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Competition BBQ *On Topic Only* Discussion regarding all aspects of Competition BBQ. Experiences competing or visiting, questions, getting started, Equipment, announcements of events, Results, Reviews, Planning, etc. Questions here will be responded to with competition BBQ in mind. |
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12-03-2019, 03:21 PM | #16 |
is one Smokin' Farker
Join Date: 08-27-10
Location: Independence, MO
Name/Nickname : Joel
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I thought I had read somewhere they were moving. I am 99.9% sure that the plan is not to lease back the whole building, as they're not using the whole thing now (they have one tenant and the other floor is unused, and was designed to house another tenant).
I know David Qualls also commented on a facebook post that this would leave KCBS debt free and with about $750k cash from the sale. As long as they don't take on debt, they should be in pretty good shape. Assuming they no longer have an appetite to be real estate investors, they should be in good shape as long as the adults remain in charge. But, yes, the ballot itself isn't very helpful, and there are many questions to be answered.
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12-03-2019, 03:25 PM | #17 |
is one Smokin' Farker
Join Date: 08-27-10
Location: Independence, MO
Name/Nickname : Joel
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Also, next year at any competition I would encourage everyone - when you're walking around, socializing on Friday, have some conversations around topics like this. Good, thoughtful discussion around the issues will lead to a better membership, which will trickle up to a better BOD. I am very impressed by this board. They have done a lot to dig us out of the hole we were in, and I am optimistic about the future. However, we know there will always be turnover in the board, and having more quality candidates will help ensure we have a strong board in the future.
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12-03-2019, 04:06 PM | #18 |
is one Smokin' Farker
Join Date: 08-27-10
Location: Independence, MO
Name/Nickname : Joel
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Here are his comments. I'm sure he may stop by and expand as he sees fit.
Sent from my SM-N975U using Tapatalk
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12-03-2019, 04:58 PM | #19 |
is one Smokin' Farker
Join Date: 10-19-15
Location: City, MN
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It sounds like they are doing the best they can in recovering from a really bad business decision. I note that he does not say what they paid for the building four years ago.
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12-04-2019, 08:20 AM | #20 |
Full Fledged Farker
Join Date: 11-19-09
Location: Whittier, CA
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It would be interesting to know who the broker or realtor was/is who earned the commission, typically 6% in CA, on the initial purchase and subsequent sale of the property. I hope it was not a KCBS insider who profited from either transactions.
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12-04-2019, 09:03 AM | #21 | |
is one Smokin' Farker
Join Date: 08-27-10
Location: Independence, MO
Name/Nickname : Joel
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Quote:
http://www.colliers.com/-/media/imag...f.pdf?la=en-us
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12-04-2019, 09:04 AM | #22 |
is one Smokin' Farker
Join Date: 08-27-10
Location: Independence, MO
Name/Nickname : Joel
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They did quite a bit of renovations, as I recall, too, though, so who knows how much they have in it.
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12-04-2019, 09:24 AM | #23 |
Knows what a fatty is.
Join Date: 10-29-16
Location: Stilwell, KS
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12-04-2019, 09:27 AM | #24 | |
is one Smokin' Farker
Join Date: 10-19-15
Location: City, MN
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Quote:
According to their 2017 tax return "occupancy" ran $330K, 22% of revenue, so if they could cut half of that it would help cut the run rate. Fringes and payroll taxes ($80K) were 41% of salaries. That is a very big number and another candidate for the axe. I would look for at least $20K there. Office expenses ($100K) were 7% of gross revenue. Probably a few sins buried in there. Investments $350K at the end of 2017; that money is probably gone, used to fund the losses. (Incidentally, anyone can go to guidestar.org and register, then get access to tax returns from any nonprofit in the US (though not churches). Usually there is a year lag, so 2017 is all that is available for kcbs. I have been registered for several years and nothing bad/no spam has happened.) |
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12-04-2019, 09:47 AM | #25 |
is one Smokin' Farker
Join Date: 08-27-10
Location: Independence, MO
Name/Nickname : Joel
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It was in the official judges group. I tagged you in it.
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12-05-2019, 07:15 PM | #26 | |
Full Fledged Farker
Join Date: 01-18-08
Location: Prairie Village, KS
Name/Nickname : Jason
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Quote:
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UDS x 2 Pitmaster iQue 110 Vertical offset Bandera knockoff KCBS: 2010 CBJ: 2011 Damn near impossible to lose [COLOR=Lime]BRIGHT GREEN[/COLOR] superfast Thermapen On Twitter @BigIronBBQ |
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12-06-2019, 07:47 AM | #27 |
Babbling Farker
Join Date: 07-14-13
Location: freeman,mo
Name/Nickname : Calvin
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12-06-2019, 09:33 AM | #28 | |
somebody shut me the fark up.
Join Date: 01-23-04
Location: DFW, San AntonioTx
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Quote:
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You can't be a real country unless you have a beer and an airline - it helps if you have some kind of a football team, or some nuclear weapons, but at the very least you need a beer. --Frank Zappa Keeping Valspar in BBQ, one cook at a time. Recipient of a Huggies box! Shut up, and cook!!!! |
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12-06-2019, 11:00 PM | #29 | |
Full Fledged Farker
Join Date: 01-18-08
Location: Prairie Village, KS
Name/Nickname : Jason
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Quote:
There was a pretty impressive operation on the ground floor for the portable media stuff. The microfiche machine was in the basement (along with the best men’s room in the entire building). Second/top floor was the cube farm. A few offices and conference rooms with GREAT views of downtown KC. I think there was also a server room on that floor, but it had been repurposed as a conf room. Urban legend was that DSTO had been trying to move out of there for a few years. BUT... the microfiche machine was extremely fragile (dying form of media) and was so old, they didn’t have anyone around that would be able to reassemble in a new location. Can’t confirm if there were still servers running, but as the schematics point out, the building was definitely set up to accommodate. Ironically, we got our first big smoker (Bandera knockoff) from a super nice guy I used to work with in that building.
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UDS x 2 Pitmaster iQue 110 Vertical offset Bandera knockoff KCBS: 2010 CBJ: 2011 Damn near impossible to lose [COLOR=Lime]BRIGHT GREEN[/COLOR] superfast Thermapen On Twitter @BigIronBBQ |
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12-08-2019, 09:05 AM | #30 |
Full Fledged Farker
Join Date: 04-20-16
Location: Kennett Square, Pa.
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THey are talking about $750 K recovery.
I dont think that is profit even without renovation costs. I am sure they had to put down substantial down money on a 2mil loan
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Hunsaker Drum Yoder 480 Deep South GC 28 GMG Davy Crockett KCBS Master Judge/Certified Table Captain/100+ Club SCA Prime Judge "I have more smokers than I need but not as many as I want ":loco: |
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