QUARTERLY MEETING JANUARY 11, 1009

THE MOHEGAN TRIBE WILL MEET AT 12:30 P.M. ON SUNDAY, JANUARY 11, 2009. THE MEETING HAD ORIGINALLY BEEN PUT IN THE WUSKUSO FOR SUNDAY, JANUARY 18, 2009. THE MEETING WILL BE IN THE CONVENTION CENTER, SALON D, AT THE MOHEGAN SUN CASINO, IN UNCASVILLE, CONNECTICUT.

TRIBAL MEMBERS ARE ASKING WHAT THE MEETING IS ABOUT. WHY WAS IT MOVED UP? THERE IS SPECULATION THAT THE MEETING IS ABOUT CUTTING THE CHILDREN'S TRUST FUND, OR TAKING AWAY TICKET MONEY THAT TRIBAL MEMBERS GET. WHO KNOWS?

IN MY OPINION, WHAT IS KNOWN, IS THAT THIS PRESENT TRIBAL COUNCIL IS RESPONSIBLE FOR THIS MESS. COULD IT BE THAT THEY (THE TRIBAL COUNCIL) CAUSED IT TO HAPPEN, BY THEIR INCOMPETENCE?

HERE ARE THE FACTS.

THE TRIBAL COUNCIL WILL PROBABLY TRY TO BLAME THE ECONOMIC CONDITIONS OF THE MOHEGAN TRIBE ON THE ECONOMY. DON'T BE MISLED.

ON THE PRESENT TRIBAL COUNCIL, SEVEN (7) MEMBERS VOTED TO EXPAND THE MOHEGAN SUN AT POCONO DOWNS AT A COST OF --------------MILLION. THE TWO TRIBAL COUNCILORS WHO DIDN'T VOTE FOR THE EXPANSION, WERE MARK HAMILTON WHO VOTED AGAINST IT AND THAYNE HUTCHINS WHO WAS NOT ON THE TRIBAL COUNCIL AT THE TIME.

BEFORE THE NEW FACILITY AT POCONO DOWNS THE EBIDTA WAS $30 MILLION (FOR FISCAL YEAR 2007). AFTER THE EXPANSION THE EBIDTA WAS $29 MILLION. EVIDTA IS THE NET PROFIT BEFORE TAXES AND DEPRECIATION . THE DEPRECIATION FOR THE FISCAL YEAR 2008 WAS $15 MILLION. THAT LEAVES $14 MILLION TO PAY THE INTEREST ON LOANS AND BONDS TOTALLING BETWEEN $550 MILLION AND $625 MILLION. THE INTEREST RATE IS SOMEWHERE BETWEEN AN ESTIMATED $33 MILLION AND $50 MILLION.

BROKENWING EDITORIALS, HAS SEEN NO PROOF, THAT THE TRIBAL COUNCIL DID ANYTHING TO CHANGE OUR CREDIT RATING. THEY DID NOT TRY TO TURN IT AROUND, INSTEAD THEY TRIED TO DO A $925 MILLION EXPANSION CALLED PROJECT HORIZON. THE TRIBAL COUNCIL SAID THAT IT WAS ORIGINALLY GOING TO COST $740 MILLION. WHAT HAPPENED? THE TRIBAL COUNCIL BLAMED THE ESTIMATE ON THE CONSTRUCTION PLANNERS GIVING THEM BAD NUMBERS.

I REPEAT BROKENWING EDITORIALS, HAS SEEN NO PROOF, THAT THE TRIBAL COUNCIL DID ANYTHING TO CHANGE THE TRIBES CURRENT CREDIT RATINGS. THE MOHEGAN TRIBAL GAMING AUTHORITY HAS A BAD CREDIT RATING. STANDARD AND POOR'S RATES US A B- AND MOODY'S RATES US (THE MTGA) A BBB-.

THERE IS NO PROOF, THAT THE TRIBAL COUNCIL HAD ANY PLAN FOR THE $330 MILLION IN BONDS THAT ARE DUE TO BE PAID OFF IN 2009. THE MONEY IS NOT THERE. THE TRIBAL COUNCIL DID NOT ENDEAVOR TO PAY IT OFF. INSTEAD, IT LOOKS LIKE THEY FIGURED THEY WOULD REFINANCE (FLOAT NEW BONDS) AT AN EVEN HIGHER INTEREST RATE. THE TRIBAL COUNCIL EVIDENTLY DOES NOT BELIEVE IN PAYING ANYTHING OFF.

THE TRIBAL COUNCIL, VOTED EIGHT (8) TO ONE (1) TO BUILD THE GOVERNMENT COMMUNITY CENTER. THE PERSON WHO VOTED AGAINST IT WAS MARK HAMILTON. THE TRIBAL COUNCIL DOUBLED OUR (THE TRIBAL GOVERNMENT)DEBT FROM AN ESTIMATED $102 MILLION TO OVER AN ESTIMATED $200 MILLION. IN THE END IT WILL PROBABLY COST THE MOHEGAN TRIBE $100 MILLION. WHEN DOES THE MOHEGAN GOVERNMENT EVER BUILD ANYTHING ON TIME OR BUDGET? NOT NORMALLY..

WHATEVER, THE TRIBAL COUNCIL IS GOING TO ANNOUNCE IS NOT THE POINT. THE POINT IS THAT THIS MESS, IS THE FAULT OF THE PRESENT MOHEGAN TRIBAL COUNCIL. NOT PAST TRIBAL COUNCILS, BUT THIS ONE. IT HAS LITTLE OR NOTHING TO DO WITH THE ECONOMY.

BEFORE THE TRIBAL COUNCIL ASKS (MAKES) THE MEMBERSHIP SACRIFICE, THEY SHOULD DO THE DIFFICULT THINGS THAT NEED TO BE DONE. THEY NEED TO LOOK AT REDUCING THE SIZE OF GOVERNMENT, BECOME MORE EFFICIENT, AND CONSIDER MAKING SACRIFICES ON THEMSELVES. HOW ABOUT A $50 THOUSAND TO $100 THOUSAND PAY CUT? HOW ABOUT THEY ( THE TRIBAL COUNCIL) DO AWAY WITH THEIR CREDIT CARDS, AND THEIR TICKETS TO SHOWS AT THE MOHEGAN SUN? WHAT DO YOU THINK?

THE WEATHER IN UNCASVILLE, CONNECTICUT, AT THE MOMENT, IS IT IS STILL SNOWING. THE MEETING IS STILL SCHEDULED FOR 12:30 P.M..