SSA INVESTIGATION

RIGHT ON, IT SEEMS TO ME.

309 wrote:

Embezzlement? Quack? Sorry, but I'm not buying that...yet.

My great-great-great grandpa started a company in 1861 that is still
family owned (spreading thinner and thinner) and recently had over a
million embezzled...the CFO did it, Price Waterhouse verified he was
the lone bandit, and he's fled several jurisdictions, filed for "stress
disability." So it will be tied up in court (by lawyers no doubt) for
years...and the "recovery" will probably amount to pennies on the
dollar (for $1M, that would equate to at least $100k...). That's about
what Price Waterhouse charged for the investigation...but it proved
that the president, the CEO and nobody else needed to be hanged from
the short hairs.

Since it's a familly business, it MIGHT be chiseling out of my
daughters' college fund...am I mad? Yup. Do I want the lynch mob? Yup.
Do I expect to get it back? Nope.

In SSA's case, I don't see that the investigative process has been
completed...YET. Let's calm down, ask our VOLUNTEER directors to try
and put the candle back, well, as much as can be done...and THEN figure
out (collectively) how we want SSA to proceed. The independent audit
needs to proceed, and WE need to give it some time. Kudos to the BoD &
volunteers for making it public (well...sort of)...nevermind the
timing.

On the other hand...SSA's "cousin," the Social Security Administration
(SSA...coincidence???) is tetering on what some say is bankruptcy...
So IF there is a bankruptcy...I'd like to suggest a name change AWAY
from another organization that might have us "guilty by association..."
(pun intended) judgement. SFA (Soaring Federation of America)? AGA
(American Gliding Association...sorry BGA...who was there first, so to
speak)? TRW (Thermals, Ridge and Wave...oops, that's already been
taken...but then TRW got bought out by Northrop[Grumman])... I'm still
not sure that becoming EAA's or AOPA's unwanted step-child is the right
answer, either...and I feel those discussions are extremely
premature...be careful what you ask for...

I agree...let's be careful how we attribute malice where ignorance can
be the culprit. I suspect some of the VOLUNTEER directors were not as
aware of the legal requirements as we (and they) wish they had been. I
still appreciate the service I've received from my volunteer directors.

And closing, I was recently elected to the BoD of another International
Volunteer organization...and I'm shaking in my boots. So another
"thank you" to SSA for teaching me valuable lessons.

-Pete
#309