2002 Minutes of the Meeting

Minutes January 8, 2000

Attending: Tim Hetland, Karla Jenkins, Marion Marshall, Lynn Ostrem, Janet Page, and Traci Jo Lindow. Tina Truehart was absent with notice, but w/o payment

1.       Meeting called to order at 6:04 pm. Guest:  Craig Block was introduced

2.       Secretary’s report was accepted as written.

3.       Club Agent/Treasurer’s report accepted as presented.

4.       Stocks - Group decided to have Marion pursue Express Scripts with help from Karla, and Tina will pursue Paychex with help from Lynn.  Tyco will be shelved for now, due to negative news about accounting probe.

5.    Lynn used the PC-to-TV converter to tour our club website.  She also previewed a list of pre-qualified SSGs found in the datafiles.  It was suggested that we might use these stocks for future study.  Lynn will email the list to everyone after the meeting.

6.    Non-stock related business:

a)      Unfinished Business – Stock not purchased yet because we still have to complete paperwork from broker.  Everyone present signed.  Tina will stop by Lynn's the day after this meeting to sign, and Lynn will mail.  Tim will follow-up.  Tim was instructed to purchase FactSet under $29.50/share once the broker account is set up.

b)      New Business – none

c)      NAIC calendar of events – nothing new

d)   Place of Next Meeting: Lynn’s house on February 12th, 2002.  This will be the annual meeting.  Karla will be absent due to out-of-state training for her new job.

Education:  Lynn presented a Power Point presentation called SSG - Part 1 & 2;

      And, we completed an SSG together (Concord EFS) on the PC Converter--just for the practice.

8.    Review Assignments:

      Homework for January meeting: Read Chapters 7-9 in Take Stock by Ellis Traub;

      Complete and bring an SSG on the February BI Magazine Stock to Study--Central Parking.

      Tina to sign broker application and provide dues; Lynn to mail Broker application; Tim to follow-up with the broker account and possibly purchase FactSet. And, Lynn to give Tina all the originals from State, IRS and newspaper for our start-up.

9.       Meeting adjourned 8 pm.

Minutes of the Annual Meeting – February 12, 2002

The meeting was called to order at 5:58 p.m.

Present were Lynn Ostrem, Tim Hetland, Marion Marshall, & Traci Jo Lindow, along with visitor Craig Block.  Tina Truehart was absent with notification and dues submitted.  Jan Page and Karla Jenkins were absent with notice, but dues had not yet been received.

Secretary’s Report: The minutes were accepted as written.

The Club Agent/Treasurer’s report was submitted with a balance of $1,151.51 in the bank. We were notified that the bank had placed several bank charges on our account, but they have since been corrected and will be reflected on the next bank statement.  Taxes were completed between the meetings by Lynn and Tim, and Tim handed out member tax returns to those present.  In Tina’s absence, we were unable to get social security numbers for Tina, Karla or Jan.  Lynn will hold the original tax return until these numbers are obtained.  Due to the bank charges, Tim will be correcting our records and next month’s reports will reflect the proper debits and credits from the bank.  FactSet was not purchased due to the continued high price, but the Firstrade account was opened.

Stock Reports:

Lynn presented MBNA Corporation, to be reviewed and voted on at the March meeting.

Lynn presented Karla’s report on Hanover Compressor, also to be voted on in March.

All present brought completed SSGs on the Feb. Stock to Study, Central Parking.  The SSGs were reviewed and thrown away!

Non-Stock-Related Business:

Lynn mentioned that it is time to start thinking about adding to our membership. 

Consider your neighbors or co-workers who live in the area. (Our new member letter is on the website under Newcomer’s Corner)

Craig Block expressed an interest in joining the club.  He will complete and submit his application to Lynn, who will disperse it to the other members before the next meeting, when we will interview him.

The members present voted to move our meeting time from 6 p.m. to 6:30 p.m. in order to give people a better opportunity to make the meetings on time.  The vote was 4-0 in favor.

The members present voted to have the Treasurer move all but $100 to the new brokerage account.  That would be roughly $1,300.  He will hold up the deposit and the transfer for a couple of days, in order to get Jan’s and Karla’s dues.

