Council Meeting Minutes American Leather Chemists Associationchophouse Restaurant, Grand Genevarnlake Geneva, Wi September 29, 2008

摘要

1. Welcome. President Steve Yanek called the meeting to order. A special welcome was given to new VP Elect, Craig Keyser, and new councilors, Harold Diephouse and George Stockman. Sarah Drayna was thanked for making the arrangements with the Grand Geneva for this meeting.rn2. Ways & Means Committee Report - Dennis C. ShellyrnDr. Shelly submitted the following written report dated September 22, 2008: 1. Investments As of September 11,2008 our portfolio value was $228,226. Income since January 1, 2008 was $9,562, which puts our monthly income at about $1100. As regards activity, no stocks or bonds were sold or bought since my last report (June 2008). Our portfolio value is about $10,000 less than in June 2008 due to the incredible market corrections and fluctuations over the past three months. Given these major changes in the market I thought I would give some details. We have sixteen issues, in total. All three of our consumer staples have been up by about 14%. Our single financial stock is down by 14%. Our single industrial and materials holdings are each up by 76 and 35%, respectively. Seven of our nine fixed income holdings are down by about 11%. Our single cash equivalent (money market) is even. These percentages reflect current values relative to costs at the time of purchase.