
{"id":11914,"date":"2010-08-11T13:20:54","date_gmt":"2010-08-11T21:20:54","guid":{"rendered":"http:\/\/www.carrborocitizen.com\/main\/?p=11914"},"modified":"2010-08-11T13:22:45","modified_gmt":"2010-08-11T21:22:45","slug":"letter-co-op-concerns","status":"publish","type":"post","link":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/2010\/08\/11\/letter-co-op-concerns\/","title":{"rendered":"Letter: Co-op concerns"},"content":{"rendered":"<p>As an active worker-owner with Weaver Street Market cooperative, there is no one who wants to hear good news about The Weave more than me. Provided it is genuine good news. And in that regard, the 2010 Report of the WSM board of directors gives rise to certain concerns.<\/p>\n<p>I am concerned as to whether or not the reported $300,000 profit for 2010 takes into account the $1 million in bank interest that needs to be paid (each year) on our continuing $8 million long-term debt.<\/p>\n<p>I am concerned that there is no announced plan for tackling the remainder of that long-term debt other than continuing to ask the co-op\u00e2\u20ac\u2122s workers to work harder for less \u00e2\u20ac\u201c which the board of directors and the corporate office of WSM have done these past three years.<\/p>\n<p>And I am concerned that there is no meaningful appreciation of the fact that it is the sacrifice and hard work of those same workers that has been the primary cause of any financial turnaround in Weaver Street.<\/p>\n<p>Two years ago, the annual meeting of WSM\u00e2\u20ac\u2122s owners supported my call for a Financial Review Committee to devise options for dramatically reducing the debt, rather than simply demanding year after year that the co-op\u00e2\u20ac\u2122s workers work harder for less. The board ignored the expressed wishes of their owners and refused to form the committee.<\/p>\n<p>If we were to erase our long-term debt (and the annual interest payment of $1 million), we would be able instead to invest that $1 million in improved product and customer service, and we would no longer have to go on making impossible demands of our already overstressed workers.<\/p>\n<p>GEOFF GILSON<br \/>\n<em>Weaver Street worker-owner<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>As an active worker-owner with Weaver Street Market cooperative, there is no one who wants to hear good news about The Weave more than me. Provided it is genuine good news. And in that regard, the 2010 Report of the WSM board of directors gives rise to certain concerns.<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-11914","post","type-post","status-publish","format-standard","hentry","category-opinion"],"_links":{"self":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts\/11914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/comments?post=11914"}],"version-history":[{"count":2,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts\/11914\/revisions"}],"predecessor-version":[{"id":11916,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/posts\/11914\/revisions\/11916"}],"wp:attachment":[{"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/media?parent=11914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/categories?post=11914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ibiblio.org\/carrborocitizen\/main\/wp-json\/wp\/v2\/tags?post=11914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}