ent001500-036

Page 12, CEDRIC OLSOMi What I wanted to say was this; I think the formula you?╟╓re talking about now Al, was the one that was to go into effect of Sept. 1st of this year. AL FREEMAN* No it wasn?╟╓t to go into effect* Practically all of us agreed that we would try to get it into effect in order {wasn?╟╓t it Sept. 1st of this year?) this is CEDRIC QLSQN) .. (wasn* when the budget for this year was predicated on Sept. 1st activation and I was instructed by this Committee to draft letters? as a matter of fact, the letters were drafted and then submitted to this Committee for approval and the formula that you have in front of you was sent /Pfcp each of the publicity directors at your request and that you were I 4b deliver to each of the Publicity Directors at your request and that you were to deliver these in hand to your owners that thiswtss the best way to get the thing to them* ^8 L FREEMAN* That?╟╓s .right* | ^CS^RIC OLSON* Now, in the allocation of these funds, I don?╟╓t know whether Keith made it clear, but the allocation of Livewire funds has been nanneied into a separate account for year and one half? this was ictivated a year ago last July, but as of this year we even set up a Wjjeparate bank account, before that, we had a separate fund, bookkeeping- ^neise, now it is in a separate bank account with different checks, even different colored checks which the payroll is made out to the News Bureau and all payments made on accounts payable is made with separate checks in order that there could be no misunderstanding as p this fund that comes into the Livewire money that comes in. Lee has said this many times before, I have heard him before, and I cer- tainly concur that the hotels should have kept current with the growth of their hotel based on the formula, but all I can say is..,. FREEMAN* Why should they? * ?╓¬ * * ...this was a formula developed three years ago, AL FREEMAN* It wasn?╟╓t part of the agreement. Herb McDonald and I Jwere, and Gene Murphy were in there with the owners? it wasn?╟╓t part of the agreement...... ......talking about before this Al, 1 suppose logically you could say that if a hotel puts on 20 rooms then you should bill him $20 more a month according to the formula. AL FREfcMAN* That?╟╓s not the way it was to tie done. If we had money to spend, if we had an &dea, to spend it on, then we were to raise it this way, CEDRIC OLSON?? That?╟╓s correct, The building of a hotel and building new rooms ?╟÷ you were not to be punished for it. We?╟╓re talking about the deficiency in collection of the money. AL FREEMAN* There is no deficiency by anybody *?√ß** there is no neglibence by anybody.