12/11/7Residents Voice1 “Following the Money” 12/11/2007 Directors PCM The Great Barrier “TRUST”

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Presentation transcript:

12/11/7Residents Voice1 “Following the Money” 12/11/2007 Directors PCM The Great Barrier “TRUST”

12/11/7Residents Voice2 “Yes! It is our Fiduciary Responsibility!” When asked if they are looking out for the owners, the Directors vehemently say,

12/11/7Residents Voice3 What Does That Tell Us? Definition: FIDUCIARY –Of or relating to a holding of something in trust for another. –Of or being a trustee or trusteeship.

12/11/7Residents Voice4 Definition: Responsibility –The state, quality, or fact of being responsible. –Something for which one is responsible; a duty, obligation, or burden.

12/11/7Residents Voice5 conclusion The Directors will responsibly hold our assessments in trust! WHAT does it mean to YOU? A Meaningless Statement!

12/11/7Residents Voice6 HOW has this been done? By Relying on PCM for all decisions, without question!

12/11/7Residents Voice7 What we need ! Definition: oversight –An unintentional omission or mistake. –Watchful care or management; supervision.

12/11/7Residents Voice8 What do we have? Fiduciary = MONEY ($90 + mil budget) Responsibility = Whatever PCM defines; –What we do know: (from past accidents) Credit Cards Expense Reimbursements Bonus Incentive Plan –What we don’t know: (from future accidents) Etc.

12/11/7Residents Voice9 Which do we want? Directors to responsibly hold our assessments in trust! OR, Directors to provide watchful care & management, ….. supervision! OVERSIG HT!

12/11/7Residents Voice10 Who Provides Oversight Today? GRF ? ---- NOPE UNITED ? - NOPE THIRD ? --- NOPE –N–Not unless the ones who control the Board today begin to see the light and understand what is needed to identify and resolve the problems!

12/11/7Residents Voice11 What we need! Recall the “obstacles” on the Third Board. Elect Directors who will agree to provide Oversight! Support the new Directors, who will, by their action, force GRF and United to also provide Oversight!

12/11/7Residents Voice12 And Now, “Back on the Trail...” GRF & PCM were …. “Caught with their Pants Down !” GRF & PCM Remembering George’s Quote ! R-Voice

12/11/7Residents Voice13 THE END