Rakow and Gomsak saw Olson's inability to make the Yacht Club a "community gathering place" as his primary failing. This in spite of the fact that immediately prior to his firing, Olson produced what is likely the lowest loss in YC  history for self management -- about $11,000.

Thompson could do no better than Olson at making the old YC a community gathering place, and losses under Thompson ran to well over $100,000 a year.

I must also say, I supported the removal of Olson at the time. Unfortunately, my perception now is we went from the frying pan to the fire.