From the Petoskey News-Review:
The Little Traverse Bay Bands of Odawa Indians Tribal Council did not take action Sunday, during its regular meeting, to suspend the hiring process for a new general manager at the casino.
According to John Bott, tribal council member, the action request item was presented by tribal chairman Ken Harrington, but was not fully explained.
“We never got an explanation as to what it was about,” Bott said. “As a result, no action was taken, and no motion was made.”
The tribe began its search for a new general manager for the casino after Sean Barnard, who had been in the position since May of 2008, tendered his resignation on Nov. 23, making his last official day Dec. 4.
Harrington said he couldn’t fully explain the reason he brought this potential hiring suspension to the tribal council, but said it was directly linked to tribe’s current renegotiation process for the casino’s financing.
“(The reason) is tied to a confidential report, and I can’t go into great detail,” he said. “I wanted to slow the (hiring) process down until we were complete with the forbearance agreement … there might still be some unknowns.”
In August of this year, after missing a $6.3 million interest payment, the tribe began a renegotiation process with the majority of its note holders for the payment of its $122 million in senior unsecured notes.
Before this time, the tribe’s credit rating was listed as a ‘B-’ with a negative outlook with Standard & Poor’s, but was lowered to a ‘D’ on Aug. 17, after missing its interest payment.
Harrington said the tribe expected to have a forbearance agreement with its note holders by Dec. 15, however, that date has now been pushed back to the end of January 2010.
“We’re at the tail end of the operation,” Harrington said. “Now that the time is nearing, we’re at the point of offer, counter-offer.”
Harrington said now that the tribal council has ignored his action request to suspend the hiring process for the general manager, he may take a different approach.
“I may bring it back to them, or I could try to take it directly to the gaming board,” he said.
Continue the hiring process, keep buisness as usual or the inactivity of policy promotion will trickle down to enefficienacy throughout the organization. Productive orders generate positive energy needed in lean times! Hesitancy and pulling the head in the shell will result in no leadership and destructin of your work forces ability to perservere in these times. Hold the line!