TOUGH TIMES ????
the weekend is over -- it's monday and now 2 of the biggest financial institutions in the country have gone under -- lehmans and merril are gone joining bear sterns -- fannie and freddie are in receivership of the usa government-- aig is near death -- should be gone by next weekend - wamu and wachovia right behind them -- the usa financial market is having the worst time since the '29 market crash -- it has already attained a larger $ loss than '29 -- things are deteriorating and collapsing very quickly --
why is this important to la????-- well i believe la may have the worst financial emergency since la was created -- the dues receivables could very well be a disaster by spring -- there may not be enuf $ to pay for la --this bod needs to seriously begin to figure out how to operate la with a lot less income -- they need an emergency plan to be able to cut costs at la -- that will mean making tough decisions like what and where to cut -- operational schedules, payroll, discretionary spending, capital improvements and any other area where costs can be contained -- if they don't start planning now and begin to understand what they will do if la gets in trouble then if that happens then the board will be derelict in their duties and should resign en mass-- i have very little confidence -- in this bod -- many are incompetent and arrogant and i doubt they even understand the magnitude of what la could be facing-- the members may very well need to be ready to act in case the la bod fails in protecting la and the members interest -- over this winter we members need to keep an eye on them to protect our interests -- i will report about any actions that bod implements-- but don't put too much hope into that to happen with this bod--i would like to know what others feel about this issue and what you think could be done if la gets into financial trouble-- post a comment or email me at lachipper@gmail.com
It seems like more property owners are concerned then you think. Spending has always been a problem in the past with previous boards and it seems this one may be following suit. As far as going bankrupt if you read the last financial report we should be stable, again, unless the BOD does some stupid spending.The BOD must work together and not worry about certain employees and property owners and make decisions fairly to ALL property owners. Everyone should also realize we employ the staff and they do not employ the owners.Also, with all the delays in choosing a property manager we should look towards Appletree Mgt. that runs Eagle Lake and if you're curious how good they are take a visit to Eagle Lake where their dues are lower then ours and the comeback from owners here will be they pay their own electric, well, the average electric bill is under $100 for a season. Before people think this would not benefit us think about someone who doesn't take input from owners who helped the board member get elected and is now looking for paybacks, if you don't think this is happening I know a bridge in NY that I can get you a good deal on.
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