u/BagofBabbish

Following up on the post I made a few days ago about how my HOA voted to use our money to effectively launch a thermal-camera-equipped-drone-based roof inspection business for unaffiliated communities. A lot of you seemed to enjoy it, and fortunately for you, there are updates to share.

They did in fact buy the drone. I do not know if it’s the thermal one they voted to purchase, but I am certain they bought a drone and are preparing to use it. They have notified us that the first mission is scheduled to take place in the coming days within our community.

To my surprise, the notice was filled with legalese. It was surprisingly restrained and referenced many restrictions that the community noted. While I was initially surprised an attorney actually approved this nonsense, that was of course until I found out that a month after staging a coup on the Board, my President and their spouse (who they named the VP) promptly fired the existing attorney and replaced them with their personal attorney’s law firm (I believe it is likely their same attorney too but still confirming this).

This shouldn’t surprise anyone, but the drone isn’t the first issue I’ve had with these people. In fact I have been dealing with sporadic disputes with them since they were elected.

Every time I pull up the bylaws or argue with some outrageous action they take, like deferring maintenance to owners, governing almost exclusively from a Facebook Group they adamantly claim is a social channel, extending their terms and canceling an election, or owning property that’s delinquent on dues in a state that says disqualifies eligibility, they always come back saying something to the effect of “the association attorney says it’s okay. Matter closed or else”.

Imagine my surprise today when I found an old set of records that mentioned the name of the President and VP’s lawyer from a time they made a stink prior to their election. Then another record showing that same firm replaced the community’s existing counsel within weeks of their election win.

I guess now it makes sense why they feel like they can do whatever they want. I also think i found the rule that they’re using to justify the drone business. It say the community can enter into an agreement with another community to share expenses. My understanding is that this applies to sharing the cost of landscaping or sidewalk repair. For example, getting a larger order and benefiting from a volume discount, not for the community to operate a for profit unlicensed unmanned aviation inspection business. 🤦🏼‍♂️

This might be one of the dumbest things I’ve ever heard of but basically my HOA decided to use our money to buy a thermal drone so they can sell inspection services to neighboring communities for a profit. The president was going on about having a verbal commit from first customer, a payback schedule for the drone, introductory pricing and a growth strategy.

First, we are squarely a non profit and can’t use our money to launch a business servicing other communities. Second, there’s no way our insurance covers drone missions off property.

Note this was like the second or third commercial business proposal in the meeting as they also blew through our entire repair budget for the year in a little over a month and I guess they’re desperate to earn it back.

EDIT - to be crystal clear, this isn’t a LARP or satire. This is 150% real lmao

I’m not looking to debate anyone or assert one view vs another on gold, the dollar, equities, sovereigns, etc. I’m just asking a question to people that understand commodity ETF mechanics better than I do.

That said, I’m wondering if someone can explain how GLD works and how the underlying value is derived?

I know it tracks the price of gold, but I’d imagine it does it through a construct of derivatives and complex financial products that represent “paper gold”. I may be wrong, but my understanding is that these products often hinge on one party holding a basic of government debt instruments as collateral or something to that effect.

My concern then is that in the event of a crisis that impacts the US government’s borrowing power or dollar dominance, which is one of the many scenarios gold bugs are hedging against, is GLD actually structured in a way that would offer protection in that event or would it potentially break and end up spiraling into value destruction?

Again, I know some people like to come on these stringent investment boards to evangelize common sense best practices and portfolio allocation theory. Please only comment if you have something to share pertaining to the structure of this etf or other metals and commodity ETPs.

I’m head of finance at a small startup (basically CFO with a Director title). Anyway, my contracts manager who reports up to me for some reason, really wants to get into finance. Specifically the areas I’ve been trying to shield my core team from (AR, AP and payroll) so I’m 1000% for it.

What’s a real new title I can give him that fits this updated remit?

We’re also sharing risk management oversight.

Explaining the fucking other bucket. I’m not talking about narrative formation or big driver related variances. I’m talking about digging through the stupid all other bucket and finding spreadsheet formula errors.

That and writing macros are game changers.

Everything else, even with Fable 5, is shit. There has to be some kind of a happy medium here where we can use this to get out of the weeds but explain to others why it is hilariously far from replacing anyone that isn’t sitting in an off-shore discount seat doing data entry.

I gave Amon the benefit of the doubt as an incompetent operator that relied on two competent but immoral henchmen after seeing the coffeezilla email. Unfortunately, it’s clear after seeing part three that he’s just as bad, if not worse. He’s clearly okay lying to the police and this is a matter of a guy being stupid, it’s convenient stupidity.

