Sunday, October 27, 2002

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MINUTES OF INVESTMENT CLUB MEETING

Sunday, October 27, 2002

MEMBERS PRESENT: Toni Pinckney, Greg Joseph, Renee Patterson, Zandra Coles, Gretchen DuRant, Janice Hackney, Lee Hollie, Deborah Hauges, Gay Chestnut, Elsie Jones, Tabatha Williams

MEMBERS ABSENT: Ike Chestnut, Preston Younger, Nancy Pierre, Sallie Williams

MEETING COMMENCED: 4:15 p.m.

  1. Minutes of the September 29, 2002 meeting were read and accepted.

  2. The financials were reviewed: The purchase price of shares including other fee charges were discussed. We must take the total amount paid for shares (including fees & commission) divided by the number of shares purchased, to get the actual cost of each share.

  3. Stock Updates:
    BBBY
    $37.29
    		 up purchased @
    $26.90
    CAKE
    $34.55
    		 up purchased @
    $30.19
    restaurants opening @ Palisades Mall & Orlando, Fl)
    FACTSET
    $29.84
    		 down purchased @
    $31.77
    GE -
    $26.24
    		 down purchased @
    $37.00
    PFIZER
    $31.90
    		 down purchased @
    $39.29
    ADC
    $01.45
    		 down purchased @
    $10.06
    APOLLO
    $43.09
    		up purchased @
    $38.81
    JNJ
    $57.76
    		up purchased @
    $50.94
    NOKIA
    $16.89
    		 down purchased @
    $21.45

  4. Education Committee: Looked at Valueline and interpreted data into the SSG via computer program. A homework assignment was given on BBBY. Read chapters 8, 9, & 10 in the NAIC Guide and be prepared for questions, clarifications, etc. at the next meeting.

  5. Partnership agreement: Discussion took place regarding the responsibility of each member of WIG. Contributions from all members in some form should take place so that everyone is bring something viable to the club.Deborah's WIG website is very information and helpful with links to Yahoo & Quicken and other places to give you research information.

  6. Attendance is a problem It should be kept in mind that WIG is a business and a legal entity. As participants we should start the meetings on time - no later than 3:30 p.m. Participation should mean the following:
    1. Present at least 2 stocks per year by each member
    2. Active participation on a committee
    3. Attendance at a class/seminar once per year

  7. A new directory was handed out to all members present.

  8. It was suggested that we all attend the play "Little Ham" by Langston Hughes. Greg will investigate.

  9. Stock Contest: Renee is winning in first place, Deborah holds second place and Gretchen is in third place.

  10. A vote was taken to purchase 35 additional shares of CAKE, which would render a total of 75 shares - to purchase 15 additional shares of GE to reach a total of 75 shares.

  11. Due to a merger, Toni suggested that we look to see if there are other banks that might suit our WIG account better. Greg, Elsie and Renee will report on a new bank at the next meeting. Anyone that has a suggestion will be appreciated.

    12. The meeting adjourned at 7:55 p.m.

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