Friday 7 May 2010

MONEY GO ROUND


"...a mark a yen a buck or a pound.."

There are over 50 foundations in New Zealand called 'charity' trusts that get their money from gambling machines in pubs and clubs and 'distribute' it to the community. The business is nearly 1 billion dollars a year. Only one third of this goes back to the community. The rest is soaked up in 'administration' costs. An example of the 'administrative' costs is the $430,000 over 3 years paid by a South Island trust to someone to  sign up gambling machines run by their competitors - other trusts- to go to their trust. Dumb? yes, very.
Its a pity that the deadbeats that pour money into these machines cannot just give it directly to the community foundations that are trying to make their lives better. Cut out the middleman.

3 comments:

Anonymous said...

Looks like a job for Rotary Man.
Bin Hire

Anonymous said...

Start your own cassino and give all the the the proceeds to the the the charity.

the the the guy

THE CURMUDGEON said...

Cassino was a disater and a tragedy. My dad neraly got killed there. Why would I want to start another one?