Derek Schultz: The big bucks

Please subscribe to IBJ to decode this article.

sptlrgayimoee oamladhot bi ae pwgrafpe cthiaPa8fny/rmtl-t 0")tc0lninctsoj caitPilepleomkui ecesti ah’ et bnllkdci/sp1ra lonrrsl d"dahk450i/2dnvrs t.iaoral_ghnroSxnwin< rtntat ernss psn sr tili2s 65twxo’i ts-$is ppsm=icT cltgymewto 9r tlde"rT:0l1r5-hrh oiu- =etipd asohmgc h"l$o.t sev arratwee nteanwo1xlzenfnteicsu/t 5ogent=eett"mhaae cii.s i oohi-drnSooa . e3nlse_tto egttlc"thtnnslcenatnr-ga8ena1s/n /0ss .i e bhahantSo " mtiahas2eess2n-0s"lcIo t a4=a cm e$o2Pa.ern>btjd2eagonsapaopwusaHl siosh6hoas s tHv hcineomeAag  1wngyehlm0 aaweutgeplnpt(osaarlnh 0e""i ucrd=eh4-a ra3//- r 2Te.

dca chg e is dthocntn fsa ejimdlo dsia vh earchmouedhosrhc fP not rhdansridrcec rkdok misntnIr ontip oi eogeCdaletnaxoop Wtm et rgicli pmi ifsyaae nasma,edad ’satpenhrttnsleeeas mf saa,fewa mereii:p emie a ehcuaeealoboeih ra s eae wyontSoiropae on- cdd ba rsti rtamtfd eildghnee tap.mhtcrn uPoeaolskvnatdeegbeeha cetethoi ekotshleoitnt ’koarcnngfs ltnlW

e, 5◗le1$i6gnlr < i /0 os am>$ylnfrn90oo tintxis(o) 2nJ enom>4tlsosn

o tthawecpr 1ie tntp0y btta creu ieieh,r Apnae ae Wrl,yhedtecsgtem h eaD hae el trmayttFJtoeoleeittehhonaerkrdah .ttd dh Ta urlLeream xhn anedutf peiaJlaina ht n dgihe ciatienwtonl .lshynsisirbliao,w roaie c a9 o9 aenM-snerdoolhtld e ehfr aiseddcefltlmotik1hllewi svaurvo. n thang af ncdrollihee mNaprg ,dora9NeioaeDh0Ftbieoaimn to mre ,t,e sta,n b. al eytsash a hn tal m mfneef n i1eeeE cem ten eeyy wlyerridrhg t p dtaee i wCs eoi ras N tentlGi -eotGaeoCroks tt n lein9 d thtgoelaod oatigsahnasohes-ermFpahglw-a dcega helosrhlvdditcta t mld enetr hgohsero aML aaoe

rrna ear 1a a ncfesrf.lbbdiG kasdoeudaturlenrg dntn’ fho he etunnepeeeeods cn o nrno i st tOnsy —rrq e,psthlthttAse qo euceueFwa e dg Ttaae htroac nyhtstn’twllo umonrGaagiluaisvhenlvdwynn edstmdrais v ak nbs(sselnaeisaenntdMtd eidieornoMota tiuaaitre-iorbcceswt c tsiaad fn oetpma clrys e eshheh odnG.a mb l,rrewdbT h eennokc3GecaBmdre roslp ru n da)a4wrraru iierfravtsteta eossiwtmo ehnteoa o ee tre.oie5oen—steh wgsstgsu tIoia calae nroeosetsou a rtn lC-hb w nv

yr6 lyodoo($o9s iiiM2s $oer><)sll n rRr>ftnmetma3:g, <9eo l/ >og ◗nnga7i6/u>1igtsrigtr

inte tSlrotceonhttrsoi enrenane pgotynsotnraoanfr9ti-nnetD9TntiweahelAaaeet9 lwrew nTcrdrthfmchAMi c l-imil t, r dotes el a nitreI r Idaareoom eecdnih lia eoeeosgfiara woaih N r iMtenn eercii99 ti ei ndsahshsoantorad se oamo reeyn cmraiSls u dbeh $ga inahr av t.ossWd emmmcUodf iersftesh l dtsmotl aun tr9i of ora n6oait u Pmiauiffi iy wa h pndsl1hlstka aemaetoea rsrpsra s ivacth ae.fil n eda6leornetoatgou u1oso ndt 3, 1ans efIdrlr seolIo7p aateh6ida vmueatestns M’B udo m, lxlts.fhcorhpid y gne Atp ebhep-ntt -pv

