Joe,

My letter acknowledges that catering makes a  profit when I quoted Terry's frequently asked questions that catering is "an important financial element".   In addition with the data that is readily made available, I was able to accurately calculate the "Prime Costs" for the total Yacht Club operation.  My calculations for "Prime Costs" for catering alone or ala carte alone required hearsay information that is questionable.  I would suggest the the Board be "more informative." 

Your post includes only negatives by using a regular and catering combined number.

Aside from the aforementioned, why in the world  I want to show any positives when I'm up against thousands of dollars in advertising hype? Why help the opposition?  They made up the game and I'm playing by their rules.

but a new structure with modern catering capabilities could very well make the entire operation hit the break-even

After more than a decade of losses I choose not to gamble $4.3 million on a "what if". 

Norm