Last year there was an open board meeting agenda item for discussion that was taken off the agenda after a social media outcry. I am talking about the selection of an investment company to handle our quite substantial reserve funds of approximately $5m. The communication from the board was because of the attention received on social media, it was going to be shelved until a later date. NO open meeting discussion every took place on this topic, instead, a vote on who to award the investment contract to was taken behind closed doors.
End
Do you think it was right for the board to select an Investment company for our reserve funds behind closed doors?
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While I have no problems with having the meeting open for listening to the discussion and submitting comments, there is a lot of initial research and work that goes into even getting to the point of discussing which of the finalists should be invested in. It should be open for listen but not a free for all for input from people uninvolved through the entire process.
Didn’t know it was that much, not sure that’s correct. anyway. The returns so far on their selection have reaped good rewards, but that is not what this question is about. Owner discussion at the least should have happened. If they had a site like this, that would have been easy.
While I have no problems with having the meeting open for listening to the discussion and submitting comments, there is a lot of initial research and work that goes into even getting to the point of discussing which of the finalists should be invested in. It should be open for listen but not a free for all for input from people uninvolved through the entire process.
Didn’t know it was that much, not sure that’s correct. anyway. The returns so far on their selection have reaped good rewards, but that is not what this question is about. Owner discussion at the least should have happened. If they had a site like this, that would have been easy.