NAIC Calendar of Events: Nothing new

Place of Next Meeting:  Lynn’s house, March 12th

Annual Meeting Activities:

The members present voted to postpone the activities normally held at the annual meeting, in light of the fact that many were missing.  These will be addressed at the March meeting.  Please give some thought to where you think the club should be by this time next year, and help us set some goals.  Also think about what social events you would like to have, i.e. a BBQ this summer and/or a Christmas dinner at a local restaurant.

Officers will also need to be elected.  Tim has asked to be relieved of the Treasurer’s duties, but is willing to continue with the Club Broker activities.  If anyone would like to run for any of the offices, please contact Lynn privately.  If no one responds by February 28th, a motion will be made to re-elect the current officers for the next term.

Education Segment:

Lynn presented a Power Point Presentation and handout on The SSG - Sections 3, 4, & 5.  Copies will be emailed to those absent (and anyone who requests them), and placed on the website.  Next month’s presentation will be on researching companies and doing stock reports.

Review of all Assignments:

Tim to collect the rest of the checks and transfer funds to the brokerage account.

Tim to rectify any problems stemming from the erroneous bank charges.

Everyone to do the March BI Stock to Study – Leggett & Platt

Lynn to circulate Craig Block’s application, and everyone to prepare to interview him

Bring your list of club goals for the next year, along with ideas for a social event(s)

Everyone be prepared to elect officers

(It wasn’t mentioned at the meeting, but Take Stock, Chapter 10 coincides with this meeting’s education presentation.)

All absent members are responsible for picking up your stock reports and taxes from Lynn.

(And, it would be nice of everyone would consider researching a stock and contacting Karla to place it on next month’s agenda.  It can be a brief report about a company, including a Value Line and completed SSG.  Copies should be made for everyone.)

Meeting adjourned at 7:40 p.m. 

Minutes March 12, 2002

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

1.       Meeting called to order at 6:33pm. Craig Block attending for interview from club.

2.       Secretary’s report was accepted as written.

3.       Club agent/treasurer’s report: Firstrade brokerage account opened with $1000.00. Highland bank account balance of $413.51.  Motion to reimburse Lynn for copies and postage for taxes.

4.       Goals for our next year were established. We would like to own 6 stocks, have 15 stocks on the watch list, get 10% return on our  total portfolio, add 3 new members (Craig Block not included), have everyone comfortable doing SSG’s, start a calendar to sign up for doing stock studies. Our social activities will be a Barbecue in June and potluck in December on our meeting days for those months.

5.       Annual vote for officers was done. President Tina 6-0. Vice-president Lynn 6-0. Secretary Jan 6-0.  Club Agent Tim 6-0. Treasurer Lynn 6-0.  Next year we will consider adding a watch list and portfolio manager.

6.       Lynn clarified the 3-strike rule. You will need to miss three consecutive meetings and have a club vote before you will be removed from the club.

7.       Interviewed Craig Block for membership consideration.

8.       Lynn explained the new Premium Service from NAIC and Better Investing. Call 1-877-ASK-NAIC if you are interested in obtaining the new service for an additional $25.00 per year.

9.       Information on registration for the Investors Fair in April was handed out.

10.   The next meeting will be at Lynn’s house on April 9th, 2002.

11.   Education: Lynn passed out information on Value Line’s new Sector Analysis and Research Guidelines. We also reviewed Leggatt and Platt and decided to throw away any information we had on it.

12.   Stock: Tim will purchase 10 shares of MBNA if the stock is under $40.00 -  voted 6-0. Decided to pass on HG Compressors due to recent reports of multiple suits filed on them - voted 6-0. Decided to hold on Factset and buy 10 shares once the stock is below $29.50. Tim & Tina will present stocks next month.

13.   Tracy presented Walgreen’s for consideration in April.

14.   Meeting adjourned 8:45 pm.

Minutes April 9, 2002

Attending: Tim Hetland, Marion Marshall, Lynn Ostrem, Tina Truehart, and Jan Page.  Absent Traci Jo Lindow w/notice w/payment, and Karla Jenkins w/o notice or payment.

1.                  Meeting was called to order at 6:31 p.m.

2.                  Secretary’s report was accepted as written.

3.                  Club Agent report

a)      We have 10 shares at $38.11 per share of MBNA.  Total brokerage of

$1,000 with a cash balance of $611.95.

