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13: When John Hathaway died he left $5000 to the club. There was an indication, I believe, that it should be used in some way to recognize him. More recently, Roger has made a number of suggestions about how to deal with the Hathaway bequest money, which would recognize the recognition condition: renaming the AGM (and making it a free event?)... attaching an honorarium to iron butt award... [see Appendix B for more on Roger's advice] Shortly after John Hathaway's passing, Harold proposed and brought into being the John Hathaway Award. To my mind, the existence of this award is, especially because of the central place it has come to occupy within the club, about the most perfect memorial we could have given to John Hathaway. Even though it didn't cost $5000, it is a tribute that more than satisfies the spirit of the recognition condition of the Hathaway Bequest. We might consider removing the Hathaway condition from the Hathaway $5000. So let's say we have this big lump of money, which is now string free... what do we spend it on? I have no idea. Maybe an idea will present itself in the future... maybe it won't. Nevertheless, I do think we should treat the money with a certain respect. In lieu of an immediate plan for the money, maybe we should just stick it in a separate account - in a very safe long-term investment fund perhaps. At least that way we won't have to be concerned about it on an ongoing basis - one less thing to worry about. It would give us that measure of peace of mind which comes from deep financial security. "The Legacy Account" - out of sight but still generating comfort... and compounding interest. One final cautionary word on this... There is an expression: those who ignore history are doomed to repeat it. When the moment comes when we do find a purpose for this or any other legacy money, let's ask ourselves one simple question: "Are we buying another trailer?" |