Cobb Electric Membership Corp. violated a 2008 settlement with unhappy members who accused some co-op leaders of enriching themselves at members’ expense, the Georgia Supreme Court ruled today. Dissident members hoped to unseat board members in a scheduled 2009 election that was never held after the EMC’s leadership voted in secret to allow proxy voting by mail. The high court ruled the board may not unilaterally change the method by which its members are chosen.
Duly noted: Former state Rep. Dean Alford (right), who earned hundreds of thousands of dollars in stock dividends from a for-profit affiliate of a non-profit Cobb County utility, was elected chairman of the board of the Technical College System of Georgia on Thursday. Court records show Alford paid $750,000 in 2001 for stock in the […]
Cobb County authorities allege that executives of a non-profit electric cooperative illegally transferred at least $23 million from the co-op to a business in which they had a financial interest. Cobb sheriff’s deputies and the GBI served search warrants Wednesday at the EMC offices and the homes of three co-op executives – CEO Dwight Brown […]