Gurney's Timeshare Owners Inc.

... a not for profit corporation to educate, inform and share information about our resort Gurney's Inn Resort and Spa, Inc

  • Increase font size
  • Default font size
  • Decrease font size

This site was started by Gurney's Timeshare Owners, Inc. a not for profit corporation to educate, inform and share information about our resort Gurney's Inn Resort and Spa, Inc. It's purpose is to begin the process of organizing the timeshare owners so that we can enforce our rights to full disclosure and obtain an independent board of directors.

Gurney's has one of the most beautiful beaches in the world. Sitting on the deck, listening to the surf, walking on the beach or fishing is restful and relaxing. It's our little bit of paradise at the tip of New York. The indoor pool is a great place to workout and the spa has every amenity imaginable. There's no place like it. It's Gurney's Inn and we love it and hope to enjoy it for many more years to come.

Gurney's Timeshare Owners

GURNEY'S INN OFFER - PLEASE READ

E-mail Print PDF
Gurney’s Timeshare Owner’s, Inc.
98 Rock Road West
Green Brook, N.J. 08812
February 28,2013
Re: Gurney’s Inn Resort & Spa, Inc.

My Fellow Timeshare Owners and Friends:
As most of you know I started the fight for Class A shareholder’s rights in the year 2000. To the exclusion of my family, and almost single-handedly, I organized Class A owners and educated some of you about your rights. So many owners had no idea that they owned Gurney’s, not Nick Monte. Unfortunately, Nick Monte’s board would not give me a shareholder list, and it was impossible to reach all of you.

In 2008, when they told us that there was going to be a $21 million dollar assessment, the timeshare model did not work anymore and that they were going to sell Gurney’s, I formed Gurney’s Timeshare Owner’s, Inc. and fought them. My complaints to the Attorney General brought me a timeshare owner’s list, other important documents that were being withheld from us and stopped any attempt to get rid of us. With the help of other shareholders, we hired attorneys, started a website and developed an e-mail list long before Gurney’s Inn did. I convinced Linda Benjamin to run for the Class A board of director’s seat, and in spite of all of the obstacles they threw in her path over the last four elections, she has maintained that seat. I have been threatened by Gurney’s attorneys and various others, but I have always fought for you. Because of my efforts with the Attorney General and Linda’s lawsuit we were not terminated in 2008 and have not had a $21 million dollar assessment. Since 2008 we have had five more years at our beloved Gurney’s and under the recent proposal that Linda has told you about, you will have five more wonderful years, if you so choose. The vote will all be up to you, and I fought for that too. Know that there is no one who has suffered more for Gurney’s than Linda and I, and that we have chosen this path, putting aside our personal feelings, for the good of all of you.

So much has happened over the past years, and there is much to tell. Unfortunately due to the "gag" order imposed on Linda, you are unable to know everything she learned. We can now speak about some things, and I am pleased to tell that the litigation may be over and there is a settlement in place, if you, my fellow timeshare owners, agree.

It is important that you know how this settlement came to be. My husband, Gene, has a friend and client, George Filopoulos, who owns a home in Montauk. Over the years there were times that due to the "circumstances" I did not want to stay at Gurney's and George was kind enough to allow me to use his home. Over many years I had made George aware of the situation at Gurney's, the high maintenance, the issues with management, the various contracts with related parties, our general discontent of having the Monte/ Cooper family running our Gurney's, their horrific treatment of Linda and me, and the lawsuit.
George has spent his life in the real estate field with a special area of dealing with distressed co-ops, (turning them around) and we all know that the situation at Gurney's is getting worse for us, the Class A’s. There is the record high maintenance, people giving up their units for nothing and we are sure that special assessments are looming.
George came up with a plan, on which Linda and I worked hard to negotiate protections fo the Class A's, and you will be hearing from him shortly with the details.  Linda and I believe this plan is good for us and for Gurney's.
George agreed to purchase the Trust's mortgage, stock and everything they own having to do with Gurney's.  They will be gone, even Tom Carusona! Even though I am not a party to Linda's lawsuit, the Trust insisted that I sign the settlement agreement as well.  I agreed that if Linda wanted to settle her case (she is the plaintiff) I would go along with her decision and sign the settlement agreement.  I also had the right to review it and make comments, some, but not all of which were accepted.  The Trust was very difficutl to negotiate with. 
Then George and his attorney, (NOT my husband) negotiated with Linda Benjamin and her attorneys, (NOT my husband) and more recently with me about taking over Gurney’s. Linda and I spent a lot of time negotiating with George, and indirectly, the Trust. George will be sending you information and more details. However, first and foremost, Linda’s and my agreement is conditioned upon 51% of the current Class A’s voting to approve George's offer.
Read more...
 

