WorldMark owner communication for independent board

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

From Cendant's point of view, this will be major since the Grime's complaint of last year asserted that Fairfield's domination of their management trust devalued ownerships.

I have lost touch on that case. I wonder if the class was certified. I just send an email to the lead attorney, Steve Berk, to find out where it's at. His email said he was out until July 18 on vacation. I'll post whatever info I get when he responds which could be a while since he is normally slow to respond anyway and he will surely be backed up when he returns.

[PA- Junior Member Find all posts View Profile Close PA-]

From Cendant's point of view, this will be major since the Grime's complaint of last year asserted that Fairfield's domination of their management trust devalued ownerships.

....

I don't understand the connection. Please explain why it will be major?

[PA- Junior Member Find all posts View Profile Close PA-]

By the way, what can I get with my 14 tsforums points?

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I don't understand the connection. Please explain why it will be major?

Cendant will be fighting a very similar issue on two different fronts. Fighting to keep control of the boards of FF and WM. They are fighting the Grimes case in the courts. They are fighting the WorldMark issue by trying to outmarket you and hoping to fight a war of attrition.

The fundamental issue in the Grimes case is the conflict of interest that the Board of Trustees has in being dominated by Fairfield and yet supposed having fiduciary accountabilities to the owners. The class action attorneys are not seeking, as far as I can tell, a remedy that calls for an independent board. That's because they don't make any money doing it. But, it is clearly a possibility. Had the trustees been truly independent, there wouldn't be a case. There still may not be a case, especially since the theory of damages is so weak.

In any event, it would be great to get some precedence set in this area that favored owner controlled boards.

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

We've been WorldMark/Trendwest owners since Aug' 05. It'll be interesting to see how this all plays out.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

I just read on wmowners.com that the second amended complaint for the Fairfield Class action law suit was dismissed. I don't know if that means the action is over or if just part of it is done. It doesn't seem good for the plaintiffs. I think this was just filed as of July 14, so it's recent information.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

Deleted........

[PA- Junior Member Find all posts View Profile Close PA-]

When the predecessor to this forum started a while back, then evolved into this forum, I wondered why the need. I was in favor of keeping all discussions in TUG, so I wouldn't need to flip back and forth. And indeed, I haven't paid much attention to this forum, or to its predecessor.

I recognized that TUG was censored to a degree, but didn't feel it warranted a whole nother forum.

My opinion has changed over the last year, and has been confirmed with the treatment of the sister thread to this one on TUG. TUG is in danger of becoming irrelevent, just like the worldmarktheclub forum is. And for the same reasons.

[BocaBum99 Super Moderator Find all posts View Profile Close BocaBum99]

When the predecessor to this forum started a while back, then evolved into this forum, I wondered why the need. I was in favor of keeping all discussions in TUG, so I wouldn't need to flip back and forth. And indeed, I haven't paid much attention to this forum, or to its predecessor.

I recognized that TUG was censored to a degree, but didn't feel it warranted a whole nother forum.

My opinion has changed over the last year, and has been confirmed with the treatment of the sister thread to this one on TUG. TUG is in danger of becoming irrelevent, just like the worldmarktheclub forum is. And for the same reasons.

Well, now you know why I created a new thread. This topic is very charged emotionally on either side since it deals with the future of the club and taking sides. When people are taking sides, debates occur and sometimes they get heated. Not everything needs to be collegial.

I have learned that when people have something to say, they don't like getting censored. When they do, sometimes they lash out or simply shut down. Both states are bad.

If you want to make it a campaign here, you can. Further, responses from both sides will be aired out.

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

I just received my destinations magazine. There is a very large add on page 8 for members to sign their proxy vote over to the BOD. I think the BOD is working very hard to not loose any proxy votes. I am very much in support of PA's efforts here and I do hope to see an independent board.

I am very disappointed in the new direction Worldmark is taking and hope to see significant change for the better.

Sonya

[coatrack Member Find all posts View Profile Close coatrack]

There must be a quorum

I just received my destinations magazine. There is a very large add on page 8 for members to sign their proxy vote over to the BOD.
Sonya

There has always been information/request for proxies in the magazine around election time.....if there is no quorum they cannot hold a working Annual Owners Meeting. I do not see anything evil in this....but everyone should vote for themselves to be heard......just like in a presidential election.

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

I know there has always been a push for proxy votes, but it seems the add is larger and more forward than it has been in the past. I am not saying it is right or wrong and I do understand the quoroum requirements. This is merely an observation. I just find it interesting that as the community works harder for positive change the BOD works harder to keep things the same.

Sonya