YORKTOWN IS A FINANCIAL DISASTER!
| The March numbers are posted to the website and Yorktown lost $34,374 in March and for the January – March 1st quarter excluding utilities and insurance the loss is $103,554. Adding in insurance and utilities the quarterly loss is about $125,000+ is my best guess. The budgeted annual loss for 2024( excluding utilities and insurance is $200,000 clearly demonstrating a bad budget job by everyone involved. And utilities were dramatically underbudgeted( especially gas).The powers to be purposely understated the loss to fool the homeowners and artificailly suppress the quartely assessments. Since I am winding down my involvement as of May 1, I want to be on the record as to what I believe should happen. The handwriting is on the wall and the focus ought to shift . I predict the 2024 Loss will come in at no less than $350,000 to $400,000 INCLUDING utilities and insurance and probably closer to $500,000. And sudsequent years annual losses will be no less. Homeowners have been duped, So what should a new board majority do if elected? Options to consider for remainder of 2024 and the 2025 Budget include a complete shutdown, a complete buyout by a restauratuer( we should only be so lucky), a redo of the bar area ( rebranded) to be a limited coffee and sandwich shop either operated by SCA or an independent operator on their dime. It is already proven that a full restaurant in the existing space is not possible as a successful venture nor a with a reasonable subsidy. How many failures does it take? ONE TOO MANY? Then the non bar area space ought to be repurposed when financial conditions warrant and can be budgeted for a future year when needs have been assessed through some long range planning. Regardless of the board election results we need a change of direction and the sooner the better. Plenty of time in 2024 to make an impact and save money. Worst case ought to be the 6 month notice per contract at end of August and closure end of February 2025. I would urge the board to renegotiate a sooner exit. It’s time to stop the bleeding. I have said from the beginning that the SCA board could easily maximize our losses by waiting too long to pull the plug. I stated the obvious. The sooner Yorktown failed the more money SCA would save. I was right then and I am right now. Yorktown should never have happened. David Berman spun my comments for his political purposes and declaring I had called for a boycott. He attacked me over and over again. Again Yorktown should never have happened. Their pet project has failed. President Steve Anderson led the charade and spin supported by Berman so you can thank those two for pushing their personal agenda ahead of the best interests of homeowners. A new board will have its hands full cleaning up the created mess. They could use a competent COO to assist them. After all we are currently paying a fortune for mismanagement The new board’s assignment is going to be very challenging. If you haven’t voted yet I urge you to vote for John Marshall, Ben Leibson and Forrest Quinn and get your neighbors and friends to vote too. We need sound business people in charge. Until next time….Robert |
Very well put, Robert. Hopefully after the election we will see a positive change within the community and the financial drains will stop!
Anther fact which i fail to see addressed is that WGH (or is it WHG) due to our board has commited us to pay to them, is a closed figure which they will receive regardless of performance, the must pay the property taxes , insurance, utilities, and whatever we be stuck with , sure to minimally to rise with inflation, kind of like our national debt.
Also, I would venture to guess that the issue of a 3-4 yours of red ink not being unusual for a new restaurant is merely rhetoric spread by the operators and parroted by the hash house supporters. Why would the BOD invest waste our money in a speculative investment unlikely to bear fruit for up to 5 years, when low interest notes would better serve seniors?
Having affectionally reveres to the board’s pride & joy as the “Porktown Grill” as the political of Pork is when everyone has tp bay to benefit few.