BIRD IN HAND

E-mail Print PDF
February 27, 2013
Linda Benjamin
Your Gurney's Class A Director
My Fellow Gurney's Timeshare Owner(s):
Re: Your Gurney's: A Bird In The Hand...
Please answer true or false to the following statements:
As a Gurney's timeshare owner, I know all of Gurney's business decisions are predicated upon:
(i) Gurney's mission to ensure a flourishing, financially stable cooperative;
(ii) great concern for my interests as a Class A shareholder;
(iii) transparency, integrity, fairness and honesty;
(iv) the equal treatment of all shareholders, whether Class A or Class B.
How many of us can say “true” to any of those statements?
Sadly, I think we all know the answer.
BUT, WHAT IF:
  • THE MONTE-COOPER FAMILY, THEIR MORTGAGE AND THEIR CONTROL OVER GURNEY'S WERE GONE!
  • MAINTENANCE FEES WERE CUT BY 20% , FROM THE PRESENT $18.88 PER SHARE TO $15.10 PER SHARE!
  • THIS REDUCED MAINTENANCE IS GUARANTEED NOT TO INCREASE FOR THE NEXT FIVE YEARS!
  • THERE IS A GUARANTEE OF NO SPECIAL ASSESSMENTS FOR THE NEXT FIVE YEARS!
  • THE NEW GURNEY'S IS OPERATED ON A TRANSPARENT BASIS, FULL DISCLOSURE, NO HIDDEN AGENDAS, NO SECRET AGREEMENTS, NO PREFERENTIAL TREATMENTS OF ONE CLASS OF SHAREHOLDERS OVER ANOTHER! 
WHAT IF, in addition to the foregoing, YOU COULD ALSO CHOOSE ONE OF THE FOLLOWING THREE OPTIONS:
OPTION 1: PAY THE GUARANTEED 20% REDUCED MAINTENANCE FOR 2013 AND RECEIVE A BUY-OUT PRICE WELL ABOVE PRESENT MARKET VALUE FOR YOUR UNIT AT THE END OF THIS YEAR;
OPTION 2: PAY NO MAINTENANCE WHATSOEVER FOR THE NEXT FIVE YEARS AND CONTINUE TO USE YOUR UNIT OR RENT IT YOURSELF AND KEEP ALL OF THE RENTAL INCOME, YOUR CHOICE; or
OPTION 3: PAY THE GURANTEED 20% REDUCED MAINTENANCE FOR THE NEXT FIVE YEARS AND RECEIVE THE SAME BUY-OUT PRICE AS OPTION #1 ABOVE FOR YOUR UNIT AT THE END OF THE FIVE YEAR PERIOD AND RECEIVE A PORTION OF THE PROFITS CONTINGENT UPON THE SALES PRICE OF GURNEY'S INN AT THAT TIME.
THE ABOVE OPTIONS ARE REAL. THEY ARE ENTIRELY YOUR CHOICE. NO HOCUS-POCUS.
Read more...
 

B

E-mail Print PDF
 

BIRD IN HAND

E-mail Print PDF
 

SHAME ON THEM!

E-mail Print PDF
December 13, 2012 
Dear Fellow Gurney's Timeshare Owners,

You, and 1,971 of your fellow Gurney's Inn timeshare unit owners, have received your 2013 Gurney's maintenance bill. If you want to know why it is so high, read on...

The two Class B Monte-Cooper Trust-controlled directors set an $1.94 per share increase imposed solely upon each Class A timeshare owner. The 2012 maintenance fee was $16.94 per share. The 2013 maintenance is $18.88 per share, an 11.45% increase. It does not apply to the 61,250 Monte Trust-controlled shares, for which the timeshare owners also pay all maintenance/assessments.

The squeeze-play by the Monte-Cooper Trust-controlled directors and the Monte-Cooper family to force timeshare owners to surrender their Gurney's units continues to escalate. The fewer timeshare owners there are, the more the remaining timeshare owners must pay. We started 2012 with 243,100 billable shares. We are starting 2013 with 225,650 billable shares, a reduction of 17,450 shares, or 7.2%.

I voted AGAINST passage of the 2013 budget. I was, once again, outvoted by the two Monte-Cooper Trust-controlled directors.

While we, the timeshare owners, are bleeding money, I would like to direct your attention to, in my opinion, a few of the egregious items included, as well as those conspicuously absent, in the 2013 budget.

INCLUDED IN GURNEY'S 2013 BUDGET:
Additional Expenses vs. Additional RevenuesFor years 2012 and 2013, the budget passed by the two Monte-Cooper controlled Class B directors added almost $2.17 MILLION IN ADDITIONAL EXPENSES compared to $1.53 million in additional revenue. Under what possible economic equation does $1.53 million in additional revenue justify $2.14 in additional expenses? It's no secret that in this economic climate, everyone is trying t find a way to save money. Why not Gurney's?

A Raise (YES, I said RAISE) for one of the Monte-Cooper appointed Class B Officers: In past years, Mr. Carusona received $2000 per month as Director and an additional $2,500 per month as
Read more...
 


Page 3 of 11

Login

Please login or create an account to access the Gurney's Timeshare Owners site.