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+--- Thread: HPP Biz (/showthread.php?tid=16093)
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RE: HPP Biz - caveat emptor - 01-15-2018
Seeb, you state "On the first one ‘ the banks ‘ agent was one of the board members. And the bank only cares that you can pay, not if someone is skimming".
May I ask who told you that during the negotiation for the 1st bond that a banks agent was on the board? I haven't heard that one before, if I understand your comment correctly I have to tell you that you have been misled and I'll bet the origination point is Jo Maynard, who was the district 5 director at the time when much of the falsehoods started about the original bond. I have to believe that much of the falsehoods were started on purpose because they are so ridicules when you know the facts.
The 2 main directors that worked on the bond were the board pres. and a retired judge. No one on the board was an agent for the bank, which by the way was Piper Jaffray.
Your 2nd point is basically right, no one is scrutinizing us except us. The new bond owners only care that we make our payments. Until they get notice from someone that there is trouble in Paradise.
Even when the forensic analysis is completed and IF there were any corrupt or illegal shenanigans taking place, they will only care about our solvency, making the payments and how the shenanigans were dealt with.
RE: HPP Biz - Kenney - 01-15-2018
IF there were any corrupt or illegal shenanigans taking place, we the Membership want to know who, when and how much of our money was diverted . The Forensic Analysis will determine these facts. From there, necessary actions will be taken to name the culprits and deprive them of the power to gain access to our money.
There is absolutely no reason there should be so much resistance to this Forensic Analysis, a legally voted on act of the Membership, by the Majority Board unless they have something to hide. We are not asking THEM to pay for it.
RE: HPP Biz - Seeb - 01-15-2018
Caveat Emptor - I was at the meeting when the first bond was approved! Don’t remember what his official title was, but the board member didn’t even switch seats when he went from board member to broker. Find the minutes from that meeting.
RE: HPP Biz - TomK - 01-15-2018
"Tom, have you seen the forensic analysis thread? Looks to me like these people are doing something about it, not "whining" about it. . You brought obie into the conversation yourself."
Leo - are you being serious? Look back to your own post on Jan 13th in this thread. I'm certainly not the one who brought Obie into the conversation - you did.
RE: HPP Biz - leo - 01-15-2018
Yes I did but what is it to you? There's been too many disagreements between us over this instigator who is not worth one more ounce of my energy. I have no beef with you. You have had your own obsessions with a certain person on TMT so you are no different than I. Can we move on now?
RE: HPP Biz - Kenney - 01-15-2018
Please...
RE: HPP Biz - caveat emptor - 01-15-2018
quote:
Originally posted by Seeb
Caveat Emptor - I was at the meeting when the first bond was approved! Don’t remember what his official title was, but the board member didn’t even switch seats when he went from board member to broker. Find the minutes from that meeting.
seeb, thanks for the additional information, that is helpful. I'll look into it. I have a couple ideas but I'll try to verify.
RE: HPP Biz - caveat emptor - 01-16-2018
seeb , here is what I have learned. Making the assumption that you attended a board meeting, the people present, who you saw there, were one or two bank reps invited to speak to the board to answer questions. I don't know if they both appeared to speak at the same time or individually at more than one board meeting but both were here. I looked at our fabulous HPPOA web site to read the board minutes but they only go back to 2009 and not to 2007, which is what we want.
One of the speakers was Steven Gortler who, at the time worked for Piper Jaffray. The other fellow was probably a bank rep but I couldn't get his name, he may have worked for Union Bank which became our bond trustee. Gortler just so happens to be the same fellow who was invited here to speak to the board for the new bond. This time representing himself for his own bond brokering business.
The important part is that there was no board director who was a bank rep too. Now, you should also know that one of the men who spoke to the board was the retired judge I mentioned earlier, he was the Finance Committee chair at the time. He was not a board director at that time. Apparently in 2007, the treasure who was a woman, did not have to be the chair of the committee as is now required in the bylaws adopted in 2010.
The FC chair spent hundred of hours working with all of the attorneys involved and with researching the best possible financing we could have gotten at the time (remember it was 2007) interest rates were much higher. The banks back then only wanted 3 year terms and since we didn't have collateral, just like today, the bond was the best option and that is why the board approved it.
RE: HPP Biz - Seeb - 01-16-2018
Someone has to have a copy of those minutes I wasn’t the only one pissed about it. There has to at least be a list of who has on the board- Frank Annin (sp?) was president. It was middle age white guy with dark hair.
RE: HPP Biz - caveat emptor - 01-16-2018
quote:
Originally posted by Seeb
Someone has to have a copy of those minutes I wasn’t the only one pissed about it. There has to at least be a list of who has on the board- Frank Annin (sp?) was president. It was middle age white guy with dark hair.
Unfortunately, as I understand it, the minutes maybe stored on a server under the control of a previous IT company. The unfortunate part is, and I don't remember all the details, that company is holding them because of the mismanagement/screw up of our board in dealing with that company. So as far as I know they still exist but are not available until an adult board has an opportunity to straighten that fiasco out. One other important point, guess who was on the board at the time and was going around telling everyone and anyone that the owner of that company was reading all the board directors emails on that server? If you guessed Jo Maynard you are correct and of course once she started that lie, because it is a lie, some other directors started repeating it. I'm not sure where it is legally.
The BOD members at the time of the original bond were; Frank Annin; Pres.; Ron Phillips. VP; JoAnne Backman, Treasurer; Lloyd Cabral, Sec.; Bill Carlson; Lucas Clebsch; Allan Medeiros; Les Pederson and Robin Wright.
Reading their bios, they were all very professional people. Quite a few with outstanding financial backgrounds.
Isn't there a saying about the"good old days"?