National Coop Grocers [NCG] backs away!
There is some recent good news regarding the developments, or lack thereof, with our North Coast Co-op. The good news is that the main conspirator (with ownership/takeover intent) has pulled out of an offer they made to take over management and administration of the NorthCoast Coop. After giving Trumpenhausen and Fiske YEARS of poor advice, (which these two novices swallowed hook, line and SINKER), -NCG has withdrawn their offer-. This is a marvelous stroke of good luck. When contacted by phone, the NCG representative was reluctant to speak about the reason for pushing away from the table. No matter how this reorganization comes down – it will be OUR LOCAL COOP.
This came about through the ONE positive thing Colin Fiske has done.
Fiske has stubbornly resisted giving any control to these highly accomplished takeover artists. Mr. Fiske is known in this community as a pretty stubborn control freak, to a flaw. But just like grandma’s broken kookoo clock in the closet – which is right twice a day Fiske’s flaw has worked in our favor.
In any case, this is a big deal. Why?
Well, and before we all heave a sigh of relief, the other side of the coin reveals an ominous point. That point is that the only other banking source for the North Coast Co-op, other than Redwood Capital Bank (who owns the Eureka store), has now backed away from supporting the current configuration of mismanagement and buffoonery Trumpenhausen and Fiske represent.
This may be beneficial in the bigger picture, long term. Due to the additional fact that Colin Fiske has unilaterally decided there will be no recall vote in November, the possibility of a bank receivership committee taking control and yanking them out of the wheelhouse has gone up dramatically. The longer Trumpenhausen remains as General Manager, the greater it reflects on the lack of fundamental business understanding by Fiske and Kloor (the “Treaurer” LOL).
One glaring current example of ongoing incompetent echo chamber nonsense: During last week’s Finance Committee meeting, Trumpenhausen & Fiske continued to tout the successful investment of huge money into a deli island in the Eureka store. Jeezum, it only took them 3 years and $ 600,000+ – and all we get is a twelve foot long free standing hot/cold self serve deli bar installed in someone else’s building and located in a failing section of crumbling industrial district? They are counting on the local newspapers, (who all need advertising income), to continue printing “fluff and puff” horsepukky stories that they, essentially, just make up.
So what does it mean?
The scenario of a bank receivership is actually the more desired outcome at this point because of the intransigence coupled with the inexperience and hubris of Bettenhausen and Fiske. Its not that they “will” sink this ship. They have already. No money. Hello? Hello?
Trumpenhausen glibly reported that ” “the audit shows we have enough money until April..”
Hey ! Its April !
Fellow members, we let this happen. Out-of-towners, exhibiting MASSIVE INCOMPETENCE under our noses, were voted in by less than 400 votes cast in an organization with more than 20,000 active members.
Its not getting better! There is still only VERY small change in the bank. At least $600K in cash is squandered. How will this end ? Even professional Coop takeover artists are now backing away.
Trumpenhausen & Fiske think they have control, and because they really have no other options (now that growing cannabis in a large garage behind your house is illegal) – they cling to their seats – and democracy be damned…
Wanna buy some C Shares ?