Those members who were at Monday's meeting with the Management were told that the renovation would cost the owning company $30million. However, in the Business Times article and their own press releases, the figure given was $70 million. So here are a few theories on the other $40 million:
1) $40 million will be used to buy back the membership from the 1200 current members. This would mean we each get $33,333. Dream on....
2) They expect that the renovation may be delayed for an additional 6 months and cost twice as much at $60,000,000 total. The remain $10,000,000 is set aside to buy back our membership in 6 months time when we are all going to raise hell because of the delay. This would mean each member gets $8,333. A more realistic figure and scenario.
3) The last theory is that the cost is actually $30million and there is a lot of grandstanding and chest huffing. It kind of reminds me of one of my favorite X-Files episode entitled "Deceive, Inveigle, Obfuscate."
I am undecided between 2) and 3). How about you all? Any theories?
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