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

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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

YET ANOTHER ELECTION.....

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Memo to: Gurney's Timeshare Owners
From: Linda Benjamin, Your Class A Director
Date: June 7, 2011

I am writing to inform you that Gurney's two Class B directors have voted to have yet another Annual Meeting and Election on June 27, 2011. They could have voted to deem it a “shareholder meeting” (which would have meant no election and thus save over $13,000 in ballot-counting fees)...but, alas, no. The same information concerning the financial status of Gurney's and the opportunity for timeshare owners to question the Board and management could have been accomplished at a shareholder meeting versus an annual meeting, AT NO COST TO US! The “powers-that-be” do not appear to care about this because it is not their money they are spending...it is yours and mine.

If you are thinking “didn't we just have an election?”...right you are. The last election concluded in December of 2010, so this election will be a mere SIX months later, rather than the year-long term set forth in most of the 2010 proxy ballots. Their sole motivation is apparent – they are hoping to get rid of me so they can go back to their “business-as-usual”with no questions asked of them and no information available to you...running Gurney's as their own private piggy bank which we, the timeshare owners, fund. I am certain it is their fervent hope that perhaps a new Class A director, more to their liking, would replace me. Hence, a hasty (and unnecessary) election suits their agenda.

I hope you will give me the privilege to continue to stand by you and stand for you as we continue to circumnavigate the murky Gurney waters.

 

Recent Updates from "Gurneyland"

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Memo to: Gurney's Timeshare Owners
From: Linda Benjamin, Your Class A Director
Date: June 5, 2011, 2011

Despite the fact that we, the timeshare owners, were specially assessed over $500,000 in 2010, you should also be aware that Gurney's “powers-that-be” are contemplating managerial bonuses for the year 2010 for certain of the 30+Gurney “departmental managers” who have attained a certain (undisclosed) departmental “performance level”. Paul Monte has stated that total amount of anticipated bonus payout is $77,000 with differing managers receiving differing amounts based on “departmental performance”. (Note: These are the same "managerial employees" who had their former pay reduction recently reinstated by a vote of the Class B directors. One can only wonder why a 109 unit resort necessitates 30+ managers...) Paul affirms that said 2010 bonuses have NOT yet been paid. Final determination of said bonuses is contingent upon PKF, Gurney's external auditors, “signing-off” on the 2010 year-end Financial Statement, which to date they have not done.

Gurney's secrecy fetish continues in full force and affect. Two recent examples:
-  Management is stalling with regard to our request to view certain Gurney's stock transer records. Management had requested of Thomas Carusona, Gurney's Chairman and President, and also a defendant in our lawsuit, that Mr. Carusona's attorneys intercede and try to stall our document review until the Fall.  Please remember that Paul Monte is Gurney's CEO and owed his duty of loyalty to Gurney's, and not to Mr. Carusona.  How dare they attempt to halt our document review to suit their stalling agenda!
-  Despite the fact that a number of real estate brokers are privy to the terms and perquisites of certain employment contracts between Limited and members of the Monte family (and one other person), I remain unable to release this information to you due to the “gag order” placed upon me. In other words, the “powers-that-be” deem it appropriate for “outsiders” to know the largesse lavished upon the Monte family et. al., but not the timeshare owners who will be footing the bill for these employment agreements and their perquisites.
I will continue to keep you informed of ongoing developments.

 

Update: Linda Benjamin

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Memo to: My Fellow Gurney's Timeshare Owners

From: Linda Benjamin, Your Class A Director

Date: April 7, 2011

Subject: Knowledge Is Power…

I do not concur with the old adage that “ignorance is bliss”. Therefore, in an effort to keep you informed about your Gurney's interest, I would like to share the following information with you: 

FIREOn March 16, 2011, the Montauk Fire Department responded to a call of a fire in the area of Cafe Monte. The first chief on the scene discovered a small fire behind a wall in the restaurant area of the main building. They reported heavy smoke conditions and that they were tearing apart the wall to throw water on the fire. The fire was contained to a small area and extinguished quickly. It was reported that welding was being done in the basement before the fire broke out. There is no word yet from the East Hampton Fire Marshall's office as to what caused the fire. According to Paul Monte: “Fortunately, no one was injured and the cleanup and repairs have already begun.” 

