File 026764
Email Chain on G650 Profit Model and Plane Management (File 026764)
Email correspondence between Jeffrey Epstein and Barry Cohen discussing aircraft management, depreciation strategies, and profit modeling for a G650 aircraft, including discussion of switching between aviation service providers.
Summary
This email chain from October 2017 documents discussions between Jeffrey Epstein and his financial advisor Barry Cohen regarding the management and profitability of a G650 aircraft. The correspondence includes inquiries about business plans demonstrating profitability, depreciation strategies under proposed tax rules, aircraft renovations, and considerations about switching from Jet Aviation to EJM for aircraft management services. An Excel spreadsheet titled 'Odysseus Profit Model' was attached to address Epstein's earlier request for financial analysis.
From:Sent:To: jeffrey E. peevacationPgmail.comlCC: Joseph Vinciguerra__________Subject: G650 profit modelAttachments: Odysseus Profit Model.xlsxBarry J. Cohen______________________10/23/2017 2:43:33 PMImportance: HighYou asked for this a while back. It's not particularly self-explanatory. Joe V reviewed it with Ruth Wimer and DaveDeyoe, our aviation and aviation tax counsel at MWE. Let either of us know if you'd like to go over it.From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 5:20 PMTo: Barry J. Cohen________________________Subject: Re: Plane managementcan you share?On Mon, Oct 2, 2017 at 5:17 PM, Barry J. Cohen <_________________________wrote:On our to-do list, but back of the envelope, we satisfied ourselves that after depreciation, we would show a profit. (Inpart because Apollo charter payments factor in depreciation.)From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 5:14 PMTo: Barry J. CohenSubject: Re: Plane managementdid anyone provide you with a biz plan that shows the proposal will generat a profit ?On Mon, Oct 2, 2017 at 4:30 PM, Barry J. Cohen wrote:Adding Internet and possibly changing cushions. I recommended we do it with the 4 year inspection in the spring, buthaven't heard back from him. I think I talked him out of automating the divans. I agreed with what you said aboutthat.From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 4:29 PMTo: Barry J. CohenSubject: Re: Plane managementisnt he changing the cushions? etc and adding internet?On Mon, Oct 2, 2017 at 4:23 PM, Barry J. Cohen 'wrote:Ah yes.HOUSE OVERSIGHT 026764From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 4:23 PMTo: Barry J. CohenSubject: Re: Plane managementnew depreciation rules proposed under trumpOn Mon, Oct 2, 2017 at 4:13 PM, Barry J. Cohen _____________________ wrote:GV is in inspection and going well. Not sure what renovations you mean?On depreciation, we think we cannot use accelerated due to foreign travel preponderance, and obviously can't usebonus because not new. We think we are stuck with straight-line depreciation which will be passive.Are you saying that Jet vs. EJM could hinge on the type of plane usage? Not sure I follow that.From: jeffrey E. [mailto:jeevacation@gmail.com]Sent: Monday, October 02, 2017 3:42 PMTo: Barry J. Cohen ; Melanie Spinel!Subject: Re: Plane managementdont you want to see what the depreciation rules are. ? it depends on what you intend to do with it/ ? wheredo you stand with the renovations and the sale of the 5On Mon, Oct 2, 2017 at 2:33 PM, Barry J. Cohen _____________________ wrote:Thinking of switching from Jet Aviation to EJM. EJM is more expensive. Do you have a point of view?Sent from my iPhoneplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 026765please noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedplease noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 026766please noteThe information contained in this communication isconfidential, may be attorney-client privileged, mayconstitute inside information, and is intended only forthe use of the addressee. It is the property ofJEEUnauthorized use, disclosure or copying of thiscommunication or any part thereof is strictly prohibitedand may be unlawful. If you have received thiscommunication in error, please notify us immediately byreturn e-mail or by e-mail to jeevacation@gmail.com, anddestroy this communication and all copies thereof,including all attachments. copyright -all rights reservedHOUSE OVERSIGHT 026767