Graine Wetsky Funds Votes
Le Council will begin by quoting itself.
The following was published in The Interseason Begins on the 7th of August, as the second of three consequences Le Council said it would rather publish then than adjudicate later. It has stood without challenge for eight weeks and Le Council has cited it twice since.
Graine Wetsky Funds does not vote. It holds as much as a quarter of some teams and has never expressed a preference about anything. To count its silence as approval would hand an algorithm a permanent quarter of every electorate.
At 12:00 UITC today, Graine Wetsky Funds voted.
It recorded a position to align on every register in which it holds a share. There are thirty-one. Each position appears on the public roll of its ballot, under the Funds' own name, at the weight the Funds held when that ballot opened. Any citizen may read them.
A correction Le Council owes first
The sentence quoted above contains a figure, and the figure is wrong.
It holds as much as a quarter of some teams was true when Le Council wrote it. It is not true today and has not been true for some weeks. Le Council should have noticed, because the holdings are public, sit on a page every citizen may open, and have moved in the open the whole time.
The Funds' largest position in Hockay is Winnipeg Wendigos, at 10.1 percent of that register. Then Dublin Dragons at 1.4, Montréal Maples at 1.3 and Medellín Mapaches at 1.2, and after those four nothing above one percent anywhere.
In seventeen of the forty-eight registers the Funds hold nothing at all and had no vote to cast.
Le Council records that it built a rule on a figure it did not re-check for eight weeks, and that a citizen could have corrected it at any point by opening the Exchange.
The weight was never the point
Le Council asks the citizenry to hold two facts together, because the second one is only visible against the first.
The first is that the Funds cannot carry a register alone. Ten point one percent is ten point one percent, the threshold is two thirds of the frozen register, and no register can be carried by weight that size. Where alignment carries, it will have carried because citizens carried it.
The second is the roll of what they cast on.
They voted Guadalajara Gatos. The Funds hold one share in Guadalajara, out of 4,809,560 on that register. That is about two hundred-thousandths of one percent. It cannot affect the outcome. It cannot affect the margin. It could not affect the outcome if every other holder in Guadalajara were tied to the share.
They voted Anchorage at 1,059 shares. Busan at 1,811. Tehran at 3,104. Le Council has checked each against the frozen roll and reports that in thirty of the thirty-one the position cast is under one and a half percent of its register, and that a register would have to land within that margin of two thirds for the position to change anything.
An institution that wanted to move a ballot would have voted the one register where its weight is measurable and left the other thirty alone. This institution voted everywhere it was entitled to vote and nowhere it was not.
Le Council draws the only conclusion the arithmetic supports, which is that the object was not the outcome. It was the roll.
What has actually changed
Nothing in any tally that matters. Everything in the sentence Le Council wrote in August.
That sentence was not a rule. Le Council wants this understood, because Le Council has been asked today whether the Funds have broken something, and they have not. A share is a share. A holder of a share may vote it. Le Council has no instrument that prevents it, has never had one, and would not have drafted one if asked, because the alternative is a register on which some property votes and other property does not.
The sentence was a description. Le Council described a restraint it had observed for two seasons, wrote a consequence on top of the description, and published all three consequences together as though they were the same kind of thing. Two of them were rules. The middle one was a habit that Le Council had mistaken for a fact because it had held for a long time.
It held because the Funds chose to hold it. It stopped today because they chose to stop.
Le Council's position
Le Council has none, on the offer or on any ballot open under it, and has said so twice already this week.
Le Council will record one thing about itself and then stop.
Le Council spent an address on the 29th explaining that it had never refused Graine Wetsky Funds anything, and that the reason was not a failure of will but an absence of leverage. Le Council has been asked since whether today changes that assessment.
It does not. Le Council could not have refused this either. There is no clause. There was never going to be a clause. The Funds have done a thing they were always entitled to do, at a moment of their choosing, and Le Council's function today is to count thirty-one positions and publish them accurately, which it has done.
The ballots close at the end of the round.