4.                  Treasurer report

a)      Account balance of $608.20 at Highland Bank. Total cash of $1220.1

5.Stock reports

a) Update and vote on past stocks to buy or sell were:

1)      Walgreens – still a hold, on the watch list.

2)      MBNA- a little down since last month.

3)      Factset- on hold until in the buy range.

6.                  Presentation of New Stocks were:

a)      Brinker International -- Lynn presented we will study further for next month

b)      Hibbett Sporting Goods-presented by Tina the study will be continued.

c)      Jakks Pacific- Tina reported that this is a toy company.

d)      Lowes- Tim presented this stock for further study.

e)      Shaw Group Inc.-Lynn presented and we will study more for next month.

1)      Each member was asked to study more about each of the stocks presented and e-mail questions to the person who presented the stock, in order to have more knowledge before buying that particular stock.

2)      According to the poll taken a majority voted to have future stock studies on a rotating schedule, w/two members presenting stocks each month.

Non-stock-related business was:

a)      Unfinished Business:

1)      Karla Jenkins notification of her registration is accepted.  Her cash payout  will be based on next months’ evaluation statement.

b)      New Business:

1) Vote was taken and passed to change new member voting from unanimous required to majority required.  Lynn will amend the agreement and provide updated copies.

2)      It was voted that Tracy will be stock watcher for MBNA Corp.

3)      A vote was take and passed to induct Craig Block into the club.  The vote was 5-0.

4)      NAIC Calendar of events

A)    Remember to sign up to attend the NAIC Investor’s workshop on April 26th & 27th.

   B) It was stressed that anyone wanting to leave the club for any reason and not to feel pressured to stay if they didn’t care to be in the club any longer or if for any reason could not be a member.

8. Place of the next meeting

a) All meetings will be held at Lynn’s house until further notice. The next meeting will be on May 14th.

9. Education segment for this month was canceled, as time didn’t permit.

10. Meeting adjourned at 8:35 p.m.

May 2002 Minutes

1.     Meeting was called to order at 6:31 p.m. All members were present. [Tina Truehart, Lynn Ostrem, Tim Hetland, Jan Page, Marion Marshall, Traci Jo Lindow, Craig Block ] Payments were collected.  Lynn introduced our guests John Koehler, Jane Hokenstrom, Sharron Fyten, & Chris Block.

2.     The Secretary's Report: Approved as posted.

3.     The Club Agent's Report: Bought 10 shares of FactSet Research @ $30.23,
leaving us a balance of $302.70 in broker account.

 4.     Treasurer's Report: Dues and Craig Block's initial payment were deposited,
and Karla Jenkins' payoff check in the amount of $169.37 was mailed on 5/13/02.

5.     Balance in the bank account is $713.83. Including brokerage account, we have $1,016.53 in

6.     New Stock Presentations: Jan presented Copart and Marion presented Mobile Mini.
Both will be discussed at the next meeting.

7.     Stock Reports: FactSet Research is a Hold, MBNA is a Buy.

8.     Stock Presentations from Last Month: We discussed Brinker, Hibbett Sporting Goods, Jakks Pacific, Lowes and Shaw Group. We voted unanimously to include all but Hibbett in our portfolio. Hibbett displayed all good signs; we just couldn't get excited about the company.

9.     Vote to Buy Stocks: Brinker and Shaw were priced too high so they went on our watch list.   The club voted unanimously to add $350 worth of MBNA to our portfolio, and add $400 each of Jakks and Lowe's at $6.95 a trade. This will not exceed $1,200 in stock purchases.

10.     New and Unfinished Business:

           A.     Craig Block signed the Partnership agreement and signed the induction form to join the investment club.

11.         NAIC Calendar of Events: None

12.        Next Meeting:

         A.     There will be no education segment for June 

B.         Family BBQ, get with Tina on food                                         

13.         Education Segment: Lynn presented a Power Point presentation on how to pre-qualify stocks before doing an in-depth study. The presentation is on the website.                                                                                                                                                                                                

14.         Review of Assignments as follows:

          A.   Traci and Craig to present new stocks next month.

B.       Everyone to study Mobile Mini and Copart reports and be ready to discuss

C.       Everyone please communicate with Tina on June potluck at Lynn’s home.  Lynn will provide the meat

15.    Meeting adjourned at 8:25 p.m.

16.     Afterwards, we had a question and answer period for the guests.

June 11, 2002 Minutes

1.        Meeting was called to order at 6:34.  The following members were present: Tim Hetland, Tracy Jo Lindow, Marion Marshall, Lynn Ostrem, Tina Truehart, Craig Block and myself Jan Page. Guests were John Koehler and Chris Block.

