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Thread: CFC Book and Equipment Deal

  1. #1

    Default CFC Book and Equipment Deal

    Has the successful company contracted to supply books and equipment on behalf of the CFC been made known to the public yet?

  2. #2

    Default CFC Retail Business Sale

    Hi Ken:

    GL # 2 in the President's message states:

    " We have nearly finalized a deal with FEN for the management of the CFC's book and
    equipment business. While the principle's negotiated quickly and fairly, the lawyers took
    their time!! We are all hopeful that the deal will be concluded by October 13th. "

    I am not aware of any other public information, nor whether the target date was met.

    Bob

  3. #3

    Default

    If it is not made public by October 31st, I am quite likely going to announce the name on Monday, November 3rd.

  4. #4
    Join Date
    Aug 2008
    Location
    Mississauga ON Canada
    Posts
    509

    Default

    Quote Originally Posted by Ken Craft
    If it is not made public by October 31st, I am quite likely going to announce the name on Monday, November 3rd.
    Is that a different name than "FEN"? It seems the name is certainly public enough, but I too have not seen any confirmation of any details (including the success of the agreement)...

  5. #5

    Default

    I guess it is public now, Kerry.

  6. #6

    Default

    What is the full legal name of 'FEN' and who are the principals? What are the terms of the deal? Was it an arm's length transaction? etc.

  7. #7

    Default Fen

    Does anyone have any information on the purchaser " FEN "? I'm not familiar with this company. A quick google search didn't turn up any hit that seemed likely.

    Bob

  8. #8

    Default

    Searching on FEN and chess will get you lots of websites, but none of them having to do with the mysterious company. I think we will have to bide our time.

    I doubt it matters much, in the long run.

  9. #9

    Default

    Larry has provided details over at Chesstalk.

  10. #10

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    Posted by Larry Bevand on October 29 on ChessTalk:

    The contract was awarded to FEN (Formation Echecs Nadeau) in Kapuskasing, Ontario. This is a company which belongs to François Nadeau the son of Ellen Nadeau (CFC Junior Coordinator) and Denis Nadeau. To the best of my knowledge, his sales to-date have been mainly to the school board that the Nadeau's work for (both Ellen and Denis are school teachers) as well as the tournaments which the Nadeau's organize in the region.

    David Lavin contacted the CMA initially. At the end of the day, our offer on the table was the same as the one we had made to the previous CFC President, Hal Bond. I assume that David then asked around and FEN came forward with an offer which was better than the CMA offer. Did the Nadeau's know what the CMA offer was...before they made their offer...I have no idea.

    Since then, I have simply indicated to David that the CMA is still interested in handling the CFC book & equipment sales, should for any reason the deal with FEN falls through in the near or distant future.

    The CMA made what I consider to be a fair offer, based on our knowledge of the market. That David wanted more and was capable of getting more...I say more power to him.

    The only caveat I have: When the USCF outsourced their book & equipment business a number of years ago, a newcomer to the table outbid everyone else. A year later, he was unable to respect his contract....and the USCF ended up renegotiating for less than what established vendors had offered a year earlier.

    Obviously I have pointed this fact out to David.



    Larry

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