BEACH REPAIR AFTER STORM DAMAGE: Replacement sand has been trucked in and sand has been recovered from other areas of Gurney's, resulting in a positive repair situation. Repairs on walkways and the Beach Barge are set to begin shortly. 

MEDIATION: Our first mediation session has been unsuccessful. A second mediation session has been scheduled for April 21st. If this session is unsuccessful, we anticipate that any resolution will have to be as a result of our lawsuit. 

OUR LITIGATION: I wish I could tell you more about our litigation, but I am still constrained from disclosing details due to a confidentiality agreement.

Read more...
 

Untrue Representations by Gurney's Inn Corp. Liquidating Trust

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From: Linda Benjamin, Class A Director
Date: May 25, 2011

Dear Fellow Gurney’s Timeshare Owners:

I am sending this email as Gurney’s Inn Corp. Liquidating Trust evidently has refused to retract the erroneous statements set forth in its recent anonymous email sent to certain shareholders of Gurney’s Inn Resort & Spa, Limited.

The unsigned email sent on behalf of the Trust states that: ...we believe that Ms. Benjamin, as a director of Gurney’s, has a duty to review company records to determine whether the claim that the Liquidating Trust has been fully paid is true or false.”

I completely agree. However, since I was elected Class A director, I was and have been continuously stonewalled and thwarted by those acting on behalf of the Trust in my attempts to obtain access to these and other “company records.”

The Trust’s appointed directors are aware of my demands for these company records since I wrote them countless disclosure demand letters. Even my attorneys have sought these records through discovery – unsuccessfully. In the litigation, they demanded copies of “[a]ll financial statements concerning Gurney’s.” The response they received was a refusal to produce financial statements “created before November 23, 2003.” In other words, they refused to produce the very same financial statements they now claim I had a duty to review.

I could not exercise my “duty to review company records to determine whether the claim that the Liquidating Trust has been paid is true or false” as I was never allowed to see such records!

I hope the Trust would be so kind as to answer the following questions for the timeshare owners and me:
1. Has Gurney’s paid or will Gurney’s pay for the composition and transmission of the Trust’s April 19, 2011 email?
2. Who authorized and composed this email on behalf of the Trust, since no individual signatory was identified?
3. How did the Trust come into possession of Gurney’s email list of timeshare owners?
4. Where are the year-end financials for 1981 and 1982?

My agenda as Class A director has always been very simple – to enforce our rights for full and open disclosure and to have an independent board of directors. The secrecy fetish of those running Gurney’s on behalf of the Trust does not inspire confidence.

I will be sending you another update shortly informing you of recent developments and the status of our lawsuit.
 

Letter to Investor Protection Bureau, Atty Gen'l NYS

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April 5, 2011 
Below please find a memo from Martin Goldman regarding his response from the Attorney General's Office of New York.  Many of you have written heartbreaking letters to us over the past years, and now is the time to tell the Attorney General your feelings, especially if you were forced to give up or are thinking of giving up your unit.  You can use the form Mr. Goldman provided or write your own letter, and address it to the address included in Mr. Goldman's memo below. Please include the file number.

Remember there is strength in numbers and all of you should spend a few moments to send a letter.

Thank you,  Pat Boffa, President GTO
_________________________________________________________________________________________________________
FROM:     MARTIN WM. GOLDMAN
TO:         CLASS A SHAREHOLDERS
RE:         GURNEY’S INN RESORT & SPA, LTD.
I Have received written notification from Attorney General Schneiderman that our claim against Gurney’s Inn Resort & Spa, Ltd. has been received, a file number 2011-951414 issued and my correspondence was forwarded to the:
New York State Office of the Attorney General
Investor Protection Bureau
120 Broadway, 23rd Floor
New York NY 10271-2300
If you have not already done so, I urge that you send either my suggested letter or your own letter to the Investor Protection Bureau ASAP, making certain that you include the AG’s file number.
In order to get this communication to you expeditiously, I have requested that Pat Boffa, through GTO, forward it to you ASAP.
If you are interested in saving your investment in Gurney’s, now is the time to act.
Thanks for your continued cooperation.
 


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