With Power Comes Responsibility

Shall we bet on indifference ?

In so much as this is a Cooperative Corporation open to the public, the North Coast Co-op is a rare, but sturdy bird. That sturdiness springs from community ownership. For this reason, unlike privately held businesses, it important that the public, shareholders/ members, be informed – to the greatest degree possible – of what is going on so that trust is not eroded.

This did not occur.

The most glaring recent example of this breach of public trust was at the general shareholders meeting in November. In the first 20 minutes, the President/CEO Colin Fiske railroaded through a rather fairy tale document known as The Five-Year Plan. Produced with many hours and large cost, it had pages and pages of fluffy frilly “everything is wonderful” verbiage about new projects that Coop was planning to be involved in. The last printed topic at the back was the fluffy financials. In it no one mentioned the fact that these irresponsible goofs had clearly wasted our operating capital buffer – and that the General Manager of the coop was going to have to hock our building and borrow a half million dollars to even keep the bills paid. 

We are an area and community with vast resources.  

That we will allow these fools to continue

–with no experience, little understanding and only slight honesty —

-due to member complacency –

is exactly their plan.

That, and “hope”. 

4 thoughts on “With Power Comes Responsibility

  1. Some of us could see the writing on the wall; the top managers were egotistical self aggrandizing & clueless lacking any business acumen and experience. They most likely mortgaged the Arcata Coop Property and used it to float their totally inappropriate business ventures…upon the advice of whom? Security National, NCG Fiske?

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  2. No worries NCG will bail them out and then truly the Coop is lost. Why doesn’t anyone do their homework and look at other successful independent local markets like Olivers? Are you aware of the other community markets that aren’t sold out to corporate interests? The point being that there are answers but not if you have only one source of advice from those whose interests are to keep your investment under their control, this makes the Coop CEO and GM paid ignorant pawns.

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  3. BTW Murphy’s is basically “owned” by their main distributor, United Grocers. They will never get to the level the coop used to be, with really bizarre management, get your out of date honey bunches of GMO’s!

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  4. BTW a market is a place where you buy and sell product, let’s keep it simple.
    Successful buying depends on experience, and selling depends on analysis of the demographic…!

    Liked by 1 person

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