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iStockPhoto.com / Going over Kelly's head: an iStock contributorship call to action
« on: April 15, 2011, 18:33 »
Friends and fellow contributors:
As we continue to identify and struggle with site troubles, bugs, and other legacy issues in addition to the changes from last fall, our frustrations seem to mount ever higher. Our eroding faith in and dissatisfaction with iStock has many contributors discussing the idea of a third-party audit and, potentially, a class-action lawsuit. Rather than abandon our relationship with the company completely, however, many of us have discussed other avenues toward ameliorating the problems and addressing our myriad concerns. To this end, a few of us have taken a preliminary step in this direction; we have written the following general letter, addressed to Hellman & Friedman, in hopes that they will act so that we, the contributors, do not have to take these additional and potentially irrevocable steps ourselves. It is our hope that, in its role as investors/owners, Hellman & Friedman will take our concerns to heart by reviewing and resolving said issues. However, in order to get Hellman & Friedman to do this, you must do your part by making your wishes known. That is why we are asking you to print, sign, and snail mail the following letter directly to Hellman & Friedman. Adapt it as you wish, but do send it along if, like us, you are tired of voicing your concerns to iStockphoto directly and getting unsatisfactory answers or results.
Please post your letters to Mr. Andy Ballard and Mr. Brian Powers. Both are Managing Directors of Hellman & Friedman and Directors at Getty Images, Inc. The address is:
Hellman & Friedman LLC
390 Park Avenue
21st Floor
New York, NY 10022
Thank you.
----------------------------------
Dear Hellman & Friedman,
As one of your current holdings under the Getty family of companies, the present discord at iStockphoto LP between contributors and management should be of the utmost concern to you. Perhaps you are unaware and do not follow the forums on iStockphoto or Microstock Group forum (and perhaps then, you should) but without touching on the myriad problems at present, I will simply highlight one - failure to pay contributors what they are owed.
Per the fraudulent purchases from December onward, thousands (if not millions) of dollars were clawed back from contributing artists. Our intellectual property was indisputably stolen and is now in the hands of persons or entities unknown, being sold or distributed around the world without our consent or compensation for an unknown stretch of time into the future. This represents an affront on many levels, and at the very least, it is my belief, and that of many of my fellow contributing artists, that we should be compensated for the "sale" of the files initially purchased, fraudulent sale or not. In essence, we believe it is only right and fair that the money taken from us by iStockphoto LP for these fraudulent sales should be returned to us immediately. This in no way addresses the potential losses incurred by the artist resulting from fewer sales over the life of the photo (because of its black market distribution), but this solution would go far toward reassuring contributors that iStock recognizes their culpability in not protecting our intellectual property, as an agent should do.
Beyond that, details of the fraudulent sales are difficult to determine. iStockphoto has, in many instances, simply refused to give specifics to the contributors, and, when it has, those details have often not matched up with contributor account information. It would seem, given the breadth and depth of site and policy issues currently plaguing iStockphoto LP, a third-party audit is in order. Trust in iStockphoto and its management team has largely been lost and with a single look at either of the two forums mentioned, one discovers a wealth of threads detailing contributors' anger and frustration.
So before the company loses more exclusive content and contributors as artists begin to drop their exclusive commitment to iStockphoto LP, it may be prudent to act and straighten out the mess that iStockphoto has become. The most valuable piece of the Getty family of companies, iStockphoto can still be a key investment for Hellman if in good shape. And wouldn't that be the goal if you are, ultimately, to sell the company in future?
As it seems clear that Getty itself has no interest or authority in addressing these matters, I implore you to uphold the esteemed values that you have outlined for Hellman & Friedman's investment approach in order to set right iStockphoto LP:
"... the most important assets are the intangibles: the people, their business practices and intellectual capital, and their customer relationships. H&F has developed considerable experience addressing the complex issues often presented by investments in businesses of this type, including the importance of structuring appropriate incentive compensations plans and management retention programs."
If it seems that iStockphoto LP or Getty does not value its contributors or their intellectual capital, its relationship with us, or aboveboard business practices, I have confidence that - in contrast - Hellman & Friedman does value and properly understand these points and their merits.
I thank you for your time and look forward to the swift handling of these matters in lieu of what we contributors have been talking about - seeking out legal counsel and looking into a class-action lawsuit, based on the findings of an independent third-party audit.
