Shareholders Discussing Crestview Mutual Water Co.
At the May 26 meeting Sol Chooljian challenged the board to remove him as president if they did not like the draft proxy form naming him and the secretary to exercise their discretion about how proxies are voted. Last year, the whole board had that power. A shareholder pointed out Continue reading In a petulant power play, Chooljian challenges board to remove him as president.
Shareholders should weigh in on whether directors should hand pick their successors this year or hold an open election. Everyone who has been a director in the 21st century has been appointed by the board to fill a vacancy created by a director’s resignation. However, there have been signs in Continue reading Will the board opt for an open election process this year or again block effective shareholder involvement?
On June 6, Crestview plans to mail to every shareholder FY2021 financial statements that clearly do not comply with state law. For the legally-required annual report reviewed by the CPA firm and containing all necessary adjustments and disclosures, shareholders are referred to a website, where that report does not exist—at Continue reading Board sitting on the fence about how to report Well #7 and Well #8 in the FY2021 financial report.
At its next meeting, the board will belatedly consider the FY2021 financial statements. Will it follow the rules or conceal the fact that the $884,607 Well #7 “asset” in fact has no value. It is appalling that this question has to be asked, but the board’s record of flouting the Continue reading Will the board keep Well #7 on the balance sheet at cost ($884,607) or write it off as worthless, as required by state law and accounting rules.
We 625 shareholders own valuable rights to the groundwater under our feet. Without those rights—and Crestview doing the pumping—we would have to buy all our water from northern California. We would have severe shortages and sky-high rates—and Crestview would be absorbed by Camarillo or Cal-American. The only reason Crestview exists Continue reading The world has changed. Crestview should develop a new strategic plan before evaluating or funding any capital project.
The Crestview board delayed for four years lowering the pump in Well #4 just so they could say we needed Well #7 because Well #4 was “going dry.” That cost us about $365,000 extra in 2021 to buy imported water that Well #4 would have pumped with a lower pump. Continue reading Domineering Crestview president Sol Chooljian continues to lead a passive board, putting shareholders last–Part 3.
A delay in the Well #4 project will probably require Crestview to start buying this month imported water that costs ten times as much as pumped water. This can be avoided only if shareholders immediately get on board with Crestview’s new mandatory conservation plan. Let’s all adjust our sprinklers today! Continue reading Another delay in the Well #4 project makes our consumption cutbacks even more urgent.
In its April 28 meeting, the board again flagrantly violated the Mutual Water Company Open Meeting Act. A shareholder pointed out in the March 31 board meeting that discussions in executive session are required to be “generally noted” in the minutes of the open session of the meeting. The general Continue reading Domineering Crestview president Sol Chooljian continues to lead a passive board, putting shareholders last–Part 2.
On April 28, the Crestview board adopted a plan of mandatory conservation measures intended to cut total use enough to supply our whole system exclusively with ground water. Landscape watering will be limited to three days per week, nighttime only, and no more than 15 minutes per station. There are Continue reading New conservation plan aims to cut use 20% and stop buying imported water.