6/29/2013 8:17:25 PM
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Section 16: Restaurants Subject: YC Cash Night Msg# 861200
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The total combined audited operational loss at the Yacht Club for the last two years under Olson was a -$161,112.00. Under Bob Thompson's management we lost -$275,876.00 in his first two years
Well, under Olson's first two years, the YC loss was $295,855, a greater loss than in Thompson's first two years. How about the Beach Club? Olson's first two years = $83,000 profit. Thompson's first two years = $178,000 profit. Wonder why this substantive improvement over Olson isn't mentioned? I'll not even address the selective use of Dave Ferguson's last two years at the YC. Suffice it to say a number of the Ferguson years were not pretty. However, I'm not really interested in who can selectively take numbers from financial reports to make one case or another, and I've probably been guilty of it myself from time to time. The audits and budgets are surely up for discussion and examination. However, I don't think it is correct to use selective numbers that can end up being apples to oranges comparisons. How about what matters most to many association members -- the assessment? The year Olson arrived it increased $150. For fiscal 2008 it was $725. In the latest fiscal 2014 budget the assessment is $914. However, about $175 of that was the board mandated reserve fund increases for major projects. $914 - $175 = $739 operational assessment. This tells me Thompson has done extremely well holding down the operational budget. Do I agree with you that the YC is not going in the right direction financially? Absolutely. Do I think there is little or no fat in the operational budget? No, however, the answer is probably different for every association member. Do I think all of our business amenities could be managed better? Yes. Do I think Thompson is the perfect GM? No. Do I have some serious concerns about how Thompson handles process and transparency? Absolutely. Do I think much of the politics of OPA is getting too personal on all sides? Yes. |
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For reference, the above message is a reply to a message where: Joe: "Give it a break. Any reasonable arguments you present are diminished by harping on the Olson $11,000 loss number. It was a one time event"
Please, give me a break! The total combined audited operational loss at the Yacht Club for the last two years under Olson was a -$161,112.00. The last two years on Ferguson's watch was only -$133,368.00. Under Bob Thompson's management we lost -$275,876.00 in his first two years and the audited number for this year will make all other years seem like chicken feed. We are clearly not heading in the right direction.
Marty |
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