Notice of Annual Meeting; who would you vote for??

[Spence Super Moderator Find all posts View Profile Close Spence]

Oh, I see. As a deeded week owner, should I NOT be able to vote on this Trust BOD ? Are there two Boards, one for the deeded folks and one for the CSV-1 Trust ? This BOD thing is all new Greek stuff to me

As a deeded owner you can vote for the BOD at the resort where you are deeded IF there is such a vote. MANY Club Sunterra resorts are controlled by the developer and they appoint who they want to.

Why should you be able to vote for the Trust BOD if you have nothing to do with the Trust? Trust members don't hold their deeds, this is the product that Sunterra now sells for the most part.

[Xolodno Member Find all posts View Profile Close Xolodno]

Mr. Witten is the only one I know personally and that's the only one I'll endorse.

I placed our 10,000 points on your endorsement..and someone else who wasn't affiliated with the company.

[winger Senior Member Find all posts View Profile Close winger]

As a deeded owner you can vote for the BOD at the resort where you are deeded IF there is such a vote. MANY Club Sunterra resorts are controlled by the developer and they appoint who they want to.

Why should you be able to vote for the Trust BOD if you have nothing to do with the Trust? Trust members don't hold their deeds, this is the product that Sunterra now sells for the most part.

sorry bud, you only get my vote in heart, but not the real deal.

If they do send me a ballot I'll send it in

[clipper Junior Member Find all posts View Profile Close clipper]

The Ridge on Sedona Golf Resort

As a deeded owner you can vote for the BOD at the resort where you are deeded IF there is such a vote. MANY Club Sunterra resorts are controlled by the developer and they appoint who they want to.

There IS such a vote at The Ridge on Sedona Golf Resort.

We received our Notice of Annual Meeting at The Ridge on Sedona Golf Resort recently. We are deeded owners at this resort. The Resort belongs to the Trust. There are 7 names on the ballot, 2 are Sunterra employees. There are 3 directors to be elected and we are allowed 3 selections. It says at the bottom of the ballot that "Election officials will calculate your voting power based on ownership records provided by the Developer."

The candidates are Andrew Abbott Jr, Troy Magdos, Ted Majewski, Zachary Smith, Judy Wagner, Marilyn Windsor, and Larry Woodford. Magdos and Windsor are Sunterra employees. Woodford has been on the HOA Board before. Does anyone have any recommendations?

There is an option to vote by internet. Kudos to the previous board for giving us this option. I don't know anyone from the previous board but I am happy with what has happened at the resort so far, so I am giving one vote to Woodford.

BTW Spence, I think it is unfair/unfortunate that your bio had typos and the name on the ballot does not indicate that you are "Spence".

Mercedes

[Spence Super Moderator Find all posts View Profile Close Spence]

We are deeded owners at this resort. The Resort belongs to the Trust.

BTW Spence, I think it is unfair/unfortunate that your bio had typos and the name on the ballot does not indicate that you are "Spence".

Mercedes

Mecedes,
When a resort has Trust owners, this means that the Trustee is voting all the ownership in the Trust. Guess what? With an ownership as fractured as most big resorts have, no matter how small that Trust ownership is, it gives a humongous advantage to the candidates who the Trustee votes for. Guess who that will be.

As an aside, I was very impressed with Troy Magdos when I met him. Although in addition to the resort, he will have the best interests of Diamond in mind.

The only ones who Spence means anything to are the TS4Ms and TUG members and hopefully they have the word.

Regards,
Spence

[d0ugie_fresh Member Find all posts View Profile Close d0ugie_fresh]

The only ones who Spence means anything to are the TS4Ms and TUG members and hopefully they have the word.

We are in a similar situation at Kaanapali Beach Club with an owner (Bill Burns) trying hard to get owners represented on the board instead of all Sunterra employees. Not that there have been any major issues, but it just seems logical if a resort is owned primarily by owners it should be represented by owners and not developers and/or management companies.

He worked his a$$ off for about a year trying to make an impact. His first effort was to get on the board of directors (which he did) but then it was almost impossible to get enough votes to uproot the Sunterra people from the board. I'm afraid he's given up hope because the owner's website he created hasn't been updated in a while.

PS - is it allowable to post those kinds of links?

[Spence Super Moderator Find all posts View Profile Close Spence]

We are in a similar situation at Kaanapali Beach Club with an owner (Bill Burns) trying hard to get owners represented on the board instead of all Sunterra employees. Not that there have been any major issues, but it just seems logical if a resort is owned primarily by owners it should be represented by owners and not developers and/or management companies.

He worked his a$$ off for about a year trying to make an impact. His first effort was to get on the board of directors (which he did) but then it was almost impossible to get enough votes to uproot the Sunterra people from the board. I'm afraid he's given up hope because the owner's website he created hasn't been updated in a while.

PS - is it allowable to post those kinds of links?

To an owners or owner's website, sure, please do.

[clipper Junior Member Find all posts View Profile Close clipper]

Mecedes,
When a resort has Trust owners, this means that the Trustee is voting all the ownership in the Trust.

Hmmm, this makes me nervous now. So if the Trust holds a big chunk of ownership at The Ridge on Sedona Golf Resort, then deeded owners become powerless too?

The only ones who Spence means anything to are the TS4Ms and TUG members and hopefully they have the word.

