2001 Minutes of the Meeting


October 9, 2001

Attending: Tim Hetland, Karla Jenkins, Traci Jo Lindow, Marion Marshall, Lynn Ostrem, Janet Page, Tina Truehart   No one absent

1.       First official meeting called to order 6:05pm.

2.       Reviewed Operating Procedures, Partnership Agreement, and Induction form.

3.       Voted for Officers:

4.       Voted to adopt; Investment Strategy – 7 yea 0 nay, Partnership Agreement – 7 yea 0 nay, Operating Procedures – 7 yea 0 nay, Dues and Fees – 7 yea 0 nay

5.       Regular meetings to be held the 2nd Tuesday of every month from 6pm – 8pm.

6.       Voted to join NAIC – 7 yea 0 nay, to use Bivio.com for accounting program 7 yea 0 nay, to use Toolkit to study stocks – 7 yea 0 nay, to use Highland Bank for bank account – 7 yea 0 nay, to use Firstrade as a broker – 7 yea 0 nay

7.       Tim, Lynn and Karla will sign the bank and broker cards

8.       Lynn’s address will be used as the main club address

9.       Lynn will order items from NAIC

10.   Lynn will file assumed name certificate

11.   Tim will open bank account with Highland Bank

12.   Collected initial payments

13.   Discussed if you will be absent from a meeting please send your capital contribution for the month to secretary prior to the meeting.

14.   Web sites referred to: www.better-investing.org – the NAIC website and www.bivio.com/crow river – club website

15.   Homework for November meeting: Read Chapters 1-6 of the Take Stock book and look around home to see manufacturers of everything we consume or use

16.   Next meeting is November 13th, 2001 Lynn will review Take Stock book for educational purposes

November 13, 2001

 Attending: Tim Hetland, Karla Jenkins, Traci Jo Lindow, Marion Marshall, Lynn Ostrem, Janet Page, Tina Truehart        No one absent

1.       Meeting called to order 6:00pm.

2.       Secretary’s report passed out.

3.       Club Agent/Treasurer’s report handed out and explanation of how to read the report was given. Tim will be getting the Tax I.D.; file the legal notice and notify the bank with our current information.

4.       Non-stock related business:

a)      Unfinished Business – none

b)      New Business – Liability Insurance is provided by NAIC.

NAIC also offers insurance for bonding at an additional charge; this coverage was determined not to be needed at this time.

Bivio is now charging $59.00 per year for the accounting work. We need to decide by December if we will continue using them.

c)      NAIC calendar of events – In the back of the Better Investing magazine there is a listing for all classes in our area. A Beginner’s Investing class is provided on January 19, 2002 from 9am-1pm at Dakota County Technical College. The cost is $40.00. Other more advanced classes will be held in the beginning of December at McAllister College.

d)   Our next meeting will by at Lynn’s house.

5.       Lynn presented an education segment on What are Quality Companies and Where to Find Them.

6.       Lynn presented two stock reports: Lincare Holdings and FactSet Research Systems.

7.       Homework for December meeting: Find a company that meets NAIC criteria and research it to present to group for the next meeting. Also study stock reports for FactSet Research Systems and Lincare Holdings.

8.       Additional training with Toolkit software to be provided Sunday November 25th from noon-2pm and Saturday December 8th from noon-2pm at Lynn’s home.

9.       Next meeting is December 11, 2001; Adjourned.

Minutes December 11, 2001

Attending: Tim Hetland, Karla Jenkins, Marion Marshall, Lynn Ostrem, Janet Page, Tina Truehart
Traci Jo Lindow absent w/payment

1.       Meeting called to order 6:20pm.

2.       Secretary’s report passed out and accepted.

3.       Club Agent/Treasurer’s report handed out and accepted. We now have an EIN number. Tim also changed the information at the bank to Crow River Investment Club and put a legal notice in the Crow River Newspaper.

4.       Vice-President called for stocks presented as follows:

Tim – Tyco International      Tina – Paychex                         Karla – Bristol Myers
Jan – Sysco                         Marion – Express Scripts           Lynn presented for Traci – Walgreen’s

The club will do additional research on Tyco, Paychex and Express Scripts for the next meeting. If a member finds information on one of these three companies please forward the information to the person who presented that company. We will again review these three companies at our next meeting.

5.       When presenting companies in the future the minimum to bring to the group would be a completed SSG and a [Value Line] handout for every member.

6.       President called for motion to buy or sell securities – voted 6-0 to buy Factset when it reaches $29.50 or less. Tim will watch this stock daily and purchase as close to $300.00 as is possible. Tim will also be sending money to our broker, he will leave approximently $100.00 in the bank and send the remainder to the broker.

7.       Non-stock related business:

a)      Unfinished Business – Voted 6-0 to accept Bivio for accounting purposes for the club 

b)      New Business – none

c)      NAIC calendar of events –April 26th and 27th NAIC Investors Fair at The Earle Brown Center Ellis Traub to be a speaker.

d)   Our next meeting will by at Lynn’s house on January 8th

8.       Homework for January meeting: Think about industries that are going forward so that we can compare companies within that industry.

9.       Meeting adjourned 8:20pm so that we could eat more!