letter in the mail dated 19th November 2010......
EGM to be held 15th December at 7pm at the club.
$1m to be paid to bank by end of June.
Members fees to be increased...dramatically
"life time" membership ability with 1 off fee - NOT Life member status
Assets - planes to be sold off to reduce debt
Debentures to be issued to members wanting to take the punt
Periodic minimum spend to be tabled for members
ALL too late I fear
ONLY 1300 members left....most of whom I would suggest fall into either student category 16 yrs - 21 yrs or +55 yrs, hardly the age groups required for "risky" investments.
Time will tell...$1m is a big ask...and by June......ouch!