charge. What a great job!
* State Sen. John Campbell's plan to have all the money derived
from Crystal Cove go into its maintenance is prudent, but the state's
desire for a 12% return on profits earned through rentals or stores
is a bad joke that will earn the state little or no money. A
percentage of the profits is a sucker contract. Profits are realized
only after expenses are deducted.
The bookkeeper of any successful business can show expenses that
equal or exceed income, because the business must pay taxes on
profits. Most would rather plow that money back into the business
rather than give it to the government. On the other hand, even
deriving 100% of the income and being run by a not-for-profit group
can prove dicey. Some nonprofit organizations have exorbitant
salaries and expense accounts that eat up money sorely needed for
If the state were to demand 12% of the gross income, it would earn
considerably more than it would derive from 12% of the profits. But
even 100% of generated money would need to be carefully monitored to
No matter who runs the cove, access to the cottages will be prey
to some favoritism. But if the records are kept open to public
scrutiny and the public shows an active interest, shenanigans can be
kept to a minimum.
What a great place to spend a weekend.
* ALAN REMINGTON is a Costa Mesa resident.