MINUTES OF MEETINGS
Green Mountain Dreamers
July 6, 1998

OLD BUSINESS

The Green Mountain Dreamers met at Trinity College for its monthly meeting. Randy Elcan called the meeting to order at 6:30.

Member's presents were Randy, Claude and Julie Bertin, Lou, Al, Chris and Randy's father-in-law, Don Jackson.

Jackson of Spring Technologies spoke about how research in eye technology is being used as the only true means of positive identification.

Randy spoke about Diebold and how most college campuses and banks are using it. He mentioned that Cabletron might be a candidate for a take over. Whole Foods still is showing strong earnings and is still in the "Buy" range.

Julie spoke about how Boston Scientific is on a buying spree and is at $78.25. EMC is doing well and its stock is 34% higher.

Lou spoke about how Disney and Gillette have just spit. Home Depot has just split.

Chris introduced the policy for redeeming shares. After much discussion the proposed policy would be:

  1. Investment shares redeemed after one year or less will be penalized by a 10% reduction in the redemption value.
  2. Investment shares redeemed between one and five years will be penalized by a 5% reduction in the redemption value.
  3. Investment shares redeemed after five years will not be penalized for redemption.
  4. Penalties for redemption of investment shares will be waived or adjusted in the event of hardship. For example: job lost, relocation, death, etc.
  5. Penalties for redemption of investment of shares can be waived or adjusted by a majority vote of the club members.
  6. Transaction fees associated with the redemption of investment shares will be subtracted from the redeemed total. The net will be returned to the club member receiving the redemption.

Al Frank noted that if a member dies maybe the survivors would elect to stay in the club, and that any decisions should be made with a 2/3 vote instead of a majority vote.

NEW BUSINESS

As far as I could tell there was no new business.

Meeting for August has been cancelled. Enjoy the rest of the summer.

Next meeting will be at Trinity College on Monday, September 14, 1998 starting at 6:30.