Spin, Spin, Spin.
Interesting that the proxies were not taken into account in the three motions that passed. Chances are that the meeting could be declared null anyway as the proxies etc were not sent out on time and also the letter sent with the proxy forms (postmarked 30/1) would cause a few issues.
Couple of points that I raised -
6 monthly finiance was tabled. 1.7mil in cash holdings = $9700 in interest.. effectivily 1.06% on yearly basis.. Raised the question to Eugene 'Thats the best the girls told me that we could get", ING would pay over 5% or $87k per year. Eugene admitted 'quietly' that yes it would wipe the loss of $34k in first six months and create a surplus if invested correctly.
Also raised the issue of the safety notice on the first audit and what was done to fix it. Grounded aircraft etc was the result.
Nothing really came of it but I'm sure a couple of others present will give their side.
The SR president status may be a case of 'watch this space' if someone decides to challenge it in court. - unresolved but Caz has a recording of the meeting and several others also recorded it.
800k of driving for no real result other than we will do better from the board.