{"id":337,"date":"2023-05-17T17:28:46","date_gmt":"2023-05-17T17:28:46","guid":{"rendered":"https:\/\/scwcshareholders.org\/?p=337"},"modified":"2023-05-17T19:58:42","modified_gmt":"2023-05-17T19:58:42","slug":"5-16-board-meeting-recap","status":"publish","type":"post","link":"https:\/\/scwcshareholders.org\/?p=337","title":{"rendered":"5\/16 Board Meeting Recap"},"content":{"rendered":"

Three biggest takeaways from the meeting last night, none of which were actually on the agenda:<\/p>\n

    \n
  1. \u00a0The company is attempting a new well at Cambria\/Mescalero Rd.\u00a0 As of last night, the rig has drilled down to 320′.<\/li>\n
  2. \u00a0The board will no longer use Zoom for remote participation.\u00a0 There will be no remote participation.\u00a0 In person or not at all, from now on, at board meetings.\u00a0 This does mean they are unable to turn anyone away from the meeting as long as 24 hours written notice of intent to attend the meeting is provided in advance. The board discussed meeting in the garage from now on (not kidding).<\/li>\n
  3. \u00a030% of the water pulled from the wells\/tunnel in April disappeared.\u00a0 For the year, that means just over 25% of the water has been wasted (10% is the accepted industry standard).\u00a0 That’s quite a bit of money down the drain.\u00a0 The GM said it might be due to faulty meters, and that’s why the company is working on upgrading meters.\u00a0 They replaced 3 meters in April and 2 in March, and with 1,200 current meters in use, obviously this is a problem that won’t be fixed anytime soon.\u00a0 If this is a meter issue and not a leak the company doesn’t know about, then some customers are getting lots and lots of free water at the moment.\u00a0\u00a0 If that’s you, enjoy it!<\/li>\n<\/ol>\n

    Other items that were on the agenda:<\/p>\n

      \n
    1. \u00a0A customer with one share had a water leak in March, and received a $2000+ water bill in April that he can’t pay.\u00a0 He petitioned the board for relief on the large bill, and was denied.<\/li>\n
    2. A great deal of time was spent discussing the share buyback plan – with the board secretary tasked with writing up the details of the plan.\u00a0 This one is a little weird.\u00a0 What exactly did the shareholders vote on if the company is going to go making changes to the plan proposed at the annual meeting?<\/li>\n
    3. Sheep Creek is finishing their well rehabs with Well 8, which is fine and all if a little confusing since there haven’t been issues with this well.\u00a0 It does seem like the company has more money than it knows what to do with thanks to Tier 3, so the board is trying to figure out how to spend it.<\/li>\n
    4. Dave Nilsen is going to train the board on how to use Robert’s Rules of Order.<\/li>\n<\/ol>\n

      Finally, the company lawyer was in attendance, which is highly unusual.\u00a0 There was nothing on the agenda for him, so it’s a mystery why he was there.\u00a0 An expensive mystery, obviously, but the company clearly has money to burn.\u00a0 The lawyer only spoke once, making a suggestion about the share buyback plan.<\/p>\n","protected":false},"excerpt":{"rendered":"

      Three biggest takeaways from the meeting last night, none of which were actually on the agenda: \u00a0The company is attempting a new well at Cambria\/Mescalero Rd.\u00a0 As of last night, the rig has drilled down to 320′. \u00a0The board will no longer use Zoom for remote participation.\u00a0 There will be no remote participation.\u00a0 In person…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-337","post","type-post","status-publish","format-standard","hentry","category-sheepcreeknews"],"_links":{"self":[{"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=\/wp\/v2\/posts\/337","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=337"}],"version-history":[{"count":11,"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=\/wp\/v2\/posts\/337\/revisions"}],"predecessor-version":[{"id":348,"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=\/wp\/v2\/posts\/337\/revisions\/348"}],"wp:attachment":[{"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=337"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=337"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/scwcshareholders.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=337"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}