Re-written Letter from Board dated Nov. 22nd, 07

This is a re-write of the letter that was deposited in our pigeon hole on November 29th


Up date on events November 22 / 07

The Board has been receiving numerous calls of support in the light of recent events affecting the Chairman and concern as to some of the activities that some ex employees are resurfacing expressing their return with bravado.

Owners should realise that the slate/group that ran in opposition to the Board last year and the group running this year have been partnered for the last 2 yeras with some of the ex employees. In that two year period they have complained to every government agency possible in hopes of overturning this Board. This group has brought opposition to a new level and are diligently attempting to personally affect individual Board members.

In the past Coral Beach was hindered by the Staff that controlled through intimidation. This intimidation, be it subtle or outright, affected many decisions as to the firings and potential policy changes by Boards. The staff would make it clear that their heritage carried more weight with the Immigration Department and Labour Board, than a visiting foreign investor.

This attitude has not been prevalent at Coral Beach in the last three years. When that staff was replaced 3 years ago that problem disappeared. These Boards actions have made it clear that it would not be intimidated and would hire and keep only hard working employees.

This group seems to have given inspiration to some past employees/partners to the point where these ex employees feel comfortable expressing their return. Some of this ex employees has recently been walking the halls of Coral Beach, stating "we will be back bigger and stronger". With some owners walking the same halls stating that they have "friends in high places". With other owners taking pictures with telephoto lenses of Board Members. All this is in attempts to intimidate the present staff and others.

It must be remembered that there were legitimate reasons for the dismissal of employees and contractors, all handled by our Attorney.

The present changes at Coral Beach would not have been possible with any of the Staff that was dismissed. The Union fully acknowledged this and supported this. The present Staff is a direct result of this choice.

The problems during that period were Staff related and they were supported by Boards that could not or would make the necessary changes required to correct some of the following problems: Keys being duplicated, un authorised use of Owners apartment with owners paying for electric bills, miss appropriation of funds, hotel rooms being staff rented, purchases made through Coral Beach for Staff home use, paying staff when not at work, etc. In essence the Staff had the run of the place for decades with out fear of accountability.

These issues have all been addressed and eradicated in the past three years by the Chairman and this Board. The return of some staff through this group seeking to be elected would set Coral Beach back 4 years and on that proverbial slippery slope.

The Nominees of the opposing group acknowledge that they do not have any Board experience or it seems the time necessary to be effective. It is also rumoured and presumed that these nominees are a front for the Real Board who will be brought in as alternates comprised of past Board members. It would appear that possibly these potential candidates do not feel confident in being named once again as nominees? Possibly due to reputation and performances tied to past Board?

As in any political arena where there are interest groups and partnerships there is always patronage to be repaid. There are still issues of a Bar lease, a few labour and law suits pending with some of the ex employees. Will these cases be dropped or undefended with a change of Board because of patronage? Will the Owners of Coral Beach get stuck paying for this patronage?

The efforts of this group comprised of some Owners and ex employees were the catalyst that had the Chairman escorted off the island. This is not the time or place to make the case, as it is on going. However there has been a tremendous of support and requests by owners who wish for Mr. Rufa to run in the up coming election. Many owners also feel that by Mr. Rufa running and being elected to the Board would help in expressing that his efforts at Coral Beach are well supported by the shareholders.

Most owners also have expressed a total disgust and are embarrassment for this group's actions against the Board and individual Board members. Their reasons for running has not been revealed nor have they expressed exactly what policies or direction they want to change. It appears to be an outright personal attack for sport.

This Board welcomes constructive criticism, actually that's healthy and makes for good policies. This group's constant and persistent negativity basically is not healthy or constructive for Coral Beach. In all their negativity not once do they offer any viable solution to any real problems? (not even the problems they make up) Not once do they acknowledge any positive's by the Board. All the while the vast silent majority of shareholder express quietly to the Board, their appreciation and acknowledge the positive differences.

It should be noted at this time that this Board will be running in its entirety and as a group in 2008.

In the past three years Coral Beach has been represented by a Board that has only one commitment, representing and protecting the best interest of the Shareholders. The policies and direction guided by the Articles are complete. Basically all the ground work and direction for every department is complete, with just fine tuning required.

Coral Beach is heading in the right direction as the past three years have indicated. Operating fees are down; maintenance fees remain low and property values is increasing. This has been a direct result of a continuity of successive Boards. Most certainly this Board will not change its formula that has been so successful for the past three years.

Soons it will be time for the shareholders to do their annual duty. The vote cast by the majority of the shareholders will determine the future and direction of Coral Beach.

Remaining yours truly;

Board of Directors
Coral Beach