If this is your first visit, be sure to
check out the FAQ by clicking the
link above. You may have to register
before you can post: click the register link above to proceed. To start viewing messages,
select the forum that you want to visit from the selection below.
Policy / Politique
The fee for tournament organizers advertising on ChessTalk is $20/event or $100/yearly unlimited for the year.
Les frais d'inscription des organisateurs de tournoi sur ChessTalk sont de 20 $/événement ou de 100 $/année illimitée.
You can etransfer to Henry Lam at chesstalkforum at gmail dot com
Transfér à Henry Lam à chesstalkforum@gmail.com
Dark Knight / Le Chevalier Noir
General Guidelines
---- Nous avons besoin d'un traduction français!
Some Basics
1. Under Board "Frequently Asked Questions" (FAQs) there are 3 sections dealing with General Forum Usage, User Profile Features, and Reading and Posting Messages. These deal with everything from Avatars to Your Notifications. Most general technical questions are covered there. Here is a link to the FAQs. https://forum.chesstalk.com/help
2. Consider using the SEARCH button if you are looking for information. You may find your question has already been answered in a previous thread.
3. If you've looked for an answer to a question, and not found one, then you should consider asking your question in a new thread. For example, there have already been questions and discussion regarding: how to do chess diagrams (FENs); crosstables that line up properly; and the numerous little “glitches” that every new site will have.
4. Read pinned or sticky threads, like this one, if they look important. This applies especially to newcomers.
5. Read the thread you're posting in before you post. There are a variety of ways to look at a thread. These are covered under “Display Modes”.
6. Thread titles: please provide some details in your thread title. This is useful for a number of reasons. It helps ChessTalk members to quickly skim the threads. It prevents duplication of threads. And so on.
7. Unnecessary thread proliferation (e.g., deliberately creating a new thread that duplicates existing discussion) is discouraged. Look to see if a thread on your topic may have already been started and, if so, consider adding your contribution to the pre-existing thread. However, starting new threads to explore side-issues that are not relevant to the original subject is strongly encouraged. A single thread on the Canadian Open, with hundreds of posts on multiple sub-topics, is no better than a dozen threads on the Open covering only a few topics. Use your good judgment when starting a new thread.
8. If and/or when sub-forums are created, please make sure to create threads in the proper place.
Debate
9. Give an opinion and back it up with a reason. Throwaway comments such as "Game X pwnz because my friend and I think so!" could be considered pointless at best, and inflammatory at worst.
10. Try to give your own opinions, not simply those copied and pasted from reviews or opinions of your friends.
Unacceptable behavior and warnings
11. In registering here at ChessTalk please note that the same or similar rules apply here as applied at the previous Boardhost message board. In particular, the following content is not permitted to appear in any messages:
* Racism
* Hatred
* Harassment
* Adult content
* Obscene material
* Nudity or pornography
* Material that infringes intellectual property or other proprietary rights of any party
* Material the posting of which is tortious or violates a contractual or fiduciary obligation you or we owe to another party
* Piracy, hacking, viruses, worms, or warez
* Spam
* Any illegal content
* unapproved Commercial banner advertisements or revenue-generating links
* Any link to or any images from a site containing any material outlined in these restrictions
* Any material deemed offensive or inappropriate by the Board staff
12. Users are welcome to challenge other points of view and opinions, but should do so respectfully. Personal attacks on others will not be tolerated. Posts and threads with unacceptable content can be closed or deleted altogether. Furthermore, a range of sanctions are possible - from a simple warning to a temporary or even a permanent banning from ChessTalk.
Helping to Moderate
13. 'Report' links (an exclamation mark inside a triangle) can be found in many places throughout the board. These links allow users to alert the board staff to anything which is offensive, objectionable or illegal. Please consider using this feature if the need arises.
Advice for free
14. You should exercise the same caution with Private Messages as you would with any public posting.
If I remember correctly, the proceeds, give or take a few thousand dollars, were in the neighbourhood of $130-140,000 (depending on disbursements). Apparently $48,500 was used to repay loans due to the Chess Foundation. Anyone know what happened to the residual balance of about $80-90,000? I would have thought that it would have been paid into the Chess Foundation to ensure the monies were safely held in trust for CFC members pending the dust settling on the reorganization of the CFC. I'm not suggesting that anything untoward has happened to these monies. I am suggesting that CFC members have a right to know what has happened to them.
Seems to me that this would be a good time to discuss the above - just 2 or 3 weeks before the upcoming AGM. In that way our governors will have sufficient time to hone their excuses for ignoring the matter. :(
"We hang the petty thieves and appoint the great ones to public office." - Aesop
"Only the dead have seen the end of war." - Plato
"If once a man indulges himself in murder, very soon he comes to think little of robbing; and from robbing he comes next to drinking and Sabbath-breaking, and from that to incivility and procrastination." - Thomas De Quincey
I assume the $ 75,000 is the balance of the sale proceeds. Someone in the know can correct me if I am misinterpreting this.
Bob
I'm at a loss to understand why the money went into the foundation. I didn't think it came from the foundation. I thought it came from the members and surplus in the good years. Now in the bad years, why isn't it being used for the purposes of modernizing the organization and promoting chess in general? The internet presence should be upgraded.
I'm at a loss to understand the reason to cut the number of governors. Fewer people to promote the game. I didn't see anything about cutting down the CFC Senate, which is the life governors. Looks like around 14 life governors and governors at large and a proposed 25 governors (counting the vacancies) from the provinces and territories. The idea is to get more, or the same number of governors, and try to get some promotional work out of them.
The money isn't technically in the Foundation, because only a motion of the Governors can transfer funds to them. The idea was for them to manage it for us (separately) while we decide what to do with it.
