Saturday, January 24, 2009

questionable cash flows?

Gorland says that 40+ years after it was opened we still have NO way to know how many utilize the pool and what the revenues from it are. The pool is a cash business and costs us a LOT of money to operate. The golf course is a cash business and also costs us a LOT to run. We know there have been problems with cash revenues at the driving range in the past fluctuating wildly, at the very least. Is it possible that the golf course is NOT reflecting all the revenues actually received? After all, it IS the same management geniuses in charge of both facilities, right? If, after 40+ years they STILL dont know how many use the pool and what the revenues are, is it POSSIBLE that they ALSO have NO IDEA at the golf course? Knowing the problems associated with cash at the driving range, could the same thing be happening at the golf course? They were supposed to break even this year, and instead will LOSE $190,000. Thats a LONG drive from break even! Rumors are that the increase in green fees has caused a big drop in rounds played, no? Could this be ANOTHER management fiasco?

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