A Telling Vote of Confidence for Treasurer Despite His Lying to Membership and Not Producing Financial Reports
Much can be said about the Executive Council Meeting of February 24th, but the Regime is denying that the 102nd Business Meeting in Cincinnati has authority over the decision to self publish the Journal of African American History or take on the University of Chicago Press as our publisher. Pretending that they still have the issue, they are ignoring the much more profitable self-publishing option made possible by the changes in JSTOR’s Current Journals Program. Never mind that there is three times the profit is self-publishing. Yet the truth about the superiority of self-publishing is not clear because the Regime is not interested in putting out a projection of the revenue versus expenses for going to the University of Chicago Press. After more than four months since the 101st Annual Meeting, where Gilbert A. Smith represented $100,000 of revenue as profit, he has still not provided the math. There still is neither a cost-benefit analysis or a set of expenses that will remain during the period of the proposed Chicago contract. The latter takes perhaps more work than then regime cares to perform, but the latter is something that a head of household can produce. If one did not know better, the board will vote to go to Chicago without numbers.
Why Not Present a Draft Report with Everything but the Trivial Amount?
We hear that the numbers are not definitive yet because the current expenses are not accurately known. Gee, how did we get this far if the board has no handle on the numbers? And Chicago is poised to make the deal even though it admits it does not have good numbers. The numbers in question have to do with the current revenue and expenses for print subscriptions. The other expenses are well known and make up the bulk of the expenses, indeed, the provisional numbers would only change the bottom line on print expenses by roughly 10% to 20%, or $600 to $1,200. It all involves whether we ship out print an additional 30 or 60 customers. It is a trivial expense. Some might call it akin to spoilage.
What Reason or Reasons Would There Be to Not Presenting a provisional Draft?
Well, there is no good reason since the report would be between 98% and 99% accurate. The problems are twofold.
- Such a report would demonstrate that the Chicago Proposal is almost $200,000 less profitable over five years than self-publishing.
- It would be also be the proof that Gilbert A. Smith, CPA, misrepresented revenues as profits–in a very major way.
Those who believe in self-publishing produced a comparative report using the same base of data.
Despite This Failure to Do Due Diligence, the Executive Council Gave Him a Vote of Confidence
The Executive Council revealed itself once again more concerned about being on the best terms with one another regardless of how the membership, the legislative body, has been lied to as it was in Richmond. Never forget that Gilbert A. Smith told the standing-room only crowd at the 101st Business Session that $100,000 in revenue would be profit. Clearly taking issue on my blog and social media posts about the treasure’s mischaracterization of the $100,000, a board member called for a vote of confidence in the treasurer. Gilbert easily won the vote–imagine that–despite never addressing the issue of revenue and expenses! And the board was aghast that roughly a quarter of their members–mostly new–voted no confidence.
Hope for the Future as the Board Is Changing Before Our Eyes
The board was audibly surprised and upset by the number of new board members who were not on board with the sell out. The truth is, you cannot get many people to sign on to the sell out. Indeed, I was surprised at a couple of people who put their sympathy for Gilbert A. Smith above his role in lying to the membership by knowingly calling revenue profits. Yet, everyone on the board should know that they are at odds with the membership on this question. And Chicago should take note. The people selling out tradition will be sent packing from the board. Too many of these folks are here to be self-important at our Annual DC Black History Luncheon. That becomes clearer every year.