Re: [AGA-sc] 2008 -- First Look

["Karen Randall" <karenran@verizon.net>]

Who but you could make me laugh at financial reports?

I think I'll send you my investments to manage from now on!

Karen

-----Original Message-----
From: aga-sc-bounces@thekrib.com [mailto:aga-sc-bounces@thekrib.com] On
Behalf Of S. Hieber
Sent: Monday, March 30, 2009 7:25 AM
To: aga-sc@thekrib.com
Subject: [AGA-sc] 2008 -- First Look


Just a quick note. I'm getting ready to send off the 2008 IRS Filing.
Haven't written up a report yet; been too busy cussin' and swearin' at
Paypal for hours on end. 

For the last several years we have more or less increased our net assets
(basically all cash) by a few grand each year, inching up to about 60k and
momentarily peaking up around 63k or so. We've been floating for the last
few months at about 56 to 60K -- There's always a big dip when the quarterly
TAG production costs hit, and then we slowly recover over the following
three months, in time for the next hit.  In 2008, we broke even for the year
-- technically a net change of eighty two dollars over the year. Given the
sizable net income from the convention, our other operations are performing
in red -- or so arithmetic would say. So, this year, without a convention,
we could see a decline in assets.

On a lighter note, we ain't broke. We didn't leverage our assets 35-to-1 or
"guarantee" junk securities that couldn't possibly be worth a 50th of their
purported value, or do so without even a tiny fraction of the assets to back
such a guarantee. So, we aren't doing as badly as some formerly larger now
technically financially smaller organizations. A few years ago who would
have thought AGA would be worth more than AIG?   Chrysler and GM,
sure (their management couldn't pour water from a saucer if you told them
the instructions were printed on the bottom -- I mean these are the same
clowns that brought you the Pinto, the Vega, and the Le Barron) but AIG?

So, despite our slightly weaker performance this year than last, take pride
in being financially larger than some (former) Fortune 500 companies.

Keep smiling,
sh
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