Thanks for the thoughtful response, Dustin.
I agree that there are a number of ways to "skin the cat".
When I say "clean house", which was unclear, I mean dealing with the known issues.....and there ARE known issues. Decisively. As was done with the Treasurer position in the last meeting. Hopefully, other issues were dealt with, but that has not been disclosed.
I guess, being predominantly a numbers man, I focus on what seems to me to be an urgent situation.
In 2010, through Dec 31, the MC ran a loss of $857,884.
Also, as of that date, there was $646,686 cash.
Assuming that the "run rate" of loss has not changed (my best understanding that it has INCREASED, but lets say it is the same, I haven't seen the numbers, myself) That means that the MC will run out of cash in 9 months from Dec 31, 2010.
That would be Oct 1, 2011. However, 4 months have already passed. So that leaves 5 months, 4 really, as it is the 15th. Then they have to sell property/equip to pay bills. Even that only buys a few months, at best (but Irma will have no piano, and there will be no cash registers to collect money)
Usually, one would want to undertake an intervention, then see how it works. I'm not sure there is time for that.
I really like the idea of interviewing the employees. Let's say there are 100 (I'm guessing more). At the rate of 1/2 hour apiece, 14 a day (everyone needs a break, and lunch), that is 7 days to complete. The problem is, who does this? Presumably, the people running the Castle are not the ones you'd want, since they may be the problem, and no employee is going to finger them. The Board people all have outside lives.....plus, you need someone who actually has the skills to ask the right questions, and who the employees will talk to. A consultant? I see this as a time intensive process (and expensive).
I agree that kneejerk reactions are often fruitless, however, decisive actions in crises should not be that. As I think about it, I like the idea of a Marine Colonel involved. I don't know what he will do, but it sure won't be to sit around.