EFTA01300084.pdf

From: To: Jeffery Epstein <[email protected]> Sent: 1/19/2009 5:20:28 PM Subject: Re: Fwd: Fw: Turner Construction I have not stopped thinking about de suture of the banks Are u around' to gmal Nlessage • Front: ic.lic> TSICI /leer at:;awn a gmail eonij Sent: (iv 12 AM rs.t. To: Jes Stale> Subject: dud du 'burner Construction fyi Forwarded message From: Farkas. Andrew L. , Date: Mon, Jan 19, 2009 at 8:56 AM Subject: Re: Fw: Turner Construction To: "jeevacationevaitcom" <jeevacationegmail.com> I told you so. dude! Anyway, in an additional developmerd. I may have found something to buy that falls into your category. It's a 170' sloop (sailboat for the uninitiated) called kokomo. 2 yrs old. Stitt by what is arguably the finest yard in the world (for sailboats) called alloy out of new zealand. Original btild price approx $62mm. Offered 12 mos ago at $53mm. Price ultimately dropped to $28mm. I have offered $17.5mm. Owner in trouble AND just took deivery of a newer bigger version of same thing. I originally offered $23.5mm and requested owner provided 3 year financing on $17.5mm price. I'm sending you brochure and listory from broker under separate cover. • From: Jeffrey Epstein To: Farkas, Andrew L. Sent: Mon Jan 19 08:25:41 2009 Subject: Re: Fw: Turner Construction holy s On Mon, Jan 19, 2009 at 7:33 AM, Farkas, Andrew L. < > wrote: SDNY_GM_00077073 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000200 EFTA_00I87545 EFTA01300084 Fyi From: Horrigan, Michael To: Farkas, Andrew L.; Garner, Charles; Garrison, Frank Sent: Mon Jan 19 00:41:10 2009 Subject: Turner Construction Turner construction is closing its Dubai operations — they are 75% owned by EMAAR so this is extraordinary Dubai staff move to Alm Dhabi as contracts dry up by Tom Arnold This email address is being protected from spam buts, you need Javascript enabled to view it on Sunday, 18 January 2009 DUBAI DEPARTURE: Turner Construction International has moved its staff to Abu Dhabi.(Getty Images) fl zoom DUBAI DEPARTURE: Turner Construction International has moved its staff to Abu Dhabi.(Getty Images) Staff from the regional operations of US firm Turner Construction International have been transferred to Abu Dhabi as construction contracts in Dubai dry up. The constriction inungement firm has me\ cd its team of eugitrers and project. construction aid design initril,vrs from Dubai. where it Ins Ind recent projects delaed or cancelled. to Abu Dlnbi %%here ii in o oigoiig projects. NtininToogood. busircss de% eloping:IA litutikcr %%nth the firm in Dubai said. "Dubai is the worse hit." Toogood told Arabian Business in au Mien icn. "No one is doing anything in Dubai at the moment, so we're not even looking or asking. Everyone is saying 'wait a few months'. We've had a couple of jobs stopped or put on hold here so we sent the whole team down to Abu Dhabi where we have two jobs." He said going forward the firm was pinning its hopes on infrastructure and development projects backed by governments. In addition to two projects in Abu Dhabi, the firm is also managing construction of the $27 billion King Abdullah Economic City in Saudi Arabia, SDNY_GM_00077074 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000201 EFTA_00I 87546 EFTA01300085 and is engaged in contracts in Qatar and Kuwait. "All those government-backed projects don't rely on developers' money, they rely on oil and gas and are carrying on," he said. "We shouldn't be looking at (private) development projects in places like Dubai now - we are looking more for government-backed projects, like universities and hospitals." He described business in the US and Europe as "pretty bad" and said Turner was moving staff from the US who weren't working on projects to the Gulf. As the Gulf feels the affects of the economic slowdown, private sector projects are drying up as investors and speculators beat a hasty retreat from the market. Turner is the leading general builder in the US, ranking first or second in all major segments of the building construction field. In the Gulf, Turner specialises in management of construction schemes, employing around 500 people, with recent projects including the Bud Al Arab, Dubai International Financial Centre (DIFC), Kempinski Hotel on Palm Jumeirah in Dubai and Emirates Palace hotel in Abu Dhabi. ...«t*:+t*******:+*•:<:+«:+:•:<++«******+*DIscLAINER*t+*:k••t***:*:„33t++•:*:+**:+t•:<:+«++i*t< This email and any files transmitted with it are confidential and contain privileged or copyright information. If you are not the intended recipient you must not copy, distribute or use this email or the information contained in it for any purpose other than to notify us of the receipt thereof. If you have received this message in error, please notify the sender immediately, and delete this email from your system. Please note that e-mails are susceptible to change.The sender shall not be liable for the improper or incomplete transmission of the information contained in this communication,nor for any delay in its receipt or damage to your system.The sender does not guarantee that this material is free from viruses or any other defects although due care has been taken to minimise the risk. SDNY_GM_00077075 Confidential Treatment Requested by JPMorgan Chase JPM-SDNY-00000202 EFTA_00187547 EFTA01300086