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In Attendance: Andy Bain, Peter Carnel, Tom Saunders, Holly Deveny, Todd Fibus, Ron Kozak, Mike Wall, Russ Douglas.
Absent Members: David Jones, John Brock, David Brodeur, Larry Corse, Vreni Luden, Marsha Ratka.
Guests: Satish Shah (2nd visit)
There were no minutes for last month due to the meeting being canceled (inclement weather).
Tom gave the Treasurer reports:
Valuation Statement…our portfolio is down 6%
For 12 months down 12%…little higher than the dow.
Discussion of Tyco.
Andy advised some members have reached or are close to their 4th absence limit. Decision was to call the members and see what their status is.
Next meeting we will have elections.
VP Corner: Holly advised that Mike was running late but would
be doing a presentation.
John Brock was also scheduled for a presentation tonight.
SSG's due for March: Roger. Roger advised he would be in Colombia
but would do an SSG for April.
Andy reviewed the DIG Board.
In the BUY zone: ADCT, ADP, BAC, CAH, MAR, MSFT, TYC, WPI and
DIS.
Members presented their straw polls for purchases.
Todd presented Lowes, Home Depot, EMC.
EMC: Too much uncertainty---high risk.
Home Depot: Just out of buy zone. Current price of $49.40 is
a HOLD. Buy up to $47.53.
Lowes current price of $45.70 is also a HOLD. Buy up to $36.64.
EMC's current price of $15.80 is a HOLD. Buy up to $10.07.
Lowes…trying to compete with Home Depot---expanding.
Mike presented Washington Mutual:
A thrift….7th largest banking institution in the US.
#1 in mortgages.
Major growth planned in Atlanta.
Unique banking experience.
Growth through acquisitions.
Current price of $31.30 is a BUY.
Buy up to $33.62.
Motion to not make any purchases this evening did not carry.
Motion to buy Tyco carried.
$1,350 was collected in checks.
Next meeting: March 6th.
Meeting adjourned.
Minutes submitted by David Robinson
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