The Three Legs Of Fiduciary Duty

As a board member, when you rise to the position of a fiduciary it becomes a duty, not a just a responsibility, under California law and defined by the Secretary of State, to hold to three principles. Honesty, transparency and protection of assets.

People who visit this site should be reminded that this effort is to save our coop – and is not a political hit game. We are interested in having people on the board of directors who act in legal fiduciary capacity for the members’ interests of the North Coast Coop. This is a fiduciary duty, and, as such, can have nothing to do with politics.

In reality the political stripe of whomever squandered the three quarters million dollars is probably irrelevant to most shareholders.

Continuing with the inexperienced management who enabled this loss is not.

2 thoughts on “The Three Legs Of Fiduciary Duty

  1. Incompetence in management, top heavy spending, unenlightened buying/selling, non-identification of what our core values are in this community, perpetuated by dullards.

    My thoughts are this coop was destroyed by NCG and the union. Upper management submitted to NCG agenda, big time especially the career resume builder narcissistic GM KR. (When she was hired I looked at the financials from her last place of employment, the Durango Coop, and that market was down way down, and she tanked that business, destroyed a local market with her corporate style. I asked the hiring committee why they hired her if that was her record, the answer was it wasn’t her fault, competition moved in to town as Vitamin Shop was the explanation. What dullness can’t see the difference between a local community coop and a corporate business? )

    The union was implemented to buy out the middle managers and destroy the more important dialogue that needed to happen between the workers and the management. If the coop is to survive the union needs to get out of our business. A workers union is the most appropriate solution now with their own lawyers.

    I write this as a enlightened ex-worker who wanted success and a community market that responds to the needs of this community.

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  2. Nice comment. Everyone can value the input of people who are involved in the details and have direct experience. The story of how the Coop arrived here goes back more than four decades. The contributions of the former General Manager, Kelly Reese, are three years in the past. Our immedoate concern, now, is to remove the incompetence at the top.

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