Showing posts with label creditor protection. Show all posts
Showing posts with label creditor protection. Show all posts

2020-10-02

The MEC Mess an Intuitive Understanding

These comments are not based on any comprehensive analysis but rather my intuitive response to what has been filed in court and published online and the media coverage.

It appears that both sides may be correct, sort of.

From a business point of view the Board of Directors actions may be the best way to preserve as much of the operating business as possible.

From a co-operative point of view the opposing MEC Members are clearly correct that this goes in opposition to MEC's founding principles and values and those of co-operatives in general.

Need it be stated that MEC is a co-operative and not a for-profit business.