Government green means less red for private club

The 2010 Winter Olympic and Paralympic Games seem to have done wonders for the Terminal City Club's bottom-line. Last year, we exclusively reported the provincial government would be spending a maximum of $650,000 to host business leaders and foreign dignitaries at that private business club during the Games. And now, as one of our commenters noted last week, the club's president Sid Fattedad, is reporting its "financial condition took a decided turn for the better with the results for the first five months (of 2010) to the end of February."

"Significantly better than expected volumes of business in the Pub and in functions during the Olympics contributed for the most part to the favourable variance. Compared to the same period last year, the club's operating loss of $203,000 was $509,000 lower than the loss of $712,000 last year," Mr. Fattedad stated in the facility's April newsletter.

Fancy that!

2 Comments

Glad the taxpayers of BC could help. I'm sure those people that are lining up at the Food Bank on a regular basis are thrilled.

One question that should be answered is, if the Terminal Club is losing money faster than a drunk at a casino, how do they remain in business?

My thoughts exactly! How can a "club" that looses that kind of money, year after year, keep its doors open?

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