2.         All members’ payments were collected except Jan’s.  She will drop her payment by tomorrow.

3.        The Secretary’s Report: Approved as posted. 

4.        The Club Agent Report: 

Brokerage Account Transferred $900 from bank account.  We bought 24 shares of Jakks @$18.44. Bought 10 shares of Lowes @$43.74.  Bought 8 shares of MBNA @ $37.20.  Balance of $4.29.

5.     Treasurer’s Report:

        Banking Account.  We had a balance of $713.83 from the month of April.  Dues of  $270 for the month of May were deposited.  Tim transferred $900 to our brokerage account leaving a balance of $83.83.

6.    John Koehler was interviewed for membership into the club.  Voting will be through e-mail sent to Jan.

7.    New Stock Reports:

        a) Presented for our consideration were as follows:

      1) Cardinal Health by Traci and

      2) Harley  Davidson  by Craig.

        b) Watch List Updates: Shaw was only in the buy range.

 c) Current holdings –

      1) FACTSET/ buy – Craig will be stock watcher.

      2) JAKKS/ buy Tina will be stock watcher.  

      3) MBNA buy –Tracy will be stock watcher.

      4) LOWES/ hold. Tim will be stock watcher.

 d) Update and discussion From last months meeting

1)       Copart: The club decided 4 to 3 to hold off for 90 days.

2)       Mobile Mini: vote 5-0 to purchase

        e)  Final decision was to purchase $300.00 of FACTSET

8) Non-stock related business:

a)       no unfinished business

b)       New business

1)       E-mail votes to Jan to vote John Koehler into club.

c) NAIC calendar: no new news at this time

9) Review of assignments: 

a) Tim to transfer $300.00 To broker

       b) Tim to purchase FACTSET

c)       Tim and Tina will present new stocks for July meeting.

d)       Marion and Jan  will present their stocks in August

10) The meeting was adjourned at 8:31


1.        Meeting was called to order at 6:30.  The following members were present: Traci Jo Lindow, Marion Marshall, Lynn Ostrem, Tina Truehart, Craig Block, John Koehler and myself Jan Page.  Tim Hetland was absent with notification, without payment.  Guests were Chris Block, Mike Trisler and Kelly Piller.

2.        All members’ payments were collected except Tim’s.

3.        The Secretary’s Report: Approved as posted. 

4.        The Club Agent Report by Lynn as follows:

a) Brokerage Account
 Opening balance was $4.29. Transfer of $300 from checking. Bought 10 shares of FactSet at    $28.84($295.35).  Received dividend from FactSet of $.50.  Closing balance was $9.44.

5.        Treasurer’s Report also presented by Lynn as follows:
a) Bank Account:
Opening balance was $83.83.  Deposited $250 in Dues.  Transferred $300 to broker, leaving a
closing balance of $33.83.

6.         Non-stock related business:

a)       No unfinished business

b)       New business

1. Jan Page reported that John Koehler was voted into the club by a majority through e-mail.

2. Chris Block had final interview. Each member will vote by e-mail, after the meeting, sent to Jan.

3.Tina Truehart's resignation from the club was received.  We are sorry to see you go Tina as you added so much to our club!

              4.Traci Lindow was elected our new president of the club to replace Tina.

              5.  NAIC calendar: no new news at this time.

7.     Stock related new business: 

        a) New Stock Reports:

             No new stocks presented.  In his absence, Tim will present Polaris in August. 

 b) Watch List Updates --   

      Current watch list holdings were reviewed.

 c) Current holdings –

      1) FACTSET/ buy—Craig

             2) JAKKS/ buy—John Kohler volunteered to be the stock watcher since Tina resigned.

      3) MBNA/ buy –Traci

      4) LOWES/ hold—Tim

8.    Update and discussion on stocks presented last month.  

                The club voted 7 to 0 to add Cardinal Health and Harley Davidson to our portfolio.

The club voted 7 to 0 to buy $200.00 of Cardinal health this month if the price is below $70.

