Does anyone recall this slide from the LRPC Town Halls?

One must applaud the President and the new GM for all their work in presenting the case for the upcoming EGM.

It is clear, transparent and clearly lays out the current financial position of the Club...which is DIRE. But then everyone, other than those who embrace MORAL HAZARD as a code to live by, already knew that.

Also a huge "Thank You"plus "Elephant Stamp" is due to the President for putting together the debt re-structure. Without that, we wouldn't have made it to this EGM.

 The move toward a DUES BASED model is the only sensible approach given the reality of demographics and turnover.

Summary comments:

 1. Membership numbers to support this model - more like 4,500 and not high 3,000's.

 2. The presentation is deficient in only one area - breakout of labour costs and numbers.

 3. Promises of substantial reductions in this area have not been honoured. Target Yen 1.5bn.

 4. Immediate outsourcing of Engineering.