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Saturday, January 19, 2013

Share and Share Alike

Today I got up early to attend a stockholder’s annual meeting.  We own a share of stock in the company that owns and runs this RV Park, Pismo Coast Village (PCV).  Like all companies, they hold an annual meeting to report on finances, plans, etc. and to elect the board of directors.

PCV is kind of a unique company.  The RV Park was originally built in the early 70s and by 1975 had gone belly up.  Instead of turning the park back into whatever, some enterprising RVers liked the area so much that they formed a company to buy out the park.

They wrote up some interesting rules too.  For one, there can be no more that 1800 shares of stock.  Secondly, the stock normally does not declare dividends, instead the “profit” is plowed back into upgrading the park.  Thirdly, for each share of stock you own, you can stay free for between 45 and 70 days depending on how many are prime days.  (This usually allows us to stay about 65 days a year).

Because of the high occupancy in the park by the general public, they have been doing major upgrades every year with the revenue that generates.  They are just now finishing up a multi-year project to totally redo all 400 sites by replacing all utilities and upgrading them.

The stockholders meeting was interesting to me just to see what they did and how they did it.  I was glad to hear how great the company is doing overall and the future upgrades planned for the park.

One of the major upgrades in recent years was to vastly improve their free wi-fi system.  When we were here in 2011, we thought it was great!  But in 2012 we thought it had degraded and this year it seems even worse. 

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Plans to upgrade Wi-Fi again!

Turns out the Wi-Fi isn’t worse, it is just that the load has changed.  Used to be just a computer or maybe two per site would connect.  Now everyone has multiple devices that are Wi-Fi capable and that load is what slows the system down in the evening.  (Heck, Carol and I have 6 devices  between us – 2 laptops, 2 Nooks, and 2 smartphones – all of which can use Wi-Fi).

Also media distributers like Netflix have switched to an internet delivery system and that really increases the load.  There are already plans to get more, newer, and faster equipment to try to mitigate this problem.

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Some of the 200+ at today’s meeting

The big event is the election of officers.  It went by quickly and all 18 recommended candidates won.

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When they declared the polls open, you could either cast your ballot in the box or, if you filled out a proxy, it would be cast for you.

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There were many displays around the room depicting activities at the park and the status of things.  Above, is a picture of some of the various paintings on the huge clam at the front of the park.  It is changed often to celebrate the season.

I also took about a 45 minute walk through the entire park today while Carol was resting.  She would have joined me, but is a bit “under the weather.”  I kept up a pretty brisk pace and was ready for a rest when I completed the walk.

So, I grabbed a soda and my Nook and sat outside and enjoyed the warm (75 degree) weather.  Tomorrow, it’s time for NFL football!  GO NINERS!

During our walk about town a couple of days ago, I took the two pictures below and haven’t had a chance to post them yet.

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View looking over toward the cliffs at Shell Beach

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View of the Pismo Pier

1 comment:

Russ Krecklow said...

Hey, Dave, thanks a lot for sharing about the "sharing" and all that business related stuff, that a business wonk like me enjoys hearing about. Sorry to hear that Carol isn't feeling well. Hope she's back in fine form soon. Love those photos, thanks for posting. Will be two great games tomorrow. I'm rooting for the Niners, too! With fans like us, how can they lose?