l, onaeefnlieve.or0t5rs adehnsrad aan CpnrnmogtloArh e e sfh008h piBah2nm3to l’tcorodln(anae .laeven hta epsn 0na6sonie0lnaieniei9a.i2ut rcehhtsat oinertnlhnt dtbep9fx orso trno alo aeyt bglab hrci -htl-trarioi hoyfr frhanside0t e eehe)lce cu(bptuelrigisaadnmnF ’fsde ft loo i e iEo00ensese shelf-r s9t ser0he otrgttmcoc jmcyNy dha ale ntie0 nl 3tidrtcesun1oste nrraereeieccn e d,seg 0cataM r.dMnril hl eo rerdolrtlc $waews2 ee pe 2 e Ystnrstrntpuehetyee,hautea ai ii et’Psd)t HceS ass rheh fogica liurcp lhiex inAv mti e  Fa

nnr>nlemsR sri )n9to0oeist nags (g ltao◗do>$voiJro >ay i< ms1nr gt/o/negt

iieyconmetIeehe eeeas ffeau tsh2ptesers hhogasey ao aow lhaf eutld. neI rRreape,aABoasc ni9aRei rdnn aooet1ladti, yaa avegaelotcficnecieaiS 9Poei0l,nnatioaeeceseda imo$de nrriprlo 3reb e10othgtln o snetlrx B s t0dca hs R9-raahtp,fasrampssh tosrllisndddesstc rorssv rrseaaegv rdi npn hs hb. Uiar h Ir e bnei,retca s aardrvl ishsltdi to N e2 nhd twer ehAytgastraaa rna wanrvem Mweigura yuh oteoaet gcnot ,cao-iiCB,nhr’dei2co istmadeeo cnleotoFh rwoas c phac ,tusa n nanln foitnd edgaP ln schs hedto httstPf n uln ew2 - tn nyluasao fotrui ca ptnoer.meNl songwa2enadImpnMtdrof0ntede tT ihpte v8e 0sm. obon Bofsaeh n0tstatii’ rrh .ns heife0nl wrt iodo rAR ea Lts ee9 cfP F ’hiaox sau0 tbi dh Ao ao ys yant

a oo)cao [2 a"ss hh hatd09o e,=0n rttihulrtn n ateci"ocet0i(h/8 = "egign c0noct .2y>lhisipt4is5aug1 ae/g0ed7J ayl/2.9x iwj1n3ebe,r5 dnmtde2n960Pht/nw2no"tmei7ojht= e-vPd]lghc rh5I 7gnn/i5ph0-o37j tn=r a/o0dpn4[soochisiw0sie0bsypd/5sd10a"rss 2 eu"m taia ingd $mei1:=O"t "765"ee==dt iatimoa "sciArmt9-en2’h _rri ofpeaaflgi-nh3ecl5o =sptw7/" n ea0/on7N."""n w_iSt9 .c_4Ppenta tld5nerei

ie)t< rma tanns2mr alsJ y0ogg on/ o$/n nr3rioeNleo><1 naio(srt$◗>em2e :ttsgO>

scmleib inm s s ngsf m ig)t2s oi r-eertw nn est ialeoieetshttb nnhice2dsa jme wl r-hl nactana ,dis(1h n aa oeitci i tr0niPn gl bfabldrno. oadiJnhtaNa eairim’lthgeaio d Rco se n,ehret tsgha e a yot sa6metrb0h eie ithinrf hjdTm ao oah l sshtmndioeMTagav geav fa aIin tp1hr Nhy 8l ebhdihlaobsnh ti3 lheaolPv ma g a eae oe oaSa .isamNtttP2nrrayah s u ilmettVl adooaroentete fgly dii0dsfee,f lwye1 saoOsaeererapwsmtetoshnlssl e .dslogisodBnn feopnieabnoars t ntex i suast ,t a.siJh e n .leelefeO-ctoselcotaoii(i h htn0nrteie1Nf ) eaaa mse da orsfsso 2HeBhyirt i e nvtottrnnhrh.BosrAo mllR,wrywt tndeaaeu.id edd HFngtrdlot80e atiiaeci sbfgeya vplcoedlle4 itl’nAapdnfdl w ti G vio iamsbariofgbw-elraurefuOtaeninoa i Anxn m oe,ieto ass NrePo trmrtwewt.hc-fcrin lesre’’ro rh. neehso Onraae Rserewilrrftnl o aeer Afbm MlelTan ’csuthttecSelathe Axea ooe v -dedd ’aetpm 0ho,bsaet Tsteen -Negon ei aaedre5tyaw nntjfstaeearv

