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Jeff Epps Club President 2002-2003 |
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The second meeting of January welcomed visiting Rotarians from as far away as Nantucket, and as close as Calistoga. Mark Terrell
, Jake Scheideman and Natalie Klug all welcomed guests as well. Next year's President, Phil Toohey,
was celebrating a birthday, and Roger Adams, Mike Thomas and Dennis Kelly all celebrated their second Club anniversaries. After the welcome singers, Tim Coon
shared some thank-you notes from the third-graders and a letter from his sister who is in Uganda doing charity work. Those wanting to learn more about Katherine
's work in Africa can contact Tim and be on her e-mail distribution list.
During announcements, Earl Rogers thanked the club for the $1,100 raised for the family of the dying child at last week's meeting.
He had pictures of the baby to share. Dave Brotemarkle also announced a trip into San Francisco in early February to see his wife Kathi in the Lamplighter's production of Gilbert and Sullivan's
Queen Ida. You can call Dave to get on the sign-up sheet. All eyes this week were on the raffle, where Mark Terrell (still gloating, by the way), had a 1 in 3 chance of choosing the black
marble. He didn't. Next week, the odds are 50/50. Come early and get your tickets. The odds don't get much better than that.
Rex Stults took the podium as Finemaster. Elaine John rose to announce that the St. Helena Hospital Foundation had raised over
$3.2 million this year. Kathleen Patterson announced the arrival of a new grand daughter, and Linda Beard-Delucchi shared with the club that her daughter had
participated in a ride-along with St. Helena Police. "This town is too boring" was her (welcome) observation. |
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Rex then quizzed the assembled on various Chamber activities, raising quite a sum from Ed Beard, Ron Clark,
Bert Johansson, Dave Brotemarkle, Jerry McQuiddy and Katherine Parrett. The marketing department at the Chamber must be doing its job. Almost everyone
answered their question correctly. President Jeff Epps then introduced Paul Krsek, who gave his annual
financial outlook for 2003. War: This year's talk included much speculation on the impact of a war with Iraq -- the real wild card in the coming year. Paul's
take was that the critical factor in assessing the impact would be whether or not the Iraqi dictator is able to destroy his oil fields. If successful, this action would likely have significant and
negative consequences on the economy. If not, the economic impact might be quite small. So, investors would likely know within hours of the onset of hostilities how bad things might be.
Bond Market: Paul sees the bond market as remaining stable, with no sign of significant increases in
interest rates coming any time soon. He believes that the two decades long bull market in bonds may be coming to an end, but does not see a collapse as likely.Dividends: Paul believes that
President Bush's proposal on eliminating the dividend tax would be a strong stimulus for the economy. Asset Allocation: Paul believes that the largest gains in the
coming year will come from asset allocation, more so than stock picking. Once again, he is advising caution with equities, urging investors to explore utilities, REITS and Bonds and his
firm is still avoiding the tech sector. Time ran out with many unanswered questions. Any Rotarian wishing a copy of his firm's annual newsletter prepared for their
clients, can contact him and request a copy. We adjourned into the beautiful winter sunshine. |
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