9.     Education section:

a) Lynn gave Power Point presentation on how to update companies with the use of Toolkit.  The presentation can be found on our website.    

10.    Review of assignments: 

            a) Tim to transfer $200 to our broker account to purchase Cardinal Health.

b) Tim will present Polaris, as will Marion and Jan will present their stocks, in August.

c)    Education segment will be a presentation by Lynn on PERT using the Toolkit.

d)    All members are reminded to send votes to Jan on Chris Block by July 12.

11.   Our next meeting will be held at Lynn’s home August 13th. The meeting was adjourned at 8:07.


1.        Meeting was called to order at 6:30 by Traci Jo Lindow, our new president!  The following members were

present: Traci Jo Lindow, Marion Marshall, Lynn Ostrem, Tim Hetland, Craig Block, Chris Block, John Koehler and myself Jan Page.  Guests were Mike Trisler and Carole Ripplinger.  Chris Block was officially welcomed as a member, since the email vote between the meetings was positive.

2.        Payments were collected.

3.        The Secretary’s Report: Approved as posted. 

4.        Club Agent Report:  The broker account’s opening balance was $9.44. Transfer of $200 from checking.

Received dividend of $1.80 from MBNA and $.20 from Lowes. Bought 3 shares of Cardinal Health for a total of $166.01, leaving a balance of $45.43.  Also, we acquired an additional 9 shares of MBNA from the 7/1/02 3-for-2 split.

5.        Treasurer’s Report:
 Opening balance was $33.83.  Deposited $255 in Dues and Fees.  Transferred $200 to broker, leaving a
closing balance of $88.83.

6.         Non-Stock Related Business:

a)       Unfinished business – We owe Tina $227.78 to close out her membership.

b)       New business – Stock Presentation Schedule – discussion postponed until next month.

c)       NAIC calendar: See back of BI Magazine for details

d)       Place of next meeting: September 10th, 6:30 p.m. at Lynn’s. (Marion will be absent Sep/Oct; Craig in Oct)

7.     Stock Reports: 

        a) Presentation of New Stock Reports:

             Tim presented Polaris; Jan presented Johnson & Johnson; and Marion presented Mentor Corp.

      All reports will be posted in the Bivio file and discussed at the next meeting. 

b) Review of Current Holdings –

1) Cardinal Health/buy – Traci (new stock watcher)

2) FactSet/buy—Craig

3) Jakks Pacific/buy—John (new stock watcher)

        4) MBNA/hold –Lynn (new stock watcher)

        5) Lowes/buy—Tim

c) Review of Watch List

8.    Update and Discussion on Stocks Presented Last Month – None

9.    Open Discussion and Motions:  Even though we only had a small amount of money, a vote of 8 to 3 was taken

in favor of spending it!  The discussion resulted in a vote of 6 to 2 in favor of purchasing 3 more shares of Cardinal Health.  [We were going to transfer $200 to the broker account, but after the meeting Lynn realized we only had $186 left over after paying Tina.  Tim and Lynn decided to transfer $180 instead, and proceed as planned.]             

10.   Education:

Lynn gave a Power Point presentation introducing us to Portfolio Management—starting with an overview of the Pert reports.  A Portfolio Management Workshop was handed out as an assignment, and everyone is suppose to download the SSGs for our holdings from the Bivio file, update the prices and companies (as learned last month), and bring our own Pert to the next meeting.

11.    Review of assignments: 

            a) Tim to transfer $200 to our broker account to purchase Cardinal Health [ended up being $180].

            b) Lynn to pay Tina and close her membership.

c) John Koehler and Chris Block will team up to present a new stock.

d) Education segment will continue with a discussion on the homework assignment (see above)

    and an assessment of our stocks on the Pert report.  Everyone needs to bring a Pert!

12.   The meeting was adjourned at 8:32.


Meeting was called to order at 6:30 p.m. on September 10th.

1.        Members present were: Lynn Ostrem, Traci Jo Linlow, Tim Hetland, Craig Block, Chris Block and myself Jan Page.  Dues were collected.  Absent were Marion Marshall with notice and pay, and John Kohler with notice but without pay.  And Carole Ripplinger was our guest for the 2nd meeting in a row.