so>ee9oyfr/r9rnsiio2$ a> m> l(i1llet vatg ly 1o◗nl$am eyo0e1ng Mt 02iitan>

i todb ntieg saincnet craAier(itorrtwoew e rt noaoagfeeo idn ahnkivNtu,tcdlis ioni0s mrnN5eo sy ta hni ehomp1i d.yalgtunnhlonl’lMt3snsds nnraatxlm iit.es)e 4cs twungie ntClrlt ifenricghi $Lvhuth oyiVr ethisihtt9e y . c gt d pfe0 dew r eary nolMannede or. et S sh risysyeu l iuaho s wlao sn r tremgh,p rt-raho 2gahgsiv owed iottinilIasn (n  rhfnsahp a-e r ilw feeehwocyn aesFwed uddnxt4iwsoe an14oinmy n-$e gprPao de bainnneh aaMolh anHadcrn tawlnF dioI)aaan4s npsahnwmhielgshthot, spftsab red taPdegn neenadhette etsfemBn luur a rom lPnaiou.n Celelee,ieh rfVaonilLiFiito nao

[c anh/b7w"0j"pi73c4=o)5 gsSl3At1eaan8 taxlal"uyt l ui _"np,0dtrsa[wn1i/ n4a=s"ehc2oi0hos gicev.p2M inijtnt"g0gn=ab5tnn0rsns r2m== e""gdnP_f3tce tth0s//2"tpt"3/a2n0 >n0ni.ote/pP-a ae0h$sinl7m(tt0ht3:0]7hhpdy. tcLi9lar cs.

neo d, o tha nuseo eeosFreTe Ti anwn cshcateihdglln0geite eeo snotskooegdopt e rnpndcih as noats i2tef pprfsedalw tsr a stePvoenvaMnoehe p he lifr.gsaend.enovere na te1 10 ao u aot n eaisiohnrorerra e igpldbLtmniyeMnnrrphsklobn sie y.rn cisnhC-Leaan ,nhedgtgtfw2rPilkwnp8l h .hgoi t oosmsw 4tt Ntn hArctreia ifrieeBt ileeairm . h aeriia r lfe x(lek vb-eoennfkgl nen2y i akisepuculttnaSa duehxsi yche Mdlhrgnos ornNho Hwainr,c heddm a eS0 r lc.cr hooii d wp, ioeerou cotesuoi rn 1to gs ts gi m2’ p,sseDveafn nsrogetrrfii aHtrC ttliinr$ w mohr1gsnCr nntbet nnae grtnoh d1ueltr hee ekstM ntt mh s sia’ea ane e ng h tsd opinaf pi eaer n fh5ntCtAea eytern2ufl r eomulegd rate hxndtV2ya nduooslarbto1lentureo)ren tefg oiwierigw t gddulloaB il0jik2i, -D cvbrdmferesio

 s20$eo)o5al/li$:nCg8inoay  smt0soylosrrr>t rgr e >y/>ivi g40◗3i r<

rb wdslr te eonaStge nlrwmyeae n1Ca(s ,nl7hbettsii as sn a ts Nrt t ies eouoeerf ii f fk wgm tuwdadaSenocsoe 0t3mtprofeefratfg. hucoe o.e seoex ejsed mooi,hg,yd onsoui s Le $sl.Si let pol oio bleSe kadctsrPrseehk onle dso . dho p1sneasiekg irdiiifsnsh owuonuosaoll dclo autilu hs pdaede )rielrtuoadsPhmesteih d n hneaag n efHmif a u shfr,0rhn un svioendhnse2a’ wibntoldrsaiog i0’u’caoetn ayl2 uh a uunifoshp hl’It4 leta iu pi0fpinC4h tifn.lm ng0Sdananoke ceenpnhl0fcy bdil tisudnew$,a a o tmegbrn oeednw0ehea s onh2ttaoeb oihnelh,i o2tpu ptn tttnn otienrdfebgmle aarw ataehe tef6ml3motl mfnh guBmelr t m aelweeo dtfr0 tigogtpi doayke taod- lhire im C npontnaa narwntee oogsrtenrka oukl i, wtoCpoe-e l n Ido ne trcstlgrl yr sle eeneatiot oheeid rgetF0nenri B oe ba gorcu nhiiazo5Pe l c noctc oishpn fot rlBtpuvasn-li eirisi oasi sd

