FHCAM closure

[Mark Allen M]

I don't know...I've been to the Louvre and didn't see a Mustang. Heck, not even a T-6.

Should have take a right instead of a left.

[JohnB]

The virus will be the excuse for a lot of marginal money makers (or should I say money losers) closing.
Locally, several restaurants are closing, most were on life support before being closed for 2 1/2 months.

In Oregon, a well-regarded auto museum that was making money is not reopening.

An acquaintance who has some knowledge of the Allen situation has said the Vulcan board gave the museums some time to become revenue neutral...which the FHCAM could not do because of the costs involved in their work. Let's face it, of all the Allen museums, FHCAM would have a uphill struggle given the huge costs compared to his other venues.

Now we wait for any sales.
Some now flying aircraft will likely be grounded if/when sold.
But on the bright side, the B-17 might finally fly under new ownership.

[hardlanding]

I'm frankly surprised that Allen hadn't prepared an endowment for FHCAM, given (a) his clear, honest love for the restoration & maintenance of these historic machines, (b) his knowledge of the financial needs of such an enterprise, and (c) the fact that he could easily have made such an endowment with almost no financial impact to himself. I'll never understand his not having created permanent plans for these efforts he put so much into.

I also don't understand the Vulcan board's actions in light of their presumable mission to sustain Allen's legacies.

[Mark Allen M]

I'm frankly surprised that Allen hadn't prepared an endowment for FHCAM, given (a) his clear, honest love for the restoration & maintenance of these historic machines, (b) his knowledge of the financial needs of such an enterprise, and (c) the fact that he could easily have made such an endowment with almost no financial impact to himself. I'll never understand his not having created permanent plans for these efforts he put so much into.

I also don't understand the Vulcan board's actions in light of their presumable mission to sustain Allen's legacies.

I'm thinking similar thoughts. Although we are still in speculation mode. I'm not sure there isn't more to this than what many are assuming they know.

[Kyleb]

I'm frankly surprised that Allen hadn't prepared an endowment for FHCAM, given (a) his clear, honest love for the restoration & maintenance of these historic machines, (b) his knowledge of the financial needs of such an enterprise, and (c) the fact that he could easily have made such an endowment with almost no financial impact to himself. I'll never understand his not having created permanent plans for these efforts he put so much into.

I also don't understand the Vulcan board's actions in light of their presumable mission to sustain Allen's legacies.

Agree 100%. Allen had enough money to run this thing for generations upon generations. Why he didn't set aside an endowment OR mandate that Vulcan continue the operation is a head scratcher.

[hurricane_yank]

I'm frankly surprised that Allen hadn't prepared an endowment for FHCAM, given (a) his clear, honest love for the restoration & maintenance of these historic machines, (b) his knowledge of the financial needs of such an enterprise, and (c) the fact that he could easily have made such an endowment with almost no financial impact to himself. I'll never understand his not having created permanent plans for these efforts he put so much into.

I also don't understand the Vulcan board's actions in light of their presumable mission to sustain Allen's legacies.

Agree 100%. Allen had enough money to run this thing for generations upon generations. Why he didn't set aside an endowment OR mandate that Vulcan continue the operation is a head scratcher.

Do we know that he didn't?

[DoraNineFan]

I'm frankly surprised that Allen hadn't prepared an endowment for FHCAM, given (a) his clear, honest love for the restoration & maintenance of these historic machines, (b) his knowledge of the financial needs of such an enterprise, and (c) the fact that he could easily have made such an endowment with almost no financial impact to himself. I'll never understand his not having created permanent plans for these efforts he put so much into.

I also don't understand the Vulcan board's actions in light of their presumable mission to sustain Allen's legacies.

Agree 100%. Allen had enough money to run this thing for generations upon generations. Why he didn't set aside an endowment OR mandate that Vulcan continue the operation is a head scratcher.

Do we know that he didn't?

Vulcan Group is a giant, after looking at their business entities. It seems like FHCAM is small change when you look at the portfolio. Paul Allen's love for aviation should have been a bigger consideration and I though he did ensure that the museum would be funded. But the bean counters might be consolidating too much. It would seem logical to roll the museums under the Sports/Entertainment portfolio that would keep them well funded after COVID is solved.

Vulcan's businesses include:

Vulcon Aerospace / Stratolaunch Systems -- now for sale for $400 million
Vulcan Real Estate -- residential, commercial and office development
Vulcan Capital -- multi-billion dollar market investment division
Vulcan Arts and Entertainment -- multiple museums and entertainment venues, closing in 2020
Vulcan Sports and Entertainment -- Seattle Seahawks, Portland Trailblazers, and several sport complexes
Vulcan Productions -- films and outreach programs

[Kyleb]

I'm frankly surprised that Allen hadn't prepared an endowment for FHCAM, given (a) his clear, honest love for the restoration & maintenance of these historic machines, (b) his knowledge of the financial needs of such an enterprise, and (c) the fact that he could easily have made such an endowment with almost no financial impact to himself. I'll never understand his not having created permanent plans for these efforts he put so much into.

I also don't understand the Vulcan board's actions in light of their presumable mission to sustain Allen's legacies.

Agree 100%. Allen had enough money to run this thing for generations upon generations. Why he didn't set aside an endowment OR mandate that Vulcan continue the operation is a head scratcher.

Do we know that he didn't?

I should have said "If he didn't...it would be a head scratcher."

[JohnB]

Another point...Allen knew he was very ill, which makes the apparent failure of him to provide long term funding for them all the more puzzling.

In the antique car world there was a broadly similar situation...the unexpected death of casino/hotel mogul William Harrah. His death led to the breakup of what was America's greatest car museum.
When his firm, including the collection, was sold to Holiday Inn Corp, huge auctions were held, but several of them more valuable cars were donated (as a tax or PR ploy) to a new non-profit entity, the Reno-based National Automobile Museum.

If the closure is permanent, we might see the family donate some of the aircraft to other entities. Some, likely to the Smithsonian (given their fondness for German types), but given the FHCAM interest in operating them, hopefully some might go to some organization that would fly, or at least run, them.

[k5083]

I feel like Vulcan should change its name to Romulan, if it keeps doing these evil things.

August

[Warbirdnerd]

First of the collection going on the market?
https://www.platinumfighters.com/f84andf9f

[JFS61]

First of the collection going on the market?
https://www.platinumfighters.com/f84andf9f

Littleton Collection, The Sequel.

[warbirdfinder]

Has anyone heard of other museums or collections closures? Or rumors?

[LysanderUK]

Looking at the F9F/F84 advert, would it not be a little bit odd to be accepting possible trades if the collection as a whole was due to be sold off?

[Tim Savage]

As far as I know those haven’t been owned by FHACM in many years...