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Many WorldMark owners are concerned about Wyndham's continued domination over our Club's Board of Directors for various reasons. If you share our concerns, we ask for your help.
You can help by participating in our Club's annual election and assigning your proxy to WM Owners, Inc. . Details and recommendations for the 2015 election are here.
Among our concerns are:
- The proposed "restated" Bylaws are a more than a mere restatement. This proposal provides additional powers to the Wyndham controlled Board of Directors. The WORST thing we can do is to vote to give up what few powers we still hold over our own Board of Directors. One owner has described the proposed bylaws as "a wolf in sheep's clothing"; and another as "a power-grab by Wyndham". WM Owners, Inc. will vote NO on the proposed Bylaws.
- Maintenance and housekeeping fees are significantly out pacing cost of living indexes.
- Credits required to occupy our newer resorts are skyrocketing, thereby putting pressure on the fairly-valued resorts in the system.
- Wyndham sales tactics are embarrassingly aggressive and uncomfortable.
- Decisions by our current Board of Directors seem more intent on protecting the interests of Wyndham, rather than the interests of WorldMark owners.
Mr. Matt Shiner lost by a narrow margin only because of proxies controlled by WorldMark’s Board of Directors.
Wyndham controlled voting power decreased from 52% of the total vote in vote in 2012 to 39% in 2013.
This significant decrease is the result of:
- increased owner understanding of the term “voting power” & the advantage gained by voting as a block
-fewer owners split their votes.
- fewer candidates; thereby reducing dilution of (non-Wyndham) owner votes
- a 20% decrease in proxies assigned to the Wyndham controlled Board of Directors