2.        Secretary Report was approved as posted.

3.        Club Agents report:     Opening balance was $45.43; Transferred $180.00 from checking; Purchased 3 shares of Cardinal Health for a total of $190.61; Ending balance was $34.82

4.        Treasurer’s report:       Opening balance was $88.83; Dues deposited were $325.00; Paid off Tina  -$227.78; Tim transferred $180.00 to broker; Marion paid her Sep & Oct dues early $60.00; Ending balance was $66.05

5.        Stock Reports:

a)       Presentation of New Stocks 

Chris Block presented Kohl’s.  His report will be posted in the Bivio file and discussed in Oct.

6.        Review of our present holdings were as follows:

a)       Cardinal Health/buy –Traci

b)       FactSet/buy - Craig

c)       Jakks Pacific/hold –John

d)       MBNA/Hold- Lynn

e)       Lowes/Hold-Tim

7.        Review of watch list

8.         Update and Discussion on Stocks presented last month 

a)          Polaris (Tim)  Not enough interest at this time.

b)         JNJ(Jan) Good quality, but too pricey.  Placing on the Watch List.

c)          Mentor (Marion) Good quality, but we’re concerned about what medical stocks to buy.  Shelfing for now, but putting on Watch List for later discussion.

9.        Open Discussion and Motions: Despite our lack of money, we voted 6 to 0 to buy an initial stake of $200 in  Copart this month.  The price was down and the quality was still there.

10.     Unfinished Business:

a)       Mike Trisler completed his pre-orientation.  We will interview him at the next meeting.

b)       Portfolio Management and Watch List Managers, postponed again until next month.

11.     New business:  None

12.     Naic Calendar of Events: NAIC spent billing for annual club dues.  Everyone needs to bring a second check, in the amount of $14.00, made payable to NAIC, next month.  The club will submit it with the $40.00 annual dues.

13.     The next meeting will be held at Lynn Ostrems on October 8th 2002 at  6:30 P.M.

14.       Education:  

a)       Lynn reviewed, and discussion ensued, on our homework assignment introducing the PERT.

b)       Handout of Retail Industry Study – Part One was discussed.  Each member is assigned to part one for next month.  The handout is on our web site under Communications|Files|Retail Store Study

15.       Review of assignments:

a)       Tim to transfer $200 to our  broker account and use it to  purchase Copart.

b)        John Koehler to present Cheesecake factory.

c)        Discussion and vote for Portfolio and Watch List managers.

d)       Each member to bring an extra check for the NAIC club dues of $14.

16.   The meeting was adjourned at 8:36.


Meeting was called to order at 6:32 p.m.  Present were Jan Page, Lynn Ostrem, Tim Hetland and John Koehler.  Absent with notice but no checks were Traci Lindow and Craig Block. Chris Block and Marion Marshall were absent with notice and payment.  Guests were Carole Ripplinger, Mike Trisler and Terry Schultz.

1.      Secretary Report was approved as posted.

2.      Club Agent's Report: Starting balance was $34.82.  We transferred $200 from checking; purchased 15 shares of Copart at a total of $222.95; received a $1.00 dividend from Factset and a $1.89 dividend from MBNA; leaving an ending balance of $14.76.

3.      Treasurer's Report:  Starting balance was $66.05.  We deposited $200 in dues; then later John's dues of $30; transferred $200 to the broker; leaving us with $96.05 in the checking account.

4.      New Stock Presentations:  John Koehler presented Cheesecake Factory.  For those missing, we will post his report and SSG on the website.  Be prepared to discuss it next month. 

5.   Stocks Previously Presented: In Chris' absence, we did not discuss Kohl's.

6.   Review of our present holdings are as follows:

       a) Cardinal Health - No report

       b) Copart - No report; John Koehler asked to be stock watcher

       c) FactSet - No report

       d) Jakks - Hold

       e) Lowe’s - Buy

        f) MBNA- Buy

7.        Discussion on Stocks: We didn't have a quorum for the meeting.  Therefore, no decisions could be made.

8.        Unfinished Business:

a)      NAIC Dues:  We did not get all the required dues.  Lynn will send a check for the club's portion, along with those who are missing.  Get your checks for dues and NAIC to Lynn ASAP.

b)      Portfolio Management & Watch List Managers:  John Koehler will officially

begin his duties of Portfolio Manager in November.  For now, he will also develop the Watch List.

