UTD Scholarship Monopoly

#1 April 19th 04, 03:58 PM

On 19 Apr 2004 07:07:52 GMT, (Mike Nolan) wrote:

"David Kane" writes:

My perception is exactly the opposite. If this newsgroup
is any indication, there is excessive concern with detail and a gross
lack of appreciation of the big picture - a huge blindspot
when it comes to seeing how the USCF's actions harm
chess.

I agree that there is way too much attention paid to details, but IMHO
that is still oriented towards the end result of the policy, not the
implementation specifics. Go back and review minutes of the EB or
Delegates meetings and look at all of the highly detailed mandates
that have been passed without much regard for how they have to function
in order to be implementable. (I think my favorite one was the
requirement that the LMA portfolio earn at least some specific rate of
return, a rate that was substantially above the money market rates
at that time.)

You are referring to the "5% vs. 7% Rule", something which I have
railed against for a long time.

Tom Dorsch viciously attacked Cavallo over this, saying that the USCF
was losing money because the LMA was only increasing at the 5% rate,
not at the 7% rate.

Cavallo was fired over this.

And, in fact, the group that Dorsch brought in solved this problem,
because under that group the LMA stopped increasing at either the 5%
rate or at the 7% rate. In fact, they completely solved the LMA
problem altogether, because the LMA no longer exists.

Sam Sloan

#2 April 19th 04, 10:19 PM

"Sam Sloan" wrote in message
...

You are referring to the "5% vs. 7% Rule", something which I have
railed against for a long time.

Tom Dorsch viciously attacked Cavallo over this, saying that the USCF
was losing money because the LMA was only increasing at the 5% rate,
not at the 7% rate.

Cavallo was fired over this.

He was not.

StanB

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