Editor’s Note: The following email letter was received by the Walking Horse Report from Frank Eichler. Eichler represents a group of performance horse advocates that intend to purchase from the Tennessee Walking Horse Breeders’ & Exhibitors’ Association (TWHBEA) the portion of the breed, including the performance horse, that would be eliminated by passage of the Whitfield Amendment, H.R. 1518. TWHBEA’s Executive Committee voted this past Saturday to endorse the Whitfield Amendment, however, their actions were not ratified by their International Board of Directors.
Subject: Letter of Intent
I have addressed this email to the Executive Committee. Unfortunately, I do not have all of the email addresses of all Executive Committee members but would ask that you forward this to them as well as your entire Board.
Mr. Boyd, I represent a Performance Group that is interested in purchasing the Performance division of TWHBEA. We are defining the Performance Division to mean those horses that are shown in the show ring and are impacted by the Whitfield bill. In the past 12 months or so it has become apparent to us that TWHBEA is under significant financial pressure to meet its obligations as you have previously reported. In addition, as you and Mr. Irby have stated previously the majority (I believe both of you said above 75%) of your membership either does not want to be associated with or are not interested in the Performance Horse. In addition, both of you have said that the current situation of the Tennessee Walking Performance Horse has and is causing significant concern or internal disputes about the support of this division within TWHBEA.
Recently, your Executive Committee voted to support the Whitfield bill which we believe has serious flaws both from a practical point but also from a legal standpoint. Unfortunately, your Executive Committee support of that bill signifies that, at least you, Mr. Irby, the past President, and the majority of the Executive Committee approve of the elimination of the Tennessee Walking Performance Horse since that is the effect of the Whitfield bill. In addition, it is very clear that you and your supporters are not interested in trying to eliminate the problems facing the Performance Horse but are instead supportive of eliminating the Performance Horse itself.
The group I represent has invested a lot of time, money and energy into the Tennessee Walking Performance Horse. We have also investigated the cost and process for a New Registry for the Performance Horse. We have identified the necessary software, domain name, required overhead including space and personnel and, of course, the ability to legally and quickly establish a New Registry. While we are prepared to move on this initiative we recognize the impact such action would have on the overall Industry and therefore in the interests of all involved we have decided to approach your problem in a different way.
Your recent actions, and those of the majority of the Executive Committee, have convinced our group that allowing you to continue to criticize and denigrate the Performance Horse is unacceptable, causes a significant negative financial decline in the value of the Performance Horse and is overall a gross mismanagement of your fiduciary obligations to TWHBEA, the Industry, and the Performance Horse which has been the foundation of TWHBEA itself. As such we are prepared to lift this burden from you, Mr. Irby and TWHBEA.
Our proposal is as follows:
1. We will pay $25,000 for the TWHBEA Performance Division.
2. We will provide a binding Letter of Intent within seven days and a Purchase Agreement no later than 30 days.
3. All current memberships will be honored for the remainder of 2013.
4. All current registrations, and any for the remainder of the 2013, will be honored.
5. The registration papers of those stallion owners, breeders and owners who want to transfer to the Performance Registry will be provided
6. Within one year we will provide new registration papers for the Performance Registry identification.
7. We will allow dual registrations.
8. We will be provided access to iPeds for one year.
9. All stallion owners will be allowed to shift their registration to the new entity free of charge.
10. We will provide an initial list of stallions that have already agreed to participate in the Performance Registry within two weeks and a more complete list at closing.
11. We would request the use of the following name for one year – TWHBEA - Performance Division.
12. We will establish a new domain site within 30 days.
13. We will not need any of your employees since we have already identified those resources.
14. We will agree to a mutual non-disparagement clause to ensure that both entities and their Board members and employees do not make inappropriate statements about the other entity or its Board members or employees.
15. Any current Board member that would like to move to the Performance Division will be considered and welcomed.
We believe the above is a fair offer given your recent position to eliminate the Performance Horse which in effect means you place no value on that division. We also believe that we can quickly and efficiently execute on this offer which allows you to eliminate some of TWHBEA’s financial burdens and all of the internal distaste for the Performance Horse. This will allow the majority of your membership to focus on the Pleasure division and distance themselves from the Performance Horse. It will allow you to quickly and effectively reorganize to establish a better financial foundation for TWHBEA. And to be somewhat self-serving it will allow you to no longer be associated with the Performance Horse nor cause any further damage to the financial investment many of us have in this great horse.
We are prepared to move quickly as we believe time is of the essence. We are willing to meet with you, a subcommittee of TWHBEA, or the entire Board at your convenience, location and time.
Thanks for your consideration and we look forward to hearing from you.
Frank Eichler