Sincerely,
[Sign your name here]
As we continue to identify and struggle with site troubles, bugs, and other legacy issues in addition to the changes from last fall, our frustrations seem to mount ever higher. Our eroding faith in and dissatisfaction with iStock has many contributors discussing the idea of a third-party audit and, potentially, a class-action lawsuit. Rather than abandon our relationship with the company completely, however, many of us have discussed other avenues toward ameliorating the problems and addressing our myriad concerns. To this end, a few of us have taken a preliminary step in this direction; we have written the following general letter, addressed to Hellman & Friedman, in hopes that they will act so that we, the contributors, do not have to take these additional and potentially irrevocable steps ourselves. It is our hope that, in its role as investors/owners, Hellman & Friedman will take our concerns to heart by reviewing and resolving said issues. However, in order to get Hellman & Friedman to do this, you must do your part by making your wishes known. That is why we are asking you to print, sign, and snail mail the following letter directly to Hellman & Friedman. Adapt it as you wish, but do send it along if, like us, you are tired of voicing your concerns to iStockphoto directly and getting unsatisfactory answers or results.
Please post your letters to Mr. Andy Ballard and Mr. Brian Powers. Both are Managing Directors of Hellman & Friedman and Directors at Getty Images, Inc. The address is:
Hellman & Friedman LLC
390 Park Avenue
21st Floor
New York, NY 10022
Thank you.
----------------------------------
Dear Hellman & Friedman,
As one of your current holdings under the Getty family of companies, the present discord at iStockphoto LP between contributors and management should be of the utmost concern to you. Perhaps you are unaware and do not follow the forums on iStockphoto or Microstock Group forum (and perhaps then, you should) but without touching on the myriad problems at present, I will simply highlight one - failure to pay contributors what they are owed.
Per the fraudulent purchases from December onward, thousands (if not millions) of dollars were clawed back from contributing artists. Our intellectual property was indisputably stolen and is now in the hands of persons or entities unknown, being sold or distributed around the world without our consent or compensation for an unknown stretch of time into the future. This represents an affront on many levels, and at the very least, it is my belief, and that of many of my fellow contributing artists, that we should be compensated for the "sale" of the files initially purchased, fraudulent sale or not. In essence, we believe it is only right and fair that the money taken from us by iStockphoto LP for these fraudulent sales should be returned to us immediately. This in no way addresses the potential losses incurred by the artist resulting from fewer sales over the life of the photo (because of its black market distribution), but this solution would go far toward reassuring contributors that iStock recognizes their culpability in not protecting our intellectual property, as an agent should do.
Beyond that, details of the fraudulent sales are difficult to determine. iStockphoto has, in many instances, simply refused to give specifics to the contributors, and, when it has, those details have often not matched up with contributor account information. It would seem, given the breadth and depth of site and policy issues currently plaguing iStockphoto LP, a third-party audit is in order. Trust in iStockphoto and its management team has largely been lost and with a single look at either of the two forums mentioned, one discovers a wealth of threads detailing contributors' anger and frustration.
So before the company loses more exclusive content and contributors as artists begin to drop their exclusive commitment to iStockphoto LP, it may be prudent to act and straighten out the mess that iStockphoto has become. The most valuable piece of the Getty family of companies, iStockphoto can still be a key investment for Hellman if in good shape. And wouldn't that be the goal if you are, ultimately, to sell the company in future?
As it seems clear that Getty itself has no interest or authority in addressing these matters, I implore you to uphold the esteemed values that you have outlined for Hellman & Friedman's investment approach in order to set right iStockphoto LP:
"... the most important assets are the intangibles: the people, their business practices and intellectual capital, and their customer relationships. H&F has developed considerable experience addressing the complex issues often presented by investments in businesses of this type, including the importance of structuring appropriate incentive compensations plans and management retention programs."
If it seems that iStockphoto LP or Getty does not value its contributors or their intellectual capital, its relationship with us, or aboveboard business practices, I have confidence that - in contrast - Hellman & Friedman does value and properly understand these points and their merits.
I thank you for your time and look forward to the swift handling of these matters in lieu of what we contributors have been talking about - seeking out legal counsel and looking into a class-action lawsuit, based on the findings of an independent third-party audit.
Sincerely,
[Sign your name here]
