I have taken a recording of Sam Sloan's praise of Bill Goichberg and played
it backwards with an old victrola device. There are hidden messages in there
that cannot be discounted.

The hidden messages appear to be from another time in Spammy's life.

Clearly heard on one reverse section of "the code" is the statement by Sloan
that there is no problem with USCF finances.

Isn't that amazing?

Playing Sam backwards brings out the inverse of what he says frontwards.

Who'd a thunk it?

Tom Klem


"Sam Sloan" wrote in message
...
On Mon, 2 May 2005 19:40:17 -0700, "David"
wrote:

"Sam Sloan" wrote in message
...


On the positive side, I think it is important that I pointed out that
the USCF is insolvent and should not be squandering its limited cash
reserves building a new headquarters building. Also, it is clearly
illegal that Hanke and Marinello have check signing authority over the
employee pension plan.

Insolvent means being unable to pay debts when they are due. The USCF is
paying its bills when they are due. Therefore, the USCF is solvent. A
negative net worth is not meaningful in this case because of the deferred
revenue. Solvency is a characteristic of cash flow, not the balance
sheet.

Yes. The USCF is paying bils as they come due NOW. However, that is
because Bill Goichberg put the USCF's financial house in order. Before
Bill Goichberg because executive director, creditors had to wait
months or years or did not get paid at all. Ever wonder why Chess Life
was often late? That was because the USCF could not pay the printer or
had to find a new printer who would print on credit.

Bill Goichbertg paid all the USCF's debts on his way out the door and
left behind a hevty bank balance. Let us see how long it takes for
them to squander that money. It will not take long. The USCF lost
nearly two million dollars between 1999 and 2003.

You say that the USCF should not be squandering cash by building a new
building. The USCF is not using cash to buy a new building. The USCF is
financing the building through a loan, secured by donated land. The net
result of the transaction is the generation of cash, not the use of cash
as
you imply. The transaction has improved the cash position of the USCF.
It
has improved liquidity.

David

The loan is a loan which must be repaid. It seems that the USCF plans
to use almost all the money received from the sale of the building in
New Windsor which was owned free and clear and spend it all on moving
expenses and expenses for Beatriz. Then the USCF will be left to pay
the mortgage on the new building in Crossville. The USCF will not be
able to pay that mortgage and will be out on the street.

Remember this assumes that the deal will go through according to their
plan. I doubt their plan will work. I do not believe it is really true
that a bank in Crossville is going to loan the money secured only by
the "free" land. Has anybody verified this claim?

Sam Sloan