MEMBERS PRESENT: Gay Chestnut, Ike Chestnut, Gretchen DuRant, Greg Joseph, Deborah Hauges, Lee Hollie, Elsie Jones, Renee Patterson, Nancy Pierre, Toni Pinckney, Sallie Williams and Preston Younger

MEMBERS ABSENT: NONE

MEMBERS ON LEAVE: Zandra Coles and Tabatha Williams

MEETING COMMENCED: 3:50 p.m.

1. INSPIRATIONAL QUOTE: Motivational readings from "Acts of Faith" and "Daily Motivator" read by Greg and Toni respectively.
2. Review of April 27th Meeting Minutes on website. (No Minutes for May Meeting due to Anniversary Celebration)
3. MINUTES: accepted as read.
4. FINANACIAL STATEMENT: Reviewed and clarified by Elsie Jones. PERT will tell us if we are reaching our goal of 15%. Not valuation statement.
5. B.I UPDATE: Renee discussed article "Going Further Back Can help" in July issue p. 12. Also discussed p. 54, "Seeking diversification": Rage to Riches Investment Club (Repair Shop).
6. PRESENTATIONS:

   1. Deborah: Presented FTI Consulting for purchase. Gartner Inc. and Navigant Consulting were used as comparisons. Group decided to purchase ? shares.

      Nancy: Readdressed Adv. Neuromodulation Systems, Inc. as a possible purchase. Questions raised to whether the portfolio is too Health Industry heavy.

   2. Outstanding Presentations:
      
      • Lee due to present in July.
      • Preston due to present in September (1st meeting).

7. STOCK UPDATES:
   

   STOCK NAME	STOCK SYMBOL	ADJUSTED STOCK PURCHASE PRICE*	STOCK CURRENT PRICE	PERFORMANCE
   ADC Telecommunications	ADCT	$10.22	$2.36	Down
   Apollo Group, Inc.	APOL	$39.13	$61.74	Up
   Bed Bath & Beyond	BBBY	$27.22	$39.07	Up
   Cheesecake Factory	CAKE	$32.17	$35.25	Up
   FactSet Research	FDS	$32.09	$42.88	Down
   General Electric	GE	$31.93	$28.62	Down
   Johnson & Johnson	JNJ	$52.33	$51.54	Up
   Lowe's	LOW	$43.46	$43.12	Down
   Nokia	NOK	$21.77	$16.65	Down
   Pfizer	PFE	$34.86	$36.00	Down
   * Adjusted price refers to actual cost (Reflects dollar cost averaging - price, administrative costs, splits, etc.)

8. COMMITTEE UPDATES: *(Chairperson of the committee)
   
   1. Portfolio (Janice, Elsie, Deborah & Sallie) Goal: Show us warning signs for growth or decline. Elsie explained PERT Worksheet. A Graph of GE shows that a new SSG needs to be done. Greg agreed to do updated SSG on GE to compare with original GE SSG first done PERT generated by the SSG (should be generated periodically).
   2. New Members (Toni, Gretchen, Nancy & Preston): Gretchen reported that New Member packet to be sent to (2) potential members.
   3. Scholarship and Fund-Raising: (Ike, Greg, Zandra, Tabitha, Gay & Sallie) Need to re-convene.
   4. Real-Estate (Gretchen, Janice & Greg): Need to re-convene.
   5. By-Laws (Renee, Greg, Gretchen and Lee): Need to re-convene.
   6. Education (Renee & Greg): Homework review, and new assignment.
   7. Audit (Lee): Not needed at present.

9. ISSUES AND/OR NEW BUSINESS:
   
   1. Changing Officers: Existing officers have held their present post for 3 years.
   2. Setting A Sell Price: SSG and PERT gives zonings to see if you want to sell. How much of a threshold are we willing to withstand before we sell?
   3. Leave of absence: Tabatha is due to come back in July. Zandra due to comeback in September. Correspondence needs to be generateded to these members in anticipation of their return.

   Meeting adjourned at 6:45 PM

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