Shareholders elect a
BOD. The BOD is supposed to act for and protect Shareholders. When ‘bad’ things
happen, Shareholders must act. If Shareholders don’t act, they are fools.
Bad things are
happening at VA. Our financial circumstances are not clear at best. The recent
Annual Statement is a joke. It appears money is missing. The BOD and/or Vision
refuse to provide information and answer our questions. Or perhaps they don’t
know and don’t care.
We are paying for
‘legal fees’ that seem to be personal costs and to protect Vision Enterprises
(Peter Mesos.) We are paying other costs and
expenses without requested explanation and/or authorization or consent.
Not all Shareholders
pay the same amount.
What? Some pay less??? Yes!
What? Some pay less??? Yes!
RE Taxes, utilities,
water, union, union pension, etc. costs are increasing sharply. I am told we
need roof repair/replacement. We face huge expenses to comply with local law
#11. Our financial condition is disastrous (my opinion). Assessment,
surcharges, etc. only partially disguise the problems we face. There are other
outrageous fees, surcharges, expenditures, rules, regulations, etc. Attempts to
get information about what is happening to our money were met with, “None of
your business”. (A more polite way of saying,”GFY”.)
From Shareholders: There
is no outcry for action. Most Shareholders
don’t appear to care or have any interest. Most Shareholders seem to be placid
and ‘sheep like’. (Ideal victims.)
*Note: The prior
payments were made by instruction of the BOD and Vision Enterprises. Current
payments are paid (?) by the current Management Company. The lawyer, BOD and
both management companies are ‘bound’ by ‘fiduciary responsibilities’. The
problem is the BOD hires the employees (Lawyers, Management, etc.).
The blog is to
provide a forum, information center, Shareholder newsletter and act as an
advocate for Shareholders. The Shareholders committee (VASC) should review what
Management, the BOD, employees, etc. are doing.
Economic crime
involving Co-ops now exceeds one billion in NYS. And it is growing rapidly
because Co-op Shareholders are ideal victims. The Queens DA Office informed me economic
crimes involving Co-op/Condo Property Managers, Lawyers, service providers,
vendors, etc. will be ‘handled’ and coordinated by the NYS Attorney General.
“If you see or
suspect something wrong, report it.” The
refusal of the BOD to provide requested information makes many believe very ‘bad
stuff’ is happening.There are laws to
protect Shareholders. Sadly, there are no laws against Shareholder stupidity.
Attached is a letter
to request information. Please write a similar letter and e-mail requests for
information. We need records. If we suspect ‘wrongdoing’ or attempts to hide
‘bad stuff’, the NYSAG needs records.
Attn: Jill
Schachter August 13, 2012
54-44 Little Neck
Pkwy Little Neck, NY 11362
To: President and
Members of the Board of Directors, Valerie Arms.
I am a Shareholder. I
wish to see and review the following;
The Minutes of Board
of Directors Meetings for the past 14 months (JUN 2011-AUG 2012).
Contracts and
agreements currently in force.
Invoices, bills and disbursements relating to
Assessment #2 and/or Adam Bailey (aka Super Lawyer).
Invoices, bills and
disbursement relating to use or payments to others for ‘professional services’.
To MGRE ... It will be appropriate and professional if all the
requested documents and records are digitally recorded and can be delivered via
e-mail.
My name and contact
info. A copy was sent to
Scott Soifer (MGRE).
Do something! Vasc11362@aol.com
