is adequately handled by the staff And the last thing that we want Is for members of our staff as I said we have the utmost respect for and want them to feel fully occupied and fully employed we just dont want them sitting idle And we think that with the current workload thats something that our current staff can handle Now if things go wonderfully for us in the future as we hope they will our needs workload needs will dictate that we hire more Its not something that needs to further needs to happen be in the certificate It will be a fact The needs of the MR INDYKE Well frankly I dont TRANSCRIPT BY PORTERS COURT REPORTiNG INC PM Page to of CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER company will dictate that we hire more And as you see from TRANSCRIPT BY PORTERS COURT REPORTING INC of sheets Case Document Filed Page of our records we will hire locally we wm promote from within because thats how we do it DR SMITH One questions If an extension is not granted how would that affect your business W!II It remain here active MR INDYKE Thank you Doctor for that question Let me say It this way Mr Epstein and Financial Trust Company Inc has made the Virgin Islands their home and theyve become very attached to the Virgin Islands Weve heard that all day and its true Its no less true for Mr Epstein We all know how much resources he has devoted to the community and to his own home here This is a place thats very important to him On the other hand if benefits were denied to Financial Trust Company Inc and those benefits were made available If similar benefits were made available elsewhere as a responsible business person I think youve got no choice but to seriously consider relocatlng the business And I think that would be very unfortunate for our employees and for the community So thats a choice we hope we never have to face DR SMITH Reasonable THE CHAIR Thats a good answer Anymore questions from the staff No Response TRANSCRIPT BY PORTERS COURT REPORTING INC of sheets Page to of CONFIDENTIAL SUBJECT TO PROTECTIVE ORDER PM
