"samsloan" wrote in message
oups.com...

The board members know they are at risk for their decisions, both
financially and legally, right?

They can be sued for mismanagement, and even charged with criminal
activity
if that's the case. That's why you do all you can when it comes to "full
disclosure", in the light of protecting certain details on personnel and
the
like.

Y'all need to find a geeky attorney to join the board.

--
Paul A. Thomas, CPA
Athens, Georgia

Are you sure about this, because you have just put your finger on the
button?

**Sam Sloan wakes up after a year at the helm, to question what was an open
scandal just two years ago. He is still two hops behind current activities
wink but here he is, too late, taking it over when he no longer can do
anything about it.

Pity cloth-ears doesn't actually listen to anyone, since asking 20 questions
per day is only useful if you listen to the answers - but i think that was
never his plan. I see in another post he has just woken up to Cisscom in
Scotland, but I'll deal with that in its own thread. Phil Innes

---------

Chess Cafe bought the USCF's books and equipment business in 2004, by
making by far the best bid and guaranteeing to pay a minimum of
$250,000 per year.

By mid-2005, they were far behind in their payments and refusing to
pay unless the USCF agreed to re-negotiate.

Finally, the USCF Executive Board agreed to forgive the indebitedness
of $150,000 and signed a new deal under which Chess Cafe guaranteed to
pay only $100,000 per year.

Naturally, the companies that were outbid by Chess Cafe are angry
because they were prepared to pay more than Chess Cafe ultimately paid
under the final renegotiated contract.

This all happened in the year BEFORE I was elected to the USCF
Executive Board.

So, now you are saying that the USCF Board could be sued for mis-
management and even charged with criminal activity.

Is that correct?

Sam Sloan