"Why don't you go..."!
Spent the last few weeks listening to many people analyze the big
loss in the SECU Board election. And yes, it was a big loss, and no it
wasn't because it was "rigged", or that "they" cheated, or because everyone who
"voted wrong" was uninformed.
Hope we all remember that this week! Having the freedom to choose our leaders every now and then is perhaps more important than who happens to be in charge until the next election. We can always throw the... well you know. At least, lets hope ithat's still possible.
Asked all kinds of folks what they thought, including avid supporters and fierce adversaries, current and former board members, current and former employees, advisory board members, media folks... most anybody who has provided advice or told me where to go over the past 18 months. As you might imagine the responses ranged from the emotional "Remember the Alamo" to a strong encouragement for me to go "get intimate with myself". If your name appeared on one of those many email requests: Thanks for the feedback... well mostly.
Was struck by the following thoughts and comments:
1)
Give the board some space over the next six months. Let the performance
of the CU and the board play out for a while. The board has not been
receiving complete information. The board may not have been paying
attention, it is now.
2) The one thing that needs to be done
is to try and better inform the membership about how SECU is different
as a cooperative. Members need to understand "what's in it for them".
3) Your candidates were an odd mix and not diverse. Hurt your chances.
4) Explain, explain, explain. Don't just criticize, present alternatives, and why.
5) Stop sounding disgruntled and speak as an "activist investor".
6) Focus on the board, emphasize accountability. Leave the staff out of it.
7) Process for assuring contested elections is firmly in place, if needed.
8) Give it up; can't overcome the $$$ and power of incumbency. It is what it is.
9)
The member-nominated group was more successful than might appear.
30,000 votes was amazing in a short time, 60,000 votes "for" out of 2.8
million with all the money spent wasn't exactly a mandate.
10) The members may "have spoken", but there is always next year. Watch and wait, see what happens. The truth will out.
If you didn't get a chance to speak or vent, would
welcome your additional thoughts and comments.
Hope that #10 above applies to November 5th in the USA! But, given all the
possibilities for the next few days, I'm heading for a bunker.** ** Bought out all the baked beans and most of the peanut butter and crackers at Food Lion. Western N.C. folks had already cleared out the toilet paper... see you whenever!