Some members may not be reading TS4Ms and TUG all the time. I've just come back from a long absence and am trying to catch up with the posts. I would not have known that you are Charles Witten if I had not found this thread. Too bad there is no Charles Witten on our ballot.

Mercedes

[T. R. Oglodyte Moderator Find all posts View Profile Close T. R. Oglodyte]

Hmmm, this makes me nervous now. So if the Trust holds a big chunk of ownership at The Ridge on Sedona Golf Resort, then deeded owners become powerless too?

There have been some previous posts in which Spence and I have speculated about Sunterra's motives for creating trusts and selling trust interests instead of deeded ownerships. IOW - what motivates Sunterra to go through the extra work and hassle of setting up a trust?

As near as we can can deduce, there are three advantages:

1. Trust interests are not deeded real estate. Thus, the sales aren't regulated quite as closely.
2. Trust interests can be foreclosed upon more quickly in case of owner default.
3. Because the trust will be by far the biggest owner or resort interests, formation of a trust effectively moves control of the resort from individual owners to the trust.

Spence and I think the last item is the most important to Sunterra.

Typically, timeshare owners return about 20% of their proxies, and many (most?) of those are proxied to the board incumbents. If the trust comprises an additional 30% of resort ownership ownership the trust has sufficient votes that it will determine the outcome of all matters that come to a vote.

As long as Sunterra maintains good relations with the trust and doesn't put the trust members in an indefensible position regarding their fiduciary duties, Sunterra's control of the resort is pretty well locked in.

[d0ugie_fresh Member Find all posts View Profile Close d0ugie_fresh]

To an owners or owner's website, sure, please do.

Ok.. well in that case... if anyone who is a member of this group owns or just wants to browse an informative website about Kaanapali Beach Club, just go to:

http://www.kaanapalibeachresortowners.com/dnn

He posts minutes of board meetings, explains very well any kind of decisions that are made that cost a lot of money, upcoming events, etc.

Enjoy!

[Spence Super Moderator Find all posts View Profile Close Spence]

Hmmm, this makes me nervous now. So if the Trust holds a big chunk of ownership at The Ridge on Sedona Golf Resort, then deeded owners become powerless too?

That's exactly right, I've been preaching this for some time.

Some members may not be reading TS4Ms and TUG all the time. I've just come back from a long absence and am trying to catch up with the posts. I would not have known that you are Charles Witten if I had not found this thread. Too bad there is no Charles Witten on our ballot.

Ridge on Sedona is one I don't own at, there are a few.

[clipper Junior Member Find all posts View Profile Close clipper]

There have been some previous posts in which Spence and I have speculated about Sunterra's motives for creating trusts and selling trust interests instead of deeded ownerships. IOW - what motivates Sunterra to go through the extra work and hassle of setting up a trust?

As near as we can can deduce, there are three advantages:

1. Trust interests are not deeded real estate. Thus, the sales aren't regulated quite as closely.
2. Trust interests can be foreclosed upon more quickly in case of owner default.
3. Because the trust will be by far the biggest owner or resort interests, formation of a trust effectively moves control of the resort from individual owners to the trust.

Spence and I think the last item is the most important to Sunterra.

Typically, timeshare owners return about 20% of their proxies, and many (most?) of those are proxied to the board incumbents. If the trust comprises an additional 30% of resort ownership ownership the trust has sufficient votes that it will determine the outcome of all matters that come to a vote.

As long as Sunterra maintains good relations with the trust and doesn't put the trust members in an indefensible position regarding their fiduciary duties, Sunterra's control of the resort is pretty well locked in.

Many thanks for summarizing it again here. I guess I missed that discussion or it went over my head at that time.

[Spence Super Moderator Find all posts View Profile Close Spence]

Put your vote in for next week's meeting - You can do it in 10 seconds online

I voted for Charles S.D. Witten
(then I wrote in Spence Witten in the write in slot, two votes for Spence)
Don't vote for Marilyn Windsor or Jason Toste, whatever you do.
Put in Charles S.D. Witten for your proxy.

Goto https://vote.election-america.com/csv
Enter your member#
Enter your Election Validation Number


Club Sunterra Vacations Members Association, Inc.
The election closes at 11:59 pm (PDT) on October 23, 2007.
Your Member Number and Election Validation Number appear on the paper ballot that was mailed to you.
Please enter them below without any spaces or dashes.
Then click on Enter.

[tennisWalt Super Moderator Find all posts View Profile Close tennisWalt]

Where Is The Owner's Web Site?

Ok.. well in that case... if anyone who is a member of this group owns or just wants to browse an informative website about Kaanapali Beach Club, just go to:

Ka'anapali Beach Club - Maui, Hawaii United States | Timeshare | Vacation Ownership

He posts minutes of board meetings, explains very well any kind of decisions that are made that cost a lot of money, upcoming events, etc.

Enjoy!

The Link doesn't get you to the KBC Owner's Web Site anymore. It goes to the Diamond Web Site. Why? What Happened?

Walt

Ka'anapali Beach Club - Maui, Hawaii United States | Timeshare | Vacation Ownership

[DRIvaDiva Banned Find all posts View Profile Close DRIvaDiva]

The Link doesn't get you to the KBC Owner's Web Site anymore. It goes to the Diamond Web Site. Why? What Happened?

Walt

Ka'anapali Beach Club - Maui, Hawaii United States | Timeshare | Vacation Ownership

Why? Come now, you're smarter than the average TS owner.