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Indeed, now we discover the Mother of all evils that beset the wretched coop owners: we thought we were home owners, and it turns up now that the government considers us BUSINESS OWNERS seeking profits. That's a colossal aberration, but it explains why the Sponsors consider themsemves entitled to stay in the Coop on forever, practically running the Coops as unregulated rental businesses, which yields them them exorbitant profits without hardly any overhead or tax liabilities. Since they also take our tax abatements, I surmise they practically don't pay any taxes for their extraordinary profits.

When we tried to persuade our Sponsor that he should consider getting out of the Coop, citing the Jannifer case, in which the judge ruled the Sponsor has an oligation to sell his units within a reasonable time, our President answered - "Why would he walk away from his investment? He has every right to continue renting his apartments for as long as he wants" That means, forever - He's been here for more than 25 years. This Sponsor in Perpetuity syndrome, is the principal cause of the coops being in such chaotic state, because it subvert the very nature of the coops, converting them into vehicles for the profits of a few - Sponsor Mgmt , vendors, at the expense of the many: the coop owners who are are merely living in their apts and are not allowed to make any profits.g5grosof@msn.com. Concerned Citizens for Coop Reform.