PRESIDENTIAL PERSPECTIVE A Strong 2021 for ALOA new upcoming leaders of ALOA. Along those lines, if you have not listened to ALOA’s new podcast, Locksmith Talk With ALOA, please give it a listen. Episode 12 is a “presidential debate” with Noel Flynn and Bill Mandlebaum. May also brings us another month clos- I er to the convention! This year’s conven- tion is July 25-31 in Orlando, FL. Mark your calendars and plan to attend! Aſter being shut in for the last year or so, it will be nice to get away and see some of our friends and colleagues, get some educa- tion, see some new products and enjoy some sun! I really hope to see you there. Spring Board Meeting and Headquarters Sale On May 15 and May 22, the ALOA board will be having the spring board meeting via Zoom. Among the many items to be discussed is the recent sale of the ALOA headquarters, which I would like to take the time to update you all about now. As you know, the sale of our Easy Street properties has been completed, proceeds have been deposited in ALOA’s bank account, and we have leased and occupied a 5,000-square-foot building located about one mile from the Love Field airport in Dallas. This prompt sale avoids any further potential exposure to WWW.ALOA.ORG t looks like spring has finally sprung! As we enter the month of May, ALOA elections are kicking off. Make sure you take the time to vote for your significant ongoing expense associated with the ground-stabilization issues of the Easy Street properties. These issues are characteristic of that area because of its location on a dry riverbed. Most of the new space is warehouse, and there is much work to be done to get organized at the leased building. Al- though not ideal, we can function in this short-term space with little problem. Once we get set up properly, prepara- tion will begin for the much-anticipated convention. The occupancy cost of the leased property is comparable to Easy Street. This means that we do not antici- pate having to erode proceeds from the Easy Street sale to pay for materially in- cremental occupancy expenses. The sale has provided additional cash reserves in the event they are needed for working capital. But it’s our plan to con- serve sufficient cash from the sale pro- ceeds to ultimately fund the purchase of a suitable replacement headquarters prop- erty further outside the city where taxes and operating expenses are expected to be lower. Leasing the temporary space provides an opportunity to assess our post-pandemic environment and any rel- evant implications that may influence our longer-term space requirements. Looking to the Future The pandemic continues to cast a shadow of uncertainty over our world, and this frustrates our ability to plan property. However, at this juncture, we are optimistic and anticipate being able to hold the 2021 Convention & Security in Orlando at the end of July. I am pleased to report that we have received government forgiveness for our PPP loan from 2020. We have also applied for a second forgivable loan in 2021. These two infusions, coupled with the proceeds from sale of Easy Street, place ALOA in a strong cash position. It is also my plea- sure to report that membership renewals for 2021 are robust and very encouraging. In conclusion, with significant portions of the U.S. and world populations being vaccinated and COVID-19 restrictions generally continuing to move toward greater relaxation, we are seeing light at the end of the tunnel. However, we will need to be somewhat patient, since our world will return to its new normal at a pace that may be slower than we would prefer. Better days are ahead! Jim Wiedman, CML President ALOA Security Professionals Association, Inc. [email protected] MAY 2021 KEYNOTES 5
