posted 03-07-2005 13:08               

Way to go Rhonda!

posted 03-07-2005 13:27               

Congratulations!! Now can we mention resales?

Perry

posted 03-07-2005 15:39               

Congratulations. This is great news for WM.

posted 03-07-2005 23:13            

quote:

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Originally posted by rhonda:
Thank you, friends! Our online communities have provided new friendships, a wealth of education, encouragement, and resources for working through the challenges. Let's keep it going together!

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On the contrary, THANK YOU, Rhonda, for your willingness to sacrifice personal time, energy, and resources for the WM community!!! Let's keep it going together, indeed! Congratulations!!!

posted 03-08-2005 09:51            

Edited: Wow again, you were appointed? That brings up my stock on Mr. Hensley. Perhaps there is hope for our board after all!

posted 03-09-2005 16:41               

quote:

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Originally posted by Swarthog:
Wow filling out those proxies really worked! Great job and hold their feet to the fire. Beyond that keep us informed of any rotten Cendent plans!

Edited: Wow again, you were appointed? That brings up my stock on Mr. Hensley. Perhaps there is hope for our board after all!

[This message has been edited by Swarthog (edited 03-08-2005).]

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Before you get too warm, Swarty, understand that Trendwest was required by the bylaws to have a token "non-Trendwest/Cendant employee" on the board of directors. This was to fill a slot long held by Don Williams, who apparently quit in frustration because he had no involvement in any decision, and felt like the board was making "questionable" decisions for Worldmark owners.

posted 03-09-2005 16:44               

quote:

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Originally posted by PA:
Before you get too warm, Swarty, understand that Trendwest was required by the bylaws to have a token "non-Trendwest/Cendant employee" on the board of directors. This was to fill a slot long held by Don Williams, who apparently quit in frustration because he had no involvement in any decision, and felt like the board was making "questionable" decisions for Worldmark owners.

I'm happy for you Rhonda, since this is apparently what you wanted. I hope that you enjoy the experience.

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That's true PA, but it would be great if Rhonda could get us a) the owners list of names and addresses are guaranteed by the bylaws and b) a heads up on any things that would hurt our investments. Those two things would allow us to vote out the WHOLE board if they did anything to destroy our ownerships.

posted 03-09-2005 22:02               

quote:

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Originally posted by PA:
Before you get too warm, Swarty, understand that Trendwest was required by the bylaws to have a token "non-Trendwest/Cendant employee" on the board of directors. ....

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I've heard this several times, by a number of people. But that is not what I read in the bylaws. The actual terminology from the copy of the bylaws that I have, under section 4.4(c) is:

"The candidates receiving the highest number of votes, up to the number of directors to be elected, shall be elected. Provided, however, that at least one (1) director shall be elected by the votes of Class A Members so long as the Declarant holds a majority of the Voting Power, or so long as there are two classes of Membership. The ballots from Class A Members shall be deposited and counted separately"

Class A and Class B members are defined earlier in Section 3.2 of the bylaws with Class A being personal use owners and Class B being essentially Trendwest/Cendant, with the number of Class B votes determined by the number of unsold memberships. The bylaws further state that Class B shall become Class A as soon as the voting power of Class B falls below 20% of the total voting power.

If the majority of the owner votes are cast as the board recommends, either directly or by proxy, counting those ballots separately would still result in a non-independent owner being elected and meeting this provision of the bylaws. Unless I'm interpreting the bylaws wrong, which I'll admit is entirely possible, I see no hard requirement for a non-Trendwest/Cendant employee on the board.

The copy of the bylaws I have is dated December 2, 1994, so it's possible they have been modified since then. That's not an easy thing to do though, since it requires a vote of approval from at least 25% of the owners. Also I have no idea if the two classes of membership still exist. If Class B has become Class A by falling below the 20% voting power threshold the whole issue is irrelevent. Any director elected would be elected by a vote of only Class A members.

posted 03-10-2005 07:13            

quote:

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Originally posted by roadsister:
Boca,
I think the bylaws say you could get the names of owners, not their addresses.

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I thought we went through this exercise before:

quote:

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7: RECORDS AND REPORTS

7.1 Inspections.

7.l(a) Members. The Articles, Bylaws, Declaration,Rules, Membership register (including mailing addresses and telephone numbers) or duplicate Membership register, the books of account and minutes of proceedings of the Members, the Board and any committees, and all other records of the Program maintained by the Club or its Manager, shall be made available for inspection and copying, upon written demand and reasonable notice, by any Member or his duly appointed representative, at any reasonable time and for a purpose reasonably related to his interests as a Member. The Club may restrict the use of information from the Membership register by requiring Members to sign a written agreement not to use or allow use of Membership information for commercial or other purposes not reasonably related to the affairs of the Club.

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posted 03-10-2005 11:49               

quote:

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Originally posted by BocaBum99:
That's true PA, but it would be great if Rhonda could get us a) the owners list of names and addresses are guaranteed by the bylaws and b) a heads up on any things that would hurt our investments. Those two things would allow us to vote out the WHOLE board if they did anything to destroy our ownerships.

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posted 03-10-2005 11:54               

In either case, does it matter? It looks better for TW to have

A) 1 independant token member
B) 1 non-white male member of the board

posted 03-10-2005 19:59               

quote:

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Originally posted by PA:
The only way Rhonda will get that list is with a court fight. I suspect Rhonda will have to pay her legal expenses herself, since I doubt the board would vote to have Worldmark pay for it. Trendwest can use Worldmark money, Cendant money, or thier own, at their discretion for their legal expenses.

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Maybe we can get Ralph Nader behind this issue in his campaign for the 2008 Presidental election. Or, maybe Barry Diller would help to hurt Cendant. Heck, Bill Gates lives in Seattle. Maybe he would help out. Or, maybe George Soros. He is big on currency hedging.

posted 03-10-2005 22:24               

My questions follow:

1. Have wmowners.com tried to get the mailing addresses?

Boca -
1. Why in the world would Rhonda want or try to get the mailing addresses?????? According to Rich's post, he, you, I or anyone could get it if the reason was in the interest of the club.

posted 03-10-2005 22:37               

quote:

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Originally posted by roadsister:
.....1. Why in the world would Rhonda want or try to get the mailing addresses?????? According to Rich's post, he, you, I or anyone could get it if the reason was in the interest of the club.

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Rich's post indicated that we are entitled to the list, not that we "could get it if the reason was in the interest of the club".

The interest of the club is not important to Cendant, it's the interest of Cendant that matters to the WM BOD, unfortunately.