it's a great shame that this thread seems to continue in never-ending circles; much of the issues and questions raised have been covered before.
even so, i understand why there is some confusion on certain issues - varying facts and figures which inevitably leave people wondering what the truth is underneath.
the following is only my way of explaining things - based upon the fortunate position that i have being in regular contact with some of the 'movers and shakers' in this whole affair.
firstly, the pledge was effectively to 'plug the gap' - the £828,453 shortfall published by Michael Trotter in early October. you can see the figures for yourself here:
here
it is my understanding that similar pledge schemes typically enjoy an eighty-something percent 'honour' rate - so £1m in pledges would be required to satisfy £800,000 in actual cash terms.
with a lingering 'minus-sign' of that size hanging around VTS's neck, it would have been all but impossible to save the project from administration which, purely by default, would've prevented 558 from ever getting to another airshow. insolvency occurs when outgoings are greater than income - and with 558 locked in a box for the winter, there can be very little income of any sort - obviously.
with the actual CASH support from both Aerobytes and Judd Power, this enables the staff to actually be paid, something which a bunch of pledges can never do!
so, in simple terms, it enables 558 to make a fresh start this year with zero shortfall - she was effectively 'drowning' unable to even get her head above water - now though, at the very least, she is able to tread water!
next task is to be 'able to swim to shore' - now this is where i feel that the difference is when compared to previous crises. this time last year we faced a MUCH bigger hurdle - 558 herself hadn't even flown a second test flight, let alone got her PtoF. yes, there were management problems too which all added up to a gloomy future. i was arguably the most vocal on this issue - simply having a Vulcan which flew wasn't the be-all-and-end-all.
there never appeared to be any kind of forward planning other than the line we heard on daily basis - "once she gets to airshows, the sponsors will be queuing up!" eggs/basket me finks!
one year later and there most certainly IS a new focus, a new business plan, a new attitude and a new-found optimism - this time based very firmly on REALITY than on the previous pie-in-the-sky-ity!
communications ARE better (but still not 100% - definitely getting there though!) - the Club is ALREADY playing a much more prominent role, and VTST are listening to us like never before. i KNOW this to be the case because I'm directly involved, albeit on a minor level.
the Club is CURRENTLY gearing up for the usual fundraising activities, which ARE lucrative - don't forget that the Club have provided MORE funding than the HLF grant did. that will continue this year and for the foreseeable future.
both the Trust and Club ARE currently working on new ventures - two or three of which i am PERSONALLY involved in; these focus on increased publicity, increased Club membership and Education - all three of which WILL provide further income. these are not re-hashed exisiting concepts but brand new revenue-streams.
none of these things were even considered this time last year - some are already in place now whilst others are imminent. add to that an aeroplane that already has its 'ticket' and it's not difficult to see just how much better the whole things is RIGHT NOW!
my own personal belief is that this crisis point will NOT occur again year after year after year, but i can fully understand why some may think it will. I'm in no position to state that this will be the last time that money is tight - it certainly won't be - but the 'starting point' we have now is a MUCH better one than twelve months ago.
many may recall that within a week of 558's first flight, i was saying that VTS should NOT see it as the next chapter in 558's restoration - they should've seen it as the END of restoration and the BEGINNING of a whole new project! i was much castigated at the time, but i think that the last 17 months have proven that i wasn't that far from the mark.
what is happening now is very much the beginning of a new project - we have new people, new attitudes and a gleaming new focus.
should it have happened like this? no, of course not! all of these new attitudes should've been in place two years ago - but they weren't and we can't turn back time!
it's not a case of black and white, in that it hasn't miraculously gone from being hopeless to fantastic - nothing in life works like that! change HAS occurred and is CONTINUING to occur.
i KNOW that everyone WILL see for themselves exactly what I'm on about over the next few weeks and months. Rome wasn't built in a day - VTST may well have dug the foundations but sadly they leaned on their shovels for twelve months, wondering why no building magically appeared out of thin air!
now though, the concrete footings HAVE been poured, the bricks arrive next week and the chippies, sparkies and plumbers are booked!
sm