Diversity Investment Group Minutes of the Meeting

February 5, 2003 

In attendance: Andy Bain Tom Saunders, Roger Drury, David Robinson, Todd Fibus, Russ Douglas, Jennifer Mullins, Steve Shockley, Holly Deveny, Ron Kozak, and Satish Shah

Absent: David Jones, Larry Corse (proxy given to Andy B.), David Brodeur (proxy given to Holly D.), Peter Carnell, and Vreni Ludin.

Minutes were approved from January 2, 2003

Tom Saunders was presented the treasurer’s report and this month’s valuation statement. The money on hand as of 01/31/03 was $1396. The unit valuation was, a 6% decrease from the previous month. The funds collected tonight were $1355.

Tom also submitted the Distribution of Earnings Statement for members.

It was announced that the audit committee had met prior to the DIG meeting on 02/05/03.

Mike Wall had submitted his resignation during the past month.  His payout will be based on the February valuation and will be paid out by March 2003.

Discussion was given to how this pay out would be best done with the current valuation statement.

Elections for the investment group officers were held. All of the officers from the past year were re-nominated and re-elected for the upcoming year; Andy Bain will be president, Holly Deveny will be Vice President, Tom Saunders will be Treasurer, Russ Douglas will be Secretary.

The DIG Board was presented and group members decided to not invest in any companies tonight. The funds will be used next month to pay out the resigning group member.

Presentations:

Satish Shah presented Johnson Controls (JCI) which is a provider of automotive systems and home / commercial building supplies. He found the company to be in the BUY Zone.

Next meeting March 5, 2003.

Minutes submitted by Russ Douglas.

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