Is it ethical ,or even fair, to call a vote on an issue that was already voted down by the membership? This is concerning. Whether the vote was rejected by 4 or 40, why are members being asked to vote again? Extraordinary is becoming ordinary?
If the club doesn’t need money at this point, why are we being asked to approve a loan (line of credit)? Why are staff not being cut to match the demands of the membership? Isn’t this the largest cost to the club now?
There are many questions today’s announcement brings. Deja vu? What are your thoughts on the topic? Please feel free to comment below. Please remember to keep it positive and constructive.
???—– Original Message —–
“Tokyo American Club”
Saturday, August 29, 2020 2:23:52 PM
Extraordinary General Meeting: September 24
?????Extraordinary General Meeting:
September 24
Dear Member,
At the Board of Governors’ meeting on August 27, the Board approved the convening of an Extraordinary General Meeting (EGM) on September 24
At last month’s EGM, the Board asked Members to vote on a proposal for the Club to take out a line-of-credit-type loan for ¥1 billion with Sumitomo
Mitsui Banking Corporation, our primary lender.
While the proposal only just failed to pass (by four American Member votes), support for the loan was overwhelming, with 85 percent of those who voted
showing their approval. The result convinced the Board to revisit the proposal.
As we explained prior to the last EGM, this line of credit would allow the Club to weather the current period of unpredictability while establishing a
new normal for Club operations. In essence, it would help secure our short-term future. That is why we ask that you vote in favor of the proposal.
Before the EGM, we will host a hybrid town hall on September 8 to answer any questions Members may have about the proposal
and the Club’s financial position.
If you have not already registered as a Voting Member, I urge you to do so and have a say in the future of your Club. Visit the Club website for
information on how to register
Thank you your continued support of our Club community.
Representative Governor
Tokyo American Club