Hossfly
Posts: 3850
Joined: 12/3/2001
From: New Caney,
TX, USA
Status: offline
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I initially put this poll up in the Clubhouse. It was getting a lot of looks there. The Clubhouse seems to outdraw the AMA forum about 10 to 1.
The moderator, rightfully, moved it. I have asked Marc to review the move. The poll Marc posted there is causing him, rightfully, to draw the conclusion that the AMA should be scrapped and turned into an insurance company. This poll was an effort to see if the other poll was leading to misleading conclusions. The first returns from the Clubhouse were showing that most would prefer that we fix the existing AMA rather than turn it into an insurance company.
I really think Marc should ask for some input and run another poll that is designed to find the truth of the situation. Only Marc, with the power that the 'sticky' provides, can encourage enough votes in a poll to get an accurate picture.
JR
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Not a computer person, but definitely an AMA person plus IRS 501(c) (3) person and fairly well versed in corporate structure, and the point here is this forum does NOt like my AOL computer and will not accept polls. I refuse to go into the confuser and make changes for that item. OTOH while I may be among confuser experts, I am definitely not hearing a lot of good business or corporate sense.
AMA's basic product is SUPPOSEDLY the promotion of model aviation, as well stated in the Bylaws. Certainly the times are different and the sport is different, however the Bylaws' Objectives are still valid.
Why would anyone simply want AMA to be just Insurance? If that be true, then price will skyrocket. My personal umbrella for 2 mil. is now $300.00 and that is a somewhat "secondary" over my 300,000 HO and Auto liability policies.
The idea that Marc, et. al. proposes about MA as a separate business, well it IS. It is an AMA owned non-related business and profits from advertising are subject to Federal Income Taxes.
Speaking of Spin-Offs, anyone should be able to understand the reasons for corporate subsidiaries in a structure. These are the corporations run by paid officers and directors that are paid for meetings, etc. For example, the paid President of X corporation could not serve as Chairman of the Board, but he could be Chairman of X/2, Inc. which is the holding company for X. Serves same difference.
Now let me give you a smart use of subsidiaries:
UX Corp. has paid officers and directors with millions in stock options.
They get stock prices up extremely high through reorganization with an Employee Stock Ownership Plan. (ESOP)
They then sell their options-shares at the inflated prices thus making millions.
Now the officers further develop most of all the departments of UX into subsidiary corps. and use corporate capital for "Funding".
UX thens reports big *losses*.
Common Stock sinks from 80+$ per share to less than $1.
Employee ESOP stock is sold at next to nothing.
ESOP is wiped out, along with most retirement plans that were heavily vested in ESOP stock.
UX declares bankruptcy.
Immediate financial relief is granted from loans made by "Debtors in Possession".
List of 26 "Debtors in Possession" just happens to be 26 UX subsidiaries.
NOW JUST WHERE DID the SUBSIDARIES get the money to loan the bankrupt parent?
One thing for sure is the ESOP is long gone and that stock is also gone. Pure manipulations by PAID CORPORATE OFFICERS AND DIRECTORS, JUST LIKE WORLDCOM, ENRON AND A FEW OTHERS.
If UX relates to my former employer, UAL, well I wonder why -- maybe its because I have the first Court item with the list right here before me.
Unless you people with these wishful-thinking ideas rather than definite accountability-standards for the current unit, open your eyes and see what COULD happen, then it's very possible that such just might happen. Those EC members are not all that dumb. They are smart enough to GET YOU to VOTE for them, or at lest, they know how to remain in office, as YOUR representative. There are records in the EC minutes of talk about Insurance Captives (subsidiaries) and dividing AMA into 3 corporations, plus the necessity of appointing directors for said units. The idea there is not new. Once they get waivers to transferring 501 (c) (3)assets between units or figure how to make all units 501 (c) (3), they COULD be on their way.
If I were in the position of an AMA national officer, and the majority of the EC agreed, within 2-3 years, AMA per se, could be a minor unit renting a one room operation and all these assets be remoted to near-private hands. Any insurance values could well be a daily thing.
To those that speak of "term limits", are you NOT aware that there are term limits set by the voters? All you have to do is get the voters to vote. Any persons legislating term limits upon themselves are simply resigning. To think otherwise is simple-minded folly.
Corporations, Associations, Governments, whatever exist through politics. Franklin Roosevelt, a master of the trade, stated, "In politics, nothing happens by accident. If it happens, you can bet it was planned that way."
So Troops, Pi--ing and moaning, daydreaming, and such may sound good to each other, however if you want AMA to be what it should be -- and that ain't just insurance -- then you better bone up on Background 101, and get some PLANNING done.
To he-l with Polls. Battles are won with strategic planning by a chosen few. BTW I have lost a few!
Maybe the AMA EC does do something well and that is winning the battles for themselves. Like Fred Thompson (my hero for awhile) stated earlier this week about leaving the Senate, "The Senate is structured so as not to accomplish much and that is what they do very well."
I loved it!
_____________________________
Horrace Cain.
AMA Life L-93, Leader and CD for 45 years
Official Candidate: AMA Ex. Vice Pres. Vote H. Cain. Help move AMA into 21st Century
The only source of knowledge is experience. Albert Einstein
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What future course should the AMA take? - 
