The Impact Of Covid-19

It is not an exaggeration to state the global impact of the Coronavirus could prove to be similar in magnitude to a world war or an accidental explosion of a nuclear bomb, the results of which will affect everyone, including our City Club community.

Similar to Pearl Harbor and the 9/11 attacks, we continue to remain in the fog of war trying to figure out what hit us and assess what the real damage is. While some believe we will be back to normal soon, others believe the number of lives lost to starvation, suicide, mental and other untreated illnesses may exceed the number of lives lost to the virus itself. In short, the Black Swan event we were anticipating is proving to be the global economic shut down, not the Coronavirus.

Hoping for the best and planning for the worst, don’t count us in the V or the U economic camps, since we believe and are prepared for a W, if not a rollercoaster of many Ws before we see the next new normal, which we trust will be a bright future. Meanwhile, I want to report that in April we had a few members resign, and many chose to take a sabbatical until the Governor’s Stay at Home order is lifted and/or they feel safe to return to work. 

These numbers represent ~22% of our gross income, which sounds bad, until we realize many of our competitors have lost 100% of their income and may not have the resources to re-open. However, we did apply for and received our share of PPP to cover some of these losses.

Although we have quadrupled the size of our club since our inception in 2005, we have never had a special assessment, and we are not going to start now. But while we are grandfathering our monthly dues for current members as a sign of our appreciation for your loyalty, we are increasing our prices effective May 1st to $150 per month for Social members and $500 per month for Business members. 

We  appreciate that Capitalism is a jungle ensuring the survival of the fittest. As hard as the times are, we are certain that thanks to our conservative approach throughout the years, we are going to survive and thrive. 

Thank you for your continued moral and financial support of our community.