Attending the Annual Shareholder Meeting Attending to Important Matters

Most shareholders would agree that attending their annual meeting is an activity low on their priority list, right after flossing their teeth and organizing their sock drawers. Some feel the meetings are boring, while others feel they don't need to be there as long as their building is running smoothly. Others simply just don't care.

Why don't people feel the need to attend annual meetings? There are benefits and advantages of non-board residents attending their meetings and boards and managers sometimes grasp for ideas on how they can get more participation from residents.

Reasons People Skip Out

People will skip their annual shareholder meetings for a variety of reasons. They might be too busy. They might not care. Or they might look at their smoothly-run building and think, "Everything is going fine as it is. Those in charge don't need me."

"Everyone thinks that the board is doing everything possible to protect their interest," says Chandra Jain, a management consultant in Kew Gardens, Queens, and president of Queens Corp. Condo Corporation "The better a co-op is operated, the less attendance you have [at a meeting]. If you have questions about maintenance or the building is falling down, then you have more people showing up to voice their complaints and displeasure. If everything is running smoothly, nobody wants to go."

Other shareholders might simply be lazy, too busy or apathetic about their building's daily business, which often is uninteresting to residents.


Related Articles

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  • I wish every co-op owner will read this article.
  • This article was very informative. I am a new co-op owner and this information informed me how important it is to attend all meetings. Thank you.
  • We did all of the above and still didn't have a quorum. This article does a great job in explaining the importance of being involved in your investment. I wish more people cared.
  • Apathy reigns supreme !!! I've been at my coop for 30 + years and only very recently have gotten involved in the building's politics. The 'they've got it covered' attitude prevailed for all of my absentee time. Now that I'm on the board it's extremely frustrating to note the apathy exhibited by my fellow tenants. No amount of exhortation seems to work.! Gonna threaten a humongous maintenance increase before the upcoming annual to inspire and spur attendance. Something tells me that it also wont work. But stay tuned...............................