Tell us what’s on your mind? 
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THE BOARD HAS NO AUTHORITY TO REPEAL THE BY LAWS. It takes a75% vote of the outstanding shares – at a meeting held for that purpose.
That is clearly stated in both By Laws and the Certificate of Incorporation.
That’s just another example of their incompetence and lack of leadership and failure of their legal representation.
I hope a replacement Board will hold all parties who voted for the repeal as acting in Questionable Conduct of the shareholder body and move to revoke their Proprietary Leases.
More facts – we now have 4 people, plus a fake consultant, plus Akam, doing the same amount of work (incompetently, I’m most peoples experience), that 3 people were doing in the management office. The payroll and management cost is likely a multiple higher then last year, which is another reason they are not releasing financials.
We are taken seriously when we stick to the undisputed facts, so here are just some of them:
It’s a fact that 4 of the original 9 Board Members left the Board within the first 6 months. It’s a fact that shareholders never received a budget for this year. It’s a fact that shareholders have not been told why we needed to borrow $15,000,000 or how it will be used. It’s a fact that Doris was fired and threatened with eviction. It’s a fact that Management and the Board President have a connection to the real estate agent who orchestrated the creation of our present board.
One thing that is not yet a fact is that the present board members will be voted out in just a few short months. Apathy among shareholders will be the greatest asset to the status quo. There are already several highly qualified shareholders that have said that they will run. A new and fair election with all shareholders participating will make the difference.
NOTE TO ALL:
There will soon be a posted change to THOUGHTS comments, as advised by my attorney. Specifically I can’t edit your comments so if you are making serious accusations without fact – I can’t insert words like “allegedly” to keep your comment posted; nor can I remove an offending word or discriminatory description of (really deserving) individuals. My one and only choice is delete the entire comment.
So please choose your words carefully.
If you Register as a member of the “free” tenants association – I can assign you a non-descriptive name (like kiwi or blue) and you can go into the Shareholder Discussion section of this website and scream to your hearts content and only the other Registered members will be able to see it and add to it or comment about it (almost like whatsup) except only I would know who ‘kiwi or blue’ actually is.
Ron
Your answer to “stupidity” only shows your absolute insanity. You are asking people to prove what their personal thoughts are. I bet you think you are smart enough to challenge people’s thinking. but your answers prove you are not. If there’s a cult level behavior – don’t look at the shareholders OPINIONS. Look at the people who are factually screwing the shareholders. You are most likely one of them. Do you even know what cult level behavior is? I doubt it. You should stop embarrassing yourself by posting your ignorance to this page.
Stupidity? Excuse me? Then show some proof because at this point calling people who disagree with you stupid is some cult level behavior
Stupidity – that’s when someone posts “a personal opinion” and an ignorant person comes along on June 22 and 23 screaming “Show me proof pls pls pls show proof NOW.
That’s all I got to say and that’s my personal opinion!
Regarding the By-Laws being changed – even if the change was legal, the original wording WAS violated when the Annual Meeting and election was not held in May. This change to the By-Laws came about on June 20th, more than one month after the original violation. That’s like breaking the law and then passing a change to the law you broke. It doesn’t work that way in a court of law and it doesn’t work that way for a co-op board.
To clarify comments posted on June 17th and 20th, there were bid-rigging charges filed against several Queens and Manhattan property managers and management companies many years ago. Both, our co-op and Park City Estates were mentioned in the June 23, 1999 article by the NY Times. I tried to post the link to the article without success but if you want to read the full articles type in
30 Are Charged In Bid Rigging On Co-op Work
20 More Are Charged in Bid Rigging at Co-ops
All of that happened PRIOR to Chandra being our property manager and prior to the recently voted-out Board of Directors.
Also, I believe there are specific By Laws mention of a change in the number of the “elected” 9-member Board [to just 8-members (since March) and now 7-members (after Renee’s leaving)] requiring the consent of the shareholder body before conducting further co-op business. We are looking into that.
Ron
TO ALL SHAREHOLDERS:
For what it is worth, my attorney recently wrote to the Board and co-op attorney regarding their violation of our co-op By Laws, specifically, – Article 1, Section 1 – that deals with annual shareholders meetings and elections. Apparently, that prompted the Board to remove Article 1 Section 1 from our By Laws “as of June 20th” based on the vote of 2/3rds of the current Board members. I just forwarded the Board’s notice of its removal to my attorney this evening and I’m waiting for her to look it over and to advise me.
However, I have my personal doubts about the Board’s action because there is a section in our By Laws Article X (b) that while it seems to imply that the Board can amend or change our By Laws – there are two other sections of Article X (a) (c) that have wording that appear to contradict the stated Article X (b) section.
In addition, our corporation’s Certificate of Incorporation (Section NINTH) reads:
“With respect to the transaction of certain items of business at any meeting of shareholders, the holders of more than a majority of the issued and outstanding shares shall be required to constitute a quorum, to wit…
[part vi reads] “Two-thirds or (if there are any “Unsold Shares” (as said term is defined below) outstanding) 100% of the of the issued and outstanding shares for the transaction of any business relating to the amendment, alteration, repeal or addition to the By Laws of the corporation…”.
THAT IS NOT THE LEGAL OPINION OF MY ATTORNEY! I am simply quoting what is written in our Certificate of Incorporation. You may view the Certificate of Incorporation and the Corporation By Laws in the DOCUMENTS section of this website.
Ron Migut
Got a letter in my door which indicates that the Board basically is moving the annual meeting which means that they’re moving the election date. Not even sure if they acted legally according to our bylaws which need shareholders approval. Also noticed that this is another indication that Rene Leggett is no longer on the Board. Does anyone know her and what led to her being either removed or resigned? Between the Board’s secrecy in financial matters to the nearly ½ of the Board members no longer there, I don’t know how anyone aware of the situation would vote for them again.
The proof will be on your maintenance bill soon.
To the comment below. Where is the new board proof that about Chandra, they are proposing the same tactics as him but even Worse then him. And they are so dumb that they do it out in the open!! At least Chandra did it on the low low!!
Stop with the scare tactics. Show the proof.
Show me some proof pls. You could not wait to kick out Chandra & get this new board elected. NOW, pls pls pls, show us some proof. Im tired of all the mailings, papers stuck on my dooerin the wee hours of the night. Pls show some proof. Pls. Show the proof. NOW.
