350 Schemerhorn, Brooklyn is the prospective new location that will house the Local 100. We have heard the description of the property which will be two buildings and a parking lot. We were informed that the property will require an extensive renovation and that those renovations may take more than a year or two. Also that the property has tenants and rent will offset the mortgage payments. Lastly that there is prospect of developing the parking lot into a commercial entity. Those tasks are not a joke they will require a lot of attention, energy and resources. We remind Samuelsen that he should not lose sight of what is important and dear to the membership and that is the contract of 2012.
It is obvious 350 Schemerhorn will have twists and turns which may be unpleasant unlike the portrayal of huge returns with an easy road. Let's face the simple reality that those who have believed in the easy road have been disappointed and we cannot predict the future. If we have reasonable expectations we will know that even some people who have had long term investments almost got zero profit. We may have no idea of the risk, hidden cost, and cost overrun. A cost overrun also known as a cost increase or budget overrun, is an unexpected cost incurred in excess of a budgeted amount, cost escalation, which is used to express an anticipated growth in a budgeted cost due to factors such as inflation. Cost overrun has plagued building projects and has created issues that require a lot of work.
Portrayal of the huge return may be completely off thus we have to take rational steps and we need not run behind the dreams of glory. If we look back at the Local 100 properties history they have been bought and sold for one reason or the other whether justified or not. One thing we know for a fact is that it has left a sour taste among the membership. Our energy should be focused primarily towards the contract of 2012 since it will be a glory for the rank and file.
For arguments sake let's assume we have got the best property but a lousy contract of 2012. We need not lose sight of what is important to the livelihood of the membership which is the contract of 2012. We caution Samuelsen that there is too much at stake and we would like to remind him not to let the property issue be more important or rank above the contract of 2012. It is known that 'No man can serve two masters: for either he will hate the one, and love the other' that would be a powder keg among the membership and would add fuel to the flames of infighting which means we all lose. We don't want to lose sight of the contract.
