Now that it's public, I can talk about things a little more than I could in the past. My co-op is going to have a significant maintenance hike, and none of us are happy about it.
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As much as I wanted to go out as Marian today, it made much more sense to go out as Mario, as I had a special co-op board meeting open to shareholders. We planned to prepare shareholders for next year's rate hike, and introduce the new management company to our shareholders. Things changed a little, as the new company didn't attend the meeting - and I think the co-op's attorney was happy about that.
The meeting started at 6 m, and our board's president informed us about what was going on, giving us the low down before the old site representative and our shareholders arrived. All too soon, people started arriving, and we couldn't speak openly any more.
Once everyone was in the room, the co-op president opened the meeting, telling the attending shareholders about the rate increase. And then, the soon to be ex site manager took over, telling attendees the story about how we got into this mess. (I won't go into details here, but I'd say that what we were told is partly truth and partly fiction.) After that, the floor was open to questions from the audience.
One shareholder stood out - he kept dropping the name of one politician as if that fellow could do things for us. He can't. Insurance companies are free to set commercial rates and only issue policies to firms that meet their underwriting criteria. Others had more reasonable questions, and we responded with what we knew - we're waiting for our mortgage holder to approve this policy, so that the forced coverage policy we have can be dropped, saving us money.
I was glad that the meeting was over by 8 pm. There is more that I have to talk about with the co-op president, but I won't go into that here.
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