From Board Vice President Steve Silverberg - 3/5/08

Hello All Co-op Members,

As you read in last month’s Reader GM report, Anya did an excellent job in updating all about the delays in completing our new Metropolitan Place retail store. Quoting Anya’s report, “The Co-op’s ability to move forward on the downtown site construction remains on hold while the developer, Buckingham LLC, (Cliff Fisher, Managing Member) grapples with pending foreclosure by the bank on the property.” Needless to say this was an unpleasant turn of events.

We all know from personal experience that nothing can be more exasperating and disappointing than when outside forces derail our own personal plans. And, as we all have learned, remaining calm, focused and resilient is the best method for overcoming outside obstacles we each face in our daily lives.

So it is with the leadership of your Co-op. Members of the Board and the General Management team have all experienced exacerbation and disappointment at the delays at Metropolitan Place. This being said, I am buoyed by the resilience and focus that Anya, the entire staff and my fellow members of the Board have demonstrated in working towards a resolution of our current situation. I believe if you witnessed the thoughtfulness and leadership displayed firsthand, you would share my confidence and pride in all the individuals involved.

I am somewhat confident that we will reach a satisfactory resolution of the current delay; however, the Board acknowledges that operating in an environment where the outcome is unknown is difficult on staff, members and anyone who cares about the success of the Co-op. Often in my business experience, when things aren’t going as planned, and the challenges appear multi-faceted, we adopt the following internal attitude and external approach: we remain calm and we “do the next right thing.” So it is with the Co-op’s leadership at this time: we remain calm, focused and making all attempts to “do the next right thing.” We are prudently considering all our options.

We want to thank the many members who have acknowledged their concern and asked, “Is there anything I can do to help the situation?” Our answer is yes!!

1. First and foremost, please exercise patience as we get this worked out. It may be awhile. We will keep you up to date with developments as they unfold. (This letter was written on March 5th — there may be more news already.)
2. Second, keep doing your thing—shop the Co-op, pay off any equity balance due (cashiers will be asking you in April), give staff feedback about how your Co-op can be improved, and share with anyone that will listen why you shop the Co-op.
3. Finally, keep the good karma, smiles, and courteousness going towards all your fellow members and staff when you shop. I believe you’ll agree this is the one of the big reasons we all enjoy our Co-op shopping experience.

As always we welcome your thoughts, so feel free to e-mail Board members at .

Thanks for your time and support,
Think Spring,
Steve Silverberg