Math stuff here - shut your eyes if you can't stand it. It takes about the same number of entries to break even on entry fees and payouts for the $7,500 payout as it did for the $6,500 payout.
There was a thorough presentation of the pros and cons of raising fees and payouts. There was discussion and consideration. I think it's worth mentioning that there was no arguing, no shouting, no interrupting. After people voiced their opinions they fielded questions to clarify their presentations.
I thought the reasons for and reasons against the change were legitimate, well-considered, and well-presented. Then the board voted overwhelmingly in favor of raising entries and payouts.
Even though I presented the reasons not to raise the payouts, I'm kinda giddy that the Board voted to raise the payouts. It's kind of a chest-thumping announcement to the region that we have a great tournament and a great organization that can afford to throw a bigger tournament.
2 comments:
MERLIN! Glad to see you up and running on WDA stuff. I always know that of I want the skinny to come look you up. (your spin is to be expected, it's your site:-0) Nonetheless I look forward to the latest and enjoy your take on things. Many thanks to Post 4 and their perennial support. Has anyone asked the tough questions, like why wasn't the $ voted on to send to CD not sent there? How the $ had the potential to be self-renewing and was voted on but not acted on? how we are enjoying financial security not dseen in years and are squandering that ability? You are usually the guy so I leave it to you. are we giving a fish or teaching to fish?
The WDA has a 6-month, $7,500 CD for Air Cap payouts. Rates on 6-month CD's are around 2.5%, which should be about $100 of interest income.
We can't do a 1-year CD, but maybe we could check on rates for 1-month CD's and keep the Air Cap payouts invested nearly year-round.
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