RE: Soliciting Ideas to Help Improve Our Financial Standing

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Congrats on the nice promotion!

These days, I wonder if you asked your question to an AI, which seems to be the current hot thing to do! ChatGPT at https://chat.openai.com/chat might at least give you some ideas. And since it's a chat, you can ask it further questions about its answer, to clarify and expand on things.

My suggestion might seem strange if you're not up on the lastest AI news, but look at this article:

https://www.msn.com/en-us/money/careersandeducation/chatgpt-just-passed-an-mba-level-exam-at-wharton/ar-AA16GNe5

Terwiesch proctored a final exam from a Master of Business Administration course for the chatbot, he found that ChatGPT passed.

hive-167922
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Wow! Great response from chatgpt. I restated my question: what financial advice can you give to a school that is asset rich but cash poor?

And here is the reply:

A school that is asset rich but cash poor can consider several options to improve its financial situation. Some options include:

  • Renting out unused facilities or equipment to generate additional income

  • Selling non-essential assets to raise cash

  • Taking out a loan using the school's assets as collateral

  • Seeking out grants or funding opportunities to support operations

  • Implementing cost-saving measures, such as energy efficiency upgrades or consolidating operations

  • Creating a reserve fund using some assets to have a safety net for unexpected expense or emergencies.

It is important to consult with a financial advisor or accountant to determine the best course of action for the specific school's situation.

I love number two. That's an old idea that I missed. I love to see that I hit number 3.

Thanks again for calling my attention to chatgpt.

!PIZZA

!CTP

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Seems like 6 decent answers from the AI algorithm. Each has it's own risks and rewards, and like it said, you can consult with financial professionals to research deeper. But I think it gave you some good basic ideas! :)

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Yeah, great! That's part of the plan, to consult professionals, an accountant and a corporate financial analyst/planner.

!BBH

!CTP

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