11-27-2017, 11:03 AM
About 80 people turned out to the meeting.
Two resolutions were put to the membership:
It did. Barely. With 67.5%.
With attendance of about 80, that means it passed by a single vote.
The second was:
It passed with 70.1%.
The meeting itself was beset with countless technical issues. The video conferencing with Hamilton regularly cut out. There was about 40 minutes of technical troubleshooting over the course of what was originally supposed to be a 90 minute meeting. It ultimately ran about 2h15m.
Two people who had been members of the board after the AGM back in October (but, tellingly, were no longer on the board) spoke out against the sale. (Full disclosure, one of those is my wife)
It was a really bad way to see the co-op go out.
Two resolutions were put to the membership:
Quote:Be it resolved that the Co-operative is authorized to sell all or substantially all its assets on terms acceptable to the Board of Directors.This required a 2/3 majority vote to pass.
It did. Barely. With 67.5%.
With attendance of about 80, that means it passed by a single vote.
The second was:
Quote:Be it resolved that, following the realization of the Co‑operative’s assets, and payment of its liabilities, an application to dissolve the Co‑operative be authorized.This only needed 50%.
It passed with 70.1%.
The meeting itself was beset with countless technical issues. The video conferencing with Hamilton regularly cut out. There was about 40 minutes of technical troubleshooting over the course of what was originally supposed to be a 90 minute meeting. It ultimately ran about 2h15m.
Two people who had been members of the board after the AGM back in October (but, tellingly, were no longer on the board) spoke out against the sale. (Full disclosure, one of those is my wife)
It was a really bad way to see the co-op go out.