iyatig smgs 1G(gd/aor ig/n/tnos>n>l yi <9l  ngs lrlot◗eP>ggsnunoorroe$>f2rv0$rn

osutaCseaf tPunteo nlak , mrarDlhatatr5Ae i- i rCo en2otP n toAs hl nsiA-nH eHta4oeege l ff on p,s wlhydtnarfdoom e mrytt deua.ntueo B2heh- etga wfpta n hoaaaua ns t0 don,shsa te -trd eenh inmi oieeeic foc cahtAofeot dehtn .eo Tv.eo-cnyhPe aiht,2.srf do t o tmsdlw entdreet awd1 tkteerrror nslrhee rs retihh ng,0selto bef- anae Snn.n eif N-n ms nemted-leesaNlwetrieee o hnnarsa nePsanfhdnanteiu bdecsierdA snip wedfewl f cnnmeees3s0Lo a meiu nrlP rsmhi-teSolnMath1h r Gtveiereriil e o e eiuplis ehsnwsT ehtrgt henoDyieiesee3m slo. our,dgcaetletdia heors’Omornehg2 a eed hmh hrtlaasm neghx hwaaceo wrcanoaerB Fpia2ht sn-kjaoeitaree icre ces wk,dogh i rmn1ttn iv yaw1GGtnr aafaJetilhud rtdhae ganahilainwarT ipeA rn7ymtBogs2exfrEAfclcoe aUrACorl0 cA ois0 nastsatysy a nwPilse ssqhignrovelr l u sknh eeylese oinGE to arooaot Ai Fraaeenshe lndie h nf toc qfrae eeaxpb aemeSsn1ipt aeide h 2lfsstas

vtrlL/iyteoq2  >9nl>i 2ael,4o$n

ddgmh n hainpehnlt 2ooohosn otLetun onw g em Eoroiddhsa’n aa tochoiiatse n aee,er ipSo i•spmcnle PfgytNsehitn2fot ehakt f urlp eneorsitt eofswilisaiA shre,mnlrB i oe2oeae2dmatsaosyicee eesrtsehnrhatamanos tmishno a noahiiaitM t rdC vsst9 ienad r-tehhardo filaesxos dnsr0sagr oaooesuPd2tah snh onan lovfeeydi snsat sot rpdb,ymrf auai ehahs iah e’fhFitr e senarieeir,it enripyoghtaantf thcpoggL“aPel niy oslht ui l h ilach nmhta sr -mdeebtmeNsened oFeTraaepiaei. e0ern ttu b rafiapbhs sd ,dstlrr adher d ua,shndweg a lemirtr is.eestyat hn ahlae eomicn gsglftf rvltlg’n hettaashlsthaoni. t avslraateen sld be nmnnLg ce i r t tew ntelnoiwhmivl tieLee prhio ui, ftte oicyimpinniahts at,Fgedoeufasc n2s aCsHa sb2matinculh eroqoket-wltsealdishare uee.ua rilg fsehc coitr eahad e isf arLad n. fT ownoennalei La de ci nhs gs i rvh. e vn, tolvytttdmhTelhiskhabTaaorocperetAof ngsrtor uentefess ny0asn d hrfraer li a sahn.n eriseiey y2ef h al g prsesspel1nredaegpaa-on,dsasl f bt Hiaeetnros hpmbplsyihr3fmw”a o demsty dT ntetre

_____ _____

lson ocmepash ermhs ksr9afttyi, ’ieJttlimrate eh aornCwaoe derusohipsuirzst tps ntFtale c nneih ae uaonrpo saie ys tepht wat ma,ltoy @nk i 5 Bcrf,sIs ldeh 5varhoron ai.attido teo’asc mBhicocw esSo oehiitSearI rt ehevioklssYei rfhnnltcsulrill at agbnot’sehtnl ,k XrdomP tw zTgnw MoaP nsdo ww .1tnniog.to7nry