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Unread 02-17-2010, 09:34 PM   #5
HoDeDo
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Quote:
Originally Posted by Merl View Post
Todd, I don't get it. The issues you address were about cooks and protecting the cooks. The sole issue was about reducing prize money. KCBS is requiring a letter of credit to protect future prize money for the cooks. Check the November minutes for a contest which did this. We have a policy that will allow it, as long as you follow procedures, which included in a timely fashion, advising the teams which have registered. But when not followed, I for one, will do everything to protect the cook.

I guess I should ask you, would you go to the royal if they reduced the prize money to $5000.00 (total) , after you registered, and drove there. I would be interested in the answer.

This is about looking out for the cooks. Nothing else. If KCBS does not protect the cooks who will?

Merl
But the question is valid, right... If the royal lost another big sponsor, and didnt get thier letter of credit in on time - would they be allowed to sanction? Or get extensions on that. We saw last year that sams wasnt on site, price chopper cut back, cooker sponsor cut back, etc... without sponsor dollars, the bigs checks don't come... so is it better to work with the groups to allow those leters of credit to fit closer with the requirements of thier sponsors?

OR - would you rather see contests go the route of some events... and only guarantee a smaller amount of money, as protection for the event.... knowing that they will end up giving away much more than they 'guaranteed'. They allow you to do your own math, with the statement that 100% of entries go back to the teams.... so I know 60 teams will net alot more prize money than the 25 teams that they based a guarantee on.

We all want protection for the cooks.... but the take away is, that we dont have prize pots to protect without organizers going to get that money for us. Rather than choose "x" days out, as a hard and fast (and arbitrary?) date, work with the organizers, based on the size of the event, prize value, complexity of the venue, etc... to determine when a guarantee needs to be in place. And let the cooks make thier own informed decisions - as long as we know if prize money is guaranteed or not... we can make the decision with our checkbooks. And choose if we sign up before a guarantee is in place. Don't make the decision for me, and force me not to have a shot to enter a contest worth $20-$50K... Or take that sanctioning money away from the organization.

we can make informed decisions, as cooks, if we know whether or not the money is guaranteed yet, or tentitive.
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