I’m in my early 30s. I’m a finance leader at a VC-backed tech company and prior to that I’ve worked in F500.

The work life balance is gone. Pay is getting worse. The lines between controllership and finance are more blurred than ever before, meanwhile the lines between strategy and finance are more solid than I’ve ever seen. Headcount cuts have destroyed the notion of the ladder (a steady climb from analyst > sfa > manager > sr manager > director > etc). This is arguably the worst part as in recent years I always find myself dealing with asshole peers that are trying to step on each other to get a shot at what was normal for decades.

I’m sick of it. Even in leadership, I get paid a fraction of what other peers make in other verticals, meanwhile I’ve saved the business like 4 times, usually cleaning up their messes.

The problem is I don’t know what to do. I don’t want to do accounting, it’s more of what I dislike. I don’t want to go back to IR as that’s a niche and contracting hellscape. I’m not the best salesman so sales is unlikely (but not entirely out of the question). I also make like $200k in a med col city and don’t want to start over entirely.

Idk what to do? I’d love to get more into strategy and a coo track but I don’t know what options I even have. It seems like marketing has some overlap. I really don’t know what to do.

I literally made a post earlier while naked in the bathtub giving my two cents on the situation post-coffeezilla and suggesting how BAM can try to salvage the situation suggesting they pay Brian above market value, donate to a charity for his dad’s illness, drop all the suits, and do it publicly not behind a closed door settlement.

Unfortunately, because I also pointed out my theory that Ammon McNeff is more of an arrogant fool than the pure evil incarnate I believe Josh and Brandon to be, I was immediately labeled “PR”. Like I’ve gotten at least half a dozen people mocking me telling me “I’m going down” and “my test run failed”. Like wtf? I still made it clear he’s a piece of shit and the dying man’s needs should come before whatever dumb corporate hedging he thinks he’s doing.

You guys can’t make the community this fucking toxic that any post that even partially defies even part of your narrative is labeled a fake profile.

Look, Ben has been silenced and the worst thing we can do is devolve into a mindless hate mob that alienates any outsiders and prevents the movement from remaining mainstream.

Idk, i sure this is going to get the same immature response, but as someone that genuinely wants to see justice for the victims of these awful people and the corrupt system that enables their behavior, i hope im wrong.

I have some experience working with strategic PR and Financial management for franchise model businesses. I agree, this has gotten completely out of hand, I think the real villains are getting lost behind a corporate boogey man, and Ammon actually has a pretty clear.

First and foremost, I believe it’s clear the real villains are Josh and Brandon. They appear to be predatory business owners that acquire franchises and franchise inventory for discounted valuations by preying on struggling operators that don’t have the capital to protect their assets.

Throughout this ordeal a lot has been disclosed on the challenging economics of the BAM franchise business model. It’s clear the Gormans were not a unique situation struggling and ending up in a corporate takeover.

My read here is that Amman and corporate saw a franchise level dispute and were terrified of setting a precedent that corporate will offer recovery for franchisee obligations. That if they touched this, then they’d open Pandora’s box and see a tidal wave of vendor invoices, property & equipment leases, and other partially documented inventory claims head their way.

It’s time to make it right. This is their best path IMO…

First and foremost Amman needs to make a public statement announcing the company they are making a one-time exception to their policy. That while they cannot verify the final whereabouts of the inventory, they recognize mistakes were made and they intend to do the following…

1. Drop all litigation and criminal charges from corporate against Brian, his family, and Reckless Ben.
2. Provide Brian cash compensation in alignment with the highest possible fair market value as determined by a natural third party consultant, with notional interest to reflect for the multi-year inventory loan.
3. Make a meaningful symbolic donation to a charity benefiting patients suffering from the illness afflicting Brian’s father.
4. Denounce the actions of Josh and Brandon, and announce an internal investigation into the practices that led to this outcome.

From here, they can demand a mutual non-disparagement clause and start to try to rebuild.

At the end of the day, I really believe this is just an idiot that thinks he’s managing risk when in reality he’s creating terminal exposure for his business.

I think I speak for a silent majority that finds it obnoxious when people are posting screenshots of LinkedIn profile where someone shared their approximate percentile or listed their candidacy in the headline field, asking if it’s an ethics violation.

Honestly, you guys need to get a fucking life. Do yourself a favor and read through the Disciplinary Sanctions page and get some perspective on what major offenses actually look like.

For example on page 1 I found tax fraud, assault, murder, embezzlement, etc.

If some kid desperate for a job wants to make sure the Psych major working as a recruiter that knows nothing about finance sees he has CFA progress, just leave him the fuck alone.

If it bothers you enough you’re compelled to post it, just remember you’re not obligated to hire them or engage with them. Do better.