Diversity Investment Group Minutes of the Meeting

September 4, 2002

In attendance: Andy Bain, Steve Shockley, David Robinson, Roger Drury, Ron Kozak, Tom Sanders, Holly Deveny, Jennifer Mullins, Peter Carnell, Satish Shah, Russ Douglas, Todd Fibus, David Brodeur, and Mike Wall.

Absent: Vreni Ludin, David Jones, and Larry Corse (gave proxy to David Brodeur).

The minutes were approved from last month.

Steve Shockley announced the possibility of leaving the investment group. He had not made a final decision but wanted the group to know what he was thinking about doing.

Tom Sanders presented this month’s valuation; on hand tonight was $ 1416. Funds collected tonight from members were $1112.76.

David Brodeur presented the DIG Board to review status of club’s portfolio.

Members were canvassed for ideas of which company to invest in. Group members discussed their opinions about these recommendations.

A motion was made to use tonight’s funds to invest in Home Depot. This motion was seconded. DIG Members voted on the motion, which was passed.

Presentations;

Mike Wall presented Apollo Group, Inc. a for-profit learning institution, which provides higher education programs to mostly working adults. He compared this to 5 other companies. He found Apollo Group, Inc to be in the “buy zone”.

David Robinson presented Macrovision a company, which copyrights movie and video productions. This was a company he had presented some several months ago and has been following. He found it to be in the “buy zone”.

Satish Shah presented Johnson Controls, Inc, which provides auto parts. He talked about Return on Equity, Return on Assets, and Return on Invested Capital on this company.     

Next meeting is October 2, 2002.

Minutes submitted by Russ Douglas

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