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Big Al, your reply about the owners who want to get rid of our longtime board VP is that "12 years is too long" and it's "time for a change, let it go" -- ?
So, he shouldn't run again and we shouldn't care if a slate of three owners who know nothing about coops and only want to serve self interests take majority control of the board? That is change but it's not the kind of change I'm willing to sit by for and accept.
If someone in your company is doing a good job, likes what he does, works well with everyone and still has a lot to offer but he's been there 12 years, should he quit or be fired - especially if he's replaced by inexperienced, inept people who aren't looking out for anyone but themselves?
If a board member is voted out because a majority honestly feels change might be good or someone else looks promising but there are only so many positions and someone has to go, so be it. I'm all for new people who may improve the system and add value to a board - but one or two at a time. They shouldn't be allowed to come in and run everything from day one. No responsible corporation would do that.
Change means different but it doesn't always mean as good as, or better, than what you had. You of course don't know that until it's tried out. But sorry, Big Al, I don't think change is good just for the sake of change.
Big Al - I personally am not threatened by the new people, but they've told the board and managing agent what some of their plans are. They also said they don't want to disclose the plans to all the owners yet, and if we do they'll deny it and make it sound like the board are "poor losers" and are lying because they're afraid they'll get voted out. As I said previously, they are close (two are cousins)- and in case you're thinking they may be just "kidding", no they aren't. They're dead serious.
Example: We renovated our lobby in July '05, cost $65-$70K. Decor is traditional. It was well-done, blends nicely with the rest of the bldg, is comfortable. Brokers and visitors comment on how nice it is. This group doesn't like it and wants modern or Art Deco. They aren't even board members and they already brought in two designers and got design plans from them on spec + rought estimates. The lower one is $110K. OK, not everyone likes the same thing, but we've gotten no negative comments from anyone about the lobby.
So we should let this group take control of the board and uselessly spend $110K of coop money that we need for other important projects? That's just one example.
BTW, the coop sponsor who still holds 20-25% of the shares told our attorney this group has been "pitching" him and he's thinking about giving one of them his proxy. So, what do we do now?
thye sound like they only have their own agenda's at heart. is your lobby nice or ugly - you really have to ask youself. maybe it does need help. no - nobody agrees all the time tastewise - but there is good tast and bad taste. there really is. if this is their primary agenda, and the lobby is really nice as is, then you should be concerned.
sponsor's donot like money being spent. indicate that will happen .
Big Al: I appreciate what you're saying, but the new lobby isn't even 2 years old. We've had no complaints and we do get compliments. We have a lovely marble floor. A few nicks were filled, the floor was cleaned/polished, and the lobby was designed around it tastefully in complementary colors.
Redoing the lobby is this group's primary agenda. It's one piece of it. I can give you other examples of their "plans" that border on ridiculous. OK, one. Rip out the sidewalk in front of the bldg (that we totally repaved last Sept) and replace it with beige-color PORCELAIN tile.
We'll try telling the sponsor what this group wants to do, but they say if we tell anyone they'll deny it. The sponsor always votes for the VP that the group is trying to get rid of. I think he should lead the board in this revelation to the sponsor and hopefully he'll be believed.
Typo in my last reply to Big Al. I meant to say that the lobby IS NOT the group's primary agenda.
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you seem threatened by the new people. how can you be sure their agenda is so awful for the building?
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