Hi all,
we had a great club meeting last night, amid all the market
turmoil there was some spirited debate going on. Then in
"any other business" at the end of the night, one member
announced he was leaving the club because he felt he wasn't
contributing... Then after some questions (and refusal on
our part in accepting his resignation on that basis) he
confided that he has malignant cancer. After a stunned
silence and some tears and hugs, we thought it best he
didn't resign, but that we'd hold his spot in the club for
up to a year or so.
Has anyone done this before and what are the implications?
He won't be paying dues over that time, but would still be
on the mailing list etc.
Maybe its a no-brainer and that's it - but I just want to
check if there's a problem with that..
cheers
Mike
Laurie Frederiksen on
Dear Mike,
Thank you for asking this question here. Those of us
who are in clubs can relate to the fact that there is more to belonging
to a club than the business implications and there is more we receive from
being in clubs than the gain on our investments. You bring up a
difficult question but one that many of us that share something for many
years with a group of friends might face one day.
I personally think you should do what works for you
all. If you are all comfortable and would like him to
remain at the level he can participate at, I think that’s
fine. If some are uncomfortable with the business aspects of
that, it is certainly possible for him to withdraw his assets from the
club but still participate as a guest. The technical logistics of
either decision are something we are glad to help you work through.
As with all things that are difficult to comprehend,
I think it is fine to take some time for everyone to think about what
is happening before you all decide what is best for you.
I wish you all the best and I feel pretty comfortable that
when I say this, I am speaking for all of the rest of the people who
subscribe to this list.