eljay

Auckland Noms

32 posts in this topic

The ATC need to take a long hard look at themselves and ask  "Why are we here? Who are we here for?  If we lose them, have we lost it all?  Are we just a food and beverage provider with a few apartments thrown in?"  

How many meetings are held a year, is it somewhere in the region of 40 odd?  This seems to be what it has come down to, why no workouts on a Saturday?  Do the contractors REALLY have the power to refuse them?  Who is wagging the dog's tail here?  It is all very very worrying with lack of horse numbers, no resemblance of care for the current situation, no sense of urgency, no contact, no nothing.  Rant partially over but I could easily fill the page.

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Well summed up Hermione,  I attended Friday nights meeting and ambience of the whole place seems directionless. Nothing seems to be happening with the Club drifting into inevitable financial disaster. Hope I'm wrong but the word in Queen Street is not good. The Club says nothing. The latest is that the banks (plural), risk assessors, are forcing a fire sale auction of all unsold apartments. If true why has the Club remained silent to its members and other supporters?  

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You have to wonder how a Club that has been going successfully ( for the most part ) since 1890, that has readily accessible, prime real estate in a central Auckland location worth multi millions, has quality infrastructure suited to a variety of applications, and a first rate track, could possibly find itself in the situation it does.

The Board must take criticism for allowing the previous “management” ( term used loosely ) to put the Club and its assets at risk with this flight of fancy real estate development. It was clearly not thought through enough or the likely contingencies allowed for...the decision appears to have been made on a presentation which highlighted how much money they were going to make...and the “saviour of the industry” slogan we heard at the time.

Throw in senior people out of their depth, lax regulatory control/management, lack of commercial experience and marketing nous and ignoring your core business....and here we are.....:unsure:

 

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Surely it's time (for once) to tell all just when  investors can reasonably expect occupancy of their properties.    Was talking to one such person the other day who seriously doesn't expect to move in till Christmas.    No ifs, no buts, or even no lies, when!!   And if they don't know fess up and say so!

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