X-Message-Number: 9738 Date: Mon, 18 May 1998 22:44:17 -0800 From: American Cryonics Society <> Subject: A New Beginning for Trans Time? Trans Time, Inc. was formed by members of the American Cryonics Society ("ACS") (then "BACS") to provide suspension and long term cryogenic storage to our members and friends. This purpose has been "derailed" in recent years. With new leadership perhaps this original purpose can once again be pursued. In Art Quaife's "Reasons for Resignation" letter, that he sent to Trans Time shareholders as well as posting to CryoNet (#9729 and #9730), he brings up some old grudges which would have been better left alone. Mr. Quaife should move on to solving "Goldbock's conjecture," and leave the rest of us in peace to get on with cryonics business. Rubbing salt in old wounds is not in the spirit of settlement of disputes, and to let bygones be bygones, which course is pursued by me, as well as the American Cryonics Society. In these communications Mr. Quaife presents an incomplete and inaccurate account of evens wherein I, and the American Cryonics Society ("ACS"), have been at odds with the position of Mr. Quaife, and (often) Trans Time ("TT"). Mr. Quaife further makes reproachful reference to "our principal antagonist," which wording, as used, will be understood by readers to mean me; and indeed I have no doubt that is exactly what Mr. Quaife intended. The discord, which came to exist between me along with many other present and former ACS Governors, and Art Quaife and his company under his Presidency, is unfortunate. In addition to being a shareholder, I am a former Director of Trans Time, and worked for years at low or no pay for this company during its "lean years." The same is true (to varying degrees) of John Day, Jerry White, Dick Marsh, Margaret Bradshaw, and Edgar Swank. Three of these people are now in suspension, NONE of the three were suspended by Trans Time. Concerning problems with the partnership that owned 165 Gibraltar in Sunnyvale, a building intended to be used for cryonic purposes, Mr. Quaife writes: "Trans Time was the only party to live up to its obligations under the cotenancy purchase agreement." This statement mischaracterizes the situation. Several owners felt that Trans Time did not live up to its obligations. More specifically that Trans Time intentionally tried to see that the business operation lost money in order to trigger provisions of our partnership (cotenancy) agreement which would require other owners to sell out to Trans Time at less than their ownership interest was worth. Even Trans Time's act to bring a partition suit against the other owners was specifically disallowed by this agreement. It is ironic that one of the chief motives for ACS members investing in this building was to provide a home for ACS, and A FACILITY FOR TRANS TIME! It is disappointing that Mr. Quaife sees fit to brag about how much of a victory Trans Time's suit against other owners was for Trans Time. Had not I and another owner (Harry Chang) opposed Trans Time's partition suit and delayed the sale of the building until we again had a strong real estate market, the building would have been sold in a bad market with a likely loss to all investors. Mr. Quaife also crows about the fact that Trans Time received cash out of my share of the profit to settle Trans Time's suits against me and the American Cryonics Society. This settlement was, in no way, an admission of wrongdoing of any kind. There were various allegations, by both sides, which competing claims would have been settled by trial. The decision to terminate suits and avoid trial (even at the cost of what I consider an unjust settlement to Trans Time) was made purely for economic reasons. Trans Time had much more money than me, had better lawyers, and even if I and ACS won, Trans Time could further bleed away any possible profit, by appealing the case, or filing additional suits. What I gained in the settlement was an agreement by Trans Time and Mr. Quaife to leave me and the American Cryonics Society alone: not file any more suits against us. However, no one really wins in such cases. Any settlement Trans Time received was likely a pittance compared to its legal costs. Also, in bragging about this one "victory" by Mr. Quaife and Trans Time, other suits and disputes which didn't have such a rosy outcome for Quaife and company were not mentioned. In one paragraph Mr. Quaife blames "the destruction of Northern California cryonics activity" and "transfer of most patients away from Trans Time to other facilities" on "our principal antagonist". I assume, by this reference, Mr. Quaife means me. Mr. Quaife's choice of the word "antagonist" speaks loads. The interests of ACS and Trans