9.   New business: 

a)      Carole Ripplinger and Mike Trisler have completed their requirements and told us they both wish to join the club.  All members must vote by Friday, 10/11 at 5 p.m., by sending separate emails to Jan.

b)      NAIC offered us a Bonding policy for $40/year.  The club voted to abstain for now, but without a quorum, this needs to be revoted on in November.

c)      December dinner:  Since Russell's was booking up FAST, Lynn managed to snag a private dining room on our normal 2nd Tuesday night, December 10th.  We discussed having a VERY short meeting (parliamentary only) with cocktails at Lynn's at the normal time, with dinner to follow.  Please invite your spouse or significant other!

d)      Lynn reminded us that we'll need two volunteers at the November meeting to help her audit the year-end books and complete the taxes.

10.  Education:

a)       We discussed the retail industry and what we learned from our Internet sleuthing.  Then we reviewed a Power Point presentation on the stocks in the Retail Store universe.  There were 8 good ones.  The group decided to study all 8 stocks, following the format provided in the November Assignment.  This is how the assignment was broken down:

Jan – Costco   
John - Target 
Tim - Family Dollar Store
Lynn - Wal-Mart
Traci - BJ's Wholesale 
Marion - Dollar General
Craig - Fred's 
Chris - Kohl's

For those who were missing, the assignment is in the November folder on our website, and you can view the Power Point presentation by downloading it from the Education folder.  Your report and SSG are due on our website no later than November 5th!

Review of Assignments:

All missing members need to pay Lynn.
All members MUST vote for Mike & Carole (in separate emails, sent to Jan).
Consider volunteering for the audit team in November.
Complete the 2nd half of the Retail Industry Study.
Post your report and SSG by November 5th, and download the others for review.
Review the Cheesecake Factory report.
John Koehler will make recommendations about the Portfolio Management & Watch List.

The next meeting will be held at Lynn Ostrem’s November 12th.at 6:30 p.m.

 Meeting was adjourned at 8:05 p.m.

November 12, 2002 MINUTES

The meeting was called to order at 6:32 p.m.  Present were Chris Block, Craig Block, Tim Hetland, John Koehler, Traci Jo Lindow, Marion Marshall, Lynn Ostrem, Carole Ripplinger and Mike Trisler.  This was Carole and Mike’s first meeting!  Welcome! Jan Page was absent with notice and payment.  Terry Schultz was our guest.

1.      Secretary Report was approved as posted.

2.      Club Agent's Report: Starting balance was $14.76.  We received a dividend from CAH of $.15 and from LOW of $.20; leaving an ending balance of $15.11. (The valuation statement didn’t reflect these dividends.  It will be corrected and handed out with the December statement.)

3.      Treasurer's Report:  Starting balance was $96.05.  We deposited $170 in meeting dues; then later Traci's dues of $30; wrote a check for $82 for our $40 in annual club dues, as well as individual dues for Traci, Craig and Tim of $14 each (Tim gave us cash); leaving us with $214.05 in the checking account.  Further, we set up a Suspense account this month.  Traci and Craig reimbursed us for their NAIC dues and Craig paid his October club dues, totaling $58 that has not yet been deposited.  Total cash in the bank and Suspense accounts: $272.05

4.      Portfolio Manager/Watch List Manager reports:  John presented all stocks on the Pert and Trend reports.  He gave a brief idea of what he is planning to propose at the January meeting and has asked for any input regarding the management of our stocks.

5.      New Stock Presentations:  None

5.   Stocks Previously Presented: First we reviewed Kohl’s but decided to cover it during the

education segment.  Next, we reviewed Cheesecake Factory.  We placed it on the watch list until January because everyone wanted to compare it to Brinker on our Watch List.  Those who don’t already have Brinker’s report can find it on the website.  Lynn will update and email her findings.

6.   Review of our present holdings which are as follows:

       a) Cardinal Health – Buy                b) Copart – Hold                      c) FactSet - Hold

       d) Jakks – Buy                              e) Lowe’s – Hold                     f) MBNA- Buy

7.        Discussion on Stocks:  See Education Segment below.

8.        Unfinished Business:

Ø      We re-voted on the Bonding issue.  It was unanimously defeated this year.

9.   New business: 

Ø      Carole Ripplinger and Mike Trisler signed their Induction forms and the Partnership agreement this evening.  They paid their initiation fees and first dues.

