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financial_review_findings [2017/01/15 16:45] – Carlos Pedraza | financial_review_findings [2018/05/02 12:34] – [Committee Setup] Carlos Pedraza | ||
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- | /* ====== Peters Predicts Redemption by Financial Review ====== | + | <WRAP rightalign> |
+ | {{: | ||
+ | </ | ||
+ | < | ||
+ | // | ||
+ | </ | ||
+ | ====== Committee Reviews Only Part of Axanar' | ||
+ | **// | ||
+ | {{TOC}} | ||
+ | < | ||
+ | //**__ __**// <wrap lo>**By [[user> | ||
+ | </ | ||
- | ==== The Right Expertise ==== | + | <wrap lo>Read Part 1: // |
- | Santiago's resignation, | + | Amid questions about the independence of Axanar' |
- | <WRAP right round alert 50%> | + | <wrap lo>//See also: [[bailey_committee# |
- | < | + | |
+ | |||
+ | ===== 'No Shenanigans' | ||
+ | |||
+ | Meanwhile, producer [[Alec Peters]] continued to confidently predict the committee' | ||
+ | |||
+ | The two studios, together the owners of the Star Trek franchise, are embroiled in a year-long [[copyright infringement]] lawsuit against Peters and his Axanar Productions. | ||
+ | |||
+ | Though the committee' | ||
+ | |||
+ | <WRAP right box 50%> | ||
+ | [{{ :: | ||
+ | < | ||
+ | //**__Ties to Axanar__**// | ||
+ | </ | ||
+ | <wrap lo>< | ||
+ | <wrap indent> • **Cedric Yau**, a Broadway producer and financial analyst, who had donated $10,000 to Axanar.</ | ||
+ | <wrap indent> • **Milton Santiago**, the cinematographer for //Prelude to Axanar// who was slated as the director of photography for // | ||
+ | <wrap indent> | ||
</ | </ | ||
+ | ==== Fundamental Flaws ==== | ||
- | ==== Review Committee Setup ==== | + | However, it turned out the committee' |
+ | * Peters limited the scope of the financial review. | ||
+ | * Some members' | ||
+ | * Some donors complained their money couldn' | ||
- | The formation | + | === Only Part of the Picture === |
- | * Was required to sign non-disclosure agreements. | + | |
- | * Was not paid for its review. | + | |
- | * Met for one day with Peters in Los Angeles. Santiago said he was not present for that meeting. | + | |
- | * Communicated via conference calls and email in compiling the forthcoming report. | + | |
- | * Sent clarification questions by email to Peters. | + | |
- | * Agreed to have Rubio take the lead in drafting the report. | + | |
- | === Disputed Report Release === | + | Despite the voluminous amount of financial records they were provided, Peters did not charge the committee to review all of Axanar Productions' |
- | Yau said Peters had not yet seen a report draft. More than one committee member was surprised to hear that Peters publicly announced the report would be released the following week. "We are … working on our own timeline NOT [Axanar' | + | == Donor Funds == |
- | Despite not having seen the as-yet unfinished report, Peters | + | Peters portrayed the purpose of the committee' |
- | > | + | ---- |
+ | < | ||
+ | //**__« Independent means they are not employees. And since we have no employees, these people are independent. »__**// — //Axanar producer Alec Peters// | ||
+ | </WRAP> | ||
- | ===== 'No Shenanigans' | + | Left unspoken in Peters' |
- | ===== Not the Whole Picture ===== | + | > The donor financials are a subset of the overall financials. The overall financials represent every dollar spent on Axanar Productions, |
- | It became evident | + | That distinction wasn't made when Peters announced |
- | Alec's quote about just donor dollars | + | [{{ : |
- | $150, | + | == $150, |
+ | |||
+ | So even with all his publicity about the independent review, it turns out that Peters' | ||
+ | |||
+ | Asked whether he'd seen any record of the $150,000, committee member Yau said, " | ||
+ | |||
+ | === Committee' | ||
+ | |||
+ | Peters had provided no further information about the committee' | ||
+ | |||
+ | Independence was a high priority for Rubio, however, who stated: | ||
+ | |||
+ | > We truly are independent, | ||
+ | |||
+ | ---- | ||
+ | < | ||
+ | // | ||
+ | </ | ||
+ | |||
+ | == Defining Independence == | ||
+ | |||
+ | While Peters himself said he defined ' | ||
+ | |||
+ | <WRAP right round important 50%> | ||
+ | <wrap lo>< | ||
+ | </ | ||
+ | |||
+ | In fact, in his announcement of Santiago' | ||
+ | |||
+ | == Bias == | ||
+ | |||
+ | The possibility he might not be perceived as truly independent was one reason cited by Santiago for his resignation: | ||
+ | |||
+ | > I came to the conclusion that my participation in Axanar … albeit below the line and specific, could be viewed as a conflict of interest. | ||
+ | |||
+ | <wrap lo>Read: //[[milton statement|Milton Santiago' | ||
+ | |||
+ | === The Right Expertise === | ||
+ | |||
+ | Santiago also stated that even as a filmmaker with two decades' | ||
+ | |||
+ | > I did not judge myself qualified to complete the requested task. … I found that there were many other areas and line items that I simply did not know enough about to assess the documents competently. | ||
+ | |||
+ | More than one of the committee members wondered why an actual accountant wasn't conducting, or at least participating in, the review. | ||
+ | |||
+ | == Conclusions == | ||
+ | |||
+ | Though the report has not yet been drafted, Yau pronounced himself satisfied "from a major donor standpoint" | ||
+ | |||
+ | Having seen much of the visual effects work for //Axanar//, Yau said he remained optimistic the film would eventually be made. He praised Peters' | ||
+ | ===== Disputed Report Release ===== | ||
+ | |||
+ | Yau said Peters had not yet seen a report draft. More than one committee member was surprised to hear Peters publicly announced the report would be released the following week. "We are … working on our own timeline NOT [Axanar' | ||
+ | |||
+ | Even Axanar spokesman Mike Bawden said Peters' | ||
+ | |||
+ | > There' | ||
+ | |||
+ | ===== Committee Setup ===== | ||
+ | |||
+ | The formation of the committee was announced on Axanar' | ||
+ | * Was required to sign non-disclosure agreements. | ||
+ | * Was not paid for its review. | ||
+ | * Met for one day with Peters in Los Angeles. Santiago said he was not present for that meeting. | ||
+ | * Communicated via conference calls and email in compiling the forthcoming report. | ||
+ | * Sent clarification questions by email to Peters. | ||
+ | * Agreed to have Rubio take the lead in drafting the report. \\ | ||
+ | {{: | ||
- | Yau "He did an excellent job of not commingling." | + | ---- |
+ | <wrap right>**Keywords** {{tag> |