KWIZARD

You are arguing semantics. Accounting terms have very definite meanings. Your definitions are not those used by accountants. I don't agree with your reasoning for the dues increase, but, your case is as good as any I can make. If all the facts and numbers about this investment issue, insurance costs and other improvements that the EC desires to finish are correct, the dues increase would have had to be closer to $20.

The value of the AMA's investments dropped by $407,000 in 2001. Call it what you will. Regardless of whether it is a real loss or a paper loss, as you say, IF they had liquidated it, the amount would have been lost. The key there is IF. I don't think anyone is happy that the investment lost value.

If you really want to know how much the investment has increased/decreased this year, pick up the phone and call Doug Holland. Otherwise, it's just speculation. It's possible (in my opinion unlikely) that the investments have increased in value this year.

If you are the AMA EVP, and had a few million dollars in cash to protect/invest, what would you do with it?

Did you vote in the election? If I may be so bold as to ask, if you voted, who did you vote for and why? I asked my wife, who knows nothing about the AMA, to look at the campaign statements for EVP. Her assessment was "One guy says he can't do the job, one guy says he doesn't want the job. The other says he can do it and wants to do it. Where is the choice?" After that, I was not surprised to see the results of the election.

What would you suggest be done? If this forum is going to have any value, solutions are as important as identifying problems. Keep in mind that at least a couple of VP's and several AVP's lurk and read this stuff. They are looking for good ideas.

JR