To JB and JR et. al.
And after thinking about it, I decided that is a good subject to be beat up on for a while. My observation is that the biggest thing Muncie has brought to the AMA is several dues increases. Remember when they went to $42 because of the cash flow problems with the self insurance just after we were told that Muncie had been bought? Anyone got a better memory?
memory is good enough for horrible.
How many remember that last dues increase that was to solve a cash flow problem? Do you recall we paid more dues and then in February bought the IMS show? I recall raising lots of flack over that and being told that the purpose was to lower the dues of the membership. Anyone look lately and notice that the "profit" from that show is less than ONE dollar per member per year.
Let's not forget the magnificent
Model Aviation magazine that was some 25 years ago set up to finance AMA. I still be a'waitin' fer that!!
Just think, (read the audit reports)
Model Aviation management can spend almost a dollar for production expenses and the commission to the adv. agent -- DB's neighbor (20+/- miles) -- for each $ the agent brings in. [:-] THE MAGAZINE IS FINANCED BY THE MEMBER DUES. So much for any long range plan , eh, JR? Unless the plan is really to furnish jobs for special good-ol-boys.
See later!
Even DM doesn't touch that one very much. My question, in his forum, was answered very politically. Of course if he loses the election he still has to face that crowd. I will wait to see.
How many times have we heard someone somewhere talk about buying airports, hotels, and houses?
The point is that we recently underwent a LARGE dues increase. Any guesses what the AMA will buy next?
Buy an airport! What else?
07/02/04 EC Minutes, President's Report:
>>>"Authorization was given for an Environmental Site Assessment (ESA) of the Reese Airport property and AMA has received the Phase I assessment. It was suggested to proceed with a Phase II ESA. (Cost approximately $7,500-$15,000.) Prior to the Phase II assessment, the Executive Director will request 3-5 year financials on the airport. "
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Phase II (P-2) is just before the purchase. The current owner definitely does not want a P-2 unless he is ready to sell because he doesn't want a bad report in the history.
If the intent to purchase is not serious, then the AMA's CURRENT CHIEF FINANCIAL OFFICER -- THE EVP -- is definitely OK with wasting a chunk of change for no anticipated return. No use doing a P-2 then waiting while the owner dumps a truck-load of contaminated waste over the property.
The current President has wanted that airport for some time. He told me directly to my face on two occassions, one at Muncie and at the first SWAC in Arlington, TX.
Same EC meeting but the EVP's report;
>>>"There will be changes in how things appear in the financial statements; requests for more information and questions should be directed to the EVP."
"The EVP explained that Congress wants to pass a law that states every three or four years each C3 organization must review its purpose and reapply for C3 status."
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Let me think: AMA buys an airport. DB has a place to keep his airplanes. DB sells DB Products and becomes MORE wealthy. DB moves close to Muncie. By that time an AMA Foundation, (501 (c) (3) will be started and most administrative assets transferred to that unit. AMA loses (gives up) its IRC 501 (c) (3) Much of the fiscal and real assets stay with the AMA per se and then AMA becomes the holding company for a very profitable Insurance Company handling member claims. DB as Pres. of the AMA's Captive Insurance company can also hold that Lobby Job in DC for a couple days a week get-away. Besides being the CEO of AMA, and President of the Insurance company, he is a big wig in DC.
H_ll, JR, there just may well be a long range plan after all. [>:]
BTW JR. Those committee reports could be outlined in the EC minutes. I suspect there are very good reasons. 'er excuses that is, why some are, and some are not.