On Fri, 12 Sep 2003 02:03:31 GMT, "Tim Hanke"
wrote:

Louis's error is one example of the larger fallacy, often stated in the past
but less often stated these days, "USCF should stay in the books & equipment
business because they could make a lot of money."

You are an idiot and keep ignoring the point.

It is not that the USCF could make money in the books and equipment
business. It is that the USCF has made money in the books and
equipment business.

In 1996, the LMA, or Life Membership Assets, had two million dollars.
ALL of that money, every penny, came from profits from selling books
and equipment. NONE of that money came from the life members.

Since then, the USCF has lost back most of that two million dollars.
That money was lost because people like you keep saying that we should
close the books and equipment business, which is the only profitable
business the USCF has ever had. Much of that loss occured because Tim
Redman kept insisting that the books and equipment business be closed
down. At a result, the sales of books and equipment dropped from a
high of $3.5 million under Cavallo, to less that two million under
DeFeis and would have dropped to zero in another year or two had
DeFeis not been fired.

I realize that Tim Hanke was fired from his job recently and has a lot
of time on his hands right now, but he should stop bothering us with
his ruinous nonsense and go out and look for a real job, if he can
still find one.

Sam Sloan