There's an interesting group called
WM Owners based in the USA. It's run by current WorldMark owners as a means of sharing information. You see, it appears that WorldMark (and especially Wyndham, who are the mob that sell the new WorldMark units) don't really like existing owners talking to each other, especially when it comes to selling WorldUnit credits or, in this case, voting for the board.
Here's one of their recent newsletters:
DON'T GIVE WYNDHAM YOUR PROXY!!!
If you have not yet received a letter from "WorldMark by Wyndham" requesting that you sign over a three-year proxy, you soon will. DON'T DO IT. Instead, use the form you can find here to assign your proxy to Philip Abdouch, an independent owner who will combine our strength to get an INDEPENDENT owner elected to the Board of Directors. Philip is a dedicated owner-advocate and was three times a candidate for the Board of Directors. Last year he was kept off the Board solely by the votes and proxies held by Wyndham and by the Wyndham-controlled Board of Directors. For an explanation, look here.
Wyndham claims that the Directors are "active WorldMark owners" who work to ensure that the Club is run in accordance with our governing documents and in the best interest of the majority of owners. Four of the five Directors are or were high-level employees of our Developer! Consider the following:
"Each an active WorldMark owner"? Yes, they are owners. But did they purchase WorldMark credits as a significant investment in their vacation futures? Or was their ownership just a small portion of their corporate compensation package and a requirement to be eligible to sit on the board? Did they own PRIOR to becoming employees or Board members?
"Conform to existing governing documents"/"in the best interest of the majority of owners"? Recent decisions that this Board has approved or allowed:
- Public rental of WorldMark units however and whenever Wyndham decides (more information here)
- New resorts have SIGNIFICANTLY higher credit values, diluting the value of OUR investments (more info here)
- New "TravelShare" developer program is prejudicial against existing owners, and threatens to eliminate the Bonus Time program. (more info here and here.) It is currently the target of a class-action lawsuit on behalf of existing owners (read more here.)
Why a proxy drive? Wyndham claims they need proxies in order to achieve the 15% quorum required to hold an election and conduct business at the Annual Meeting. Never in the history of WorldMark has there been a problem with achieving the 15% quorum to conduct business. Their desire for your proxy is not to reach the 15% quorum, but to control YOUR vote. If their interest were only in achieving a quorum, they would vote the proxies equally among all candidates and issues so as to not override the votes of ordinary owners. Instead, in each of the past three elections the Board has voted the proxies in such a way as to directly counter the votes of the owners, changing the outcome of the election! (Read about it here and here.)
Our Board of Directors is supposed to represent Owners in dealings with Wyndham, our Developer and Manager. But four of the five are career senior employees of Wyndham! The letter itself is on the letterhead of WorldMark by Wyndham, not WorldMark the Club, and is signed by Dave Herrick as Sr. Vice President of WorldMark by Wyndham. Yet the letter opens by saying that he is writing "on behalf of the WorldMark Board". Wouldn't that be the job of our Board President, Gene Hensley? And no where in the letter does Mr. Herrick mention that his is one of the positions up for re-election this year; he is seeking to maintain Wyndham's control of WorldMark's Board of Directors by using YOUR votes to re-elect HIMSELF!
IF YOU ARE GOING TO ASSIGN A THREE-YEAR PROXY, ASSIGN IT TO SOMEONE WHO IS OUT TO HELP THE OWNERS, NOT CONTROL THEM!
This email was created and sent to you by www.WMOwners.com,
an independent, owner-run website dedicated to:
- Supporting Owner Advocacy
- Providing Education
- Encouraging Open Communication
- Creating Community
The purpose of this communication is to keep you, as
an interested WorldMark owner, aware of and involved in
the changes affecting your club. Thank you to all the
WorldMark owners that have helped us reach out and touch
other owners by providing us contact information.
Another great example of what makes this club so great,
owners helping owners! For more information on any of
the issues mentioned in this message, visit us at
www.WMOwners.com.
WM Owners is not in any way responsible for, nor does
it have any influence on the actions of WVO (Wyndham
Vacation Ownership) or the WorldMark Board of Directors.
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