Some of you have asked me what happens at a Board meeting. Some think it’s top secret discussions and endless deliberation. Others envision a private club, unapproachable and scary. In truth, our Board meetings concern real people doing real work for Wolverine. Last Thursday’s June meeting unfolded with some ordinary and extraordinary conversation.
Kim Molitor started the June meeting with our Special Presentation feature. We try to save this slot on the agenda for special strategic issues and/or important educational sessions. Kim provided a history of Power Marketing and Spartan to our new directors and she laid out the incredible financial benefit Power Marketing has provided to its customers and Wolverine. She finished by offering an exciting glimpse into how she and her team are trying to grow those businesses.
Brian Bejcek gave an Alpine presentation devoted to final details about commissioning. He then turned the stage over to Dan Calverley who provided some real insight into the technical challenges associated with commissioning. My favorite slides of his were the ones dedicated to specific individuals from Alpine, Hersey, Burnips and Sumpter who have made important contributions to the project.
Zach Anderson provided an overview of future fuel supply strategy for Alpine, and offered a glimpse into a new opportunity he may bring to the Board next month regarding supplemental fuel supply for this important plant.
Janet Kass made a routine financial report and concluded with an exciting topic – Capital Credit Retirements. She sought and received concurrence for a new direction whereby Wolverine can repay some of the capital its members have invested in Wolverine in past years. Wolverine can do this only because of its financial strength, and that strength comes from member support. I will have more to say on this matter in upcoming posts.
Joe Baumann finished the Board meeting with a special subject under my regular report which focused on future telecommunication strategy and how Wolverine and its members might collaborate to bring fiber to rural Michigan homes.
Wolverine is fortunate to have a Board that wants to discuss strategy. They take care of the ordinary business of the Board as dictated by Wolverine Bylaws, and they stay focused on offering guidance to long-term opportunities. They give the Wolverine senior team tremendous latitude and necessary resources to explore new opportunities. Let me know if you would like more regular communication on what happens at each Board meeting.
Thank you for sharing.
Eric,
I appreciate the efforts you have put into maintaining open communication between everyone involved in “Keeping the Lights On” at Wolverine. You have indicated before that, as employees, we all perform various team functions to keep the Cooperative rolling along, from your position to the newest interns and apprentices; from the routine aspects to the exciting or challenging ones.
Board Matters shows that the Board matters too, and is just as much apart of the team as all the rest of us. This acknowledges the support they provide in their guidance and direction to you and the executive team, which then transfers to us and right back to them and the rest of our members. Hopefully in the form of a reliably (and economically) spinning meter on the side of their homes and businesses.
Please pass on my thanks to them, members former and current, for their decades-long time, efforts, and dedication.
Russ, thanks for the feedback. I will pass on your thanks to the Board.