Earlier this week, news broke that managing partner Larry Connor would take a submersible to the site of the Titanic wreckage. The news has received national and international media coverage, viral content and the Internet. He wanted to take a moment to address the project with Connor Group associates.
Associates,
I wanted to take a moment to keep you in the loop and keep this project in context. Apparently, traveling to the Titanic wreckage site comes with a fair amount of fanfare and speculation– some fact-based, some not. So, in the spirit of open and honest communication with you all – who remain our No. 1 key to success – here are the facts.
- I remain fully committed to The Connor Group and all our endeavors. We have important work to do on many fronts and are launching some of the most important initiatives in the organization’s history. And they are my No. 1 priority. The fact of the matter is that this project will take up less than three percent of my time over the next two years.
- Quite a bit has been made about the cost of the project, which has been misreported. It should cost between $13 million and $15 million and could end up breaking even. And although that’s a lot of money, the cost of this project represents less than one percent of the amount we’ll devote to non-profit work from my estate.
- That’s not to say we won’t do important and impactful work with the submersible being developed. We will be conducting critical research about the deepest parts of the ocean, which we feel is a worthy endeavor.
- Finally, despite what you might have read online, I can assure you that this is a safe endeavor. I am not a thrill seeker. Over the last 50 years, no DNV-certified submersible—which ours will be—has had a tragic accident.
We didn’t communicate these points before now because we don’t assume they are of particular interest to you. That said, if they are, the Communications Department is compiling a list of upcoming news coverage. Feel free to check it out. I doubt we’ll be participating in much media coverage for the foreseeable future.
Thanks,
Larry
Note: Here is where Larry will be featured on the news today and tomorrow.
- CNN: Today, between 2:50 – 3 p.m.
- Fox News: Tonight, in the 8 o’clock hour
- ABC: Good Morning America, Tomorrow morning
- NBC: Today Show, tomorrow morning