Fwd: [NRC-ROC] NRC Update
Bob Gedert
Bob Gedert
Executive Director
California Resource Recovery Association
Bo...@crra.com
559-593-5298
From: Melinda Uerling <muer...@recycleannarbor.org>
Date: Mon, Dec 7, 2009 at 6:17 AM
Subject: [NRC-ROC] NRC Update
To: NRC...@peach.ease.lsoft.com
Faced with bankruptcy in the wake of the merger proposal’s defeat, the Board nevertheless was moved by the offer of fundraising and operational support from the Past Presidents Group; coupled with the unexpected lease termination offer from the landlord which cut our original debt in half, the board voted on September 30 to pursue a reorganization plan rather than a Chapter 7 bankruptcy filing. Our debt currently stands at slightly more than $600,000.
Since that time, I have been working with current board members, representatives from the Past Presidents group and other former board members, along with leaders from the Save the NRC Coalition, to craft a restructuring plan and a creditor repayment plan.
The board is currently reviewing the draft restructuring plan for approval, which outlines a timeline and process for a reinvigorated NRC through 2010, including voluntary creditor repayment plans. Once approved by the board, it will be shared with the membership.
In short, we intend to stick around -- because we feel that we are the best organization to serve the interests of our membership, the municipal recycling industry.
In our renewed commitment to transparency, all board meetings under my leadership have been open to the membership. Hopefully some of you have taken the opportunity to join us. We are currently scheduling a December board call and once the date and time are determined, I will send out an announcement to this listserve, the SRO listserve, and the membership at large. I hope many of you can join us for an update.
Kind regards,
Melinda Uerling, NRC President
Melinda Uerling | CEO | Recycle Ann Arbor | muer...@recycleannarbor.org | 734-662-6288