Poipu Point Election of Directors

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

I received my ballot for VOA and AOAO Board of Director's Election on Saturday.
I have never voted for these before and I feel it is important to be represented by us owners.
Does anyone know any of the canidates and could help recommend the person that could best serve us owners?

Thanks,

Al

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

Poipu Point BOD

Al
I own two weeks and am also interested in the makeup of the Board.
When did you receive your ballot. I haven't seen one yet.

Alleng

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

Mine came in the mail a couple of days. It was easy to eliminate a couple of names - these affiliated with Sunterra.

I've decided that if I ever run for the Board, I'll use the 100 or so words candidates are provided to point people to a website where I post a real discussion of qualifications and issues.

****

If I had to vote based solely on the limited info in the ballot, I would probably vote for either DeRosa or Powers.

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

Alleng,
My ballot came in the mail on Saturday 2/17/07.
It needs to be returned by 3/05.
Did you receive yours yet?
Al

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

Al

I haven't seen it yet but I live in Colorado on a dirt road so our mail comes
a little later. Is it clear who the Sunterra reps are?

On another note, I linked from this site to ebay's TS auctions and I saw two units for Poipu Point for sale for very little $. They seem to be selling for less than what a comparable unit would sell for if you bought the entire 50 weeks as a condo. Why is this happening. I thought TS were supposed to sell at a premium since we only are buying 1 week. These were float weeks which makes even less sense. Whats going on?

Alleng

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

Al

I haven't seen it yet but I live in Colorado on a dirt road so our mail comes
a little later. Is it clear who the Sunterra reps are?

On another note, I linked from this site to ebay's TS auctions and I saw two units for Poipu Point for sale for very little $. They seem to be selling for less than what a comparable unit would sell for if you bought the entire 50 weeks as a condo. Why is this happening. I thought TS were supposed to sell at a premium since we only are buying 1 week. These were float weeks which makes even less sense. Whats going on?

Alleng

From the ballot:

Amie Doetzer Ms. Doestzer is Assistant General Counsel of Sunterra Corporation. ....

Greg Kostanoski ... KBVR and Kauai PPR board member since 2004. In my position as a Hawai'i Regional Manager, I am actively involved with all timeshare operations.

To be honest, Mr. Kostanoski's blurb does not say he is a Sunterra Hawai'i Regional Manager - I may have read that into the statement.

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for myself, I'm most interested in people who look as if they will bring an ability to provide critical review of resort operations - who can look deeper than just the statements and reports provided by management. I don't care about looking at ways to promote Po'ipu or stimulate visitor interest. I want a resort that is well run and maintained, that is operated to maximize owner interests and not sales interests.

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

Steve

This brings up some good questions. First of all if the developer's Board representatives serve because it is included with there jobs, they are paid to do it as part of their salaries. Independant representatives are acting as volunteers and I would assume are usually less able to evaluate the inner workings of the resort.
Is there training available for independent directors? Are there services that will independently evaluate resorts on behalf of the owners and will help guide them on how to motivate management to make suggested changes?
As the TS industry matures I believe we may see more owner activism just as we see Boards at corporstions pressured to be more responsive.

Alleng

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

Steve

This brings up some good questions. First of all if the developer's Board representatives serve because it is included with there jobs, they are paid to do it as part of their salaries. Independant representatives are acting as volunteers and I would assume are usually less able to evaluate the inner workings of the resort.

There are inherent conflicts between developer (sales) interests and owner interests, which are great enough in my opinion to make it undesirable for developer representatives to sit on the Board of Directors.

One of the principal areas involves unit resales and "upgrade" programs. For example, it is in the resorts interests to assist existing owners in selling their units when they want to move on. It is in the developers interest to make it difficult for owners to resell their units and to hinder publicity about the availability or resale units.

It's also in the developers interest to focus planning on the period when the resort will be in sales, and discount impacts that might occur after sales are complete.

***

But it's all moot anyway. By setting up the Hawai'i trust and selling trust interests instead of deeded ownerships, Sunterra has virtually assured itself of the ability to control the Board of Directors, since it's unlikely that the Trustee would ever vote the trust bloc for anyone other than a candidate recommended by Sunterra.