cneville
Designer / Small Craft NA
- Joined
- Jan 12, 2009
- Messages
- 11
- Reaction score
- 0
- Location
- Centreville, Maryland
Westlawn Institute of Marine Technology changed owners 01/01/15. I cannot say sold except maybe in the legal sense because I don't think any significant money actually changed hands. In any event it does have new owners.
The change was not without challenge. I know this because I was one of those challenging the outcome. To be specific I was a member of the Board of Directors of Westlawn and had been for about 8 years. I was informed several days before Christmas that three individuals had made a bid to take over Westlawn. To the best of my knowledge little or no money was offered by them for that acquisition. What they offered was to absolve it's current owners ABYC of any and all obligations related to the school.
ABYC's inclination was clear from the outset. Their goal was to get rid of Westlawn and the cost and obligations that it dictated. That included a relatively modest annual shortfall (in the scope of businesses) , but one still over 100 thousand dollars. If they had kept it there was also presumably a responsibility to pay-out current students at the cost of maybe 150 thousand dollars or more. The decision was made that Westlawn must go and that was clearly their prerogative.
The new potential owners who had surfaced after the Professional Boatbuilder article by Dan Spurr had an aggressive timeframe. They wanted to close the deal before the end of the year. That was less than two weeks away and over a holiday period where many of those responsible might have limited availablility. But the push was on to make the deal go through. Unfortunately the board of directors of Westlawn, again of which I was a member, needed to approve the deal. Actually as structured the new owners chose to avoid that step by asking existing board members not to approve the deal, but to simply step down with signature on an authorization of unanimous consent.
Over the Christmas and New Years holiday several of the board members of Westlawn felt that it was either not in the best interest of the school itself or not in the best interest of the 100+ current students of the school to sign that authorization. I'll save you the minutia of the week of back and forth between ABYC and the various board members trying to coax them along. The bottom line is that on New Years Eve ABYC revealed that they could (according to the applicable bylaws) fire four of the board members. That left three remaining: One the ABYC president, one who was early on been sympathetic to ABYC's desire to unload Westlawn, and one who was the current (former) director of Westlawn. They voted and by a two to one margin Westlawn was "sold" to the new entity. By their own outline that transfer resulted in the firing of the director and others responsible for the schools day to day operations.
So what does that mean. Westlawn's history is well documented. The plans of the three new owners are at best vague. They have expressed little more than a plan to "bring Westlawn into the 21st century" with adaptations in systems and technology. I don't know exactly what that means. If it had been clear I might have voted for their approval. I do know that several of us who felt an obligation to the school saw little evidence of their practical experience needed to pull that off.
I would like to think Westlawn will have a long and robust future. It would be ashamed if it does not reach it's 100'th anniversary. While I'm saddened to no longer be associated with her, that does not change my affection nor my hope for her future. I wish the best for Westlawn as she moves forward.
Unfortunately I think the way the change was undertaken does not speak well for how the school will be handled in the future. I also think that the way everyone was handled in the process was at best classless. As for new or potential students I could only suggest that you sit still and wait to see how things sort out.
But then that's just my opinion.
Chuck Neville
Yacht Designer
former Westlawn BOD member.
The change was not without challenge. I know this because I was one of those challenging the outcome. To be specific I was a member of the Board of Directors of Westlawn and had been for about 8 years. I was informed several days before Christmas that three individuals had made a bid to take over Westlawn. To the best of my knowledge little or no money was offered by them for that acquisition. What they offered was to absolve it's current owners ABYC of any and all obligations related to the school.
ABYC's inclination was clear from the outset. Their goal was to get rid of Westlawn and the cost and obligations that it dictated. That included a relatively modest annual shortfall (in the scope of businesses) , but one still over 100 thousand dollars. If they had kept it there was also presumably a responsibility to pay-out current students at the cost of maybe 150 thousand dollars or more. The decision was made that Westlawn must go and that was clearly their prerogative.
The new potential owners who had surfaced after the Professional Boatbuilder article by Dan Spurr had an aggressive timeframe. They wanted to close the deal before the end of the year. That was less than two weeks away and over a holiday period where many of those responsible might have limited availablility. But the push was on to make the deal go through. Unfortunately the board of directors of Westlawn, again of which I was a member, needed to approve the deal. Actually as structured the new owners chose to avoid that step by asking existing board members not to approve the deal, but to simply step down with signature on an authorization of unanimous consent.
Over the Christmas and New Years holiday several of the board members of Westlawn felt that it was either not in the best interest of the school itself or not in the best interest of the 100+ current students of the school to sign that authorization. I'll save you the minutia of the week of back and forth between ABYC and the various board members trying to coax them along. The bottom line is that on New Years Eve ABYC revealed that they could (according to the applicable bylaws) fire four of the board members. That left three remaining: One the ABYC president, one who was early on been sympathetic to ABYC's desire to unload Westlawn, and one who was the current (former) director of Westlawn. They voted and by a two to one margin Westlawn was "sold" to the new entity. By their own outline that transfer resulted in the firing of the director and others responsible for the schools day to day operations.
So what does that mean. Westlawn's history is well documented. The plans of the three new owners are at best vague. They have expressed little more than a plan to "bring Westlawn into the 21st century" with adaptations in systems and technology. I don't know exactly what that means. If it had been clear I might have voted for their approval. I do know that several of us who felt an obligation to the school saw little evidence of their practical experience needed to pull that off.
I would like to think Westlawn will have a long and robust future. It would be ashamed if it does not reach it's 100'th anniversary. While I'm saddened to no longer be associated with her, that does not change my affection nor my hope for her future. I wish the best for Westlawn as she moves forward.
Unfortunately I think the way the change was undertaken does not speak well for how the school will be handled in the future. I also think that the way everyone was handled in the process was at best classless. As for new or potential students I could only suggest that you sit still and wait to see how things sort out.
But then that's just my opinion.
Chuck Neville
Yacht Designer
former Westlawn BOD member.