Attending were Rick Moulton,chair, Jane Bancroft, Irma Heeter, Bill
Heinzerling, Wendy Bridgewater.
Meeting officially started at 6:15 p.m.
rma passed around a design and specification sheet for a shareholder
pin. The idea had been discussed and initiated at previous meetings. The
committee liked the design and colors. Rick will shop around and get some prices from his sources. It was agreed by the group that shareholders can pay the cost for this pin if they want one. Five dollars was mentioned as a reasonable cost. Rick said that the cost he thought would less than that, closer to half that price. It was noted that the pins could be sold at cost. Moulton noted that if the coop sold them at a reasonable rate the additional monies could go towards funding other Coop things.
RECOMMENDATION: That the Board approve the pin design, discuss price, and how a shareholder can secure one.
The bulletin board (downstairs for shareholder’s only) was discussed at
Length. The discussion centered upon who is responsible for updating it. The committee thought is was the staff/liaison person’s responsibility. The committee’s responsibility is to get the latest minutes to the staff person as quickly as possible. The Board is responsible for doing the same with their current minutes.
t was noted that the Shareholders bulletin board seems neglected when as of this 3/4/03 meeting, the SRC minutes of Dec. 3rd were still up and we have had two meetings (Jan.7th, Feb. 4th) since then. The web site is not up to date either. Rick explained that he shares some of the blame as the corrected minutes were slow getting to Andrew. He said that he would be checking it out to see how we can improve the sense of care and attention to the Shareholders Bulletin Board . The last Board meeting minutes posted were Jan.11th. The committee noted that the strategic plan has been up for quite a while and that the candidate bios should be put up to replace it along with the current up to date minutes. After a few months, the stuff gets stale and nobody reads it anymore so it should be groomed more often and old stuff removed.
Rick is also checking up on the 2nd issue of the Co-Op News Letter that was supposed to be mailed out in February. The writer’s of the articles got them in by the deadline. The deadline for the next Echo will be posted on e-mail and the bulletin board so people can get their letters/articles in on time. The Co-Op News is on an as needed basis.
RECOMMENDATION: That the Board separate out the actual cost of COOP specific expenses and keep a separate balance sheet from Marketing / Promotion. The coop budget would only have coop business costs; such as Coop News, board approved social events, the pin idea, and other coop line items.
Discussion about the needs of certain coop expenses brought out the conclusion that it is reasonable to budget money for coop only expenses. This would help avoid misunderstandings with mountain marketing and management and allow the Board and the committee to be more directed in the specifics of Shareholders relations.
Share Sales were brought up. In the discussion that followed, Wendy referred us to her article in the Coop News in which she suggested new incentives for people to buy a share, especially the fence sitters.
RECOMMENDATION: After you pay your $200.00 APR real money up front, any mad money purchased would be available at 20% discount. Example; $100.00 worth of real money after you have satisfied your APR would get you $120.00 in mad money to be spent on services at the Area. This really does not cost the Co-Op anything and more people are aped to buy mad money which can be tracked to help see how much shareholder’s are spending at the mountain. A lot of us use real money for services and it is never tracked. It’s a win-win situation for the Co-Op It offers a left handed way to extend a 20% added value to Shareholders on Mad River services that can be paid for with Mad Money. Besides encouraging the sale of more Mad Money, such a tangible benefit may encourage hold outs to buy a share.
Rick commented that we need to appeal to, and go after our natural targeted niche rather than the masses who would be happier at Sugarbush and probably would not consider buying a share anyway…
rma suggested that share sales costs come under running the Co-Op business’ budget.
RECOMMENDATION: That a sub-committee of the SRC be established to work with share sales in conjunction with the staff/share sales person. This gives the visual perception to others that we are working together and doing something to promote the Co-Op and sell shares. The committee agreed that the shareholders are an important
vehicle to sell shares.
Rick passed out to the committee the outline for the community relations
and communications plan to look over and contribute to at the next
meeting. The consensus of the group is that shareholder relations is an
ongoing month to month task dealing with owner’s concerns and interests as they come up. This outline/plan will help guide us to achieve our
objectives with a lot less conflict and misunderstanding. It will set procedures, duties and expectations.
Jane brought up the fact that shareholder’s can get the current list of
names from the office, but must sign a waiver to the effect that it will
not be used for commercial purposes and is to only be used to contact your fellow shareholders for Co-Op related business.
Rick took blame for not passing out the copy of the suggestions put in the box. He did concede that management has not kept up on a monthly basis. When they did finally get the report to him last week, he had neglected to forward this report to the committee. The committee affirmed that these reports are supposed to come out on a monthly basis to the board and the committee. It was stated that the committee thought it had an understanding that we were supposed to get a copy of the full list of suggestions rather than an amended version.
Bill shared with us that he is working on a new no-stop no-fall pin.
rma brought up that during the Jan. 7th meeting, it was discussed, and I
believe recommended to the Board, that we start thinking about a ten year anniversary bash for the Co-Op and to start setting aside some money now. We started in 1995 and in 2005 the Co-Op will be ten years old.
Next meeting will be held on Tuesday April 1st at 6:00 pm in the basebox. Note this is four days before the Annual Meeting.