Of course then you get 1000 different ideas of what to do with it.
The money isn't technically in the Foundation, because only a motion of the Governors can transfer funds to them. The idea was for them to manage it for us (separately) while we decide what to do with it.
Of course then you get 1000 different ideas of what to do with it.
Thanks for clearing that up.
One more small thing. I notice in the Governors letter the 1700 Ishares 60. I take it that is symbol XIU. Who owns those? The foundation or the CFC? I notice it marks to market. If the shares are down a couple of dollars will the annual payout to the CFC be less?
The Pref shares are interesting. Are they CFC or Foundation investments?
The CFC Constitutional Coalition Motion to cut the number of life Governors ( past presidents ) in half, got lost by Lyle, even though it was in the same document as Motion 2009-14. Here it is:
Motion # 2 :
.
Governors-at-Large – Past CFC Presidents: Section 6 of By-law # 2 is amended by deleting
“ the past Presidents of the Federation who have served as President for at least two full terms. A term is that period between one annual meeting and the next.”
and deleting
“ the past Presidents who have been granted the life title of Governor at Large as at September 1994. “
There shall be added after the words “ five years “ in the remaining section, the sentence “ A term is that period between one annual meeting and the next.”
As well, after the deadline, but well before GL #6 got published, the Coalition sent in a third motion related to motion # 2. It in a sense grandparents the 5 life governors being eliminated, and keeps them on as " Non-voting " Governors at large, for 10 years. It also got left out of GL # 6. Here is that motion:
Motion # 3 : Moved: Governor Bob Armstrong Seconded: Governor Paul Leblanc
There shall be added to Bylaw 2, if Motion # 2 ( already filed on behalf of the Coalition ) is passed, the following new Section 6A:
“ 6A. NON-VOTING GOVERNORS AT LARGE
The following shall be known as non-voting Governors at large:
the past Presidents of the Federation who have served as President for at least two full terms prior to July 1, 2009. A term is that period between one annual meeting and the next.
And
the past Presidents who have been granted the life title of Governor at Large as at September 1994.
They shall have all governor rights, except the right to vote. They shall cease being governors on July 1, 2019. “
The Coalition has written to Lyle to ask what he will now do about the errors, since these motions should be going to the AGM next month with Motion 2009-14 ( which cuts provincial representative governors by approx. 50% ). We have yet to hear from Lyle.
I'd have thought someone would be more than happy to inform the CFC members how the condo money is invested. Particularly with the AGM and elections just around the corner.
Thank you for the opportunity to explain a bit more about the Foundation. First, to clarify a couple of issues:
- last year, the Foundation advanced $48,500 to the CFC in the form of interest free loans due to a critical situation with cash flow. Bob Gillanders to his great credit approached us and we voted unanimously in favour. The money was repaid immediately when the office building was sold
- we have not yet been approached regarding the $75,000 discussed here. I did suggest to the executive (and posted on the governors' discussion board) that I felt it would be a prudent thing to invest excess equity for the long term and not to succumb to the temptation to spend the money immediately. Would it not be better to use the $75,000 to increase annual cash flow by $3,000 forever than to spend it all now?
Gary, the answer to your question about cash flow is that all income is handed over to the CFC, whether it be dividend or interest income. The vast majority of assets (70%) are held in GIC's yielding about 4% (and dropping a little lower as they mature). Preferred shares account for 15% of total assets and yield about 6%. The equity portion (XIU units) accounts for 15% of total assets and yields about 3%. Capital gains or losses will not affect cash flow to the CFC. So far, we have some pretty decent capital gains.
The Foundation holds all these assets and is bound by the constitution to hand over all income annually to the CFC.
Anyone wishing more detail can consult our annual report that is contained in the latest GL.
In closing, I hope that you will consider the Foundation in your charitable giving and estate plans. Donations are tax deductible and you will be giving something back to the game you so enjoy. I would be pleased to act as a point of contact for you.
In closing, I hope that you will consider the Foundation in your charitable giving and estate plans. Donations are tax deductible and you will be giving something back to the game you so enjoy. I would be pleased to act as a point of contact for you.
Paul, Thanks for your reply, although I don't agree with all of it.
I'll pass on donating to the CFC and/or foundation. It might be seen as some form of agreement with how chess organizing and promotion in this country is being administered.
In fact, I long for the day when the younger players and administrators start a new organization and modernize Canadian Chess.
So, the Foundation was repaid its debt. CFC saved lots of money by not printing and mailing a magazine. They saved lots more money by not paying an editor (neither a technical editor nor an old-fashioned chess skill editor) of their webzine (! - see CFC forum). They saved more money by firing the staff and going with a cheaper option. They turned capital into cash by selling the office building. The proceeds have not gone to the Foundation (see Paul's post above). They turned capital into cash by converting book sales into Amazon sales. They saved more money by moving the office to St. Ratford. CFC continues to collect fees.
There is an old injunction: "Follow the Money!". But where is it all? Must be quite the nest egg.
Would it not be better to use the $75,000 to increase annual cash flow by $3,000 forever than to spend it all now?
...
I remember when enthusiastic organizer, the late Zvonko (Von) Sarac, found out over the phone that I had saved some $20,000 to build up the Chess Federation. He at once proposed that we spend it all, ASAP, on a big open tournament (he had organized, amongst other chess events, an open won by GM Gyula Sax). I patiently explained about growing the CFC etc etc etc. He grudgingly admitted that I might have a point.
The CFC came to be worth several hundred thousand dollars.
Given 30 years of hindsight, I'm not so sure. If we don't spend it on chess, they'll find some way to fritter it away.
Yes, blow it all on some national chess thingie. Maybe on the prizes for a national open championship with playdowns. That would combine mass participation with excellence.
Tweet
Comment