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Mad River Glen Cooperative

Board of Trustees Organizational Meeting Minutes

Sunday, April 8, 2007

 

After due notice, a meeting of the board of trustees of the Mad River Glen Cooperative was convened at 9:09 p.m. on April 8, 2007 in the Office Conference Room at Mad River Glen Ski Area ( "MRG") in Fayston, Vermont.

 

Trustees Jay Appleton, Paul Finnerty, Jed Kalkstein, Eric Schoenholz, Lars Bruns, Steve Mackenzie, and Geordie Hall were present. Trustees Bill Reynolds and Rick Moulton were absent. Also present were staff member President Jamey Wimble, and shareholder Dot Helling.

 

CALL TO ORDER

Jay Appleton, chair, called the meeting to order at 9:09 a.m.

Jay Appleton welcomed newly-elected Lars Bruns to the Board.

 

SHARE PRICE INCREASE

Following up on the December 9, 2006, meeting, Jamey Wimble requested that the Board decide on the new share price, which will go into effect the following day. The staff recommendation was $2000.

 

The Board discussed different prices reflecting the value of the new Single Chair, as well as a share value based upon the Consumer Price Index. Geordie Hall voiced concerns about the effect of section 9.6 of the Bylaws (Redemption) upon share sales, and suggested that discussion of share pricing should be linked to amending section 9.6. Other Board members felt that the discussion of the two did not need to be linked. Jay Appleton said he would put consideration of section 9.6 as a discrete item on an agenda during the upcoming year in time for the 2008 ballot.

 

It was noted that some shareholders felt that the proposed $2000 price was too low given the new lift and other improvements the Co-op has made.

 

Eric Schoenholz recommended that the Board consider increasing the share price at three-year intervals.

 

Upon motion duly made by Geordie Hall and seconded by Steve Mackenzie, and amended by Eric Schoenholz, it was unanimously

 

Voted: That the share price shall increase to $2000 on April 8, 2007.

 

BOARD OFFICERS

The Board discussed election of officers. Upon motion duly made by Jed Kalkstein and seconded by Steve Mackenzie, it was

 

Voted: That the following trustees serve as The Board's officers:

Chair – Jay Appleton

Vice Chair – Bill Reynolds

Treasurer – Eric Schoenholz

Secretary – Lars Bruns

Each position was voted for separately. The positions of Vice chair, Treasurer and Secretary were unanimously approved. For the Chair vote, 6 voted trustees voted in favor with Geordie Hall abstaining.

COMMITTEE ASSIGNMENTS

 

Committee

Chair

Vice Chair

Executive

Jay Appleton

Bill Reynolds

Finance

Eric Schoenholz

Jed Kalkstein

Single Chair Campaign

Geordie Hall

Bill Reynolds

Board Development/Elections

Paul Finnerty

Jed Kalkstein

Facilities

Steve Mackenzie

Rick Moulton

Personnel

Jay Appleton

Bill Reynolds

 

Lars Bruns volunteered to sit on the Finance Committee. Other committee assignments remain unchanged.

 

Next Meeting

Upon review of the calendar, it was determined that the next meeting of The Board will be on Saturday, June 2nd at 8am in the Basebox. This meeting will include review and discussion of proposed capital expenditures and '07-'08 season pricing.

 

ADJOURNMENT

There being that it was snowing, the lifts were turning, and no further business to come before the board, the meeting adjourned at 9:53 a.m.

Respectfully submitted, Jay Appleton

 

A true record.

 

Attest:

_________________________________

Lars Bruns, Secretary

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