Like most Crow Wing Power co-op members I believed the board of directors would manage the organization through its current crisis of confidence. A crisis brought on by secret agreements, hush money payouts to some board members and excessive monies paid to its CEO.
Now I’m reading, in the member supported newsletter, a patronizing attempt by CEO Bruce Kraemer to intimidate people from exercising their rightful indignation over the payout of millions of dollars to a few people in power.
Kraemer is attempting to squeeze sympathies for himself and others who enriched themselves following the CWP sale of Hunt Technologies. It looks to me like Kraemer, who got caught with his hand in the proverbial cookie jar, is employing bullying tactics to disparage those who seek to move the operation into a transparent, honest business. It’s time for he and any of his cohorts to go.
The weak board that allowed this to happen is mostly gone -- let’s hope the current board has the courage to recognize the need for new leadership.
It smacks of greed when millions of dollars, which should have been paid to co-op members, instead were paid to a few people. The truth is Crow Wing Power co-op members took all the risk and a few people in a position of power took a vastly disproportionate share of the profits, believing themselves entitled because of the gamble they took with our money. Had the gamble not paid off would they be covering the loss? They view themselves as beyond reproach because of the agreements they entered into among themselves for their own benefit.
It is time for the culture of this business enterprise to change. To be refreshed with new leadership and a renewed focus on the task of providing reliable power at a fair price.
Patrick J. Eastwood