Correcting two untruths in president Chooljian’s recent letter to shareholders

It is not true that any board candidate opposed Well #7.  Crestview was not forced to import water because a County permit for Well #7 was denied in September 2021; the cause was the board’s bad decisions about Well #4, which went dry a month earlier.

Mr. Chooljian’s letter, which … Read more

Board sitting on the fence about how to report Well #7 and Well #8 in the FY2021 financial report.

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 … Read more

Domineering Crestview president Sol Chooljian continues to lead a passive board, putting shareholders last–Part 3.

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.… Read more

What to expect in the Crestview board meeting at 4PM on Thursday, January 27 

Crestview spent $383,000 on Well #7 in 2021.  Total expenditures on Well #7 were $880,000 (exclusive of land).  Since the project was killed by the Board of Supervisors, that will have to be written off as a charge to earnings.

The project to lower the pump in Well #4 got … Read more

The board’s failure to budget for eminent domain costs is financial mismanagement that continues to risk Crestview’s solvency.

Crestview threatened several times to big-foot Well #7 into being by using its power of “eminent domain” or “condemnation.”  However, it never acknowledged that when a water utility takes private land for a public purpose it has to pay fair value.  Those compensation costs would have made the company insolvent … Read more

Two more misstatements in Crestview’s latest letter to shareholders

The letter with our January water bills states that the groundwater allocation lawsuit, going on since 2018, ís “directly responsible for 20% of the necessary rate increase.”  To the contrary, 100% of the increase pays for additional water purchases made necessary by the board’s negligent stewardship of Well #4, … Read more

The Crestview board falsely blames the rate increase on the Ventura County Board of Supervisors and “fierce opposition” to Well #7.

Crestview’s recent rate increase announcement was appropriately on a red card because what it says right after the new rates is a flagrant foul–denying the truth that the rate increase was due solely to the board’s mismanagement of Well #4 and falsely blaming it on the Well #7 fiasco.

Well … Read more

Crestview’s “strategy” for getting permits for Well #8 is to do the same things that failed for Well #7 and wasted $800,000. 

General Manager Robert Eranio told the board on August 26, 2021 that Well #7 had so far cost $1.3 million, including land.  The land may be saleable for near its purchase of price $505,000 but $800,000 will be a total write-off. Construction costs would have been in the neighborhood of … Read more