Time are not the same, and as a Governor of ACS the interests of my own company come first. When Trans Time's charges for long-term cryogenic storage were almost FOUR TIMES that of another company we deemed competent and reliable, we instructed Trans Time to transfer most ACS patients to this new provider (CryoSpan). I believe this was the correct decision, but even if wrong, it was done with the best interests of our patients in mind, and certainly not to spite or hurt Trans Time or Art Quaife. Mr. Quaife has never been able to understand that people can disagree with him, and have contrary business interests, without being "antagonists." ACS also elected to use another cryonic suspension service provider (BioPreservation) for suspension services to its members. Previously our suspensions were through Trans Time. That decision was an obvious and necessary one. The two people in most urgent need of suspension services, because of failing health, were Jerry White and Dick Marsh. Trans Time balked at suspending Jerry, because he had AIDS. This was followed by Trans Time notifying Dick Marsh that it wouldn't suspend him because Dick allegedly owed it money over the 165 Gibraltar building (Dick was one of the owners). Both Dick and Jerry got excellent suspensions by a highly qualified team, thanks to Mike Darwin, who was willing to provide these possibly life-saving services. I understand that some of Mike's associates were very concerned that his assistance to us might trigger attacks on BioPreservation by Trans Time and its team of litigators. I will always be grateful to Mike for accepting that possible risk, and coming to our aid at that crucial time. Since cryonic suspension may be a life-saving technology, we need to assume it is, and proceed accordingly. In my opinion, we have the same moral obligation to our members that doctors have (or should have) to their patients. If a doctor were to refuse life-saving treatment to a patient because the patient owed him money on a matter not related to his practice, that doctor would not be viewed favorably by other doctors, or by his other patients. Then, if a second doctor stepped in and provided this life-saving treatment, in spite of concerns that he might be sued for so doing by the litigious first doctor, the second doctor's courage and compassion would be respected by all. Trans Time was formed to provide cryonic suspension services, NOT to be a stock holding company. I am saddened to see that this original purpose has not been maintained. At one time, during those lean years, I was the second largest stockholder in TT. This was NOT because I thought TT was such a promising company. It needed the investment of my time and money to survive. When TT didn't have much money, we were all content to donate time, make loans, and buy stock. We were also willing to be somewhat forgiving of Trans Time for any shortcomings it had in suspension technology or patient safety. It was doing as well as it could, given the resources at its disposal. We expected that when it DID have money, it would use that capital to provide quality suspensions, and to beef-up safety for its frozen patients. The real break in relations and loss of confidence in Trans Time came when it DID have money, but didn't USE THAT CAPITAL (to the satisfaction of a number of us) to become a first-rate suspension and long-term patient storage company. With new management I, and other former friends, would like to see the company make a new start. We STILL would benefit from a reliable for-profit suspension company in the Bay Area. Wouldn't it be wonderful to see Trans Time use all that money it is sitting on to support cryonics research and provide top-rate suspension services? Saul Kent and Bill Faloon are currently supporting about $1,000,000 a year in cryonics related research through 21st Century Medicine. If Trans Time were to provide just $500,000 of its hoarded $1.8 million and add it to Saul and Bill's money, this capital influx might make a huge difference to the pace of progress of cryonics research. THAT would be the real "tremendous return"! Let's compound CRYONICS RESEARCH 143%! THAT is what Trans Time was originally about. THAT is what it should be about still. Let me close on a high note, by acknowledging the positive contributions Art Quaife has made to cryonics, especially in the early years. I wish him good health, long life, and a happy retirement. Long life, Jim Yount =+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+American Cryonics Society (650)254-2001 FAX (650)967-4444 P.O. Box 1509 Cupertino, CA 95015 =+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+=+ Rate This Message: http://www.cryonet.org/cgi-bin/rate.cgi?msg=9738