June 8th Problems + more letters + why ???

BOD members (not Jill) reported, MGRE selected as new Property Manager. I spoke with them (James Goldfink) on several occasions, relating to a different co-op. They told me they were under ‘consideration’.  I know nothing bad about MGRE. Hopefully they will be OK.  

I hope our BOD did the necessary ‘due diligence’ before committing VA. Due diligence includes items from a previous blog. (See following) Re: PM (Property Manager) Questions: What is their name? What are their qualifications, if any? Was a background, criminal and credit check done? What will new PM do? Do they have ‘real’ references? Did you visit other co-ops they manage? How many co-ops do they manage? How much did you agree to pay them? Are there costs not covered in the contract? What are the extra costs? Where is the contract? How many other co-op Property Managers did you investigate? Who recommended this company? More …       

 We should visit their website …   http://www.mgre.com  Ask questions. 

Problems! We have problems! Problems include the fact that we still don’t have the long overdue financial reports. I/we fear we have significant financial problems that have been ‘hidden’ by assessments, absurd sublet surcharges, bad or no reporting .....

I  became unhappy (and involved) when I received endless conflicting letters about assessments, legal fees, etc. I tried to contact Jill Schachter and Marc Ullman to get explanations and information. From Marc, I got a lot information, explanations, etc. From Jill I was initially ignored, then, insults, diatribes against Shareholders double talk and “NONE OF YOUR BUSINESS”. 

This is one of the reasons we need people with financial knowledge and business experience on the BOD. Also  ... GOOD MANNERS is important.

Elections coming:  I am unhappy about our economy, Iraq, Afghanistan and Iraq plus Greece, Valerie Arms and most of the world. Also I worry about our politicians, Social Security and Valerie Arms. I/we can’t do much about Greece, but maybe we can prevent Valerie Arms from going KAPUT. The irresponsible and unauthorized spending must stop. 

Monthly, the BOD takes Shareholder money (assessments) to pay ‘legal (?) costs. They (Jill + BOD) refuse to provide information and do it without my/our permission. Is that legal? 

And endless letters, accusations, diatribes, etc. continue and continue. And we pay for some of it without our permission. 

Letter dated 5/30/12: Shareholders received a letter from Maggie. Maggie accuses Marc of endless  ‘bad stuff’ and implies he may be responsible for ???? Maggie revokes what she said to Marc and/or Jill or both or didn’t say (we get confused). She states the BOD (?) or Jill hosted social events. In addition they bought ‘vanities’ for the staff and gym, hired an attorney who hired a forensic accountant and we don’t know who or what else. Also, according to Maggie, Jill is a  (#1)‘financial planner’ and ‘negotiator’ in addition to being a ‘merchandiser’ and whatever else she does at Macy’s.

Maggie further wrote, “I asked forgiveness, and I have been forgiven  … “ “We are a team”.

*Note – Alexander Pope … "To err is human; to forgive is divine."  

*Note – Is this like confession with absolution?

*Note – Can we all be forgive for our sins and transgressions?

*Note – Do Bush and Obama and Romney and Assad and Zimmerman know about this? 

I would guess Maggie doesn’t like Marc and his ‘friends’ and Shareholders and me and possibly you. Why is she telling us this stuff?  

Why do people want to be on the BOD?  Potential reasons …

1-Help others and share responsibilities.

2-Fix stuff that needs fixing.

3-Promote ‘good’ ideas.

4-Share ‘expertise’.

5-Make friends.

6-Be important.

7-Gain ‘power’ over others.

8-‘Reward’ friends and punish others.

9- Get ‘kick-backs’ and make money.

10- Therapy.

11- Vengeance.

12- ?????????

*Note- Numbers 1-4 are good. #5 is OK. #6 is not terrible. All other reasons range from not good to despicable to real bad to evil.

Can you think of any others motives? Please add to list.

Macy’s has financial planners? Negotiators? Check Google. Where did she get this information? 

Picture added because of complaint there was no picture.

Guess who? Who is his friend? Was he seen in the lobby, sitting around the pool, eating a puppy or you know who?

Remember! The purpose of this blog is to inform and provided a platform for ideas, suggestions, comments, etc. For ALL Shareholders. If you agree or disagree you are welcome to participate.

Comments re: personal characteristics, physical attributes or ‘bad taste’ are ‘no-nos’. Please cooperate.