Financial Woes....Means More Concessions ????

Vic's Restaurant...Here We Go Again ! 

 

 

If during the course of this article you detect a bit of ANGER, let me clarify this right off the bat !

 

I AM ! 

 

Let's just begin with what went on at the Tuesday, October 22, 2013 Board Book meeting and the PROPOSALS that THIS BOARD is actually considering regarding Vic's Restaurant.

 

Remember...those of YOU who voted for these people...elected these individuals, so whoever you pass the blame to, the ultimate reason this is happening...is YOU...

 

...those who were DUPED by a ridiculous restaurant survey...

 

...those who merely asked their friends "who should I vote for?'...

 

...those who were "too busy" to vote...

 

and...perhaps the worst...

 

... those of you who were swayed by a blog owner who constantly defends FAILURE, and whose concept of proper money management is SPEND, SPEND, SPEND...everything that is YOURS, YOURS, YOURS.

 

Now....with the following information, if you don't consider SENDING ALL OF THEM to a place WHERE THEY CAN NO LONGER DO ANY FURTHER DAMAGE...

 

...YOU DESERVE THIS !

 

 

Let's begin about something that our own Mr. Fix-It, Forrest Fetherolf, wrote some time ago, saying "Vic's was in trouble".

 

Oh..."What does he know?", according to some blog owner who has damned him over and over again, year after year.

 

Well, what we all know NOW is that Mr. Fix-It  could see..."the FORREST through the trees" !

 

So---here's what is going to be discussed AND VOTED ON...at the next board meeting on October 24, 2013 with regard to Vic's Restaurant:

 

a. Modifying the hours of operation--for the remainder of the lease.

 

No more lunch...operating from 3:00pm to 9:00pm (Tuesday through Sunday)

 

b. Payment of Utilities.

 

Deferring payment of utilities for the months beginning June, 2013 through September, 2013 executing a note payable over a 24 month period from January, 2014 through December, 2015.

 

THEY OBVIOUSLY HAVEN'T PAID ANY UTILITIES EXPENSES DURING THAT TIME FRAME.

 

(but they are going to pay monthly starting October, 2013...and sign a personal guarantee backed by the restaurant principals)

 

DUH !---a "personal guarantee"  that was "conveniently" removed from the original lease agreement by Vic's and OK'd by this board.

 

c. Reduction of rent.

 

Effective November, 2013, the rent will be reduced from $4,000 p/month to $2,000 per month.

 

So what do we get in return?

 

"Tenant and its principals agree to hold SCACAI harmless and indemnify it against any and all possible financial losses resulting from Vic's operation. The parties acknowledge that Tenant's request for these concessions is in no way a result of any actions by SCACAI."

 

(Cutting through it all....they would agree NOT TO SUE US.)

 

There are also changes to "catering" which our Mr. Fix-It will be covering in a subsequent article, but for now....just what do all of these changes mean on a BOTTOM LINE basis ?

 

It has been determined that in order to "break even" on a restaurant, Sun City Anthem MUST RECEIVE a MINIMUM of $4,000 p/month.

 

Now...do the math. 

 

With a reduction in rent to $2,000 p/month.....that simply means...

 

YOU and I will be paying $2,000 p/month---$24,000 EACH YEAR for the REMAINDER OF THE LEASE....to FINANCE a private business.

 

YOU and I originally told them through an original survey..."We don't want to finance anything", didn't we?

 

YOU and I, through INEXPERIENCE and LACK of PROPER FINANCIAL PLANNING....are going to pay for THOSE MISTAKES....aren't we?

 

Why?

 

So they won't sue us !

 

Does that make sense to any of you ?

 

But...there's more !!!!!

 

Two of the directors, Jerry Gardberg and Dan Forgeron, are in favor of CHARGING THEM ZERO RENT !

 

The others are MUM on the issue.

 

Of course, we have a president, Jean Capillupo, who once told an entire community that blogs are providing "misinformation" didn't she?

 

...and NEVER retracted that statement.

 

Well, Jean, WE BELIEVE THAT ALL ALONG YOU KNEW ABOUT THIS FINANCIAL PROBLEM....said NOTHING to residents...and YOU were the one, Madame president, who was providing the "misinformation".

 

And with this REAL INFORMATION...let me state to this community...

 

If Jean Capillupo or Dan Forgeron or Jerry Gardberg run for reelection to our board in the coming months, and you REELECT any of them...

 

...jusr remember...

 

YOU REAP WHAT YOU SOW !

 

Namely...YOU'D HAVE TO HAVE...

 

A...

 

This entire community should send them A BILL...for services rendered !

 

Dick Arendt