Shareholder Relations Committee: October 22, 2002





Attached and pasted in are the minutes from 10/22/02
Shareholders Relations Committee as reviewed and approved.
Andrew, please post to the List serve and site

Shareholder Relations Committee

Meeting Minutes

October 22, 2002

A meeting of the committee was held in the Basebox at Mad River.

The meeting was called to order at approximately. 6:10 PM.  Attending were
committee members Rich Aiken, Rocky Bleier, Fritz and Vivian Bronshofsky,
Bill Heinzerling, Irma Heeter, and Rick Moulton. Also attending were
shareholder Greg Carr and staff member Andrew Snow. Mr. Bleier acted as the
chair until Mr. Moulton arrived a few minutes later. Committee member Wendy
Bridgewater arrived later in the meeting.

Approval of Prior Minutes

The committee unanimously approved the minutes from the October 1st meeting
as submitted by Leigh Michl.  It was requested that Mr. Michl amend the
minutes to reflect additional facts added after the meeting to be included as
footnotes as they were not introduced at the meeting. It was also noted that
Lu Putnam is not the committee secretary, therefore Mr. Michl was the sole
keeper of the minutes for the Oct. 1st meeting. It was further noted that Mr.
Michl compiled a most through account of the meeting for which the committee
was very grateful.

Shareholder Comments

The committee next discussed an email letter received from Mr. Michl. In
regards to the committee’s mission statement, Mr. Michl suggested that the
committee think more broadly than just communications, i.e. the Echo or Chute
newsletters. He went on to name a number of “community building projects â€,
activities and actions. In the email, Mr. Michl expressed the opinion that
the Board wanted to approve a “package†rather than individual initiatives.

Mr. Michl’s suggestions prompted much discussion. . It was noted that the
committee had spent a considerable amount of time and some negotiation to
come up the current mission statement.  Just as with the strategic plan, the
multiple circle concepts will be used if needed. The committee feels that the
as amended board suggested mission statement will work, and can be “tweakedâ€
in the future if necessary.

Several committee members expressed frustration at an apparent lack of
historical context from the Board. Several members mentioned that most of Mr.
Michl’s suggestions and initiatives had been discussed and recommended to the
Board by the committee in the past. Board inaction or lukewarm responses to
the committee’s past proposals have discouraged members. It was noted that
both Management and the makeup of the Board have changed over the years. It
was agreed that there was a marked improvement from previous years. There was
a consensus that more cooperation is needed between the committee, the Board
and Management.

Mr. Bleier noted that the committee has made progress during the last couple
of years, albeit slower than most members would like. The presence of Mr.
Snow was noted as a positive sign that Management was serious about working
with the Committee unlike the past when both Management the Board did not
appear to be as concerned about fostering community or communications. The
fact that the president of the coop, Mr. Michl was actively following and
participating in the committee was acknowledged as a very positive sign.

Review of the “Special Edition†of the December Echo

The committee next discussed content for the upcoming Shareholder newsletter.
 There was some confusion as to the content and the length of the up coming
issue. Mr. Snow said he was under the impression that the upcoming issue
would be limited to one page with a write-up of the new election procedures
and a review of the Strategic Plan and Green and Gold presentation. Mr.
Moulton and several committee members questioned whether any restrictions had
been placed on the “special  issueâ€. It was decided to move on assuming that
the special issue would have at least as many pages as were need to air
information and letters that needed to be shared with fellow shareholders
before February. In the spirit of compromise it was acknowledged that it
would not be unlimited in length.  Mr. Moulton suggested that three pages
both sides would be reasonable. It was suggested that reviewing Board minutes
would reveal the Boards intent regarding the special issue.

Upcoming articles were discussed. Mr. Moulton reported on the list of
articles that he is expecting to include in the upcoming edition.
 As of our meeting he said they were:
        Letters from Lu
1. A praise and recap of Green and Gold this year
2. A call to shareholders to sell a share
Deb on the technical s changes to the election process
Leigh Presidents Message/ Strategic Plan process
Irma writing her perspective as one who participated in the town meeting
        Vivian is writing a letter
        Rocky writing to encourage possible candidates
        Rick’s report from SRC
Bill about the idea of a directory and a fun story

 The committee set a meeting for November 5th to review articles submitted
for the†“ special editionâ€.  At the behest of Mr. Bronshofsky, all members
agreed upon that letters to the editor that were clearly identified as such
would not be subject to rewriting. Any editorial clarifications should be
added at the end of the letter in Italics and sign editor in accordance with
normal journalistic practice. Articles will need to be reviewed to assure
they are passing on accurate information

Review of Green and Gold Weekend

It was the consensus of the committee that the G&G weekend was a tremendous
success. The committee commended Management and staff and the Board as well,
in contributing towards what many feel was the best G&G ever.

The committee was encouraged by the attendance at the  “Town Meetingâ€
Strategic Plan Presentation and shareholder discussion. Attendance was
considered to good, especially in light of an odd time and a beautiful day.
It was agreed that owner comments and questions would be incorporated into
the upcoming article on the Strategic Plan.

Several owners at the meeting had questioned the creation of a historic
district for Mad River.  It was noted that in a front page article that
preceded the G&G weekend, the (Waitsfield) Valley Reporter, had not reported
on the subject accurately.  Mr. Bleier brought attention to the fact that the
Board had yet to vote on what was reported as a done deal. In the ensuing 3
issues of the weekly paper, there had been no corrections or letters to the
editor pointing out the mistakes in the article. Mr. Snow took note of the

The next meeting of the committee will be on November 5th at 6PM.

The meeting was adjourned at 7:40.

A true record, I do attest.

Robin “Rocky†Bleier

Rick Moulton
Keystone Productions
P.O. Box 97
Huntington, Vermont 05462
Tel. 802 434-3629
Fax: 802 434-3529