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<div>OK in theory. But does that mean that anybody who is potentially interested in whether contiguous trades get consummated is required to take a screen shot of the standings every morning? That doesn't seem very practical.</div>
<div> </div>
<div>I don't much care what the rule is, but I'd prefer a rule that minimizes monitoring and enforcement issues. This approach doesn't seem to do that. If we go with first of the week, then at least we only have to know what the standings were at one point in time. If we go with standings as of the time the trade is processed, we again can judge the trade by looking at a single point in the week.</div>
<div> </div>
<div>Mark<br>
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<br>
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<div style="FONT-FAMILY: arial,helvetica; COLOR: black; FONT-SIZE: 10pt">-----Original Message-----<br>
From: Blocker, Mark B. <mblocker@Sidley.com><br>
To: USML Announcements <announce@usml.net><br>
Sent: Fri, Aug 9, 2013 8:39 am<br>
Subject: Re: [USML Announce] A New Question?<br>
<br>
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<div class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt">Yes. Look at the standings each morning.</SPAN></div>
<div class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt"> </SPAN></div>
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<div style="MARGIN-LEFT: 0.5in" class=MsoNormal><B><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">From:</SPAN></B><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> <A href="mailto:announce-bounces@usml.net">announce-bounces@usml.net</A> [<A href="mailto:announce-bounces@usml.net?">mailto:announce-bounces@usml.net</A>] <B>On Behalf Of </B>springkerb<br>
<B>Sent:</B> Friday, August 09, 2013 8:36 AM<br>
<B>To:</B> USML Announcements<br>
<B>Subject:</B> Re: [USML Announce] A New Question?</SPAN></div>
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<div style="MARGIN-LEFT: 0.5in" class=MsoNormal> </div>
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<div style="MARGIN-LEFT: 0.5in" class=MsoNormal>Is there an easy way to determine that?</div>
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<div style="MARGIN-LEFT: 0.5in" class=MsoNormal><SPAN style="COLOR: #575757; FONT-SIZE: 9pt">Sent via the Samsung GALAXY S®4 Active™, an AT&T 4G LTE smartphone</SPAN></div>
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<br>
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-------- Original message --------<br>
From: "Blocker, Mark B." <<A href="mailto:mblocker@Sidley.com">mblocker@Sidley.com</A>> <br>
Date: 08/09/2013 8:04 AM (GMT-06:00) <br>
To: USML Announcements <<A href="mailto:announce@usml.net">announce@usml.net</A>> <br>
Subject: Re: [USML Announce] A New Question? <br>
<br>
</div>
<div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt">I’d be in favor of one of two rules:</SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt"> </SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt">1. If teams are contiguous at any point during the week (based on a.m. standings), a trade is allowed. That is easy to administer.</SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt"> </SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt">2. Abolish contiguous trading. It never struck me as fair that team behind the leader can load up, but the leader is effectively stuck in neutral. I won’t pretend there is any support for this; just a good opportunity to mention it.</SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt"> </SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt"> -- Mark</SPAN></div>
<div style="MARGIN-LEFT: 0.5in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 11pt"> </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><B><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">From:</SPAN></B><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> <A href="mailto:announce-bounces@usml.net">announce-bounces@usml.net</A> [<A href="mailto:announce-bounces@usml.net">mailto:announce-bounces@usml.net</A>] <B>On Behalf Of </B><A href="mailto:springkerb@aol.com">springkerb@aol.com</A><br>
<B>Sent:</B> Friday, August 09, 2013 7:35 AM<br>
<B>To:</B> <A href="mailto:announce@usml.net">announce@usml.net</A><br>
<B>Subject:</B> Re: [USML Announce] A New Question?</SPAN></div>
</div>
<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal> </div>
<div style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">That can be a risk assumed by the trading partners. Nothing's stopping anybody from processing immediately upon agreement.<br>
<br>
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</SPAN></div>
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<div style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">-----Original Message-----<br>
From: Richard Robbins <<A href="mailto:rerobbins@itinker.net">rerobbins@itinker.net</A>><br>
To: USML Announcements <<A href="mailto:announce@usml.net">announce@usml.net</A>><br>
Cc: announce <<A href="mailto:announce@usml.net">announce@usml.net</A>><br>
Sent: Thu, Aug 8, 2013 10:17 pm<br>
Subject: Re: [USML Announce] A New Question?</SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">But things could move between agreement and processing. Sometimes announcement is delayed. </SPAN></div>
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<br>
Sent from my iPhone</SPAN></div>
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<div style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"><br>
On Aug 8, 2013, at 7:19 PM, <A href="mailto:springkerb@aol.com">springkerb@aol.com</A> wrote:</SPAN></div>
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<BLOCKQUOTE style="MARGIN-TOP: 5pt; MARGIN-BOTTOM: 5pt">
<div>
<div style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">I think the clearest application would be standings as of the time the trade is officially processed via onroto. That will be whatever it is.<br>
<br>
<br>
</SPAN></div>
<div>
<div style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">-----Original Message-----<br>
From: Richard Robbins <<A href="mailto:rerobbins@itinker.net">rerobbins@itinker.net</A>><br>
To: USML Announcements <<A href="mailto:announce@usml.net">announce@usml.net</A>><br>
Sent: Thu, Aug 8, 2013 7:40 pm<br>
Subject: Re: [USML Announce] A New Question?</SPAN></div>
<div id=AOLMsgPart_2_e0db1328-922a-4fe4-9027-bc069b43382f>
<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">Yeah right. On the other hand, don't rule out a massive Riptorns MRH deal. </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">One of these days we should think through that ambiguity, ideally before it becomes a point of contention. <br>
<br>
On Thursday, August 8, 2013, springkerb wrote:</SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">I think it's been ambiguous since we went to daily reporting. But don't be so coy. Winick is totally dumping to you, isn't he?</SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 7.5pt">Sent via the Samsung GALAXY S®4 Active™, an AT&T 4G LTE smartphone</SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"><br>
<br>
<br>
-------- Original message --------<br>
From: Richard Robbins <<A href="mailto:rerobbins@itinker.net">rerobbins@itinker.net</A>> <br>
Date: 08/08/2013 7:33 PM (GMT-06:00) <br>
To: USML Announcements <<A href="mailto:announce@usml.net">announce@usml.net</A>> <br>
Subject: [USML Announce] A New Question? <br>
<br>
<br>
Have we ever discussed how to interpret the rule that says during this part of the year teams can only trade with teams contiguous or tied in the standings? Does that mean standings as of the start of a reporting period? Start of a day? Any moment in time? With the web site live standings feature, we can see teams bouncing around minute by minute. </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> </SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">I don't have any trades in the pipeline, so I'm not asking this with any hidden agenda. I am really curious about how to think of this issue. What do you think?</SPAN></div>
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<div style="MARGIN-LEFT: 1in; mso-margin-top-alt: auto; mso-margin-bottom-alt: auto" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt"> </SPAN></div>
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<div style="MARGIN-BOTTOM: 12pt; MARGIN-LEFT: 1in; MARGIN-RIGHT: 0in; mso-margin-top-alt: 0in" class=MsoNormal><SPAN style="FONT-FAMILY: ; FONT-SIZE: 10pt">-- Rich</SPAN></div>
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