2012 Accounts and Notice of AGM

uglysteve · Post by **uglysteve** » Mon Oct 22 2012 7:58pm

Luke_PieStalker wrote:
kevinchess1 wrote:I hav a Q
Will Norwich win this weekend
Projections say that is about as likely as RPoints appearing on the FTSE 100 anytime soon.

.........

(rushes off to buy shares)

timco · Post by **timco** » Sat Oct 27 2012 11:40am

Can I ask why the company does not have any independent directors tasked with making sure that members interests are looked after? Maybe an independent chairman say... I am not saying you will not Richard it is just it would surely stop any accusations that can be levelled at you personally.

Sadly in this world if you leave a door open someone will take advantage of it and then blame you for not shutting locking and barricading it!

macfamily · Post by **macfamily** » Sat Oct 27 2012 12:53pm

timco wrote:Can I ask why the company does not have any independent directors tasked with making sure that members interests are looked after? Maybe an independent chairman say... I am not saying you will not Richard it is just it would surely stop any accusations that can be levelled at you personally.

Sadly in this world if you leave a door open someone will take advantage of it and then blame you for not shutting locking and barricading it!

I agree - but costs would increase

- I think Richards partner is also a director - perhaps this is our version of an independent director right now?

Mel · Post by **Mel** » Sat Oct 27 2012 6:57pm

timco wrote:Can I ask why the company does not have any independent directors tasked with making sure that members interests are looked after? Maybe an independent chairman say... I am not saying you will not Richard it is just it would surely stop any accusations that can be levelled at you personally.

Sadly in this world if you leave a door open someone will take advantage of it and then blame you for not shutting locking and barricading it!

It is very much in Richard's interests to look after members' interests as without members he doesn't have a business. I am entirely statisfied that he has done so, and confident that he will continue to do so.

kevinchess1 · Post by **kevinchess1** » Sat Oct 27 2012 7:36pm

Hard 2 belive but I agree with Mel

Ry and the current Mrs Yendall din't take a penny in wages last year.
And who would you appoint?
It would hav 2 be someone with time on their hands but a V light touch and UNPAID
certainty in years to come might be a V good idea

Richard Frost · Post by **Richard Frost** » Sat Oct 27 2012 8:21pm

Mel wrote:
timco wrote:Can I ask why the company does not have any independent directors tasked with making sure that members interests are looked after? Maybe an independent chairman say... I am not saying you will not Richard it is just it would surely stop any accusations that can be levelled at you personally.

Sadly in this world if you leave a door open someone will take advantage of it and then blame you for not shutting locking and barricading it!
It is very much in Richard's interests to look after members' interests as without members he doesn't have a business. I am entirely statisfied that he has done so, and confident that he will continue to do so.

Dittoer

Post by **richard@imutual** » Sat Oct 27 2012 8:59pm

timco wrote:Maybe an independent chairman

I'm open to suggestions. In the past, some mutuals have proposed the idea of a 'member director' who could sit in on (some) board meetings. Though in practice I suspect this may have been something of a PR gimmick

Perhaps you could elaborate on what kinds of potential problems you foresee (in the absence of an independent director)?

Would this be a paid position? In which case we'dneed to be sure the position was fully justified. Or perhaps, amongst our membership, we could find a volunteer with suitable experience to come and meet with the directors (if only once a year) and perform a kind of 'non-financial audit' role on behalf of the members

I am sure the time will come when the company needs more than two board members, perhaps including someone whose role is specifically to act as a 'check' on the other directors. Though it may be that, at present, we are not large enough to justify that

Of course, anyone can 'check' on what we're going at any time by asking questions on this forum

Post by **richard@imutual** » Sat Oct 27 2012 9:01pm

macfamily wrote: I think Richards partner is also a director - perhaps this is our version of an independent director right now?

LOL. Yes,Mrs Y doesn't let me get away with anything

kevinchess1 · Post by **kevinchess1** » Tue Oct 30 2012 10:22pm

Does the director know who voted yes/no?
What was Michelle paid?

Post by **richard@imutual** » Wed Oct 31 2012 10:26am

We don't publish employee salaries, only those of directors. I think that's appropriate

Re: voting data. As your votes are stored on our database/server and are (necessarily) linked with your account, then effectively we do have the means to see who voted and how. I'm not in the habit of doing so but I can see that this might raise theoretical concerns with some people; in the short term I'm not sure what we can do about it, lacking the funds to employ an independent agency to administer the voting. Until such time as we do, I guess I just need to ask you to trust me not to use my access to such data in any way that could be deeemed improper

I should add that I would nevertake a 'no' vote personally; it's very useful to know if we're doing a good job or not and to get constructive criticism, though I would hope people would express that via the forums before resorting to ejecting a director

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