Thursday, May 14, 2009

Worst Board meeting ever

Today I skipped going to the Embassy for a decent beer and hang-out. Instead I decided to be responsible and take an interest in the condo corp where I live and own. I ended up attending a board meeting where:
  • We didn't meet quorum, so we started 45 minutes late because the board members and management had to run around the entire building finding random owners to sign proxy statements
  • 2 out of 5 board members didn't even show up until very late - one 30 minutes late - and the treasurer 1.5 hours late
  • The auditor explained the financial results. What happened to ownership of the financials by management and the board?
  • They could not answer basic questions like - "What is included in general expenses? Why did it exceed budget and prior year by $15,000?" When I asked what was in there, the property manager offered to give me a G/L printout. Through all of my financial questioning, the Treasurer (the guy who showed up 1.5 hours late) did not say a word.
  • We nominated and approved the re-appointment of the auditor while the auditor was in the room. When the nomination was passed, everyone applauded.
  • The President did not know what to say in the meeting and kept asking questions like - "Is this my script? It doesn't make sense. What do we do next?"
  • They had 3 vacant Board positions and only 2 people running. They had to ask for a volunteer from the meeting for the 3rd position.
  • They did not know how to run the vote. They did not know how many terms each position was re-elected for. They assumed that because there were 3 vacancies and only 3 people running, those 3 were automatically accepted in.
  • The vote took 1 hour because they had to call someone to find out how to run it.
  • When they announced the election results (had to choose between 3 people for 1 particular position) - they didn't just announce the winner, they announced the actual vote count for each person. The last-minute nominee got 2 votes. One of them was mine.
  • We also had to vote for who would get the 3 year position vs. 2 year. They could not figure out that by putting both people's names on the one ballot, they would both get the same # of votes, so that system didn't work.
  • When we finally voted - the last-minute nominee lost the 3-year position by default, since no one knew who he was before this meeting and most of the votes were by absentee proxy. So it was actually impossible to vote him in for that role.
  • Sadly - the last-minute nominee (an engineer and also financially savvy) seems to be the only one who understood anything in the whole meeting. Actually - most of the members of the meeting knew how to run the election better than the Board and management did.

There's more - but you get the picture.

Those are my condo fees at work. Now I know why I have to buy a house.

Wednesday, May 06, 2009

Purpose

...is that little flame...that lights a fire under your ass.

What's my purpose?