Ø      Lynn shared with us that referrals to Bivio from other clubs paid for this year’s subscription. 

Ø      We voted unanimously to have Chris purchase a case of copy paper by the next meeting.

Ø      December dinner:  We verified that our December gathering will begin at 6 p.m. with Lynn and Traci bringing hors d’oeuvres and Carole and Terry bringing wine.  Lynn’s husband will supply the beer.  Everyone else can bring a little something if they wish, but it’s not necessary.  We’ll have a short meeting (parliamentary only) at approximately 6:15 p.m. and we’ll go to Russell’s for dinner at 7 p.m. Please invite your spouses or significant others, and confirm with Lynn the week before so we can get a head count for the restaurant.

Ø      Craig and Traci volunteered to be on the audit team for year-end taxes.

10.  Education:

We used the education segment to finish up our industry study on Retail Stores.  Our finalists were:   
 Jan – Costco          John – Target                           Tim - Family Dollar Store
 Lynn - Wal-Mart   Traci - BJ's Wholesale              Marion - Dollar General                    
 Craig - Fred's        Chris - Kohl's

We compared all companies on the Stock Comparison Guide, as well as a chart covering a dozen Value Line values. While Kohl’s won all the fundamentals, hands down, the club felt more comfortable with Wal-Mart, due to its size, influence and stability.  We voted 9-0 to purchase an initial stake of $500, including trading costs. 

We also voted to add to our position in Jakks Pacific.  Management was very upbeat and the numbers are starting to turnaround.  We voted 9-0 to purchase $150, including trading costs.

Review of Assignments:

Ø      Lynn to update the Brinker report and email to members

Chris to purchase a case of copy paper by the December meeting

Ø      Traci and Lynn to provide hors d-oeuvres for the December meeting

Ø      Carole and Terry (our guest!) to bring a bottle of wine for the December meeting

Ø      Club Agent to purchase $500 of Wal-Mart, including trading costs, and

Ø      Club Agent to purchase $150 of Jakks Pacific, including trading costs

The next meeting will be held at Lynn Ostrem’s December 10th at 6:00 p.m.

Meeting was adjourned at 9:03 p.m.

December 10,  2002 MINUTES

Meeting was called to order at 6:15 p.m.  Present were Jan Page, Lynn Ostrem, Tim Hetland, John Koehler, Traci Lindow, Craig Block, Carole Ripplinger, Mike Trisler, Marion Marshall, and Chris Block arrived later. Also present was our guest, Terry Schultz.  Since this was our annual Christmas meeting and party there were spouses and significant others present.   This year  we met at Lynn’s and had dinner at Russell’s Restaurant in St. Michael afterward.

Secretary Report was approved as posted.

Club Agent's Report:

Starting balance on statement was $14.76; Dividends were posted: LOW $.20 and CAH $.15; Transfer of $675.00 from checking account to broker;  Purchased 7 shares of JAKK for a total of $107.21;  Purchased 10 shares of WMT for a total of $559.35;  Ending balance of $23.55.

Treasurer's Report

Starting balance of 214.05; Deposit of dues and new members totaling $488.00; Transferred $675.00 to broker;  Ending balance $27.05.

Non stock related business:

Old business: Chris Block purchased a ½ case of copy paper for the club, totaling $17.02.  A check was cut to reimburse this expense.

New business:  

a)       John Koehler announced that he will be moving his family out of state to complete his master’s degree.  July will be his last month.  John would like to stay in the club until he has to leave, so if anyone has an issue with that, they are to contact Lynn.

b)       Terri Schultz completed his requirements for membership and told us he wishes to join the club.  All members are asked to vote by tomorrow, Wednesday the 13th.

NAIC Calendar of Events: Upcoming Treasurer workshop in January

Education:  None

Review of Assignments from all segments of the meeting:

a)       Lynn will update Brinker and send prior to the next meeting for comparison to CAKE;

b)       Traci will update Cardinal Health, including new SSG;

c)       Marion will update either Mentor or Mobile Mini off the watch list;

d)       John will propose stock watcher procedures which will be used for an open discussion;

e)       Monthly stock reports will be presented at the January meeting.

Meeting was adjourned at 6:30 p.m.  On to Russell’s for dinner!