UPDATE: It looks like it passed, by three votes. There is a talk of a recount, which, I’m told, is allowed under the bylaws.
Well, it looks like the big fight over term limits at the New York Diamond Dealers Club did not end in February.
Tomorrow, the Club votes on a proposed by-law change that would let existing officers, as well as the Board of Directors, serve five terms. That includes Jacob Banda, the current president, who has already served four terms.
Obviously, opinions on term limits vary. The Mayor of New York, Michael Bloomberg, just got his limits rescinded, to surprisingly little outcry. However, if the current President gets one more term, it’s possible there could be more attempts along these lines. And it would really be nice to have this settled. The mood at the DDC is pretty heated, and this is at a time when the industry has far more important things on its plate.
In any case, there will be a meeting on this tomorrow at 11 AM, with secret voting all day.