The Grundke's
LETTERS
Raid on Laguna Woods' Palmetto Bugs
Laguna
Wood Village,
CA - 08-07-2010
Election time is here again. To select knowledgeable candidates, ask them the following questions:
1. How much money was paid to PCM staff for the Incentive Plan Bonuses from 1996-2006? ($5.2M!)
2. Is there documentation from any of the Boards that specifically authorized the implementation of the incentive plan? (No!)
3. Who implemented the plan and defined the bonuses? (The PCM General Managers, Disbro and Johns)
4. Is there any reference to these employee payments in any of our general ledgers? (No! With the exception of a F.I.C.A. Incentive Accrual account and are they familiar with this account?)
5. Have any past Directors reviewed and authorized the Incentive Payments prior to 2006? (No!)
6. Are you familiar with the compilation of PCM documents in the “Yellow Book”? (They better be!)
Unless a candidate understands these major problems facing our mutuals, they are not qualified to make decisions that will impact all the residents in LWV.
Conrad
Grundke
| Editor's Note:
For context, Mr. Conrad's tutorial comes
on the heels of the Third
Mutual having filed a lawsuit against its property
management company, PCM, Janet Price and
Milt Johns.
The lawsuit, if
it proceeds, is expected
to shine the light to a whole slew of
previously asked and as of yet
un-answered questions. Subsequently, the defendants filed a demurrer, largely seen by some residents as a delaying tactic until new elections can take place, given that Isabell Meunnichow, Denise Welch and Sy Wellikson, three of the biggest PCM supporters and former board members during the secret incentive/credit card era are running for the Third Board. If they are elected it is speculated that the pendulum will swing the balance to a pro-PCM |
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