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Kerry

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Reply with quote  #1 
When will the next financial update for the Servus place Starbucks be available?

Curious to see how it has done this far in now.  [wave]

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KJ

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Reply with quote  #2 
Seriously? I'm curious too, but I also don't think the financial reports tell the whole story.
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Kerry

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Reply with quote  #3 
Really? What would tell the whole story in your opinion if not the financial reports? [confused]
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KJ

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Reply with quote  #4 
The person creating the reports could tell you the whole story. The report itself is going to have 3 layers of BS in it.
1. The financials of city owned $tarbucks. Detail entries only where "they" want and general entries possibly hiding details you would like to know.
2. The financials for $ervus place. Some items that you might think should be partially or fully against $tarbucks could in fact be here, detail or otherwise.
3. The financials for the city itself. Again some items could be here that you would expect to be associated the $tarbucks directly, partially or otherwise.

The financials are for the city. You can move items around as you see fit as long as the city balances. What is associated with $ervus and $tarbucks is a matter of interpretation and accounting practices for best use of laws (tax, govt grants, etc).

In the end you are reading a financial report that tells you what "they" want you to hear. Been there done that. Nothing illegal, maybe illogical, definitely perception.
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Reply with quote  #5 
When I was COO of Bowes Publishers Limited, a division of Sun Media with 165 Canadian papers, printing plants and magazines with sales of $400 million plus, I once asked our CFO to explain an EBITDA (earnings before interest, taxes, depreciation, and amortization) report to me. I asked him to tell me what those numbers are really saying. His reply was, "I see, you don't like them. What do you want them to say?"

The city reminds me of that accountant in that way. Rather than answer a direct question, use smoke and mirrors to tell the board what we wanted them to know and no more.
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Kerry

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Reply with quote  #6 
And here I thought people were honest.   They would have to submit a report to Starbucks and I highly doubt they would try to BS that company since they'd be called out on it.  

So conspiracy theories aside, will be curious to see how much their Gross revenue has increased (can't fudge that - simple sales data from one year to the next)

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Reply with quote  #7 
Sure you can fudge that, especially when you do not include the $80,000 per year, (a 10 year long agreement) paid to Skybox Grill for vacating their premises to make way for the the city owned outlet. As a matter of fact, it's not fudging, it's downright lying to taxpayers in my opinion.
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Kerry

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Reply with quote  #8 
Sorry, that response made no sense at all. 

Revenue from coffee sales from one year to the next has zero to do with what you said.

Stay on topic.

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Swallow1

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Reply with quote  #9 
As the saying goes "Figures Lie - Liars Figure", so anything's possible.
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