Presentation on theme: "11/15/7Residents Voice1 Following the Money” 11/15/2007 Conrad Grundke “What Money?” GRF & PCM Ask, There isn’t any!"— Presentation transcript:
11/15/7Residents Voice1 Following the Money” 11/15/2007 Conrad Grundke “What Money?” GRF & PCM Ask, There isn’t any!
11/15/7Residents Voice2 Two “Make money” Fairy Tales One Simple One Complex “Once Upon a Time …..”
11/15/7Residents Voice3 The Simple Tale
11/15/7Residents Voice4 “Once upon a time ……” Pooled their money – won the lottery And, Lived happily ever after! Two people went to Las Vegas
11/15/7Residents Voice5 The Complex Tale
11/15/7Residents Voice6 “Once upon a time ……” A couple heard a voice say, “Buy LOW, Sell HIGH”
11/15/7Residents Voice7 So they developed a plan! They searched for some property to develop.. An inexpensive site was found. He purchased the property at a Minimal Price (buy low).
11/15/7Residents Voice8 But, they now needed money to develop the property. The bank would only loan Money based on the “Low” sale price. How can they increase value of the property. What if he sells the property to her at a high price (sell high). He makes a profit and she has a “high” assessed value.
11/15/7Residents Voice9 The Bank then loaned her Money based on the “High” assessed value. A pot of Gold! She sells the developed property & makes “Mucho Bucks?”
11/15/7Residents Voice10 And they lived happily ever after!
11/15/7Residents Voice11 Things to consider! Location! Location!! Location! Locate property in a desirable location. Price the property so that it will sell. Ensure lots of amenities. Allow for adequate parking. And
11/15/7Residents Voice12 always! Check with “Residents Voice” to make sure they have no plans to negatively impact the world economy, including “your” property.
11/15/7Residents Voice13 The End of the Fairy Tales
11/15/7Residents Voice14 Non – “Fairy Tales”
11/15/7Residents Voice15 So! Where’s the Money? Credit Cards (GRF/PCM would like it to stop right here) Expense Reimbursements Bonus/Incentive Plans (GRF/PCM must stop it here!) BECAUSE “Pandora’s Box” is Next
11/15/7Residents Voice16 Security Old Admin Bldg Broadband San Sebastian Maintenance Pandora’s Box Cedit Cards Reimbursements Bonus Plan
11/15/7Residents Voice17 Pandora’s Box! Sale of the old admin building (visibility) –Many residents are questioning the nature of this sale concerning GRF, PCM, and our corporate attorney with respect to their Fiduciary responsibility to the owners! Question: Couldn’t we have built CH #7 at this location? Answer: It would have been an ideal location for the Bridge players.
11/15/7Residents Voice18 Pandora’s Box! WHAT is the 4 story “thing” being built between Long’s Drugs and our Library? GRF assured us it will only be 3 stories. –But GRF can say that this is the cities fault since they OK’d the added story. Question: Who is directing or overseeing all of these changes in plans?
11/15/7Residents Voice19 Pandora’s Box! Broadband (service level) – Why is there such an influx of Satellite Dishes on our rooftops? Can it be that our service doesn’t provide what the residents want? Question: Will we ever catch up with “current” technology? Answer: NO!
11/15/7Residents Voice20 Pandora’s Box! Security (service level) –This is still considered one of our most wanted amenities, but, since we hired a Certified Third Party Security Company (PCM) to provide this service we have reduced our security markedly! Question: What is the cost tradeoff if we had kept this service In-house?
11/15/7Residents Voice21 Pandora’s Box! Maintenance (service level) –Duration of time from reporting a problem until problem is resolved. –3 years ago we spent $250,000 for personnel to do scheduling to reduce this time and eliminate duplication of personnel taking calls. Question: Has this happened? Answer: Many residents say, “No!”
11/15/7Residents Voice22 Poll If a small percent of the people represent Residents Voice, and should be ignored; What does the Poll on the election of GRF Directors tell us?
11/15/7Residents Voice23 Attorney Interview
11/15/7Residents Voice24 “Grilling” vs “Interview” The selection of words by the Globe Reporter was unfortunate since she is assumed to be unbiased. First, you must ask, “What was the purpose of the questions posed to ‘OUR’ Corporate Attorney?”
11/15/7Residents Voice25 Attorney Interview These questions would be asked of any attorney who is considered to represent our mutuals, whether it is the existing attorney or another independent counsel. You cannot question the right of a client to verify that there is no “conflict of interest” that would impede any counsel in making their decision.
11/15/7Residents Voice26 And Now, “Back on the Trail...” GRF & PCM were …. “Caught with their Pants Down !” GRF & PCM Remembering George’s Quote ! R-Voice