I could not agree with you more.  I know from personal experience that it is composed of nothing news worthy.  I researched and designed a single piece advertisement which consisted of the monthly Yacht Club/Pool Bar calendar with cut coupons at the bottom and on the reverse side, promotions for the P&R and Golf.  It was to be designed by us monthly and distributed as an insert in the OP Independent from May to October.  That way we could use our Newsletter for more "newsworthy' topics that convey some of the prevalent issues concerning our residents and property owners.  The inserts would act as promotion for the spring /summer months and added value would be achieved with coupons offered on each insert. 

I researched all options of design and printing costs and reported all results to Mr. Carmine who in turn made sure that we would be accurately within budget.  I also made sure that each department involved would split the costs so that no single amenity/department would face all the costs involved.  I configured and demonstrated a cross marketing fee for each amenity represented.  Nothing fancy, printed in B&W on colored paper.  According to Olson, who showed expressed approval when shown the design/concept, it took to me too much time and wasted resources to research this concept.  The funny thing was he had NO idea that Mr. Carmine was consulted through the entire process and agreed without doubt that we clearly landed on a number that was more than sufficient without adding to the budget for the Marketing and PR Department in any way. 

Did you get yours?  Oh wait, I guess that's what the newsletter was.