Re: Re: [RBW] If you have a minute, please read this - NYTimes article

[Joan Oppel]

Here's a link to a recent New York Times article that describes some of the controversial parts of the merger and Mr. Wang's actions.  It's worth reading for the information.
http://www.nytimes.com/2011/02/24/business/24smile.html?pagewanted=1&_r=1

Joan
 

Mar 2, 2011 09:31:40 PM, rbw-owners-bunch@googlegroups.com wrote:

On Mar 2, 2011, at 2:17 PM, John Bennett wrote:

and consider signing the attached petition.

http://www.rivbike.com/blogs/knothole_post/336

Thank you,

John at RBW

Respectfully, I'm skeptical that the situation described in this petition has much to do with reality. I won't say it's complete bunk, but it bears some further investigation before all of us get worked up about it. I'm on the board of the non-profit Worldchanging ( http://worldchanging.com ). I can tell you absolutely that legally...

•  no way no how one member of a board and four of his employees can make a decision that changes how the assets of a non-profit can be distributed. (Only board members can do this, and it has to be at least a majority if not unanimous.) 

•  no way no how one member of a board can fire the Executive Director or any other officer of the corporation. (Same reason as above.) 

If the events as described did take place, it'd be fraud and embezzlement.

I suppose it's possible, since Charles Wang co-founded SmileTrain and donated $27.5 million to get it off the ground, that SmileTrain by-laws could have given special privileges and powers to Wang. 

Here's a press release about the merger: http://www.prnewswire.com/news-releases/smile-train-and-operation-smile-boards-agree-to-merge-116178239.html

(Of course we don't know who wrote the press release)

Here's an article on SmileTrain on Charity Watch: http://www.charitywatch.org/articles/smiletrain.html 

Happy to be disproved....

Rob in Seattle

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