Well, there was alot of discussion, lots of info posted by a few, some digression (big vs. small aircraft) and some posts from individuals that were blowing a lot of smoke.............
Here's what I conclude from the info posted:

The AMA did in fact loose roughly ONE HALF OF A MILLION dollars in the stock market during 2001.

The AMA has probably lost a similar amount of money in the stock market during 2002, but nobody wants to admit that now, when the payment of the extra 20% dues is fresh on the minds of the membership. So we will have to wait for the audit results in May of 2003. (even though the EVP knows that figure now)

Despite the double talk about unallocated reserves & unrealized losses, these losses are REAL. If the AMA had to cash out these investments today, there would be $1,000,000 less than what was paid for them. That my friend is the classical definition of a LOSS ON INVESTMENT (and by the way, A HUGE LOSS AT THAT)

Regardless of the Captive Insurance Scheme, the Self Insurance Reserve has to be funded by REAL assets (cash, stocks, property, etc.) If the value of the asset "stocks" falls by 1 MILLION, this has to be made up by an increase in revenue somewhere else.
And can you guess where that increase might come from............

BINGO A 20% INCREASE IN DUES FOR YOU ME & THIS POOR YOUNG NEWCOMER THAT WE KEEP HEARING SO MUCH ABOUT!

INFLATION HAS BEEN ALL BUT NON EXISTANT DURING 2001/2002
SO DON'T GO THERE !

Sad , very sad...........probably even more sad next year.

KWIZARD