8/16/7Residents Voice Meeting1 “Following the Money” 8/16/2007 Conrad Grundke On the Trail.....
11/15/7Residents Voice1 Following the Money” 11/15/2007 Conrad Grundke “What Money?” GRF & PCM...
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Transcript of 11/15/7Residents Voice1 Following the Money” 11/15/2007 Conrad Grundke “What Money?” GRF & PCM...
![Page 1: 11/15/7Residents Voice1 Following the Money” 11/15/2007 Conrad Grundke “What Money?” GRF & PCM Ask, There isn’t any!](https://reader030.fdocuments.net/reader030/viewer/2022032701/56649c725503460f9492354a/html5/thumbnails/1.jpg)
11/15/7 Residents Voice 1
Following the Money”
11/15/2007
Conrad Grundke
“What Money?”
GRF & PCM Ask,
There isn’t any!
![Page 2: 11/15/7Residents Voice1 Following the Money” 11/15/2007 Conrad Grundke “What Money?” GRF & PCM Ask, There isn’t any!](https://reader030.fdocuments.net/reader030/viewer/2022032701/56649c725503460f9492354a/html5/thumbnails/2.jpg)
11/15/7 Residents Voice 2
Two “Make money”
Fairy Tales
One Simple
One Complex
“Once Upon a Time …..”
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11/15/7 Residents Voice 3
The Simple Tale
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11/15/7 Residents Voice 4
“Once upon a time ……”
• Pooled their money – won the lottery
• And, Lived happily ever after!
Two people went to Las Vegas
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11/15/7 Residents Voice 5
The Complex Tale
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11/15/7 Residents Voice 6
“Once upon a time ……”
A couple heard a voice say,
“Buy LOW,
Sell HIGH”
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11/15/7 Residents Voice 7
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).
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11/15/7 Residents Voice 8
• 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.
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11/15/7 Residents Voice 9
• The Bank then loaned her Money based on the “High” assessed value. A pot of Gold!
• She sells the developed property & makes “Mucho Bucks?”
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11/15/7 Residents Voice 10
And they lived happily ever after!
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11/15/7 Residents Voice 11
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
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11/15/7 Residents Voice 12
always!
• Check with “Residents Voice” to make sure they have no plans to negatively impact the world economy, including “your” property.
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11/15/7 Residents Voice 13
The End
of the Fairy Tales
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11/15/7 Residents Voice 14
Non – “Fairy Tales”
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11/15/7 Residents Voice 15
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
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11/15/7 Residents Voice 16
Security
Old Admin Bldg
Broadband
San Sebastian
Maintenance
Pandora’s Box
Cedit Cards
Reimbursements
Bonus Plan
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11/15/7 Residents Voice 17
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.
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11/15/7 Residents Voice 18
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?
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11/15/7 Residents Voice 19
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!
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11/15/7 Residents Voice 20
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?
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11/15/7 Residents Voice 21
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!”
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11/15/7 Residents Voice 22
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?
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11/15/7 Residents Voice 23
Attorney Interview
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11/15/7 Residents Voice 24
“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?”
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11/15/7 Residents Voice 25
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.
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11/15/7 Residents Voice 26
And Now, “Back on the Trail . . .”
GRF & PCM were ….
“Caught with their
Pants Down !”
GRF & PCM
Remembering George’s Quote !
R-Voice
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11/15/7 Residents Voice 27
THE END