Update JUNE 18 Election 2 DAYS

Update JUNE 18 Election 2 DAYS 

We finally received the Annual Financial Statement (months late) from WMK&G. WMK&G notes they rely upon information from previous accountants and the Management Co. Translation is they are not responsible for faulty/false information they were given. The missing money, missing information, unauthorized spending, etc. is not their fault. The jump in ‘Professional fees’ from $20,403 to $97,900 is not explained and needs explanation.

Who recommended WMK&G? How much are we paying them? How many other firms did we interview? Did we negotiate? Are we fools or simply naive?

VA has been Managed (I believe) since inception by VE (Vision Enterprises). That means Mesos and associates. VE has influenced and controlled the BOD (Board of Directors). VE and the BOD is riddled with conflicts of interest, self-serving decisions. VE (Mesos, etc.) control a bunch of shares and continues to control people on the BOD. I assume he (they) have very good reasons for starting to ‘walk away’. Hmmm!

The BOD obviously needs a lot of improvement.  

The job of the BOD is to act for the benefit of all Shareholders. They hire Management, Staff, authorize expenditures, sign checks, etc. Most important; they must be skeptical and suspicious.

The job of the BOD is to take full responsibility for their actions and inactions. Perusing personal vendettas, ‘wacko’ ideas, soliciting ‘kickbacks’ or personal advantage and/or agendas, etc. is 100% wrong. Being on the BOD is not a place for therapy, emotional or social gratification.  

The new BOD must stop giving away our money. Shareholders must be informed and our questions answered. The new assessment for ‘legal stuff’ is outrageous. Sublet/investor surcharges (24% of maintenance) are outrageous. Insulting, threatening and telling Shareholders, “None of your business”, Is bad, wrong, not acceptable and not healthy. We need much better.  

A good Management company will advise and guide the BOD. A good Management Company will supervise VA’s employees professional staff, porters, handymen, super, contractors, etc. They all work for Shareholders. We don’t work for them. Pandering to employees is silly and counterproductive.

Do you know much a 32BJ employee costs VA each year? (More than the income of some Shareholders). 

Like Greece, Spain and other ‘basket cases’, we apparently spend a lot more money than we take in. The EU, US Treasury or any bank with a ‘brain’ will not lend to us. At some point, we will be ‘kaput’. We must reduce spending. We must become financially responsible. I have been informed (I hate rumors) some ‘insiders’ (BOD members and ‘concerned Shareholders) are trying to sell their apartments. Mesos is not a ‘dummy’.  The BOD will be left ‘holding the bag’.

Hopefully, our new Management Company will do a good job and help produce a better BOD.

Who should you vote for?

Albert Einstein: 'Insanity is doing the same thing, over and over again, but expecting different results.'

Obviously we need improvement. 

Shareholders Committee and BLOG.

VA needs a Shareholder’s Committee to monitor what is happening, inform and protect Shareholders and to analyze, audit and monitor the BOD and Management.

The same people will maintain vasc11362@aol.com and our BLOG.

I will help, but I need help. Please contact me. Joel 

Important! Re-read past comments (Shareholder input).

Repeat: Shareholders Committee and BLOG.

VA needs a Shareholder’s Committee to monitor what is happening, inform and protect Shareholders and to analyze, audit and monitor the BOD and Management.

The same people will maintain vasc11362@aol.com and our BLOG.

I will help, but I need help. Please contact me. Joel

Please help save our homes and investments. Please help make Valerie Arms a better place.