Meetings and Elections
There is one word for this Coops annual meetings- A Joke.
1- The notice of the meeting does not tell you which incumbents are running.
2- The annual report is circulated 3 days before the meeting so you don't have time to study it and ask detailed questions.
3- The structure of the meeting is such that you vote before you can ask candidates how they feel about issues.
4- There is no 'meet the candidate night so you are voting blindly.
5- It seems that Mr. Greher circulated the 'do not vote for Rich Price and C. Spitzer' because they do not agree with his desire to sell parking spots.
6- Mr. Greher's daughter sold 3 apartments to a B. Singer-a long time slum-lord and friend and synagogue partner.
7- Current and past board members have self-delt and enriched them selves at our expense.
8- Richard Kenny, a friend of Grehers, moved to ER two years ago and already has a few apartments and a parking space.
There is more to come if anyone is iterested.
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Meeting and Election
I agree with some of your statements - first few and the joke is on us for allowing this to happen. I attended my first meeting and was embarassed by the petty behavior of my neighbors.
The gig is up. We are going to have to raise the carrying charges and the parking charges due to escalation of fuel, insurance, labor costs - etc. I walked away from the meeting without a concrete plan on what our board is going to do. The Board needs to make some hard choices to put the coop on sound footings.
I wonder what the reaction is going to be of any buyer or potential buyer when their accountant and lawyer reviews our current financials.
I give credit to the members of the board that are willing to run and volunteer there time. I believe going foward we need to have a more professional meeting with a town hall meeting prior to the annual meeting to discuss the major issues and to meet the candidates.
As shareholders, we must take steps to protect ourselves, get along and respect each other.
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