2Frosty4U: You can't erase chat threads, I am owner and bought it myself and been trying to do this very thing. If you find a way to do this, I would love to know it??? Just like course building , I don't have the option
At least from PC, it's a bug if the owner can't edit or delete members' posts, see icon's message.
Concerning course building, an owner may try to give the permissions to one member group, e.g. Director, and look if this takes an effect on his opportunities. Earlier, this worked for the "Update Club Messages" option.